kishida already said he wants to putj kishida already said he wants to put more _ kishida already saidissile - more money into coastal security, more money into missile defence. thats— more money into missile defence. that's also— more money into missile defence. that's also because _ more money into missile defence. that's also because both - more money into missile defence. that's also because both times . more money into missile defence. that's also because both times hej that's also because both times he was on _ that's also because both times he was on the — that's also because both times he was on the phone, _ that's also because both times he was on the phone, he _ that's also because both times he was on the phone, he was- that's also because both times he| was on the phone, he was publicly thinking _ was on the phone, he was publicly thinking about _ was on the phone, he was publicly thinking about north _ was on the phone, he was publicly thinking about north korea, - was on the phone, he was publicly thinking about north korea, they. was on the phone, he was publicly. thinki

it predecessor - - kishida? yes, it is- it is _ predecessor - - kishida? yes, it is. kishida? yes, it is. it is more of the same. l it is. it is more of the same. he doesn't want any changes. he will continue to implement policies. will continue to implement olicies. �* , will continue to implement olicies. �*, ., , ., policies. there's lots of fereign _ policies. there's lots of foreign policy _ policies. there's lots of foreign policy issues i policies. there's lots of. foreign policy issues ahead policies. there's lots of - foreign policy issues ahead for mr max one, for example, at versions of aircraft — asked mr kishida. there's north korea with the latest missile test. how will mr kishida manage these rather difficult foreign policy challenges? in these rather difficult foreign policy challenges? in tokyo, he is a widely _ policy challenges? in tokyo, he is a widely recognised - policy challenges? in tokyo, he is a widely recognised as - policy challenges? in tokyo, he is a widely recognised as a - is a widely recognised as a nice guy. a good person. and the dea

in the runoff many of her supporters are believed to given their votes to kishida.nd endo toshiaki was once the minister in charge of the tokyo olympic and paralympic games. kishida is expected to be named prime minister in the diet on monday as the ldp-led coalition controls both chambers. his lineup will likely be announced at the same time. >>> the tokyo area is experiencing heavy rain and strong winds as a large typhoon sweeps up japan's pacific coast. japan's meteorological agency says mindulle is moving northeast at 35 kilometers per hour. parts of the greater tokyo area, chiba and ibaraki prefectures are in the storm zone. the highest emergency alert is in place for the coast. a river has overflowed its banks. some residential areas have been hit by power outages. forecasters are warning of strong winds in the coastal areas in the country's northeast and ask people to stay on alert about possible mudslides, rough sea conditions and high waves. an evacuation order has been issued for parts of chiba. elsewhere, people have been urged to keep up to date on devel

kishida has been foreign minister for nearly five years.ves him about -- a good background to conduct his foreign policies. not speaking about the importance of our relation with china, how to deal with both the united states and china in a positive manner. kathleen: what about trade? in many ways the pandemic is raging, this seems to be an issue on a back burner, has got to deal with china and taiwan becoming members of the tpp. what do you think is main goal will be? >> the tpp to be more precise is comprehensive, where japan played a major role in securing the result of the tpp negotiations, and at that time he was foreign minister, so he has a very good grasp or grip on the content of the tpp, and with that he is going to play the kind of intermediary role between united states and china using cptpp as an emerging platform for those two superpowers and economic affairs. kathleen: thank you so much, yorizumi watanabe. we have more discussion on the outcome of the japanese election later with a former vice minister. haidi: australia's int

kishida's first test will be other elections. isa. >> thank you very much. >>> now newport beach in california is telling people to avoid contact with ocean water. thousands of barrels of crude have poured into the pacific after a league in a pipeline discovered on saturday and residents say it's already having an impact. >> you can see the slick collecting. >> the smell is pretty strong. we can smell it in the parking lot. >> the beach is contaminated with oil tar. nobody's out here cleaning it up. oil company has turned this place into a big industrial armpit and it's not fair to our environment. >>> divers have been inspecting a stretch pipeline, 17 miles. 27 kilometers hoping to find the exact source of the spill. officials say the leak appears to be stopped but the threat isn't over. here's what the mayor of the beach said on sunday. >> in a year that has been filled with incredibly challenging issues, this oil spill constitutes one of the most devastating situations that our community has dealt with in decades. rest assured

