that's correct he continued to run samsung electronics in december he oversaw a major cabinet reshuffle and again there's even a term for it here in south korea it's called jail management and the reason there is a term for it richelle is because this country has a history of allowing conglomerations and politicians to commit crimes and there have been historically tolerated people have not done prison time when lee was convicted last august and sentenced to five years in prison this was considered unprecedented because it had simply never happened and the hope was after months of major protests millions of south koreans had taken to the streets to express their frustration over corruption the hope was that this was ushering in a new era of accountability not only among the business community but also among politicians bear in mind that lee is part of a broader corruption scandal a scandal that brought down the former president pocket ruin hey she was impeached she is also in the midst of a corruption scandal or a corruption trial and what's interesting is now people are watching her tr

and a surprise court ruling the vice chairman of samsung electronics has been released from jail he was convicted last year on a number of corruption charges and sentenced to five years in prison and i reports from seoul where south koreans have been watching his case very closely. j. wiley was smiling as he walked out of a sore courtroom out of jail and back to his life as vice chairman of samsung electronics after a year in prison an appeals court freed him and dismissed most of the corruption charges against him. i think if you can get out. for economic reasons overall i think it was a good decision. lisa as he's used his time in jail to reflect. again i feel very sorry to everyone for not showing my best side and it has been a really precious time for year reflecting on myself. the first thing he did after being released was visit his father in hospital he's been incapacitated for three years prosecutors say it was least strategy to succeed his father as chairman of samsung electronics that got him in trouble. he's one character of many in south korea's largest corruption scandal in

and i think we saw a little bit of that last week when samsung electronics actually announced a stockit. a sort of opening up the floor for retail ambassadors, which is something it hasn't done for many years despite investors' call to do that. so i think it will be very interesting to see what kind of soul-searching, what kind of different samsung electronics that jay y. lee will make now that he gets to go home free, sri. >> exactly, the change needs in smith. thank you very much indeed for that >>> chiefs are not yet complaining about the rising oil prices speaking at a conference ahead at the singapore show, the rising costs for airport rising infrastructure pose a risk for the sector's profitability now shg, despite those concerns does expect 2018 to be another strong year. don murphy has more. >> reporter: asia is powering growth and powering change in the global airplane market international routes says routes to and from arab yar expected to add a whopping 2.1 billion new passengers in the next two decades. china, of course, plays a leading role in that growth story. it's also

in a surprise court ruling the vice chairman of samsung electronics has been released from jail jay wiley was convicted last year on on and. of corruption charges and sentenced to five years in prison and reports from seoul. jay wiley was smiling as he walked out of a sore courtroom out of jail and back to his life as vice chairman of samsung electronics after a year in prison an appeals court freed him and dismissed most of the corruption charges against him. i think if you can get out. for economic reasons overall i think it was a good decision. lisa as he's used his time in jail to reflect. almost again i feel very sorry to everyone for not showing my best side and it has been a really precious time for a year reflecting on myself. the first thing he did after being released was visit his father in hospital he's been incapacitated for three years prosecutors say it was least strategy to succeed his father as chairman of samsung electronics that got him in trouble. he's one character of many in south korea's largest corruption scandal in recent memory. it led to millions of koreans prot

in august for bribing the former president for her help in strengthening his control over samsung electronics one of the world's biggest tech.

as he walked out of a small courtroom out of jail and back to his life as vice chairman of samsung electronics after a year in prison an appeals court freed him and dismissed most of the corruption charges against him. i think if you're rich you can get out. for economic reasons overall i think it was a good decision a long time generals have gone out like you please says he's used his time in jail to reflect the will of the woman again i feel very sorry to everyone for not showing my best side and it has been a really precious time for a year reflecting on myself. the first thing he did after being released was visit his father in hospital he's been incapacitated for three years prosecutors say it was least strategy to succeed his father as chairman of samsung electronics that got him in trouble. he's one character of many in south korea's largest corruption scandal in recent memory. it led to millions of koreans protesting and the impeachment of president park geun hey last year prosecutors say lee paid or promised to pay forty million dollars to approve a merger of two samsung units he cons

