i am more bullish on oil prices than lng. with the overcapacity in the asian market, and continued challenges to build new lng projects, i think it will stay quasi-oversupply until about 2022. beyond that, to the middle of the next decade, you will need new projects coming into the market, and we believe an exchange -- an expansion is ideally suited to start to fill lng demand in the early 2020's. you will not see many in our region be successful, but with cooperation and optimal capital usage, we think we are very competitive and can fill the void. i think it will be a number of years before you see the lng market return to some form of quasi-normality. but as production and operating we will beow in png, one of the most competitive suppliers in the region in the short-term. rishaad: what about the buyers? think about japan. they used to have long-term contracts and they are trying to get away from those. the thing is, how does that affect your ability to finance investment projects? to how you usek and meet capital. i think

oil companies are pushing into the lng world for a greener future.f bg group made the dutch giant the world's largest lng trader. but not everyone is aboard the lng train. coal is still cheaper. renewables pollute less. countries like japan, the largest importer in the world, is focused on nuclear power, after starting to get reactors back up and running after shutdowns prompted by the 2011 tsunami. plus, some u.s. gas utilities are opposed to large-scale exports of lng, saying, longer-term, it could raise gas prices for american consumers. ♪ erik: you can find a wide selection of quick takes on the bloomberg. you can also find them at bloomberg.com, along with all the latest business news and analysis 24 hours a day. that will be all for "bloomberg best" this week. thanks for watching. i'm erik schatzker. this is "bloomberg." ♪ ♪ announcer: from a our studios in new york city, this is charlie rose. is the night hillary clinton accepted the nomination for president of the united states into and so doing she made history. we are taking the shortly bef

but not everyone is a bore the lng train -- not everyone is a board the lng train.n, the largest importer in the world, is focused on nuclear power after starting to get reactors back up and running after shutdowns prompted by the 2011 tsunami. plus, some u.s. gas utilities are opposed to long-term exports of lng, saying, longer-term, it could raise gas prices for american consumers. ♪ erik: you can find a wide selection of it takes on the bloomberg. you can also find them at bloomberg.com along with all the latest business news and analysis 24 hours a day. that will be all for "bloomberg best" this week. thanks for watching. i'm erik schatzker. this is "bloomberg." ♪ ♪ haslinda: hello and welcome to "highfliers." that show that gives you a 360 degree view of asia's business elite. we made one of asia's youngest and most prominent hotel ears. -- hoteliers. this millennial is leading a billion-dollar brand. she is helping to expand its presence east we

they can carry lng all over the world.is the ships are too big to fit in the panama canal. until now. canal billion panama project was finished in june 2016, allowing for faster shipping dickey markets like asia. what does this mean for global energy? a growing number of countries are trading in lng, with 34 nations importing it by the end of 2014 compared to just 15 and 2005. the demand depends on how fast countries can turn away from coal, the largest source of power generation in the world. one elegy selling point is that it is cleaner, producing about half as much carbon dioxide as coal. oil cavities are pushing into the lng world to embrace the greener future. show's fit -- shell's acquisition of the bg group made it the largest lng trader/ not everyone is on board. coal is still cheaper, renewables pollute less, and company -- countries like japan focus on nuclear power after starting to get its reactors back up and running after shutdowns prompted by the the synonymy. -- the synonymy. it can raise gas prices for ame

the global lng market is oversupplied right now, prices have tumbled more than 60%.you need to be able to do is to have low-cost. and pop what new guinea, they guinea, they new have low labor costs. owns andon already export terminal. it gets more gas to feet into his existing plant and can use synergies to use -- to build its new facility. yvonne: what happens next? where is the ball and which court is it on? it says it is going to talk to total and figure out what their options are and decide. they have a $60 million clause if the deal does not work out. oil search is in a pretty good position either way because they are a partner with exxon mobil and they will still be a partner in the new lng project. if they decide to bid or not bid, they will see these projects go forward. yvonne: could be a win-win. live from singapore. let's stick to singapore, we may see more companies default as they struggle to meet the terms of their debt. let's get to our southeast asia correspondent. how big of a problem is it? it anda: let's call growing problem. defaulted,es have the

