the chairman of mitsubishi heavy industries led the efforts, taking on the chairman of mitsubishi motors. the fuel economy scandal is expected to have a serious financial impact on the carmaker and isakingeople ain wonder if they can trust cars bearing the symbol of the mitsubishi group, three red diamonds. nhk world. >>> toshiba executives have been trying to turn around their finances after an accounting scandal came to light. now the company has announced that it will book an impairment loss of billions of dollars on its u.s. nuclear subsidiary, westinghouse. chief executive says toshiba is expected to book an impairment charge of $2.3 billion for march. it's thought it will shrink from the initial estimate of $6.4 billion to about $4.2 billion due to profits from selling the firm's subsidiary, toshiba medical systems. the company aims to receive orders for 45 nuclear powerplants in emerging economies by physical 2030. officials say they expect to produce profits through the militan maintenance of nuclear power plants. >>> many investors stayed on the sidelines as central banks in jap

the focus on thursday was mitsubishi motors. many investors put in sell orders after news of the data manipulation. at the close it fell more than 20%. the daily loss limit. suppliers to mitsubishi motors also suffered. one parts maker was down 9% and a car battery maker dropped 1.5%. despite the fall from mitsubishi motors overall sentiment was positive. the energy sector among the winners. oil and gas winner inpex posted a gain of more than 5%. others were also up. the focus turns to european central banks policy meeting. investors are carefully watching how market investors react to the outcome. >> thank you very much. >>> moving to other markets in the asia-pacific region. let's move to china. shanghai composite declining by .7%. 2952 the closing number, a three-week low. financial and real estate shares sank. erasing gains in the energy sector. moving on to taiwan's tiex gaining by .6%. 8568 the closing number snapping three days of losses. tech stocks led the gains after data showed electronics export orders rose in march

shares of mitsubishi motors continue to fall. the carmaker has now lost more than half its market value since its fuel efficiency manipulations came to light last week. and leading the gates was ihi corporation which climbed 4.3% following a report it plans to build a jet engine facility in japan, the first in the country for two decades. the focus is now on how asian markets react to the outcome of policy meetings at the federal reserve and the bank of japan on thursday. giang nguyen from the tokyo stock exchange. >> thanks very much for that report. >>> many other asian boards ended lower. shanghai down at 2,953. data for march shows profits for manufacturers up 11% from a year earlier. investors appeared unmoved by the news. australia's s&p 200 declining by .6%. 5,187 the closing number. consumer prices in the first quarter fell unexpectedly. that result dragged down the australian dollar and weighed on share prices. hong kong's hang seng declines by .2%. indonesia bucking the trend, .7% for the gains there. its first gain in

mitsubishi motors losing 40% of its market value in two days, shares plunging for a third day becausethe fuel economy cheating scandal. let's find out what's going on. mitsubishi shares are nosediving today after finally starting to trade. not tradedas yesterday because nobody wanted to buy, while everyone else wanted to sell. instead, the tokyo stock exchange had to set a closing price, a 20% drop from wednesday, when it already lost 15%. has now erased more than 40% of its value since the scandal broke, and is worth $4.5 billion. mitsubishi admitted to cheating japan by0 minicars in understating how much air and tire resistance they encounter on the road, but now we are hearing from a local newspaper that this issue may include more mitsubishi models, that is on top of the models we already know about. japan's transport ministry said it is continuing its investigation of mitsubishi and will inspect its plants today as well. authorities have said that mitsubishi should consider buying back affected cars. the government is also reportedly considering changing its field economy tests f

the focus today will still remain on mitsubishi motors. at the close on thursday it fell more than 20%. it's daily limit and also switching to oil prices. earnings have a bit of bearing after alphabet that runs and owns google as well as microsoft's earnings came this weaker than markets expected. >> tell us about currencies. how did the euro react to what came out of the the ecb. >> it jumped against the dollar after the ecb announced the decision of no change in policy. it soon fell after ecb president hinted about the possibility to eventually increase its stimulus measures if necessary. since then it's fallen to the 107 yen levels earlier in april. a look at markets open elsewhere. seoul's kospi is trading in the negative. how it affects japanese shares and shares of mitsubishi motors and the related sectors to the auto industry. back to you. >> thanks. we'll talk to you in a few hours time. >> business owners all over japan are feeling the effects of the aging society. nowhere more so than in the country side. some are looking for the

