i'm paul allen. this is bloomberg. thank you. to the problems at toshiba, where losses are in the billions because of its embattled u.s. nuclear unit. the company is considering selling westinghouse and there could be some keen buyers. let's get some more. what the latest we have? there's a lot of moving parts regarding toshiba. is essentially buyers for the nuclear division. that is the core of the problems in the u.s. westinghouse unit, triggering a series of events facing a 6e toshiba -- six plus billion dollar write-down, then has to fill the whole by a best-selling assets. causing disclosures are toshiba to face lifting because it's trying to get its earnings results together to report them. it isws out today is that seeking another delay, raising also the risk. back to the nuclear business, there are some potential buyers in asia. one is china. they are interesting -- aroundted in deploying the globe, and interested in the supply chain for toshiba's machine. they are a potential buyer. south korea, that's another possibilit

i am paul allen. this is bloomberg. that, paul.rnor of tokyo has scored several firsts. she is the first defense minister and first to contest the leadership of shinzo abe's liberal democratic party. she is seen as a potential future prime minister of japan. however she says more must be done to promote the wall -- the role of women in the economy. improvementa little since the new policies for the have been taken, but unfortunately i should say that the speed is not so fast yet. two steps advancing and one step going behind. shery: you are one of the most popular politicians in japan. would you say the economy -- the country is becoming more open to female leadership? yuriko: yes, i would like to believe so. i hope many women as possible to run for the assembly, and the election will take place in july, coming july. since i have a governor -- i am the governor of a mega-city, majority ofhe women, hopefully, that would be a big change. the poweraccelerate of tokyo and change from the old system to a new system. for instance, tokyo

i'm paul allen. this is bloomberg. china's political elite reveal economic targets at the national people's congress getting underway in beijing. tom mackenzie is watching this for us. tom, this comes at a pretty crucial juncture. what is expected to be at the top of the agenda? tom: absolutely right. some of the key economic matrix that you pointed to, in 2016, it was 6.5% and they announced it would be about 6.5% for 2017. it would give policymakers a bit of flexibility. the other thing is the deficit target. this is 3% last year. about 3.5st they wait to give themselves a bit more fiscal space. and there's the crucial question of leverage. and implementation. the five-year plan that was ruled out -- rolled out last year was put on the back is a try to shore up growth. there, aing director senior partner at boston consulting group. the c implementation of the five-year plan. be only onel keyword. implementation. agenda already for a while. the challenges about how to make things happen. and major items are going to b

i am paul allen, this is bloomberg. >> thank you.mbarking on the first comprehensive audit of state-owned banks in decades, to protect what is asia's top growing economy. our southeast asia correspondent is at our bloomberg live event in miramar. -- myanmar. are they opening up to foreign investors? they are it is a sign opening up even more. they tried to prepare stay banks for more competition. you may not know this, but there are already a dozen foreign banks in myanmar already since they opened up to the world six years ago. they are competing with 29 local banks. there is increasing competition in the space. myanmar needs to do more to open up. there are issues to do with policy, regulations, role of law. these are the things that are impacting investor confidence. when you look at the fdi, it rose $9 billion. but last year we saw a slump of 65%. because investment was smooth after the government was elected. there was a lack of policies and where it was headed. investors are taking a backseat. even as economies are opening up,

i'm paul allen. said to have injected hundreds of billions of yuan after some smaller lenders failed to make debt payments in the interbank market. tom mackenzie is looking at all this. what do we know here? tom: we are talking about missed interbank payments on monday, including some small commercial rural banks, the pboc throwing a lifeline on tuesday by injecting these funds. #6985, the context is the rising rates, at least in the money markets. we have this year today chart. august is when the pboc started edging these rates, the seven-day repo rates, slightly higher, and we have seen that continue. we are at the highest level since april 2015. in the first few weeks of march we had 60 consecutive days where the pboc was draining funds from the money markets. this analysts say is a warning shot across the bows of them banks to move away from excess borrowing. we saw but it did to the bond markets, the biggest rout in six years, now the banks are facing the pressure here in china. haidi: what are

let's get news with paul allen in sydney. has confirmed it is investigating potential links between president trump and russia during the election campaign. they say there's no evidence to support claims his phone was tapped. fbi director james comey was giving evidence before the house intelligence committee, addressing white house claims that president obama ordered surveillance on trump tower. a lead of advisors facing a lawsuit after this securities and exchange commission accuse them of receiving more than $4 million in illegal profits. the sec suit accusing cooperman of using his status to obtain confidential information. cooperman hasn't been charged with criminal wrongdoing. another chunk of midtown manhattan could be about to come under chinese under ship -- ownership. they are leading a deal to acquire 245 park avenue, at $2.2 billion. it will be one of the highest prices ever paid for a new york skyscraper. the tenants include j.p. morgan and it is three blocks from the waldorf-astoria, with a chinese insurance gro

