let's get the first word news with paul allen. : president trump lectured nato allies, telling them they must pay more for security. the 28 alliance members are not paying what they should come and that is unfair to the u.s. the comments threaten to widen differences among nato members. the attack the organization as obsolete during the campaign, but has since toned down his rhetoric. president trump suffered the significant setback to his travel ban. the court refused to lift the nationwide block on the latest attempt to ban travel from six mostly muslim countries. the court said the order was likely to run afoul of the constitution's ban on religious dissemination. gm slumped after being accused of using defeat devices, equipping diesel trucks with software to defeat admissions. -- emissions standards. gm says the environmental damage could be worse than that caused vw case. gm says their claims are baseless. owners of luxury homes in manhattan are accepting reality. if they want to sell, drop the price. this year, the median ask

paul allen in canberra. take us through some of the highlights of the budget and some of the losers are the big banks in australia. reporter: that's right. i will give you some of the headline numbers first aired $29.4 billion. the dividends are narrowing in australia. there is a forecast return to deficit by the year 20242021. you can always get protest budget. there's a little action going on behind me now. sure if they were upset by the bank levy or not. some of the assumptions about do rely onto surplus some pretty optimistic assumptions about growth. for example, gdp getting to 2.57%, inflation above 2%, iron ore around $50 per ton by the march quarter. i spoke to scott morrison last night and asked him about these assumptions, whether they were realistic. >> our international forecast, they are actually more conservative than what the imf said. the domestic forecast, simply be consisted -- consensus of markets currently, they seem in a reasonable range consistent with our forecast. that is also true wh

let's get first word news with paul allen. : veteran msci ceo has told bloomberg that the inclusion of china's a-shares in the index next month is no means assured to. china was rejected for inclusion last year and is awaiting the msci's next classification review on june 20. fernandez says the timeline is tight for all that needs to be done. a-shares rose strongly through march, but have since declined. hard, process has been and there is still a lot of issues to resolve in a short time. mnuchin is hiring, trying to fill top positions by recruiting financial industry figures with job titles that don't require senate confirmation. aides withd for top the title counselor. the senate won't vote on any of them. administrations on both sides have used the tactic in the past. u.k. police say it is too early to know whether monday's attack in manchester was part of a terror plot. bombermed the man as the , and the times says he returned from libya three weeks ago. the so-called islamic state groups said he was linked to them. it come

i am paul allen. thank you.ed another missile, the ninth this year, seemingly in response to the u.s. beefing up forces in the region. we have been tracking developments of the story this morning. great to have you. we have seen the frequency ramp up quite a bit in the last couple of weeks. do expect this to prompt any kind of reaction from south korea, china, or the u.s.? >> we have seen statements condemning the missile launch. these are typical. they happen every time. this was a short-range missile. what would really ramp up tensions is if kim jong-un fired an intercontinental ballistic missile that would be able to hit north america, and that is what the u.s. is concerned about right now. that officialsd and leaders in japan, china, or south korea are stuck between ing a breakthrough or peace in the region. u.s. is claiming some credit, saying china is doing something by the fact that north korea has not conducted a nuclear test for fired an icbm sense trump took office, but at the same time, there is no pr

at first word news now with paul allen. l slumped after opec expanded outlook prescriptions for the next nine months, after having failed to lift the oil glut. it fell almost 5% as the cartel and producers agreed to prolong the quotas through march. non-opec members will join. there is no reason to further the plan. >> the agreement has expanded the mandate. it takes a very close look at the market and what is happening there. if necessary, if adjustment they wille needed, adjust behavior, actions. we believe it is necessary for all countries. market, and the oil to do everything necessary for stabilizing the market. for the benefit of producers and consumers. paul: the u.k. election campaign resumes friday, after having been suspended after the manchester bomb attack. theresa may asked for tighter security after the blast. opposition leader jeremy corbyn says it is not working. polls position -- opinion show leaders slipping with 5%. as wide as 24 points earlier. former bond traders accused of lying to clients have not said

let's get to the first word news with paul allen. utes indicate a rate hike in june, with reserve officials judging the time to tighten policy would soon be appropriate. the minutes show most participants favor a hike if economic indicators remain in line with expectations. three increases, including the one in march, our forecast this year as officials look to shrink the feds $4.5 trillion balance sheet. u.s. bankers could be handed a competitive boost over there european rivals, which are facing a crackdown over lending to indebted companies. last week, the ecb published a blueprint of new guidelines on leveraged lending at a time when the trump administration wants to ease restrictions on wall street. the new ecb standards are enforceable no matter where the jurisdiction. philippine president rodrigo duterte says he may place the whole country under martial law if the violence spreads to the main island. speaking after cutting short a trip to russia, he said if the so-called islamic state is seen expanding its influence, you might

let's get the first word news with paul allen. of training glut are being undermined by an iraq as a punt 80,000 more barrels of oil a day then the quarter permitted. expected beions are extended through next march when opec meets this week. iraq's noncompliance may persuade others to break the agreement as well. india says there should be no asia premium on crude sales. the oil minister talks with opec's secretary general in vienna and said the cartel has subsidized western buyers of the cost of asian clients for too long. oil, imports 86% of its and 95% of lpg from opec. the european union has finalized toough race it position marie iterating a hard line on the u.k. divorce bill and refusal to discuss trade. accounts must be settled on both sides to build trust. xit bill has been put as high as 112 you and dollars based on past commitments to the eu. president has told prime minister benjamin netanyahu that iran will never have nuclear weapons and called for peace for palestinians. itsays he prefers to leave to both sides to sor

