nomura. !e move marks the first enty by japanese bank into india's retail finance business. jafthe lender will eventually acquire the rest of the credit firm. it is a unit of singapore's estate investment fund. investors will get the chance to take macquarie bank acquire in germany after $35 million in losses linked to the scandal. the appeals court in munich overturned an earlier ruling which told investors they had to file their case in london. investors are alleging a or a bond led to a controversial tax scheme without their knowledge. they denied a report that the term and is planning to take the company private. shares jumped 40% in new york after they reported a consortium led by chinese estate firms would offer as much as $100 a share to delist, so they parrot games to close 6% higher after saying it was not true that is chairman held discussions to go private. coming up next, trading steadily in the hong kong trade -- grain market. the first of the big electric carmakers in china hits t

shery: what does this mean for nomura's future in the u.s.?ory goes that the nomura founder has been wanting to break into the big leagues of wall street since he first visited new york back in 19 08. cracking the u.s. is critical because it has the world's biggest pool of banking fees and the ceo at the moment, who was appointed last year, has been trying to expand business in the u.s. and appointed a wall street veteran to cohead the america unit and promised to add non-japanese outside directors. the key plank was to earn more money from prime brokerage. financing was supposed to be a big piece of earning money in the prime brokerage unit. they will need to find other ways to fulfill u.s. ambitions. haidi: nabila ahmed. we do have lots more to come on daybreak. this is bloomberg. ♪ haidi: the global tip shortage and a surge in memory prices will boost electronics sales and profit numbers as it reports pulmonary second-quarter results later on wednesday. our chief north asian correspondent is taking a look at that. he joins us from hong kong

nomura took this hit. they were showing they were very keen.rokerage staff were looking at other opportunities in places like new york. this will not be across the board. they will still maintain operations in asia and japan, the biggest prime brokerage operation for nomura. it is quite a small player in europe. it is not a sweeping cut across the globe. dani: can we write this off and say not that much of an impact for nomura? does this have bigger ramifications? >> monetarily, in terms of its revenue, it is not going to have a huge impact on earnings. but it is certainly denting the ceos ambitions, particularly in the u.s.. he has once run the operation in the u.s.. it is the biggest pull area and it is going to dent client relations there. he has another headache on his hands with the department -- the departure of research analysts and its prime brokerage chief in asia. on top of that of course he has the u.s. probe. dani: interesting months after the start of the archegos drama it continues. thank you for staying on top of this for us. tha

shery: we have seen two highly ranked stock analysts leaving nomura. nabila: this is definitely a setback for nomura, the first firm to establish a research department some 115 years ago and member that the bank was another one that was badly damaged by the arcade goes saga. they took a hit. there has been a raft of departures since. research was one area that the bank had sought to reinforce as part of its router growth plans, but now, we are seeing two very highly ranked analysts have left and the bank is forced to suspend coverage of about 30 companies they covered including some big ones like nintendo and rakuten so this is not good for clients of nomura. haidi: a bit -- shery: the bill ahmed. the head of the tokyo stock exchange says longer trading hours could be realistic in the future. the president and ceo spoke exclusively to bloomberg about market reform and attracting more ipo's from foreign companies. >> our overall goal is to build up the market of choice for domestic and overseas investors and also other market users. it is very important

no more, for example, around -- nomura, for example.se earnings, former score earnings coming up friday from nomura. this as the bank tries to move past the tobacco. let's talk with nabila ahmed/ . >> we know nomura had a $600 million loss in this quarter but analysts are excepting the bank will return to profit, and that is because of a number of factors, including stronger results from a fixed income and policy trading in volatile markets, a strong result from its retail product based on the strength of the u.s. and japanese stock market, and also stable and low operating costs. some good news for the long-suffering shareholders. haidi: they are hoping this is a one-off debacle that can be put behind them. >> nomura has already racked up a lot of losses. they had to overhaul their procedures and the ceo will have to explain how the bank gets past this debacle we saw overnight, that credit suisse reported the results of its own internal investigation into what went wrong, we are still waiting for nomura to release its results of a thir

nomura is scrapping their hedge fund business. it gets a stock offering in the u.s.here we go. 10:29 in hong kong and shanghai if you are watching on the new york. it 3:00 p.m. out of the eastern coast. asia-pacific doing this at the bottom of your screen. following the reopen we had overnight in the u.s.. >> they woke up to volatility as well. looking at the key stories in the data, singapore minister has defended the government's free trade agreements. criticism from political opponents that increased job competition but india has made it harder for locals to find work and singapore's ministry of health says it is not counting people who took the sinovac vaccine. the central bank will release foreign reserves data in malaysia. that will be today as well. >> china's state council issuing a sweeping warning to companies bowing to tighten data can security. the crackdown on dd, including security reviews. debuting on the new york stock exchange, shares have seen the low on tuesday. the white house has encouraged opec-plus to confirm the administrations from saudi arab

