. -- repeatingeading his claim to china south china sea. us know what you think of our top stories. follow me on twitter @rishaadtv, include #trendingbusiness. shanghai, shenzhen, and hong kong reacting to that u.s. jobs report. here is juliet. what a disastrous number for that payrolls number. we are seeing weakness come through from a laser on the open. singapore opening higher. from malaysia on the open. singapore opening higher. most of the weakness coming through from the nikkei 225 as the yen holding near one-month highs. this is a story of dollar weakness. the likelihood of a june rate hike in response to that jobs number now only 4%, down from 30%. the likelihood of a july hike down from 50% to 27%. down 1.4% with the yen holding on to those highs. australia, up by a third of 1%. gains from gold players. that shows you how much there is in terms of risk off sentiment. investors flocked to that safe haven gold price. zealand closed today, also korea for a public holiday. hong kong will be close later in the week, so an abbreviated we

india will pass china because just as you say, china you say, china is aging.about 70% of india will be of working age, a lower percentage of chinese. india, as you said has an opportunity to change this. >> you see the chinese system adjusting to this. there's an enormous pension reform that is trying to prepare for this wave of retirees. : on the relationship everything with -- >> testing. >> a decade ago i don't think we would consider that quad but we discarded that idea. now, now, that is happening more frequently. i think it is important that even though china has made it difficult for us that it's important to include china's much is possible both on the track to dialogue that were talking about, for other issues it beyond military and especially on the military issue because that is by far the hardest thing to resolve. i teach at stanford and one of the things that he said that he is quite proud of and i think it is a great initiative is that he helped persuade the pla that when chinese sailors meet sailors of other nations including the united states t

coming up, if china is the province ist how a adapting to china's ♪ >> it is 9:30 in sydney.watching the aussie what itolding on to achieved on friday following a week u.s. nonfarm fuel report. away from thetes opening of trading there as well as in japan. ."u are watching "first up china is moving in the right direction on the yuan. he spoke exclusively to bloomberg in beijing. he says the pboc action caused an unnecessary nervousness. reiterated its claim on the south china sea. addressing a meeting of defense , they struckgapore a more conciliatory tone. he also warned countries to keep their criticisms to themselves. the philippine central bank is stepping up cyber security and demanding more scrutiny toward off money laundering. manila has been in the spotlight after siphoning $80 million off the bangladesh account. most of it has disappeared. will alsol bank regulate digital currencies including bitcoin. powered by over 400 journalists and 150 bureaus around the world, this is bloomberg news. -- check in on the markets in asia pacific. futures in australia are looking l

when you look around china you see 30 football fields in length and you see that china still needs to do this to grow and in india as the situation is worse. when i was on the ganges river to see bodies in the water and pilgrim's breeding next to them so it is dire. but this is one of the areas where we have done a good job across different administration is when i was in government to have a large part to negotiate the nuclear deal. that was about the strategic partnership about clean non polluting power from scale of electricity. and with those reactors they would build and with those admissions with the protocol and a similarly i really think what the obama administration did with the climate change accord helped to spur the rest of the world to announce their own binding commitments on admission that all three can work together. >> but with india's correction we don't hear a lot about that. one of the big complaints we had their so corrupt you cannot deal with that. that people are wondering how much is corruption? can you talk about the different approaches of indiana and china a

a big week, chancellor angela merkel in china, and china trade production within the hour.cey checking on oil is, weakness weighing into energy stocks, down 1/10 of 1% . japanese yen and gold surging on safe haven buying. obama sayingident a massacre at a gay nightclub in florida is an attack on all americans and is being investigated as an act of terrorism. peoplele killed, 53 injured in the worst mass shooting in u.s. history. what do we know? >> the gunman has been identified as a 29-year-old u.s. citizen born in new york to parents from afghanistan, omar mateen. a 911 call before the attack at a gay nightclub in orlando in which he claims allegiance to so-called islamic state. omar mateen had come to the bureau's attention in 2013 when he made comments to coworkers about links to terrorist groups. the following year, he was investigated for ties to an american who became a suicide bomber in syria. foundg incriminating was either time, and despite official suspicions, he was able to legally buy guns just last week. he had worked as a security guard since 2007. in a state

china's capital account is largely closed.he national linkages between china and the rest of the world are fairly limited. the u.k. leading the union would be seen as mostly negative, according to one representative. let's hear what hong kong's richest man said. he was speaking exclusively to angie lau. they don't leave. if brexit happens, it will be detrimental to the u.k. and it will have a negative impact on the whole of europe. but, it is not the end of the world either. the corollary is what if they remain? is that an impact? juliette: there has been concern about japanese bond yields. this is from bank of america and merrill lynch research. they say a record surge in foreign ownership could haunt the second-biggest debt market. this chart shows us the yields in japan, germany and the u.k. they get record lows at the chance of britain leaving. that is according to the number crunch at the brexit probability index. it has been rising since mid-june. in tokyo strategist says if britain stays in the eu, we could see spikes i