all were manufactured in japan after june 2013. >> mitsubishi motors president said people at nissan noticed problems between the test data and fuel efficiency. the numbers were 5 to 10% worse than what mitsubishi submitted to the government. >> translator: i believe the data was intentionally falsified to show favorable results. i'm not sure of the reasons behind the misconduct. >> he added the official in charge of the test at the time has admitted the wrong doing. he said the company will consider recompensing fuel costs to customers. the executives disclosed that other models of the japanese market were tested in ways that differed from government regulations but they don't know which models and how many vehicles are affected. officials say they will set up an outside panel of experts to look into the manner and release the findings soon possible. the automaker fell into a crisis after defects came to light in 2000. they started inspections at the technical center in central japan as par of the its probe into the latest data rigging. the scandal is drawing a lot of attention from

japan's mitsubishi motors admits it falsified test data for 600,000 vehicles. >>> japan's nuclear regulators give the go ahead to extend the life span of two aging reactors throw the operator says it will be years before they come back online. >>> rescuers continue to scour a village in a mountainous part of southwestern japan even as people brace for more jolts. authorities say the death toll from last week's earthquakes in kumamoto rising to 48. they're digging through piles of dirt in a bid to find three people who are still missing. and they say the number of those with injuries exceeds 1,000. >> officials with the meteorologist logical agency are warning people in the area to stay alert. >> reporter: the seismic activity is continuing. >> the chief seismologist forecasts heavy rain for thursday and says that means there could be more landslides. more than 100,000 people are taking refuge in cars and other temporary shelters. >> translator: i'm freezing. it was really cold during the night. >> translator: i have been sleeping outside because my dog is not allowed inside. >> some services

coming up, mitsubishi motors may need help after manipulating field economy tests.on the latest scandal with an auto consultant in about half an hour. up next, ig says it is not pricing in a fed rate hike until next year. we get the view from its market strategist. this is "trending business". ♪ rishaad: our next guest has the federal reserve tightening next year. he is market strategist with ig and joins us from melbourne. what is the thinking here? >> we continue to watch the market price closely with regards to how fed funds are moving. dot plots do not think so. the only one showing a sign of rate rise is 83%, but that has some other events that could affect it. they still have not seen any form of inflation. employment is reasonable, but there is the presidential election and issues in europe. that question rings true in the u.s., is china doing ok? are issues to calm in the northern hemisphere in the summer season. it's also interesting to watch what is going on in the u.s. earnings season. yes, at the moment, down quarter on quarter and year on year, but beat

nejra: earlier this hour, mitsubishi motors admitted to manipulating test data involving 625,000 vehiclesr to improve fuel economy claims. the affected models includes -- the two companies are discussing compensation and mitsubishi is checking whether it is being affected by overseas models. earlier, shares closed more than 15% lower, the biggest drop since july, 2004. europe's largest semiconductor quitman maker, asml, has forecast sales that top protections as they ramp up in new machinery. the dutch company sees second-quarter revenue of about 1.7 billion euros. analysts had estimated 1.6 5 billion. asml shares are among the biggest gainers on the european stocks 50. there are signs of progress in yahoos turnaround plan; sales beat estimates, topping expectations by 1.5%. the investors are turning their focus on the sale process. people familiar with the matter wererivate equity firms among the first round of bidders for the company's core internet business. answer bloomberg business flash. francine: thank you. mitsubishi motors has admitted to manipulating test data in order to improv

mitsubishi motors does have some technologies that probably will survive.s electric vehicle was among the first to be massed produced. that has been well recognized as a viable technology. company'sith the hybrids. those have done pretty well, so there is some speculation that there could be buyers for that technology, if not the company itself. within japan, it is hard to see one of the bigger carmakers taking them in, but there is some speculation that there could be a buyer from china or india looking to get a start in the car market. it's a be she has a strong business in southeast asia. we have to leave it there. shery: coming up next, inflation expect haitians. we have the numbers out of australia win "trending business" returns. ♪ shery: these are the top stories trending. donald trump harrows one a clean sweep. it bolsters his chance of securing the republican nomination before the party's convention in july. hillary clinton won four states, pennsylvania, maryland, connecticut, and delaware. bernie sanders one rhode island, but has vowed to stay in

