she said the founder of kingfisher airlines which is now grounded, and get the $1 billion from him hehe indian banking system and only then she will pay her fine. so what this exemplefis to me at least is that there is simmering angst in the society now about this $167 billion problem, as you said and taxpayers are questioning the inherent injustice of it all where they have to foot the bill of recapitalizing the banks and the big borrowers have made away with a lot of money and don't seem to be going to return any of it. heidi: is this going to gain making the authorities do something? andy: the authorities are sensing people's mood and are orking on doing something. they are trying to come to a settlement that society will view as a just one. eidi: what kind of deal -- andy: the founder of kingfisher airlines has made a settlement offer of about $600 million. the unpaid debt is about $1 billion. now banks will most likely reject this offer because they say that out of the $600 million not all of the money is something which is actually being committed by him as upfront cash. some is

the latest attempt to clawback money lent to kingfisher airlines.t, the popular payment system that could deliver china's biggest valuation in years. we have hong kong and shanghai open. this is "trending business." ♪ rishaad: stocks following wall street higher, crude rebounding to $40 a barrel in new york. that is good for the key we--- the kiwi dollar and the aussie dollar. the yuan has strengthened after korea's central bank adopted a wait and see attitude. economic data has been disappointing this year, the latest figures showed signs of improvement. expecting revised gdp figures little bit later on. of theital ad business former yellow pages.com is planning an offer for yahoo!. tax-free -- it is the start of the tuesday morning session. we have reserve bank of australia dropping across the bloomberg news wire. juliette: a much better session coming through on the markets today. look at these games on the open here in hong kong and shanghai. a very different picture to what we saw yesterday. flat.mobile is pretty good gains coming through in sh

involvement on as much as $1.4 billion in loans to his kingfisher airlines.zil has taken another step toward impeaching the president, a lifting a committee that will decide whether or not to approve her trial. senators approve the panel which will meet later today. it has members from across the political spectrum, and up to 10 days to hear the president's defense and make the recommendation to the full senate. opponents need only a simple majority to force her to step down temporarily. journalists and 150 bureaus around the world, you're watching bloomberg news. father worstsinos week since january and the slump shows no sign of a reversal. "trending business" continues. ♪ shery: welcome back. breaking news for you. malaysia's sovereign fund says it is in default of payment. this comes amid a dispute between abu dhabi. on 5.5% in default notes amid a dispute with all fundobby -- abu dhabi's and at a time when it is under investigation for $4 billion of questionable transactions. it will meet all other existing financial obligations, and one says the default

the attorney general said the founder of kingfisher airlines left the country without paying his creditors.4aid to oh on billion dollars for his collapse carrier. he said he moved to london to spend time with his children and denies he was a willful defaulter. prince, the singer died without a will. it would asks said i a court to appoint an in ministry to her. the court papers don't estimate how much prince was worth, but his legacy is expected to generate a fortune. in the three days after his death, fans bought more than 2 million of his recordings. powered by over 2400 journalists and 150 bureaus around the world, this is bloomberg news. coming up, mitsubishi's existence is under question as the emissions fraud crisis widens, the latest live from tokyo when "trending business" returns. ♪ shery: welcome back. mitsubishi motors has admitted falsifying test as far back as 1991 let's get more. another crisis for the company. can they survive it? it seems that investors are betting it won't. shares down to where the market cap is less than the cash on hand. sign that they are betting that e

kingfisher airline ceo says he is not a willful defaulter.he collapse of the airline was a genuine commercial failure, and offered to under 40 billion dollars -- $240 million to show his intent that he will pay. considering selling stakes and some of its units to fund anansion plans, looking at initial public offering of some of its overseas businesses. with me is bloomberg news media editor. what are we looking at? the business to look out for is china. is theirse is this second largest after korea. it is also the fastest growing. just to give you an example, the business grew more than double last year versus 5.5% growth in korea. rishaad: what with the company need to do fundraising for? anthey have embarked on ambitious growth plan. the company is targeting to quadruple its number of screenings by 2020. just to give you an idea of how big that is, no one in the industry right now has 10,000 screens. the first company that will do afterwanda group in china its purchase of carmichael's in the u.s. rishaad: thank you very much indeed. ok, co