i think fumio kishida will do what his predecessors did.able that on his second day in office, he spoke - to president biden, . but on the fourth day, he spent twice as long - on the phone with xi jinping. that is, i think, really- an acknowledgement that japan has a lot of importance to place on its relationship with beijing. - and yes, of course it is- concerned about aggression across the taiwan strait. kishida has already said - he wants to put more money into coastal— security, more money into missile defence. that's also because both times he was on the phone, - he was probably thinking about north korea. - north korea is a real concern. they have tested four- missiles in the last month. and they all whiz overjapan. 0r very close. i think that's one of. the common concerns. whether he's on the phone | with washington or beijing, north korea is always in their mind as well. | just on that, marc roche, general stanley mcchrystal was on television and was asked would the american people back military action if china were to attack taiwan

fumio kishida takes the reigns of the world's third-largest economy while navigating the coronavirus challenges, like north korea. the 64-year-old kishida emerged as the winner of a hotly-contested party leadership election last week. selina wang joins us now live from tokyo. good to see you, selina. so, japan's new prime minister has a multitude of challenges ahead of him. how is he expected to guide the country through the pandemic, and some fairly serious economic issues? >> reporter: yeah, well, kishida campaigned on narrowing the income gap and spending billions to boost the japanese economy that has been hard hit by the pandemic. and one of his key concerns, domestically, is keeping covid-19 cases low. japan has dealt with several surges in covid-19 cases, and only finally are they starting to come out of this long-lasting state of emergency. and slowly, lift these restrictions. and on foreign policy, as you referenced, he deals with growing risks from north korea and china. like his predecessors, he is expected to be in support of boosting u.s.-japan alliances, and working wit

fumio kishida takes the reins. the 64-year-old kishida emerged after a hot election last week.ew prime minister faces many challenges. what does he plan to do when it comes to the economy, the pandemic and north korea specifically? >> reporter: exactly. a tough set of issues for him. he campaigned on narrowing the income gap as well as spending billions of dollars in an aggressive stimulus package to boost the economy. his first priority is going to include trying to keep covid-19 cases low. japan has dealt with a series of waves of covid-19 and is only finally coming out of these long lasting covid-19 restrictions and state of emergencies. on foreign policy he faces increasing risks for north korea and china. he's expected to work with allies. i've been talking to business leaders and they're going to be closely watching how he and a half have i gates this delicate balance with china since it is the key economic partner but also they're growing increasingly concerned about beijing's military assertiveness. i spoke to the outgoing prime minister. these were his words about kish

fumio kishida, this is not a slamdunk for him.e's hoping he's going to get an outright majority, a single party majority. but he is likely to have to rely on a partner to get that simple majority and then maintain the seats to have -- to not weaken his position going forward. >> we have heard prime minister keisha mentioned vaguely -- prime minister fumio kishida mentioned the new capitalism drive. what happens to abenomics? >> the opposition has been hammering on abenomics as well. what fruit has it borne? we have not seen trickle-down impacts. they think there needs to be a re-think. fumio kishida thinks there needs to be a re-think as well. he is maintaining the inflation target and the tenants of abenomics, but he has called it new capitalism that better distributes wealth. he is playing into the investor -- or the voters concerns about income discrepancies on top of economic growth. he wants to give tax breaks to companies that raise wages and give breaks to companies that boost pay for kindergarten teachers and nurses. the b

