he is the ceo and chairman of -- vichy revenue group mitsubishi group.ly talking about is how he believes so much in globalism still. it is an era where we see a pushing back on free trade in the u.k. and the u.s. under a trump administration, where we some broader and global concern about immigration and its impact, where we see people moving forward to more america first as we know it here, britain first in britain,and britain under brexit. that he is still ruthlessly and relentlessly still pushing against this and touting the merits of the global workspace, touting the merits of almost trickle-down in what is best for a global workforce, global companies, global business is still what is better for the world. that is a message that has largely lost a lot of its zing in this sort of populist it is really a fantastic profile \ it is really a fantastic profile, populist driven ideology. populist backlash. oliver: given his background that is so well described in the story you can see why he is a , critical global davos man whose reports of his demise hav

mitsubishi, ufj, the old name, mufg, actually, give us your take on their decision. inevitable.k to philip hammond. a few months ago there was the unusual statement of written being open for business. i did not know that we shot. —— shut. some are moving headquarters. this time it is amsterdam as opposed to dublin, canary wharf, where others are going to. it is inevitable. with that you will find otherjobs going... not wholesale... how damaging is this for the city? potentially very damaging. this is the biggest industry. but they say fewer than 100 jobs potentially moving. 0ut fewer than 100 jobs potentially moving. out of 2100. yes. but if the head office move somewhere, with decisions being made there, that is where investment will be. it is a creeping erosion. deutsche bank moved a load of assets last week. 0thers moved to dublin as well. it isa 0thers moved to dublin as well. it is a slow seeping away. is hq management goes, that his decision—making not being in london. -- if. the other interesting thing is amsterdam instead of dublin. they have caps on bonuses. interesting

now he is trying to do the same thing with mitsubishi, which his alliance acquired last year.right now at the very least, his career is as a sort of car czar, if you will. he has acquired the ability to sort of turn these businesses around. we are talking from a larger macro perspective, his persona and what he represents is very interesting. tell us about his image and what he represents. >> yeah, he is sort of the ultimate davos man. that is a term for those who show up for the davos conference each year, the post-national elite group of businessmen. he really represents that species in its purest form. he was born in brazil, not just in rio, in the amazon basin in a state called krondonia which was very remote. childhoodost of his in lebanon in beirut. his parents are of lebanese origin. he was educated in france. later became the first foreign ceo of a major japanese company, nissan. so he has this kind of reputation as somebody who crosses borders very easily. and he takes that unique ability to sort of blend into cultures and he has kind of adopted a philosophy where he

the alliance which includes mitsubishi, sold more than 5 million cars around the world from january toune. they beat out volkswagen which was followed by toyota. finally, what looks like a bad omen for the future of petrol. it comes from an unexpected source. he is probably the last person you would expect. but this is a man of surprises. come september he says he will trade is diesel car for an electric car. he told bloomberg this week that the electric auto industry is one of the only ways to keep global temperatures down. shell is bracing itself for a lower oil forever price environment by the end of the decade and will be shifting to natural gas and renewable energy. it could be spelling out the end of oil. can take public transport like you and me. thank you very much for that. time now for the press review. ♪ onset, good to see you. we are starting out here in france where the president has moved to nationalize france's biggest shipyard in the west of the country. >> that story is on the front page in several newspapers. thatewspaper reminds us this is temporary and comes after a

mitsubishi financial group is considering amsterdam and paris as a base for securities operation in theion after brexit. japan's is bank said it now down the candidates to those two cities but a final decision has not been reached. mobile banks are expending offices in the eu to maintain access to the markets before the u.k. formally leaves in 2019. that is your bloomberg business flash. manus: they convert much. the saudi led -- thank you very much. the saudi led alliance has reinstated 13 demands that must be met before the talks can result the crisis. yousef gamal el-din joins us now. you have been at qatar to start the crisis and covered it in great detail. what chart had he chosen and white? -- have you chosen and why? it boiled down the demands from 13 to six brought pencils. scratch that. now they have to meet all 13 of the original demand. bloomberg understands the -- met anti has meet impasse. inis having ramifications terms of how key institutions are doing is us. international banks are servicing qatar from new york and london instead of divided because of the nature of the c

