meanwhile shares of lawson jumped 7% following news that trading house mitsubishi corporation plans to become its majoririty shareheholder. mitsubishi, however, ended slightly lower. so we have a few clouds hanging over markets this thursday. analysts say we're likely to see investors remain subdued until they get a better handle on what central banks will decide. giang nguyen reporting from the tokyo stock exchange. >>> sydney's s&p asx200 finishing at 5,239. gains in final and resource-related stocks supported the benchmark. but shares of energy companies dropped on lower oil prices. stocks in indonesia out-performed the region. indonesia jumped by 2% finishing at 5,265. that's the biggest one-day gain in more than a month. hong kong's hang seng index also gaining today led by casino operators. singapore was a touch lower down by 0.14%. china was closed for holiday. >>> tech lovers at an annual fair in japan are donning head gear and switching on and entering new worlds. many have come to the game show to test out the advances in virtual reality. about 600 exhibiters are displaying t

shares of mitsubishi corporation and mitsui & company were down sharply. both firms are projected to pose a net loss for the fiscal ending this month. airlines were high other cheaper fuel. ana holdings was up almost 1%. japan airlines rose 1.9%. so a bit of a lackluster trading day. many investors are holding off as we near the end of the fiscal year here in japan and await inflation data out on friday. giang nguyen reporting from the tokyo stock exchange. >>>> thanks veryry much for tha. moving on to other markets in the asia-pacific region, let's take a look at china, the shanghai composite, 2960 is the closing number there. dozens of domestic brokerages have reportedly resumed short selling. that's the practice of borrowing stocks to sell with the aim of buying them back at a lower price. it was said to be one of the factors behind a market crash last year. sydney's s&p asx 200 index falling also 1.13%. 5,084 is the closing number, a three-week low. the banking sector led losses after the australian/new zealand banking group announced an increase in it

mitsubishi corporation and state company will tie up with a japanese investment fund and local firms. they plan to spend $600 million to develop about four hectares in yangon. they expect to finish by march 2021. the aim is to meet growing demand for office space and hotel accommodation. >>> more people around the world are adding an exotic touch to their gardens with bonsai. that's the art of replicating a landscape in a plant pot. producers are now crereating ne types for foreign users. >> reporter: this exhibit is called an air bonsai. it is elevated using magnets. the creators want to convey the importance of ecology. and this is the dry bonsai using a dead tree. that's a brand new idea that relieves the owner of the need to water the plant. a japanese man demonstrates bonsai making in belgium. he represented his country at this event in january. he takes to the tree with fully grown branches. and the tree drastically changes shape. he turns it into an artistic bonsai. >> beautiful. >> reporter: his creations have earned him many fans abroad. he h has received invitatations perfor

mitsubishi corporation. mitsubishi reported a net loss of $1.37 billion after booking losses in its copper and lng businesses. it saw a slump in its copper and coal businesses resulting in a $765 million net loss. it's the first time either firm has been in the red. >> translator: we urgently need to strike the right balance between our resource-related and other businesses so we can avoid net losses, even if resource prices plunge lower than we expect them to. >>> marubeni reported a net profit of $570 million, more than 40% lower than the previous business year, due to losses in oil and gas fuel development. itochu's $2.2 billion in profit put it at the top of trading companies. >>> china has released the consumer price index and the producer price index. officials at the bureau of statistics say the figure for april was at 2.3% for the year earlier. the numbers remain below the government target of about 3%. producer price index down 3.4%. it was better than the previous month and has also beaten market e