are already a partner in exons current lng venture. they will be a part of this new proposed one. in our part of the world. life for us in singapore. singapore may see more companies default as they struggle to meet the terms of their debt. to oil and gas companies have already sought to extend maturities hurt by the weakness in the oil industry, but are there more to calm? to our southeast asia correspondent, does it look bad? and how bad does it look? >> there is a potential of a getting much worse. two companies have he faulted, and bloomberg data shows 10 more are at risk. they are finding it hard to meet the terms of their debt and looking to extend maturities or loosen covenants. is looking to extend maturity of its bonds in october by as much as two years. that says a lot about how challenging it is for the companies and oil related companies most at risk your good they hold about $1 billion in bonds maturing through 2018, almost a fifth due by year end, but take energy players have yet to reinvest. company still treading water. that is why it is so difficult for these comp

they work with exxon on an lng project.other, they are involved , andtotal and interoil their whole purpose in making to find a way to integrate and make some money. easier for those two projects to be integrated. they get the benefits of the acquisition without the eluded interoil stock effects to without the diluted stock effects to purchase interoil. it is a pretty strong statement. the natural gas world is facing a big oversupply, projects are being shelved or delayed all over the world. for an oil major like exxon to up this offer and show this much , itrest in papua new guinea shows they think that gas reserves will be cheap to develop and export and can compete at these low lng prices. the projectseans get accelerated, and there is more feeling they will move forward now than if exxon had not made the bid. rishaad: we will get more on the chief executive at oil search and just about an hour. right, events in asia. the turkish lira taking a huge hit. for that story and others, here is the roundup. turkey has declared

but not everybody is aboard the lng train.pan, the largest importer in the world, is focused on nuclear power after starting to get reactors back up and running after shutdowns prompted by the 2011 tsunami. plus, some u.s. gas utilities say longer-term it could raise gas prices for american consumers. you can find a wide selection of quick takes on the bloomberg. you can also find them at bloomberg.com along with all the latest business news and analysis 24 hours a day. that will be all for "bloomberg best" this week. thanks for watching. i am erik schatzker. this is bloomberg. ♪ prime minister, thank you very much for making the time to talk to bloomberg after what has been a very difficult week for turkey. you especially about the future, the next steps for turkey after successfully stopping the coup. had, wetion we have have heard a lot from investors and markets in the past week, is how far will

this will be hard to avoid areas mark: this is 20% of the global lng market.r going to find -- when are we going to find the benefits? will: the biggest benefits will be lower oil prices, which are taking through lng, dragging down earnings. it will happen. a do control a huge amount of production, a lot of trading, a lot of shipping, and in the years ahead, that will produce cash profit. it is taking time. ,ark: the refining on our radar and the wonderful bloomberg charts showing this, the biggest refiner is total. we had a beat. explain why it beat and how this refining business is doing. will: if refining business is the biggest in europe, it will face declining margins. there are two reasons why it did well. one, it has a strong pipeline production. in contrast to shell, it is growing fast, five cents higher than a year ago. that means more cash. and they have been successful in driving bankruptcy out of target. annualion out of the total. he has more than exceeded that. that is why he did better. shell, we get the trend. , shall index onto look forward to

jordan is also importing lng.pt has two floating lng terminals in operation and they are talking about increasing it to three. yousef: morten, thank you for coming in this morning. coming up, qatar airways says it is in talks with boeing as a plan b in case its issue with airbus remains unresolved. we will talk to the ceo next. this is bloomberg. ♪ angie: welcome back. qatar airways' profit more than can drew gold late last year -- more than can dren quadrupled le last year. we spoke to the qatar ceo at the air show. akbar: other than the foreign exchange due to the brexit, we are not affected. we still have the passenger numbers. we see passengers traveling in and out of europe. more and more people are going into the u.k. because of the lower pound. iag,u have a 15% stake in what at this the a golden opportunity to invest more? akbar: we want everyone to stay at that level. we are long-term investment so we are confident that this relationship between us and keep benefiting from each other's purchasing power. >>

. >> pokemon go has players all over the streets of the district and doug in our studio lng few placesff-limits. our viewers have seen them outside the capitol, even inside the white house. but whatever you do, please don't go searching around the memorials, in and around d.c. >> be careful with that game. >> very careful. that's going to do it for us. "the tonight show" is next. [ cheers and applause ] ♪ >> steve: from studio 6b in rockefeller center in the heart of new york city, it's "the tonight show starring jimmy fallon." tonight, join jimmy and his guests -- melissa mccarthy --