i am paul allen. haidi: thanks for that.l in extended trained after second-quarter iphone sales disappointed, earnings ahead of forecast, although revenues fell short. what does it mean for apple suppliers? our gadfly columnist joins us from taipei. is this just the cycle of innovation when it comes to smartphones coming home to roost? ofit actually it is a case as tim cook pointed out that a lot of people have been leaking too much information about the iphone and there is a lot of hope and expectation and they may be holding off on a purchase. the two largest companies trading in taiwan are both up, taking the taiex towards 10,000, so there is a lot of hope and believe this will be something in the third quarter. unfortunately that is hurting in the second quarter, so it comes down to will this hype and hope to be realized or will there be disappointment in the third quarter when the phone finally comes out? that even if sense they really managed to it will probably not reach expectations. the more hype you have, the harde

i am paul allen. angie: coming up this hour, netflix's main competitor in southeast asia is making a major push into emerging markets. we speak to its head about plans for expansion. next, board member for the german bund's bank joins us to discuss policy, risks, and brexit. this is bloomberg. ♪ ♪ daivd: this is "bloomberg markets: asia." . am david ingles angie: i am angie lau. noble requested a trading halt after continuing its plunge towards an all-time low. s&p global rating says it could default within the year and cut its long-term rating to triple c plus. singapore listed noble stocks and bonds have consistently fallen since 2011 on concerns estimated liquidity will not cover the debt due. reports from japan say sharp will release its profit forecast through next march. accompanied will be by a three-year business plan. the nikkei news says it is expecting net income of $360 million, and revenues of $20 billion. the european union has finalized a tough brexit position, reiterating a hard line o

let's bring in paul allen. what a difference three years makes, right? is is more of a labor policy than coalition. take us through the highlights. paul: yes, that is what much of the commentary is saying. the deficit disaster of four years ago, we don't hear about that anymore. all that spending on infrastructure. $29.4 billion -- it is coming down. it was forecast by the 2020-2021 budget. it's to peak in 2018 and falling back to a .5% of gdp -- 8.5% of gdp. it's clearly to protect australia's aaa credit rating. i spoke to the treasurer scott morrison and asked him if he thought he had done enough to achieve that. >> it has to be a matter for the writings. a balance of 2021. ensuring the measures included in the budget, measures we can reasonably expect for a forecast and set that is in the conservative range. i think the budget addresses all three of those things. what it does rely on some some colleagues are calling fairly heroic assumptions surrounding growth forecasts, particularly wage growth forecasts. noted: the budget as we also targeted the big

joining us from sydney is paul allen. how did these results actually stack of? : the good news was the cash 9 australian dollars. and $.90, that was in line with expectations. the bad news with the -- was the net profit margin, narrowing. million to $394 million. they spoke to the media after and called the environment challenging. he was cup half full. here is what he had to say. performance ofl the bank is sound, we improved profit, managed margins, grew revenue, managed costs, and maintained dividend that $.99 a share. our return on equity, $.14, is pleasing. that comes from having a strong bank. our balance sheet is stronger. paul: we have a couple other due earnings did -- do -- in the next few days. yvonne: thank you so much, paul allen. we have another big bank getting set to report their results in a few hours. for proofysts looking their stabilizing their top line. it dropped to 9% from a year earlier to $12.6 billion. after five years of declining revenue, they have had $3.5 billion of share i back -- buybacks. we will have more with our asia finance ed

let's get first word news with paul allen. are saying the weekends attacked will continue claiming victims. the malware uses a technique stolen from the nsa. it affected the british national health service, russia's interior, ande fedex. >> this is something we have not seen before. the latest count of countries is over 200,000 victims in 150 countries. the un security council will discuss north korea's latest launch, seen as a direct new southto the korean president. it reached an unusually high nottude, however it is thought capable of reaching the west coast of the united states. reports from japan say toshiba may win a government guarantee for almost $8 billion in loans. the financial times said the state investment fund may take control of toshiba's chip business. the deal would include $2.7 billion each. precision hon hai seeking a loan a $15 billion for the chip unit. taking the lead on building two work at thetors, power plant in georgia could start as early as next month. the atlanta-based utility says it is working o

here is paul allen. paul: thanks. un security council is to discuss north korea's latest missile launch, which is seen as a direct challenge to the south's new leader. sea ofket landed in the japan after reaching an unusually high multitude come although not thought to be capable of hitting the u.s. west coast. president trump and south korea's president said they will meet kim jong-un under the right circumstances. the weakens unprecedented global cyber attack will continue claiming victims even as system start returning to normal. malware uses a technique reportedly stolen from the nsa. it affected the british national health service, russia's ministry of interior, germany's rail system, automakers nissan and fedex. nothis is something we have seen before, the global reach is unprecedented. the latest count of countries is over 200,000 victims in at least 150 countries. reports from japan say toshiba mate when a government guarantee for almost $8 billion in loans. the financial times said the state investment fund m