mitsubishi corporation and mitsui also up. honda, mazda, and toyota are higher. despite friday's gains, however, the nikkei does end the week in the negative. i'm ramin mellegard at the tokyo stock exchange. >> and moving on to other markets in the asia pacific region. in china the shanghai composite inched up to end three days of losses for the week. rose on hopes for stimulus measures by the government. hong kong's hang seng index retreated from the nine-month high. ended in the positive but casino operators were down. seoul's kospi finished almost flat and the benchmark in sydney were up 0.3%. rose on higher commodity prices. >> swedish based auto firm volvo hass agreed to work with uber t develop a self-driving car. the companies will invest $300 million to jointly develop the autonomous vehicle based on volvo models. they'll also cooperate to develop highly accurate three dimensional maps and sensors to detect objects on busy streets. executives at volvo want the alliance to create self-driving technology as soon as possible. uber hopes to introduce ride sha

the project was led by japan's mitsubishi corporation and korea gas corporation. they contributed about 60% of the project's capital. japan is the world's top lng importer, producing and supplying gass to be relied on y major oil producers is their long-term goal. >> translator: w we're directly involved in lng production, and the operation of the plant. i believe this is a very good experience for both parties. >> reporter: running the plant is no easy task. engineers from both countries have to work closely together. even though they are from different countries, engineers say communication is not a problem thanks in part to a similar corporate cultures. >> translator: the successful cooperation between the southth korean and japanese firms has made me believe we'll also be able to work with japanese firms in many other areas. >> reporter: at this restaurant in sydney, australia, the products of another joint venture is being served up. more and more customers are enjoying japanese sake. >> sake goes well with it. >> it's delicious. >> reporteter: but it's not t

>> catherine, one is a major trading house, mitsubishi corporation, the other is lawson, a convenience store chain. both have seen recent declines in their market positions. mitsubishi posted its first ever net loss during -- to falling prices, that is, of natural resources and was not from its number-one status last fiscal year. lawson, meanwhile, lost its second-place position after a rival merge with another retailer. so both have been looking for ways to restore their status. executives from the companies are now in final consultation so that mitsubishi can raise its stake in lawson to make it a subsidiary. mitsubishi is planning to launch a takeover bid before the end of the year at the earliest. the trading house is already lawson's largest shareholder with about a third of its shars. it plans to spend around $1.5 billion to increase that stake to more than 50%. mitsubishi hopes to use its global procurement network to come up with new products to place on lawson's shelves. executives will also consider speeding up the pace by which convenience stores are opened overseas. lawson

petroleum supplier was down and mitsubishi corporation fell 4.5%. banking sectors suffered the most. it was hurt by bank of japan's negative interest rates policy. banks are trading lower. some investors are hoping the boj will do something at their policy meeting later this month. >> thanks very much. let's move on to other markets. shanghai, the shanghai composite gained by 1.5%, 3053 for the closing number climbed to a three month high. many investors are cheered by the government's supporting measures. hong kong, hang seng dropped by 1.6%. 20,177 is the closing number. the hang seng posted its biggest one day lost in six weeks on falling crude oil prices. kospi index dropped and finished at its lowest in a month. indonesia was up. sidney slipping, again lower oil prices dragging down the resource heavy index. >>> employees at big firms are about to get a base pay raise for the third year in a row, but across a much wider cross-section of the work force, the picture is less rosy. on average, staff got smaller winter bonuses than the previous year

so japan's major trading house, mitsubishi corporation and japex saw gains. the safe-haven yen is still stronger, but for more clear direction, the markets will be paying a close eye on how commodity prices will play out in the long term. i'm mayu yoshida from the tokyo stock exchange. >>> other nations joined the global rally. let's take a look. hong kong climbed to a two-week high. malaysia's benchmark, up by almost 1%, finishing at 1680. figures show the country's economy grew 5% last year, beating analysts' expectations. let's look at indonesia. of up by a quarter of one percent, finishing at 4778. the central bank lowered its key interest rate to 7%. that was the second rate cut this year and in mean with market expectation. china bucked the trend. shanghai composite down by a fraction, as we see there, 2862 for the closing number, discouraging inflation numbers fueled hopes for more government stimulus, but profit taking wiped out earlier gains. here's a hook look at some of t other business stories we're following today. >>> toyota motor officials have