how unnerved do you think is fumio kishida and his colleagues by the way china is rattling everyone'sd around those disputed islands, and for affecting those other neighbours as well? i think he will do- what his predecessors did. i think fumio kishida will walk a very careful path. _ it's notable that on his second day in office, l he spoke to president biden, but on the fourth day, - he spent twice as long - on the phone with xi jinping. that is really an acknowledgement |that japan has a lot of importance| to place on its relationshipj with beijing, and of course it is concerned about aggression across the taiwan straight. - kishida already said he wants to put more money into coastal security, i more money into missile defence. that's also because both times he was on the phone, - he was probably thinking about north korea, - they are a real concern. they have tested four- missiles in the last month. and they all whizz overjapan! or very close. i think that's one of. the common concerns. whether he's on the phone | with washington or beijing. north korea is always in the mind as w

kishida does need to work on building support. he got the support internally within the ldp, that is why the selection was such a wildcard. he did not have broad public appeal. this will give a little bit of wind in his sales to push forward with his promises. some would say his priority is a bit conflicting. he wants to raise wages and tackle inequality. the boj just last week downgraded its view. this could be negative growth in the third quarter for the japanese economy. kelso wants to push defense spending. he has a bit of a mandate, not as much as he hoped. kathleen: stephen engle joining us there in hong kong. we will have more analysis i had. the former vice finance minister joins later. after days of intense negotiation, g20 leaders agreed on a deal that fell well short of what some were pushing for. president biden called out two nations in particular for call -- holding out. >> russia and china did not show up in terms of any commitments to deal with climate change. kathleen: let's get more from our. editor in d.c.. . wh

prime minister kishida does have a long history of foreign minister, and he was foreign minister, andk japan and china do try and continue to balance their economic interests and that partnership very carefully, but i think there's also now with the developing security architectures in the region such as the pond, such as orca �*s mac and the increasing pressures on what's going to happen —— aukus. there is a lot there. happen -- aukus. there is a lot there. ., ., happen -- aukus. there is a lot there. ., �* there. doctor donna weeks, i'm so sorry to _ there. doctor donna weeks, i'm so sorry to keep _ there. doctor donna weeks, i'm so sorry to keepjumping - there. doctor donna weeks, i'm so sorry to keepjumping in - so sorry to keep jumping in like that, but i'm afraid we want out of time on this subject. it's been wonderful to speak to you. we turn now to the question of looted art. the benin bronzes are sculptures that once decorated the royal palace of the kingdom of benin, in what's now nigeria. british forces stole the art in the 19th century. today, cambridge university become t

i think fumio kishida will walk a very careful path. _ it's notable that on his second day in office,nping. that is really an acknowledgement thatjapan— that is really an acknowledgement thatjapan has— that is really an acknowledgement that japan has a _ that is really an acknowledgement that japan has a lot _ that is really an acknowledgement that japan has a lot of— that is really an acknowledgement that japan has a lot of importancel that japan has a lot of importance to ptace _ that japan has a lot of importance to ptace on— that japan has a lot of importance to place on its— that japan has a lot of importance to place on its relationship- that japan has a lot of importance to place on its relationship with l to place on its relationship with bay showing, _ to place on its relationship with bay showing, and _ to place on its relationship with bay showing, and of— to place on its relationship with bay showing, and of course i to place on its relationship with bay showing, and of course it l to place on its relationship with| bay showing, and of course it is concerned — bay showing,

. >>> japan has confirmed a new prime minister, fumio kishida. taking control of the economy as well as managing the pandemic and challenges like north korea. he emerged in a hotly contested election last week. tell me how differently this new prime minister might govern, especially because he has an election coming up almost immediately. >> kishida is expected to be the status quo pick. his cabinet is set to be aides of former prime minister abe. and he's going to be the face of the ruling liberal democratic party that has faced heavy criticism for the leadership of outgoing prime minister suga. he was criticized for his handling of the olympics and covid-19. and while the ldp is expected to maintain its dominance, the risk is that it could weaken if kishida is not able to excite the voters. he is an ex-foreign minister, a political veteran. but he's struggled to shake off the image of just another boring politician. but ultimately, they went with him, who is seen as a safe and stable choice as prime minister. he campaigned on boosting the incom

