let's get out to haslinda amin. she's got your first word news. haslinda: hey there, manus.trump has officially become the republican presidential candidate. in his acceptance speech at the convention in cleveland, he cast himself as the outsider who can repair a nation teetering on disaster. trump reinforced his campaign themes, including cutting immigration and criticizing his democratic rival. clinton's legacy does not have to be america's legacy. the problems we face now, poverty and violence at home, war and distraction abroad, will last only as long as we continue relying on the same politicians who created them in the first place. haslinda: hillary clinton is poised to unveil her choice of running mate today. according to a person familiar with the plan, the nominee will seek to recapture the attention of voters after a week in which donald trump and the republican party dominated political news in the u.s. kaine, agriculture secretary tom vilsack, and senator cory booker are said to be among the favorites. imf chief christine lagarde has blamed brexit for downgrading

let's have a look with haslinda amin. what is new here? what we now? -- what do we know?know is, the malaysian government says it will cooperate, and if wrongdoing is proven, the level be enforced. one minister pointed out, any claim must be treated with caution and must follow legal process. the malaysian opposition made a common today, saying the prime minister, who was chairman of address the issue. the reactions after u.s. prosecutors say they will take action to seize assets worth about $1 billion. civil lawsuits have been filed. loretta lynch had to say this. sadly, aunately, db leaderscorrupt 1m treated this is a personal bank account. haslinda: a similar sentiment from the fbi, saying the malaysian people were defrauded on an enormous scale. strong words there. prosecutors say billions created from 2009-2015. named?: who has been has anybody been named in the complaint? do we know who is involved? haslinda: yes. people were named. two people mentioned in particular, the stepson of the malaysian prime minister. he partly owns the production company in hollywood, re

let's get first word news with haslinda amin. haslinda: barack obama says americans must reject the message of here and division being delivered by donald trump areelect hillary clinton speaking in philadelphia, the president said clinton has vision and the discipline to move the u.s. forward. crisis,in the midst of she listens to people and she keeps her cool and she treats everybody with respect. no matter how daunting the odds, how much people try to knock her down, she never ever quits. haslinda: fed officials have upgraded their estimate of the u.s. economy and taking a step toward raising interest rates later this year. at the mostly -- f moc members -- labor utilization has shown some increase but acknowledged that inflation remains too low and fell short of signaling that a rate hike could come in soon as september. --the merkel is breaking up angela merkel is breaking off for vacation to defend yourself against criticism. the chancellor planned to remain out of public view during the summer break answered questions this a

let us get the first word news with haslinda amin. inda: barack obama says america must reject the message of fear and division being delivered by donald trump, and philadelphia, saying that clinton has the vision and discipline to move u.s. forward. president obama: even in the midst of crisis, she listens to people and she keeps her cool. and he treats everybody with respect. and no matter how daunting the odds, no matter how much people tried to knock her down, she never ever quits. angela merkel is breaking up her vacation to defend herself against renewed criticism on the refugee policy, following a rash of violent attacks in germany. the german chancellor, who it planned to remain out of public viewing during the summer break, will answer questions this afternoon for the first time assaults left 13 dead. three of the assaults were committed by a asylum seekers. u.k. consumer confidence plummeting to the lowest level in three years, and more households believe they will be worse off as result of the brexit referendum results. a se

guy: thank you very much indeed, haslinda amin talking about singapore. t happy.hiladelphia fed president patrick carter says the u.s. economy shouldn't sustain much damage from the brexit vote. he will not vote on policy until 2017. also said that more than one rate hike might be warranted this year. >> i believe inflation will return to target sometime next year. considering economic projections, it may be appropriate for up to two additional rate hikes this year by that we will approach 3% the end of 2018. guy: julian, a, he's got no vote, and b, i suspect he's got very little credibility if he's talking about two hikes. julian: the market is looking for one hike probably. december has been talked about. i think janet yellen is going to be very cautious. she will want to see what the effect on the global economy is of the brexit vote and how that is not going to factor into europe and consequently i suspect they will err on the cautious side. caroline: julian, you are saying the market is potentially factoring in a one-time hike. looking at the world interest r