another state-run oil firm, rosneft, is e pexpected to work with mitsubishi corporation. a private russian gas firm, novatech, expected to sign a memorandum to build a strategic relationship with three japanese trading firms. nhk world is in front of the how tem whe hotel where the summit will take place. what's the atmosphere like there? >> reporter: as you can expect, security sight here in nagato city, around the hotel where the two leaders will meet later today. police officers have been assigned to security for the summit. there are checkpoints all over the place. they're also inspecting cars coming to the airport. in order to deal with the influx of foreign media, the city has hired a russian woman who speaks japanese, english and, of course, russian. japanese officials have prepared promotional gift bags for the russian counterparts. the bags have bath salts that can make water just like a local hot spring. there's also tea from the neighboring city of ube, and a sightseeing pamphlet. putin is expected to reach nagat oran o on nuthursday amp. prime minister abe wil

mitsubishi corporations is joining hands with several railway operatorors that have rl estate operations and an investment fund known as j.o.i.n. spon seniored by the private and public sectors. they plan to invest a total of $287 million. their new community will be about 25 kilometers from the indonesian capital, jakarta. they're going to build 900 homes plus some commercial buildings on 19 hectares of land. construction is scheduled to kick off next year. in the meantime, the consortium will establish a joint venture with indonesia's leading real estate corporate group. >>> making and selling car parts in china is big business for some japanese companies and their local partners. many of them are -- attended, rather, a trade fair in chongqing. japan external trade organization hosted the event. representatives of about 30 car component makers affiliated with japanese companies took part. exhibiters pitched their products to local businesspeople. auto production in chongqing topped 3 million vehicles last year making it chineachina's to producer. the city raced ahead of shanghai and gu

mitsubishi corporation has just released earnings for the first half of 2016. 179.82 billion yen withdividends of 30 they deal in everything from electronics to metals and are yen foring 330 billion the full year. stock prices were falling in the morning session because of a surging yen, but overall for the year, it is up more than 10%. global news 24 hours a day powered by 2600 journalists in 120 countries. let's get a check of how markets have been trading with david ingles. pound,have a look at the one of the better performing currencies this side of the world. we are very close to the 125 level. the 200ancing back from day moving average. hours, the latest quote on the egyptian pound after the massive drop. not the best day. a big weekend ahead. in -- and in hong kong and china, fingers crossed. manus: welcome back to the best of "bloomberg markets middle east." fallen almost 10% over the course of the week. what is behind the declines? ti trading around $46 a barrel today. last three sessions, it has fallen about 6.1%. faileday, opec members to come to an agreement on output leve

shares are soaring after mitsubishi corporation said it is considering increasing its share in the convenience operator. it may increase this to more than 50%. .e have all the details why would mitsubishi do this now, is this part of a bigger strategy? guest: that is exactly what it is. this is part of their grand master plan. to get away from commodities company'sbrought the profits down to its first net loss in the previous fiscal year. the cfo told berg news last that going forward the company well at least for the next three years shift away from commodities. andcompany -- the bread butter of the company has been commodities. it has invested heavily in lng projects. oil projects and copper, different kind of metals. they have been a major player in that field and almost every region. but because the price slump of the last two years has hurt them and so they are diversifying away and that is why they decided to take or they are considering to take a bigger stake and loss and make it a subsidiary of the country as company. mean, whatdoes this this that due to their business? guest: the big

corporate earnings. >>> foreign auto makers looking to ref up business in iran. one of them is mitsubishi bus corporation. it is the first from japan to announce its business plans in the country since economic sanctions were lifted. the company says it will start exporting light duty trucks this year. it signed a contract with the dubai based form to be its distribute tore. iran one of the largest vehicle markets in the middle east. 1 million cars per year. japanese used to export vehicles to iran and operate assembly plants there, but years of sanctions over iran's nuclear development ended that. >>> japan's manufacturing sector dominated by big firms. it can tough for small startups to succeed. news line profiles of three young who are beating the odds in our second segment, would he feature a businessman whose built his own network of support and helping other small enterprises along the way. kay co as so reports. >> this is made from a single carved pipe. it emits a soft blow that micks. compressed to cedar is the material in this battery charger. the grain makes it beautiful as well

