that was following the nissan capital share purchase of mitsubishi and mitsubishi announced that then loss for the year. ¥270 billion loss for the year. so the financial priority was getting back on track. i will come back to that. the challenges following the scandal is something we have been working diligently on. we were disappointed as a company, so the reformation of our engineering practices has been overseen by the executive committee and the board. we keep a close eye on that, and in discussions with authorities in japan, so we are covering that. in addition, we are looking at the governance of the company come introducing a delegation of authority to make sure the understanding of what people can do, authorized to do, and to the extent they are authorized is controlled, and that is being monitored by our ceo. coo, i am responsible for turning around the financial aspect of the company. was a ¥30ear result billion lost. we put together a detailed plan for the second half and we recovered that, but beyond what we expected and made a ¥5 billion profit for the year, which is good

she just bought the mitsubishi a month ago. her neighbors spent the evening sweeping up the branches. when storms snap power lines, it can cause more than out ages, they set fires in glad win this afternoon and were too dangerous for firefighters to approach until the power was cut. homeowner joe had a similar incident. his roof was damaged and the street caught fire from live wires coming down. this was the 7900 block in northeast philadelphia. inspectors were on the scene to assess the aftermath. peco says there are 7900 customers without power, down from 32,000 at the peak. the majority in montgomery county and philadelphia. authorities will work through the night to restore power to everyone by morning. meanwhile, christie ileto has been following a difficult night on the septa rails. commuters vacated their trains and walked and in some cases ran down the tracks. this one example of a weather related breakdown. christie is live at the station in bryn mawr. christie? >> it was frustration on the line. some waited onboard fo

mitsubishi is debuting a new model here. all of those manufacturers are battling against a declining market. the air show is a platform for new novation. we've got everything rum fuel-efficient engines to the most luxurious cabin interiors. they unveiled a business-class suite earlier on, hoping that high luxury will attract customers despite the political issues facing the home base at the moment. we have drones being exhibited here. they can identify risks and increase security. we have a lab connecting startups to airlines, trying to boost creativity and get them into the skies. we can't forget the defense sector. they are responsible for the more spectacular flight exhibits we see. we've got the french and the american planes making debuts. they will be in the skies above paris this week. >> back here in paris, the president is going to have his work cut out for him. he has a clear mandate here it -- mandate. make france's job market more flexible by making it easier for companies to hire and fire. the aim is to bring un

mitsubishi motors may have to abandon one of its best-known models as it tries to recover from of fuelnomy scandal. the carmaker ceo said he plans to increase spending on r&d while considering whether to keep making the likes of the pajero suv. >> whether we continue with the model depends on whether there's is a market for such a vehicle. we need to decide if it's worth investing a huge amount of money in human resources to prioritize its development. >> that is the bloomberg business flash. manus: thank you very much, sophie. the pound is traded in jittery fashion. the prime minister theresa may's decision to skip last night debate. it was a televised debate. could it backfired on her as other party leaders lambasted her absent -- or absence, saying it's prove she's not fit to lead britain. >> she is taking you for granted . she won't turn up to these debates because her campaign of soundbites is falling apart. >> it's the most important election in her lifetime and then not even to be bothered to come and debate the issues at stake. >> weaken wobbly is where we are. the leadership t

is ecxpected to come from south korean chipmaker sk hynix inc and the core banking unit of the mitsubishihing to sell the unit to cover billions of dollars in cost overruns at its now—bankrupt westinghouse nuclear unit. this has been a real crisis point for toshiba. will it finally sort out the company? when concorde first took to the skies in 1969, it seemed to herald a new age of supersonic travel. it was sleek, elegant and outrageously futuristic. unfortunately it was also very noisy and very expensive. it was never a commercial success, and when it was retired in 2003, it seemed the supersonic age died with it. but perhaps not the american company boom supersonic, based in denver has big plans for a new supersonic jet. and it says it will have a demonstrator ready next year. we have been finding out more at the paris air show. we will be also looking through the newspapers and news site later in the programme and sally will be joining me with that. let's turn our attention to america. the bitterly—contested special election for a house of representatives seat in atlanta, georgia, has