word newsfirst with paul allen. ul: strengthening global trade help china's profits rise 14% to more than $83 billion, building on a jump of almost 24% in march, and 8.5% the year before. the national bureau of statistics and 38 of 41 industries have achieved better profits in april than a year earlier thanks to stronger overseas demand and investment. british airway says most of its computer systems are running normally again after a weekend crash that disrupted hundreds of flights from heathrow and gatwick. the ceo says the carrier plans to operate all long-haul services into and out of london today, but the after affects of the weekend direction -- disruption will mean delays but it hit check in, baggage check-in, and reservations. angela merkel has given the strong as indication yet that europe is drifting away from the u.s. under president trump. an eventto voters at near munich, she said relationships forged since world war ii are "to some extent over." she said europe must now plot its own course and not rely

of reforms at the top of the new president's agenda.let's get the first word news you with : -- paul allen. paul: national security master -- security advisor h.r. thatter is denying president trump revealed classified material to the russians. times says the president jeopardize a critical source of intelligence on the so-called islamic state. neck master says he was in the disclosures did not happen. >> to cut the other senior officials were present, including the secretary of state, remember it being the same way. the on the record account said account those of anonymous sources. i was in the room. it didn't happen. paul: bloomberg has been told that attorney general just the his deputy have made eight -- met eight potential replacements for the fbi director. the white house declined to say whether president trump will hold personal interviews before leaving for the middle east friday. toshiba slumped at the open as its dispute with western digital turns bitter. toshiba wants to block their partner from the flash memory sections of their share. western digital invoked an arbitration cla

we have first word news with paul allen. korean president moon is-in has told china he aware of concerns about the u.s. missile shield and will try to resolve the problem. in a phone call with president xi jinping, he said it would be easier to settle differences if north korea were to stop being so provocative. president xi jinping to examine restrictions on korean companies working in china. likehizer clear as the u.s. trade representative. the white house told lawmakers that china is one of america's leading trade problems. preparing for a widening of a ban on laptops and large electronic devices on planes bound for american airports. they are meeting the department of homeland security to discuss the decision, though it is not clear if there will be an immediate announcement. the march ban affects flights from eight countries in the middle east. the company clung to the family of president trump's son-in-law says no one tied to him will be at a presentation for chinese investors this weekend. withdrew fromies the event af

yvonne: let's get the first word news with paul allen. paul: the u.s.said president trump never intended to tear up nafta but it requires a thorough revamp. speaking in washington he said the guiding principle that will be "to do no harm." russ says he wants talks with congress by july has big changes will require approval on capitol hill. he also says the window to change nafta remains open through the -- to next generally. a malaysia airlines flight turned back to australia after a passenger tried to enter the cockpit. back in28 landed melbourne. the carrier has offered no further details. malaysia airlines is recovering from two fatal and unexplained disasters in 2017 where a flight banished en route to beijing and mh 17 was shot down over ukraine. a woman linked to the scandal that toppled south korean leader hai has [inaudible] made headlines when it was revealed that samsung paid i -- $850,000 to buy her a horse. part of the widespread corruption in korean clinical and business circles. reports from japan say toshiba will not release or will delay

let's get the worst word news with paul allen.resident refuses to resign, saying the supreme court investigation will clear him of an allegedly ever up. claims her up approved hush money. the currency, stocks, and bonds tumbled. the bank of brazil were among the it is losers. has targeted seven entities and two individuals, including the ceo of booze allen hamilton. iran votes today in a presidential election seen as the most important since the founding of the islamic republic. it is a street fight between the incumbent and a hard-line cleric. the economy has been the major issue. recordi is defending his the opponentent -- says -- shares initially fell the most in a year, seeing their biggest drop since june. but recovered to close in positive territory. global news, 24 hours a day, powered by 2600 journalists and analysts. i am paul allen. >> thanks. the presidential drama in washington over his alleged links to russia. whether president trump try to derail an fbi investigation. he has categorically denied thehing and says he i

i am joined by bloomberg's paul allen. good morning. paul: good morning, lisa. we are seeing good strength on the nikkei futures out of chicago, up by more than 1%. we are waiting to hear the release of the third-quarter trading on the commonwealth bank of australia. that is the biggest of the big four banks. i'm in canberra for the big story of the day, the release of the australian budget. we are expecting the deficit to come in a little bit lower and for the budget to return to surplus by the end of the decade. that might be based on some reasonably optimistic growth assumptions. it's also a big day in south korea. polling day. an election to replace the former president, park geun-hye. one of the key themes is the dissembling of a big family conglomerate. also watching earnings from mitsubishi motors and subaru. i am paul allen and canberra. more from "bloomberg technology" next. ♪ >> welcome back to this special edition of "bloomberg technology." i'm caroline hyde. we are live from boston, showcasing the innovation and diversity of the tech economy. opened