genie: let us turn now to mitsubishi motors next with a new emission scandal. stephen: the japanese carmaker says it falsified test results to make omissions appear lower than they are. this affects 625,000 cars. mitsubishi motors president says it will stop making and selling the affected models. it wiped $1.2 billion off of the carmaker's value. the shares dumped more than 50%. genie: massive job cuts at intel. isphen: the chip maker cutting 11% of its global workforce as it reorganizes its business to confront the decline in sales and personal computers. they are trying to expand into other kinds of technology like where bell technology and drones. the news is coming as intel reported lower-than-expected sales for the first quarter of the year. genie: another tech happy having a bad day is yahoo!. losten: the internet firm $99 million in the first three months of the year compared to profits of more than 20 million last year. revenue fell by him as 12%. the figures come as yahoo! is examining buyout offers sports court -- for its core internet business. repo

let's talk a out this stunning announcement this morning from mitsubishi motors. the japanese automaker after an internal investigation revealed that it ha been fudging fuel ecy onomy data for the last 25 years. it means roughly 600,000 of the many cars it produced over that efficient as advertised. the internal investigation continues. it is possible that more irregularities could be revealed. some are questioning the viability of mitsubishi motors in the future. >>> later today, companies like ebay and twitter will be releasing the latest earnings report, but nobody will be more important than apple's report. in fact, the expectation is that the company will report it first decline in revenue s in 13 ye has and you can blame slowing iphone sales for that. apple has been criticized for a lack of innovation lately. its most recent new product, the apple watch, is not exactly a hit. and the stock has suffered as a result, that stock has fallen from a high of $130 a share last summer to roughly $100 today. that report will be out at 4:00 this afternoon. and we'll se

and we've seen the market value of mitsubishi motor plummet since that point in time. but that will be a big focus. sony also due out on friday, and of course it's already said that it's going to delay its profit outlook until may, and that's really because it's still assessing the effects from the earthquakes in southwestern japan. a quick look at other asian indeces which are up and run being right now. and i'm talking about the kospi and australia's s&p/asx. australia is up just a tenth of a percent. china opens in an hour and a half. very interesting to see what happens with the shanghai composite and the hangseng. that's it for me. >> ramin mellegard from the tokyo stock exchange. >>> women in japan face formidable barriers in the workplace. more than 60% quit their jobs after giving birth. and the percentage of female managers in japan is much lower than in other nations. now business leaders are beginning to realize something needs to change. this month, a law took effect with the goal of increasing the employment of women. in this three-part series we look at w

mitsubishi motors have not traded, after admitting they had manipulated fuel tests on many cars. ere some kind of tie in with the vw scandal? any similarities in the stories? tom: mitsubishi is more run-of-the-mill. you actually had engineers intervening in the testing and the data provisions. it is a standard either cover up, or someone falsifying numbers. presumably, from what they describe. the volkswagen scandal is quite different, because there, the themselves automatically manipulative things. the software was manipulated. and that brings into question standards for testing, and also whether there should be something in addition to laboratory tests. laboratory tests were supposed ofhelp provide a way escaping manipulation. but apparently, this is not the case. manus: tom, wrapping up the latest on the auto scandals around the world. alan higgins, when i walked in this morning, we were putting a bitow together -- i more clearly than anna. bonds,s a lot about companies in distress. not for equity traders. the poker hands ready to go? alan: we looked at volkswagen stock, it has

cheatingwith the scandal at mitsubishi motors. >> investigators have raided the offices of mitsubishifter the admitted to submitting allstate on how much you'll their cars use. the scandals have wiped billions of dollars off the company's value. had to bes -- sustained -- had to be suspended. >> moving in a mitsubishi, investigators arrived at the assembly plant in japan to collect evidence about false i've will economy data on at least 600,000 cars. >> based on the finding from the raid and internal reports from the company, we would like to reveal the extent of the inaccuracies as soon as possible. we will deal with the situation in a straight manner and would like to ensure car safety. >> the company's president admitted wrongdoing and apologize for the misconduct on wednesday, saying tests show cars were using up to 10% more fuel than data submitted to regulators. strict,ed to apply global standards, just as most like in got slapped with very severe sanctions, mitsubishi motors needs to face tough measures so we can be sure the company will change. >> mitsubishi has struggled to r

and the worst performer on the market today was mitsubishi motors. it fullum 10% as fell almost 10%. the market previously thought it was 2002 as a result the scandal worsened and we saw shares tanking. also shares in toshiba as well. after much refusal they also booked an impairment charge. shanghai comp up. hang seng up as well. losses for some other stuff. and indeed -- we're also tracking losses on the asx 200. and in australia we've also had a major defense announcement as well. japan losing out to france in the race to win the billion u.s. contract to build australia's next fleet of 12 submarines. we saw shares in japan's major defense contractors. mitsubishi heavies and kawasaki heavy industries both down. >> and tisson group shares driving. the the project was awarded to the french firm. australia's prime minister called the decision a momentous national endeavor. >>> elsewhere bp shares catching a bit after first quarter underlying replacement cost profit. a huge beat on analyst expectations for a loss of $130 million. the company ceo dudley