. >>> and new overnight, mitts mitts motors corporation -- mitsubishi motors corporation is the latest company to admit it falsified key tests on its cars. >> good morning. topping "america's money." job cuts at intel. >> the chip maker is eliminates 12,000 jobs or about 11% of its work force. intel is shifting work focus away from personal computers which aren't selling that well. >> another automaker is admiting to falsifying data. mitsubishi says inaccurate fuel economy tests involve 157,000 of its own cars and nearly half a million it made for nissan, all for sale in japan. >> after making the announcement, mitsubishi >> jack lu is expected to make a decision about your money this week. he'll announce whether or not to remove alexander hamilton from the 10 dollar bill and add a woman. >> later on "good morning america" we learn how a popular broadway show may help hamilton stay on the bill. >> i hope there's a way to do both. >> it's possible. that's "america's money." >> have a great day. >>> well, jeff boos is making it easier for weary travelers to take a quick nap before takeof

this week they're focusing on japanese corporate earnings as mitt pea -- mitsubishi releases its resultsn wednesday. reeling from the revelations of falsified fuel efficiencieies tt data. shares are down nearly 5%. the dollar hit the upper 111 yen level on hopes of expanding stimulant measures by the bank of japan. but inched lower during tokyo trading hours. there's a lot of speculation around that boj policy meeting as well as the meeting of the feds. for now investors are playing it safe. reporting from the tokyo stock exchange. >> thank you very much for that. >>> the sense of caution affected over asian forces. the shanghai composite down 2,496 for the closing number there. lower than a month. it prompted many investors to sell-energy-related share sshar. singapore's consumer price index has been declining for a record 17 months. that weighed on investor sentiment. hong kong dropping. indonesia declining and markets in sydney closed due to the holiday. japanese companies are collaborating with various industries to develop self-driving technology and improve their competitive edge.

mitsubishi motors has been slammed for a corporate culture and it goes back years. investigationt found systemic failure and it led to cheating. tore is a reluctance technology that the ambition target could not be met. >> it was a lack of communication between management and those in the field about what company they wanted to build, lacking the vision and we believe this could have been a reason for the scandal. mitsubishiblem for and the company. hondo was a standout and there are concerns the market may have peaked. gm, ford, and toyota. powered byews is journalists and analysts. this is bloomberg. >> the turkish president has defended his government's to andg of the failed said that the westside it with his opponents and at the turkish economy is resilient. message he is trying to get across here. >> it was a defined speech and it was named at international investors. he spent most of his time lashing out at west and said they were supporting organizers of the failed troop attempt and that it was orchestrated from abroad. theas been demanding u.s.-based cleric.

corporate earnings on the yen. also weighed on sentiment. mitsubishi is down 7% and its arrival mizuho has hit a three-year low. one dealer has said money managers are also increasingly unloading shares in japan. they are looking to cut losses ahead of japan's public holiday on thursday. >> thanks for that report. >>> some traders bought japanese government bonds as a safer asset and others sold them to book profits. the moves follow the ten-year gdp dropping the first time into negative territory. >>> moving on to other parts of the asia pacific region, some markets are back from the lunar holiday. the ftsti fell 1.57. let's take a look at sydney, dropped by 1.17%. the resource heavy index fell for the fourth straight session on lower oil prices. the under way in japan. people are flocking to confectionary stores ahead of valentine's day. chocolate makers are never satisfied, of course, they want more customers. and they've come up with mouth watering ways to get them. nhk world's miwako hoshiba reports. >> reporter: chocolate makers start to get creative around valentine's day. some of their offerings stand o

