john dawson has a look of what is going on market wise.to well, pardon the reverse, i suppose. nearly 1.8% and declines. , complete.ion the disconnection is that the reverse of what worthy games. gain what were the significantlys lower and falling by the minute. . drag lower. this is a two-day chart. a bit and down and down. it is down by almost 1%. thanks and today. -- the hang seng today. it is off. the technical level, that is crucial. 2500 and now it has gone down. the hang seng is really suffering because they have more property stocks. that's a have more financial stocks. example,hart for composite and shanghai, financials are the biggest decliners. of the biggest followers, hang seng and you can see from this chart, look at that activity. financials are dead. industrials are following. financials are down. services, financial real estate, insurance are down. a look at this. the brokers, 2.5% decline. the biggest of them all. exchange, the exchange itself is the biggest awaited decline. , a consensusu about the taxes that have not be

here is john dawson. votes oneed by 16 year after a merger with us airways.ost humid owners being notified, free of charge, and at least 53,000 cards would be affected. kata, firingy ta metal shards into the cabin, a big concern. and one of the best-selling cars is coming under scrutiny in the u.s., investigating a power failure in the 2013 accord. an increment launched after a string of complaints from owners. this monday morning at this hour. i am john dawson. >> well, if you are a movie fan, you may remember the holodeck next"star trek: the generation," with no need for bulky headsets. >> you getting inside the mental image. paradigm ofnge the how we deal with 3-d and interact with your body. my name is thomas. >> on the top floor of the university of engineer school of thegn lab, it is where virtual world is slowly merging with the real world. virtualhybrid environment 3-d. it creates a virtual environment by projecting it into an entire room. now, the technology is primarily being used by design firms, architects, and automakers. hollywood animators are

and here's john dawson.'s largest health insurance company will make its public debut tomorrow largest private health insurance company will make its public debut tomorrow. and get ready for making mouse with a chinese twist. group ishai and media trying to appeal to international audiences. trying to make disney movies for audiences across china. run partner with the state china animation group. that are spending cuts cause the tumbling of crude oil costs. there are 500 million more productive than the previous target. are the top headlines this monday morning, i am john dawson. here is something to spice up your monday. at a time when commodity prices are taking a tumble, vietnam's cap or are heating up. is world's oldest spice doing well. what is going on in vietnam? >> some people say they are going to buy a new bike, i am going to buy a new car, or i am going to buy some new land! tonsproduce about 120,000 of pepper, that is what india and thailand made combined. about pepper prices , a cousin they have

>> i and john dawson. we are "on the move." one day move. the yen is tumbling on the extra stimulus. so is the price of gold. not the goodyear blimp. the eye watching over singapore skies. good morning. china has just released its latest services gauge. let's get stephen engle invasion. what are they saying this time? >> it is coming in below the previous month for october. this is the services pmi which includes banking, telecommunications, and property, coming in at 53.8. the previous month was 54. -- me extrapolate this out previous month, 54.4. this is the weakest since january. 52.8 for the services pmi. obviously the property weakness is hurting the sentiment in this sector, despite the fact that authorities on a nationwide level have relaxed some of the property curbs. it is going to take some time to filter in. another sign of continued slowing pace of growth for the chinese economy. >> also manufacturing pmi out today in about 45 minutes. what are we expecting? this is the hsbc and the market surveys. >> i want to make one more note

we have john dawson for that all was that .5%.a each drop by 2%. australia is off. it is the same theme. the theme has to do with the u.s. it has to do with the chinese surprise rate cut. p -- they cut the base rate. it is a little bit more aggressive than before. they're trying to stimulate this and that is the foundation for this and we have seen that with the resource companies relying on china again for the growth. the gain. you have the iron ore stocks and stocks.re see chinae, you can decline with the the gains. the example of the stock and the resources gaining ground. cue metals is down. it is because of what china has done. it goes. that is a concern for the company and that is a pure iron ore play. it is rising the most in three years. there it is. the dramatic jump was the opening. most in the last three years. i will show you the overall it is resource stocks. rising and itre bonds.so much fx or commodity prices are taking the the world's biggest through the centuries talking about this trade. it was -- were the biggest world suppliers. it is more than w

