shery: welcome back. are watching "trending business". ministers in china, japan, and south korea city will support policies to stimulate regional demand being met over the weekend at the summit in i azerbaijan. they say policy should be carefully calibrated and boost growth. profitspac, first-half , as in under estimates earnings from treasury units dropped. the company has been trying to boost revenue despite a rise in bad debt costs and capital requirements. westpac is the first of australia's big it that -- biggest lenders. shares are down. we are expecting some big changes in china's oil and gas giants when leadership reshuffles, potentially announced this week. christine, what are we expecting? tine: china national ,etroleum corporation, senior and sinopec, according to people familiar with the matter, ceo, close to retirement, will be replaced. the president will step up to become chairman. the head of engineering will replace the chairman. commentst get official from any of the three companies. th

shery ahn your.yed by jack ma is set to 1.3 million new shares for $346 million. the company shares have been suspended its april 21 and are due to resume trading in hong kong this morning. another deal may be underway. intel is close to buying rival altera. a deal may be announced monday. the chipmakers have been in contact since earlier this year. offer rejected an initial in april. still not known what caused the death of the president of american express. ed gilligan was flying from tokyo to an orc when he fell ill. efforts to resuscitate him were unsuccessful. gilligan joined amex as an intern. he is survived by his wife and four children. woman,asia's richest mining billionaire gina rinehart, may be facing legal action by her son to remove her as director of their flagship mining company. just last week, she lost control of the family's $4 billion trust after a court battle. let's get over to paul allen for more. another chapter in this family feud. reporter: it just keeps on giving. the legal

shery ahn is standing by with our next guest. shery? shery: good morning, angie.re at the conference, where about 140 of the most influential people in the arenology area in asia here. joining me is the founder of an internet and e-commerce business. changing drastically. stocks are soaring. of this momentum in japan. how is that affecting be startup scene there? founder: there was the bottom in in,, so the money is flying and especially the younger generation, with the version of -- internet, shery: japan with the shrinking population, is that where you should be, or are you looking some rl's? -- somewhere else? teru sato: labor is also a problem. shery: what are you looking at in japan? we do not have many smartphonesusing for rooms. things andexisting another thing we are looking for education, bylike the power of the internet. i.t., education. it does not have to be on the e-commerce side. is theif getting this way to go in japan, what are you looking at right now and markt growing. gdp is and maybe we spend 10 days in india. hery: you have already made the ga

shery: a look at china first.lly jumped on the social media bandwagon and opened up its own weibo account. also, instant messaging. it will go live this morning for the first time. a few minutes from now at 10:00 in beijing with a press conference starting at 10:00. white paper entitled china's military strategy. we are interested in that. you can get updates. it is only in chinese as far as i know. it has 38,000 followers. it is following 30 people or organizations, most are official media organizations and military publications. this will help increase transparency about china's national defense issues. of course, whether you want to believe that or not is up to you. this is quite a new and bold the defense ministry. other parts of the chinese ministry have had their own social media accounts for a wild. for example, the people's liberation army opened one in 2011. they are late to the game. shery: it says a lot that they are doing it. bigou are looking at a icon. promotedhnny i've was to chief design officer. t

unac toed the owner of shery decide. simultaneously to the news that sunac is dropping the bid for kaisa. we found out the vice-chairman board.sa is back on he is a key guy in the business. he used to be the negotiator. he got the deals done. he was the right arm. the fact that he is back, i am being told it means he is take over the company, either sell it for a better price or even turn around the company and have it in the shape it was before. they were considered one of the best developers. rishaad: thank you very much. christopher joining us with the latest on sunac walking away from kaisa. do tweet us your thoughts, including the hashtag #trendingbusiness. they say they are deeply concerned about the rest of fa executives. we look at the charges leveled so far. a reporter: all of them have serious allegations ranging from illicit bribe taking, tax evasion, to one even had mortgage fraud. he lied on his mortgage application about money he received from thfifa. all these individuals look to be in heavy trouble. they

shery ahn: it has.use china is having a difficult time dealing with both sides of the problem which is trying to trim debt and not hurting economic recovery. what are they are doing is recapitalizing banks and overhauling local finances. hear from we policymakers urging banks to fund local government projects and refrain from calling in a loans. analysts are saying this mixed message we are getting from china is just because the government needs to trim debt but does not want to hurt economic recovery and also it does not want to hurt regional social stability. quite a tall challenge is that china has ahead. angie: thank you so much. we are japanese banks as tokyo opens. let's head over. yvonne: talking about the japan -- coming out.t machine orders is up. estimates were expecting a fall. that was a big beat. up about 2.9% at beating estimates of a 1.5% gross. the nikkei opening about 0.1%. mentioned itu just will be in focus today. one of the big things we saw a earnings coming out after the close yest