leaving the sole detention center a free man if you would have predicted samsung electronics vice chairman. would be released when he arrived at an appeals court just a few hours earlier on monday the older girl again i feel sorry for not showing everyone my bayside and it has been a really precious time for you reflecting on myself i will throw and do my best the forty nine year old had been in prison for more than a year on charges arising from what's been described as asia's biggest corruption scandal that exposed the close ties between korea's family run conglomerates and its political leaders it's a scandal that eventually led to the removal of president park in the hague a lower court convicted be in august for bribing the former president for her help in strengthening his control over samsung electronics one of the world's biggest technology companies. he was also convicted on embezzlement and other charges now an appeals court has reduced the original five year jail sentence by half and suspended it beez release is already being felt by markets samsung share prices spiked on monday

shares in south korean tech giant samsung electronics jumped more shares in south korean tech giant samsungjumped more than 596 samsung electronicsjumped more than 5% on tuesday amid strong buying by foreign investors. their shares fell heavily last week as the local bourse was hit by the losses on wall street but now being hit by bargain—hunting, fellow chipmaker escado by next rose more than 4%. cloyne check will allow its customers to withdraw money. the exchange abruptly announced the extension of a number of services after hackers stole $530 million worth of digital money —— calling check. in that latest from our series the disruptors, we take a look at the next generation of vehicles to hit our roads. or it that our skies? a number of entrepreneurs are trying to develop new personal vehicles that can both fly and drive. but with such high price tags, and other hurdles, it could be a while before they really take—off. you can fit it in york raj, you can drive it to an airport, you can u nfold drive it to an airport, you can unfold the wings and fly it to another airport, fold it up and

the at samsung electronics j. wiley has been freed from prison a south korean court suspended his five year jail term for bribing the disgraced former presidents the appeals court upheld parts of the conviction but used its discretion to release the executive and many south koreans shocked by the ruling as the talks are going to end reports now from seoul j.y. lee was smiling as he walked out of a small courtroom out of jail and back to his life as vice chairman of samsung electronics. after a year in prison an appeals court freed him and dismissed most of the corruption charges against him. i think if you can get out. for economic reasons overall i think it was a good decision. lisa as he's used his time in jail to reflect. on the former again i feel very sorry to everyone for not showing my best side and it has been a really precious time for year reflecting on myself the first thing he did after being released was visit his father in hospital he's been incapacitated for three years prosecutors say it was leased

leaving the sole detention center a free man if you would have predicted samsung's electronics vice chairman. would be released when he arrived at an appeals court just a few hours earlier on monday. again i feel sorry for not showing everyone my bayside and it has been a really precious time for you reflecting on myself i will throw and do my best the forty nine year old had been in prison for more than a year on charges arising from what's been described as asia's biggest corruption scandal that exposed the close ties between korea's family run conglomerates and its political leaders it's a scandal that eventually led to the removal of president park yun havey a lower court convicted be in august for bribing the former president for her help in strengthening his control over samsung electronics one of the world's biggest technology companies he was also convicted on embezzlement and other charges now an appeals court has reduced the original five year jail sentence by half and suspended it beez release is already being felt by markets samsung share prices spiked on monday a sign that inves

samsung electronics posted a $69 billion revenue for the previous year, beating intel.ea's new president has campaigned on an anticorruption message. this u-turn in the verdict and the punishment for lee jae-yong raises questions about how the clinical and business elite will be held to account. >> is move onto market news. taking a beating amidst a global selloff. >> the european index significantly in the red as markets follow wall street down. -- share still down less than half a percent in the london puts on -- london ftse 100. the frankfurt dax down nearly 8/10 of 1%. overhe nikkei closed down 2.5%. both europe and asia following wall street's lead off the u.s. index posted its worst figures in two years. dow futures pointing to a further slide when markets open monday. ironically, it was a positive jobs report that set off the downturn. wages and jobs .2 rising inflation, with expected interest rate hikes making corporate borrowing more expensive. analysts say it is sending investors to the relative safety of the bond market. >> when investors are worried with int

leaving the sole detention center a free man if you would have predicted samsung's electronics vice chairman. would be released when he arrived at an appeals court just a few hours earlier on monday. again i feel sorry for not showing everyone my bayside and it has been a really precious time for you reflecting on myself i will throw and do my best the forty nine year old had been in prison for more than a year on charges arising from what's been described as asia's biggest corruption scandal that exposed the close ties between korea's family run conglomerates and its political leaders it's a scandal that eventually led to the removal of president park yun havey a lower court convicted b. in august for bribing the former president for her help in strengthening his control over samsung electronics one of the world's biggest technology companies he was also convicted on embezzlement and other charges now an appeals court has reduced the original five year jail sentence by half and suspended it beez release is already being felt by markets samsung share prices spiked on monday a sign that inves