david: mitsubishi motors acknowledged that this improper testing issue was found today back as far ass ago. he said the issue was found in 1991, 19 92, 2001, and 2007. the company can determine at the moment if this problem actually spreads beyond many cars. the company also naming three former prosecutors to a panel that will be investigating the issue further which it says may actually take about three months. onnwhile, shares fell 9% tuesday, taking the carmakers half, cap around this time last week. bloomberg, hong kong. >> closer to home, stocks are just holding on to earlier gains. the stoxx 600 was three quarters 1% higher, boosted by earnings. small gains in london, small declines in germany and france. have a look at the industry groups on the stoxx 600 today. it is worth noting investors have pulled money from the region stock funds for 11 straight weeks. that is the longest stretch in six years. banks are up. interesting thing going on in the currency market today. the pound is at its highest against the dollar since january. rebounding 5% since that seven-year low on febru

mitsubishi motors struggled for years to win back consumer trust after an auto defect scandal in 2000 with failing brakes and fuel tanks falling off. >>> the alexandria chamber of commerce gave out its annual valor awards to first responders today. the awards went to deputies, police officers, firefighters, and medics for their life-saving actions on and off duty. >>> a prestigious honor for lester holt. >> the national association black journalists recognized him as journalist of the year. holt became the first black solo anchor in a flagship newscast of a major american tv network. >>> i'm mark segraves. this land was once owned by george washington. it was a farm he had after he retired from the military. these veterans are still working this land. they're here as part of a program that's training vets in a new skill. they're learning how to be farmers. >> oh, this is awesome. you get to work with other veterans, working on land that was developed and first put into production by a veteran, george washington. >> reporter: there's a problem. they don't have all the equipment and too

fuel efficiency scandal and mitsubishi motors is in the headlines again.sed a test of that does not comply with standards on 27 models that would amount to 2 million vehicles. it to be she motors admits data,lating consumption but said it only covers 600,000 cars in japan. the s&p as putting the long-term credit rating on negative watch. powered by over 2400 journalists and 150 bureaus around the world, this is bloomberg news. australiaith asia and and new zealand are closed for anzac. here is haidi. quietert is a little with the absence of australia and new zealand. day forcommemorate the anzac. this is how we closed on friday. indexia-pacific really retreating, still, a third straight weekly gain for the regional index. some late we saw stages surging in the nikkei 225 of why 1.2%. -- up by 1.2%. japanese lenders have been badly hit and will continue going down by the negative rates program. ,nd chinese shares reversing ending in the green. we had the biggest weekly loss in shanghai analyst for months down 4%. dimming expectations similar from the pboc a

. >> in 2000, the government has spot inspection at mitsubishi motors. investigators found that the company had cover up more than 10,000 customer complaints. this is the first time i've heard about the cover ups. two years later it came up at mitsubishi near tokyo. he struck and kill add woman and injured her two children. it hit the defect and issuing recall in 2004. former company officials, including the vice president at the time, were arrested and indicted of falsifying papers to the authorities. two were found guilty of professional negligence. >> translator: we instructed the company to review the recall system and draw up corrective measures immediately. >> reporter: after the second recall cover up, the then chairman said the company was returning to fundamentals and making them the top pry y making safety top prioritieprio >> translator: we think this is the last chance for us to stay in business as an automaker. they provide funds to help them improve the final days and show commit m to helping rebuild its management. the chairman said rebuild

. >> in the course of our internal investigation, mitsubishi motors learned of the improper conduct thatad been used and it provided more advantaged to fuel consumption rate than the actual rate. marcus: let's talk you through some other stories we have been keeping an ion for you. russia has won a legal victory. eight dutch court has overturned and order for them to pay $54 billion for the compensation was awarded in 2018. say they willr continue their fight against moscow. if french tire maker has received boarded -- has reported a stronger-than-expected quarter. rising car sales in europe boosted michelin's topline and made up for weakness in other regions. the company expects drunker growth and the rest of the market and is sticking to its forecast. the french president has had a meeting with the state own power company. project has sparked criticism from within that it is to costly and risky. that has sparked concern that the construction of the reactors will not go ahead. finally, we finish with this story -- abolitionist. tubman is about to become the first woman to appear on a u.