mitsubishi motors has admitted it has a problem with corporate governance and oversight for these kindsf issues. a huge scandal that almost ended the company having to do with safety faults that were covered up and son of the company's truck axles. that require them to be bailed out. it was very serious. they said they put in procedures to prevent that, but it didn't. the question is, what else has not been prevented? what other possible scandals could emerge once investigators get in and look at what exact process are they using for quality control, for safety checks, for meeting all of the regulatory requirements? francine: thank you so much for the update. in tokyo with one of our biggest corporate stories of the day. we will be speaking to carlos ghosn on bloomberg later this morning. up next, with exactly six weeks until the u.k. decides whether to remain in the eu, central bank governors mark carney gives his assessment of the country's economic health. you look ahead to the boe's super thursday. ♪ the u.k. so, chancellor has once again set how his case for britain remaining withi

anna: we are getting breaking news from a couple of corporates in asia. , he willissan ceo become chairman of mitsubishiors according to people with knowledge of the matter. i have been speaking to bloomberg. let's talk about this discount store retailer. been indicted by south korean prosecutors. also and breach of duty. these are rare headlines from the south korean prosecutors office in a statement on their website. as we get more breaking news, we will, of course, bring that to you. mitsubishi s sharesu -- shares are surging. will take that one down. let's have a look at futures. we are going to go higher. thes: we have someone on consumer side, someone holding on to their guidance, london and is 10624, just a little bit lower. when you look at everything that is going on with the rally in the u.s., the rally in european equities, or the instrument -- the ensuring rally, where do you want to take the most exposure in the back to months of the year? peter: you may be seeing a rally in european equities on a -- but on a year to date they have not done particularly well. relative to u.s. equities, ther

corporate earnings releases that moved share prices. fujifilm holdings tumbled after it reported a 50% drop i in net profit for the quarter. mitsubishi lost 2.7%. the company is still reeling from a mileage cheating scandal that's damaging sales. and nintendo reported a loss of more than $230 million from april to june as the sales off the riyuyu console disappointed. expectations are running high for the bank of japan to provide substantial easing measures. some analysts are anticipating strong volatility to make a return to markets in the wake of the boj's decision. i'm giang nguyen reporting from the stock exchange. >>> moving on to other markets in the asia pacific region. the shanghai composite finishing up at 2,994. others sold over restrictions on products. singapore declining by 0.78%. hong kong's hang seng index dropping by 0.2%. sydney meanwhile adding 0.3% as rising iron ore and other metal prices pushed up shares. >>> democratic candidate hillary clinton is facing tough questions on a matter that's sensitive to many u.s. workers. she says she opposes the push for the transpacific partnership. a free trade deal that would

association of corporate executives chairman kobayashi said the government should focus on fiscal health, labor reform and o oth areas to create newew industries. >>> japan's mitsubishi aircraft on the way to clinch its first order for mrj passengnger jet. sources close say management agreed in principle to sell up to 20 units to swedish aircraft leasing firm ruktan. the mitsubishi regional jet is under development as the first japanese made passenger aircraft in half a century. europe is an important market for small jets given the demand for short distance flights between various cities and countries. mitsubishi has already received orders for 427 mrj units from japanese, u.s., and asian carriers. the market for small passenger jets is increasingly competitive with leading makers including brazil and canada's bombardier. vying for its share. >>> visual signage has become a common sight in japan. makers have come up with a flexible display for curved surfaces. they exhibited the technology that uses 24 electroluminous displays. they plan selling it in september. commercial complexes and office buildings where there's demand for something stylish. >> translator: the