lee, the vice chairman of samsung electronics, saw his sentence for charges including bribery and embezzlementspended so he does not have to serve time. lee was convicted in connection with the sprawling corruption scandal that brought down former south korean president too. why is it so significant and that action, which few people expect it? in the last few minutes we have received a statement from the lawyers of jay y lee. the lead attorney has said to the bbc we respect the core‘s decision in finding the defendant not guilty on the key indictments and we will do our best to clear the charges. as i was saying to you earlier, jay y lee has appealed this all the way and it has appealed this all the way and it has gone all the way to the supreme court. he insists he is not guilty. to your point earlier as to how significant this is, it is massively significant. up until today, the idea jay y lee would be able to walk out, effectively freed from detention, where he has been for the last year was the least likely outcome in terms of legal options we we re outcome in terms of legal options we wer

samsung electronics a reminder again but though he was behind bars he continued to run his patch of jail management all right we'll have to see how this plays out with the wider community is people find out about this natasha thank you very much international aid agencies have issued a warning that hundreds of thousands of displaced syrians are at risk of being forcibly returned to their homes despite the ongoing violence it won't report by six leading agencies says the neighboring countries as well as european and u.s. governments are putting pressure on refugees to go back the syrian government is taking control of more territory giving the impression many areas are stable enough to return to but for every syrian who went home last year three more were displaced then predicts another one and a half million will be displaced this year so her joins us live now from because valley so you know why this pressure when the situation is still so clearly volatile. well like you said there's misleading really information when you talk about deescalation agreements then people will cease fire on

and in south korea, samsung's electronics air is free to leave is in a most a year after he was detainedery scandal. a high court put him on probation for four years. caught in a corruption probe that block down the former south korean president. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. i am taylor riggs. this is bloomberg. mark: volatility, stocks are off their lows. the s&p was down just over 1%. check it out. .t is down the nasdaq is rising. the dow jones is down by about one third of 1%. is all the fuss over? to the you put it down last couple of days. this is the six day. news.it is excellent normalize is is what i'm looking for here. stock markets are understandable. with the qe, everything went up. i think it is normalization showing their finally moving and it means bond yields should be higher and it does not mean stocks will have to selloff. piece,said in his gadfly you write joint get slide piece, the 10 year yield is 2.5%, barely a flesh wound. do you share his view? >> yes. i read a piece that said europe is di

. >> samsung electronics surged after it reported record quarterly profit showing its chief businessvenue than intel. the maker of consumer electronics also unveiled a 50-1 stock split, during which the heir apparent was jailed in connection with the peddling scandal. >> what we got today was the consolidated operating profit, but also income numbers which were below estimates. we also got the division by division breakdown. we had some standouts in the chips, which is the flagship division, operating profit more than doubled from a year earlier. we could get a pop coming out of displays. keep in mind they are a contract supplier of oeled screens. they had a pick up in operating profits. >> let's talk about deutsche bank's shares, in the company suffering a biggest intraday drop since july, tumbling to the lowest level in seven years. fixed income trading, the largest source of revenue, went from 29% -- this was worse than what they expected both in terms of the revenue line, which came well below expectations, and also cost. suddenly the cost control isn't what it was before. >> i a

. >> a south korean court has suspended the prison sentence of the samsung you like -- samsung electronicsairman jay y. lee after he appealed the jail term. the sentence was cut by half, to two and a half years although , he is now free to go on four years of probation. >> if you can both be stunned and not surprised, that is the reaction today. we are stunned the high court which was reviewing the appellate court process in the seoul central district court behind me, they have not exonerated jay y. lee. he still has a sentence, but they have allowed him to walk free. he has already left the courthouse by a bus to the detention center, where i suspect he will collect his belongings. he has been there for nearly a year. yonhap news agency is saying the man who was convicted in the same courthouse in august to a five-year prison sentence for various corruption charges, he will be able to go home this evening. it is a stunning reversal , because this of all the different options the appellate court could have come up with, this was the one that legal experts said was the least likely, second