manus: what better man to define , from the bank of tokyo mitsubishi. the two day meeting begins, to what extent, you sat down and said they have to send a clear message, alan sheet production has nothing to do with monetary policy. will they? guest: if you look at the rhetoric we have had from fomc officials they have said the same thing. it is going to start and relatively soon. we have seen the plan being laid out. all the information is there. the only thing missing is the date. there is a good chance they could indicate something like where going to start and start in september after august. feds loading up the balance sheet was an active monetary stimulus, how is reducing the fed's balance sheet not an active monetary tightening? guest: overtime you have to acknowledge there is an element stimulusry reversal of within us. the argument the fed is making is they are going to be going at such a slow pace that could be stopped at any moment in time. they want to try and separate us as something more technical rather than monetary policy. it is a good

there's a mitsubishi and acura, as well. home kind of on the corner of the street there adjacent to the building under construction an you see the flames did spread. it was on the roof of that house one point and firefighters are attacking those flames trying to make sure they keep the fire contained to just the building, the building under construction. this is on valdez street right off of broadway. busy part of oakland, very commercial part of oakland with all of the businesses nearby. we are just learning that evacuation orders have been issued in oakland. >> yeah. obviously you can see the crane there that was probably helping to build the building, as well. or to instruct the building, ishld say. but just kind of the frame building is really all that you can make out at this point. we have been talking about the winds in this ear area, as well. seem to be cooperating. i don't think there's a big threat. let's bring in meteorologist rob mayeda this morning with a good perspective of the humidity levels there and the win

an audi, mitsubishi, an acura. we have not received any reports that the flames have spread to those businesses. all that we have seen from what we have watched from nbc bay area sky ranger is the flames did spread to a house. likely an apartment building next door on the of the corner adjacent to the construction building. what you are seeing here is kind of a split screen in the box to the left-hand corner, that's how aggressive the flames were. at about 5:00 this morning, consuming that structure. >> right. getting the call of the fire, you know, was happening, we turned, we have the big cameras of far away and multiple parts of the bay area and you could see a ginormous glow out there this morning an that was earlier. sam mentioned but this is a more than an hour later. the largest you see in the center of the screen how that they have been able to tackle the fire. winds cooperating, as well. a fire itself can kind of like, you know, form a vortex within. want bring in meteorologist rob mayeda. you have a good

mitsubishi back in the black. pacific misting its estimates.s after he completed the acquisition of the 40% stake in new generation. this season impact in earnings for the first quarter of fiscal 2017. that is what we are watching. this is bloomberg. ♪ ♪ host: positive earnings and rising confidence push wall street to new highs. asia-pacific is expected to build on that. host: crude prices again about $40 in new york for the first time since june. u.s. inventories are said to have fallen sharply. the palace failing to capitalize on the casino recovery. host: and the bank of japan's new members say it is far too soon to discuss cutting stimulus. the bank is seen being years behind its global peers. host: this is the second hour of "daybreak asia." i'm yvonne man in hong kong. ramy: i'm ramy inocencio. a quick recap of what happened in the u.s.. pretty much green across the board. the dow hitting an intraday high, still about 100 points, mostly because of the earnings train. mcdonald's and caterpillar being the bellwether there, pushing stocks t

archers daniel midland, mitsubishi or mitsui, consistently operating cash flows. consistently negative since 2013. haidi: will it survive? you are talking about noble as a whale in the financial markets, it has become that. are we far away from bankruptcy? >> i think they are in a desperate situation. they still have some of these assets you mentioned, but those asset sales are in a desperate situation. they are having their faces ripped off -- haidi: they are driving a hard bargain. david: exactly. a deal toannounced sell their north american gas and power business. it is being sold debt-free at a discount to the value of the working capital, roughly 20%. that is a large-scale version of invoice factoring, something desperate businesses do, selling receivables at a discount to raise cash. that you often see and businesses skirting close to bankruptcy. if they are lucky, they will survive and get out, but it is a narrow path. haidi: we continue to watch the story. thank you so much for that. almost 50%s plunging yesterday on the back of that profit loss warning. c