i am paul allen.ne of our top stories, south korean former president park geun-hye arrested on suspicion of a bribery and abuse of power, it is the latest scandal involving big business and millions of dollars. what have we found out today? >> late last night, early this morning about 3:00 a.m., the arrest warrant was approved by the court, so park geun-hye is now in detention, where she will be until she is indicted. charges against her, and then presumably you will have a trial pretty quickly after that. jump in.just want to there is precedent for this kind of thing, but there is different allocations. >> it is not unusual for a south korean leader to be accused of corruption or their family. in fact, everyone over the past few decades has cnet be the case. this time what is different is the amount of public anger you saw, millions of people coming into the streets. you saw her approval rating dropped to 4%, a terribly low number. the question is what happens in the election coming up on may 9. does

this is courtesy of paul allen. h korea and japan have called urgent security meetings after concerns that north korea launched several missiles and confirm. projectiles were nestled into the sea. china is targeting growth of about 6.5 percent or higher this year and will focus on stability ahead of a twice-a-decade leadership transition. the premier li keqiang outlined his aims at the npc. his target compares with last year's goal of 6.5% to 7%. the chinese economy has proved resilient and now want to reduce the dangers of excessive borrowing. the british government has been warned that it risks producing the worst of all worlds if it tries to tailor post-brexit laws are specific industries. a sector by sector approach reportedly under consideration by theresa may would not reduce immigration, but push up costs. make wants to start brexit talks by the end of this month. hasdutch prime minister warned of economic can if the freedom party wins next week's election. opinion polls say the liberals are tied with the anti

here is paul allen. paul: david, president trump has promised to take the new travel ban to the supreme court after the order was blocked by a judge in hawaii. the judge said there was clearly a religious basis to the order. it was against six majority muslim countries. the president said it makes america look weak. was a order he blocked watered down version of the first order. that was also blocked by another judge. it should have never been blocked to start with. the aussie fell below $77 u.s. after the jobless rate unexpectedly climbed at 5.9%. they fell by 600,000 jobs. there was a gain forecasted of 16,000. australia's market has a signals after lackluster hiring and the rba's decision to keep interest rates at a record low. the euro rose to the highest level in more than a month with the prime minister being seen as an early winner in the dutch election. his victory over the anti-muslim candidate talked about the right-wing nationalism in europe. europe -- the euro is advancing against the dollar s

paul allen. u.k.l trigger brexit in the next few hours, launching at least two years of negotiations with the european union. will start toes unravel when britain's ambassador to the eu hands over a letter from prime minister theresa may invoking article 50 of the lisbon treaty. that should happen around lunchtime in brussels, and theresa may will address the house of commons at the same time. president trump has issued an executive order rolling back is predecessor's carbon cutting commitments, promising a new energy revolution and america's fossil fuel resources. obama made this a central issue of his second term. trump has called climate change a hoax and once to reorient policy to help u.s. oil and coal producers. we have already eliminated a devastating anti-coal regulation, but that was just the beginning. today i am taking bold action to follow through on my promise. my administration is putting an end to the war on coal. we will have clean coal, really clean coal. paul: elon musk one a vote of

i am paul allen, this is bloomberg. shery: the focus right now on chinese premier li keqiang. want a beijing does not trade war with the u.s. as he wraps up the national people's congress in beijing. david: he says he is optimistic at times but acknowledges there are disagreements. cannot do anything about that. tom mackenzie joins us live from tiananmen square. what else has li been focusing on here? as you touched on there, the first question to from your -- premier li was on ties and trade. the relation about their difficult points, we expect to move forward. we expect the relationship to improve. but the phone call between the two presidents where trump said he would support the one china policy, that laid a foundation on which they could build it now. he was also asked on the trade side about a potential trade war. he made the point of saying, u.s. companies will be hardest hit if there is a trade war. we know policymakers have drawn up a list of retaliatory measures that they would take, should tariffs be imposed. he was also asked about financial risks. top of moved tow

that trade issue to the july sentiment when president trump -- let's get to first word news with paul allenm sydney. paul: the latest opinion poll in france puts the independent candidate emmanuel macron in first place. the survey gives him 26% support, the same as marine le pen. the conservative francois fillon has 17% backing, with left-wingers on 12%. emmanuel macron is seen beating the arena pen in the second round. japan and russia have agreed to begin direct flights between disputed islands to allow former japanese residents the chance to visit. kyoto news says the two sides have discussed proposals for the joint development of four islands. the proposals are said to include health care, fishing, and tourism. has made a claims it revolutionary breakthrough in space technology with the ground test of a new type of rocket engine. unate tv shows kim jong-i watching the test and saying it was a great event of historic significance. north korea was banned by the united nations from conducting long-range missile test, but claims the program is for peaceful uses. home prices rose despite inc

joined by paul allen with a look at the markets. . orning paul: looks like we are set up week positive end to the in the asia-pacific. new zealand has been running for 30 minutes. and there is a marginally higher at the moment, futures for the ax also pointing higher as the index closes in on the 5000 barrier. the nikkei futures also looking positive. we are expecting a bit of data out of japan. the jobless rate for february is estimated to hold steady at 3%. cbi is expected to contract a little to .2%. keep an eye on a few stocks out of china today, particularly the big airlines, air china, china southern and china eastern, all three reported a combined profit of the biggest in five years, and net income was short of estimates. and a lot of data out of china as well with manufacturing and nonfood manufacturing pmi. i'm paul allen in city. more from "bloomberg technolog'' next. - i'm paul allen in sydney. cory: this is "bloomberg technology." concernedars are about the future of a landmark agreement between the obama e.u.nistration and

