moody ‘s has already said that malaysia is in uncharted territory.dea, the chances of him winning into this election were slim to none. people are shocked by this. he came out of retirement, 92 years old, after the prime minister had been embroiled in scandal. he is accused of stealing roughly $700 million from a state fund. moody ‘s has weighed in and we spoke to a emerging market expert and he said that the voters of malaysia have finally had a voice. and he said that the voters of malaysia have finally had a voicelj think this election in malaysia is a bellwether about what is happening in other parts of the world. now you are getting a wider distribution of power as a result of the internet. people are now learning a lot more about what is happening on the ground in the political environment. i believe that it will be very good for malaysia because reform will come faster and you will see a better deal for the man on the street. so what does this mean for the malaysia economy? well, the central bank, meant to have a meeting today but that is now

what is your take on moody ‘s placing a dozen italian banks and several companies on negative ratings? it is not a surprise. it is very well known about italy is still struggling with the amount of non—performing loans. quite a bit has happened already. italy has come on board as well and has been addressing the amount of non—performing loans on balance sheets. but the decline has started to happen. we are still lagging compared to some other countries who have put their houses in order earlier, for example be spanish banks, aurally started, on the back of that, obviously, if yield spike in sucha of that, obviously, if yield spike in such a way then ratings agencies rightly have got to take a look at —— look at it, because quite a bit of the government bond debt is held by italian banks. there was a smooth option of italian debt yesterday, which raised about 5.57 billion euros. marcus hester of this is in the past few days. is there a sense that things are evening out now or will depend on what happens with whether or not they form a government? the latter is the answer. it will still

everything is going the wrong way for it, no wonder that moody ‘s among others are having a look at it it is making in simple terms, that makes the ratings agency think we should downgrade it to close to junk status. if your credit is that bad, it is a lot more expensive to borrow money in financial markets. realistically, if that happens in the next few days or a week may be, what is the knock—on effect likely to be about if we are still looking at a state of limbo initially? it makes the euro week again, it calls into question the kind of muted recovery we've had across the eurozone, so again we get back to not quite a financial crisis that we have seen over past summers, but i think as we get into the summer but i think as we get into the summer months, financial markets will get increasingly nervous as to how this plays out. what are the options, a rerun, another election, andi options, a rerun, another election, and i suppose the league in particular are thinking well, that might bolster our position further? may be at the expense of the five star movement? well, the two right—win

is that markets could study on wednesday, but moody ‘s has placed a dozen italian banks on rail —— negativeative ratings. it is still a concern. you have a —— negative ratings. it is still a concern. you have a lot of unresolved issues, especially in the italian system. contrary to spain, where a lot of banks and the overall economy is in better shape, italy has been the slowest in moving back to growth and addressing some of the problems in the banking sector. we have seen quite a lot of banks come back to health last year, but we saw a rescue of a couple of banks in italy. so we have the question of what happens if there is renewed market turmoil and how does that lead to putting pressure on italian banks and other italian businesses that are maybe not initiate there should be in. again. thank you. we will see you later for the news briefing. from adele to james bond, from david hockney to harry potter, the uk's creative talent is admired around the globe. and the creative industries are one of the uk's fastest growing sectors, growing at twice the rate of the overall economy. but some pe

so moody ‘s, the ratings agency, has threatened to download the italian government debt to close thek, again the italian government debt to close the junk, again that would make the italian government debt to close thejunk, again that would make it even more crucial. just briefly, when you say they threatened to, that generally leads the fact that that generally leads the fact that that will happen. yeah, they generally give a signal and then a few weeks or months down the line, it becomes that way. so a worry for the italian economy and financial markets. you going to review the situation in the news review as well little bit later. thanks very much, good to see you. let's brief you on some of the other stories making the news. us officials are in north korea to try to ease the path to that proposed summit between president trump and kim jong—un. the discussions — on the northern side of the demilitarised zone — are thought to be focusing on details of a possible denuclearisation deal. the summit was originally scheduled for the 12th ofjune. china has accused the us of infringing it

