rishaad: only out of hong kong. >> only out of hong kong. right, ok, but what about the other ports? is building up ports, so that's taking market share away from hong kong. more data through the month of may that points to another time span of slower growth. consumer sentiment was up slightly, then we had things from the private sector, the sales managers they're showing a bit more confidence, also an index that looks at satellite imagery. all sorts of things, by do as and medium-size enterprises, how many people are looking to set up smaller businesses. that is showing slight positivity as well, but overall, data pointing to more sluggish growth for china after that positive data in march and negative data in april, continued negativity coinciding with this message from leaders in beijing that seem to suggest they are happy to keep a cap on debt levels, even if that means slower growth. rishaad: right, taking a look at toyota. it's looking positive, 1.9% higher. it is making a strategic investment in uber. our asia car editor is in tokyo.

it is already rocking hong kong's economy. there are some signs of leaking and hong kong's economy.es of charts represent this. the first one shows hong kong's chief executive is the city's least popular leader since the return to china's rule in 1997. we also have the slump in retail, property, and financial sectors. this is a poll done by hong kong university. is hoveringty around this 40 point level on a scale of 0-100. it already started at a lower base then his two predecessors. butpularity is one thing, we have some more measurable metrics. they show that hong kong's economy is starting to slow down. this is about retail sales. ,oing back to june 2010 to now we have been seeing this downward trend coming through in retail sales. february,ig lunch in but over the first quarter of 2016, down by 12%. that is due to the crackdown on luxury and excess, but we have seen this play into the overall economy. contracting .4% in the first three months of the year compared to the prior quarter. that was the steepest drop since 2011. also, the drop we have been property hong kong prices. y

hong kong time. pan,finance meeting in why one of the most pressing issues is not on the discussion list. protestersg kong, and china's third-largest official. you are watching "trending business". ♪ kong,is 9:17 a.m. in hong and these of the stories making headlines. canada's suncor energy has evacuated thousands of workers as wildfires shift. the wind change happened as the company was resuming work. destroyed onas tuesday. the fires have cut output i 1.2 million barrels a day. the u.s. has eased sanctions on myanmar as it makes progress towards democracy. on kenton lifted curbs state companies and banks. thailand has concern that it is barring all visitors to a popular island. it will be off-limits from october. the island has the common extremely popular. all of thailand's marine national parks are closed for the rainy season. powered by over 2400 journalists and 150 bureaus around the world, this is bloomberg news. china's third most important official said he listened to differing views on hong

have ipo sales in hong kong down 41%. 64%.sales slumping street protests or not, the hong kong economict may already be rocking. angie: let's bring you live to anoint were vietnam is holding -- hanoi were vietnam is holding a welcoming ceremony for president barack obama. he is standing there with the official greeting from vietnam. enemies. two former someone else is looking at this visit with a little bit of apprehension and we are talking about china. china warning this visit should not disrupt regional relationships. president obama has said there will be -- there will be -- boeing with a multibillion dollar deal with vietjet. greek lawmakers have approved a fresh round of austerity measures. the prime minister secured 153 votes. opposition parties rejected most of the measures. euro group leaders meet tomorrow. it is considering closing its factory and will make a final decision by the middle of this year. chinese demand for jets falling due to a lack of government incentives. chinese tech firms are going online and the search for crowdfunding. we have been taking a look into this.

two months ago a political party was founded to make hong kong independent. >> we want hong kong to be an independent country to maintain the identity of hong kong peoples. x it certainly calls for self reflection on the part of the chinese leadership. why this very sharp deterioration in relations between mainland china and hong kong within a very short time? >> thoususainst y disturbances during the three-day visit, but pro-democracy groups have announced demonstrations for wednesday. >> she is south africa's top lawyer, known for trying to keep the politicians honest. she has been awarded the 20 16 german africa prize for her efforts to crack down on corruption, efforts which led all the way to the president. the government has made her popular figure, but has also made some enemies. she is currently under police protection after receiving death threats. to iraq now or three bombings across the capital of baghdad have killed at least 68 people, wounding dozens more. a suicide bomber blew herself up in a marketplace in the city's north in an attack claimed by the so-called islamic st

is it a challenge in your eyes in hong kong?tive,rtup we are at this stage of capital raising. there is been some volatility in the later stage markets but we haven't seen a drop or an increasing difficulty and fundraising. what we keep coming back to his the needs of the startups to gain commercial validation through corporate partnership. once they have achieved that, really getting that transformation or agreement, contract, adoption integration. so raising capital is not an issue. have thisu partnership. hong kong, and singapore. do think as a partnership, where is the opportunity there? >> originally, you had a lot of startups looking to dismantle, wanted around what they to do with the incumbent players. now as ecosystem is developing, a see it's a complement, not substitute. a lot of the startups, their pathway to commercial validation is through corporate. we see a lot more scaling up businesses within the incumbent corporate. equally on the corporate side, they're much more open to innovation. we help them with programs