paul allen is watching this from sydney. good to see you. bviously high on the agenda today. paul: it is probably top of the agenda. we expect china to push for the regional trade deal. there is expected to be movement on bilateral agreements, as well. greater access to china for chilled reef products. be a jointpposed to announcement on an initiative for research and innovation, as well. there is going to be featuring of defense concerns, the australian prime minister is expected to reiterate his desire to see disputes in the south china sea resolved in accordance with international law. speak franklyl and constructively about maintaining peace in the asia-pacific. to chinese premier li due visit parliament in a short time. we expect speech is underway in 90 minutes. yvonne: paul allen there in sydney. central banks watch as a debate their next move. ♪ show me academy of country music awards. thank you so much for that down home welcome. show me female vocalist of the year. thank you so much. thank you so much acm's, i appreciate it. show me

i am paul allen. thanks.ry of state rex tillerson says it is time for a new approach to north korea and its nuclear ambitions. our correspondent is following oflerson on his first tour asia. did we get any clues as to what this new approach actually might be? clues, but lot of not a lot of answers. on one hand, we got the olive ranch saying you don't have anything to fear from the united states. on the other hand, he is saying 20 years of diplomacy on north korea and its missile program at afailed, so that hints more hawkish tone, and also of course if you consider the more recent deployment of the antique missile system, the thaad, which sophie kamaruddin was talking tillerson goes to seoul, korea today, it is ramping up the tension by him being less committal as to what the plans are. that is why he went to japan first and met with his counterpart in tokyo yesterday to get on the same page before he went to seoul, korea, and in beijing over the weekend. this is the message rex tillerson had for pyongyang ye

i am paul allen. >> thank you.arkets are shaping up this morning, the first chance to react after that republican health care bill was shelved on friday. let's get the rate is -- the latest with sophie kamaruddin. sophie: let's break it down by segment. billsealth care failing to pass, so health care stocks falling. energy shares up a third of a as oil producers consider extending output comes and trump said to reverse obama's efforts to combat climate change. sentimenting bullish drying out. we had brent fall below $50 for the first time this year as the u.s. shale drillers ignore the drop in prices and add more rigs. this monday, brent and wti treading water. elsewhere, iron ore posting a record loss, miners falling and sitting -- in sydney. bhp and rio tinto tinto among them, offsetting gains in gold stocks, arise in prices snapping a two-day drop. while resilience and austrian stocks are being tested with that slide, we will see if bears will mount to return. the fall through the 200 day moving average could in

let's get to the first word news now with paul allen. paul? paul: betty, the u.k.for a friendly split but says there is no going back after launching the brexit process. prime minister theresa may's letter to the eu president starts two years of negotiations which are unprecedented. requests ae letter sweeping and to the deal with the eu. >> this is an historic moment for which there is no turning back. britain is leaving the european union. we will make our own decisions and our own laws. we will take control of the things that matter most to us. we will take this opportunity to britain,tronger, sarah a country that our children and grandchildren are proud to call home. china's central bank may keep a tight rein on market rates this year. most analysts anticipate the pboc will raise the rates at least twice, putting pressure on bonds. producemoney retired to leverage in the financial system, but they also need to produce a cash crunch. l courtl court -- seou will say in the next few hours to decide whether they arrest former president park. they say the arrest wou

i am paul allen. this is bloomberg.we are watching shares of toshiba trading down about 710 that itsa report western unit, westinghouse, may file for the groep c as early as today. a report calls the move imminent at $6 billion. exactly why were investors beforehand sharing this bankruptcy probability? > >> good morning. perhaps it is useful to back-checked to december went to sheila shocked us by saying it might be worth billions of dollars in afterwards the company let the market paying for pretty much a month and a half and shares dropped in half. 06.2ebruary, they say they billion dollars. owners have yet to sign off on the number and the cavity has never really given an projects could result in such a large hole. expertsame time, the don't believe that is the end of the losses. there may be no and to the negative flow that these projects generate. you have to remember they are decades long projects. betty: indeed. as we mentioned at the top, a lot of reports suggesting cap bankruptcypter 11 filing. what about toshi

here is paul allen with your first word news.y and more cities despite increased restrictions on property transactions. homes rose in 56 out of 70 cities tracked, compared with 45 in january. on friday, beijing braced down payment requirements for second homes by 10 percentage points to between 60% and 80%. uber has confirmed its president jeff jones is leaving the company. it follows reports he had become tired of the growing number of controversies ranging from allegations of sexual harassment to the combative behavior of ceo travis kalanick. jones adjoined uber from target less than a year ago. the company is facing a lawsuit from waymo for stealing secrets allegedly. south korea's largest maker of mobile games aims to raise as much as $2.4 billion in an ipo selling 17 million shares when it goes public. netmarble is the ninth largest game publisher in the world. tencent is one of its biggest backers, owning a quarter of the company. it's release of a lineage to revolution brought in nearly $180 million in a month. german chan