up, china challenges. the break, the latest in our series of special reports on the future of once great provinces. the coal giant, that is, coming up next. ♪ angie: welcome back. china rebalance is from manufacturing to consumption, is provinces are facing big challenges. athis week, we are taking a look at three of them. biggest local economy, hung sing, described as red hot. hanxi is one of the largest producers on the planet, but it's minds are loaded up on dead, and most are unprofitable, with 80% of gdp tied to coal. the provinces -- the province is in trouble. economic china's slowdown is being felt hardest in places like this. the cofounder of a company in this province, where more than half the provinces unemployed. >> most of these people are out of work. where can we go? we have no other skills. reporter: even those with jobs are shoved -- are suffering. for have not been paid several months. the boss can't make any money, so he does not pay us. is a new reality for a coal rich province that was

we are not holding our breath for anything take in china -- anything big in china.mily: thank you so much. coming up, apple is closer to opening doors in india. they are still reeling from a setback in china. jeff bezos blasts beyond. details of the weekend launch. ♪ emily: this is bloomberg west. tim cook is holding a fundraiser next week for paul ryan. this is according to republican aides. some will go to the congressional committee to benefit other candidates. tim cook looks to boost establishment republican. he will not sponsor the convention next month. a number of companies have scaled back or dropped their support of the convention. the apple asia ambitions are being put to the test. the government clears away to open up shop with foreign investment and, in china, apple is reeling from a setback. our managing editor of tech coverage is joining us now from new york. peter, i will start with you. how big are the changes in india for apple? emily: it is a step -- >> it is a step in the right direction for apple. there are local sourcing rules that require you t

and china.resident xi jinping's tightened grip over his senior officials. >> we have had a failure of communications. that is the point. the point is the u.s.-china relations are difficult. >> reporter: u.s. president barack obama is expected to visit china in september. early next year there will be a new american president, and there could also be a reshuffling of china's leadership at next year's party congress. to future negotiations depend largely on who ends up being in charge. nhk world, beijing. >>> china has territorial disputes with several parties in the south china sea. vietnam state-run media criticized what it claimims is china's militarization of an artificial island in the area. the newspaper posted photos on its website of what it claims are chinese facilities on the johnson south reef of the spratly islands. the photos weree reportedly taking between late may and early june showiwing a seven-sty building, a light house, a spherical structure that appeared to be radar facilities

in china, the next wave of innovation as china rebalance is its economy.at? with the brexit vote and referendum next week -- last week, that is the elephant everyone is talking about, and that is what we will put initially to our first guest. he is the greater china head of manpower group. thank you for joining us this morning. so the latest employment survey shows civilization, but there is a weakness in hiring, and there is weakness in the private sector, investment. how does the referendum and the subsequent market chaos that happened at the end of last weekend, probably will continue today, how will that affect china's transformation voter topicoticed quite a hard talking about the brexit. the discussion here. the key point is actually china inomes the largest supporter the eu operations and labor and those of commercial. and british is one of the key areas for the china export. our president also have so many directions here. you can also do this in the past few years. alsothe euro and china and especially we talking about the british u.k., whatever d

russia is looking at china, boosting oil and gas supplies to china, and china is an important playerussia. india has not had a lot of involvement in russian strategy, oil and gas, but now india's economy is one of the fastest-growing, overtaking china, so naturally it makes sense to look there for growth, and india is poised to become -- for consumption to jump in the coming years. angie: thank you so much for that. we are looking forward to the afternoon business in tokyo, where we are seeing a weaker yen boost equities in japan. this despite exports falling more than expected. we are also watching india has raghuram rajan says he will not extend his term, and watching the rupee. the latest after this break. ♪ >> markets returning to risk on as chances of britain leaving the eu diminish, sending the pound higher. bookmakers putting at the chances of a brexit at 30%. oil is also gaining and the yen weaker after data showed japanese exports falling more than expected in may. the rupee set to fall following raghuram rajan's decision not to seek an extension to his term. the currency is

angie: china does not want that.so manya, other countries and organizations, is in favor of the status quo. japan does not want it either. we have lots of japanese firms in britain who really want written to stay in the eu. history suggests that they are not really good judges of what is in britain's estrus -- interest. , ife: could this trigger there is a brexit, could this trigger global contagion, a global economic meltdown? is unlikely. the fact is that the world economy and a number of ways is looking a bit healthier. then it did earlier this year. thea was a big worry at beginning of the year, oil prices were week, commodity places were on the floor, that was a more probable meltdown time. stabilize, china has the oil prices up, lots of emerging markets looking better. i think this catastrophe story is overdone. angie: enjoy your capital economics asia conference. capitalws, not economics, to be clear here. thank you for joining us in our studio today. coming up next, the bears are out for alibaba. why some inv