what hong kong can be very good at. ofphen: a little bit knowledge -- all of branch to hong kong.said hong kong can play and should play a great role in furthering china's development and that includes the initiative. just half an hour before trading kicks off. this is a live look out of victoria harbour. it is a foggy day here in hong kong. hitting the brakes too hard. the imf warns abu dhabi against overdoing austerity in the wake of lower oil prices. spending growth in the first quarter but business investment went backwards. shares plunge after finding an issue with its economy testing method. it is 12:30 p.m. in hong kong. ands: it is 8:30 a.m. dubai. and: still to end a half hours before we get there. that's talks are some of the things we will be covering on the european programming from the top of the next hour. every will be a focus in the luxury part of the corporate reporting season. giving us their full-year earnings numbers. it has not been a great reporting season. and the problem for burberry is buyingese shift from has 2%goods -- it only of its sales coming from th

they have been steadily declining, and we actually saw a 12% slump coming through in hong kong retailin the first quarter due to the crackdown on anticorruption and the selling of luxury goods. kong's economy unexpectedly contracted .41% in the first three months of the year, compared to the prior quarter. sinceas the steepest drop 2011. a plunging retail having an impact on the overall economy as well. we are also seeing property prices under pressure. you can see hong kong property prices have fallen by 12% over , andast -- from their peak a number of people are calling for property prices to fall even further, goldman sachs producing a further 20% drop as we see borrowing costs soar. these metrics as well as ipo hong, and it seems this kong economic boat may already be rocking. angie: coming up, excuses excuses. we will take a look at some of the more unusual reasons given by companies for missing payments. you' show me top new artist. ah, ha ha. show me top male artist. my whole belieber fan group. it's not a competition, but if it was i won. xfinity x1 lets you access the greates

in hong kong we are seeing good gains after a terrible week last week for hong kong equities.hang seng is up 0.5%, with five sessions in a row of losses. you can look at some gains we're seeing here, but also a lot of those energy producers. talking about oil all morning on this program, but we have been seeing a lot of those energy producers moving higher in hong kong as well. here is where things start to get a little interesting, though. the trade data out of china over the weekend has really put a downward pressure on sentiment in shanghai. so actually holding at a seven-we glow. korea is also -- seven-week low. korea is also trading down, as is new zealand. pretty mixed around southeast asia. having a quick look at some of the other things we are watching. we have been talking about oil all morning, but i want to show you what the japanese yen is doing as well, because that weakness in the yen is really what is driving the sentiment in japan. rishaad: thanks, juliette. more on that and all our news at the new digital destination tailor-made for the middle east, with repor

but just outside the concrete jungle hong kong people are mingling with wandering cattle.you can see many cows and buffalos here. but they actually don't belong to the farmers. they were abandoned. an estimated 1,100 cattle and 120 buffalos are on loose. farmers once used them to plow their fields but many farmers have sold their land and left their animals behind. they are now wandering into people's living spaces. some say integration with the mainland has encouraged companies to buy up farmland to make way for more urban development. agricultural space in hong kong has shrunk by 60% in two decades since the territory was returned to china. now less than 2% of vegetables consumed in the city are grown locally. residents are increasingly concerned about relying on the mainland for produce. they worry thatt some foods migt be tainted with chemicals. >> translator: i soak chinese-grown vegetables in water for about an hour to get rid of agricultural chemicals. >> translator: i am concerned about food safety, but there is not much we can do about it. >> reporter: a young far

in hong kong and the resulting tensions between hong kong and china, at least politically. is a very sensitive issue right now with zhang here. 6000 police officers have been deployed. compare that to four years ago, when the outgoing president came. handd about 3000 police on to keep security in place. this time, they don't want any kind of trigger points or protests because going forward, there are some key dates. september will be the key camp wantsere the to get a super majority. march of next year, the next chief executive should be picked not by universal. july of next year is the 20th anniversary. i cannot believe it is 20 years already -- where president xi jinping might pay a visit. yvonne: the growing tension between the two. ties have sunk to the lowest point since the handover. what are we expecting him to announce economically? stephen: he is probably not going to announce anything in particular except there was a lot of speculation yesterday in the stock market which is why we're waiting the opening today in hong kong of stocks. there was a sharp spike up and

if yvonne: i'm in hong kong. what you he looking at today. ? manus: we finally find out how much the saudi's have got in u.s. treasuries. don't forget the $.8 billion. the foreign holders of treasuries. saudi arabia is still in there with a pretty substantial amount. what shocks me is that they are way behind. $1.2 trillion for china. we didn't know what these words -- numbers were since 1974. a critically important point. this is a big part of the story. how much else to they actually have? 20% of their foreign reserves are in u.s. treasuries. that is rather strange. states havereign around two thirds of their dollar exposure in u.s. treasuries. i don't know whether this answers more questions or raises them. what happens next in the treasury market? yvonne: that story is not quite solved. talking about china's debt. we are speaking to him quite a bit about the mainland. what he thinks is the outlook for the chinese economy. he is very bullish on china. looking at leaders from the mainland. trying to transform this manufacturing export driven