emily: in south korea, samsung electronics air jay y.ee to leave prison after being found guilty in a bribery scandal. he was initially put on probation. he was caught in a corruption probe that brought down the former south korean president. we went live to soul and spoke with stephen engle. >> kits like ripping off a band-aid before the wound is fully healed for many south koreans. they thought six months ago this cozy relationship between businessmen and politicians was finally -- they turned a new page on that. they thought win the district court in august handed down the five-year prison sentence for various charges, including corruption and influence peddling with the now deposed president, but now after this high court, the appellate court, ruled yesterday that they would lower the sentence to 2.5 years, he can walk free, and he walked free from the seoul detention center yesterday and gave a little statement. he read from a paper saying he apologized for not showing his best side.-- but i the same time he is going back to the com

that is exactly what we are saying across samsung electronics right now. .ack in court way throughibed his the samsung company. let's bring in steve engles. it will be an explosive few hours there. help set the scene for us. stephen: not to take the drama out of it, but this is not the endgame. this is the appeal process. thisuld, if he loses appeal, of your the supreme court just down the road from here. right now this is the greatest -- the latest chapter in what brought down even the president and led to that five-year conviction on corruption charges for the heir apparent to the samsung empire, if you want to call it that. the appellate process goes through the high court, a central district court building behind me. the sense i am getting from a lot of the people here is that there's a little bit of fatigue, if you want to call it that. the company has moved on. samsung electronics had record full-year earnings, record fourth-quarter earnings. well in doing really the semiconductors with all the smartphone demand. they are doing well with oled screens

nejra: a south korean court has suspended the sentence of the samsung electronics vice-chairman afteriley appealed the term. the sentence was cut by half to 2.5 years, although he is now free to go on for years probation. lee was the figure embroiled in the scandal that brought down former president par good hey. raise its bid for qualcomm as it tries to force its target to come to the table. according to a person with knowledge of the matter, the chipmaker is considering lifting its offer to $80 to $82 per share. rob, plans to announce the new bid this morning. the ceo dismissed an earlier proposal. representatives for both companies declined to comment. ryanair has launched a share buyback and announced a 12% jump in third-quarter net income. that comes as the airline seeks to reassure shareholders after caving in to unionization from pilots. >> we've retained our guidance for the full year, having seen our profit increase by 12%. we are now guiding profits in a range of 1.4 billion to 1.4 5 billion. passenger numbers increased to 130 million, which is ahead of the 129 million we pr

the stock is up by .6% on samsung electronics at the moment. anna: there is a tliv to go to if you want to follow along with all of that. the high court in seoul making those decisions on lee's appeal. the corporate earnings story, what have you seen so far? what has given you comfort and what we have seen from u.s. corporate in particular? lucy: very strong. upgrade. underneath, you are seeing good topline growth. also in the resources sector as well, which picked up. technology has continued to be strong. we have seen in previous times that it is still motoring through. by growth, we are talking about midteens growth. again, financials, but also resources and industrials. the early area, which is weaker from the consumer sectors, some of that is structural, some of that is disrupted in retail. the overall picture is pretty robust. driversne or two other for financials. we will talk more about that shortly. financials in and of themselves, going into a new era of rates, certainly in the united states. the dallas federal reserve suggesting we n

treasury yields stop rising. 0.7%.ul, the kospi adding in seoul we have two keyboard meetings, samsung electronicsr future operations in the country are clouded. aussie stocks led higher by materials and i.t. stocks. tracking their u.s. peers higher as it follows a surprise drop in u.s. supply. noted,lar-yen, as you not budging much following the latest inflation figures. nomura pointed out, the dollar-yen looking more volatile. you cannot rule out the possibility for it to retest 105. betty: thank you so much, sophie on reaction in the markets. good news from the boj, that key inflation gauge not slowing in january. what does that mean for the boj? let's talk more about that. i want to bring in kathleen hays. was already to come out and talk about, poor boj. it did not take off, but it held its own. if you interpret all the numbers, you can see they came in. about to give the boj a sense of relief. 0.9% for the second month in a row. the previous two months it was at 0.8%. i want to quickly pull up a chart so we can look at this. if you put it all in perspective, you get a better sense what is go