mitsubishi ufj may eliminate 10,000 staff, 7% of the workforce over a decade and comes against the backgroundinterest rates and intensifying competition to squeeze profits. haidi: nike cutting 2% of its workforce is competition stiffens. the company had 70,000 at the end of 2016, suggesting it could affect 1400 workers. downtors sent the shares in the biggest intraday decline in almost a month. the bank of japan's not expecting, any change, but we are looking for hints as to when there on toing program may start stop. no change expected, but had to get out of this? >> we have to what is the target. there has been a change in terms of the target no longer about the quantity of buying, but 10-year jgb yields. we have to focus on this. rishaad: let's have a look at what is going on. does he need these targets? >> it is his mandate to create inflation. rishaad: is in chasing the target and so elusive as to making it look redundant almost? >> that is part of the reason why we have seen a shift away from specific targeted bond buying quantity which has led to running out of bonds to buy. #3059, let

when you start looking at smaller carmakers, be it mitsubishi motors, suzuki, subaru.s they were still looking at possibly increasing their provisions set aside for this. it does have a big impact on carmakers, that it won't really affect the bigger ones they have -- at the bigger ones. they have already set aside the money. shery: takata has listed more than $10 billion in liability. what will happen to that? dave: a lot of the money is basically going to be -- it is going to be sucked up by the companies that are owed. he will have to write those off. in addition to the high abilities related to the recalls we discussed, you also have lawsuits under way. you have personal injury lawsuits, class-action lawsuits related to personal injuries. there is a lot of money. entity,as a surviving will not have the money to pay those. it will be paying some sense -- cents on the dollar for those suits. thank you. coming up, hope for a quick end to brexit negotiations seem to be fading. details, next. this is bloomberg. ♪ ♪ assurancesesa may's on the rights of eu citizens have fa

sources say mitsubishi ufj planning to shrink its workforce by 10,000 over the next decade. this in tokyo. what is behind this? background it is the squeeze on profitability that banks have been facing over the past couple of years, negative interest rates over the past year have really dramatically reduced the margins. the obvious answer to that is, it is cutting costs. they have come up with a strategy called, re-measuring strategy looking to improve efficiency. also looking to streamline -- they're going to try to digitize more areas of the branches and try to cut down the number of people that they have on the floor in branches. once they have eliminated those jobs and moved people into more -- and byacing roles controlling the intake of staff, they're looking to shrink the entire workforce by that 10,000. betty: i'm really surprised here because japan has very strict labor laws, and they are going ahead with this debt reduction will be very big within japan. these banks must be really struggling. are making a profit at the moment. mitsubishi is the only of the three big

best and worst car brands, kia followed by porsche, ford, the worst new car brands, jaguar, volvo, mitsubishind land rover, they came to their findings based on problems experienced by owners in the first 90 days of ownership. rob: worst maintenance, thanks so much. 26 minutes after the hour donald trump raising questions for special counsel robert mueller's russia probe. >> should he recuse himself? >> he is very good friends with comey. >> ainsley ehrhardt's exclusive interview. heather: don't miss gavin live all morning long for the summer concert series. ♪ so when i need to book a hotel room, i want someone that makes it easy to find what i want. booking.com gets it. and with their price match, i know i'm getting the best price every time. now i can start relaxing even before the vacation begins. your summer vacation is very important. that's why booking.com has great offers up to 40% off now through july 4th. find great deals now at booking.com. booking.yeah! you totanobody's hurt, new car. but there will still be pain. it comes when your insurance company says they'll only pay three-qua

wasn't all that much for teens to do in little falls, so they would drive around town in the red mitsubishi. nick rebuilt himself. would you cruise down the main drag here? >> pretty much everywhere. >> just spending the day with no cares? >> yeah. >> they all spent the night together at a friend's apartment. on thanksgiving morning, nick and haile left around 11:00 a.m. >> they said they were going to go to my mom and dad's house. >> the plan was to meet later at grandma's house. but nick and haile never showed up. kimberly and rachel tried calling them. is it strange for nick not to answer his phone? >> absolutely. >> even if i called over and over again, he could have answered. and been like what do you want? >> strange for haile not to answer the phone? >> extremely. she would have never not answered my phone call. >> so where could they be on thanksgiving of all days? adding to their worry was the weather. it had started snowing. >> so i'm thinking, okay, the weather. maybe he got stranded somewhere. i was hoping that he was just staying overnight somewhere. >> in a safe place? >> yeah

