for these funds some do not risk breaking the embargo it full shows us the bnp must've known it with the money would be going and so must have known. it would be helping in the genocide by carrying out the transfer of the from the pope bless you know the parry merged with perry dar into thousand to become today's fringe banking entity. however the one point three million dollar transferred dates back to the summer of nineteen ninety four. the ngos elijah him to cuddle currently serving a thirty five year sentence for crimes against humanity agreed to purchase eighty tons of weaponry from south african arms dealer petrous filem ehlers that gm. bnp would then have acted as the middle man transferring the funding from the rwandan central bank to the arms dealers swiss account. the arms with and delivered to rwanda through a border city in the neighboring democratic republic of cong. elsewhere though that being claims the trail stretches even higher. a french journalist told france twenty four of classified documents showing that paris itself loaded the rearming of hutu fighters during t

discussing that with bnp party but asset management. -- pariba asset management.his is bloomberg. ♪ rishaad: back here with "bloomberg markets: asia." i'm rishaad salamat in hong kong. haidi: i'm haidi lun in sydney. a quick check of business flash headlines. india's largest lender aims to raise as much as $2.3 billion by sharing -- selling shares to the biggest institutions. they want to strengthen the balance sheet in the face of worsening bad loans. that in india is at the highest level since at least 2001. last month, the state bank announced first-quarter profits. we are going to be looking at what's going on when it comes to chinese bond markets around the world. let's get our guest in, brian carter, from bnp paribas. let's take a look at where we are. we keep on talking about debt and leveraging china. if you look at it, how much of the problem is it in your view? creates its own demand, to a large degree. in the case of china, you're 'slking about it -- a country in nominal terms for two decades. it can continue to grow debt, especially the high-quality go

another company that has been affected, bnp paribnas. the cyber attack has affected the real estate unit. bnp paribas says measures have been taken to limit the impact of the cyberattacks, which is andcting the u.s., asia, france. includinging up, theresa may preparing for her first prime minister's questions since her disastrous election results. what could be a testing day for the u.k. premier. as the latest cyber attack goes global, we look at who has been hit, and who might be behind it. this is bloomberg. ♪ mark: let's get the bloomberg business flash. reporter: nestle announced a $21 billion buyback, looking for a position just days after a shakeup was called for. the company has not had a repurchase program since 2014. they also called on nestle to sell its stake in l'oreal and take on more debt. toshiba has assumed western digital four $1 billion in damages and is looking to stop the u.s. company from interfering with the sale of its chip unit. toshiba said it needs more time to reach a final agreement on the sale of the business

>> bnp >> and worst name? bvna. >> do you hold bnp paribas >> yes, we do. >> gildes, thank you very much >>> after eurozone governments agreed to a credit lifeline for greece last week, creditors are looking to the next round of talks. earlier we talk to md of the european stability mechanism who gave us an update on the debt relief negotiations. >> i would not belittle what the euro group decided last week it was an important step we will very likely make a disbursement of 8.5 billion euro in early july. we now have to go through the procedures but the areas ro groeuro group level. this is very much part of the program. so it's not a surprise it was a bit delayed but it is part of our 86 billion euro support package for greece that started in the autumn of 2015 so we are a little bit more than halfway through. we have a bit more than one year to go. and the finance ministers have also made it very clear already last year how they intend to deal with the debt issue there's a disagreement with the imf. they wou

joining us now on set is michael bnp paribas.saw substantial weakness in the pound and we have not recovered. uncertainty seems to be increased -- increasing. you say this is not reflected in u.k. assets. is this because of the election? michael: it has been a busy year. lang forward, it is likely to get even busier. election andr the the level of uncertainty is much higher than it has been. at not justk across the pound but other u.k. assets, there has been little reflection of that, not just sense the election, but prior to the election as we were having a run-up to the negotiation. anna: some people have interpreted that uncertainty to suggest something softer is coming. michael: that is important. it is also a case of investors not wanting to put capital behind there is trades. a situation where a lot of risk entrees have been working very well. the global mentality is still risk on. how they come in and starts selling the pound. anna: where does the pound go? the market was short the pound in the middle of last year. then ag

