ok, thank you very much indeed, the latest there on kobe steel.t in general in asia, a fairly flat day is not a bit down. the main market in tokyo closing down by .8%, it was at a 21 year high yesterday, though, so let's put it in perspective. let's look at europe now, everything edging slightly higher, no big moves in either direction. singles day tomorrow, the biggest shopping event of the year, it is really what alibaba, less of the year, it is really what aliba ba, less than of the year, it is really what alibaba, less than ten years ago, turned a quirky celebration of single people in china into a massive global shopping grabbing —— shopping extravaganza so companies like alibaba tomorrow will be making billions of dollars of profit in 24—hour was, big event for asia and china in particular tomorrow. samira hussain has the details about what's ahead on wall street today. on friday the department store operatorjcpenney will be reporting earnings. last month jcpenney slashed its full—year forecast after selling some of the inventory that just w

they said the company found the issue during an investigation following data falsification at kobe steelnufacturer in japan. they have a 45% share in a joint—venture with kobe steel, including the hatano plant, the centre of whole scandal. they admitted workers tampered with product specifications, causing aircraft makers and other companies to check if their safety performance had been compromise. this is the latest involving japanese makers including automakers like nissan and subaru, who also failed to comply with procedures for decades. more problems for japanese makers. with procedures for decades. more problems for japanese makersm seems so. thank you. and now for other business stories. the us federal reserve looks set to raise interest rates again next month. minutes of its last meeting showed a majority of committee members saw the need for a rise in the "near term." that's despite concerns about the weak level of inflation which has been below the fed's 2% target for years. taxi app, uber, is facing investigation in at least three european countries after revelations it failed

but the reasons for such betrayals of trust are anchor deef the heads of kobe steel the first company to admit fault were contrite about the quality control issues for years the steel makers submitted fake data on the quality of their products and what investigators now think was an attempt to increase profits carmakers nissan and subaru soon followed in kobe's tracks safety checks on many cars hadn't been carried out properly hundreds of thousands of vehicles had to be recalled what makes mitsubishi materials admission even more serious is that their products are also used in military equipment japan's defense minister sought to calm fears. we believe there is no need to suspend our usage of the related equipment as we haven't received any reports on any trouble. that wasn't enough to comfort stockholders on friday in tokyo shares in mitsubishi materials took a nosedive. well in the wake of the w.'s diesel gate scandal every german call maker has plans for electric cars and a bit to keep up with tesla b.m.w. is already building prototypes of the electric engines of the future it's pl

but the reasons for such betrayals of trust are anchor deep in the heads of kobe steel the first company to admit fault were contrite about the quality control issues for years the steel makers submitted fake data on the quality of their products and what investigators now think was an attempt to increase profits carmakers nissan and subaru soon followed in kobe's tracks safety checks on many cars hadn't been carried out properly hundreds of thousands of vehicles had to be recalled what makes mitsubishi materials admission even more serious is that their products are also used in military equipment japan's defense minister sought to calm fears. we believe there is no need to suspend our usage of the related equipment as we haven't received any reports on any trouble. that wasn't enough to comfort stockholders on friday in tokyo shares in mitsubishi materials took a nosedive. now britain's messy divorce from the european union is still looking rather messy and later has the latest right there's more fallout to this time in ireland where ireland's minority government is on the verge of col

last month kobe steel admitted to falsifying data about the strength and quality of its products. well both nissan and subaruu have had to recall hundreds of thousands of vehicles for flawed inspection. a these instances of misconduct is up the trails rescue japanese. during this week the ministry to images the eyes ruhayem on the factors industry not resigned i social trails. so far one of the main victims of mitzi is the trail has been its shareholders. on friday the firm lost over a tentnth of its market val. the sticking in the financial markets now trading was shortened wall street's duterte thanksgiving weekend's the snp and nasa both finished at another record highs as the black friday shopping bonanza. that boosted amazon and other retailers. argentina's finance minister says that the country's inflation will likely and the yet a buff twenty one percent. inflation rate has roughly hopped the in the last year and a half as present my r resume mochrie has stepped up efforts. to narrow the country's fiscal deficit and boost investment and consumption. the president who took o