over to paul allen with more.ncouraging developments since the last cash rate meeting, right? reporter: that's right. we had the inflation rate with crept back into the rba target band between 2% and 3% inflation in australia, now running at 21% -- at 2.1%. for years now, it has been saying that it can't handle stimulus on its own, which has been gently prodding the government to do something. last week we had the treasurer scott morrison suggest the government may be about to redefine the way it explains debt in the budget so it can borrow these low rates, get a good deal locked. in, and start investing in infrastructure if you keep it up -- locked in, and start investing in infrastructure. economists are unanimous that the bank will stay on hold at 1.5% this afternoon. so it is all about the nuance around household debt and weak wages growth. betty: it certainly is, given the fact we see the case against rate cuts seems to be getting stronger. yvonne: elsewhere in australia, you have been watching the first aust

i'm paul allen in sydney."bloomberg technology," next. ♪ emily: this is "bloomberg technology." i'm emily chang. bitcoin has risen more than 100% in the last two months, but critics say the digital currency is showing signs of a bubble. in the last week, bitcoin hit an all-time high only to slumped down. this is the kind of volatility ears worried. joining us to break it all down is olaf carlson. poly chain is a hedge fund back to buy andreessen horowitz.also, our editor at-large, cory johnson. >> we have seen really fast recently.bitcoin this is an uptake coming from an industry that hasn't been moving as aggressively and the public radar -- in the public radar, but now that the growth in prices is closely tracking fundamentals, we are seeing uptick. emily: some people say bitcoin is like gold, a finite resource, and therefore not as interesting. what's your take? cory: i think gold is fascinating, personally. that it's true the way bitcoin is constructed that it is meant to be finite.. it is harder and harde

we are joined by paul allen at the look at the markets. paul, we had records on wall street. that is right, and we do have features up a little bit. we will be watching the oil space after the oil price fell. be impacteds will by that. that failed to provide a timetable on that. this is showing modest gains out of chicago. we're waiting on cpi out of japan for april and looking for a gain of 4/10 of 1%. it's an improvement on the march figure and we're looking for the good gdp numbers coming out of japan recently. asia would one stock that's asia is one stock to watch. this is after net profit fell to $62 million because of a slump in the first quarter profit from the long haul carrier. -- gdptching out for ddp out of sydney. i am paul allen, and more from bloomberg technology next. ♪ emily: i'm emily chang, let's get back to the top story this hour. stocks get to new records reaching the three major averages closing at all-time highs in the s&p 500 is extending to the longest win streak since february. tech stocks push to a six-day rally. thanks thanks, google, amazon, micro

i am paul allen.s is bloomberg. >> we are getting breaking news right now. that is the boj governor kuroda speaking at this conference in tokyo. there is some headlines coming out right now. he is saying that monetary policy is not for fixing inequality, but they pay attention to this. but also, monetary policy, saying that many agree the industry has fallen in recent years. almost kind of stating an observation already in the markets, but just saying that many agree that the natural interest rate has fallen in recent years. we are watching more for comments related to inflation and their inflation target and also their balance sheet. the bloomberg global economics and policy editor kathleen hays, monitoring these headlines. what do you make so far? is there expected to be any big news from this? kathleen: you never know. i don't think he is taking questions. if he does not take questions, we want to get extra digging. i want to remind our bloomberg users you can follow us online. we are carrying the

i'm paul allen in sydney.bloomberg technology," next. ♪ emily: this is "bloomberg technology." i'm emily chang. let's get back to our lead, the fallout over claims that president trump discussed highly classified intelligence in a meeting with the russian foreign minister and ambassador last week. this, paired with news of a massive cyber attack that has swept the globe, has huge implications for the intelligence community. joining us from l.a., nick bilton, special correspondent for "vanity fair."is the author of a new book about the criminal mastermind behind the silk road. in writing this book, you got an up close and personal look at the cyber underworld. we have a situation at the white house changing minute to minute, a potentially warmer relationship with russia. how do you think this is impacting the cyber threat landscape? >> i think the landscape is becoming the new threat landscape. we are entering an era where everything is connected to the internet. as we saw this weekend with the ransomware attac

i'm paul allen here in canberra.om "bloomberg technology," next. ♪ caroline: welcome back to this special edition of "bloomberg technology." i'm caroline hyde. we are live from boston all this week, showcasing the innovation, diversity, and power of the cities tech economy. one thing boston is known for is the booming biotech scene.one major player in the scene is bloomberg bio. the company's platform and company -- is in gene-editing. glaxosmithkline will pay undisclosed sums to license technology to delivering genetic material sending us is. the ceo of bloomberg bio, nick leslie. it's a little chilly for us. therapy,ow your gene vis-a-vis the competition in boston or abroad, compares. >> gene therapy is a broad space. come is the impact it is having on patients. of geneept and promise therapy is to alter disease, potentially cure disease. that is the big differentiator. there are some really terrible ableses and we have been to announce small numbers of patients, but going from not but ameliorating, potentially cur

i'm paul allen in sydney.om "bloomberg technology," next. ♪ emily: this is "bloomberg technology." i'm emily chang. former cia director john brennan testified before the house intelligence committee tuesday. for the first time, he publicly said he was concerned about possible ties between russia and the trump campaign, saying that russia "brazenly interfered" in u.s. elections, including actively contacting members of the campaign. he stopped shy of calling it "collusion." he also says he's concerned over reports that president trump shared classified information with the rushes -- russians on may 10 in the oval office. >> i don't know what was shared in the oval office, but if the reports in the press are true that mr. trump decided to spontaneously share intelligence with the russians, i think he would have violated two protocols. emily: our global news reporter joins us from the -- washington. what where the biggest revelations from the testimony today? reporter: good afternoon. i think the big takeaway tha