not a hong kong trend.an look at most global cities right now, and their valuations on a price to wages metric have surpassed all to thes peaks prior financial crisis. the real estate is the obvious trade here. you are right that an awful lot of the commodities story right now it's highly linked to dollars sensitivity to this fed policy reaction. that june meeting, although people are probably already tired of talking about it, is really fundamental. , theyworth remembering have only managed to squeeze out one rate rise in the last nine years. don't expect them to go twice within a year. there is a premium on setting, waiting. us,ral bankers keep telling but i think we have a bias toward some action. anna: i think the work function on the bloomberg suggesting only a 10%. good morning. this takes me back to late 2015. ubs call the london market as a bubble. a negative rate environment, a floorhink there is under global property, and therefore it is not the same issue we had in 2007 at 2008, we saw a huge amo

hong kong exchange is coming with this first quarter. 1.4 billion hong kong dollars works out to about million u.s. dollars. let's look at what is going on here. hong kong exchanges, $185 million in the first quarter. that is news breaking right now. thank you very much for that. saudi arabia has committed to invest billions of dollars into jordan to joint council that will oversee money from the saudi public investment fund. let's take a closer look at what's going on. of the the vice chair arab bank in jordan. great to have you with us. john: thank you for -- guest: thank you for having me. that thethis news saudis would get involved in jordan. you know -- we know what they have done for the egyptians. can you give us a guess of the size of the front? guest: that is to be decided. we are in the first step right now. -- government of jordan and government of saudi arabia will get together at least once a month in order to workout agreements. the objective is to reach agreements on the number of things, including the investment fund. on role the cooperation energy issues, on trade, on

, china, and outside hong kong.k at investment and .ther parts, like railways we have been visiting various countries in the last few months since the belt and road initiative. i've been in very us parts of maggiore at, morocco to look for opportunities and the amazon, and also southeast asia, looking into malaysia, singapore. we have gone down to australia, melbourne, so there are plenty of opportunities there. it's just that no one can do it all. you have to hone in on which one is good for you and your partners. you need a lot of orders in any of these projects. china cannot pay for it alone, especially in a slowing economy, and one where that has been incurred at a high pace. what is your assessment of china's economy right now as it manages this slow down and has to deal with the debt load? china is certainly slowing down. however, it is still maintaining i am stillre, so confident that china will have no problem. are you a bull or a bear on hong kong's property market? if you look at the cycle over the last fe

up.a also weaker singapore hong kong's, -- hong kong, some gains on the hang seng index.n some loyal players rise in crude. a true china leading the gains on the hang seng index. the philippine market closed today for the elections. as a whole, apart from some pickups in hong kong, we are seeing the oil and gas sector lower by 2/10 of 1%. basic materials also being sold off. we are seeing that weakness coming through in australian trade. both sectors up to the tune of half of one cent. oil has been the story of the day. we have a vision of the fires in canada which has been putting an upward trajectory onto the crude price. about one million barrels a day of output has been knocked out as the wildfires expand, leading cuts equivalent .o 40% of oil sands production also, we saw saudi arabia has named a new oil minister. a lot of analysts telling us the that should be good for outlook for saudi arabia and away from its dependence on oil because they appear to be walking the walk. having a look at the european wti also very solid -- up to present. rishaad: we will be back wi

also here in hong kong, they're up by 3%. quite a boost to the oil sector. , this has given a boost to the japanese economy? yes, this was after quite a shocker last week, but it was in the red for most of the session today. on its lunch break, up one half of 1%. we did hear a more good news coming through from the u.s. markets on friday, the likelihood of a rate hike in june a very much dissipating according to many economists and does that -- and that does give you a general impression. ng kong will be good as well of openingsessions up to three quarters of 1%. the trade coming through from china over the weekend has disappointed investors in the asian markets. it is down by 1.8 percent, so it is at a seven-week low there. korea today, the markets are mixed. singapore is looking quite good, going up one half of 1%. we are seeing weakness coming through in australia as well today. see, they are also coming under selling pressure there. toeone has just turned in the red, and new zealand has been in the red almost all session.