tasteers got there first of autopilot back in the 1990's when toyota, and mitsubishi began developingrol as the sensors and costs have funds, autonomous technology can be found. here is the argument along with the regulatory challenge of they are turning over decisioning to robots. automakers have yet to design a whichat cannot be hacked, obviously raises concerns over security. u.s. regulators and others of drivers will -- driverless cars sincesave driver error driver air is named in 94% of crashes. you can learn more about self driving cars on the bloomberg. mark: let's stick with technology. of the bit surging costs spell trouble in spite of strong revenue growth. fallingf the tech giant and it raised concerns about rising costs of expanding its advertising business. for more, let's bring in bloomberg editor cory johnson. how worried should we be about this trend of a rising costs as it spends more on advertising is this? cory: i don't want you to worry. there is nothing to worry about because of business is going fantastically. it is also changing. if you look at the revenues and

waiting on earnings from sony, honda, and mitsubishi. asx futures looking flat, as well.will again be in focus. we saw another big surge for iron ore overnight. we saw strong chinese manufacturing data on monday. futures for iron ore in delhi were up. it has been propelling the aussie dollar elan strongly. commentaryt of the from the reserve banks cash rate decision today. the cash rate except it -- expected to stay on hold, but the dollar has been creeping up so we might see job owning from the governor. elsewhere, we are waiting on south korea july cpi that is expected to through -- show strength. china's ties shin manufacturing lee will be back in the courtroom in south korea. ♪ emily: welcome back. now to snapchat. snap chairs feeling the pressure. parent company of snapchat dropped 1% after a roller coaster day of trading. shareholders got their first opportunity to sell since the march initial public offering. joining us for more is sarah, who covers snapchat. we have a chart that shows trading volume, 49 million shares of snap traded today compared to an average of

now mitsubishi will bay $39 a share, to the friday closing price.hey started clinical trials for parkinson's disease that could launch in 2019 neuroderm shares up. >>> the company reports a drop in second quarter sales after cyber attack disrupted it. 2% target for sales growth will be challenging talking about this company a lot. shares down about 1% in early trading. >>> still to come, details of favoritism scandal taking a toll on his approval rating. >>> check out early action in europe report of potential probe of german automakers. we will explain that you're wchg orwi chge."atin"wldde what's critical thinking like? a basketball costs $14. what's team spirit worth? (cheers) what's it worth to talk to your mom? what's the value of a walk in the woods? the value of capital is to create, not just wealth, but things that matter. morgan stanley yeah, and i can watch thee bgame with directv now.? oh, sorry, most broadcast and sports channels aren't included. and you can only stream on two devices at once. this is fun, we're having fun. yeah, we are.

so mitsubishi is right there, oakland kia literally adjacent to it, hertz is there. >> i would not be anywhere near this if i were you. they are evacuating the immediate area, we're told. it does look like it's a lot of commercial businesses that are around there. most of those places would not be open to the public at this point. it's unclear to us how many residential units are immediately surrounding the area, but this is clearly a dangerous situation. amy hollyfield has now made it near the location. amy, what are you seeing from your vantage point? >> hi, reggie. a lot of what i want to tell you about is what i'm feeling. so much heat. hits your face right when you get here. we are keeping a safe distance. we're standing at 27th and harrison. watching this from afar because as you mentioned, that crane looks scary. you can see it spinning from the heat of the fire and that is a huge concern along with obviously the fire that is burning here. in fact, we just saw some police tape seconds ago go up across the street from us. so it looks like they're trying to get

it is owned by three large corporations also mitsubishi, ge, and credit squeeze.t would those three large multinationals be interested in this plant, medium-sized plant come although devastating? what they're basically interested, it is the precursor -- if thislar plants plant is built gets online, there is no justification for not building more of these. if you want to see the buildup of the hydrocracking infrastructure -- john amy: what did you do? >> we came up with an idea to train ourselves together. we change ourselves together with icicle locks and we blocked the entrance to the entrance of the plant, according to the prosecution, about 27 minutes. the judge in the prosecution seem to imply it made absolutely no difference to what happened with this plant. it does make a difference. what we're trying to get out is the message this is one instance, but it is happening all around this country and all around the world. they're fighting it in england and all over the world. can you talk about with this plant is, how you were involved in the protests, what this