we are joined by paul allen with a look at markets. e nikkei is closed again in japan for a holiday. asx futures slightly weakening for a third day in a row. we are waiting from national australian bank. that's after results of 3.2 billion australian dollars expected there. reserve bank governor philip lowe will be giving a speech in brisbane on household debt and prices, topics which he perceives to be the biggest risks to the australian economy. we will also have the trade balance for australia out in march. another surplus expected, thanks prices.g iron or also, watching third-quarter trading up from qantas. south korea foreign reserves and current account as well. i'm paul allen in sydney. more from "bloomberg technology," next. ♪ emily: this is "bloomberg technology." i'm emily chang. let's get back to our top story. earnings season rolls through with facebook and tesla reporting results.the automaker confirming the highly anticipated model three is on track to begin production on time. ceo elon musk says the company is on time to

we are joined by bloomberg's paul allen with a look at the markets. good morning. od morning. we are seeing asx futures pointing down about 1/10 of 1% week inhe trading australia. keep an eye on banking stocks. a meeting between bank executives and treasury about this new levy the government intends to impose raising more questions than answers in terms of how that is going to be calculated. nikkei futures traded out of chicago, down about 0.5%. keep an eye on nissan, forecasting a 7.5% drop in profit. a lot of earnings out of japan, as well. yamaha, and is zoo zoo, among them. south korea, and exciting day -- the biggestday for ipo in south korea in seven years. that is a big one to watch in the asia-pacific. i am paul allen from sydney. more from "bloomberg technology" next. ♪ caroline: this is ."loomberg technology i am caroline hyde in boston. we have been visiting different locations in the city to showcase the power of the regional tech economy. at ge's interim headquarters in boston, in the last hour, we took a closer look at the investment climate in the cit

we are joined by bloomberg's paul allen. he has a look at the markets for us. good morning, paul. we are seeing a little thisgth on asx futures morning, up by about 12 points. the new zealand dollar has taken a steep fall in the past 30 minutes or so after the reserve bank of new zealand decided to keep the cash rate on hold at 1.75%, as expected. however, the bank saying it expect rates to remain accommodative for some time. in japan, nikkei futures looking mixed. looking toyota motors forecast operating profits of $14 billion in the year to march. it's going to buy back $2.1 billion in shares. if there is a back-to-back decline in profit, that would be the first since 1994. in singapore, keep an eye on this group. first-quarter results are expected aftermarket. it could be a bit ugly. we are expecting a loss of $130 million on wrong way bets on coal prices. they have been struggling with changes in senior management and criticism over the way it handles some of its accounting methods. keep an eye on balance of payments for japan for the month of march. i'm paul allen in sydney.

i'm paul allen in sydney.om "bloomberg technology," next. ♪ emily: this is "bloomberg technology." i'm emily chang. let's get back to our top story. apple's second-quarter results. the stock casting a huge shadow over the markets. it is the top performer in the dow this year with a 27% gain. wall street analysts have 39 buys on the stock and gina barton adams, chief, equity strategy that bloomberg joins us. earnings,en watching up 27% here today. -- year two day. reporter: i guess investors are willing to pay for it. it is one of the strongest performers in the tech sector and broader markets. it's interesting because investors seem to be looking forward to better times ahead. when you look at apple's results over the last couple of quarters, they actually seem to be losing a bit of their punch on traditional earnings and revenue. if we look at apple's share of the index, and actually peaked several years ago. it has been on a comeback as investors have piled back into the stock, but i think the company has a

in hong kong , i paul allen paul allen with the latest first word news. from europe say the u.s. is considering extending the ban on laptops and other electronic devices from aircraft cabins worldwide. homeland security officials have told e.u. commissioners that washington may apply the ruling to all sites heading to the u.s.. the ample warning or change or be given to allow nations, airlines, and passengers to be ready. violence returned to athens ahead of a vote on a new austerity measures. lawmakers are debating fresh to bands -- demands from greece's creditors. newprime minister wants pension cuts and tax hikes through 2020 to release the next bailout installment. without that, greece will struggle to meet debt obligations in july. fox news founder and former presidential adviser roger ailes has died at the age of 77. 1996,nched fox in promoted a conservative agenda, but was ousted last summer under allegations of sexual harassment. the network said ailes fell in the bathroom of his home in palm beach last week, hitting his head and causing internal

us get to the first word news with paul allen. slump in the u.s.no sign of letting up, with sales falling in april. around 7% each. gm sales fell almost 6%. the slowdown was immediately reflected in slumping share prices, closing at its lowest in four years. pick for trumps ambassador to beijing says there may be a case percent sanctions against chinese companies that do is this with north korea. showed the --'s told the senate foreign relations committee that china needs to be convinced take the situation seriously. onre is a plan to take 10,000 american workers by expanding hiring in the u.s. while adding for research hubs. president trump signed executive order aimed at typing work visa outsourcing other programs to take a workers to america. on theckdown has weighed stock prices. apple falling in extended trade. sold 50.8 million phone in the second quarter against forecasts of it to 1.4 of 51.4trade -- million. investors are expecting in major iphone upgrade later this year. global news 24 hours a day powered by more than 2600 journalists and