shery ahn has the details. shery: japan has been struggling to recover from a recession.seeing the economy up for the second straight quarter. analysts expected .6% growth. we are seeing much more growth in the previous quarter, when we saw growth of .4%. it is also beating analyst estimates. gdp grewualized rate 2.4%. that is much faster growth in the previous quarter of 1.5%. it is also a much faster growth, a much bigger leap from analyst estimates that expected a gain of only 1.6%. at at an annualized rate 2.4%, beating analyst estimates. the yen is currently strengthening and trading at 120, spot 65. a weekend had helped big business but it also increased the cost for household. all this gdp data coming ahead of the bank of japan's meeting that starts tomorrow. most economies don't expect any policy changes in the meeting this week. gdp had an annualized rate of 2.4% growth. back to you. angie: thank you so much, shery ahn. milk always not the only company betting on manila. one company has big plans as well. ♪ >> this was gomez's second straight win in colombia. ang

. ♪ shery having a look at what is trending on social media.orter: we are following the g e of this guy who flew a restrictedn airspace. eyewitnesses captured in landing. bywas quickly apprehended capitol police, secret service, and the fbi getting involved. he is facing multiple lateral charges that could land him in jail for nine years. y: nine years in jail for flying this? to call: he was trying attention to government waste. here is what he wrote on twitter. i hear congress is appropriating billion dollars for a giant high-tech flyswatter to be installed on the top of the washington monument. if you look at what other people are writing, one of the charges he has been hauled in is using a instrument.l he mounted a postal service logo on the back of his copter. he has been charged with using the postal service's logo and identity falsely. y: that is another charge he is facing. reporter: that is the sony. -- that is a felony. shery: pretty lighthearted for such charges. i am taking a look at the new wallpaper television. woman is holding it

let's get to shery ahn and hong kong. sherry: good morning anna chinese stocks are falling by the most in a week. the shanghai composite is down one and a half percent. we are seeing increasing concerns about a liquidity tie up in china. we have a number of ipos here not to mention concerns over economic growth. holding onto gains of half a percent. asian marks -- markets are a bit mixed this morning. they are swinging between positive and negative territory. there is a strong performance out of the u.s. with the s&p 500 closing at a record of 1%. microsoft and apple leading. some markets in asia are losing ground throughout the morning. korea is down half a percent, after the central bank past the key rate study at 1.75%. singapore is trading flat. there is a property value or -- property company has profits drop. the nikkei gaining 7/10 of a percent. they do not think further action by the boj is needed currently right now. the bank will continue easing until that 2% inflation target is achieved. we had data out of japa

ahn withng in shery the details.hery ahn: dodgy to say the least. .hey are scratching their head what we're seeing is reports that hong kong market watchdogs have been investigating them for several weeks now. officials have been unavailable to comment on this report. we saw them take a dive. 47% dive. it is almost half the market billioniping up $18.6 in 24 minutes of trading. the chairman missing in action. he was not present at a shareholders meeting. analysts and investors do not understand how they soared so much the past year. it increased six fold. it is dodgy. yvonne: this is not the first time it has been questioned. what are the concerns investors have? earnings per business performance. it doesn't seem to back its stock value, its price. 61% come from its parent company. we saw in january the financial times questioning their accounting practices. and bloomberg reporting that it is working with unproven technology and has disclosed few thatls about the work underpins its valuation. yvonne: a look at anothe

sheri has the latest. to say that there is mixed messages would be an understatement. there are way tam characters in this greek drama. >> it just illustrates the complicated situation in greece. the prime minister saying that greece couldn't and wouldn't be able to pay the i.m.s. in june without a deal with creditors. the -- he does give you a glimpse of the rather dire situation in greece that they struggle to break the impasse in order to able to receive the bailout funds which they haven't gotten since august. this is also the most explicit remark about a likelihoods. the greeks won't be defaulting monetarily. we know that the central economy has rejected a proposal from a hard left, the hard liner who wanted to actually see greece defaulting on its lones on the i.m.s. lones. they wanted to miss the payments. they will try to make those payments. the greek government of course has about $330 million to pay to the i.m.s. next week. all in all in june it has more than $1.7 million due to the i.m.s. and many more deadlines coming up in july and august. >> what are the