melissa: we look now to mitsubishi motors, which has failed field tests. that it it has reported is reporting full consumption data for some of its cars. some 600,000 vehicles, now mitsubishi says the rating dates back to 1991, which means the number would be much higher. shares in the company plummeted a further 10% on the news. it is a scandal. >> i sincerely apologize to our customers. who purchased our cars based on the wrong fuel mileage data. i have no word. i am sorry. stephen: the german airline left anza has canceled almost 100 flights because of the strike by air stored that by airport staff. by airporttrike staff. it is part of a pay dispute. bp has seen underlying profits slump by 80% in the first three months of the year, largely due to oil prices. it is at the third lowest level in 12 years on the brett crude -- on the brent crude index in january. they are the first of several major oil companies reporting this week. melissa: pershing is associated with chocolate, but that might be about to change. is associated with chocolate, but that might

shares of mitsubishi motors plummeted after the company admitted to lying about the feel consumption of their engines last week. mitsubishi has been understating the numbers for decades. now orders have also tumbled. the scandal could turn into an economic and public disaster for mitsubishi. >> lies and manipulation have tarnished the reputation of one of japan's largest employers. mitsubishi falsified fuel consumption for some 600,000 vehicles. residents of tokyo express their dismay. >> i believe that this is something that should not happen. i really don't want to drive or by their cars. everyone i know once their money back. >> i am lost for words. i can only say that i am disappointed. >> the scandal continues to grow as more details come to light. last week, mitsubishi executives admitted lying about fuel efficiency, and on tuesday, they say they had manipulated data for the last 25 years. now orders have tumbled. business law professor said this can a remained a secret for so long because of traditional japanese corporate culture. >> having permanent employment and with your bo

officials from mitsubishi motors will suspend production until tuesday. sony closed its image sensor factory after thursday's quake. they supply a lot of smart phone senators. mitsubishi electric stops producing. major oil producing nations have been meeting to discuss how to control crude output. they haven't been able to agree. oil ministers from 18 states, including saudi arabia and russia, gathered. they were aiming to agree to a freeze on current production levels due to concerns about an oversupply. talks fell apart. they will need more time. discussions will continue until the next opec meeting in june. iran's oil minister did not attend. countries continue to boost production after western nations lifted economic sanctions. iran's moves are key to future negotiations. a freeze can only be effective if opec members -- opec member iran as well as non-opec members join the deal. oil prices fell after the earth wakes dampen investor sentiment. tokyo stocks plunged more than 500 points. >> tokyo shares tumbled as investors worried about the impact on bu

mitsubishi motors, the share price they're plunging.ompany will brief on in proper fuel tests, that is the headline just crossing the bloomberg right now. not a great deal of detail behind that. but as we get more on that, we will bring that to you. shares down as much as 70% in today's session. that is clearly a story that is gripping the japanese market. we willon the program, be talking about oil and emerging markets. join exclusively by the ceo of europe's biggest phosphate fertilizer reduce. withwill be sitting down that ceo, coming up. welcome back. this is countdown. looking in a live shot of new york there, the empire state building reflected the drama that took place in the city overnight. it is 6:44 in london. 7:44 and. . let us get to hong kong. he has an update for us. >> thank you so much. turnaround plan, just shy of $89 million. low expectations been by about 1.5%, investors of course really have a focus on what is going on with the sales process. according to people familiar with the, saying that the growth equity firm,

mitsubishi motors shares have dipped again after losing more than 40% last week over its fuel efficiencyndal. the carmaker is mulling a delay. that is according to a person familiar. the company says it needs more time to measure the effects and extent of buying costs related to the data. that is the bloomberg business flash. francine: commercial quantities oil. officials are set to unveil the vision for the world post oil. meanwhile, the imf has reported economic -- is said to slow down significantly in the next five years. northeast and south africa bloomberg -- he is setting out his vision. he needs to deal with a new era of low oil prices. click right, this is what they call the saudi vision 2030. the idea is they want to transform the saudi economy from an economy that is largely reliant on oil revenue to flexion for growth to an economy which is reliant on investment. has fourned division elements. there is national transmission program which will be announced in about a month. they will talk about how they are going to do the business of running the economy, government in a differ