paul allen joining us from sydney.ay saw bhp shale holding since 2012, that we could see further sales. what is this about? paul: this is something that elliott management was calling for an answer or, to unlock -- was calling for in its report to unlock shareholder value. bhp was strident in its criticism, saying they destroyed $41 billion in shareholder value in its u.s. sale. another $9 billion in overpriced share buybacks and criticizing bhp for it called a do-nothing approach for management, who rejected elliott's suggestions. anyway, it looks like bhp might be warming up to some of the ideas about the u.s. shale assets. andrew mackenzie was speaking in barcelona late tuesday to a conference there. he admits mistakes were made over the $20 billion u.s. shale assets purchased before the oil price fell. here is what he had to say. that the exactge position that took us into this business were poorly timed, that we paid to higher price. but early on, the rapid pace of development was too quick, and we have learned th

first word news with paul allen in sydney. thank you.entral bank has find credit suisse and the you will be following a two-year investigation into malaysia's troubled 1mdb fund.credit suisse must pay $500,000, and you will be has been hit with $650,000. lenders are being penalized for breaches of money laundering regulations and lapses of control. both banks say they accept the punishment and have put new measures in place. st. louis fed president says the latest temper -- taper tantrum is a failure of communication, not policy. james bullard says the economy is closed to the feds target, and the current interest rate level is close to appropriate. he also said it's time to consider unwinding the balance sheet and agreed with san francisco's john williams that it will be done in an orderly manner. >> if we communicate effectively, and i agree with john's comments that this is that the runoff in the balance sheet will go smoothly. it's going to be managed. it's going to be slow. it will take quite a while. the value of in foreign currenc

i am paul allen. thanks for that.de and the threat of protectionism dominated talks in hanoi this weekend. the postsummit statement made no mention of the pressure on ministers not to criticize the isolationist trend. haslinda amin is there for us. what was the mood over the weekend? think there was a lot of disappointment. you talked about how the word protectionism was absent. it was. we learn from the russian trade minister that that was a dispute among trade ministers. agreed onrs everything he said, but one member disagreed on everything. that oned to say who member was, but the indications suggest it was the u.s. we know that robert light hiser was here and conduct did bilateral meetings with the trade ministers to get a sense of very fears. the members wanted to get clarity on what the u.s. policy is in this part of the world. the u.s. is looking to reshape the global trading system and once to put u.s. laws above international laws, including bt oh rules. president trump has said the wto is a disaster and he w

paul allen, thank you. looking ahead, we speak to advisert obama's former about south korea's option to relations with china and the u.s.. anchor:, china's second-largest e-commerce company finally posting a profit. we will take a closer look at jd.com. this is bloomberg. ♪ betty: this is daybreak asia. i'm betty liu in new york. yvonne: i'm yvonne man in hong kong. a slice of the u.s. market. jack moss andd by financials and clinched a deal to let users shop at 4 million outlets. dominate thencent market with a combined 90% share. alipay want to leverage that to millions of chinese travelers abroad. betty: struggling dairy company has written a demand for a a loan.ent of they are seeking $50 million that was due on april 28 plus more than $900,000 in interest. it has been frozen in hong kong since plunging on march the fourth. they may not return to trade without official approval. yvonne: marriott shares rising after the world's biggest hotel operator reported strong first-quarter results. growth inredict

and my friend paul allen and i actually snuck into the university of washington when they had computerst weren't being used at night. and so we were fascinated by what the computer could do, but very few people were getting exposure. we had to go out of our way, and we were lucky that we did it all. -- that we did at all. and so then when the idea of moving the computer onto a chip that intel would make, and it would make the computer literally millions of times cheaper than the ones we were using, so both more powerful and available to people on a personal level, then the idea of ok, it would be very different. the software you need and the way the industry would work. we were super lucky to be there when that was happening. david: so what did your family think? did they say there was something wrong with this young man? he just wants to do computers? bill: they knew that i was obsessed with computers. that i would skip athletics and go in overnight, and leave the house sometimes when they would prefer i wouldn't to go work at night on these things. and so, i was kind of considered a l

we are joined by paul allen. paul: good morning., you won't be surprised to learn our turning down and on u.s. turmoil. we also have jobless figures out of australia, and always notoriously unreliable number, but is estimated to remain steady at 5.9%. japanese futures are also low this morning. we are awaiting gdp numbers out of japan expecting growth building on growth we saw in the prior quarter. ofning in hong kong, revenue $7.2 billion there on record sales and profit. more from "bloomberg technology". next. ♪ this is "bloomberg technology." was thescussed, it worst day for stocks so far this year. tumbled the most is in september. the vix skyrocketed more than 30%, its biggest jump since brexit last year. the corporate finance system is a broken. that is what fred wilson had to say about early stage investing at the tech operates on wednesday. they say users should have access to investing in companies before they go public, not just extremely wealthy investors. have invested in a number of starters. we caught up with him at th