the largest contender -- container shipper, the property arm of bnp paribas, or at a cadbury chocolate plant in australia. as the virus continues to spread, those who have not been hit so far asked themselves, is my cybersecurity strong enough? reporter: piled up containers at india's largest port at mumbai, the rent some attack that hit around the world. the damage operations had been done. the malicious code locked machines and demanded that victims post ransom for $300 in bitcoin or lose data entirely. security experts are questioning whether the financial been was the real goal of the attack, or whether the hackers were driven by more destructive motives. analysts in russia, which was hard hit by the attack, say very few companies understand the importance of information security. "nowadays there is lots of money online. huge amounts of important information are being processed somewhere on the internet and company computers. these attacks spread so quickly because of a lack of software updates." the cyberattack appears to have started in ukraine. the first infections were traced t

france's biggest bank, bnp paribas, and the french supermarket chain, auchan, are among the latest victims india's largest container port, have also reported disruption. and the cyber attack is still spreading, this is day three. for more on this i'm joining me from sydney by technology commentator, charlie brown. tell us more about the vaccine and the possibilities of a killswitch? the vaccine, what we have seen from it so far, is really only helping individual pcs and is not really designed to assist on a network basis. if you install particular file names in the directory, the petya virus, or worm, file names in the directory, the petya virus, orworm, does file names in the directory, the petya virus, or worm, does not run. but it is still infected. 0n petya virus, or worm, does not run. but it is still infected. on a multinetwork bases, it is really coming down too large corporations and organisations trying to roll back those systems and removing the warm on an individual basis and that will take some time. it is the second major attack in three months, what you expect next and what m

france's biggest bank, bnp paribas, and a french supermarket chain are among the latest victims.est container port, also report disruption. and the attack is still spreading — this is day three. technology commentator, charlie brown says there's still a lot of work needed to stop the cyber attack. the vaccine, what we have seen from it so far, is that it's really only helping individual pcs, it is not really designed to assist on a network basis. what we've seen from the vaccine is that if you install a particular file name into your windows directory and then you reboot your computer, the petya virus, or petya worm, does not actually run on that machine. but remember, the machine is still actually infected. petya still isn't running in that instance. on a multinetwork or wider network basis, it is really coming down to large corporations and organisations trying to roll back those systems and trying tyo remove the petya worm back those systems and trying to remove the petya worm on an individual basis and that's going to take them quite some time. it is the second major attack i

great stuff from bnp paribas today.nless it corrects by 5% next week, this will be the longest it has gone without a pullback since launch. it adds to the dax. we have to go back to the 1990's to see the last time we had to wait for a 5% pullback. this function shows the industries up led by chemicals. let's talk about the world's biggest maker of wind turbines one of the big decliners in europe after trump pulled the u.s. out of the paris climate accord which throws into question the future some say of renewable energy where it derives about 40% of its revenue . they have rebounded since. littley withdrawal makes economic sense. the chairman says he does not think the u.s. will abandon clean energy plans. this is sterling on a weekly basis. this is when theresa may called the election. sterling rallied that week and the next. it has been volatile since. last week, we had the biggest weekly decline of the year after the poll showed the gap between the conservatives in labour party narrowed to five percentage points. cap

bnp paribas, the maker of a moisturizing cream also struggling to cope with the fallout.ne thing that's really interesting is the ransomware part of it is not that effective. you are meant to be paying up to get access to your computer. courts have been looking at data. bitcoin is only about $10,000 taken in the first 24 hours. that's about 2/3 less than we saw with wannacry. emily: what more do we know about where this attack originated? caroline: the epicenter where it kicked off seemed to have been the ukraine. how? still being debated. many people say, like the wannacry virus we saw last month, this is playing on a weakness in the microsoft operating system. that seems to be how it has spread so. ultimately -- so virulently across the world. it seems to have started in the ukraine tax accounting software company. i might add that this particular company has refuted that. they said they had no responsibility for spreading this particular virus, but notable cyber security experts have said they think this is where initially it was first rooted and then it spread through