china steps on the gas. despite talking about -- a lull, the chinese government is wrapping up its off budget spending. i will bring you my chart, plus foreign demand from american drivers. with u.s. oil markets falling? "finding dory" scores the best film.omestic range for a we will analyze the results. ♪ francine: now let's get straight to the bloomberg business flash. matt: goldman sachs has told 98 employees in new york at their jobs are being a limited. that brings the number of dismissals disclosed to state officials to over 350. goldman has been reducing staff as it seeks to whether a slump in trading and dealmakers. volkswagen's second-largest shareholder has refused to sign off on the actions last year of two of the carmakers board members at the first shareholder meeting. bartoner saxony -- winterkorn who was current chief executive at the time and the are under chief, both investigation for market manipulation link to the timing of the public notification of the scandal. one of africa's biggest re

they see potential in china, where in particular?ome of those rural cities, they plan to open a new store there, they see that the chinese are becoming more health-conscious, so they are willing to put more money into sport. as we know, chinese consumers have a lot of disposable income. a lot more than what these committees are seeing in the u.s. and more developed countries. --y are seeking a mess adidas are seeing a lot of consumers wanting to buy their products. they want develop soccer and basketball products, but to try and get their products into the market in china. essentially they are hoping this will pay off. we have seen an opera companies start to trickle in china, specifically in consumer brands. but we saw its shares rise in germany after this announcement. >> shareholders like that idea, but is it going to pay off? there are a lot of comedies in china with a focus on the consumer that are struggling. >> but a lot of the sports comedies are doing well. nike has sponsored 16 teams in the olympics. they have quite a few s

changing portals in china. let's have a look at that story. >> likely to take a hit on new rules for online ads by health care companies. the forecast is cut, down from more than 3 billion to $2.8 billion. company said revenue has been affected by reducing the numbers to 30% of the results page, which baidu announced last month. the restrictions came after authorities investigated the death of ace to do and who sought -- a student who sought out controversial treatments advertised online. now, virtual reality and augmented reality are pretty at for theit's o future of the tech industry. a silicon valley startup called is a relatively small player in augmented reality, which superimposes digital images on top of the physical world, and says it will use the money to develop a headset that doesn't rely on a pc for power. another company is backed by hong kong's richest man. so, korean hour or companies have rated more offices. in engineering and construction company were reported to be among the units. just yester

it opens up china for us.nd china is of course, the biggest source of inbound tourists for australia. as you know, it is now over one million chinese visitors come to australia every year. and it is growing at a rate of about 18% as it has been for the last five years or so, so it is a very important market for us and very important and good partner. >> so then why is singapore airlines paring its stake? >> singapore airlines is a very important partner as well, and we enjoy a very strong relationship with them. but their stake with the placement of the 15%, which is 13% of the total to hna, the singapore stake and other people's stakes will drop a percent or two. it is just a byproduct of the mathematics. >> san miguel is selling its telecom business to two other philippine companies in a deal worth $1.5 billion. they hope it will improve their service. the chairman says that two will work together. this deal, what does it mean for san miguel's plan to break into the telecom? >> what you have as a sellout of

what we are not saying in china's economy is -- not seeing in china's economy is momentum. sales are holding up private companies are not spending. you take it all together and you say, china's economy is not getting any worse. the fact that it is not getting any better despite all of the worrying sign. failure to get momentum with the problems they have to deal with. when you take them all together, it is quite a fragile makes. -- fragile mix. hade: it seems overcapacity an impact on fixed assets as well. >> the private companies do not have the confidence to spend money, to invest. they are worried about falling profits. the government has to step in and spend the money. going forward, if this trend continues, the government will have to fill the gap left by the private sector. angie: they are not spending money on coal and metal production. with policymakers, if you say they need to act, what would they do? >> it is a delicate trick. they have to cut back on excess capacity. stop spending in those areas. but they cannot afford to pull back completely. trying to keep debt