mitsubishi is looking to turn the country's largest convenience store operator into a unit. bbva reducing its corporatend banking stocks in the u.s. by 10%. a spokesman says it wants to streamline its business to focus on core clients. 35 bankers will leave the banks businesses that offices in new york, houston, dallas. that is your business flash update. deutsche bank shares are falling by the most since the aftermath of the brexit vote. the justice department is seeking $14 billion to settle a probe. the company were about the claims, saying deutsche bank has no intent to settle these potential civil claims anywhere near the numbers cited. $14s talk about that billion figure. in that statement, deutsche bank andng look at our peers they agreed to amounts less than that. how valid is that and how big a number is this? >> 14 billion dollars is a big number. a good way to think about it is this is a number that one side of two-sided talks is putting forth as deutsche bank clearly and openly tells us. willnk it's safe to say it be lower. how much lower? we don't know. it's a tough negotiation, obviously.

mitsubishi's actions are very serious. it looks like the u.s. is in the lead up up to a corporate financial prices.hina's recovery is fueled more by arlington structural reform. a bit of a hard start on the open there. also some very solid gangs on the hang seng index. it was push higher up closing in its lowest level in two weeks. sinopec are all very solid. the crude prices up -- rebounding. taiwan gained a half of 1%. southeast asia's also positive. commodity prices pushing the australian market higher. also it is back in the black. we are up -- switch out of gold stocks today. also we are seeing the u.s. dollar strengthen after falling. that is pushing some downward pressure on the emerging market currency. 31% after a couple of sessions a very solid gains that is the state of play in markets across asia. ♪ emily: turning to china. alibaba founder jack ma believes the chinese economy will remain enviable for 20 years. he outlined this in the south china morning post. alibaba's purchase of the newspaper was finalized. the cofounder said that the rapid growth of consumer culture could help china

corporate earnings. some of the household names that we're very familiar with, like sony and mitsubishi. japan, hthis is a big problm because the yen is rising at a time when economic data gets worse and worse, and everybody is playing a bank of chicken. the bank of japan has clearly passed the baton over to prime minister abe. we have the g7 meeting later this month. they're hoping that abe will unleash new fiscal stimulus. i think this is going to mean significant concerns for japanese corporations and the possibility of further dollar yen weakness or strength. a lot of japanese companies become complacent when it rose back from 107 to 112. but now the velocity is going to force them to rethink their lengths. so we could see dollaryen drop to 105 and beyond. and we see complete impotence from the central bank and most likely from prime minister abe as well. >> is there another driver with this move? is it domestic investors getting the fear of whatever's the fear of the day and deciding to pull their investments abroad back into japan? it's rather confusing as you say, we're not seeing

mitsubishi. there is damage already done. no one likes a corporate lying effectively.ubishi brand equity back. ? have ahave to admit you problem, understand the source of that problem, and explain what happened and why so you can start the process of rebuilding trust. there are many companies who have had very serious problems and have overcome them, but the ones who do that well and the ones that don't are the ones who say we realize we have a problem, let's get to the root of it as quickly as we can. you need to third parties to validate that. it is often not helpful if it is just saying you identify the problem and fixed it. the more you can have others acknowledge what happened and describe what you are doing about it, the better. rishaad: the danger is, and mitsubishi may just will be the same case, you get a drip, drip, drip of bad news. there is talk in other news organizations that it could be 2 million vehicles affected, rather than the 600,000 many ini-cars. >> the worst thing is the slow, steady, you think you have all the facts, and you don't, and it leaks

mitsubishi motors continue to fall. the carmaker has now lost more than half its market value since its fuel efficiency manipulations came to light last week. and leading the gates was ihi corporation which climbed 4.3% following a report it plans to build a jet engine facility in japan, the first in the country for two decades. the focus is now on how asian markets react to the outcome of policy meetings at the federal reserve and the bank of japan on thursday. giang nguyen from the tokyo stock exchange. >> thanks very much for that report. >>> many other asian boards ended lower. shanghai down at 2,953. data for march shows profits for manufacturers up 11% from a year earlier. investors appeared unmoved by the news. australia's s&p 200 declining by .6%. 5,187 the closing number. consumer prices in the first quarter fell unexpectedly. that result dragged down the australian dollar and weighed on share prices. hong kong's hang seng declines by .2%. indonesia bucking the trend, .7% for the gains there. its first gain in three sessions. >>> here is a look at some of the other business stories we're following. officials at the world bank believe the price of crude oil will rise higher