shery: yes, using technology called doubtless visual codes. what they have developed visually -- this is -- visual --d -- an israeli startup usually you have the codes that look like this, but these codes allow alibaba to put images in the code to have a more visually branding impact. so, they are trying to put all of these labels in the product so that when consumers get them at home, they can scan the codes app that they get and each code is very unique, so once you scan them, they are burned, and you cannot use them again. so, they're trying to put this on all of the goods from sellers that request them to verify authenticity to the customer. angie: i guess, in effect, instead of the model, digitized look, they could have a logo or something else? shery: yes, and it could be incorporated as part of these luxury brands. thank you --angie: thank you for that. -- people are betting that the u.s. economy is not ready for a rate hike. we will show you that when "first up" returns. ♪ angie: checkingangie: stories making headlines around the world

>> satisfied with the response, kyle launches "exhibit b-5" online. >> hey, sheri here. >> to add tohe mystery, he releases it under a fake youtube account name, claudiamckinney. >> so, we invented a person, claudia mckinney, and her story was that her dad used to be a judge and that she was taking court evidence and putting it up on youtube. >> but "exhibit b-5" doesn't catch on right away. >> how's that? >> no, you look like al qaeda. >> to help it gain momentum, kyle reaches out to his friend, rainn wilson, star of the show "the office." >> i e-mailed him, would you mind tweeting about this. and he was like, yeah, man, and he put it up and it really took off thanks to that. so, really, we owe the success of "exhibit b-5" to dwight on "the office." >> within a year, the video scores more than 6 million hits. >> i had no idea that it would get the response that it did. like, whoa. >> comments pour in from viewers debating its validity. >> people arguing about, it's real because of this. no, it's fake because of these, you know, top ten things. and that's really been the phenomenon t

. >> sheri and dad wrightbject to moving the ferry operation to pier 3 which would bring trafc and other disruptions into a secluded area in the district the park said this is evaluating a move back to the former home base o pier 31. negotiation negotiations involve financing and investment. >> in order to have a range of alternatives, we wanted to look at all potentially viable alternatives. >> court officials are fighting to keep the ferries from floating off but say the national park service is asking for unusual terms to stay. >> the commission says says both sides are optimistic a deal can be reached. >> still to come a $500 million problem taxpayers are paying for. >> the fight to keep preschoolers in schools. >> fog is moving in on the coast. >> the earth will crack open. >> and later, it's not reality but, hokal why am i so awake? did you know your brain has wake system... and a sleep system? science suggests when you have insomnia, thneurotransmitters in your wake system may be too strong, which may be preventing you from getting the sleep you need. talk to your doctor about way

he spent 20 years capturing images of stone carvings at shery ahnan an ancient temple in cambodia and he's hoping his sites are not forgotten. >> reporter: a massive face carved in stone. there are 259 faces like this in the ruins each with a different expression. this photographer is the first person to create photographic record of all these faces. he began working on the project over 20 years ago. >> translator: they are carved into ordinary stone but their expressions feel so human. no matter how many times i come here i never feel as though i'm seeing the same face. >> reporter: in the airily 1990s, cambodia was starting to emerge from its long civil war. it's historic site-been left abandoned. and many were falling into ruin. he was captivated by the carvings. concerned by their poor condition he joined a japanese government team set up to preserve the site. this marked the start of his photographic project. the faces each about five meters high are carved into the four sides of numerous towers in the ruins. he feels a certain quality in these faces. >> translator: the faces are

. >> sheri and david wright object to moving the ferry operation to pier 3 which would bring traffic and other disruptions into a secluded area in the district the park said this is evaluating a move back to the former home base of pier 31. negotiation negotiations involve financing and investment. >> in order to have a range of alternatives, we wanted to look at all potentially viable alternatives. >> court officials are fighting to keep the ferries from floating off but say the national park service is asking for unusual terms to stay. >> the commission says says both sides are optimistic a deal can be reached. >> still to come a $500 million problem taxpayers are paying for. >> the fight to keep preschoolers in schools. >> fog is moving in on the coast. >> the earth will crack open. >> and later, it's not reality but, hokal >>> new report is drawing attention to a large homeless population costing the public a lot of money. as much as half a billion dollars per year in fact. >> officials tell us with this data, they can focus attention on building more housing and there is a need