now with some breaking news on the corruption scandal that's been rocking south korea's electronics giant samsung that's right sumi a south korean appeals court on monday free to air of the some group lead a yawn after nearly a year of detention the court suspended the five year jail term he received for bribing the country's former president the forty nine. forty nine year old and so one of the world's biggest corporate empires was detained in february twenty seventeen lower court had jailed lifo corruption and a political scandal that rocked the country and led to the ousting of president park geun haig. now despite all the doomsayers were predicting the eurozone economy expanded and its fastest rate in a decade in twenty seventeen completing three years of consistent growth accordingly despite a slight dip from a seventeen year peak business sentiment also remains high at the start of this year it looks like it's going to be a good twenty eighty. the economy of the nineteen member single currency union posted its highest growth since two thousand and seven before the global financial crisis th

samsung unveiling its answer to apple's iphone x today with the newest galaxy smartphone. the company unveiled it's s9 and s9 plus yesterday in an electronicslows you to create your personalized emojis generated from a selfie. experts say it has unlock features including facial ?./l<6z fingerprint sensor, but the sensor is centered unlike the last version. the camera also offers new features including shooting for slow motion video. the galaxy s9s will roll out on march 16th. >>> taking a live look outside this morning as we track the rain hitting our area right now. on your left you see right there you can see from santa clara and then on your right a live look at the conditions on i-880 and that rain good news for the sierra, a lot of fresh snow is falling this morning. taking a live look from our cameras along i-80 on donner summit. >> i passed through those roadways a lot. i'm hoping we are able to pass through the roadways in the coming days. >> it's going to come down even more. >> for this initial storm system in the sierra we could get about a foot of snow but then the next rounds could spring up to 80 inches of snow. 8-0 inches o

samsung unveils its answer to apple's iphone x with its newest galaxy smartphone. the company unveiled its new s9 and s9 plus yesterday at an electronicsnew phone allows you to create your own personalized emojis created from a selfie. take a look there. experts say it also has unlock features including facial recognition and a sensor like the one on the s 8 but the sensor is centered under the like the last version. >> this he put it on the back just below the camera so it makes it quick and easy to be able to unlock. >> the camera has other features that it offers including super slow motion video, the new galaxy s9s will roll out on march 16th. >> i think i might be frightened to see how big my emoji eyes must be. >>> 5:16. in the months since the equifax data breach only about half of all americans have even checked their credit reports. those are the findings from a new creditcards.com survey. the same study found more than seven in ten customers are somewhat concerned about the breach which exposed the personal information for more than 145 million people. marvel's latest superhero movie showing no signs of slowing down at the bo

haveng electronics revealed their new flagship, the galaxy s9. engle.th us, stephen steve, every time samsungot of people say this is the critical launch for this company to her he keep in mind, samsung is doing pretty well. they're doing a lot of diseases. they have the memory chip. demand is pretty robust. in 2016.record profits the do have new leadership after the third quarter. they do have the scandal they are trying to emerge from. they are still emerging from the in 2016, bute record profits in 2017. now they have this new phone launching earlier in the year, perhaps 2 -- well, it is to take on the iphone x, and these are very similar phones. feature rich, yes, and actually cheaper. cheaper than the iphone, i should say. it has camera i grade -- upgrades. slow mo video. low light, the aperture is much faster. apple 1.8.sed to the the question is, is this enough of a move forward for the flagship handset to get people to abandon their apples and go to this platform? maybe down the road with the next one, because they are supposed to be in the works with a foldable screen and a really fo

in south korea, samsung electronics -- a year after he was detained in a bribery scandal. high court suspended the sentence. he was highest profile figure caught up in a corruption probe that brought down former south korean president. we tell apocalypse in the u.s. has claimed another victim. bond ton stores have filed for bankruptcy protection. sells home goods and furniture. there is speculation that theresa may will not survive the conservative party civil war over brexit. quitting the eu without a transition deal. -- transition period. that is your bloomberg business flash. alix: what puzzled me is expectations are going up for a rate hike at the boe. here is wirp for the end of 2018. you have the purple line which is showing the probability of two hikes and the a line is one hike. but at the rereading for two hikes. the code is a sink -- david: is it synchronized growth? alix: is inflation going to start to pick up again? david: the political situation is so bad. alix: why not? much more coming up. more on the equity selloff. this is bloomberg. ♪ we use our phones an