but any gains by the opposition could hinder kishida's agency. facebook has suffered a devastated outage that shut out many of its 2.7 billion global users and prompted an apology from the chief technology officer. many users around the world could not access the family of apps including the main social network instagram and what's app. facebook shares were already under pressure following a whistleblower's claim that the company put profit ahead of users' well-being. taiwan says a total of 56 chinese military aircraft were detected in its air defense identification zone monday. as beijing continues to step up its military force near the island. the flights came after national day celebrations marking the 72nd anniversary of the founding of the people's republic of china. earlier the u.s. urged china to hold its fly byes saying they could lead to miscalculations. global news 24 hours a day on air and on bloomberg qitake powered by 2,700 journalists and analysts. i'm vonnie quinn. this is bloomberg. haidi: opec says it's not yet ready to boost oil

people injapan are voting in parliamentary elections, weeks afterjapanese prime minister fumio kishida to hold onto the majority. he assumed the leadership after the resignation of the former leader over criticism of his handling of the pandemic. yuki tastumi spoke to me earlier. she told me how voters are feeling as they head to polling. people are looking at this election with a bit of trepidation, they are hopeful that all of the covid restrictions have gradually been lifted so they are slightly hopeful about a post— pandemic lifestyle coming back to them slowly but surely, but at the same time, there is a lot of stress and disappointment and frankly quite a great deal of aggrievance to the ruling coalition about about how the government, led by first prime minister shinzo abe and then prime minister suga, have handled the government response to the pandemic. we have to see. this is one of the most unpredictable elections i have seen, that polling results have continue to change right up until the last minute. it will be very very interesting to see how unaffiliated voters will move

japan's parliament is about to hold an extraordinary session in which fumio kishida is expected to be kishida won the liberal democratic party's leadership election last week and is widely seen as an establishment candidate. he replaces outgoing prime minister yoshihide suga but he must call a general election before the end of november. a week after germany's inconclusive general election, the outgoing chancellor angela merkel has urged politicians to resolve their differences. her conservative cdu party narrowly trailed the centre—left sdp at the polls, leaving both hoping to clinch a coalition with the smaller greens and the free democrats. negotiations are likely to take weeks, leaving mrs merkel in a care—taking position in the meantime. the swedish cartoonist lars vilks, whose caricatures of the prophet mohammed caused outrage in the muslim world has died in a car crash. he was 75. two police officers who were protecting him also died when the car they were all in collided with a truck in markaryd in southern sweden. the driver of the truck is in hospital. an investigation is se

japan�*s parliament is holding an extraordinary session later in which fumio kishida is expected to be party�*s leadership election last week and is widely seen as an establishment candidate. he replaces outgoing prime minister yoshihide suga but he must call a general election before the end of november. the swedish cartoonist lars felix says character periods of government, —— cuttings of prophet muhammad has died in a car crash. the police officers protecting him also died when they collided with a truck. the driver of the truck is in hospital. he has been living under police protection since 2007 because of numerous death threats from islamic extremists. a large oil slick has begun washing ashore in southern california. beaches in orange county, south—east of los angeles, have been closed as oil and dead wildlife wash up on the sand. almost 500,000 litres of oil have leaked from a pipeline connected to an offshore oil rig. courtney bembridge reports. california is known for its beaches, but not like this. clumps of oil and tar the size of softballs scatter the shoreline, as well as

when it comes to change, key sheet will set up -- kishida will set up a new position. we are yet to see what that means for japan's trade relationship perhaps with china and the u.s. haidi: what do we know about the potential for stimulus measures that might come along the way? stephen: kishida did say in his campaign that he wanted to push out trillions of yen of stimulus by the end of this year and when we spoke to him before that election, he was saying that it would make sense if you take ¥30 trillion demand gap into account when pricing up that stimulus. when it comes to the timing come over the weekend, the new secretary-general of the liberal democratic party, he said that we would have to wait until after the election for the amount of that stimulus. if you announced that before the election, people will say it's too low and make it go up and up and up. he says wait for the election. he will need to dissolve the house of representatives for a snap election. local media are saying november 7 or possibly november 14 could be our election days so looking forward t

