ramy: i am ramy inocencio.ybreak australia. let's look at business flash headlines. was fargo -- wells fargo will pay $75 million to settle a scandal. it resolves state investigations into wells fargo's practices from 2002 to 2017. this included staff opening focus accounts, charging improper mortgage fees and in charts -- insurance fees on customers. juliette: goldman sachs poised to be the best bank for takeover advice for the second year in a row. they will exceed 28% for dealmaking. morgan stanley, j.p. morgan and archelaus round out the top 5 -- citigroup and barclays round out the top five. this fell short of a record set in 27 -- in 2007 as they put takeover aspirations on hold. the: aquaman remains champion for the second week running. the d.c. comics based movie collected an estimated $51.6 million, beating mary poppins returns which retained second place in the listings, bringing in $27 million. juliette: that is a must it for daybreak australia. trading in new zealand is underway. looking like a posi

ramy: i am ramy inocencio.op stories, president trump touts big progress on trade after a phone call with xi jinping, but the stakes remain high ahead of new talks next week. hold your horses, the pboc signals monetary policy in 2019 might not be as easy as some were hoping. of the shutdown with little sign of progress. we are live to washington. juliette: we are just getting breaking numbers across the terminal. it is a miss for inflation for south korea. the month of december came in at a negative rate of 3.1%. it year on year has gone to a reading of 1.3%, down from 2% and below expectations of 1.7%. cpi core year on year the same as november, a revised figure now for november 1 .4%. seeing some downward pressure coming through on south korean inflation likely to keep the bank of korea on pause. they raised in november to 1.75%, the first gain in a year. seeing year on year 1.3% for .ecember, cpi, that is a miss let's get to first word news. kathleen: china has announced plans to rein in lending by the natio

ramy inocencio has the story. the question is who succeeds carlos ghosn. that is one question now with renault pushing nissan to have this extraordinary shareholder meeting. they will try to discuss this as well. we are counting on the hours. the succession is the big thing now. there is one man out there we have been talking to, the ceo of nissan. people are saying maybe he could be the guy to take over for carlos ghosn. he was also the person trying to push carlos ghosn out, so there is some self interest. confidant, his name has also been thrown here. some say the nissan indictments might actually put a little bit of a cloud over mr. psy, -- corporate governance has come in as one of the biggest factors. that is also one of the issues renault might put on the table in terms of what is pushing nissan -- what it is pushing nissan to do. another issue is renault's appointees on nissan's board. what isty ceo is saying happening is creating significant risk for a no. he said it is not just nissan but also renault. we need to keep an eye on this and you need

ramy inocencio has the story. it could be more than $3 billion from malaysia in the u.s.could add up to another $2 billion. one point $8y: billion on top of what was actually used. -- $1.8 billion on top of what was actually used. there is a lot of money floating around in terms of possibly trying to recoup this. malaysia is now firing this -- filing this litigations although saying -- salvo saying you need to bear the brunt of this. not just goldman itself. it is three goldman units. goldman sachs international, goldman sachs singapore, and goldman sachs asia, according to the malaysianthe malaysian edge. the attorney general came out saying that if we do not do anything, then basically, our financial institutions will take the hit. this is from the malaysian attorney general. show our viewers on that. basically, it would undermine the financial system and their market integrity. looking back over the past year to date, we can actually see how toll on has taken its goldman sachs share prices, down by a little more than 34%, on track for its worst year since 2011. goldman

ramy inocencio is here with what the ceo of the global impact investing network -- ramy: i would likee you to our midst -- and you to have been toview china and india. you have been talking about the growth in terms of the wealth into impact investing. tell me more. >> it is an exciting time to talk about investing in asia. for my recent trips, one thing i gleaned, though there is a long tradition of investing, it is taking off. wealthye increasingly families in asia who want to put their money to work to have a positive impact on the world. where ilies in india was a month ago. our network from that this is emerging in china mainland and in hong kong as well as a number of southeast asian countries including indonesia, malaysia and vietnam. it was an exciting, dynamic time. folks when they think about emerging markets, they say we know there is growing wealth, but what degree can you quantify this? >> one of the things we have the past fiveer years asia-pacific is the fastest growing region in the world. i can speak to the data and anecdotes from my recent trip we are seeinggly insti