. >>> another cheating scandal environmental protection agency says it wants mitsubishi motors to do al testing to verify gas mileage estimates. the mitsubishi admits it lied about fuel economy data for some models in japan for the past 25 years. however, mitsubishi claims that it used appropriate testing method forecaster sold to the united states. >>> apple suffered a setback today that it hasn't experienced in 13 years. the tech giant streak of earnings growth is over. iphone sales, fell for the first time. apple reported that its quarterly revenue dropped 13 percent, and it expects another 13 percent drop in the current quarter. >>> less than a week after the death of prince, his sister is taking legal action over the musician's estate. tyka nelson has requested that she be name administrator of the estate because she says that the singer didn't have have a will. prince was not married and had no living children. nelson is the only first sibling of prince and five half siblings have been named in the petition as he irs. >>> working the night shift could take more toll then just on

dayking with japan, a take for mitsubishi motors after they announced that the emissions 1991 andates the president says that the company may have their existence at risk. local media says the chairman may resign and, on top of all earnings areshi due out this afternoon. we are expecting australian cpi ande benign on the year give the reserve bank of australia the scope to ease when they meet next tuesday. analysts expect that it is unlikely they will do so. i am paul allen. emily chang: the housing market may be cooling off for the first time in four years in san francisco, who were down year-over-year. it is always good to have you here on the show. is this the beginning of the end? >> let's not go too far. there is the real estate market here and so many are not just using income. they are selling the stock in linkedin and some of the stocks anddown 20 percent-40% people used to say, i will bid on the asking and we have seen people taking a step back. chang: things are on the market longer. >> they used only last a couple of hours. we see appraisals come in higher than the offer pr

fuel efficiency scandal at mitsubishi motors has cost the company more than 40% of its market value in three days. things could get worse. masson says it may dump mitsubishi as a supplier of many cars. china has shut down some of its apple web businesses. taking the itunes off-line. apple has not given a reason for the shutdown. those the headlines from bloomberg news. here is the latest in the markets. juliet: japan is coming back online. down more than 4% over the course of this week. it's the steepest losses since january. sharp is looking ok up 3%. a number of exporters getting a boost from the yen. quite significant losses coming through. we has coming through from the casino players. the insurer in hong kong is up. sony in japan is down 3%. weaker than expected earnings. the japanese currency has been in focus this week. pretty unchanged against the dollar. overall a negative session coming through in asia. uber's largest competitor in china. about 40 million drivers and 11 million rides a day. by comparison, uber trails far behind, only in about 50 chinese cities, with a plan to

mitsubishi motors. interesting situation from japan after this company said it has manipulated fuel economy test. now, there are a lot of questions viability. the 20% drop is not a form of trading. result ofs the compiling sales orders through the end of the day. so, interesting situation here. see if thehing to same thing happened with the stock tomorrow. carson blocksead, targets to german advertising companies. pushing shares down 38%. the company's response, that is next. mark: questions on the central investment block advertising. shares have showed steuer as tumbled. the position was posted on the website. in that x visit interview with bloomberg go, block laid out his research. >> we have been looking at a german advertising company for stroller. has this is a company that been an out of home advertising company. one, it announced a digital strategy. it's then, they have had a lot of different businesses. a patchwork in the digital industries. i looked on their website, it appears that they have

mitsubishi motors had its own scandal, disclosing it manipulated fuel economy tests.ivehares did not trade today. it traded limit down, the limit down being 20%. we will see what happens tomorrow in japanese trading. to allow it to trade life. lisa: analysts expect another quality report from starbucks saying a weaker dollar may these pressure for the second quarter. -- may ease pressure for the second. david: let me ask you about the loyalty program at starbucks. what has changed and will we see signs of weather that has worked out in this report? peter: they moved from a transaction-based model to a spending-based model. it will hurt people who spend less on average. on average, it should be about equivalent for everybody. they moved from a transaction-based to spending-based model on the loyalty program. lisa: we do expect to get information on how that panned out in this latest earnings report. peter: they will talk about the transition in early april and how that has worked so far. early, two weeks or so since that transition took effect. lisa: what about food? h

shares of mitsubishi dropped 15% yesterday. lauren: general motors reporting earnings before "the opening bell". the automaker expected to post a profit of one dollar and wanted to share up from a year ago, revenue is expected to decline slightly to $35.4 billion. investors watching for any clues about future car sales especially for signs that the us market could have planned out a bit. gm car sales rose in march but there are concerns the gains will not continue despite lower gas prices and a down market getting better. lauren: a day after a huge victory in the gop new york primary donald trump telling supporters they are going to enjoy watching him beat hillary clinton in the general election. he was on the o'reilly factor last night. >> looks like we are in very good shape to go right to the end i will take on crooked hillary. i will take on hillary clinton and i think we are going to win. lauren: trump campaign in indiana, 57 delegates up for grabs in that state which holds its primary may 3rd. jeff flock has more. >> you wonder why donald trump