. >>> bnp paribas says it has been hit by the cyberattack, and it is taking measures. >>> coming up, food giant nestle plans to buy back $20 million of its shares we'll talk about what's next for nestle after activist pressure is on. >>> welcome back lots of corporate stories to tell but this morning. the dutch government has cut its stake in abn amro. it was partially reprivatized by an ipo in 2015 >>> and dutch medical equipmentmaker philips announced a 1.9 billion euro take overof spectranetics. philips is offering shareholders 38 cents and 50 cents a share. the deal is set to close in the third quarter of this year. >>> shares at nestle are trading higher after the company announced a 20$20.8 billion sha buyback days after third point went public with a series of demands. third point's ceo daniel loeb accused the company of being stuck in its old ways saying share repurchases are a particular attractive offer at the moment nestle says it wildiscuss the buyback. >> do you think nestle would have done the buyback without the pressure from third point? >> i think so sure i think the

been chen and bnp have selling stock at around the 45 level.who to compel -- outokumpo making up the downside. we will talk to ryanair later. let's talk about the fed and what is going on in the treasury market. here really important regarding volatility and the treasury market. it continues to tumble as traders and investors are well prepared for the federal reserve to hike. it is very much priced in today. if the central bank provides details on any plans to turn the bauman sheet, this could help wake the treasury market up. chart, one ofis the first ones our producer, hillary clark, put together. volatility is at a level in blue that we haven't seen since before ben bernanke's famous jackson hole paper speech in 2013. -- it hasn't been this low since the taper tantrum. guy: it is interesting to see what is going on. i wonder if we get a shakeup soon considering what the fed may do. will that process change the game when it comes to treasury market? will politics, that ceiling -- the debt ceiling? what you make of the incredibly complacent tr

now, the global head of fx strategy at bnp paribas. human at a loss of tragedy.nd was striking. investors worry this may have an impact on the election. way to look at it as far as markets are concerned. the pound surged when this election was announced. the reason was, it was assumed conservative government would increase their majority somewhat, based on polls. aom the perspective of narrowing of polls, the logic is the pound suffers. i think that is what we have seen. we should focus on positioning. a couple weeks ago, when the election was announced, the market was short sterling. a loss of this rally was short covering. we are back to a more mutual scenario now. francine: was it a game changer when we had the you goes -- u gov model? you could have a collision between s&p labor and risk. what is the need for pound? >> that was a game changer. a bad parliament is outcome for the u.k. short sterlingt positions we had discussed previously would rebound. there could be quite a sharp decline in sterling against the back to at least 125, potentially lower if there

european banks, higher yields helping them, deutsche bank, bnp paribas all moving up. china up fractionally overnight. the big indexer moving to include china mainland stocks into its indexes next year, starting with 222 large ones overnight the ceo said he may add another 195 mid-size companies here the effect of all of this, you're going to be owning a lot more china stocks in the coming years in the major indexes, which is what these etfs are based on een, emergencying market index, chinese stocks, mostly hong kong listed, with full inclusion of mainland china this could take several years. a lot more china stocks in everybody's future here in the u.s., banks up yields have stabilized, have you noticed, in the last week or so? 2.13 seems to be about the low so, banks are up energy finally turned around a little bit oil is up for the fourth straight session here. obviously, still have concerns about supply side there. tech is a little bit weaker. qualcomm, nvidia, fractional declines there consumer discretionary also not doing too much autos are all to the downside,

with us in london, daniel loris of bnp paribas.oned on your last segment that you like e.m. and qatar is considered emerging. how do you wind up hedging that? where do you go for the safety em trade, if there is such a thing? >> i guess that is the bigger question. generally you will find it in the markets where you will have lower yields, and you won't get it relative to u.s. or germany. what we find with situations like qatar, is you think back to brazil. we are going to be investing on the front based on the fundamentals, when you have opportunities that open up, when you have a political shock. we tend to look at those as opportunities to take advantage of overreaction in the market. that is our perspective, where do we have the opportunity to open up? think that is the perspective as opposed to looking for safe havens. alix: when you talk to emerging-market investors, it is mexico, argentina, and brazil. do you subscribe to those three or are there other values? >> looking elsewhere at this point, i think what you are seeing i