-- china sea.eporter: these talks are meant to bring the two sides closer together. it is hard to see how they can beijing's disk you did claim to the south china sea driving waves during the two. manual talks between the biggest economic powerhouses, china called for more trust. >> the pacific should not be a stage for competition. become an interest between china and the u.s. and the asia-pacific region, make it possible for both countries to keep up communication. cooperate more and relate to challenges. dispute: the maritime has pushed relations between china and its neighbors to breaking point. speaking alongside the chinese president, the u.s. secretary of state john kerry called for a diplomatic solution to the crisis. john kerry: really position we have taken is, let's not resolve this by unilateral action. let's resolve this through rule of law, through diplomacy, through negotiation. reporter: the strategic and economic dialogue is one of the most important meetings between the two countr

the china-u.s. dialogue. also coming up, challenges for the engine that powers the factory of the world. a special series on china with a look at manufacturing powerhouse. juliette: keep an eye on the payroll the u.s. numbers disastrous. asian markets being sold off. really led by japan, down by over 1%. bit of a breather after last week, posting their best five-day gains since march. a 4% chance the fed will list this month. that hasn't investors flocking to safe havens. i will have more on the market movers shortly. angie: president she jinping says china and united states should talk more often to build trust. he also said the pacific should not be a battlefield for competing views. we have our china correspondent standing by live. a mainly positive message from the president? >> not too much detail, you do not expect too much detail at events like this and opening addresses. the tone, the words about cooperation, greater can medication between the two sides when it comes -- communication between the two s

and you know, china, who i have a great relationship with china, made a lot of money with china, can make money with china. it is hard to believe as a citizen looking what they have done to us but we can make a lot of money with china. i love having open markets with china. when they know that they're going to be consequences for their cheating they're not going to do what they are doing. give you an example. they're building right now one of the largest military fortresses in the world in the south china sea. now, they're taking our money. they're taking our jobs. they're taking our pride, our pride. and they're violating everything there is to violate by building this massive fortress in the south china sea. and unlike us, they don't get environmental impact permits by the way. they say build it. they start work the following hour. we say build something, they start work 12 years from now or doesn't ever happen, okay? can you imagine that? they're building an island, they have the biggest excavators in the world. sitting out in the sea, ripping the hell out of the ocean, out of the

boost been trying to supplies to china, and china is the biggest market in the region.g financier over $100t, providing billion in loans and prepayments over the last decade. that has helped to boost rosneft and let it may key acquisitions to help it become the oil giant it is today. india has been a much smaller nower, but it's economy is booming and projected to become one of the biggest energy consumers in asia, and that is an area that russia is looking ahead to. angie: you can deftly argued that their field of friends are shrinking. russian not a key favored partner right now. angie: thank you so much for that. checking other stories making headlines, talks with several asian miners with a view to sell a minority stake. the sale could fetch as much as $7 billion. they are trying to pay down debt through asset sales. vale wants to raise $10 billion through 2017. last year was the first annual loss in 19 years. the brazilian joint venture areeen bhp and vale restructuring loans after that disaster at its iron ore mine. hiredorgan chase has been and bhp is working wit

case by the philippines against china. the u.s. fears the outcome a of the trial could lead to china bringing in an aircraft identification zone, and meaning any aircraft would have to identify themselves to chinese officials per john kerry, the secretary of state chinae u.s., from outside before these dialogues, said this would be destabilizing. genie: how have things changed since the talks actually opens today? mark: after the talks have opened, john kerry is taking a slightly softer approach. to come to a diplomatic resolution. also,ecision paying -- decision paying, the president of china also said that only so many problems can be resolved through dialogue in the country, and that some issues have to be worked through. that, markk you for masterson reporting from beijing. in jordan, five employees of an intelligence office near oman have been killed in what a government is calling a terrorist attack. attack took place in the palestinian refugee camp of boaca. no group has immediately claimed responsibility for this a

what do the trade data from china tell us?rexit they are consistent with the other trade data across -- >> i think they are consistent with the other trade data across asia. stabilization, aggressive declines in trade seem to be stabilizing. i think part of it is currency movement. part of it is that the trade adjustment is quite mature. in some countries last year we were getting export declines of 15% year-over-year. you need some week global conditions for that to persist for too long. the global economy does seem a little more stable these days. the interaction of those factors. angie: as you say, currency fluctuation is part of the explanation we see in the drop of the fx reserves. much of it was due to the currency flows in europe and japan. what does this mean for the chinese consumer domestically? imports did drop, but not to the level expected. richard: domestically, a lot of the indicators say the economy is doing ok. you still expect some gradual moderation in growth over time. the interesting thing about china is t

china sees taiwan as one of its provinces. the worry is that coununtries m cut their ties in favor of china. and for taiwan that is trying to branch out, china's influence on other countries could easily hurt that plan. nhk world, taipei. >>> they say people in glass houses shouldn't throw stones but what about ones on the glass bridge. over the weekend people in central china took sledgehammers to it. the 430 meter long bridge is suspended over a canyon in a national park. its walkways made up of layered glass panels. volunteers at an event slammed it many timeses to check the strength of the bottom. a vehicle was then driven over it. after they stopped hammering an engineer said the glass was proven and people should feel safe. expressed concerns after a glass walkway in another location was shown online with cracks. by the way, that bridge is known as the brave man's bridge. hoonan province planning to open another one this year. sayaka mori. >> rain felll lasast week, 250 meters of rain fell in one day and significant floo