datas give you the latest or information about what is happening with mitsubishi motors. focus because of the scandal surrounding this carmaker. they will be doing a press briefing. there will be a press briefing. another down day for this shares of that company. down by 9.4%. today's trading session. also be aware that the nikkei agency is reporting that mitsubishi may have been using the wrong tests for many years. let us bring things back to europe and talk about some breaking news. we have numbers coming through labor in germany. on focus is going to be cyclical parts of the business and on the new company structure. that sales coming in at 11.9 elgin euros. 12.1 billionf the euros estimated. that number looks to be ahead of estimates. continuing operations looks to be ahead of estimates as well. the ebit number looks to be ahead as well. blockbuster drug in the pipeline which could be a weak spot for this business according to analysts at bloomberg attended -- bloomberg intelligence. bayer is not just drugs. ceo whoe named a new will be taking over at the end of this

we are also watching mitsubishi motors in tokyo this morning. ently, on quite a bit of a despite revealing that vehicle orders in japan admitteded since it falsifying field data. mitsubishi says its finances remain strong despite losing more than half its market value since the scandal came out. can determine the scale until we complete our investigations accepted bylts the transport ministry. the president says the follow-up from the scandal poses a threat to its very existence. rishaad: thanks. were looking at why the united nations has issued a warning over north korea's dwindling food supply. bloomberg.com/asia is your digital destination. digital advertising and the rise of it, speaking to a cofounder and chief executive later on the show. plus, expect haitians ahead of the boj decision -- expectations ahead of the boj decision. that is all win "trending business" returns. ♪ taking a look at japan consumer prices dropping more than did in march. session today to decide on expanding monetary stimulus. whether guest questions the boj will go d

mitsubishi motors is facing another dramatic plunge. er following its omission of cheating on tests. they had not complied with japanese standards since 2002. mitsubishi's actions are very serious. it looks like the u.s. is in the lead up up to a corporate financial prices. they say that china's recovery is fueled more by arlington structural reform. a bit of a hard start on the open there. also some very solid gangs on the hang seng index. it was push higher up closing in its lowest level in two weeks. sinopec are all very solid. the crude prices up -- rebounding. taiwan gained a half of 1%. southeast asia's also positive. commodity prices pushing the australian market higher. also it is back in the black. we are up -- switch out of gold stocks today. also we are seeing the u.s. dollar strengthen after falling. that is pushing some downward pressure on the emerging market currency. 31% after a couple of sessions a very solid gains that is the state of play in markets across asia. ♪ emily: turning to china. alibaba founder jack ma believ

mitsubishi motors have skipped the event as they grapple with the mileage scandal.hat has not stopped the local joint venture, that says it wants to become the top suv brand in china and will introduce 10 new models over the next five years. it is part of the venture's goal to become number one in suvs in china while volkswagen apologized at car shows after its own scandal, and mitsubishi says its partner is not in a position to apologize for it. mr. b she has until wednesday to cement that it about a falsification to japan's transport ministry. the company has not said if the cheating extended to other models or on vehicles sold outside of japan. att is all we are looking for you today, back to you. shery: thank you. still had on the show, finding the right investment opportunities in auto startups. next, japanese stocks fall for a second day, head of the boj meetings. we will discuss that more after the break. ♪ shery: welcome back. morgan stanley investment says that take advantage of generate stock numbers, boosting margins. let's get more from our finance repor

mitsubishi motors has --itted falsifying emergency emissions tests back to 1991.e now investigating up to three months. thepresident apologize for scandal, which has wiped out half of the market value since last week. can the company survive this scandal? >> speculative has turned to a couple of scenarios. one is a buyout and the other is a bailout. thethe buyout, there is possibility a chinese company, maybe an indian carmaker, a domestic japanese business. the forecast is not good at all. of the smallest carmakers in japan, so it is unlikely that part of the business would survive. yahoo! shares are slightly lower after announcing star board getting new directors. is this a surprise? >> no, this was the option we all thought would happen. star board was running a proxy contest and they wanted to replace all or most of the board of yahoo!. that would have been miserable for everyone. happened, thee field process would have run, and then they would have picked a winner. star board would have started this again and they would have to begin again. sense. makes it is

