let's get the bloomberg first word news update with the juliette saly in singapore. ette: the bank of japan has lifted monetary policy -- left monetary policy unchanged and downgraded its assessment of inflation. it maintained the settings on its yield curve control program and asset purchases. the central bank now sees the consumer price index in a range of 0.5%-1%. fallen behind if the global peers in what has become a very busy week percent of banks. china home prices have risen. no home prices in the 70 cities gained 0.8% from one month earlier. that compared with a 0.57% increase in april. the imf has warned that u.s. tax cuts and spending hikes are increasing reason -- risk to the global economy. thedirector conceded that trump administration has not always agreed with its view of the american economy. >> it was clear that he regards our medium-term outlook as to pessimistic. -- too pessimistic. frankly, i hope he is right, and we are wrong. it would be good news for the u.s. and global economy as well. juliette: argentina's a central bank is getting a new chief

juliette saly has your business flash. manus, irish banks are set to be forced to hold more capital to cope for the future economic downturn, according to a person familiar with the pattern. the central bank leaning toward buffer from 0% in the coming months, with a possible announcement in the days.0 the buffer is meant to guard against banks tendencies to boost lending in boone times and/it during a bust -- boom times, and reduce spending during a bust. preserves the business model for american express, and deals a blow to retailers looking to reduce the $50 billion in fees that they pay to that occur companies each year. american express shares jumped and in new york while visa and mastercard fell. a pullback in investments to the u.k. is being warned as the final brexit deal does not ensure the free flow of goods eu. the the german automaker says about ongoing uncertainty over negotiations is not helpful, and customs arrangements remain a concern. bmw's comments echoed those of airbus as the brexit deadline those early

here is juliette saly. ent trump has signaled he may take a less confrontational path to curbing chinese investment in sensitive american technologies. his comments aligned with steven mnuchin's approach, relying on a u.s. committee that scrutinizes foreign attributions for national security risks. new measuresparing to prevent a potential flood of steel imports from global producers seeking to avoid u.s. tariffs. that is according to sources whose book to bloomberg. the measures are said to be a combination of quotas and sheriffs and of certain countries. is already considering similar measures toward off steel dumping which could be imposed next month. investigation will take until the end of the year before we can get the full picture. are seriously contemplating having provisional measures in place, mid july. exactly what form that will take is under discussion. saudi arabia plans to pop a record amot of crude next month. wants toe oil company boost production to 10.8 million barrels a day. barrel as the

let's get up business flash from juliette saly. thank you. the u.k.overnment is selling a 7.7% stake in royal bank of stock -- royal bank of scotland. the stake was worth about 2.6 billion pounds or 3.5 billion u.s. dollars. during the financial crisis, billions of pounds the bank. starbucks dipped on news that chairman howard schultz is stepping down. company from 11 outlets to more than 28 77 countries this comes as u.s. sales growth slows and in the wake of criticism -- and in the wake of criticism of the arrest of two black men and a good of you starbucks. there is speculation he may run for president. twitter and netflix are getting a leg up in the u.s. indexes. twitter will replace monsanto while netflix will replace another company. this comes as the takeover of monsanto is due to close on thursday. stocks mayout tech get louder but goldman sachs is still bullish. most of thet industry's current success can basis bank -- explained by strong fundamentals, revenues, and earnings rather than future speculation. are notd valuations very stretched a

juliette saly there and singapore.d chinese telecoms took a divekers zte after it agreed to pay $1 billion in penalties and overhaul its management. this as part of a settlement that allows it to resume business after two months hiatus. joining is ti corbin in taipei. apart from the billion dollar fine, what are the implications for zte? a billion dollars is them out there he had to pay. that is about equal to a full year of operating income in zte zte -- zte. they have to fire their whole board of directors, all of them have to go, according to the deal that they signed. the need to get rid of all of their senior management. anyone in a senior vposition or higher. any of the staff are executives who were involved in the deals that sold equipment to iran or north korea, that is what got them in to trouble. we are talking maybe 50 different people could be caught up in that in there for fired from the company. that is quite a lot. that is a lot of management that is decision-making gone from the company in 1000. that wo