i am paul allen. this is bloomberg. thank you.say toshiba's file fornit is set to bankruptcy today. s&p ratings has lowered toshiba to triple c minus and saying it could fall farther. the corporate ratings agency director joining us now. great to have you. we know there is a hole in toshiba's balance. we know about the 6.2 billion dollars write-down but we don't know how big of a hold this is overall for the company. give us an estimate how much cash toshiba needs to raise. >> thank you. yes, we estimate -- it is quiet challenging to calculate but, based on assumptions, huge cut is necessary. -- in case of the necessary cuts, we believe toshiba corporation are likely to support and provide additional loans to support toshiba operations. betty: you think the banks will have to come and step in. i just want to throw up a chart to show our viewers here showing toshiba still has quiet a huge term loan outstanding it needs to pay off this year. if you take a look at it, it is bar onbillion, the pink the far left. is that the best scena

first word news now with paul allen from sydney. ul: the former director of national intelligence has denied president trump's count -- claim that there were wiretaps on his tower during the election campaign. they claim the at breitbart news. it was formerly run by's steve bannon, and there are calls for a congressional investigation. james clapper denied any wiretap was ordered. shinzo abe has strengthened his grip on japan with his liberal democratic party changing its rules to allow the leader to serve three consecutive terms. this came from a conference in tokyo, and he could stay in office through 2021. he came in power late 202012 -- 2012 and is the longest-serving leader after angela merkel. tensions rise over the deployment of a u.s. missile defense system. beijing has said to have stopped of the selling of holidays to korea, and four industries were shut down in china for safety violations. north korea is said to have deployed a missile in the last half hour. global news 24 hours a day, powered by more than 2600 journalists

we will get you back to sydney with paul allen.he european union says chinese president must back up his support for free trade and globalization with concrete action. commissioner has told bloomberg, the whole world hopes beijing will adopt a stronger leadership role on such issues. >> unfortunate cover the reality in china today is not so bright. it is difficult for european and other countries to make business there including lack of transparency and behold state owned enterprises politics which does not create a good, level playing field. we hope very much they pursue the reforms they have attended. -- intended. paul: samsung has confirmed it is in early talks to expand manufacturing in the u.s. with a new facility for home appliances. the wall street journal says samsung plans to spend at least $3 million on the project and is in distant -- discussion with at least five states. in may include shifting some production from mexico. agreederve bank of india to resolve a two-year dispute over the sale of its stake in a joint wirel

i'm joined by bloomberg's paul allen with a look at the markets. good morning to you. t's start off in new zealand. showing signs of positivity off -- about it, .1% right now. nikkei pointing down at the moment. aussie model, down after a bit day on thursday. future sporting down just a touch at eight points lower. keeping and i on the core group at the open. macquarrie as just a by -- agreed to buy the petroleum trading business. no terms have been given so far but the deal is expected to close this year and it strengthens their hand in commodities as other lenders have been retreating from that sector. quite a bit of earnings out today to shanghai electric, csc, keep and i on when the stocks start trading in asia. i am paul allen in sydney. more from "bloomberg technology" next. caroline: this is "bloomberg technology." i am caroline hyde. back to a story we've been following, president donald trump's second travel ban was blocked by two u.s. judges hours before it was set to go into effect. tech companies continue to challenge his immigration reforms. the tech in his

let's go straight to paul allen in sydney. paul: it's a beat, yvonne.ans for the month of january growing by 0.5%. the market had been expecting a 1% decline, but the real jump is in investment lending, up 4.2%, reversing a 1% decline that we had back in september. the news on the owner has/occupier front is not so good -- the owner/occupier front is not too good. was up 1.3% back in december. the aussie dollar climbing just a tad on the back of those numbers. at thateresting looking discrepancy between the investment lending and the owner/occupier lending. homeownership has become a political issue here in australia. it wishes this morning the treasurer announced a new -- it was just this morning the treasurer announced a new task force. they will provide longer-term, lower interest loans to the community housing sector. that does address what's becoming a political issue. we might see some more about that task force in the budget. just to recap, home loans for the month,we might see some mort that task unexpectedly rising 0.5%. a big jump in investmen

david: paul allen from sydney. looking at markets, equities are bid, dollars bid to a lesser extent. the peso gaining. a fair amount of risk appetite as we wrap up this week. >> not too bad for our friday. a week that saw a roller coaster ride when it comes to equities. we see a comeback in australian stocks. 200 up 1% -- asx 200 up 1%. the week losses there. kospi down onethe third of 1%. take a look at what is going on. we're seeing the dollar strength pick up somewhat. bankas we do have the fed president seeing three rate hikes. we are anticipating that health care bill vote in the u.s. friday. around thethe peso 50 mark falling after the central bank left rates unchanged this week. they were in the lowest level in about a decade. currency move through, adjusting that and maybe undervalued. saw theri lanka we first hike in key interest rate since july. this has contained inflation. take a look at some movers in asia today. -- hashave has linda linda point out. effissimo capital was the top shareholder. they have