let us get to shery ahn. first quarter into the next, good news.hery: good news in quite a bit of a surprise this morning in asia. japan's gdp growing in any revised 2.4% from the previous quarter beating analyst estimates. much better than the previous quarter. we saw weaker than expected growth at 1.1%. it is how the corporate profit. business is showing signs that will raise wages and start spending more there was a lift from the positive data at 1.1%. of it is the highest level it has been in 15 years. a weak yen has helped lifting stocks this week. we can see the yen has been weakening this whole week. at one point. it reached the lowest level against the dollar in two months. it is reading at about 120. an area of caution on the latest beta is we also saw an increase of inventories which suggests consumption is still trailing industrial production. manus: thank you very much for running up the moves on the market. mark? mark: we should bring you breaking news. it is a big day for a number of banks. the swiss bank has just announced it will fa

shery: it is not just the possibility of more monetary stimulus.t is also the fact that there are so many more variables. we have more individual chinese investors. about 80% ofake up equity trading in china, not to mention that stock accounts are rising at the fastest pace since 2008. people say there is so much money in the market, it is making it difficult to assess chinese stocks. we also know that regulators, although they are trying to weed out speculators, they are also trying to help companies raise money through equities. in order to reign in credit --ansion that we have seen we have had so many ipos. more than 120 this year, which is almost matching the amount that we had all of last year. also, we have the shanghai, hong kong stock connect, giving greater access in the international market. thee: that has really been key to this driver that we have seen in shanghai stocks. what are analyst expecting now? shery: hopefully they are not going to be too pessimistic this time around. however, they are tempering even with theow, possibility of

for more on the figures, let's bring in shery.oks like exports gaining 8% from a year earlier. a much bigger game than analysts expected. imports also falling more than in april down 4.2% from a year before. a bigger drop than expected of 1.1%. this led to the trade deficit coming in smaller than analysts million. $439 much smaller than what analysts expected of $2.9 billion. japan's trade deficit falling into negative territory after the 2011 earthquake, leading to the shutdown of reactors, japan having to import more fuel. the recent plunge in oil prices, that seems to have helped, easing the downward pressure to import. imports are down for the fourth consecutive month. of course, helping exports as well, the week yen. weakening about 30% since shinzo abe took office. angie: speaking of what boj is doing, over the weekend, they were in portugal. what did they have to say? tory: they were talking other central bankers over the weekend. they reiterated that the boj expects the inflation rate to accelerate in the second half of th

ceo andus is the cofounder talking to shery ahn. 30 minutesn about from now. ♪ .ith all due respect" to jeb bush and president obama do us a favor and leave our show out of your petty disagreements. >> with all due respect, mr. president, you're just wrong on this one. ♪ john: happy national blueberry cheesecake day, sports fans, and our tv guide tonight, jeb bush's little house in the kennebunk work compound, twitter's version of cop -- of

shery: no, i wasn't. angie: thanks for watching. ♪ shery: good morning.s is "trending business". we are live talking about beijing. first, this is what we are watching. the cash crunch in greece. athens must make and i am a payment this week and faces the ruins of default as the bills mount. sides fare the two apart. unexplained market moves

shery: asian stocks marginally higher today.markets worldwide saw the slumping because of the global bond selloff. gains,pi seeing solid reversing yesterday's losses. the nikkei marginally higher. that is after current account data this morning showed japan's surplus marginally large. seeingnghai composite some losses, down .4%. remember, it has been up for three consecutive days. sengang saying -- hang extending yesterday's losses. we have retail numbers out of china, not to mention production numbers out of china. they are expected to come up at her than the march figures. but let's look at some banks in china. local media have reported that these two banks were hacked on may 9. they reported the case to police. there has been no impact on client data and accounts. but we are keeping an eye on their stocks. rising 2.5% today. that is after announcing they industrialling bankshares. we are also looking at these stocks today in japan. japan headed for their lunch break. , theyl these companies also loved this morning after a for

we have shery ahn, fred noonan. global economy to function pretty well and keep growing, you have to have growth in china and of course u.s. recovery. you have got to have the u.s. >> there is this expectation we are looking at stronger growth. when we look at the economic data everything shows no celebration growth. even the latest china data. there is an assumption we're going to look at a pickup in growth. i don't ticket is going to be quite as strong. europe might start to fizzle again. i think it is going to be challenging. >> he was saying he thinks it would be similar to last year. a weak q1, and in the second half. is that out of the realm of possibility? >> i think that is the baseline assumption most people have. it was the weakest quarter we ever had. we can't just put it down to the weather. it was the weakest growth corridor since the global financial crisis. we're seeing a much weaker growth in the economy and also it hasn't really rebounded. >> does that push the fed to wait until next year? >> it loo