the lowest ranking brands were fiat, jaguar, volvo, mitsubishi and land rover.rk) new technology at airports is making it faster to get through security. (james) it's called "clear"... and it uses your finger print or an eye scan to verify your identity when you scan your boarding pass. there are kiosks at 22 airports across the country... including s-f-o and san jose. you still have to go through the x-ray machine or metal detector... but it cuts down the time of showing your boarding pass and i-d or passport to a t-s-a agent. it costs 179-dollars a year for travelers to use the service. (mark) still ahead on the kron four morning news... as you plan your summer vacation... you might want to figure out how to pay for it. details on how many people go into debt just to get away. and our top story... triple digit heat again in the bay area. we'll tell you what you need to do to stay safe in the hot weather. . handballer 1: you know what i could go for? some scrambled eggs and pancakes. lilly: we got a craving! go, go, go!! crashing cravings in the crave van! jack

>>durante los Últimos 100 aÑos mitsubishi hha seguido su camino.mo tÚ y tan intelectual con esos lentes! raÚl:gracias. lourdes: gracias a todo este panel atenciÓn y nos vemos el sÁbado a las 5:00 p.m., 4:00 p.m. centro. los quiero. toda la gente, princesa? y más después de que cortaste con sebastián. montserrat: ¡no me importa lo que piensa la gente, mamá, no me importa! graciela: de veras, montserrat, de verdad contigo no se puede razonar. eres muy necia. ¿cuándo? ¿cuándo me vas a poder dar siquiera una sola vez en la vida el gusto, montserrat? montserrat: ¿complace m

unfortunately, the awful tortuous mitsubishi treatment our son received at the hands of the north koreansas possible beyond the sad one we experienced today laying the blame squarely at the north koreans for their son's loss and remember when you have that medical conference right after he was let out or last week, they seemed to suggest that his neurological ability would never be brought back. he had long-term permanent neurological loss. the kind of neurological loss that would not regenerate. that's what this family is saying, our thoughts and prayers and thanking everyone for thoughts and prayers being with them in this difficult time. >> it's worth noting his crime was taking down a poster. all you need to know about the heinousness. thanks so much for being with us. thank you to my panel. that does it for this hour of. i'm nicolle wallace. "mtp daily" starts with katy turren. >> advertise to see you. if it is monday even the president's legal team is trying to decipher his tweets. tonight, law and disorder. why the white house may actually not know whether the president is in fact,

softto have a regular taking at the level of the european mitsubishi how the negotiations go on.ld not speculate too much about the viewpoint or the list lukewarm reaction of proposal i theresa may last week because that was an information moment, not in negotiation moment. guy: nevertheless, the fact that we have had reports in the press that it was not a great reaction tells you that in some ways, the single approach of going through michelle party eight is not completely watertight. how clear is europe on the fact that it wants to negotiate just through the michelle bardier? at the moment, it feels like that. but i wonder in your view, how singular europe is in its voice. guest: you are very right thing go inet the the negotiation if you want to be realistic. we need to see when we start the negotiation, we were managed to keep this unity. there is danger in both because it ensures a smooth approach on our part of the negotiation, but of course it depends on the , on theof the u.k. land clarity to reach theresa may. we want to work. on ae speculating a lot hard brexit or a sof

they would also by mitsubishi's stakes in the ventures.should clear the proposal by the end of june. manus: finally, lease focus on the central bank. on federal reserve focused the central bank this week. the bank of england follows through with plans for the u.k.g, muddied by elections. the bank of japan is forecast to stand, and governor kuroda is how heressure to reveal will exit from negative rates. let's talk about one of the big items on the agenda this week. that is the federal reserve. treasuries have become unhinged from reality. they yields have nowhere to go but up. that is the view of a group of diehard on bears -- bond bears. chief global strategist at deutsche bank u.s. securities unit is training in. he says investors are ignoring higher wage pressures and bursting budget deficits, which will send the 10 year yield to 3.25% by the end of the year. that is his view. let's get the view from allen higgins. talking aboutnk, a 10 year yield of 3.25% by the end of the year. -- in a bloomberg story this morning, i real -- read that