i am paul allen in sydney.om "bloomberg technology ," next. ♪ ♪ this is "bloomberg technology. go tesla shares on the highest level in a month. tesla shares up 30% year-to-date boosted by the capital raise and anticipation of the model three. moore's law is still on track according to intel. it says its rivals have not closed the gap on manufacturing leadership. samsung's ability has not change the market. joined by stacy. you guys did a big event today. last week, i did something with craig barrett and he mocked me basically, saying guys like you have been saying moore's law is dead for 20 years. it is more than that. semiconductors cannot get twice and half as expensive every 18 months. but you guys are still pulling it off. stacy: yes. the rumors have been going on for 25 years. for us, moore's law is alive and well. he continues to drive cost down and performance up and it is the driver of our business. unquestionably change the world. it is essentially a marketing goal. it is a scientific research goal. it

here andt after 5:30 new york, i am joined by paul allen with a look of the markets.to you. : good morning. trading has been underway for 30 minutes and new zealand, flat, barely two points right now. a quite finish to the week around the region. futures are slightly off, and sex futures up by just five points. still could be a few things to watch today in about 10 minutes time new zealand, it will release its trade balance for february, expected to come in one hundred 26 million u.s. dollars. currency met with there. that will keep an eye in evolution, it is being reported that the city is seeking bids for block trade in the gold miner treated price ordered a reasonable discount to this. elsewhere plenty of press earnings post press conferences from china mobile and cnooc and samsung -- 80 him since the original jay y. lee trade that could be a lively one. i'm paul allen in sydney, or from bloomberg technology next. ♪ caroline: this is bloomberg technology, i am caroline hyde. as we mentioned at the top of the hour, alphabet shares have been under pressure since thei

in paul allen has a look at the markets. a prettys looking like quiet day around the asia-pacific.ex is looking pretty flat. nsx futures are pointing that by just five points -- asx futures are pointing up by just five points. a billionaire was behind the purchase that sent the stock storing -- soaring. over in japan, the nikkei futures are looking a little weaker. keep an eye on toshiba today. that company has been having a pretty bad year. there will be an extraordinary shareholder meeting today, where shareholders will get to question management for the first time about the u.s. nuclear unit bankruptcy and the sale of the possible chip unit as well. i'm paul allen in sydney. more from "bloomberg technology" next. ♪ this is "bloomberg technology." as we mentioned at the top of the hour, u.k. prime minister theresa may has officially triggered article 50, kicking off the formal process of brexit negotiations with the european union. technology was flagged as one of the british industries that would suffer the most in the wake of the brexit vote. access to funding and top tech head

i was paul allen live in sydney. the chinese side light out of beijing prayed we will be discussing more about the economy and china with our guest. he's president. we will talking about that and other implications. that interview that is coming up in just under 5 minutes from now. time to check back into the markets. coming through this thursday. jules? >> yesterday was -- see a bit of a blip. we have seen markets coming back. about 3/10 of 1%. cpoper higher by 5/10 of 1%. we did see that weakness coming through in copper in the last couple of sessions. by 2/10s sex 200 is up of -- australia's sfx 200 is up by 2/10 of 1%. they were the markets week hit hard during yesterday's session. we have seen the nikkei on that lunch break up i about 1/10 of 1%. the japanese yen being sold up -- sold off against the dollar. trust me on that one, down by about 1/2 of 1%. a little bit of weakness coming through in those safe haven assets that were in demand yesterday. this is a three-day chart of the and it is also rebounding, co

i'm paul allen in sydney.om "bloomberg technology," next. ♪ cory: this is "bloomberg technology," i'm cory johnson. we continue coverage of ibm's cloud focused event. they gathered in vegas. we heard from the ceo ginni rometty earlier this hour. caroline hyde is on the floor with more. caroline: i am, indeed. i spoke to a man passionate about the changes in the workplace with ai, but also concerned about the changes in workplace with-- ai. we are talking about salesforce ceo marc benioff. >> what we have been able to do is find a way to work with both companies together a great example. if you probably know, crazy hailstorms we had last week -- we managed five of the top insurance companies in salesforce. those companies want to know when the hailstorm is about to happen. they want to notify those customers to put their cars in the garage. it will save them a lot of money. the combination of ibm and salesforce lets us do that, because watson will tell us what the weather is. we are able to notify customers to

i am paul allen in sydney.om "bloomberg technology" next. ♪ caroline: welcome back to "bloomberg technology." i am caroline hyde. the snap ipo came with a lot of fanfare. it also brought a lot of scrutiny for snap which has been slowing user growth of late. public, not one analyst gave the company a buy rating until now. james cakmak just initiated coverage on snap with a buy rating and a $25 price target. he joins us now from new york. with me in san francisco, cory johnson. we are going to battle it out and see what the views are from james. $25 price tag. you say there is substantial execution risk but are prepared to give the benefit of the doubt at this stage. what are you giving the benefit of the doubt? what numbers do you need to see to substantiate this valuation? >> you need to see a steep trajectory in the revenue curve. threet boils down to is things. one is innovation on the camera. we have not seen that much innovation since the invention of the digital camera in 1975 aside from pixel quality. as

we are joined by paul allen with a look at the markets. paul: good morning. a roaring start in new zealand firm -- for the fed decision, futures are pointing higher in australia, better than happy percent right now. and we saw the aussie dollars bike after -- spike after the decision. any change to the cash here and i'll still yet in terms of the upward -- in australia in terms tricky because of the level of household debt. bank of japan holding a meeting today, but we do not expect any change in there. and the features are looking mixed. we are looking at cap a specific shares. the airline announcing their first net loss in eight years, $74 million, hurt by the falling yields in the passenger department. i'm a paul allen in sydney. more from bloomberg technology, next. ♪ ♪ this is "bloomberg technology." more than 50 tech companies have filed briefings against the revised executive order on immigration including dropbox and airbnb. the latest ban prohibits travel from majority muslim countries and is set to go into effect on thursday. it is being challenged