china claims almost the entire south china sea as its own. it's building manmade islands there and has deployed radar and other equipment. vietnam, the philippines and other southeast asian countries claim parts of the sea. >> i reiterated america's fundamental support for negotiations. and a peaceful resolution. based on the rule of law. as well as obviously our concern about any unilateral steps by any party, whichever claim it, to alter the status quo. >> translator: china has a right to defend its territorial sovereignty and legitimate maritime interests. we won't accept any ruling by the international tribunal of arbitration requested by the philippines, regarding the south china sea. and our position will not change. >> an international court is expected to rule on the validity of manila's claim soon. >>> turkish media are reporting that four suspects have been related to tuesday's car bombing. the blast in istanbul killed 11 people, including seven police officers, and wounded dozens. the explosion hit near popular touri spots during t

expect the same development in china.ng capability we have in china is very advanced. so it is possible possible to have a global supply chain here. >> you have less than 1% market are the china, what strategies to expand that? >> we saw a good growth last year. china was the third largest , so weon a global scale will see an increase in market share on delivery this year. talk about time, we how we will bring the latest to china. it is an important part of those steps to improve our position. we also count on that the market is changing. megawattgh focus on capital expenditures to more produced, andatts that's the kind of market that ands at megawatts produced not megawatts in store. executivehe chief there talking to tom mackenzie. hong kong, shanghai like this. makehai did manage to again in the session yesterday of 1.3%. hang seng in hong kong currently moving to the downside, 1.5%. the federal reserve deciding not to do anything this month, and july oaks like it will be a month where they stay pat. relaxing the rules

within china, we are growing quickly. chinese travelers are growing across china.gest source market we have right now. 120 million chinese are traveling outbound. most of their travel happens to be in the asia-pacific. they will continue to grow, and by 2020, they will outstrip u.s. travelers as the number one out round market in the world. we keep hearing all the rhetoric about the slowdown of china, but i think it depends on the industry. 13% to 15%r, we grew in our resorts from chinese travelers. that does not show eight slowdown. economy and china are slowing down, but there is a huge middle class that was to go out and explore the rest of the world. rishaad: and you have to have varied brands to cater for them. marriott international. up next, the reading of china's manufacturing pmi. look at how that measure compares with that number. stay with "trending business". ♪ rishaad: breaking news, the official pmi manufacturing number. caixinet the 1mbd reading. below 50, indicating more pessimistic conditions, 49.2. the consents estimate was 49.2. april was 49.4. i

china has long said their claims are indisputable.y did not include a single word about the south china sea in the 32-page final outcome document. but that says a lot, that they have a long way to go before -- to go to reach any kind of agreement. this is what secretary kerry had the same. i think it isy: important, and we have said this many times, that no claimant, none, not any country in gauge in unilateral actions that could be deemed by some of the else to be provocative and therefore problematic. stephen: by not mentioning it, i think we need to say watch this space. it will be a hot one. the yuan is back in the spotlight after talks in beijing. it also just posted its biggest two-day decline since february. does this mean that the pboc is guiding the currency to the downside again? heidi: that is a concern of some market participants. this is where we are at. has fallen 0.8% against this basket of currencies, the lowest since october when he 14. if you look at this chart, the white line is the bloomberg rebecca of this basket

china is guilty as rest of the world doing it. how do we get an advantage over china right now? we want to make sure that the u.s. is productive but right now seems to be coming at its expense? >> this is the shanghai accord latest in february. they're trying to maintain peg between china and u.s. and cheapen the dollar. we get advantage via japan and europe. we're trying to have inflation with higher import prices. u.s. has a net trade deficit. japan, they will not intervene. they have been told not to. they have been threatened by lagarde and jack lew. they're not going to. i see the yen trading through 100. trish: mark as we look forward to donald trump speaking about china, this is an issue that obviously resonates throughout america right now because people have seen their jobs disappear, if to china but someplace else overseas. how do we regain an edge? >> the easiest way to gain an edge in an economy take the barnacles off it. lower taxes. remove as many lawyers from the business process. reduce number of regulations. do all the things that the barack obama legislation ha