former top diplomat fumeio kishida will take the reins.emerged as the leader for leadership of the liberal democratic party last week. he's bring in selena wang from tokyo to talk more. how differently might the new prime minister govern? >> really he was seen as the status quo pick, who is going to be a continuation of his successors. his cabinet is set to be heavy on allies of the former prime minister shinzo abe, and his first test will be this general election coming up. he will be the face of the ruling liberal democratic party that was criticized for the leadership of outgoinging prime minister suga. while the ldp is expected to maintain its power, the risk here is that he's not going to -- kishid, is not going to excite the parties and the party's dominance may be weakened. he was not the public's popular choice. he has struggled to shake off this image as a boring bureaucrat. he is a political veteran, a former foreign minister. but he was not the popular one. it was tara kono who was really the public's favorite. but ultimately, t

japan goes to the polls on sunday, less than two months after prime minister fumio kishida was electeddemocratic party. the party is expected to lose seats, but not lose power. in fact, the ldp has failed to retain power in only two elections since 1955. so, what explains the enduring success of a party that regularly gets the votes ofjust a quarter of japan's registered voters? from tokyo, rupert wingfield—hayes reports. for all but six of the last 65 years, japan has been led by the same political party, the ldp. this weekend's election looks certain to be won by them again. yet the ldp is not especially popular. it's been led by a succession of rather un—charismatic men, so what explains its tremendous success? partly, it starts here in the japanese countryside. this town of 5,000 people is an ldp stronghold. most residents here are old and old people vote. we met this couple on their way to cast their ballot — that's right, for the ldp. translation: it will be a huge mess if we let i the opposition win. they don't have the experience ldp has. translation: i agree with my husband. -

the ruling liberal democrat party or ldp led by fumio kishida is expected to remain in government but a professor of political science at musashino university in tokyo, she said young voters will be particularly important. the recent polling is indicating that the liberal democratic party is unlikely to lose government. the question is, how many seats it might lose from its current majority, or indeed some speculation it might increase. but the figures are a bit all over the place at the moment, suffice to say it does look like they will remain in power at least.— in power at least. there has been a big _ in power at least. there has been a big push, _ in power at least. there has been a big push, there - in power at least. there has been a big push, there to i in power at least. there has l been a big push, there to get more young people give out in these elections. is there much engagement amongst young people about the elections, or politics in general injapan? yes, there has been increasingly usually social media like twitter or another popular social media platform here to help s

people injapan are voting end of the parliamentary elections weeks after the new prime minister fumio kishida took office. his liberal democratic party which is common for much of the past six decades is hoping to hold its power in the lower parliament. lawyers for prince andrew have accused woman of trying to achieve another payday at the duke's expense. virginia giuffre says she was sexually abused by him as a teenager. prince andrew has always denied the claims and now has asked a judge to dismiss a civil lawsuit against them. i will correspondent has this report. after months he has appeared to ignore the civil lawsuit brought forward by virginia giuffre, he has now instructed lawyers to fight to clear his name. the queen's second son has been accused by virginia giuffre of sexual abuse when she was 17, and thus a minor under us state law. in papers filed in new york last night, the prince's lawyers have asked a court to dismiss the lawsuit or to require ms giuffre to provide a more definitive statement of allegations. court papers state prince andrew never sexually abused or assaulted gi

japan goes to the polls on sunday, less than two months after prime minister fumio kishida was electedarty. from tokyo, rupert wingfield—hayes reports. for all but six of the last 65 years, japan has been led by the same political party, the ldp. this weekend's election looks certain to be won by them again. yet the ldp is not especially popular. it's been led by a succession of rather unremarkable, un—charismatic men, so what explains its tremendous success? partly, it starts here in the japanese countryside. this town of 5,000 people is an ldp stronghold. most residents here are old and old people vote. we met this couple on their way to cast their ballot — that's right, for the ldp. translation: it will be a huge mess if we let i the opposition win. they don't have the experience ldp has. translation: i agree with my husband. - part of the reason why the ldp does so well is that it's always made sure that the taxpayer money keeps flowing into places in the countryside, particularly to build infrastructure. this place has a perfectly good road on the other side of the valley, but a f