mitsubishi motors under the hammer again, losing 40% of its value in two days. many-car lose nissans business, too. yen hitting of the japanese equities along with disappointing corporateults. the music world morning the loss of another star, prince. paul mccartney called him a creative giant. do let us know what you think of our top stories. china and hong kong markets getting underway in about half an hour. a gauge of what is going on with your money today. >> money going down a little today. not a great end to the trading week. times down,rait malaysia with a similar loss, and taiwan. faring better than the open, down a third of 1%. the yen unchanged at the moment, although stronger in the early session. and mitsubishi motors are the two worst performers on the .ikkei 225 asx 20 hit hard by the downturn. the new zealand market also weaker to round out the trading week, down a third of 1%. trim back thell weekly gain we had seen on the regional index, currently down a third of 1% before china and hong kong come online. a few stocks we want to watch in up region today, iron ore 8.8%, the second-biggest gain ever. atlas iron is very strong on that. it wasalysts were sa

mitsubishi. takeda is back in the news again. it just seems like there are so many things, so many moving parts. you know, corporate governance looks like it is going the right way. the activists have been involved. they're pushing things through. but there is still some of the legacy issues that seem to just not be able to be pulled out of the market. that is a political thing. predominantly fed action, where do you think, fourth quarter? >> i think june is off the cart. you already have some people talking about it but the numbers don't suggest it. september is the really the last chance but then you get the election so i don't really -- look. we've been saying all along we didn't think they'd do more than one or two max but i think that the market just, the economy is not there right now and i don't see the summer heating up. you've got other issues going on right now dragging the indexes, apple has been a big problem in the u.s. for the last week or two. people forget how big a wait apple is so once they start to get pulled down you get the sentiment drain it's hard for the fed to raise into negative sentiment.

mitsubishi motors under the hammer again, losing 40% of its value in two days. many-car lose nissans business, too. yen hitting of the japanese equities along with disappointing corporate

management expertise, and corporate governance experience necessary to deliver sustainable and profitable growth. we're at the beginning of a new journey. i am confident that mitsubishi our report, will be able to and take newrust business opportunities. for nissan, this alliance will extend our scale. we will deliver reporting, direct synergies. as i said at the outset, it is a potential win-win transaction. we have the track record to make it work, and to deliver the expected results. i will now invite comments about this a deal, then we would be both happy to take questions. >> ladies and gentlemen, thank you very much to be with us on this occasion. guy: he was talking with the acquisition he announced this morning, a 34% stake taken in mitsubishi motors. scenario.t a win-win dustin crawford, manager and holder of -- agree with that? to the i haven't gone numbers it, it is hard to say. i do think, as i said earlier, it is about scaling up. they can do that, and took them a long time with the nissan but they finally started to do that. if they can do that again with mitsubishi, i think it could indeed -- guy: they're already working quite closely with them. exactl

between excel on corporation and pepco holdings the parent company of ac electric who creates the largest utility with eight and a half million customers. >>> an apology from mitsubishiotors, japanese car maker says it has found evidence its employees intentionally falsified, fuel mileage test data for several models of vehicles. internal probe found that tire pressure data was falsified and to make mileage appear better then it actually was. >>> the flyers face an early exit from the stanley cup playoffs, lose another game to the capitals and they will go home for the summer. >> our pat gallen joins us with how the flyers have a chance to repeat history and come back from a big hole, pat, are you flyered up. >> of course, i am but they have a long road ahead of them. flyers have been in this position, before down three to nothing in the series but we will get to that in a second. but first flyers must focus on tonight and win one game to keep the washington capitals from sweeping them at the wells fargo center. it won't be easy, it has been a lopsided series so far. through three games, the cat have dominated, out scoring orange and black 12-two. washington scored f