thank you much, juliette saly, from singapore.orld cup kicks off with the first game between saudi arabia and russia. do you call it football or soccer? let's talk about how the country's stack of economically. give us your unique oil related take on the world cup. against gdp and unemployment, russia clearly tsading the way but popus more than ur times that of saudi arabia. oil form a is stacking up pretty nicely. if you look at how they're doing long-term, russia leading but we know the shouting -- saudi's have the share of capacity. they want to lead by example when the opec cut was announced. you can see the last two years having tosaudi's spare capacity. matt: the oil markets will be paying close attention to the soccer game as they watch football together. teams had the two worst in the world cup rankings for this year's event, but they are the world's largest exporters. what the markets care about is what president clinton will talk will -- president putin talk about. is just eight days away from the opec meeting. they are

here's juliette saly. liette: donald trump's meeting week'sabe ahead of next historic north korea summit. the white house wants kim jong-un to commit to a timetable to surrender his country's nuclear arsenal. north korea has publicly bristled at u.s. officials insistence that it must agree to disarm before receiving anything in return. we will bring you the trump-abe news conference live from 7:00 p.m. u.k. time. donald trump's top economic advisor has attempted to ease concerns. larry kudlow said trump will meet one-on-one with justin trudeau and emmanuel macron during the two day meeting. >> we are talking anything through and there may be disagreements. i regard this as much like a family quarrel. i am always the optimist. i believe it can be worked out. france has joined germany to warn donald trump that it will not sign a joint statement to the g7 this week. a french official said emmanuel macron has signaled progress on tariffs around nuclear agreement and paris climate accords must he made before he

let us go to juliette saly in singapore. >> u.s.resident donald trump will leave the g-7 summit in quebec early and head straight here to singapore to meet with jong.korean leader kim leaders are meeting today and tomorrow and what is shaping up to be the most divisive gathering in th years. america's closest allies frustrated with president trump's decision to instill terror's last week, as well as the decision to withdraw from the i run a nuclear accords and the paris climate agreement. administration's powerful fiscal stimulus could fade causing a rally community moment, according to a former federal reserve chairman,. then bernanke. he says the $1.5 trillion in personal and corporate taxes -- tax cuts, make the job of the fed harder, because it is coming at a time when very low unemployment. >> you're getting a stimulus at the wrong moment that the economies are ready for love full employment. you are getting a stimulus which under current law, we will see --ther it is rendered are whether it is renewed or not. but by 2020, the

here's juliette saly in singapore. european leaders will gather in brussels today to tackle a growing number of challenges facing the government. increasing pressure in angela merkel's german coalition, the issue of migration will be high on the agenda. the two-day summit is also likely to discuss trans-atlantic trade relations and the slow progress of brexit negotiations. the white house is moving ahead with plans to limit chinese investments, but has decided rarely usedking a law resulting in economic emergency. embraced arump scrutiny of intellectual property rights. larry kudlow later said china's responses to u.s. trade demands have so far not been as factory, and that the administration is not retreating on china. foreign -- a former u.s. court of appeals judge is emerging as a top contender for the u.s. supreme court, according to two sources familiar. justice anthony kennedy announced his retirement yesterday, letting president trump nominate his successor, potentially creating the most conservative court in ge

juliette saly in singapore. jewels. liette: a cryptocurrency exchange hack and south korea jolted holders in digital assets that fueled a $46 billion rout and extended this year's bitcoin slump. have brought an abrupt end to and reignitedalm concerns about the security of lightly regulated crypto exchanges. rolls-royce is expected to cut around 4000 jobs. giant'sdetails how the restructuring will work. 10% of the staff could go. rolls-royce is struggling under an estimated one billion pound bill to manage the problems. airlines are being forced to ground planes over concerns the engines could cut out in flight. shares in the world's biggest maker of electric vehicle batteries jumped on their trading debut as investors bet on rising demands for new energy cuts worldwide. rose by 44% in shenzhen, atuing the chinese company $12.2 billion. the manufacturer sold a 10% stake on may 30. that is your bloomberg business flash. anna. pres. trump: the year of strategic patience with the north korean regime has failed. they will be