paul allen has the latest. >> a bit of a lift.talking about a record, a january trade balance of 1.3 billion dollars. of that is one third of what was estimated. billion.xpecting $3.8 we had a record in december of $3.5 billion. january imports rising 4% from a month earlier. exports following 3% from a month earlier. this is perhaps why that figure coming in weaker than expected. steep, ie dollar qualify that, it is off a little bit. iron prices oil and continue to surge. a that drove the strong december number that we got. and a strong fourth-quarter gdp figure on wednesday. just to recap, that trade balance coming and far weaker than expected. still a surplus, but only $1.3 billion, yvonne. yvonne: i will take it, paul. paul allen giving us australian trade balances numbers. the aussie dollar falling 4/10 of 1% in the wake of that. let's get to first word news. confirmedt parent has it is pricing its ipo above the marketed range. shares will be $17. giving snap a market value of at least $20 billion. snap is the first technolog

i'm paul allen on sydney.n -- more from "bloomberg technology," next. ♪ caroline: this is "bloomberg technology." i'm caroline hyde. back to the top story this hour. in the landscaper tech startup funding, we discussed a handful of software companiesare living in snap's -- in snap's footsteps. it is unclear whether other unicorns will follow. their shares continue to slide here at access to capital on the private market appears readily available, given airbnb closing a $1 billion round. joining us more -- for moore is bill malloy and mel murphy. us.k you for joining snowing in new york. see inhat do you everything that is spelled that way? >> from our way, it is just an amazing game. i think what the executive team has been able to do, starting on the small team, almost 60 team members is amazing. we are really making an investment in them as a team.the second thing is the market. the market for connected things continues to grow, and being able to have data layers on top of that that you can visualize and ent

let's get first word news with paul allen here in sydney. says president trump has lit a fire under u.s. business and consumer confidence. paris, he says he expects some of the trump administration's proposals to be enacted. jamie dimon has been a vocal supporter of the president's business agenda, saying the u.s. has a bright future if trump overhauls taxes and regulations and spends more on infrastructure. >> it seems like he has woken the animal spirits. of onethe ceos comes out of those meetings and says we have not had such a pro-business president since the founding fathers. i'm not sure that is true, but business confidence has skyrocketed. it is a growth agenda. j.p. morgan staff don't have to worry about annual performance reviews. they will happen every day. the company is introducing a mobile tool that allows for instant critiques. j.p. morgan says the program is aimed at fostering development of staff. the bank said it found many employees crave constant feedback. indonesia's central bank has signaled that may be ending its easing

i'm paul allen. this is bloomberg. asian markets are shaping up so far on this wednesday morning. here's sophie kamaruddin. sophie: we are seeing weakness across the board, with shares in tokyo leading the drop among major markets in the region. the nikkei 225 extending declines for a second day. i want to hit on one of the big things we are looking for today based on what paul just mentioned. a boost from saudi arabia in terms of oil output in february. rebound when it comes to crude prices, wk up about 1.4%. industry report showed u.s. stockpiles may have fallen last week, although we do have u.s. government data due later wednesday, showing that stockpiles are to rise. there are conflicting signs on what the output is according to the u.s.. below 7%,lling snapping a three-day rise. shares have dropped about 24% this year at the tokyo stock exchange has put it on a watch listing as toshiba seeks to repair its balance sheet. mitsubishi heavy in the other direction, gaining over 3.5%, gaining for a fifth day. they have

i am paul allen. haidi: thank you for that.g markets: asia" i am haidi lun in sydney. rishaad: i am rishaad salamat. we saw the close-out of the morning session in tokyo. checking the pulse of investor sentiment. yes, japan is better than the early session, the yen retreating a little, up like .2% on the topix index, a huge rally in japanese equities up 1.2%. juliette: they are still holding on to those highs of december 2015, some upside in the china morning session on the csi 300 index come up by .3 percent, and a solid rally in hong kong. australia is down to the downside, down .2 percent, mixed commodity picture hurting the aussie market. we have had that ppi data from japan. i want to show you one of the charts on the bloomberg. china have tond bring consecutive sessions of ppi coming through, so paving the way for stronger consumer inflation. we are watching that number. japan producer prices came in line with expectations year on year, a rise of 1%. this is the first time china and japan have rising ppi for to bring cons

let's get to first word news with paul allen in sydney.highest level in more than a month. seen as an easy winner in the dutch election. his victory over the anti-islam party brought concerns over the rise of right-wing nationalism in europe. the euro headed for its biggest advance, extending the gains made after the earlier fed .ecision to raise rates aing russia of masterminding broad scheme of cyber and intelligence gathering. authorities have indicted to russian security agents and a pair of hackers. only one person has been arrested. one at yahoo! has compromised the information of millions of users. has denied aance deal with a manhattan office. numbered news reported monday that it would have made kushner partners in the deal. than $400 firm more million. the enough says they have no investment in this deal. blocking japanese products that may be contaminated with radiation. the statement came after the company was named in china's annual consumer rights on state television. they have taken action against more than 4000 businesses a