mitsubishi. no misses the conversation with christine lagarde coming up later on. we are minutes away from the european equity market open. some of the potential corporateovers in today's trading. the just trouble mounts -- deutsche's troubled mounts. we will talk about that later. easyjet feeling the brexit headwinds. all the stories. the market open is seven minutes away. this is bloomberg. ♪ guy: 7:54 in london. easyjet -- external event affecting the profitability. this as well the extranet events of the brexit. also what is been happening in terms of terrorism affecting the business sharply. the stock is called the lower this morning. bank caught asche little bit higher. speculation swirling, not confirmed by bloomberg. we're hearing that the german government is speaking to the department of justice. a great piece by bloomberg showing auditing of the deals -- overall potentially with some -- some 30. called up 12% on the back of [indiscernible] guide. ♪ guy: good morning and welcome to "on the move." i am here in the city of london alongside caroline hyde in frankfurt. we are moments away from the start of european trading, and caroline as the mor

staying with corporate news, long-time nissan leader carlos is adding a new challenge , turning around mitsubishio take over as chairman. he spoke to bloomberg from mitsubishi headquarters in japan. >> i am chairman of the board and chief executive officer of the company. i would be here to support him, supervise him, guide him, challenge them, etc., but i think the challenge for mitsubishi today is to establish trust and resume normal operations. well twoi was doing years ago. veryusly, 2016 is negative. provisions they had to take for the consequences of what happened. i would hope that in order to reestablish normalcy of the , we will recover in 2017. lastly, there are synergies between mitsubishi on one side and nissan on the other side, which have already been quantified and they are massive. donenk if everything is and we have a clear plan, the company is going to reestablish itself quickly. >> in places like japan, you may have redundant capacity. as part of the plan closing some of the production lines going thisrd question my >> operation is happening at the right moment because frankly,

mitsubishi and mazda leading. weakness and hong kong, concerned that higher rates in the u.s. and with the hong kong monetary authority in pursuit could push the yuan weaker and push into chinese corporate which is where we have been seeing weakness. higher and reits bank stock stronger. weakerave the won against the greenback. some gains in new zealand, one market underperforming. today up .9%. next across the southeast asian equity markets. having a look at currencies, the won continuing to fall, the biggest drop against the dollar, down another .4%. you are also seeing weakness in the offshore renminbi. to pboc weakening the yuan the weakest since 2008. by --bi the offshore down the offshore renminbi down by .1%. japan 10 year bond yields rise to the highest since january. a little bit off there, but movement in this bond yields today. rishaad: thanks. weakening toe yuan eight-year lows. the fed striking that hawkish and, china's ability willingness to control the yuan depreciation is the focus of emerging-market investors. sophie: what is beijing likely to do? have allowed a steady depreciation against the dollar. traders and analysts are asking how much they will allow it to deprec

mitsubishi. guys jeep has not been recommended, hasn't had a model recommended by consumer reports since 2013. look at a comparison of the stocks of fuji heavy, which is the parent corporation fiat criesler over the last year. see the split there. not a good report for jeep at all. consumer reports had very little good the say about the reliability of these jeep models. >> i'm perplexed, phil, because every time you come on and talk about fiat criesler. >> yep. >> you say that the strong part, the strong badge there is jeep. people are buying jeeps. >> they love the styling. >> are they not loving them. >> they love the styling. the styling, and the marketing on jeep, spot on. best in the industry. ask anybody in the industry. ask their competitors. they all have great admiration for what the team has done with jeep. having said, that tyler, if you talk about anybody who has done road testing of these vehicles not just with consumer reports, but jd power does it when they have their reliability ranksings. they are consistently near the bottom. it is a split that a lot of people have trouble wrapping their heads around in the auto industry. in terms of their sales it's about