-china relations.he short-term perspective, there is an uncertainty perspective that will tarnish our u.k. brand, but we are here to represent the interests and desires of our members and businesses, so we would do what we can to make sure that is not tarnished. >> there is lots of speculation, scottish referendum, northern ireland, all kinds of different speculation. that must be difficult for you to convey a single voice, if you will, to your potential chinese partners. >> that is absolutely right. phase one of what we are doing here and outside of beijing is members, makeour sure their concerns are fed back into london and to the policymakers who will be deciding on the future for our country. >> thank you for your time. i know you will have a very busy time in the next few weeks, months, and years. more from the world economic forum coming up in the coming hours. rishaad: thank you very much indeed. ,ooking at breaking news fr fixing byan the yuan 9/10 of 1%, the biggest move since august. david: t

china is the biggest market. if profitability starts to slim there, that is going to be a headwind for volkswagen. the prime minister, this is a big deal. he will retract a national sales tax. much of this was foreshadowed when he was the president and leaders in g-7. madet hiroshima where he very clear he was planning - playing to a domestic audience. some of this is a delay of a national sales tax. quite an abrupt blow to the fiscal side of abenomics. how will japan respond? >> first of all, i will expect he will do pretty well in the election next month. we think he is going to call a double election, so that will be perfectly timed. notice what he is saying here. a a few months ago he was saying he would not postpone the sales tax hike, unless there was another lehman like event. now he is blaming the world economy. he is saying the world is at risk. not japan. japan is doing fine but the external economies are at great risk, so he has to do this. need you to give me your opinion as an economist but when i lo

china and taiwan claim them. the japanese government maintain the islands are an inherent part of of japan's territory. the defense ministers confirmed that their countries will cooperate more closely on defense. nakatani pledged that his country's self-defense forces will help east timor improve capabilities. japan's government will consider a port call by vessels in east timor later this year. >> translator: we agreed that china's unilateral action to raise tensions is a matter of concern for the international community. >> nakatani said it's important to make it clear to china that the high seas should remain open to all nations. >>> four indian naval vessels have arrived at a port in southwestern japan. their crews will take part in exercises with japan and the u.s. officers of the three countries say they will work for peace and stability of sea lanes. the four indian vessels arrived on friday morning at sasebo. the port hosts ships of japan's self-defense maritime force and the u.s. navy. a japanese destroy

china believes in a one-china principle and sees taiwan as one of its provinces. it's worried that countries may cast their ties in favor of china and for taiwan it's trying to branch out china's influence on other countries could easily hurt that plan. noriyuki tajima, nhk world, taipei. >>> the incoming philippine president is emerging as a forceful but unlikely proponent of family planning, and in a country of millions of catholics he's gunning for a fight with the church. speaking in the country's south on monday rodrigo duterte again stressed the need to promote birth control. he says families with many children have been driven deeper into poverty. he reiterated his call for families to have no more than three. duterte also talked about introducing the death penalty emphasizing the point is retribution. about 80% of the country's population is catholic, and the church plays an influential role. the catholic church is against the use of contraceptives and its opposition to the death penalty led to it being abolished in 2006. the church is likely to react stro

on learning about china right now.are testing the waters there. she didn't give any timeline but said the company's goal is to eventually connect the world to the internet, and obviously is a huge population of internet connected people. again, notmind us only is facebook not allowed in china, instagram is not allowed either. >> the company has been blocked since 2009. they do have operations in china selling as exporters. there is an option in beijing that caters to those needs but they've not gotten any closer to becoming unlocked so that people can use their service widely. oculus, thet about virtual reality part of the business that mark zuckerberg offer wide a bit of money but we have not heard much about it. he wants to be in control of the next major computing platform. he thinks the next major platform is virtual reality. he says it's going to be a very social technology, you will be having adventures with your headsetvia your oculus and traveled together to places that are stored, you can have meetings, teleco

china has been building up its presence in the south china sea.s it on 80% of the waterway, a claim contested by five southeastern asian nations. powered by over 2400 journalists and 150 bureaus around the world, this is bloomberg news. i am yvonne man. right, just getting some breaking news. the associated press, projecting bernie sanders to have won the north dakota democratic caucus. this could be fairly academic given that we had hillary clinton projected to win new jersey, taking her over the winning line to become the official candidate to run on the democratic ticket for the election in november. atht, now let's have a look what is going on with china rebalancing from manufacturing to consumption. do is throw up a huge set of big challenges for the countries provinces. this week, we are looking at .hree of them, is one of the largest planet.ducers on the 80% of gdp is tied to coal, and the provinces in trouble. tom mackenzie went to investigate. economic slowdown is being felt the hardest in places like this. it is a cold town in shanxi pro