john dawson is here to explain why. what has been the reaction from the othe

i am john dawson. reaction to his surprise, china's rate cuts.ld's biggest trading partner with australia. cutting a key cash rate for the first time in three years. in currency at the lowest five years. the kiwi has struggled for the same reason as china. below 7950.oming is closerket as japan to thanksgiving. across the ocean, the euro is close to a two-year low before data. mario draghi said that is when officials "will do whatever we must to raise inflation." germany's cover this might fall confidence might fall for a seven month in a row. cut.was the rate reaction. indicate that is quite important. is astrast, similarities a kiwi/dollar, neighboring australia. performance. and fellowsnd kiwi are the stories that are driving the fx market this morning. >> a look at other stories making headlines around the world. what is going on in afghanistan. nato.rity pact with the forces will remain in the country after the end of this year. renewed offensive by taliban militants. 12,000 troops in training of forces. inrtly after the vote parliament, a s

on the move with john dawson, coming up next. ♪ .. .. >> i and john dawson. we are "on the move."en is tumbling on the extra stimulus. so is the price of gold. not the goodyear blimp. the eye watching over singapore skies. good morning. china has just released its latest

john dawson with the latest on opec. >> next meeting, june 5. >> unless there is an emergency meeting. >> still to come, singapore's crude awakening. how oil is hurting some of the nation's wealthiest investors. china's latest milestone. my investors are betting on xi jinping when "asia edge" continues. ♪ day ifas been a brutal you are long energy. oil stocks getting hammered. we bring in norman chan. just a quick word on oil. production remaining the same. what do we know? certainly there was a cut being priced in, wasn't there? market is still disappointed about the lack of cuts by opec. and other oil producing countries. eventually, i think they have to reduce the output. otherwise prices will not rebound. they need higher prices as well. eventually we will get there. >> the thing is, why? what is the motivation to defend the higher oil price? let the oil price freefall to make you feel the pain. other opec members will start to feel it now. barrel, --r to $60 a >> > what do you think the chans are that when we see such a move as in the last four months, that we will overshoot? do

. ♪ >> i'm john dawson. these are the top stories. weakness all around.out of china, manufacturing from hsbc shows slow growth in october. westpac reporting results for the year picking up from housing. falling bad debt. yearac reporting a full cash profit of more than 7.6 2 billion australian dollars. bangkok airways falling on its trading price in the thai capital. now trading below their sale price. bangkok airways raised almost $500 million and plans to use the cash to buy more planes. 50 years after their debut, the jacksons play hong kong for the first time. the brothers say they are looking for opportunities in china and jermaine has launched a music challenge search there. >> jermaine, jackie, marlon and tito jackson weren't much older than these tots when they started performing 50 years ago. >> i started at seven years old. to see the kids brings back memories. they are so happy here. that is so great. >> very outgoing. they are not tucked in the shadows. i am sure they will do well in life. >> michael obviously would have loved to be here with

john dawson spoke with him in hong kong about the bank strategy and what it means.rms of pay, we in paying performance and we believe in paying competitively. as we able to do that reposition the business. as we make our investment bank more focused, that means we will have less very highly paid people within the organization. that is in line with the strategy. --19,000 job cuts by 2016 how far are you through this process? are you looking to hire? >> absolutely. this strategy is about focusing on the areas where we have growth. we have to reshape and refocus to do that. it is part of this evolutionary process we were discussing. now, we are largely through 14,000 of those 19,000 job cuts. us to invest back in our franchises. and in africa which is an exciting growth opportunity for us. >> you mentioned before that arguably the most destructive .rea, technology what could that look like in five years time? >> we focus on things like regulation. technology is much more profound in my view. the reason for that is the cost of technology is falling exponentially. the ca