but it could make things difficult for prime minister kishida going forward.and its junior coalition partner see an erosion of their lead, it could humble him from the start and make it difficult for him to continue on. japan has a history of short-serving prime minister's. getting to a stumble just a few weeks after taking off could make administration difficult for prime minister kishida. rishaad: john her covid, our asian government at her. government at her. rishaad: we have just over three minutes to go before it all kicks of the week at the indian capital. at record highs for the nifty anderson six. momentum is certainly there, but can it go much further? no doubt a positive start to the trading day. also, india's finance ministers saying that the government is not in a hurry to wind back stimulus she spoke to bloomberg about global tax rates, climate, and how india is emerging from the pandemic. >> we have been very carefully working together with the rbi to see how best we should be watchful of the situation and take timely, consistent, both in the --

>> fumio kishida is a form er leader. campaigned on this plan of spending billions of dollars to help boost gentleman man's economy that's been hard hit. he's expected to support a strong alliance with the u.s. the really big question here, christine, is how long he can stay as prime minister for. before shinzo abe japan rotated through six prime ministers in six years. >> thank you so much for this. >> thank you so much. >>> programming note, the new cnn series "diana" premiers sunday at 9 p.m. on cnn. >> look forward to that. tom brady returning to the new england patriots. just returning to new england to take on his old team and he made history along the way. bleacher report is up next. i just have to ask. does my aveeno® daily moisturizer really make my dry skin healthier in one day? - it's true jen. - really?! this nourishing prebiotic oat formula moisturizes to help prevent dry skin. - one day? - for real! wow! aveeno®. healthy. it's our nature.™ and for twice the moisture, try the prebiotic oat body wash, too. i g

the election was considered a test for the country's new prime minister fumio kishida, who won the ldpttack the firefighters were part of a larger group of almost 30 taking part in the exercise. emergency services work for several hours to find those missing inside a remote cave in sao paulo. the site isn't accessible to the vehicles or heavy machinery. the white house press secretary has positive for cova 19. in a statement, she says she last saw presidentjoe biden on tuesday when they sat 1.8 meters apart, both wearing masks. she says she is vaccinated and mild symptoms. after a dozen passengers are reported to have been injured after a crash involving two trains in southwest england. it happened near salisbury, in wiltshire, when a train carriage was reportedly derailed after hitting an object on the line, knocking all the signalling in the area. it was then hit by second train. i believe he was some pictures from mexico, let me leave you with some pictures from mexico where they are starting the day of the dead festival. there are costumes, dancing and elaborate floats. these are t

at the start of a month that's typically good for the benchmark and kishida on his first day as prime minister really unnerving markets with his plans for wealth redistribution, #kishidashock was trending on twitter as stocks did take a dive and over at norma they expected the corrective mood in japan will continue until there is crater around the earnings season coming up, haidi. haidi: over to vonnie quinn with the first word headlines. vonnie: haidi, thank you. u.s. national security advisor jake sullivan will meet with china's top diplomat in switzerland this week. u.s. officials say young and sullivan will follow up on the september phone call between presidents biden and chi. a summit between the two leaders is on the agenda. trade is also on the table this week with talks planned between u.s. representative katherine tay and the vie niece vice premiere. democratic senator elizabeth warren has criticized the federal reserve's leadership saying chair jerome powell showed bad judgment by failing to stop unusual trading activity by top officials. speaking on the senate floor warren