nomura suffered losses from trades with archegos.nce is what -- providing a credit line to the wall street firm's leveraged financial operations and collaboration on certain pieces of investment bank in business. a landmark donation days before his trip to space. jeff bezos will give $200 million to the smithsonian national air and space museum. the bulk will fund the creation of the bezos landing area. washington institution says it is the largest single donation sense the founding gift from james smithson in 1846. haidi: coming up next, chinese gdp. we will get views from vanguard as to whether that will pick up toward the end of the year. this is what we are watching when it comes to the fx front. we have seen the kiwi be the outperformer after the hawkish rbnz statement. expectations pricing in two rate hikes this year alone. that drop in the dollar reflected across most of these currencies. the dollar china trading at 6.43. a little bit of softness when it comes to trading. the bloomberg index is seeing a limit of a pick up a br

how are we adjusting to a door nomura -- to a new normal?l the details from spencer dale. bps chief economist joins us next. this is bloomberg. ♪ ritika: this is "the european close." coming up, kayla kilbride, a tiktok content creator. this is bloomberg. let's check it on the bloomberg first word news. the tokyo olympics will ban domestic spectators and events held in the city. that reverses an earlier decision to allow some fans. a resurgence in coronavirus cases push the government to declare a of emergency in tokyo. your trip to the grocery store may soon cost last. global food prices fell for the third time in a year. the united nations gauge of food cost fell 2.5% in june. it was the first decline since may 2020. consumers may not feel the drop just yet. the index tracks the cost of raw materials and it takes time for price changes to feedthrough to store shelves. bloomberg has learned european central bank policymakers have agreed to raise their inflation: 2%. plus they will allow room to overshoot it if needed. that is a big change f

nomura will stop offering cash prime brokerage services in the u.s. and europe.e of archegos capital management. taylor: unbelievable. let's take a look at these markets. we are red across the screen on every major index. the s&p has turned negative or get the banks are leaving that. you are now off by more than 3% in the last two days. the nasdaq isn't even a safe haven today. bonds, that is the safe haven. rate of change, 1.30%. guy: chris watling is going to join us, the ceo of longview economics. this is bloomberg. ♪ (announcer) back pain hurts, and it's frustrating. you can spend thousands on drugs, doctors, devices, and mattresses, and still not get relief. now there's aerotrainer by golo, the ergonomically correct exercise breakthrough that cradles your body so you can stretch and strengthen your core, relieve back pain, and tone your entire body. since i've been using the aerotrainer, my back pain is gone. when you're stretching your lower back on there, there is no better feeling. (announcer) do pelvic tilts for perfect abs and to strengthen your back. d

shery: we have nomura's first-quarter earnings. what are the expectations? it is expected to have a loss related to archegos. the japanese bank could returned to profit this quarter despite that. that will be because of the strength of its retail business so japanese and u.s. equity markets have done really well this quarter. it's asset management expected to be steady and the cost base is relatively low and stable as well. they fall in seven spots in m&a global league tables since this time last year. shery: nebula ahmed. -- nabila ahmed. aftershocks from archegos are rippling through the business. profits plunging on a slump in trading that was exacerbated by a $653 million loss related to the implosion of the u.s. family office. the ceo, thomas, now promising no more archegos tide bearers. >> we are absolutely doing this strategic review together with the board of directors and the executive board, having very constructive discussions. we want to take our time to do that because this is not something that we want to do in a rush. we have a clear intention

in japan, nomura has suspended coverage of dozens of companies including rakuten following the departureghly ranked analysts in tokyo. companies on the tokyo stock exchange's watchlist are at risk of being removed from the nikkei 225 index. previously, only firms on the brink of being delisted were removed. the changes take effect october 1. asahi reporting that the government in japan is planning to hold the olympics opening ceremony without fans, giving up earlier plans to have spectators. over in south korea, the health ministry now saying that a media every part said the government is in talks with pfizer and moderna to produce covid-19 vaccines is not true. health officials will be holding a briefing later at 11:00 a.m. local time. in the meantime, the ft is reporting that it is being investigated over allegations of manipulated search rhythms to prioritizes product. the fair trade commission conducted an inspection in seoul last month, haidi. haidi: let's get you caught up with the rest of the business flash headlines this hour. credit suisse is planning to give its employees maxim