let's get to juliette saly with your business flash. te: deutsche bank's credit rating has been cut by s&p global rating stood triple b plus from a minus. the downgrade is a blow to the new ceo as he tries to reinvigorate europe's largest investment bank. it comes the day after reports on a listators put it of problem banks. shares closed at a record low. goldman sachs pushed into consumer finance has bigger aims than investors may have imagined. president david solomon said in a presentation that personal expansion possible opportunities for its market brand in mortgages to credit cards, auto loans, and insurance. startede consumer bank in 2016, it attracted one and a half million customers, made over $3 billion in loans and gather $22 billion of digital -- deposits. that is your bloomberg business flash. matt: juliette, thank you. america's closest allies will impose tit-for-tat penalties after the u.s. confirms tariffs against them. wilbur ross announced duties of steel and aluminum from the european union, canada, and mexico, saying

let's get bloomberg first word news from juliette saly. juliette: italy's new prime minister has negotiated a package of measures at the eu summit to stem the flow of migrants into europe and spread the burden of handling arrivals. during talks in brussels that continued be on 4:30 this morning, member states agreed to increase border security, set up holding centers, and speed up the processing of applicants. leaders also agreed a key italian demand to overhaul rules for disturbing -- distributing why grants when a gateway country is overwhelmed. theresa may has accused the european union of putting its citizens at risk by blocking a deal on security. during a working dinner, may told fellow leaders britain wants to play a major role in european security after it leaves the bloc. the federal reserve stress test for wall street's top banks to rein in ambitious plans for pumping out cash, but with payouts at record levels. the four largest u.s. lenders said they will distribute more than $110 billion through dividends and stock buybacks. deu

here is juliette saly. juliette: u.s. campaign to economically isolate north korea will continue even as reparations advance for president donald trump's summit. meeting is not a clock a.m. in singapore but the venue has not been revealed. the press secretary said there has been no change in what trump has described as a maximum pressure campaign on the north korean regime. u.s. senate majority whip john cornyn said congress will not have time to approve a new deal. paul ryan said legislators would have made notice by a deal -- of a deal by may 17. ryan said there might be a couple of weeks' wiggle room placing the deadline around early june. to cooperate further with inspectors who nducted a record number of snap visits last year. that is according to the international atomic energy agency's director general. country'se time, the supreme leader has told officials to start work on boosting the country's nuclear program while remaining within the framework of the 2015 international agreement. the phase opposition labor par

juliette saly reporting from singapore. president trump said in his news conference that at the core of his discussions with kim jong-un was the commitment to denuclearization of the peninsula. welcome now sam nunn. he joins us from washington. welcome senator nunn. great to have you with us. we want to talk about what it means to denuclearize and that process, but first or overall reaction to this summit. >> i think winston churchill observingif he were that this was the beginning of the beginning. this is not anywhere near the completed agreement. be attackedy can from the right and the left. if you look at where we were six months ago heading towards possible war with hundreds of thousands if not more killed and you look where we are now, i think there has been progress. i think there is hope here. could it breakdown? yes. do we have gaps to fill? yes, we do. president trump learned a great deal of implementing this type of agreement. there has been a lot of educational process in the last three months. have we made some

bloomberg business flash with juliette saly. juliette: thank you. some existing investors are said to of raised $4.7 billion after the company president the low end. the beijing-based smartphone maker prices shares at 17 hong kong dollars each. they are the very to make them tech listing in hong kong after they changed the rules to allow bounders to keep outside voting rights. has failed the first public stress test of its combined test. the federal reserve faulted the company's internal result -- infrastructure. only onebank was the of 18 domestic and foreign banks receive an objection. they responded that its u.s. business had made significant investments to improve its capital planning infrastructure. a strode has awarded a contract for a ninth suffering forgets to the u.k. system. constructed will be in south australia and start service before 2030. shares climbed in london while those of the unsuccessful italian better slumped. president trump has taken part in the groundbreaking ceremony for foxconn's new wisconsin factory. trump said the proj

let's get a bloomberg first word news update with juliette saly. donald trump will leave the g7 summit early and head straight to singapore to meet with north korean leader kim jong-un. leaders are meeting today and tomorrow and what is shaping up to be the most divisive gathering of leaders from the major nations and years -- in years. european leaders are frustrated by steel and aluminum to rifts as well as president trump's decision to withdraw from the arabian a nuclear accord -- ir anian nuclear accord. former federal reserve chairman that tax cutsays and the increase in federal spending make the fed the job more difficult all around because it is coming at a time of very low unemployment. bernanke: what you are getting is a stimulus at the wrong moment. you are getting hit by a big stimulus which under current law is going to hit the economy in a big way this year and next year. in a 2020, the wily coyote is going to go off the cliff, look down, and it will be essentially withdrawn at that point. juliette: deutsche bank's chairman is said to h