shery: that was reporting from hong kong.pleas court, heays, city ubs, royal bank, and jpmorgan. billion, much of this was known in advance, the market reaction is mostly muted, except in the case of ubs. its shares are up 3.5%. american airlines plans to compete with low-cost carriers. declining fuel costs could help cut fares. american is completing its merger with u.s. air. deltaport says that pulled its affairs and schedules from more than a dozen sites and claims that american and united made similar moves. airlines are trying to pull more flyers to their own sites to keep revenue. olivia: those are your top stories at this hour. walmart is celebrating memorial day with a new commitment to higher veterans. it says is will hire up to vets by the end of 2020. joining us is gary, the senior director of walmart's military programs. thank you for joining us to talk about the terrific initiative. hundreds of thousands of veterans get discharged from the army every year. how many do think walmart will realistically hire? gary:

reporter: those are the top company news, i'm shery ahn.ie: china may see another depot later today. include maker's clients pepsi-cola and coke, that a debt is due and it probably won't be able to pay. this is a story we are watching. reporter: the bottle maker said on monday in a statement, that he did not have enough to repay the full principal of more than $95 million. it only has something like $24 million. it has managed to raise money. yesterday there was an update saying that we have a little more money now. we actually have about $35 million. but it's so not the same as paying the amount. it will continue to try and raise enough money until the last minute. it also did say it has got enough to repay interest payments. that is fine, but it cannot raise enough to pay the full bond principal. angie: here's the thing. the company has physical assets achingly use as collateral but it can't get cash? reporter: as what the company said. it has five is of land and the factory. the company says it does not -- it has basically a liquidity cr

i am shery ahn. some good news for

. >> and when sheri stopped him, she didn't know for sure who he was, and she asked him for his id.d he said i don't have any id. but he told her his last name. >> he tells her his last name is gray. gillespie realizes he fits the description of the andrew lee gray, a man wanted by police for assaulting his girlfriend with a knife. she asks gray to put his hands on the trunk of the car. >> he placed his hands on the car, and she took her handcuffs out. he spun around to fight her. she grabbed him by the shirt and told him you don't want to do this. you're just going to get yourself in more trouble. >> gillespie grabs gray by the shirt, but gray decides to make what could be a life or death move. he tears off gillespie's vest microphone and goes for her gun. >> he reached to grab the gun. as soon as he did that, she tried to grab hold of him. and they started tussling. >> the gun is a 40 caliber glock. and gillespie knows if gray gains control of it, he could shoot her. but gray is having trouble. he seems to be trying to find the safety on the gun, hoping to release it. while gilles

. >> i want to bring in your wife sheri. you were talking about what a haven the second floor is for you guys especially in this situation. a lot of people don't have the second floor. tell us what happened with your neighbors with the rainfall. >> our next-door neighbor is an elderly woman, was by herself. we couldn't get out to go get her because the water at one point was higher at the door than it was inside. we couldn't even get out. and then i had gotten a call from my cousin who said there was a water rescue of a young couple her cousin with a newborn baby in the 4900 block of south breezewood. >> reporter: down the street. tell us about when you first came in this morning after the sun rose and the power got back on. and just kind of your reaction to what your house looks like now. >> well, it's shocking. it's not like losing our lives. it's just -- not the way i wanted to remodel, but we'll be okay. we'll be just fine. >> reporter: thank you very much wanted appreciate it. brooke we've been in about four or five hou

those gathered here at the shrine to of all and peace officers or reminded of their sacrifice for sheri sampson told a local san jose police officer gene simpson was killed in 1989 it was an emotional tributes >>: this is brought everything back fresh forming >> reporter: his family on hand san jose officer michael johnson's name was added to the memorial as their floor is smith recalled his sacrifice >>: we were inspired by the way he lived his life and protected others and we will remember his dedication >> reporter: dating back to 186246 santa clara county dating back 1862. 40 santa clara county peace officers have been killed in the line of duty and including officer gordon silva lose in these and cousin were also on hand and touched by the tribute. 40 names for the fallen officers hopes and prayers and michael johnson's name will be the last one added to that list they're hoping that his name will be the last one added to the last. in san jose rob fladeboe kron 4 news >> pam moore: vigil the plan for the three gilroy exist school district students killed in a suspected d u i crash