rakuten bank is set to start trading in tokyo following the largest ipo since 2018. banking unit of rakuten bank raised $619 million shares were priced at just over ¥1400 each, the top of the offering range. u.s. the stewards -- listed shares of tsmc sword after it reaffirmed its spending target this year and said it is sticking with earlier plans to spend as much as $36 billion to upgrade and expand capacity. despite week i electronics demand, profit grew 2.1% in the first quarter, marking the slowest pace in almost four years. buzzfeed shares were down almost 20% after the company said it will shut its news operation and reduce its workforce by 15%. its chief operating officer and revenue officer are leaving as part of the cutbacks. businesses news publisher insider is also cutting 10% of staff and the latest signs of retrenchment in the digital media business. plenty more to come on daybreak asia. stay with us. this is bloomberg. ♪ >> we do have breaking news out of japan, the consumer price numbers for headline inflation in japan year on year growth of 3.2%, matc

this is a very interesting start for rakuten bank. is a deal we have been following for the past two months since they announced that the listing would happen in tokyo. it was extremely curious to see them opening books exactly when svb was all over the place a few weeks ago. it was just before credit suisse went through the turmoil. a lot of people were skeptical that this deal would even price or go through. then what happened? they lowered the price for the offering and actually came up with a much lower size for the overall deal. in the end, they priced at the top of the new range. there was indication that the company rakuten group in the banks involved in the deal were willing to adapt to the scenario we just ascribed. at the end of the day, very good performance and good start for a banking stock at the time that banks are still in the middle of the turmoil. rishaad: what kind of message is being sent by listing and shanghai on the mainland with the drive to have more self-sufficiency in semi conductors as this i guess ongoing

[000:00:00;00] the enemy of rakuten, your blood is a betrayal. hello, a group of researchers developed an algorithm that makes it possible for drones to fly in and out of a closed environment without collision, thinking that the drones are closed like a greenhouse . there is always a risk of them colliding with each other. the researchers of the institute in order to avoid the possible collision and the cost of drones, massachusetts technology rewrote the previous operating system and now presented an enhanced version of it that collisions between drones do not occur. change gives and starts the optimization process, although the movement of these drones is controlled, but the new operating systems can advance the movement of the winds without collision. and tourist attractions centered on seno village , and the villages support the cultural activities of seno village by buying this magazine . it looked like 481 we published a quarterly magazine that was an evolution of the eye magazine. it was completely clear both in its design and in the conte

japan rakuten bank surged in the debut on the tokyo stock exchange it is downsized the ipo, but it was the biggest listing in four years. back here in europe, a group of credit suisse bond holders have filed a lawsuit against swiss regulators over the at-1 bonds the bonds wiped out as part of the restructuring program. the investors alleged finma acted illegally. the group represents $4.5 billion of the total $17 billion that was wiped out substantial. credit suisse shares are trading lower down 1.7%. you mentioned the protests in it paris in response to president emmanuel macron with the pension reforms. protesters stormed the offices of operator euronext the crowd carried banners with slogans to pay up to finance pensions here is a picture for you of the euronext stock not a lot of movement there. in the tech space, s.a.p. reported a 10% rise in first quarter revenue beating expectation thanks to the boost in the cloud business. you have s.a.p. shares trading higher this morning. frank. >> julianna, thank you very much happy friday julianna tatelbaum in our london newsroom >>> time f

yvonne: rakuten bank last week, certainly there brings a lot of optimism.st need more clarity on the boj. once we get this meeting underway, we will see what it means for dollar-yen because it seems right now as hsbc said, there is not much dictating what the boj is going to do to influence the currency, but any sort of tweak, anything about inflation outlook might add pressure or less when it comes to that trade. david: certainly if there was one central bank that could mess with the math this year it is the boj. yvonne: it is the wildcard everyone is talking about for this year. david: absolutely. and we are no longer at these extreme expectations we had a couple months back, but there was tremendous pressure for them to move and they shot back down. in terms of positioning, swaps, for example, we are no longer 1% and we are still higher than where the ycc ceiling is. the expectation is they will do something at some point. rishaad: that is a question of when rather than if. yvonne: vocal media talking about they are going to review policies for the last