. -- paul allen. paul: more strength in asx futures come up .2%. eye in the new zealand dollar. budget asyce's first finance ministers due to be handed down at 2:00 local time. the surpluses expected to come $2 billion figure. and we can expect to see the generosity in the lead up to an election in new zealand later this year. weakerutures are looking traded out of chicago. south korea will make a rate decision at 9:00 local time. expect to see that rate on hold due to concerns over householdd debt. we are expecting gdp for the first quarter out of singapore. more from "bloomberg technology" next. ♪ caroline: this is "bloomberg technology." i'm caroline hyde in london. our top story to carson block's new search into snapchat. the short-sellers do not have a position investing against the company but it has areas of concern. let's take a look at the bloomberg. type in g#btv. type in 6944 and we bring you this chart. what we are analyzing his analyst target prices. we'retly the mean -- starting to see shares of snapchat in the yellow basically gather

yvonne: thank you so much, paul allen in sydney. to come with asia's first major market open moments away. we are watching quite a bit, korean come up and the elections. what we should be watching now. we do have japanese markets coming online for the first time since the last tuesday. there is a lot of catching up to do. we are watching automakers like mitsubishi, releasing earnings and sales updates. japanese cars made in the state surpassed 5 million for the first time. and cable stocks ahead of those selections. carmakers in the spotlight as they saw a drop in chinese sales for april. in facing economic retaliations for the thaad missile system in south korea. we will see if investors like westpac's report. take a look at asian equity futures, all higher on friday's rallies in the u.s. in europe -- and europe and reaction from macron's win. asian traders get a first chance to react to the trade data. gainat japanese futures, a of over 1% as the thing is trading the lowest in seven weeks, but signaling weakness on the eve of the

paul allen is joining us with the latest on this.the stocks of all the lenders have rebounded. investors are shrugging it off at the ceos are not letting it go. >> this could be a buying opportunity. the banks provide pretty steady and regular and impressive dividends. they were already blindsided by the levy that was announced on tuesday. bankr executives from the will meet with treasury officials today. in terms of how the levy will be set up, it looks like it could end up being passed on to consumers. the national australian bank ceos saying the tax cannot be absorbed. the former anz ceo mike smith said this is a measure you would see in somewhere like africa or south america. the government is really going after -- the banks have a public image problem, largely of their own making, with failure to pay off on insurance claims and another rather -- number of other scandals that have persisted over the years, combined with ongoing profit growth and apparent lack of contrition for it all. the government think it's onto a winner here

we are joined by paul allen with a look at the markets. good morning. paul: good morning.apan is closed again today for a public holiday, but trading as normal here in australia. futures looking weaker again for a fourth straight date. we will keep an eye on the quarry pang. it is reporting full year earnings. he medianest made is for $2.13 billion. the stock has been on a tear, hitting record highs. always expectations for this bank's earnings. lock og for a third quarter update on the airline qantas. keeping on the reserve back of australia as well, keeping up with his quarterly statement. we are going to get an update on inflation and growth outlooks as well as comment on domestic and international markets. globally, keep an eye on tobacco stocks as australia won a ruling on packaging. more from "bloomberg technology" next. emily: is this is "bloomberg technology." i am emily challenge. it seems like softbank has been a near constant source of fascination. a lot of the headlines involving around investing in big tech companies around the world. many wonder where this te

there is paul allen moments ago.n watch them live as previous interviews and dive into any of the securities or bloomberg functions we talked about. you can be part of the conversation by sending us instant messages by sending us messages during our shows. ♪ ♪ back. welcome this guy prefers to run a casino when japan legalizes gambling. they have not yet said where they will operate or who will think thebut they region is more fun. gambling is fun for a large number of people including the chinese who have gone to malcolm. toy have driven that stock be the best casino stock so far in 2017 of all the casino shares. ♪ haidi: it is 8:30 a.m. in sydney. we have futures moderately high, finished the session on friday off 0.7%. i am haidi lun. betty: i am betty liu, it is past 6:30 p.m. on sunday evening. people are getting a break from the markets. let's get to first word news with haslinda amin. haslinda: hong kong has criticized the decision to downgrade the cities debt grading. it was based on shallow evidence they say

we are joined by bloomberg's paul allen with a look at the markets. good morning. od morning. asx futures looking rather tepid, off about eight points right now. ride for a rough australian retailers over the past few months. asx has been underperforming globally. within that stock, the retail sector has been underperforming. we are expecting an increase in retail sales of 0.3% of april -- in april. we have had two months of contraction. elsewhere, nikkei futures are pointing modestly up. we are waiting on first quarter capital spending out of japan. out of china, the official pmi on wednesday. it remains positive. the private survey of pmi is excited to show manufacturing contracting to 50.1 from 50.3. a couple data points to watch out on south korea. trade numbers and consumer prices for me. -- may. more from "bloomberg technology" next. caroline: this is -- emily: this is "bloomberg technology." i'm emily chang. mary meeker just released her widely followed internet trends report. it covers everything from the cloud and internet advertising to wearables and music

