i'm mariko oi. to our top story this morning — the australian mining giant, bhp, has scrapped its $49 billion offer to buy its british rival, anglo american. its decision came after anglo american rejected a request to extend a deal—making deadline. bhp had been particularly attracted to the uk mining giant's copper assets — which, thanks to its mines in south america — would have given a combined company control of roughly 10% of global supply. another sticking point was reaching an agreement on job security for more than 40,000 south african miners employed by anglo american. in a statement, bhp ceo mike henry said their proposal was the most effective structure to deliver value for anglo american shareholders. anglo had rejected bhp's previous offers, saying they undervalued the company and its prospects. speaking of deals, it's been a big week for consolidation in the energy sector. the latest development? conocophillips�*s acquisition of marathon 0il in a $22.5 billion deal. erin delmore has al

our asia business reporter mariko oi explains.f a common family name in japan, it is about private consumption which accounts for more than half of the economy, and that fell by 0.7% in the first three months of this year, much worse than expected, but if i honest i'm not surprised because 95% of the messages i received from my own mother who lives in tokyo is about how things are getting so much more expensive. inflation injapan is nothing compared to the rest of the world but of course japan had decades new inflation or even deflation with prices fallen, and authorities are desperate for prices to rise, but ordinary consumers just not are used to it and while wages have risen a bit after decades of new pay rises, wages have been falling for some two years, and of course the weakness of the japanese yen does not help because it makes imported products like oil more expensive, and that is why people have been tightening their purse strings. there are a lot of talks on the growing wealth gap because as we have been talking about th

joining me now from our asia business hub is our resident �*yen geek�*, mariko oi.r you. so, did the authorities intervene? are men, can ijust say, i am feeling the love. i did not have to ask, your producer asked me to talk about the ns0 i'm feeling very happy. again intervention is not something that would admit the lust sommer intervened it took them almost six months to confirm it. many traders think that they did and that is because they did and that is because the japanese yen strength and shoving to about 153 from 157 that it shoving to about 153 from 157 thatitis shoving to about 153 from 157 that it is now weakening once again. several days ago, across again. several days ago, across a 150 monks since 1997 maybe thatis a 150 monks since 1997 maybe that is a line in the sand. —— mark. the reason it has been weakening against the us dollar is a big difference in the cost of borrowing between the us and japan. ourviewers of borrowing between the us and japan. our viewers might remember that japan japan. our viewers might remember thatjapan and that it negative

i'm mariko oi. to our top story this morning — the australian mining giant bhp has scrapped its $49 billion offer to buy its british rival, anglo american. its decision came after anglo american rejected a request to extend a deal—making deadline. bhp had been particularly attracted to the uk mining giant's copper assets — which, thanks to its mines in south america — would have given a combined company control of roughly 10% of global supply. another sticking point was reaching an agreement on job security for more than 40,000 south african miners employed by anglo american. in a statement, bhp ceo mike henry said... anglo had rejected bhp's previous offers, saying they undervalued the company and its prospects. speaking of deals, it's been a big week for consolidation in the energy sector. the latest development? conocophillips�*s acquisition of marathon oil in a $22.5 billion deal. erin delmore has all the details and more on this rising trend. think about the early days of the pandemic. people a