. >> and a mitsubishi.rom what i can tell it doesn't look like they're in any sort of immediate, they're notifiesing an immediate threat. it looks like they're far enough away that i wouldn't be concerned about those structures but there are buildings, apartment buildings, this condo tower here cross the street that would be of concern. >> right. that's what i want today give people an idea of -- wanted to giver people an idea of where it was. we're looking at the shot the condo development. is that the building, it is very close with the embers and fire. is that building, are they being completely i having waited at this time. >>> that's what it sound like from people coming out of the building. i had a few people coming out, people in bath robes who were woken up by this and grabbed whatever they could and got out of building. people walking out saying they were told to get out. >> some people woke up and saw what was going on and thought i should get out of this building just in case. that's a good thing

cars longer enough to remember there was one rapid charger in the country behind the gates of mitsubishi'sears there will be millions. there will need to be millions. there will need to be millions to have this realise. there needs to be far less than you would expect. i thought i would use charging two or three times a day but i use it 20, 30 times a year. i can charge my car at home. many cannot do that that there is about 60% of uk households who have somewhere off the street to park a car. it does not have to be in a garage, which is a high percentage. it makes it easier. every morning i wa ke it makes it easier. every morning i wake up and my car is full. i do not have to use public charging often. we are used to you have to go to a garage to get fuel. with an electric car, you don't, you charge it at home. on full charge, how far can you go? i have two electric cars, $1 100 miles if you aren't careful, realistically more like 80, and i have one that does 250 miles, if you are not careful, and i have driven to italy and sweden in it easily. the tesla is an expensive car and my financi

there are car dealershippers, big well known, mitsubishi and aldi, and i would imagine there's a lot of surveillance cameras in the area. >> in an area like this in heart of downtown oakland you can imagine a lot of buildings potentially even this building and others nearby do have surveillance cameras, that's going be obviously part of the long-term investigation, and there should be plenty of video to industry to pull from the scene if you can spot somebody in this area around the time this four started in morning but again it was very interesting he said their motion detectors did pick up activity at about 4:45 or so this morning and obviously, shortly after that is when this fire broke out. but, that is just some of the information we're learning. we don't have any word from the oakland fire department about any possibility of any suspicious activity prior to this fire. that's part of the long-term investigation. but, again, this building was set to be market rate housing and according to gentlemen i spoke with it was schedule today be completed this coming february, so february

you looking at comments coming through from mitsubishi, over $39. to acquire narrow u -- for $39 -- ner neuroderm. keep an eye on that story in those sectors. let's have a look at where we are on the futures. this is what the picture looks like a cross equity markets right now. next to say the least. what is going to be the first trading day of the incredibly busy week. all kinds of events on the calendar, $78 trillion as we watch from a host of businesses. amazon, facebook, m&a clearly a big focus. --subishi, buying also, creditector suisse, deutsche bank, ubs, etc.. also in the oil sector, plenty reporting. on the risk radar you can see where we are on the level traded story overnight. watch out for earnings this week. the decision looms in the middle of the week. assets, they call for watching for testimonies that could be interesting. jared kushner is going to be in front of the intelligence committee today. trump jr. in front of the committee on russia in the election and that happens on wednesday. a lust to look forward to in terms of event ri

he is on the honor board committee at bank of tokyo mitsubishi, many years in the banking system.stands on monetary policy or on the question of negative rates, but since he has in and the banking system, maybe he is one that if he comes up again, it should be too costly and a policy we have move away from. >> more from you out of tokyo pretty soon. and the implications for markets next. ed rogers has huge by signals for japanese stocks. banks maytralia's big need to step up their games. they should be live in sydney on that. this is bloomberg. ♪ ♪ betty: good morning, this is daybreak asia. i'm betty liu in new york. yvonne: i'm in hong kong where the boj begins its policy meeting which has week inflation , still a key focus. get to the global economics and policy editor in tokyo for the meeting this week. no change in policy expected that it will be about the inflation forecast and they are still twice as optimistic as some of the estimates out there right now. when will they see the targets be brought down? >> that is the $64 million question, yvonne. some people say they won't