i am paul allen. thank you., well, we could be looking at a better start, but this is what we have. markets phase, yields on the way up, so a decent session as far as fixed income, but everything else comes down to the dollar and what is happening across the currency space, right? sophie: it is still early monday, so don't jinx us just the gmm take a look at function on the terminal. volatility up, the kospi falling, but not much reaction to the decision to arrest park geun-hye. dollar slump, yen on the of the ascendancy. s&p futures are also looking week, the u.s. benchmark on track for its worst month since october. as markets are digesting with what we saw friday, traders seem sanguine about how deep losses could be this week as focus shifts to capital tax reforms. trump in congress cannot afford another humiliating defeat. emerging-market stocks are climbing, set for again. you have the yuan rising to a four-week high, the pboc fixing the yuan by the most in a month. the ringgit is eyeing that for 42 su

i'm joined by paul allen with a look at the markets. paul: good morning.land is up and running. trading for about 30 minutes but looking very flat. here in australia, futures pointing flat. futures are mixed. we are going to be keeping a close eye on the retailer here. 10% of the shares changed hands in the final 30 minutes of trade on monday. a profound impact on the stock price, shooting up the most on record. the buyer with a huge block of shares is unknown. and they would have an announcement in the next two days. also anticipating the arrival of cyclone debbie in the united states. withiait is a category four stm winds of up to 180 miles per hour. there have been evacuations. the region has shut down. watching that closely. more from bloomberg technology next. ♪ ♪ cory: this is bloomberg technology. we continue to watch the markets. stocks: lower for the seventh day of losses after the publicans failed to pass the highly anticipated health care bill. worries that the administration cannot give me the done after this. the nasdaq is managing to outperfo

paul allen in sydney. ,uch more ahead on daybreak sydni is soaring home prices have made it one of theost unaffordable places in the world. how that could affect the rba's rate decision coming on tuesday. haidi: and it has taken just a bek for the markets to doubting a rate hike to pretty much making a sure bet. haidi: i'm haidi lun in sydney. betty: and i am betty liu and new york. this is daybreak australia. we have another set of data to come, including the jobs report on friday. little changed from the day before, of slightly and health care financial stocks leading the way -- up slightly in health care, financial slots leading the way -- stocks leading the way. laser bank was down a little on friday, -- deutsche bank was down a little on friday, it could be up on monday because they announced they were reversing course. we will super that goes. exxon has been projected spending at about $22 billion. l mundo is seeking monday -- project. a new crude and snap ipo, everyone is excited about this. up 10%. and copper surprise. cover has been slipping, as traders are a rare desktop or h

paul allen in sydney with the details. coming in much better than expected. 1.1% for the quarter. .5% contraction we saw in the third quarter, so australia once again escaping technical recession. that is a long 25 years unbroken . we have a year on your figure of 2.4%. perhaps, none of us was terribly surprised, mainly because of the huge rebound we have seen in commodity prices over the past few months. iron or above 90 dollars per ton. about $90 per ton. call prices up strongly. we got a hint something was in the works as well on tuesday when the current account deficit narrowed to its lowest since 1979 with just $3.9 billion in the trade circles. strong, a record of 3.5 billion. household consumption was also strong. housing construction up, as protected. the gdp numbers for the fourth quarter are looking very good 31.1%, beating estimates. back to you. >> looks like the household spending consumer helping to drive that better than expected australia gdp number, just like in the u.s. today. let us get the first word new

i'm joined by paul allen with a look at the markets. good morning. >> good morning.still 90 minutes away from the open in australia. futures are looking up at the moment. we are expecting to open 17 points higher. futures were pointing up on monday as well and the index ended up down 18%. we just had one market open in the region. that is new zealand. currently flat after a fairly tepid lead from wall street. nikkei futures are looking positive. it might be worth keeping an eye on toshiba. we are waiting for a new deadline on earnings after they missed the boy 14 deadline when they released provisional numbers that confirmed the $6.3 billion write-down on toshiba's nuclear unit. plenty of data out today. china retail sales and industrial production are due in a few hours. it was reported last week factory prices surged at the fastest pace since 2008. in three hours in australia, we are expecting the latest business confidence numbers for february. that is to some of what we are watching around the region. more from "bloomberg technology" next. ♪ caroline: this is "bl

i am paul allen. this is bloomberg. haidi: thank you for that call.n just about an hour's time, we are setting up for our special coverage of that address by the u.s. president donald trump to the joint session of congress. we are getting more details i had of that in terms of what he may say. we just spoke to the newly confirmed commerce secretary. he told us the trump speech will leave debt be about laying out themes rather than providing details. getting thematic rather than details, it could be setting up a disappointment. also in that interview, we are looking at 2018 or this year being a good year for economic growth in the u.s.. they will be speaking about some of these immigration policies. we heard president trump telling tv reporters earlier today that he is open to a path to making legal some of the immigrants who are currently living illegally in the u.s.. there is no point in making a trade deal if you don't enforce them. we also got some comments through these prepared texts of the speech to congress. president trump will be talking abou