ramy inocencio has the story.ership between renault and nissan has been put under scrutiny. what can we expect? ramy: will they even get to name a successor to carlos ghosn? a lot of folks are wondering now he is out of the picture at least with nissan. the other aspect is whether renault will be pushing to see what it can get from this extraordinary shareholder meeting. first to the succession aspect. people familiar say the name we have been talking about for the ceo,few weeks or so, the he has been the driving force but to write -- behind carlos ghosn's downfall. another confidant as well. analysts say the indictments we are talking about with nissan strain inmay put some being named chair of the company . the idea is there is an aspect of corporate evidence that if anything he had in relation to this allegation carlos ghosn and nissan understated or underreported $43 million his actual pay. what you are saying -- seeing on the screen is the extra question pushing ahead to what renault is asking of nissan. .et

ramy inocencio has been following the moves of china's biggest streaming music service.had less than ideal ipo pricing, but how did the debut go? : the pricing was in the range of 13 to 14 and we learned it would be in the lower range of $13. when it started trading on the stock exchange, it actually opened and popped to $14.10 right at the open. it did meander lower, but it closed smack on $14 a share. what does that mean? that is a price job of -- a price jump of about 7.7%. that still comes under the range of $13 to $15, so in all likelihood investors are saying, it is good we did something a little lower because it still came in lower than the $15 mark. let's look at the details of this. about $1.1t raised billion versus an expected $1.2 billion. that still values the company at just about $22.9 billion. we also sold about 82 million american depository receipts. how does this stack up against all the other chinese companies that have listed in the united states? it is coming in at number four over the past year after these three. this did fall short of early it is a

ramy inocencio has the details on this. a key question is, can they get to specifics of this agreement when they meet in vienna? ramy: we only have about a week left for that. that is also a very big order in just the next seven days or so. what we do know now is the term rebalancing is floating in between russian president vladimir putin as well as mbs of saudi arabia. and they did make that memorable handshake over at g20. talking about possibly doing something here, but in terms of opec delegates they already gave their blessing. now just has to be seen what will actually happen. but vladimir putin came out with a statement saying we are going to do this, but there has to be some details that we have to figure out. he said there is no final decision on volumes, but together with saudi arabia hand-in-hand he will do it. whatever the number, it will be based on a joint decision. we will monitor the market situation and react to it quickly. the fed is independent of russia as well as saudi arabia. hopping into the bloomberg

let's get the grim details from ramy inocencio standing by.hich of these is superlatives and it was a bloodbath. ramy: grim indeed and we can see that on the screen. they did close off a session lows, but the s&p 500 down 1.6%, the lowest since september of 2017. the dow jones industrial down 2%. it was as low as 200 points lower than this. the nasdaq taking it on the chin, 1.6%. losses, it breath of was everywhere. hop into the bloomberg terminal. i want to show you the imap function. heren see everything except for utilities barely making out, just over 25%. everything from financials -- over .25%. energy down 2.8%. we said -- we've seen wti crude take it on the chin. on the 46 handle, a lot of folks say it needs to be around $50 to have some support. it's causing investors worry. let's take a look at how we've been faring. over the course of the past three quarters and into the fourth quarter, a shutout to my colleague who put this chart together. through the first three quarters of the year, we were doing pretty well. 9%,dow was up 7%, s&p

ramy inocencio has more on this.his and qualcomm is sending out a warning. don rosenberg was saying we are going to call you out. you have not seated to the ruling from the chinese port saying you will have to ban the sales of iphones from the success through the 10. is little reason for apple to do that because they make a lot of money but let's listen to don rosenberg in his own words. somethingis clearly that was subsequently ruled on and the order is something that needs to be taken very seriously, unlike apple seems to be. company, iere my would have immediately indicated that i would be abiding by this court order and following to the letter. ramy: so basically he is saying do it now. appleme, we also had an lawyer on this week saying the chinese court ruling about that sales ban is quote, not a blow, and qualcomm is just using this as a distraction technique from its own three lawsuits in the u.s. that actually gets to its core business. as to the core business of china and the iphone success, that does regard

ramy inocencio has the details.h oil falling 30% since -- the opec member nations and russia are trying to get a floor, and they could be on the way to the spirit you could see the happiness there between mohammad bin salman of saudi arabia and vladimir putin. they were fist bumping each other. other delegates also gave their blessing. there is no formal declaration, but we are awaiting that to happen in vienna. the opec president, the uae energy minister, said technical teams are working on some level of cuts. mr. putin came out with a statement and said there is no final decision on volumes, but with saudi arabia, we will do it . he said it will be data dependent, they will monitor the market situation and react to it quickly. a lot of this has to do with crude. go into the bloomberg terminal. we can see for november, this is the worst fall ever since 2008 in the global financial crisis. crazy numbers. opec and russia are trying to keep prices elevated. bloomberg intelligence has already said if we fall below $50