up, i'm angiest lau coming to you live from hong kong.reaking news from south korea, industrial production falling 1.3% in april it estimates were for 0.3%. industrial productions down 2.8% for the year. more than expected following the 1.5 percent in april. we will see how that impacts markets at the open. let's check in on the asia-pacific markets. to new zealand we go, climbing 1/5 of 1% higher. 66 u.s. cents. u.s. stocks were close on monday for memorial day. we are also counted on to the opening in other asia-pacific countries. australia futures pointing to a flat the australian dollar is at $.71 u.s. japan pointing to a lower open this morning as we see a slightly stronger yen in play. jobless figures are due out later this hour. continues to be dominated by the prospect of the u.s. interest rate hike, which could come as soon as june. emerging-market currencies on track for the worst month since august. gold falling for the ninth straight day, longest losing run in one year. we will have a market moving him, today, stay tuned for h

hong kong, first-quarter gdp contracting quarter on quarter by 0.4%.s is much worse than expected. we were expecting an extension, expecting gdp to grow 0.1%. that hong kong gdp has contracted. they seem to be still sticking to their expectations. they are talking about the first quarter -- the second quarter being on track anyway. onhave to keep a close eye what is happening in hong kong, whether it is linked to softness from china or maybe crackdown from china on outflows. we will get you more throughout the show. ireland's prime minister enda kenny says his country will stay linked to the eu even if the u.k. votes for a brexit. he also said europe is stronger with britain included. mr. kenny: clearly we identified the fact that britain might decide to leave as a major strategic risk back in 2014. clearly, a decrease in british gp would result in a contagious impact on ireland's economy. we are focused on the fact that it is important the british electorate be as informed as possible about the implications of the decision they must make. while nobody

could hong kong be a contender? take you back to the conference, where yvonne man is standing by. some people know with figure two about startups here. yvonne: that's true. our next guest is the owner of one of the most renowned start of investment firms, living up to his name and backing hundreds of start of the year. joining me now is the founding partner of his own startup. great to have you here. we have been talking about this global funding chill. asia in particular sort of saw this slow down. >> maybe in a few places. yvonne: what do you see as the reason behind this? >> well, i think there are a few factors in the u.s. where there .as a lot of capital in china it was exasperated even everybody wasnk really hoping for the next and i think with the public stock market coming down. other parts of asia are still pretty active. we are seeing a lot of activity in asia and india as well. there are a lot of investors slowing their investments. >> i think it is to their benefit to say it is is kind of a self-serving

it is 9:50 here in hong kong. government has sent air force helicopters and workers to find -- to fight forest fires. dozens of fires are burning and officials say that tiger reserves are threatened. the flames come following two years of below average monsoon rain. the government is investigating how the fire started. ordered an judge has 72 hour block on a messenger service for failing to turn over in a drug- data trafficking investigation. the judge said that phone companies that fail to comply will be fined. tsapp says they do not have the him -- the information the investigators want. of the late superstar, prince. he left no known will. his property holdings in minnesota alone are valued at $27 million. he is thought to have recorded thousands of unreleased pieces. powered by over 2400 journalists around the world, this is bloomberg news. rishaad: new-home sales grew annualized and our next guest runs over the biggest crowdfunding platforms. joining us now is roderigo. roderigo, thank you for joining us. how

hong kong set it off, positively.the hang the shanghai composite is moving higher, as well. rally, two week highs. a bit of a pullback when it comes to the yen, and what is going on with the nikkei 225. up, and gadgets for all at a consumer electronics show. we will be live in shanghai to give you a more detailed look at what is going on. think of it as an destination, bloomberg.com/asia. ♪ ♪ >> from our studios in new york city, this is charlie rose. charlie: president obama is considered one of the greatest communicators to be in the white house. he has drawn comparison to martin luther king jr. here's a look at his speech last year, commemorating the 50th anniversary of bloody sunday. president obama: we are well served to renumber that at the time of the marches, many in power condemned, rather than praised them. back then they were called communist, or half breeds or outside agitators.

problems in hong kong as chinese demand has shifted from hong kong into japan.ing percent of sales come from japan in that market. has been weaker in the face of terror attacks. they are telling us more about the plans for the business, details in their three-your plan to drive revenue growth. they plan to deliver 100 million pounds worth of cost savings, this coming from christopher bailey and management at burberry. let's switch gears and talk a little bit -- on burberry, they say they see challenging external environments continuing. we've got numbers coming through. pretax profit of 4.70 pounds. just a touch below estimates there. they say the see good underlying performance in the year ahead. the dividend per share, 100 $.22 per share against an estimate that was less than that, 119. that pretax number looks to be a little bit light. this is the business that is due to be bought by anheuser-busch later this year. this is a essay be preparing to get absorbed into their belgian rival in what will be the industry's biggest ever deal. they are still trying to w

hong kong is unique.s, it's the only exchange charging a minimum fee on execution. rishaad: thank you very much indeed. a quick check on some other stories we are covering. , they'vetock exchange introduced new rules to restrict trading halts designed to -- suspensionss shutting down half the stock market last year during the $5 trillion selloff. msci's inclusion would be dependent on changes implemented. halts will be kept at three months for big asset restructuring. arranging funding for acquisition of monsanto. they will probably raise more than $40 billion in finance, and most of the remainder in term loans. rejected an initial $62 billion offer as too low. funding negotiations are ongoing. talks.crane maker ending the company says it disagrees with the offer price. the decision clears the way for a rival, which had offered to buy the unit for 1.3 and dollars , the finnish company said it will go ahead with the deal as planned. surging by more than 13%. net income jumping sixfold. talkednder and group