hong kong billionaires are teaming up to build an offshore lng terminal to satisfy the city's energythe aim to have it operating by the end of 2020. they are among the hottest assets in energy because they allow fast access to an oversupplied market. hong kong gets 53% of power from coal and 22% from natural gas. up next, rolling the dice. when the cow's newest casino -- cacao's newest casino will open. we will talk more about that. this is bloomberg. ♪ yvonne: welcome back to daybreak asia. intelligence gaming analyst, we were talking earlier this week about sands china reporting and they were upping the outlook for macau. >> the shares have fallen because of las vegas in that are good and the parent companies perspective. there were labor costs. they beat consensus i 10%. all of that really is driving profitability and it is to leading the market. the prospects are great when you know that they are moving into the strip. yvonne: they will be competing with a lot of rivals. especially the shift towards the mass-market clientele which, frankly, they are not quite familiar with. how w

and in addition to that, another big business at shell, the world's largest lng producers and that underperformed: good news, total beat estimates. what is the reason? costs and are cutting that is one thing investors love, particularly if you can cut operating costs. it will erode your future growth . they had returned of 2.4 billion dollars of cost cuts and they say they are going to beat that target. ryan chilcote on shell and total. the swing in the currency could be a prologue to a very volatile friday. trade awaits the boj decision p it we look ahead to what is next. this is bloomberg. ♪ mark: japanese stocks falling. the yen strengthening before tomorrow's decision by the boj. it is $260 billion economic stimulus package, about a quarter of the total an actual government spending. janet henry is here. 20 trillion, it is a month to figure but how much is actual spending? apparentat will come that's that will become apparent in the coming months. i would not rush into revising your japan gdp forecast. maybe half of it is fiscal spending some of that may involve loan guarantees which are at z

if you can take the cycle time of -- let's see the utility or lng plant or refinery down by 10%.ou had a chance to visualize and manage the human data interface down by 10%. that's probably worth $50 billion or something. >> you know, i'm not a great gamer so i can't really -- i can't really say how much that is worth but the industrial applications of this are going to be billions of dollars of productive and that's where the industrial -- >> how far off do you think we are from widespread adoption of technologies like -- >> like this? >> yeah. >> within 24 months. >> and that was one of the big takeaways from this interview. jeff immelt of ge. just as excited about augmented reality and it's ability to save industrial companies billions of dollars within a two year window right now. to an opportunity to make a lot of headway there. back to you. >> great stuff and really important. we'll see what the next 24 months look like. that's for sure. when we come back it's set to be the most expensive deal for an organization in sports history. the ufc selling itself for $4 billion. det

will be exporting more natural gas than it imports for first time since 1957, due to the adding of lng exports. so that is big. gold market pulled back. a lot of concerns what happens post-"brexit." one of the big things gold traders are talking about, we now know who the prime minister in the uk is going to be. that takes away one level of uncertainty and one other reason not to be buying gold as safe haven play. they like the stock market, get out of gold, that was the play for today. connell: that sets us up nicely. thank you, sir, phil flynn. melissa? melissa: new records on wall street dow and s&p closing all-time highs as nasdaq turns positive first time this year. we said it before, it bears repeating. it's a big day. gary kaltbaum, kaltbaum capital management. fox news contributor. jason rotman, lido isle investors. thank you both for joining us. gary, what do you make of the market, new record? >> i have been bearish to neutral for 18 months. melissa: are you losing money then? >> no, no. melissa: market is higher and higher. >> once dow and s&p breaks out of this 18-month ran

i know in new york state there have been an lng plant and pipelines stopped, but that's because a decision was made by the state. when you have ferc making the decision, there's really, they're not a democratic institution. they're doing his of the oil and gas industry. nobody really knew much about them until this fracking debate started. and i would say that the problem that you have with your local electricity market and you mentioned the iso, that's all a result of the deregulation of electricity creating that wholesale market so electricity could be bought and sold. we're going to have to get rid of the system and put into place actual mandated. i -- mandated. i know it's not a popular subject, but we need to speak the truth about this. the way that the system is, has been created today, there's no way that you can really get the renewables and the energy efficiency development that you need. it's all been fixed. so it's fixed -- it's probably get rid of ferc. right now while we're having this discussion there's actually a coalition of some of the pipeline groups having a meeting. i t

we're still not shipping lng yet. natural gas is lot of volatility. look for that to keep going lower as well. liz: let me get to teddy on the floor of new york stock exchange. not surprising after four very significant rallies post-"brexit" it was pretty stunning. in two days after the british decided to exit the european union, the markets fell, at least the dow, 871 points. the following four sessions they scratched back 809. so you give up another 100 points or some is that normal? >> i guess so, liz. sort of a good news-bad news rob significance. the bad news every time we get up to the dow 18,000 level the market runs out of steam. the good news the rally we saw last week was really broad based, much more so than we have seen the last six to eight months what we've seen rallies. that was really good. and number two, the fed is on hold for interest rates. that is a plus for the market. the another negative when they get up here and they seem to run at of steam and there doesn't seem to be a catalyst to punch them through, significantly punch them