john dawson is here with more on this. >> it is a big red flag.onperforming loans, they are rising. that is the concern. 16% lending, up from 1.08% lending. very small, but nonetheless it is growing. that is the concern. , 72.5 billion. that means the banks are very averse to risk. they are avoiding the risk. [indiscernible] the loans overall in the third quarter jumping the most since 2005. that means the overall picture -- growth is slowing at the weakest expansion, if you like, since 1990. that is clearly a matter of concern. [indiscernible] it is leading to what is called sluggish expansion. banks are very cautious. don't blame them. the property architect -- market is ailing. textiles number three. small companies are fighting for survival. sle's are very much alive, but the medium-size enterprises rematch against the wind -- are very much against the wind. >> will it trigger rate cuts? >> i think it will. for example, the growth from last year overall was 7.7%. columnist is expecting the chinese government to reduce that to 7.4%. the third q

." >> i am john dawson with the markets. a bit of a mixed bag. china is so volatile. .5%, back upwn again. shanghai-hong kong connect also. meanwhile, the hong kong exchanges in their biggest decline. that is partly down to the connect. as this launches, korea are the biggest callers. the individual chart, the nikkei, gradually declining. down and down and down, some really big declines. down because the yen has done this. there is the yen. we have the impact there. the impact was minus what some people said about gdp. with aication is that recession confirmed, he has no choice but to delay the secondary increase in sales tax. japan's bring in economy editor. let's talk about this. they got it wrong. badly wrong. ?hat was behind that what were the biggest factors in this unexpectedly bad contraction number. said, the forecast and the government, their forecasts were for the economy to return to growth in the third quarter and that just did not happen. the biggest factor here is the same thing that happened in the second quarter. the sales tax inc

dawson hasg's john been speaking exclusively to morgan stanley ceo james gorman in singapore.s what he had to say about the fx reagan fines. -- rigging fines. >> obviously, they were apparently giving fines for bad behavior and that's the kind of thing we're going to root out. this industry needs to operate with trust and confidence from the public. any manipulation of any of the markets flies directly in the face of that. we need to get that behind us. this kind of behavior in the phase going through leading up to the crisis and immediately after it is just not good enough. i think all of the bank ceos would say the same things. i cannot comment. it would not be fair. they don't involve us. anyrly rooting out inclusive behavior is critical. >> are you and the new era of banking ceo more concerned? >> are you calling me a strange conservative? listen. we run these companies as businesses. capan stanley has a market of over $60 billion and it's a very large, complex global business and wall street a good number of years or decades to evolve from relatively small enterprises.ate

kong exchange, getting a feel of what we can expect when things get underway, let's go over to john dawsonin a few minutes. is a tell you there two-day chart, and you can see friday, this spike up, this is actually amid speculation that the markets were actually reversing. the jump up, that was really due to the hang seng. entire asias the region. again, thisn to, rehearsal. they lifted the markets. nevertheless, that was down. ,he key areas, the exchanges all of the financial stocks isin, and what will happen $2.2 billion u.s., and the foreign transactions will be open again, and they will be theing the markets to foreign investors, the american and european investors, and this is enormous exposure. we will have reaction to this and also getting cpi and pbi figures out of china, and, of course, hong kong reacting in kind. i will show you the map today. this is away from the chinese open. but we do have is taiwan is opening higher. and then the singapore straits and malaysia. they open the hong kong shanghai and others, you may see another. greenlighted. that is a big, big step of confiden

david dawson and john richardson join me, pleased to have both of them here. because i've known you for so long and because of all the biographies, all of the editions, the picasso biographies, tell me where you think the art world puts lucian freud. >> a difficult question to answer. lucian was one of a kind. he wasn't part of a school. he was unique. you can't put him with the modernist or impressionists or any other group that there might have been. he was one of a kind and he was just a very great artist who, to my mind, was a great portraitist of his day. he also had this extraordinary feeling, maybe inherited from his grandfather, but perceiving people's personalities. >> charlie: his grandfather. his grandfather, yes. and what -- lucian we veered his grandfather but not for his psychoanalysis but for his earlier work on eels and mutes and sea things, and he was tremendously proud of his grandfather for having discovered the secret of hu howo tell a male eel from a female eel. (laughter) >> charlie: when did you meet him? >> when i was 18 and he was 17 a