before the speech, he met for pro-democracy members of the hong kong assembly. analysts say beijing may be showing readiness for dialogue with moderate pro-democracy leaders to isolate more radical activists. >>> as victims seek justice, there's no shortage of blame to spread arrange. we have this story of how this all began. >> reporter: 13-year-old has been suffering from a lung disease since he was 1 years old. after he was born, his born bought disinfectant to clean the humidifier. >> translator: i just bought the product without thinking if it was safe. >> reporter: at the time she had no idea the product would give her son serious health problems. it was made by british form, a company she was familiar with. the package carried a labor stating the product was safe for children. >> i fully trusted the product was safe and that it went through proper safety tests approved by the government. >> reporter: after one year he was hospitalized. he needed oxygen and feeding tubes to survive. doctors had no idea what the cause was. but his mother was to learn the se

but it's not only burbury who is suffering from the hong kong exposure.ong kong is a big market for the luxury names. also the realistic costs are significantly higher. and the massive amounts of luxury locations of these stores in hong kong, definitely cost effective, very, very high. at the time when burbury is saying they're doing massive cuts and on behalf of that they're going to be investing in the omni channel. that's a little bit of a contradiction and where analysts believe it's a little cautious. >> so when you talk about these cost cuts, additional investment, that's more of the company's specific investments we're looking at. christopher bailey, do you think he survives in this world if the company does not substantially improve here. >> all of us at thomson route gers are very, very bearish. it's expected to be flat, we do not expect to see growth in the near future. >> finally because we're seeing retailers disappointing in the u. u.s., what do you see here? >> well, for burbury, they haven't been as resilient. there's definite brad specific

cpi numbers out of malaysia later on at noon hong kong time.ning 2/10 of 1%. , fairly stable, trading at that 110 handle. up about a225 is 10th of 1% as well. the retracement in the u.s. dollar gives a boost to oil prices and commodities. taking a look at the movers of the day, it is about the energy names. part of this is bargain-hunting after steep falls. we're also seeing gains across some of the big miners. not the gold miners. we are seeing gains coming through from a number of big miners. rishaad: thanks. increasing prices to avoid weakening the yen. a warning that currency intervention won't help to boost growth. central bankers are in japan today. is the u.s. administration saying here? u.s. is ramping up the rhetoric when it comes to fx policy as the g7 leaders are meeting this afternoon. policy, this to fx is what the u.s. said overnight. and time when global growth trade flows are weaker than they should be, any movement from a country on its currency would send a signal that it is trying to boost its competitive advantage. ultimatel

it is 12:30 here in hong kong.: it is a: 30 here in hong kong. 530 here in london -- counting down to the beginning of the trading day in europe. a real reminder just this morning about the way that politics can play into your investment strategy and it takes a number of forms in the european day ahead. let's talk about the turkey story per you have been talking about turkey already this morning. president erdogan, and the prime minister falling out. the leadership contest the prime minister role set to take place printer prime minister is not on that list, according to people familiar with the story. the prime minister will be leaving by the end is made. raising questions once again about how resilient the turkish democratic institutions are for this power grab that the president has unleashed and it seems that groups saying it is going to be a hot summer in turkey suggesting that it could be more of this to come? manus: when we look at the market reaction, the lira is where a lot of it is playing at. when he goes

we are going to the shanghai and hong kong open. david, what have we got?at a start up with the japanese yen. of japan, youk push,ther options, fiscal destructive reforms. we won't obligated. and we have what is on the left flank, the aggressive marketing stimulus. here is today's. range, 14irly wide hours. the yen has gone to one of 5.50. dollar-yen as high as 107, 40.107. little bit above it. but a lot of this has to do with the dollar value overnight, it gained against the yen, also major things in puberty market currency. this comes down to -- major things in emerging market currency. don't overlook the possibility that the fed moves in june. , itn stay the way they are gives real options. that is the key take away. dollar-yen also up, but not as much as the japanese policymakers want. how to the nikkei newspaper, pointing a finger on the amount that japanese exporters may have to take as a hit of profits this year the jets of the divers -- adverse move in the yen. ¥1 trillion. currency be a stronger domestically. aussie dollar's, back below $.75, and t

looking ahead, our hong kong -- are hong kong rises heading to know lows -- new lows?uity trading session. another day where we are seeing declines across the board. businessning back to after three days of holiday, on its way down. sydni, also down. you are watching -- sydney, also down. you're watching bloomberg. ♪ iaae-m" ♪ announcer: from our studios in new york city, this is "charlie rose." we begin tonight with politics. after a landslide victory in last night's indiana primary, donald trump has become the presumptive republican nominee. his wing forces the main opponent, senator ted cruz, to withdraw from the race. john kasich has also ended his head. , donaldictory speech trump vowed to go after hillary clinton. donald trump: ted cruz, i don't know if he likes me or if he doesn't like me, but he is one hell of a competitor. he is one tough -- a smart guy.