we need lng terminals. re need refineries. the kind of energy -- once we get that infrastructure in place, we can start sending this stuff all over the world. think about who the losers are with we do this. think about the national security implications. if we start selling energy rather than big it. right now today we spend about somewhere in the neighborhood of $200 billion a year importing energy from a lot of countried. a lot from canada and some from mexico but a plot of it comes from the opec countries, countries that hate us and are trying to kill us. comes from countries like iran and countries like saudi arabia and venezuela and we know that isis is almost completely funded with petrol dollars. so to the extent we can stop big that, this is an enormous game-changer in terms of middle east politics in of what these means for our economy we would increase gdp by one percentage point per 'er with a pro america energy policy, using coal, oil and gas and all the stuff. one percent may not seem like a big deal but that's a

have jumped in seoul, korea after the company is close to winning a $2.5 billion deal for its offshore lnged as much as to the highest since may 2. let's head to china, because fund managers are tightening risk controls, but putting more money into bank certificates of deposit rather than riskier corporate debt. what is going on here? depositertificates of are perceived to be less risky than corporate debt. we saw the corporate on the false tripling -- bond defaults tripling this year. there has been some excess cash and they have been going into the certificates of deposit. issuance has tripled from a year ago, selling 6.2 trillion yuan in the first half, more than all of last year. there was a new law coming out in february that money market funds were not allowed to buy corporate debt that was poorly rated below aa plus, but there is no restriction on cds. also, i want to give you some numbers that kind of tell you why banks have also been issuing more cds. three-month yields issued by aaa issuers have tumbled 44 basis points in 2016. the shanghai interbank rate is two point 88%, basica

police are lng suspects who committed this violent robbery against two workers at the accounting firm here. this happened 5:30 in the afternoon on roebling street. the accounting firm is known as y & i accounting. people in the area saw two men running out of the store. police found surveillance video of one of those men. he looks like he was wearing a uniform for a postal delivery service. the two suspects, both of them men, tied up a 19-year-old the 60-year-old man who was beaten up remains in the hospital. back to you. >> thank you very much. >>> final check of traffic? >> a whole bunch of issues. subway delays as well. we'll start with those. 1, 2, 5, "f" trains are delayed. on the roads, this a big mess. an accident southbound at exit 16 on the new england thruway that's causing delays a six-mile delay getting into this area. this is a spot southbound by exit 44 in the left lane. in new jersey, 287 northbound subject to closure after exit 57, skyline drive because of a vehicle fire. and then heading over to queens, we have an accident eastbound on the grand central parkway by the

there's some shipping names and lng and crude shipping that i think look incredibly cheap right now.of them trading at less than three times earnings. so those are the kind of places i would be looking for. i'd be looking for dividend yields more in the 3, 4, 5% range, but i think there's going to be a great run for yield now especially with the 10-year at 1.4. >> hasn't there already? i feel that's all anybody's done. >> well, but there's a lot of areas that you look at that haven't really moved that much yet. and if you go through a lot of stocks, you'll find significant yield still available. and i think there's going to be -- maybe the quality won't be quite as good, but i think you're going to see a move to yield big time in the next couple of months. >> charlie, stanley, black & decker and board warner are two names. by the way, didn't sound like you disagreed a whole lot with what steve was saying, but cherry pick within consumer discretionary. why these two particular names? >> well, that's the point. you can't generalize about consumer discretionary because you have names li

we're looking for them.e lng every now and then they appear. justms kind of like walked its way into the trailer. and there were couple of theseue guys who were with his companypy that lost them this morning. also, hearing second one kind of and just as the second one gote to the back of the trailer itilr took off and the one that hadt h gotten into the trailer took ofk and ran out of the trailer. so while you're looking at thist you live here what do you makeak of this? >> it's too funny.ny it's too funny.ny it's hilarious. >> but it happens. happe >> reporter: you say it's it' happened before.happened bef >> it's happened before.s ha the last one took off down north avenue as i was going to work tw bull was running up north avenua as i waiting for a traffic traff light. and so now they're in my my backyard. >> reporter: ma'am, you were we saying that it used to smell. sl you know the slaughter house isu there, right.ere,ight >> the smell is terrible. walking back and forth in the complex to the store every nowvn and then you get a bad stencht