let's go to the southeast correspondent haslinda amin. is brexit dean seen as a warning? seen as a warning? haslinda: the worry is that asean faces the danger of being a product of the elite. the egypt trade minister said exactly that, and he said, not enough time, money, and assets spent on socializing it to the people. the people they are supposed to is 10ing, asean countries, 600 million people. trillion.dp of $2.5 you can appreciate these are a different state than development. but the recent bonds, asean removed terra founders -- barriers -- tarriff barriers. the goal is to remove more by 2025. the integration process has not been without its challenges. it has been difficult. yvonne: that is true. there are constructional changes you can compare with asean. they have separate central banks. how closely has aussie on tailored itself to the eu? haslinda: we cannot say the eu has been a source of inspiration, but it is made clear on several occasions, the eu is not the model asean has taken. the model is unrealistic, even utopian. brexit is a warning that aussie on shou

i'm haslinda amin. this is bloomberg.h china deflation softening and prices falling for a sixth straight month, how much pressure is on the pboc? let's ask the greater economist at bank of america. when you talk about these figures, factory prices, our economists say they are actually doing a good job for them. the cpi hedging down for this month. you excited about these figures at all? >> think it's good news. pressure remained muted and therefore the pressure on the pboc to immediately act is pretty low. however, going for it depends on two things. one is, how much of the inflation will comprise of the upside, especially after the major flood in most parts of china. and second, -- in the north part of china. second, how much liquidity outflow that the depreciation would trigger and future. if that is continuing, that is probably adding pressure for the pboc to inject liquidity into the market. yvonne: they could provide a buffer, and liquidity back stock, but will it be strong enough to make incredible stimulus? >> the

haslinda amin has the latest. there is another twist to the scandal. slinda: call it a one-two punch. first the u.s. justice department filing soon after singapore with its own soundings on the investigation, and it says it is not done yet. you talked about ubs, dbs. also the standard chartered and felt in bank. they were singled out. the list could be longer. some of the financial institutions are being investigated as well. they referred to as certain other financial institutions. mes says certain lapses were , in do delays and reporting transactions. mes receives more than $100 million in assets linked to one mdb. they also revoked the license of swiss bank bsi. it breached money-laundering rules. we continue to see this widened across the globe. what did singapore have to say about these one mdb investigations? how complicated has it been? haslinda: it is a complex web of ,oney transfers and ostensibly disguising the nature of fund flows. we are talking about multiple entities, individuals operating in several jurisdictions. many international banks

here is haslinda amin. says they expect a 2.1 billion dollar cost for the second quarter. the biggest loss is related to the dreamliner, the carbon fiber jet. they also reported hits from the jumbo and a refueling tanker. sachs set to raise money for its first private equity fund since the financial crisis. they may gather up to $8 billion. the fund -- and the firm will contribute a small amount of capital. is officially available in the country where it all begun. after becoming a viral phenomenon, that have can be downloaded in japan, the country that gave earth to the pokÉmon franchise. shares trading higher. market cap has doubled in two weeks. starbucks has third quarter revenue that missed expectations. shoporld's largest coffee chain says same-store sales in the americas climbed 4%, down from 7% in the previous quarter. program of the rewards may have left some customers confused. that is your business flash. forecasting the yen will host its first gain in five years. the strength has but the bank of