ufj of tokyo, mitsubishi, economist chris rupkey joined us in studio.r notes seemed underwhelmed. you said they just changed three little words. it is true. they suggested this year. are have confirmed they going to start doing the balance sheet unwind even at a time when a lot of people are looking askance at inflation and saying, you're making a move that can make a difference. and inflation is getting weaker. chris: even someone in that dovish camp with concern they are not meeting their inflation objective like lael brainard, she is on -- she is comfortable with the unwind. do they need to keep raising rates as aggressively three times a year, if that is aggressive. do they need to continue with the rate hikes because it is not at 2%? do not forget, the unwind is something running silently in the background. but we do not know. kathleen: our bloomberg intelligence team had a very important point this week about why they want to do that now. if they start unwinding the balance sheet, $4.5 trillion when there is doubt about the momentum, it underscore

we do have mitsubishi motors due to announce results today. we will check on reaction to sk hynix. profit coming in at $2.7 billion. that is a brief look at what we'll be watching at when trading gets underway. plenty ahead when it comes to ers indrivers for trad asia to keep an eye on. this is bloomberg. ♪ pacific -- yvonne: asia markets headed for a quick start. ramy: oil producers leave longer supplied curbs on the table as saudi arabia agrees to cut exports even for the next month. yvonne: investing billions in the u.s. states across the country are jostling for position. ramy: donald trump's son-in-law confirms meetings with russian officials but insist he did nothing wrong. yvonne: this is the second hour of "daybreak asia." it is just after 8:00 a.m. in hong kong. ramy: it is just past 8:00 p.m. here in new york. looking at the u.s. markets, you're talking about how asian markets look set to have a mixed picture. we had a mixed picture here in the u.s. a third of a percent. interesting to see this turnaround. people are on the edge of their seat as we wait for the earnings l

it is now counting sales from its newest member, mitsubishi. increase in net incomes, profits in brazil, biggest contributor to earnings,. banco popular are was took over in june after shares were wiped out. ceo is on theic short list of candidates set to run uber. enterprises,rd they say there is a lot of work to do at hp. that is your bloomberg business flash. i'm usually not big on the ceo gossip train. how do you run mega sized companies like mrs. whitman does and bring it down to the entrepreneurial level of uber. fascinating. i will suggest that we will see more names. mrs. whitman stepped out last night. she will not move to uber. she made that clear. nejra: especially fascinating because a lot of controversy with uber about the culture of the company and how much that was down to the previous ceo. and how much a new ceo would make a shift in the culture. u.s. futures lower meanwhile after disappointing results. we have just been talking about heightened concern about corporate earnings and amazon. it says it is boosting spending on new

citing strength in its largest brands and neuroderm is being bought by mitsubishi for $1.1 billion ind in israel has a parkinson's disease treatment that's begun clinical trials in the u.s. and europe. >>> a pokemon go event went very, very wrong this weekend and fans are not happy thousands of people arrived in chicago to catch an extremely rare pokemon but the game's first live event had server and networking issues. people waited in line for hours in the rain to get inside. when the servers crashed, made the game unplayable for most of the day. the unhappy players booed the ceo when he took the stage, who later apologized, offered refunds and pokemon coins. nyontik and nintendo developed the pokemon go app together. shares down more than 2.5% this morning. >> cooled down $1,000. not that much, though. >> in yep? >> all right >> in yen. >> 37,000. down >> yeah. >> all right the trump administration unveiling plans for nasa with less than a month to go before renegotiating. joining us ambassador robert holleyman. ambassador, can they walk this tight rope, do you think in terms of --

if we look at these cars, mitsubishi, kia, these are international cars. the battery and drivetrain technology. you may have noticed yesterday the government really happy to secure the mini built in britain. disappointment that we have not been aortic litigator battery and the production here as well. —— have not been able to get the battery. we know that this is the future. you may have said that the deadline focuses minds as consumers in starting to think about driving these. electric only cars account for 1% of all purchases. around 496 for 196 of all purchases. around 496 in total. it is not a lot. it is getting us thinking about buying these things. and manufacturers making sure these cars are comparable with what we have today. exactly. if you go back at couple of yea rs exactly. if you go back at couple of years you considered an electric vehicle if you are an environmentalist. now it is a family conversation everywhere. we are not quite there. there isn't enough charging technology. people are worried about range. i am sure that with investment at