in hong kong , i am paulson the -- paul allen with the latest news.l trade could be setback decade of president trump or taxes thefs wto. he says antagonism between the u.s. and major partners would be bad outcomes after 30 years of globalization. chart has been acting a potential disruptions for some time. is shutting down its distress fund. they have been given the opportunity to shift money. there is a desire of hedge funds to shield themselves from quarterly redemption, which can be difficult. saysmer boj official japan may have a loss of $50 billion in fiscal 2021. and it could ease quantitative easing. they say it will continue to run until 2029. the governor has brushed off the details of what will happen, and -- when the unprecedented program comes to an end. french authorities joining a british inquiry into airbus about possible fraud, bribery and corruption related to third-party consultants. andus is cooperating fully has dropped the middle man in question and suspects -- expects guarantees to be restored. global news 24 hours a day powered

let's get the word from paul allen in sydney. can we expect new details on this trade relationship? >> one would hope so. had so far is broad strokes, the prime minister malcolm turnbull talking about how the trade relationship is going, what he calls the next level. liursday we had premier giving a well-received speech in which he said china would like to import more from australia, giving australian consumers more choices. he talked about more beef exports from australia to china, something we have been talking about this week. the two leaders are meeting right now. when the meeting is over, there will be a signing ceremony and joint press conference. hopefully we will have a few more details of then about what this means. betty: what is the rest of premier li's schedule look like for today? paul: he is wrapping up later this afternoon and will be meeting with the prime minister in sydney with ceos at a roundtable. then there will be a speech in the early evening. saturday it is slow-paced. he will be attending an australian rules football, it could be entertaining to watch him po

betty: thank you so much, paul allen in sydney.you want to follow the us trillion banks facing the follow thery -- banks facing the parliamentary decision, -- some of the events you may have missed earlier. it is your gateway to finding out and staying on top of the news. yvonne. yvonne: always good guidance from our folks. just ahead, will the u.s. declare a trade war against china? the five potential flashpoint. this is bloomberg. ♪ ways wins. especially in my business. with slow internet from the phone company, you can't keep up. you're stuck, watching spinning wheels and progress bars until someone else scoops your story. switch to comcast business. with high-speed internet up to 10 gigabits per second. you wouldn't pick a slow race car. then why settle for slow internet? comcast business. built for speed. built for business. >> 8:30 in singapore this morning. half an hour away from the open of trading in the lion city. i'm yvonne man in hong kong. betty: dark skies. i'm betty liu in new york and you are watching "different asi

i'm joined by bloomberg's paul allen with a look at the markets. good morning to you.0 in new zealand, so trading has been underway there for about 30 minutes now. the index is currently off about 1/10 of 1%. the new zealand dollar is heading -- holding steady at $.70 u.s. they held the cash rate at a record low, 1.75%, as all 16 economists surveyed predicted. they expect inflation to return to target over the medium-term. the nikkei futures are a little weaker this morning. a sx futures are -- asx futures are about 1/3 of 1% higher. keep an eye on $.10 -- tencent. they are planning to spin off their e-book services. trial is lee's resuming in seoul. shanginese premier, leaky isthe chinese pamir,remier visiting australia today. more from "bloomberg technology" next. ♪ caroline: this is "bloomberg technology." i'm caroline hyde. we've been covering the terror attacks in london all day on bloomberg television and radio. u.k. prime minister may said the parliament will meet as usual tomorrow. the deadly attack occurred just outside the houses of parliament in westminster.

paul allen in sydney. trade is also on top of the agenda, talking about rex it.heresa may will get ready to negotiate brexit. the u.k. officials are talking about that, warning it will come at a serious costs. kathleen hays is here with more. you know, we think it will be a fast process, but this will take several years. they have two years to negotiate. but time flies, and there will be a lot of pressure. 27is ironic over the weekend e.u. members joined together. one was not there. that was theresa may. they celebrated the 60th anniversary of the signing of the treaty in rome. and judd -- jean-claude juncker that it is a tragedy. as they leave, they must pay their bill, which is already a contentious issue. he keeps saying, you have to deter others. it cannot be costless. you have got to pay something for this, one of the reasons they will put that ahead of the negotiations. interesting that sweden, they are e.u. affairs and trade commissioner, minister, warned about is the uk's throwing down these big ultimatums, and you mentioned u.k. saying no deal will be be

i am paul allen with the first word news. from japan say toshiba has approved plans or its nuclear unit to apply for chapter 11 protection. there was a $6 billion write-down for westinghouse. the company's technology has about has to the world's reactors. westinghouse has been hit with the delays in projects in georgia and north carolina. north korea's new flight to people to five destinations. made headlines in 2015 when they were awarded just one star, the only carrier in the world at that level. turkey's government has criticized the arrest of a senior executive of one of its largest state open -- state-owned banks. he is accused of avoiding sanctions on iran, conspiring with eight turkish gold trader to launder hundreds of millions of dollars through the u.s. system. fell after the arrest. powered by over 2600 journalists in 150 bureaus around the world, this is bloomberg. have what is going on from japanese it shares, and the dollar-yen back up above 111. 1/3 of 1%.ng check out the nikkei 225. today, stocks gaining jumpi