let's get our southeast asian correspondent, has haslinda amin. china flexing its muscles again? haslinda: well, call it defiance, college provocative. china is turning a deaf ear to the complaints from vietnam, conducting exercises just days before the hague. the naval drills will be around the islands, set to involve about 100,000 square kilometers, an area that is controlled by china, but claimed by vietnam as well. this is where you will find woody island, where china is said to have about 1000 personnel, also surface-to-air missile systems. as you can imagine, tensions are rising. vietnam is insisting that china stops the exercises, that it should stop threatening regional securities. it also says china is infringing its sovereignty it again,but china is clearly not listening. in fact, it issued its own warning, saying that no other ships will be allowed in the area while the drills are running. here we go again. yvonne: this cat and mouse game just continuing. is the south china sea becoming a flash point? haslinda: the risk is there, if ten

has haslinda amin has more. this sounds like an ambitious project. da: hugely ambitious. $4 billion. the casino is called okata manila. he owns almost 70% of the company of universal entertainment. his massive investment shows his confidence in the philippine gaming market. this project could be a precut of just the first one. he is exploring other such projects and other parts of the philippines. if you are wondering what you can expect from okata manila, 500 handling tables, 100 meter water fountain, and an indoor beach. the plan is to take gamblers from a cow. he is targeting chinese, japanese, koreans. foreigners will account for 30% of the clientele. that should get to 50% after a year. angie: the question is, when to recover his investments and how soon is that going to happen? haslinda: he is looking at about two years. that is what okata's philippines partner says. it will be challenging. angie: we will leave it there. thank you so much for that. we are looking forward to the opening of business in tokyo, where we are seeing the snapping of a

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so many sovereigns are against china -- we have haslinda amin taking track of all of this, thi long listsittle bit irked that china is flexing its muscles again. haslinda: yeah. see it as a show of defiance, conducting a naval it's believede -- to be more than 100,000 square kilometers, an area controlled by china but claimed by vietnam as well. this is also home to woody island, where china is said to have about a thousand personnel and missile systems. understandably, tensions are rising, vietnam insisting it be exercised if china is infringing its sovereignty yet again and that it should stop threatening regional security. but china is clearly not taking heed. it has had no other ships will be allowed in the area while the drills are happening, so here we are again, and beijing upping the ante. the south china sea is fast becoming a flash point here. haslinda: well, the risk is there. if tensions escalate even more in disputed waters, there could be global consequences. there have been competing claims in the south china sea for centuries, but it is only in recent years that tensions h

amin. go to haslinda looking at more further monetary easing coming out of singapore?- are we looking at more further monetary easing coming out of singapore? it is stronger against most other major currencies in the world. against the pound, up 14%. against the greenback, 5%. against the swedish krona, it is up 4%. it is seeking safety. safe haven play simply because singapore has a top credit rating. very unusual these days. accounts ofredit let's. three month ago, it was a completely different story. the same dollar was among the worst performers in asia and that's because of its economic indicators. they were lackluster. that hasn't changed. dollar spells trouble for singapore. it is an export oriented country. so experts will be had. it will putting question inflation forecasts. -- it will put in question inflation forecasts. so watch out for october. yvonne: singapore such an open economy. how badly has it been hurt by brexit ends global slowdown? haslinda: it has been hardened it is likely to be heart even more. brexit does complicated things for singapore. to t

movieda amin, it's like a , literally and figuratively. haslinda: you are right. it has taken us all over the world. this morning, the malaysian government reacting to the u.s.,ents made to the saying it will fully cooperate, if any wrongdoing is proven the law will be enforced. one minister pointed out that any claim must be treated with caution, it must follow due process. the malaysian opposition making comments, it says the prime minister, who was chairman of must address the country on this issue. reaction coming on the back of u.s. prosecutors saying they will take ask -- actions to seize assets worth $1 billion. civil lawsuits have been filed. here is what lord -- loretta lynch had to say. >> unfortunately, tragically, a officialscorrupt treated this public trust as a personal bank account. a similar statement coming from the fbi. it says malaysian -- the malaysian people were defrauded on an enormous scale. werecutors say billions misappropriated from 2009-2015. i want to show you what has transpired in singapore in the last few minutes. singapore has been