to the point now where moody's and s&p recently downgrade your debt they say they're worried about your ability to pay debt, refinance debt that's you in 2022 what can you tell people who might own the bonds about that >> i think our bondholders are actually quite savvy and they understand that the bonds they own are not p.f. chang's, they're wok holdings, which is a combination of p.f. chang's and our sister company, pei wei. we're doing quite well and the reality is that we have plenty of cash flow generation to satisfy all our crazy aspirations for growth and then some >> s&p says you're going to be free operating cash flow negative over the next 12 to 18 months >> that's assuming to pei wei continues what it's doing. >> i like you and your crazy aspirations. >> michael, good to see you. >> very good thank you. >>> looks like that old saying, sell in may is already under way. the dow kicking off the new trading month in correction territory, plunging triple digits, 238 points right now on the flip side, nasdaq turning positive just moments ago. we'll bring you all up to date in the m

s-hole. joining me now is democratic strategist asha moody-middle and margaret breedo.his into two parts. i want to ask you why you regard what president trump as an outrage because it's factually untrue. he did not double in terms of the poll numbers for blacks. i think he went up a little with black men. black women he did not move at all. so it's a lie what he said. >> it's a straight-up lie. i would like to be generous and say that they like to deal in fuzzy math, but we know trump doesn't do math at all. so a poll came out that wasn't even a real poll that was statistically valid that said that some black men said that they like trump, maybe a few more black men. that didn't have any reflection on the entire african-american community at all. several other polls came out saying actually there's been no change. actually that was a lie. it's funny that he says this lie at the nra conference because you know that's the home of black people. >> but that's my point, marvette. you as one who has shaped and molded some of the music industry's great artists and superstars,

moody's investor services. caroline: let's have a quick check on the markets because we sessionng a tenant of -- tentative session. s 500 up a similar amount. the dow jones industrial average up a 10th of a percent. overall, this is been a day of oil strength -- this has been a day of oil strength. the reason, the u.s. stepping back from the irani and deal. -- iranian deal. deal is where the markets are focused right now and it really is about the oil price. vonnie: i think it is about waiting for the next move as well. we are seeing european leaders and leaders around the world say this is just one player coming out of the agreement but is it really? we will have to see how the market reacts and how the iranian government reacts. a quick look at businesses in the u.s.. the best00 is performer, tripadvisor. the worst performer, monster beverage followed by walmart. this is bloomberg. ♪ mom, dad, can we talk? sure. what's up, son? i can't be your it guy anymore. what? you guys have xfinity. you can do this. what's a good wifi password, mom? you still have to visit us. i will. no. make that the password: "you_stillóha

so moody's upgraded the city to a triple a rating, which is a notch ahead of where we aare at with s and p and fitch. the city had a triple a rating in the late 80's, which it lost, but hopefully, we'll be able to continue it. >> that's great work. congratulations. lastly, i believe i read that ben has been reappointed as the controller of the city, and i just want to say, i was here before when ed harrington was here, and those are big shoes to fill, and ben and his staff has done that better than anyone i can imagine, so congratulations on that reappointment, ben. >> let me on behalf of the whole committee offer ben congratulations because this committee really relies heavily on the staffing of his whole department to carry on our work, so thank you, ben, and thank you for the staff. >> one other comment. peg, at the notes of the last meeting, there was a request for an update on unspended funds -- unexpended funds at the may 21st meeting. would that come from you? >> yet. we just finished the projection report to account for all of the expenses through the third quarter, and so we

citing a outlook.ting inflation s&p reduced its foreign currency ranking, putting it on par with brazil in vietnam, below where it is currently related -- ranked by moody'snd fitch. jumping in hong kong up to the u.s. treasury extended, the -- and allows shareholders to divest from c ompany.the treasury target him in a sanctions package presidentey allies of peyton. utin. practical measures to resolve the irish border question could take years. wants a veryaid he substantial agreement on future relations with the european union in place by october. he was speaking before ministers to discuss how they see britain's trading relationship with the bloc after brexit. global news, 24 hours a day, on on twitter,ic toc powered by journalists and analysts in more than 120 countries. checking on the market action in asia as we resume trade, the nikkei is down by a third of 1%. toyota weighing on the market. able to bit of weakness coming through in hong kong and china li little bit -- a little bit of weakness coming through hong kong and china. it is the time to add to positions in asia suppliers. apple came through with those numbers in taipei, up by about 6%. is