the recall causing nestlÉ india a quarterly loss as maggi contributes 25% of all revenues to nestlÉ indias 25,000 tons of noodles. the government is seeking punitive damages from nestlÉ. theysts are not worried will be able to successfully put this evidence showed -- this episode behind. india is the biggest market for maggi noodles. 3.7%,ock rose as much as the most it has seen in seven months, after the news came from the courts. nestlÉ india has said its products are safe and meet international requirements and standards. causedernment recall has widespread concern after a lab found a product unsafe to consume. nestlÉ has been grappling with a slowdown in china. now the increased value of this was franc -- of the swiss franc. happy independence day. i can see you are wearing the traditional costume. breaking news for you at this moment. the malaysian ringgit falling below four dollars. the lowest level since 1998. the malaysian ringgit at the lowest level since 1998. in "asia edge." ♪ john: i'm john heilemann. mark: and i'm mark halperin. with all due respect to mike huckabee and his l

the first quarterly loss in 15 years for nestle india. they have a chance to get some money back. francine: elliott gotkine with the latest on nestle. manus: some top headlines. jimmy carter has been diagnosed with cancer. he had liver surgery earlier this month, which revealed cancer in other parts of his body. america's is 90 and 39th president. the second oldest living president in history. his brother, two sisters, and parents died from the disease. francine: london's housing shortage is worsening, increasing the prospect of price rises. the measure of the housing stock -16 last month from -11, the sixth month of decline. lawmakers will vote on the reform to release an aid package. germany claims the plan is incomplete and is withholding support. finance: finland's minister has told bloomberg he's optimistic. he spoke to us in helsinki. are better off than we were in july. we were on the brink at the time. we were talking about spending -- suspending euro membership. we found a solution. i'm carefully optimistic that we will find a dea

elliott: china is a very big market, obviously, some nestle has some waning demand for this gets a peanut milk. big problems in india with its noodles. nestle has the market for noodles there, but they are having a problem. the indian government is suing , accusing it of unfair trade practices and callousness with regards to , of food which authorities say contains seven times the allowable amount of lead. is disputing that, but nestle india has already reported a worst quarterly loss in 15 years. india accounts for something like 7% of their 91 billion for swiss franc -- 91 billion swiss franc profits. in 43are expected to come billion swiss francs below. for the thirds, year running, it's a granite growth target. -- it's organic growth target. caroline: it will be a big one. guy: i tentative rebound -- our twitter question of the day, when we focus on china. we will carry out talking about it today. let us know what you think -- are we done with this story? @guyjohnsontv. caroline: coming up on "countdown," bailout blues -- the greek bailout takes center stage as lawmakers in athens but on reforms, but germany dra

. >> investors feast on nestle after they win a court case in india over a ban of its noodles and says the recall impact will be limit td. >> the death toll from a massive explosion in the chinese sport city jumps to 44 according to state media. hundreds more are injured as shockwaves destroy a vast industrial area. >> china's central banks reassured markets about the country's currency. it says a strong economy, sustained surplus and ample exchange reserves give strong results to the exchange rate. they also dismiss speculation of a possible 10% for the currency. it weakened for the third straight day as the pboc lowered it's range yet again. however the gap between the guided rate and traded rate has narrowed. >> repercussions of china's move to devalue it's currency a big topic of discussion and the negative impact on exporters. however some are taking advantage in the drop of prices. we are up 150 points. the u.k. index, ftse 100 up 53 while the french markets are seeing a gain of 86%. >> been close to 6% off of two previous trading sessions. so not entirely surprising to y today.

reports from india say nestle noodles might be on the shelf since the end of december -- by the end ofber. june.ere banned in nestle says it will continue to sell the existing formula without changing its ingredients and will spend aggressively to rebuild the brand. the finance minister saying that the official target of 8% gdp growth can be achieved if there are no "adverse global trends." he said that inflation is under control. moody's lowered its growth forecast earlier this month. angie: india's prime minister swept to power with the biggest popular mandate in three decades. his reform agenda has faced bitter opposition in parliament. soon he will face state elections that may consolidate his position. first, we will be in poverty-stricken bihar, where modi just announced a $19 billion development plan. tom last there has been to bih toassessar -- to bihar assess the challenge of daily life. >> when the river is high and there is no bridge, the only way of getting there is by boat. what you see is much of the coming tot by boat the shore. when the boats get close enough, they sort

india's two-month ban on nestlÉ has been overturned.the product can return to shelves if pretoria tests are found to be acceptable. the news is a welcome boost for nestlÉ. for theorted a loss first time in 15 years per the company saw sales rise as north america offset a slowdown in asia. samsung is counting on a bigger screen and new system to win over customers. they have introduced the as six edge plus. the payments are meant -- payment service will be available to south korea and users in the u.s. next month. we are not only getting a clear assessment of the damage caused by wednesday nights massive that killed tianjin 50 people, injured hundreds more and it tripled one of china's most vital ports. onhave stephen engle with us what is turning out to be a major disaster in china. >> it is a sad story. if you saw the footage of the explosions it is quite dramatic. we have the latest footage. let's roll this footage that we have coming from tianjin port and the aftermath. it looks like the hiroshima bomb. a massive explosion of some so

reports from india saying that nestlÉ could be back on the shelves by december.ed in ad ins that they had le them. nestlÉ says that they will rebuild the maggi ran. -- brand. angie: the resignation of alexis tsipras is almost certain to lead to september elections. parties on the far right and radical left are looking to capitalize on voters. bloomberg spent a day with two parties as they prepared to kickstart campaigns. this was the mood inside the headquarters of the golden dawn party on saturday night. we were given rear access to this party as members prepared for what is expected to be another great election in september. the golden dawn mp said that anger at austerity and the crisis willocess -- boost interest. they will vote for us because they are angry with someone else. because they have heard us speaking, they know us, they know we are not going to betray them, like alexis tsipras did. says the party draws support from areas. inwe are extremely popular new voters and we will be even more popular in the agricultural farmers, we have seen a lot of growth