let's get to brian fowler in tokyo. what is the emperor likely to say today? going to use the a-word. brian: that is absolutely right. he is not going to say i dictate. legally, he can't do so. what he will do is hint about his intention to step down. he's likely to cite his advanced age. he is now 82, how that is making it hard for him to uphold his duties as the symbol of unity in japan. the question we want answered is, what kind of timeline will he present? one year, two years, we will have to see what that is like. it could be difficult to see. sometimes, he uses language that is not standard. we will do our best to figure that out. give us some historical context so we can place this. how significant is this event? brian: this is only the second time the emperor has given any sort of speech like this, the first time coming five years ago after the earthquake. we haven't had an abdication in 1817, and last century, the emperor became a bybol that was hijacked people for a war agenda. i think what this means is that the emperor as a symbol of peace and comp

bloomberg's brian fowler in tokyo with the latest on the japanese emperor. some breaking news. this comes in the form of delta. you understand that all delta flights have been grounded. this is because of systems being down everywhere. we don't know much more than that. if you are due to fly or pick up somebody from the airport from a delta flight, check on the website for the very latest. this comes from delta commenting on their official twitter account, replying to some complaints from passengers. so, this is what we know so far. delta, saying their computer systems are down everywhere. it does seem to be a worldwide problem. therefore, flights are currently grounded due to this system outage nation might. up next, we wrap up the markets. and we will also look at currencies. this is bloomberg. ♪ francine: let's get to the bloomberg resinous flash. u.k.: airbus says the fraud office has opened a criminal investigation into allegations of fraud, bribery. the plane maker is cooperating with the pros. airbus shares are trading lower this morning. steinhoff in

let's get more with brian fowler. in tokyo. the market, once again, a divergence, a transpacific divergence in expectations around monetary policy? brian: that's right. really what we have to say is that governor kuroda is answering the wrong questions. -- do i have buy options left? and yes. that's fine. but will they have an impact on the economy? anna: where does the jury stand? with the economist to speak to, are they convinced? is that theylk could, instead of doing helicopter money, they could start buying local government debt and other types of debt. expand the types of debt a are able to buy. will that move the dial? give you a fairly pessimistic data point. in the last 22 years, japan's nominal gdp has expanded by 2%. 2% in 22 years. in that same time, the money 80%.y has expanded by so there is a real question as to whether flooding the market with money will have an impact. board government gets on with the bank of japan and combines fiscal with structural change, there could be an impact. does japan, the total of e

francine: thank you very much, brian fowler. japan, it kind of feels like a slow burn.eforms arey-side slow going in terms of effects. -- and monetary policy can buy time. we've seen the same in europe. if action isn't taken, then you will not see growth. supply-side changes in making those big changes. we have not seen that in japan. tom: rick lacaille with us. we will continue with getting you ready with our economic analysis. will look at finance. brad hintz joining us from new york university. the analysis of our banks. will he be direct? they are having trouble making money. brad hintz in our next hour. this is bloomberg. ♪ live picturesne: of hong kong. we're looking at property prices . i would go for the east to shanghai and beijing which are considering new measures to rein in health prices could we saw some gains. shanghai home prices jumping 27% in july. that would be pretty punchy. talk about inflation. tom keene in new york and i'm francine lacqua in london. broker --r -- matthew what would signal a genuine determination -- what you're looking at is of cour