here is juliette saly in singapore. rump is set to meet japan's shinzo abe ahead of next week's historic north korean summit. the white house wants kim jong-un to put commit to a timetable to surrender his country's nuclear arsenal. north korea has bristled at u.s. officials' insistence it must agree before reserving -- receiving anything in return. we will bring you the news conference live from 7:00 a.m. u.k. time. donald trump's top economic advisor has attempted to ease concerns over trade disputes. he said trump will meet one-on-one with justin trudeau and french president emmanuel macron during the two-day meeting. >> we are talking everything through. it may -- that may be disagreements, i regard this as much like a family quarrel. i am always the optimist. i believe it can be worked out. juliette: italy's new prime minister is seeking to reassure markets with a pledge to gradually reduce the countries massive debt burden. giuseppe content had unnerved investments -- investors with promises including a citizen's i

you just heard juliette saly say it does not really commit to verifiable and irreversible.ohey know what they will be verifying? have they agreed on what denuclearization means? michael: they definitely have not agreed on that. that will be the last thing to go, in a way. that will be the final disagreement because as we are all aware, kim will not give up his nukes easily and may not at certainly not the warheads anytime soon. i think we will have to dance around that kind of in term. the short-term is more a tractable, to get a database from north korea about where its nuclear sites are, to agree on what kind of inspectors will visit those sites the way the international atomic energy andcy used to before 2003, then to actually verify that the , thatent, the centrifuges they have been shut down so they are not making more bomb grade material. over time, dismantle those production capabilities as well as capability for longer-range missiles. along the way, you have to suspend certain sanctions, provide certain food relief, but do not do anything irreversible because you do

here's juliette saly. juliette: mark, thank you. the trump administration stepped up its war of words against canada. that came as the foreign minister condemned justin trudeau. white house trade advisor peter navarro's personal attack on premise or trudeau came from a personal string of tweets from president trump. >> special place in hell for any for later that engages in bad faith diplomacy with donald j. trump and then tries to step him in the back on the way out the door. and that's what bad faith justin trudeau did with that stunt press conference. juliette: china reaffirmed its claim to be a free-trade leader, criticizing what she's in called selfish, shortsighted policies. his message was in stark contrast to the disarray of the g7 summit in canada. she said the world must maintain the rules of the wto, support multilateral trade, and build an open, global economy. in singapore, donald trump and kim jong-un are preparing for tomorrow's summit. the two leaders flew in amid heavy security yesterday and are set to meet at the c

let's get the first word news with juliette saly in singapore. juliette: italy's populist five-star movement and league party are set for power with a goal for fiscal expansion that poses a challenge to european rules. just that they -- conte is due to be sworn in as prime minister along with his cabinet today. the cabinet was put together after almost three months of negotiations, which saw five-star and the anti-immigrant league threaten early elections. spain's mariano rajoy is heading for defeating a vote of no-confidence. the parliament will vote today and opposition parties have joined forces against him. the socialists have the backing of two antiestablishment groups and one catalan party. group is alson expected to vote against him. the prime minister says he won't resign. house u.s., the white says it expects the north korean delegation to visit washington today to deliver a letter from kim jong-un. donald trump will meet a north korean delegation led by the former spy chief. after several weeks of to mull to us diplomacy, any decision on

guy: juliette saly. let's bring you some live pictures from tokyo. harry to kuroda is speaking after the banks rate decision. the boj left policy unchanged. significant he downgrading its assessment of inflation falling behind his global peers. we have seen what is happened with the fed and the ecb. ,oining us now from singapore west goodman. what impact is that going to have? hi. i think it is more of the same from the boj. they have cut their inflation outlook a whole bunch of times so one more is not going to change a lot. they are going to keep the 10 year yield at zero. this highlights the contrast with the fed. to ecb said they are going stop there bond purchases this year. for a country for such a bank raising its rate as in the u.s., the currency should rise. for a country like japan where they have monetary easing and easing insight for as far as we can see, the currency is falling. this announcement today will put more downward pressure on the end. trump is nownt said to approve tariffs on $50 billion of chinese goods. by my count, this is