hong kong looking flat on its open. in response to its fourth-quarter numbers coming through yesterday. the nikkei 225 still up 4/10 ofo gains, 1%. a similar gain in australia. doings in southeast asia quite well. the philippines online with 2/10 of 1% gain. we are on track for the first weekly gain on the regional index for the month of may. it is the last full trading month of -- week of the month, and we are seeing every sector moving higher on the regional index. good reports coming through from oil and gas stocks, even though we saw crude fall below that $50 a barrel mark. the one-year chart of lenovo, down 37% year to date, and it is coming under pressure and early trade today. fourth-quarter revenue dropping by 19%. that, but $4.90 in the early session in hong kong. rishaad: thanks. we will stay with lenovo. she interviewed the cfo after results were released. she is with me now. tell me all about this. what did he have to say? were predicting a tough corridor, and it was worse than they expected. that wehim for

in london and midnight in hong kong.bloomberg markets." ♪ scarlet: from bloomberg world headquarters in new york, good friday afternoon. i am scarlet fu. alix: i'm alix steel and here's what we are watching at this hour. the yellen countdown begins. stocks coming to a high in three weeks. in an hour, she will speak at cambridge. will she give away the timing of the next rate hike? scarlet: the need for transparency and biotech firms. we explore the issue with an extreme academic from stanford and my most published findings are false. alix: getting out of town this weekend? get ready to wait. airport are expected to spend millions the summer to avoid long security lines, but will it be enough? we will look at the tsa solution and what that means for your travel season. scarlet: you are not going away, are you? alix: i drive.

nhk world, hong kong. >>> the u.s. has once again sent a warship into disputed waters in the south china sea. the vessel sailed close to one of the artificial islands being developed by china. this is the third such operation by the u.s. since last october. the u.s. department, defense department, announced that it conducted the freedom of navigation operation in the spratly islands on tuesday morning. it said the uss william p. lawrence travelled within 12 nautical miles of fiery cross reef. the department said the aim was to challenge attempts to restrict navigation in violation of international law by china as well as taiwan and vietnam. china has developed the reef constructing a 3,000 meter long runway where a chinese military plane landed last month. officials in beijing criticized the move. foreign ministry spokesperson said the u.s. action undermines regional peace and stability. >>> lower prices for resources including crude oil and metals are creating problems for japanese trading houses. gene otani has the d

the big controversy there was not just over hong kong government being part of china, but the hong kongovernment was not trying to censor any press. some of the press organs were who wanted tons ingratiate themselves with beijing. you can have private sector self-censorship. it is been an issue in britain with the murdoch press. there are other elements. can sometimes come from other sources other than the government. melinda: let us take a closer look at that aspect -- the different forms repression can take. i want to take a look at the world press freedom map. world press freedom day is around the corner. putsters without borders out a map where we can see the press freedoms are under threat. what we see there is that more countries where press freedom is under threat then where press freedom is open. places in the world, press freedom is on retreat. reporters without borders says europe has the freest media. ,frica interestingly enough coming in second place surpassing the americas for the first time. ,astern europe, north africa middle east, all find themselves towards the bottom o

look at the hong kong import, chinese import data from hong kong, the numbers over the weekend.ed about 204%. even as it stabilizes, even as the you want stabilizes against -- the yuan stabilizes against the dollar, industry says they will weakenthe yuan over the year ahead. that brings us back to the reserve story. stability for now, but no one thinks this flow intervention story is going away just yet. anna: thank you very much. is still with us here on set. we spoke briefly about china. let's return to that subject. the fx reserve data stabilizing of it. flows continue. are you reassured? peter: not particularly. mentioned the structural forces that have been driving china's economy and will continue to drive china's economy. whether china is cyclically recovering or otherwise is kind of irrelevant. chinary about whether will be able to smoothly make this transition from a very asset-oriented economy to one that is more oriented around consumption, more oriented around services. it is extremely difficult to do. if anybody is going to do it, then a command economy like china h

hong kong hit burberry hard. you know the trenchcoats.t seems as though people are not buying them off the racks quite as quickly as they used to, profit sinking to the tune of 10%. they warn 2017 is going to be at the lower end. they are taking some big steps to try to cut costs to the tune of 100 million per year by 2019. they are looking to hand cash back to investors. the stock keeps on sinking. there is a concern about exposure to china. we are expecting burberry to maybe 2%her from 1433, or 3%. chinan eye on kuka as buys into this robotics maker. watch out for kuka. guy: four minutes from the market open. it looks like we are going to see a negative start. it looks like we are going to open down 6/10 of 1%. keep an eye on burberry. as caroline was saying, up next. was saying, the market open up next. ♪ guy: good morning and welcome. you are watching "on the move." i'm guy johnson and i am alongside matt miller. matt has your morning brief. matt: thanks very much, guy. they do have a view. why is the market paying attention to the fe

