hanjin needs to submit a proposal by september 23. as yvonne mentioned, the blame game was going on. they said that the bank had halted support because the main shareholder did not make any move to provide liquidity. the main shareholder of hanjin shipping is korea airlines. it is a bit of he said she said going on here. officials met with hanjin executives in august to set up a contingency plan. that plan was never established and that was partly because hanjin shipping said it could not share confidential information about its customers with the banks. so what they are saying is, it was done to hanshin shipping and handling shipping does not seem keen -- hanshin shipping did not seem keen to get that. korean airlines did come into help, get money in terms of loans to help ease the cargo disruptions. that was for about 60,000,000,000 won. thank you very much. good stuff. let's go ahead to smartphones and google has taken its biggest leap into the $400 billion smart phone market. it has launched two new handsets and has developed an i

angie: what happens to hanjin after this?njin carried it seems like the court is trying to decide what part of hanjin mayt raise funds and what not work at all. may be left with interregional shipping business in asia, but it is unclear what will happen. the court is still waiting for hanjin to submit their revival plan by the 23rd. good one. joining us live from singapore. investors are playing it safe as opec tries to finalize its deal to limit output. more talks are planned to take place this week. should be exempt because of its fight against islamic militants. that is one reason, but how many more reasons can people come up with? ask our bloomberg energy reporter. what do you think? >> iraq is throwing a spanner in the works of this deal. not many people have thought there was going to be a deal. it is going to the motions of trying to figure out what works expectr all parties, so to see a lot more of these statements leading up to november. it is quite typical of what happens when we go into an opec meeting. it is almos

other shippers are starting the feel the effects of the hanjin bankruptcy and the problem is getting bigger. >> global supply chains have been pretty well gummed up. >> reporter: the port isn't counting on hanjin to help matters because they are in such dire financial straits. >> reports that we have seen indicate that's unlikely, that hanjin will probably disappear. >> reporter: at the port of oakland, don ford, kpix 5. >>> fleet week is now full speed ahead. this morning navy ships were welcomed in the san francisco bay. this afternoon, daredevils flew through the skies. chopper 5 caught the blue angels as they took off this afternoon for their first show of the weekend. they are expected to draw more than a million people to the waterfront over the next two days. earlier it was near perfect weather for the parade of ships. chopper 5 with the spectacular sight as the ships came under the golden gate bridge. the navy ships will be at various peers this weekend where people will be able to tour the vessels. >> if you came into san francisco i know you brought your jacket and you were

hanjin has 54% of long beach. the court hopes to have final bids for hanjin assets next month.he german chancellor says a the u.k. path ahead as negotiates to leave the european union. inresa may's presentation brussels later good foundation to proceed, she said. helps the decision will be reversed, but may set that will not happen. >> the u.k. is leaving the eu, but we will play a full roll and tell we leave. we will be a good and strong partner after we have left. work closelynt we together, including the summit. has promisedorea more rocket launches despite international criticism and the threat of her their sanctions. state tv said the program would continue as part of a five-year plan to "conquer the universe." came after at second failed launch. south korea and the u.s. say they will strengthen efforts to counter the threat. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. thanks. between the split united states and one of its most important allies is deepening. the philippine presidents has annou

hanjin collapsed in august.f why he did not specifically say -- he did say there is need for some consolidation in the industry. >> in general, if there was an partner and a right coming around, we are open to acquisitions that i cannot speculate on specific cases. li & fung cigna consolidation would benefit overall but as always, and in missile disruption when overall -- consolidation will help the ship balance out the supply demand and will help the product quality and benefit shippers. consolidation is good for the industry. maersk has also launched a new route to pick up jine of the slag led by han exiting the business. he also said that they are seeing more stability on the routes and looking to get high utilization of their ships. maersk is the world's largest shipping container company with here, itobal trade but only actually ranks third with 8% of capacity. analysts suggest that maersk will snap up some of the assets from hanjin. that could double its market share. ahead ofrently quiet third-quarter res

hanjin shipping of 24%.ch that space. .7%,here, singapore, down waiting for shares of dbs to get underway. more details on that deal between dbs and anz. the mood this week is risk-averse. be on the gdp headline friday, e-mails, fbi, and inlary clinton, a narrowing the polls, the mexican peso selling off, stocks pulling back, and the dollar fell. the dollarnt, continuing to recover, but everything more subdued. still early this monday. some data out, not much in terms of a catalyst for markets. one thing i do want to mention is what is happening in south korea with the president there. the currency really taking a hit on top of what we are seeing with the dollar. the south korean won down for a fifth straight day. thanks. let's get over to first word news. shipping hanjin receiving five initial bids. it has pushed back the deadline for final bids to november 10. the court overseeing the receivership declined to disclose the fifth bidder. oil falls after opec fails to agree a deal with other major producers.