let's talk to juliette saly and find out what is going on around the world. china's central bank has heloff fodiately raising borrowing costs following the fed hike. --nomic data came in world's worse than expected. losing steam in may with an unexpected slowdown in factory outlook -- output and factory the ba of japan has cut bond purchases taking advantage of the recent stability in local yields. the central bank lowered by in the three to five-year segment to ¥100 billion. the n's reaction was needed while benchmark 10 year bonds held onto an earlier advance. u.s. president donald trump says he will confront china strongly over trade in the coming weeks as he prepo followhrough on tariffs threats. he told fox news that china could be "a little bit upset" tiship wit xi. his minister giuseppe conti may cancel a meeting with emmanuel macron as a row over a migrant rescue ship escalates. pulled finance of a meeting with his french part -- counterpart after paris recommended room over its refusal to grant access to the ship aquarius which is carrying around 600

you are watching the european op let's cap the bloomberg business flash right now with juliette saly.te: a judge criticized what she called the previous management's desire of uber to grow the business come what may. the 15 month reprieve is less the companye period originally sought. iette: a judge criticized what she called the previous deutsche bank faces years more of restructuring. the firm's annual internal survey showed that 57% of employees are committed -- unchanged from last year which followed years of decline. three straight annual losses and a series of management changes. the world's biggest seller of liquefied natural gas is inventing $20 billion -- investing 20 billion dollars in american oil and gas at a time when rival fields are expanding. investments will be made over five years. partnerships have been talked about in the country. >> the u.s. and the partnership it is very solid. this partnership is going to survive to the mid-20 30's with the contracts we have in place today. juliette: that is your bloomberg business flash. guy: let's continue the conversation aro

let us go to juliette saly, with the first word news. >> manus, thank you. the u.s.ld like north korea to commit to a timetable on denuclearization before he meets with the president next week. u.s. officials say the president has been advised not to offer him any concessions. said thatals also trump is determined to walk out of the meeting if it does not go well. alternatively, he is working with the idea of offering kim jong-un a visit to the mar-a-lago resort if they hit it off. lawmakers anticipate holding a pivol uson at their meeting next week, which could conclude on a public announcement on wedding intended to seize -- when they intend to seize asset purchases. mario draghi's governing council is likely to use the gathering as an opportunity to debate winding down bond buying. that is currently intended to run until september. and ecb spokesman declined to comment. italy's new prime minister has alleged in his maiden's reach, a new wind of change based on a program of fiscal expansion. that means breaching european union budget rules he also used his. peach t

david: that is juliette saly from singapore. heard that it is official that kkr will buy the health care -- envision health care. fripp what it means for private equity and the kind of money that will get put to work. getting envision. it is about $10 billion. alix: a huge deal. will it to be the precursor of bigger deals going forward? buying -- ittone was mortars. it was a huge a deal. it was the start of the megadeals. to bloomberg first take. we are joined by a former trader. and michael mckee. i love that title. michael does not have as interesting a title. to stay on this is summit. back to singapore. the expectations for both sides? it is notor realists, going toduce a lot of bug good pictures. if they continue talking and bring that the talks to level in which something can be done, it is good news. if they walk out, it will be bad news for the world and the markets. it is very unpredictable. the president has admitted, they will not reach a deal in a day to denuclearize the korean peninsula. a very complicated issue and

let's get the latest with juliette saly. end of what has been a very wild trading week. a lot has focused on the ecb. the fairly dovish commentary from mario draghi. you're seeing australia and japan leaving the game in the region. we had focus on the oil market, the saudis say they are confident oil will increase. you see a lot of commodity producers getting a boost in the asx 200 and the nikkei with the fluctuation in the yen. the south korean market is flat. yesterday we saw heavy selling in the kospi as it play catch-up to wednesday when it had been closed. taking a look at the commodities space, you see a lot of shanghai futures lower, illumina down .9% . if we look at the movers, we are expecting a lot of tech players to rally today following the record high from nasdaq. you can see a quite a few of the tech players that are open so far doing quite well. tdk in japan is higher. barack the manufacturing is one of the front runners. its biggest one-day gain in a year, and we are seeing a comeback from more of the tech st