hong kong, what do we have?on we have retail sales top of the data points rish pointed out earlier. we have already seen -- mcr raising. retail sales are coming up -- you want to look at the retailers individually. long story short we are expecting a 10% drop in retail sales in hong kong, should makers leading the gains over and south korea on the back of expectations of restructuring in the industry. rishaad: thanks, david. a medium-range rocket appears to have failed, the first launch attempt since the ruling congress took over. peter, what kind of missile is north korea's suspected of testing today? an intermediate ballistic missile, and the key point is ballistic missile, which is banned by the united nations resolution. significantvery that they would again try testing missile technology that is banned by the united nations. rishaad: right. well, how significant, and why is it so significant? because first of all, it is banned by the united nations -- the reason why it is banned is because it's a technology

this is bloomberg. ♪ haidi: we are live in hong kong.ing at a live shot of hong kong. you are watching "asia edge." the top stories this hour, singapore slumps. the ceo leaves weeks after telling bloomberg he should be judged on results. air asia is on the rise. tony fernandez revealed a multibillion offer has been revealed for the leasing unit. is weaker. retail sales have stalled. there is increasing expectation that next year's sales tax rise will be delayed. also coming up, the battle of the theme parks is on. let's get straight to the markets with juliette. jutliette: not convincing, although we are seeing a little bit of a rebound after a shaky start. we are seeing the asian market in china up by 2/10 of 1%. japan is up by 9/10 of 1%. we were hoping for a solid session across all markets in asia today on the back

a potential ipo in hong kong. a $1.1-- rosalind chin: billion ipo in hong kong in the coming weeks. shares being offered, at 42 hong kong dollars each. it will take up 52% of the base offering. china investment corporation and the other fund are each investing $100 million. boc aviation aims to debut on june 1. honda recorded net income falling, missing the forecast by 34%. looking ahead, a stronger yen is like the to impact profits. repatriatedpact the value of profits by japan. this financial year, honda forecasts a rise in net income to $3.6 billion, based on the assumption the yen will be at one average of 105 to the u.s. dollar, compared to 120 last year. policy,tive rate japan's second-biggest lender by assets seized net income falling 11% to $5.5 billion in the year ending march. that is a better outlook then analysts are forecasting. meanwhile, another expects a billion, after last year's earnings fell unexpectedly. yvonne: thank you. the chinese conglomerate that controls the fourth biggest airline is eyeing another overseas acquisition. this time, the target is a logistics

manus: yvonne man in hong kong.a: the fed may delay in interest-rate increase until later in the yearas it eyes risk associated with the brexit vote and the u.s. presidential election. the pimco head of portfolio management for emerging asia. the biggest british lobby for business, the cbi, cut its forecast for the british economy, saying the eu referendum has put a "dark cloud of uncertainty over the outlook." it now sees gdp rising 2% this year. manus: mark carney has defended the bank of england against political critics furious about his warnings about dangers posed by brexit. he says leaving the eu could trigger a recession in the u k. the bank of governor spoke to the bbc. if we are taking a judgment as a committee, and changing policy because of it, putting billions of pounds in liquidity facilities, getting banks to raise capital, as we did a few years ago, against these types of risks -- if we are potentially going to alter the path of interest rates or other instruments of monetary policy because of certai

it was actually hong kong. there's an acronym for people who leave london and go and work in hong kong. it's called failed in london, try hong kong. i'm thinking what might be in an appropriate acronym for what's going on with my entry into american politics at this very interesting time. can you guess? >> donald america looks desperate. so here i am to help. i hope i can do my bit. i don't know whether there's much chance of making an impact in the immediate days ahead but i do really hope to get involved in the political argument here. i think i've been here for several years working on my startup in california. this book, more human has just come out. i don't don't want to spend too much time talking about it because i would love to have some opportunity to hear your question in response to those. i'll just give you a quick scene center for what this book is all about. i start with the story that the book open with because it does get to the heart of why i wrote the book. there's a story in the beginning of

hong kong is home to one of the world's busiest ports.ps deliver more cargo than is possible to inspect. as a result, hong kong has a reputation for being a transit point for illegal trade and smuggling of all kinds. most of the exported tracked devices led puckett to a little known part of hong kong called "the new territories." >> it's really a frontier, it's really cowboy land out there. >> reporter: puckett followed one tracked printer here to a place that calls itself a farm. >> farmland? yeah, that's a great farm in there. you would have no idea that there was a huge scrap yard there until you look over the fence. >> reporter: inside they found printers being taken apart by immigrant workers. >> i am looking for asset tags to tell me where the material came from. i look for the environmental harm issues. i look for the workstations to see how these workers might be exposed. >> reporter: many of the workers handle hazardous materials without protective gear. one concern: printer toner, a probable carcinogen. >> there is no protection