kobe steel was downgraded to neutral. we have a new ticker in sydney. ghgatequity.s is domain.l due to start trading today. we are waiting to see if there will be any moves. keep and eye on this. it is a spinoff of fairfax media. that's the worst performer so far today in sydney. rishaad: thank you. going to stick with the market theme at the moment with honk song -- hong kong stocks having a steep decline. shares falling back on the liquidity outlook. we have seen a selloff in global equities. we look ahead to today. is the party over for the time being? tencent is the answer to that question. the result for tencent holdings came out after most asian markets closed on wednesday. as you have been saying the results are extremely good. i would not be surprised if that given boost to most asian markets. see -- e start to the japanese markets have not opened badly today. they let the decline which started last week with a massive turnaround in the japanese markets. five negative days in a row. yesterday was very high in the topics. a bit of capitulation. wouldn't be su

energy, materials leading the drop with kobe steel among the biggest lagers.t was downgraded to neutral. shiseido among the best performers. things to consider in the tokyo session. the yen is holding euro one month high, near uncertainty over u.s. tax reform. the aussie dollar below 76. bonds are climbing before we get october jobs data at the bottom of the hour. the aussie finishing around 76 by the end of the year. before i go, a quick stock check. fairfax media in sydney is thinking this morning. its listing40% of in a domain, macquarie's target $.70. the u.s. fda said tests show increased rates of heart-related deaths. we do have a bit of pressure there this morning. betty: sophie kamaruddin the stocks you need to watch. president trump we saw earlier today presenting his marathon trip in asia, saying the u.s. standing in the world has never been higher. he said he wants new respect from regional leaders about -- after many the drum on security and trade ties. host trump: our foreign welcomed the u.s. delegation with incredible warmth, hospitality, and mo

kobe steel is snapping a six-day event. yvonne: thank you so much, sophie kamaruddin, watching stocks in th japan. the largest tech m&a deal could reshape the chip industry. broadcom says it is prepared for a proxy fight after indications that it's $105 billion bid for qualcomm will be rejected. both companies slumping on this report. semi-conductor reporter who broke this news. it sounds like a very complex deal. iss is really broadcom's -- this broadcom's way of saying we have got to catch up with samsung and intel? >> i mean, the deal is really with what broadcom has been doing all along every couple of years or so. he basically buys a company that is as large as he is and gets twice as big. this would be the next step up. morehe sees is a lot growth. all you have to do is find companies that own the core technology, the things that are really important to the electronics industry, and that is what he is trying to do with qualcomm. >> and qualcomm's response has been lukewarm? ian: we reported over the weekend that they

we have seen companies in japan whether you are talking about takata or kobe steel or the japanese banks am curious again as the cio of callister's, how much do you think you can do? what is your view what is going on? >> you know me, i take a long-term view. we have been a corporate governance in japan for two decades. we have made incremental gains, but in the last year in the half a mile we have seen significant improvement. at the end of this week, i am going to tokyo to meet with the pension plan. governance.lobal what can we do to increase the awareness of corporate boards, make them more attentive. i would not have thought a decade ago we would have independent directors starting to be on the japanese boards. it is huge. is that a milestone we expect to repeat over and over? no, it will be slow, but that is the first change. having people aware of shareholder return will be a huge difference to the japanese economy and market. that is what will get the savers to start becoming investors, which is what they need long-term. yvonne: you mentioned gpis. how much loved to these asian p

in the same way as when we talked last month, it was a kobe steel problem, not a japan problem. japanese corporate culture has other implications, because what it does do then is prevent us from questioning some of these companies. yes, and that is exactly right, because there is no way a single person or single leader can single-handedly change a country's corporate culture. change the culture in his company and many have done so successfully. something, very few of these top executives have been called to account properly, have they? it seems to be accelerating in japan. there seems to be less tolerance for this kind of thing. it seems that company employs internally are speaking up. rishaad: and that is a change, is it not? >> it is a change, and it has gone in the right direction come but when it comes to calling leaders to account, this is critical. i do not believe mitsubishi head can stay in a position of leadership incredibly lead an investigation or ultimate reform. i believe the same is true of the ceo of mitsubishi cable. he allowed thet malfeasance to continue even a