[laughter] thank you for that, paul allen in sydney.ing down to the open of markets in hong kong and china, looking at the premarket. moved to the upside. we have a feeling of a rising tide in the asia-pacific. at 7382 chart.ok moving. in the cow this is what they look like premarket. seeing casino revenue, these green bars indicate how they have been growing. it is the ninth month of gains place.king as we get the return of high-stakes players to the over 16%b, receipts up coming in at 2.5 billion u.s. dollars in april. this is after being in the doldrums for so long, but i can tell you as we see the revenues rise, a are nowhere near the heydays of 2013 and 2014. a goodi'm looking at news story as well. good news all around as we start off the trading week. china banks have got all the earnings in, and it has been a pretty reasonable earnings season. we are seeing assets dissipate a little bit, or at least stabilize as easy, and breathtaking pressure when it comes to net interest margins. take a look at this chart. it seems as though t

paul allen in sydney. let's get to first word news with su keenan.u: let's start with softbank, and masayoshi son has announced the first round of capital investments for his fund. with more than $93 billion in the pot. headlining investors include the saudi public investment fund and abu dhabi, apple, foxconn, and sharp. it will top $100 billion when it finally closes in six months' time, and it will focus on startups in the u.s. north korea has vowed to continue its nuclear and missile programs after another test launch this weekend. the rocket flew about 500 kilometers across the sea of soul, tokyo, and washington saying it was a shorter range. they say they will continue to develop nuclear weapons and more tests. asia-pacific trade ministers issued a statement that talks in hanoi, suggesting pressure behind the scene, controversially -- talking about protectionism taking place. red tape andbout contrasted with their november meeting. the hanoi meeting also vowed to pursue a trade deal even without the u.s.. >> with unity of all the countries and

we are joined by paul allen with a look at the market. good morning. >> good morning.ld translate into gains in australia. futures pointing out .2% right now. rio tinto announced it intends to buy back to $.5 billion worth combats to trim debt and downturns in commodity prices. in japan, we are seeing modest gains on nikkei futures. an investorld meeting. it has been five years since the c.e.o. was appointed. the stock prices almost doubling. the headcount coming down by 37,000 and profit returning to the electronics giant. other things to watch out for today, earnings. we will have japan machine tool orders and cpi numbers out of singapore. more from "bloomberg technology" next. ♪ emily: this is "bloomberg technology." i am emily chang. japan's softbank announced it closed the first round of its long-awaited vision fund creating $93 billion. the fund will invest globally in private and public tech companies. peter elstrom joins us from tokyo with more. you have been doing reporting on this. what is the latest we know about what it took to get the deal closed? >> it di

i am paul allen. struggling commodity trader noble has been hit with a second cut in 10 days.gging down the company's ability to erase $2 billion of debt in the next 12 months. singapore-listed noble is in talks with banks to renew the facility that expires next month. toy expected the banks demand less favorable terms and some may walk away. membersrmer nomura bond accused of lying to clients have not said whether they will testify. audio recordings about one allegedly preparing to live. the case against them is nearing an end. testify not required to area they normally do not make a decision until it is complete. aey must pay a quarter of billion dollar to new york state for turning a blind eye to shipments of untaxed cigarettes from native american reservations that undermined anti-smoking efforts. the judges said ups failed to comply with a 2005 deal to fix the problem without going to court. rule on damages later. new york state wants more than 800 million in damages for lost revenue. global news 24 hours a day, powered by more than 2600 journalists and analysts in more t

we are joined by paul allen. he has a look at the markets. good morning, paula. >> good morning.ping up to be a positive day around the asia-pacific following encouragingly from wall street. we have nikkei futures pointing up strongly. asx 60 points short of the 6000-point barrier. a couple of things to watch out for on the markets today. to cash profit is expected come in around $3.8 billion. it is the first of the big banks to report over the coming week. all four struggling with margins. the big one today is the reserve bank of australia meeting. the cash rate expected to remain unchanged according to all economists surveyed at the record low 1.5%. it has had encouraging news with inflation creeping back into the target. other things to watch out for. japan and south korea out with services pmi. china will have the manufacturing survey. more from "bloomberg technology" next. ♪ ♪ caroline: this is "bloomberg technology." i am caroline hyde. a new development in the net neutrality debate. a u.s. appeals court says it will not reconsider its ruling to uphold the government's net

i am paul allen with the first word news. hna group has raised the stake and deutsche bank to almost 10%. the conglomerate first reported a 3% holding in february, saying it might increase that the wants to maintain below 10%. holding the black rock investment, which had been the largest taken deutsche, according to data compiled by bloomberg. new zealand's unemployment rate fell more than anticipated in the first quarter, returning to its lowest in 2008, thanks to the expanding economy. it dropped to 2.9% from 5.2%. the median forecast was 5.1%. employers can offer jobs without big pay increases. wages are rising at the slowest pace in seven years. atgapore-listed mobile group a seven-month low ahead of next week's stock consolidation. they are concerned if they will be able to overcome years of setbacks. shares have fallen slip -- sharply again today, having fallen 10% on tuesday. 11.2are dropping toward cents, the lowest since 2003. the slump in the u.s. auto industry shows no sign of letting up. the sales of all six of th