outside ofng them hong kong. ofthey're coming course, we have seen the difference between what has happened with the yuan as well. they were heavily growing numbers into japan last year. their step in a 10% rise in the yuan versus their currency. anna: thank you very much, joining us there from bloomberg intelligence with a look at these regional numbers. lger, let's come back to you. we're seeing a lot of interest in gold recently. not just because it looks nice to wear on your wrist as some people might suggest. also, because some are suggesting central banks around the world are still the valuing currencies. do you think gold goes higher on that kind of an argument? holger: i don't think it should go much higher, no. central banks, they're not really heavily buying into currencies across the board. the ecb is not into that game, the u.s. fed is not very much into that. in japan, we have the reaction now partly to the recent rebound or rise of the yen. all these currency moves of this year and last year are bas

his visit to hong kong ends today. people are still missing after mudslides area key villages in sri lanka. days of torrential rain. many bodies have been found. more than 200 families are still unaccounted for. survivors say each typically has about 5000 people. visited the scene and said the government would take full control. the head of u.s. intelligence says hackers are snooping on the presidential candidates. officials say president obama and mitt romney were targeted by cyber attackers from china. they've declared war on donald trump urging supporters to take down his website. wildfires around the canadian oil patch continue. out of control. although forecasts for the next few days provides a glimmer of hope. the fire has a most double in size over the past week. crude operations. they've been forced to abandon efforts to restart the phone just days after the initial risk of past. 1.2 million barrels per day. manus: we are joined by the chief operating officer for adf security. we have the federal reserve defini

anna: juliette saly in hong kong.man says he is bullish on china despite the slowdown. speaking to bloomberg, he said china will face what he called some bumps as it transitions to domestic demands as its main driver. >> the chinese economy has had 10 trillion -- economy is a trend -- is a $10 trillion economy. it certainly is growing at a rate demonstrably faster than the rest of the world. japan has negative growth. germany at 1% and the largest is europe with about 2%. percentagewise, yes it is slowing. china accounts for newly 35% of global growth. >> how about the unvarnished view of china? -- with the interview saying the problem at the banks is far worse than anyone is reporting, upwards of 20 bridge -- 22% of outstanding credit and the chinese banking system will leaving trillions of dollars in bailout. >> that is pretty obvious from where they are currently. the chinese economy is a complex , in normal sleep complicated -- enormously complicated set of things going on to a domestic demand economy. moving from

nejra: juliette saly in hong kong. the fed has shifted towards raising interest rates as economic data continues to surpassed analyst forecasts. treasuries have lost their edge over stocks stagnating in the second quarter. the s&p 500 has returned over 2%. let us bring in our guest. the senior advisor at credit suisse. bob parker is here. coming into the u.k. market later today after we heard from janet yellen on friday, do you think what she said on friday begs the question of when and not if? during the third quarter and probably july, we will see the next bed rate increase. i would be surprised if we saw it in june. month'swe need another wea to confirm the uptrend have seen in the u.s. economy in april and may after a weak first quarter. a very mediocre performance. january and february data were poor. as we go into june and july i think the data will improve. particularly, we could see todline unemployment down 4.7% at the end of september confirming the just -- confirming justifying the fed raising rates by 25 ba

hong kong had an unexpected contraction in the economy the first quarter. partially due to lower retail sales involving numbers from china. the city's weakening property market so sales tumble to 25 year low in february. it also weighed on the figures. the government is maintaining its gdp forecast. the prime minister of japan is theosedly going to postpone technology conference due to the impact of the earthquake. 49 people died in komodo. nintendo is looking to enter the film business. in an interview with the newspaper ceo said nintendo is in talks with multiple production companies as a complete its first movie in the next two to three years. it does not indicate what the subject of the first film might be. is targeting the american market in addition to japan. with an even bigger headache. the automaker put out its annual profit forecast and is laying the blame at the cost of replacing those faulty airbags. they missed the forecast by 34%. to $3.2 billion. that was the second year that it has fallen due to the cost of replacing those airbags. closing s

it said government and business leaders in hong kong are involved in shell companies in tax havens. the newspaper announced later that day it had sacked the editor in chief in a cost-cutting measure. >> i've been to public concern that there may be other pressures. i want to change powell to become less critical, less liberal papers in the coming future. >> the protestors called for his rehiring. they said the firing was due to his editorial choices and the move puts freedom of the press under threat. >>> the head of the asian development banks says plans are being made with the asian infrastructure investment bank to finance a road project in pakistan. >> we signed, just signed the memorandum for understanding for corporation between the adv. >> bank president made the announcement at the opening of the adb annual meeting running through may 5th in frankfort germany. he said the banks will work together on financing and technical aspects. he added that the more experienced adb will take the lead in co-financing. the china-lead asian infrastructure open for business in january. japa