in terms of china, it's a carrot.you do well, we could do this before the next cycle. not like the msci goes into a bunker and doesn't review these things constantly. china's gotten the same rhetoric when it comes to sdr. they want to be part of the club. every time they get beaten back. they say, you've got to do x, y, and z. it's what's going on in every single that china wants to compete on the global stage. >> when they do it, it's almost like they're backing the chinese stock market to some extent. it could allow the chinese market to actually see a different pool of liquidity -- or different pool of investment come into it. we talked about selling in different -- in other countries. to actually move money into china. i think it's confidence. it's all about confidence. that's been a casino market for such a long time. to see msci come in and back it up is a very, very strong statement. >> the pool of money could be 20 to $30 billion u.s. dollars. at this point, we're watching the after-hours session, the etf that

trade representative to bring china, bothagainst in this country and at the wto. [applause] china's unfair subsidy behavior is prohibited under the terms of its entrance to the wto. i intend to enforce those rules and regulations. i intend to enforce the agreement with all countries -- basically, i intend to enforce the agreement with all countries, not just china. if china does not stop illegal activities, including the theft of american trade secrets, i will use every lawful -- this is so easy, i love saying this -- i would use every lawful presidential power to remedy trade disputes, including the application of tariffs consistent with section 201 and 301 of the trade act of 1974, and section 232 of the trade expansion act of 1962. when they say trade expansion, they are talking about other countries, not us. there is no expansion. they get the expansion, we get the joblessness. it is not going to happen anymore. [applause] president reagan deployed similar trade measures when motorcycle and semi conductor imports threatened u.s. industry. i remember. his tarif

china and taiwan claim them. the japanese government maintains the islands are an inherent part of japan's territory. nakatani expressed the responsibility of showing in the east china sea. >> japan will continue to operation and the u.s. pacific fleet, and admiral smith said the two --. the fourm minister of the association of southeast asian nations have expressed serious concerns to china over the situation in the south china sea. they apparently were refer to china's construction of islands in the area and facilities that appear to have a military purpose. hi noted the serious concerns expressed by the foreign ministers over the development on the ground. he reportedly underscored the importance of the peaceful resolution of territorial disputes and called for full respect for the right of freedom of navigation and overflight under international law. china has maintained the disputes related to the south china sea should be resolved through dialogue between the concerned parties and not between china and asea

china is hosting the six-day trade fair. the chinese government has its eye on the region as an important hub for one belt, one road initiative. that aims to improve l land and sea links between asia and europe. >>> a private sector survey suggests more than half of college seniors in japan have job offers. the firm recruruit career polle 1,200 students who will graduate next month. job interviews were in full swing. 52% of respondents said they have firm job offers up 18 percentage points from the same survey. the japan b business federation set new guidelines allowing companies to start interviewing earlier. >>> let's take a look at our business calendar for the week. on wednesday japan's national tourism organization posts latest head count. arrival numbers in april set a record for a single month. central banks in japan and united states hold policy meetings. slow recovery of global economy will be focus of the discussion. the weekends with china's new home prices for may. officials survey prices in 70 major cities. >>>

and jack lew says china needs better monetary policy. is washington the best place to teach communications 101? we will hear exclusively from the u.s. treasurey secretary. matt, we are less than half an hour away from the equity market open. let's take a look at where we think the european space will open up this morning. the ftse 100 is up by .4%. euro stocks a little lower this morning. is going to be interesting to see what the miners do on the back of what is happening with the dollar. the miners are up in australia and could be up in london as well. matt: we thought a lot more weakness earlier in the trade. the nikkei right now is down by .3%. the yen had gained a ton of strength, as did the euro and a most any currency against the dollar on friday. 106.96, a pretty shocking number two c therefore the yen. the pound though, losing ground. those brexit polls showing they "leave" camp a stronger than the "remain" camp. rent is not a little bit below $50, but hovering around $49.99 a barrel. now let's get to the bloomberg first world n

a public holiday in china and hong kong tomorrow. china will also remain closed on friday. good movement coming through from petrochina. quite a bit of weakness. singapore, malaise yarks taiwan and the philippines looking quite good. korea holding on to gains from yesterday. weakness coming through on the nikkei 225. we had the first quarter g.d.p. numbers coming through in line with what the market was looking for. we have seen japanese stocks if you can't. that is due to the fabblingt that we are -- fact that we are still seeing some weakness. down.5%. still an hour to go in the morning session. weakness in australia. down .2%. just want to do a quick check on the aussie dollar as we await these dollars coming through out of china. leaving rates on hold yesterday and the yen continuing to strength playing into the equity market. through 107, 106.76, rish. rishaad: we have a survey, bloomberg survey expecting more signs of stability but perhaps indications of weakness. >> still waiting for the numbers to cross. a little bit delayed today. but you're wait. we're going to se