mitsubishi motors may have to abandon one of its best-known models as it tries to recover scandal.elnomy speaking as closely to bloomberg, the carmakers ceo says he plans to increase spending on r&d well considering whether to keep making the likes of the pajero suv. >> whether we continue with the model depends on whether there is a market for such a vehicle. we need to decide if it is worth investing a huge amount of money and human resources to prioritize its development. sophie: apple has started manufacturing a competitor to echo and google home speakers. could see theer speaker later but it will not be ready to ship until later in the year. it will have virtual surround integration with apple's product lineup. that is your bloomberg business flash. matt: thank you. let's talk the u.s. and banking. we caught up with morgan stanley's ceo james gorman. we started by asking him about the strength of the world's largest economy. james: everybody is adopting a wait and see in that is part of the positive market and part of what explains the lack of activity. the administration came o

ining a look at some movers tokyo this morning, we have the mitsubishi, electric rising the most, andmbing the most in 50 months as department store up 5.4%. may jumped >> thank you so much. that's a look at the market. in the meantime, global defense asia's most for high-profile security .onference, australia's prime minister malcolm turnbull says the rule of law and the freedom of the remain critical. maintain and exercise our navigationeedom of throughout the region over the south china sea. and we repeat the calls that we've made and the solidarity shown with other nations in the region, including the ensure thats, to the rule of law is complied with, that no unilateral actions the south china sea, which would exacerbate that any and territorial disputes are resolved in accord with international laws. >> does it put australia in a situation, given how reliant we are economically and withegically when it comes our relationship with china? >> we have a very strong relationship with china, a very strong, rock-solid relationship with the united states. our wholeedrock of national secu

mitsubishi,course, the potential rates are open and will significantly impact oil prices.y are also speculating on a full-fledged confrontation. >> thank you so much. next, keeping calm and carrying on after saturday's attacks. london has to go back to work. this is bloomberg. ♪ i've spent my life planting a size-six, non-slip shoe into that door. on this side, i want my customers to relax and enjoy themselves. but these days it's phones before forks. they want wifi out here. but behind that door, i need a private connection for my business. wifi pro from comcast business. public wifi for your customers. private wifi for your business. strong and secure. good for a door. and a network. comcast business. built for security. built for business. so we need tablets installed... with the menu app ready to roll. in 12 weeks. yeah. ♪ ♪ the world of fast food is being changed by faster networks. ♪ ♪ data, applications, customer experience. ♪ ♪ which is why comcast business delivers consistent network performance and speed across all your locations. fast connections everywhere. tha

mitsubishi chief financial group.understand according to sources familiar with the matter they are considering that the group as a whole is considering shrinking its workforce by 10,000 positions over 10 years. this is because of low interest rates and intensifying competition squeezing profits. this would be a measure to counter some of the tough environment we see not only for them but the banks previously they seeked to eliminate some 3,500 full time roles. they seem to be deepening their reductions. now a check on your markets with mark barton. rk: core p.c., the preferred inflation gauge above 2%. that is combreenspan and bernanke and yellen. you can see with greenspan, yellen averaging 1.53 plowing on with her rate hike hoping that the strength of the labor market will previll over the recent week. inflation, 10-year torre yield. volatility in parts of the bond market is getting some investors taking it as a warning sign. falling to the lowest level since november. ahead of the b.o.e., this is u.k. c.p.i. inflat

i think the main thing, and mitsubishi should have done this for a while, talking about how to access, and how the timing is coming up. i was recommending that for a while. just to be clear, i'm not an internal advisor to the ecb. consult a while back. francine: we did have a little bit of an appreciation of the euro, especially the trade weighted basis compared to the dollar. we start to see growth and inflation in decline. the ecb will not be on uncontent with the inflation. in its regard, last week's ecb rating, where they put a damper on their inflation expectation for next period to one for 3%, that is a concern. .3%, that isod to 1 a concern. i think they will not be overly concerned with the euro's appreciation at this stage. if we saw a euro-dollar's and.ent francine: volker wieland was saying they were not worried uroh about ye depreciation. how should they view this inflation that is going nowhere? >> i think it depends on how you look at it. core inflation has been stable for a long time and the decline we saw in inflation, with the s, think inflation has been very behind.