interesting as well in terms of picking up the slack from hanjin being grounded.sk has launched a new route which sees six vessels a week move through the asia pac region into the u.s. they've got a new route starting from tomorrow on their triple star vessel, which is going to start in new zealand and service asia, including south korea, china, hong kong, and japan. this is to try to service that jen and -- that demand for fresh fruit and vegetables, and meat from new zealand. there is certainly a lot of demand for transpacific goods. angie: reporting from one of the world's busiest ports in hong kong, thanks for that. over to singapore now, where home prices have posted their biggest drop in years as the government sticks with cooling measures. let's get to southeast asia correspondent haslinda amin. a further drop in prices, but is it enough? haslinda: the short answer is, not really. prices have not dropped far enough. that is why the government says it is too early to remove the property cooling measures yet. prices have fallen for this 12 straight quarter. t

hanjin's assets up for sale. company filing for court protection back in august, leaving $14 billion worth of cargo stranded at sea. ceo whether heac has his eyes on hanjin's assets. >> in general, we've always said if there was an interest and the right partner coming around, we are open to acquisition. i cannot speculate on specific cases. juliette: do you think there needs to be some consolidation? >> we have long said that consolidation will benefit the shippers overall. consolidation will help the shippers balance out supply and demand, help the product quality , and benefit shippers. >> can you tell me a little bit about breaking up the band, splitting the energy assets and focusing more into shipping? how is that going to work in the region? >> there are significant relationships between our sister companies and ourselves. this strengthens the bond between us and helps us grow the top line. this exercise has been done to grow the top line of the group overall. we think this is a golden opportunity to work

angie: hanjin shipping jumped. what is going on there? rosalind: hanjin shipping has basically put itself up for sale. it has received five initial bids for its u.s. to asia business. that includes bids from korea shipping association and the private equity firm. there was a fifth bitter who wasn't disclosed. hanjin, though, is winding down and is in talks to sell its stake in long beach port containers in the u.s. it is part of the fallout from having filed for bankruptcy protection in late august. angie: this -- manus: what have they actually said? rosalind: the korean government has offered help financially for the shipping industry. $9.6re going to spend billion by 2020. aboutill also provide $5.6 billion in financing to the shipbuilding industry. korea is home to three of the world's biggest ship builders. there's going to be some heavy restructuring according to the finance minister. byy're going to be cuts 2018. all in a bid really for survival into the future. manus: rosalind, thank you so much. rosalind chin with the latest on th

hanjin's assets are for sale.orean shipping company filing for protection in august, 14 billion dollars worth of cargo stranded at sea. i asked earlier today the a pick he has-- whether or not his eyes on hanjin assets. >> we have always said that if there is a interest, we are open to acquisition, but i cannot expect it. juliette: do you think there needs to be consolidation in the industry? long said that consolidation would benefit the shippers overall. there is always an initial -- it will help the shippers balance out their supply and demand and product quality. we think consolidation overall is good for the industry. juliette: can you tell me about breaking up the ban? focusing more into shipping? how is that going to work in the apex region? >> there are relationships between our sister companies and ourselves. this strengthens the bond between us and helps us grow. this exercise has been done specifically to help the group overall. this is a golden opportunity for us to try and work on more synergies to he

as awant to sell hanjin complete entity. shares down 11%.ia's biggest beef producers is under threat after an offer was beaten. rinehart bid for kidman. collins offersl a $6.4 billion deal for the largest equipment supplier for aircraft cabins, a deal that represents a 23% premium and expected to be completed next year. good to see you. draghi --rio relatively unscathed, what is the one thing you watch for this week? >> i don't think there is much data this week. have bigger news when we get payroll numbers and go to the election, but i'm not expecting banks,ti from central so hopefully this will be a relatively stable and quiet week. i want to throw out this chart here. the vixtly fixate on for stocks. 10 year yields sharply higher. should we be concerned about complacency? there is a lot of negative news out there in terms of central banks ending qe, the fed hiking in december, rising inflationary trends that could push yields higher. that is not our base case scenario. in a lowill growth-low-inflation environment. yields represent more a