. >> we are focusing on mitsubishi motors. ey admitted to mitigating the test results -- violating admitted to test results. can mitsubishi survive? is this just the tip of the iceberg? , ithat we have seen so far is limited to one particular model. mitsubishi is not the best and financial health. questionsee this as a on their radar. it is a question of how they get out of the crisis and gain customer confidence. it harks back to the days when mitsubishi at this scandal back in 2004. around that time, they started cheating on the fuel consumption. >> is it fraud, is it not? >> it is. i don't know how the japanese regulators will handle this. but regulators around the world will say is that a good way of self certifying. that is what happened with mitsubishi. they were doing their own tests and certifying themselves. of the trust will go away and this will not only be in japan, this will be in the u.s., europe, japan, and also in china. >> we just got news on volkswagen this cap hour. the company and u.s. government agreeing to

in japan, mitsubishi motors has admitted manipulative -- manipulating test data.ected models include that discovered the cheating -- two -- that discovered the cheating. the eu is opening a new front in its fight with google. regulators have sent google a formal antitrust complete over its android mobile phone system. a company is accused of using its power over smartphone makers pps.rush opposition for a google has responded, saying it will show that the android business model is good for competition. and that is your latest bloomberg business flash. mexico's state-owned oil company pemex has seen better days. pemex just received a government cash infusion of more than $4 billion. in an exquisite interview with executive,ker, chief talks about turnaround plans. mr. gonzalez anaya: we need, like every other company, to adjust to oil prices. if i'd oil -- if oil prices increase, that will be good news. we need to face the reality that oil prices are not $100, not $80, and not $70. a budget is enough for the american got -- mexican government interview ti is at $35

mitsubishi motors under the hammer again, losing 40% of its value in two days.ess, too. yen hitting of the japanese equities along with disappointing corporate results. the music world

shery: mitsubishi motors has admitted falsifying fuel efficiency tests as far back as 1991. formed a panel of three former prosecutors. the investigation should take up to three months. the president apologize for the scandal, which has wiped out half of the company's market value since last week. can the company survive this scandal? dave: the speculative has turned to a couple of scenarios. one is a buyout and the other is a bailout. as for a buyout, there is the this gushing about the possibility of maybe a chinese company maybe an indian , carmaker. as for the domestic japanese business the forecast is not , good at all. they are one of the smallest carmakers in japan, so it is unlikely that part of the business would survive. scarlet: yahoo! shares are slightly lower after announcing board forh star getting new directors to the board. is this a surprise? jeff: no, this was the option we all thought would happen. starboard was running a proxy contest and they wanted to replace all or most of the board of yahoo!. that would have been miserable outcome for everyone. what w

mitsubishi motors had promi massive scandal 15 years ago after covering up auto defects then. >> thank you, susan. >>> for eight years he was the nation's third in command. the new setback involving a former speaker of the house. >>> and for weeks hundreds of you couldn't stop watching the national arboretum eagle cam waiting for d.c.'s newest >>> we continue to track the chance for showers and thunderstorms. again, not expecting a lot. not expecting wide coverage. this is not going to be a severe weather outbreak. we will be watching storms. down to the south, culpeper county, a couple storms just south and west of culpeper. these continue to move down to the south and east. fredericksburg and spotsylvania county. this is the front coming through. most of this action will pass to the south. it is only up here that we could see some of those storms. that's why there's a severe thunderstorm watch in effect. not a single warning yet, but the severe thunderstorm watch is frederick county maryland, washington county maryland. tom will talk about that huge change moving our way. >>> the sam

. >>> the mitsubishi motors announced that the post if your mileage test information for some of the vehicles is not accurate. mitsubishi said that there is evidence that some employees intentionally gave false miles per gallon information for the ek wagon and the epa -- ek space light passenger car. it was first noticed by nissan that sells a line of cars produced by mitsubishi. the mitsubishi president said he did not know about the problem until pointed out by nissan, and he is not sure why the employees would falsify the numbers, but he is apologizing. it's not clear whether any vehicles sold outside of japan had the wrong mileage information or not. >>> 6:05 am.'s back and one of the silicon valley best-known companies is cutting 12,000 jobs, intel says that 11% of the global workforce will be cut, including voluntary and involuntary departures. most of the affected workers will be notified before the end of june. the company is trying to refocus the business on the most profit real -- profitable businesses, including making processors for data sending -- data center computers an