whether it is in the u.s., the u.k., or even cushy data out of japan, -- kishida in japan. we are talking about a higher focus on wealth taxes across the world. maybe we will have a little bit more of the pain for inflation on markets who benefited from inflation so far but there will be a slow transition and pushed back and forth. dani: is that the markets play we are looking for? this which in the tax regime -- the switch in the tax regime? mark: it's no longer going to be this golden period for markets while the real economy goes to higher markets. there might be more pressure on markets. i don't buy into this stagflation narrative. i think it will be a more difficult inflationary regime for markets. dani: great to get your thoughts and of course, you can always get up-to-date insight from mark and the rest of the team. you just have to type mliv on your terminal. leaders gather for a special summit pennsylvania. on the agenda, china and the energy crisis. we are on the ground with maria tadeo, plus we will be speaking later with the ceo of volvo trucks. it's all ab

incoming japanese prime minister kishida is set to name a new finance minister. the person taps for the post is the son of a former premier. australia is moving to ease its covid travel restrictions. it currently mandates a 14 day hotel stay regardless of inoculation status. the new system could be introduced as soon as november, but only in states that reach 80% vaccination rates. global news, 24 hours a day, on air and at quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. tom: coming up, both houses of congress passed a bill with just hours to spare to avoid a government shutdown. but they failed to resolve the threat of a u.s. deal linked to the debt limit. ♪ plus china's power crunch is unleashing -- in the global commodity markets. francine: next, markets in the fourth quarter. aussie action and what we can expect in the final stretch of the year. ♪ francine: not looking great for the moment. european stocks, futures down 1.4% after pressure we saw in the u.s. yesterday, also pressure in

>> this was the first mention that kishida said of a panel setting up for this new capitalism.hasn't fully explained what it means, it does sound a bit like common prosperity. one of the things he has emphasized is pay rises in the public sector which one of his advisors have told us could lead to bigger pay rises across the board. he has also talked about the corporate sector and he said that it shouldn't just be shareholders who are benefiting from growth. there should be more benefits for people actually working in the companies, all of the stakeholders in the companies. this is a bit of a shift in thinking. he wants to get away from any kind of mere liberalism in terms of ideas, the panel is to review the ideas and figure out a plan to go forward. i think there are going to be other ideas around digital liesization and environmental issues, it will be interesting to see what comes out. the tax rate on investment income, he certainly said a couple of times that he is going to review that and there could be a hike coming for people who have large investment incomes. shery: he

kishida is basing his campaign so far on economic redistribution, but in terms of the -- you mentionedpeople are much more interested in economic growth than his redistribution policy. it does not seem to be resonating with voters. he asked just a few days of turning things around and he will see if he can get more people on board but these policies to boost salaries and make sure the fruits of the economic gains are spread more widely. >> john herskovitz with the latest. here's a quick check of the business flash headlines. elon musk medassets prize appearance and said he is sure the german automotive giant will master it's moved to electra vehicle. musk told -- he is an engineer who is fascinated with the production process. vw ceo said tessa's handling of the global chip shortage is impressive. saudi arabia is said to have hit several technology firms with tax bills worth tens of millions of dollars. as it reassesses its tax model for the gig economy. uber and its subsidiary will face a combined bill around $100 million. india's bank fell on 80% rise in quarterly profits, getting a

which will be more focused going forward i think with distributional aspects that prime minister kishidajapan's governor has a goal of balancing the budget, reaching a primary balance by fiscal year 2025. would it hurt japan's standing if they were to temporarily halt this or do away with it altogether? with the imf be concerned? >> our view is first, it is most important to support the economy in the near term. in the medium-term, we do expect to see fiscal consolidation in japan. a specific date by with the primary balance -- reaches balance, i should say, is not what we focus on this moment. it is mainly that once we get past the covid pandemic, to have a credible medium-term consolidation. reporter: i would like to ask you, what is the most important change that needs to occur as a response of covid, in other words in the aftermath of everything going on, what would you like to see next? >> i just the first question continues to be, of course, support the economy. as we move, it is to think about how resources in japan need to be reallocated to promote growth over the longer term. ce