some breaking news out of seoul, korea, hanjin surging.ncing program to include bulk ships and tankers. shares surging more than 25% this morning out of seoul, korea. south korea said to double the ships financing program to $2.4 billion. that is the latest news out of hanjin. hyundai heavy when spin off his non-shipping business. industrial production in japan unchanged in september, falling short of expectations. it is the latest snapshot of japan's economy and central bankers discuss monetary policy. weight should we put on these factory output numbers? what is the biggest take away for you? industrial production and retail sales came in flat, weaker than what the market had expected. coming on the back of consumer price data which shows a drop last week. weakening household spending data, all still pointing to a relatively weak economy. what is interesting also is that with corporate earnings this week, we are expecting companies about 15% drop in operating income in the quarter that just ended, so even on the corporate front, things d

rishaad: hanjin steaming ahead, the court selling core assets this week.8.8% gain at the moment. it is quite a move. the court said it wanted to dispose of the container line as an entire entity, but then agreed to a piece by piece sale here it -- sale. landed a deal to sell a dozen dreamliner's to china southern airlines. will seebillion order the aircraft delivered over three years, starting in 2018. when combined with the previous deal, the order tally for the year for the 787 has doubled. rishaad: getting that fixing out c, a little bit weaker. haidi: it comes on the back of most asian currencies weakening. we were expecting more from the pboc. let's take a look at what is going on in the markets. we are joined by tom murphy. great to have you. we are pouring through these fmoc minutes. the level of dissent was quite stark. >> it was. i think we have now come to the realization that the fed had all the information it needed to hike in september. they almost certainly will move in december. i think janet yellen will be onside with that move in contrast

stocksting, even with the hanjin, it may be holding up.we look at a one-year. 4122, we see clovis oncology holding a moving average. you have some support behind this. cross.me on a golden even with today's big plunge, they may find the core and stabilize. it looks pretty flat. big winner or boost for the nasdaq biotech index, asight is nicely higher phase one data for a melanoma drug. he is saying the study is maturing quite well. they have raised the price by 20%. this will climb by 20% from here. this is a good ire tech stock. the first's check on word news. south florida escape the worst of hurricane matthew. the storm is pushing north. it was downgraded to a category three storm. of storm has sustained winds 120 miles per hour and has brought torrential may -- rain. there is a risk of deadly storm surge. there is a report that a group of height profile defectors will establish a north korean government in exile. the defectors will live in the united states. they will try to install a democratic political system in north korea with an

oakland, allowing transport us to drop off the containers with no other place to go, belong into the hanjin shipping line, and the company is gone bankrupt and it could take years before the south korea court decide on the future. >> we may be the only port accepting the return of the empty containers. the acceptance of the empty boxes from the bankrupt shipping line is the latest example of how everyone really wants to come together.>> the port of oakland says there could be 400 more empty contents containers, and in the future they will likely sit there until bankruptcy proceedings in calgary a are resolved which could take two to three years. one bit of good news is that truckers were able to drop off the cargo in the containers, and the product has been delivered to the stores. >>> after 45 years of business, the bookstore in the mission district will be closing for good next month, the modern times bookstore posted a letter on the facebook page saying it is going out of business saying that business is unsustainable, and it says the store is not operating at the level it would like, an

guest: we have had many requests from customers to help out in the situation that hanjin is facing.that situation, we have launched a new service going from china, and that has helped alleviate some of the distress that our shippers have been facing. reporter: what have we seen in terms of shipping rates that have been declining? you see any improvement? guest: i can't comment on the future, but we have seen some stability right now. that has been alleviated ahead of golden week, some of the distress the shippers have been facing. now china is going into the weeklong holiday, -- there has been a significant upsurge in demand right before golden week, so we see that as a positive sign. maersk says it is not going to be building any new vessels. any interest in snapping up other companies assets? hist: we can't comment on is a bit like that, but we have already said if the white partner comes around, we are open to acquisitions. -- if the right partner comes around, we are open to acquisitions. we have long said that consolidation would benefit shippers overall. overall, consolidation

there was some talk that maybe some of this might be related to the hanjin shipping bankruptcy.that. bottom line it was disappointing. but notice shanghai was up. shanghai and shenzen markets were up. hang seng down, what this tells you locals there weren't that concerned with the import/export data. hang seng, hong kong, a globalized macromarket was concerned. you'll see korea was also down. they had recent balance of payment data also weak. so the picture is flat to slowing global economy at least over in asia. the question is where does this fit in with the yellen thinking. that's why it's important. you can see carryover into europe where bank stocks were weak, some of the big conglomerates were weak, siemens, diamler and autos usually respond to global macro data they respond, also on the weak side. in the u.s., bank stocks, technology stocks and energy stocks, what's down today most? bank stocks, technology stocks and energy stocks. taking little profits on what's done the most. what's the laggard? utilities and telecom, what's up? utilities. taking profits reversing going