china says the dalai lama wants just what to bet from the rest of china.tibetan autonomy rather than complete independence. global news 24 hours a day powered by 2400 journalists in one of 150 those around the world. thank you. coming up, the bidding for yahoo! narrows with just a handful of groups making final offers. is left.ind out who plus, jim chanos is out with new aeas researching for potential short. the interview in just a few minutes. ♪ alix: breaking news. industrial production is down .4%. it was supposed to be down .2. rosein april, production .7%. you had the weaker dollar but could not sustain that throughout may. in terms of what we are seeing in equities, a little bit of a when it comes to treasuries and you have the dollar turning a little stronger in terms of futures, only up .1%. the grexit fears continue and the polls have not really changed here they all show the same thing. lead is leading. sterling is rising. the data shows an unexpected pick up in wage growth. the risk is spreading far beyond sterling. management ceor, and presiden

had been stolen from china and china has to defend. it's unacceptable to the chinese people that japan continues to exert this control. the nationalism has been tied to the territorial issues in ways that i think are taking the history problem to new levels of tension. what does this all mean? what are the implications of what we are talking about in terms of regional security. i will turn back arms and talk about the nationalism. >> thanks. i will make quick points. some people might think that these are two separate topics. i can think of two ways on nationalism of arming intersect and besides the fact that the cheap nationalism and cheap weapons is a volatile combination. to do this in the spirit of the presidency, i will move this north. the south china sea. just think we really have not spent a lot of time thinking about the implications for overlapping sovereignty disputes are when they intersect with what is becoming more competitive and available on the arms market. you could be sang win and say these are defensive weapons and

the strategy does focus on china, looking at hosting oil and gas supplies to china, and china being thergy, and also a big financier for rosneft. it has provided more than $100 billion of preorders and loans to rosneft, which has helped to build it into the oil giant it is now. india,also looking to whose economy is growing faster than china, so it makes sense. rishaad: thanks. let's take a look at what's been going on in malaysia, where the embattled prime minister has enjoyed victory into elections over the weekend, helping him to tighten his grip on power. one with bigger majorities than expected despite turmoil and allegations of corruption. this was widely expected, but the result, it's really quite incredible. the majority and the magnitude of his victories. >> that's right. it is significant because it is seen as a litmus test. the first test to see if allegations surrounding najib would diminish his support. it is pretty much in tact. he has not been hurt by the 1mdb scandal. validate his position at the top. rrmers and rule voters -- ural voters are still behind him. he says he

i've done very well with china. made great deals with china. we can do great with china. i don't have anything against chinese leadership. i don't have anything against the leadership of japan or mexico. they're just so much smarter than our leaders and they're taking advantage of us. i have a lot against our leaders because they're grossly incompetent and don't know what they're doing. so if china -- right? so if china does not stop its illegal activities, including its theft of american trade secrets, they're stealing $300 billion a year, some people say, of trade secrets, i would use every lawful presidential power to remedy trade disputes, including the application, excuse me, of tariffs, consistent with section 201, consistent with section 201 and 301 of the trade act of 1973, and section 232 of the trade expansion act of 1962. now think of that term. think of that term. the trade expansion act. you know what? we got the joblessness and they got the expansion. there's no expansion. there's no expansion. so the story is this. i love you people. so important in novembe

about the chinese economy, competition in china, and he revealed their plans to develop movies in chinato what he said. ask him about the difficulty of setting this park up. take a listen to what he told us yesterday. bob: entering this market has its challenges, regulatory issues, and so in making a decision, we felt the best way to do it was with a themepark. theme parks are expensive. this one costs in the neighborhood of $5.5 billion, so it is a big that on a big market and represents not only our biggest entrance into this market, but the potential to deliver great growth for the company long-term. >> its opening when the government has this week focus on driving the consumer market. timing and good foresight on your part? you are building something for the ages, good or bad, so it is not about the economy today or the circumstance today. it's about what we see long-term. noble, ofs are a course, but it is that that on a market and the true believe in a market. interms of what is going on china that works to our advantage, clearly establishing a move from a manufacturing to a more

rates, china's sluggish global growth.ke bank indonesia is bracing itself for a fallout should investors flee the market. we see that happened time and time again. was put in just in case. bank indonesia looking , what areoan growth the economist telling you about this. are these measures likely to work? >> difficult to say. consumption is low. loans are down. bank of a new leisure had to do something. deposithe minimum requirement to buy homes. not domestic loan growth picks up remains to be seen. , the president is struggling to keep his promise of 7% gdp. he has taken steps to cut red tape, attract foreign money, cut spending, but still no 7% growth. the drop in commodities is not helping either. rishaad: thank you very much indeed. the golden age of hong kong's retailers is over. let'ssmetics and julie a -- jewelry outlets are doing to give us a clearer idea. they have been hurting for a while. nearly two years of falling sales. >> the last time we saw a positive number was november 2014, so almost 1.5 years now. is a