government officials are keeping a close eye on developments and prime minister shinzo abe told them that the damage from the latest quake would likely cover a wide area. abe instructed relevant minsters to consolidate all resources in response to the disaster. this includes boosting the number of personnel to be deployed for search and rescue everydays and to ensure the safety of residents. in the wake of saturday's largest tremor, japan's meteorological officials are calling on them to exercise extreme caution and wants them to stay away from potentially hazardous sites. strong volts were felt cross those felt by the previous quake. aftershocks with intensities up to six on the japanese scale could occur over the next several days. >>> a magnitude 7.3 earthquake struck the region in southwestern japan in the same region where there was a major quake on thursday. one person has been confirmed dead while hospitals in the area report that more than 440 people are being treated for injuries such as broken bones. meteorological officials say the quake occurred at around 1:25 on saturday

okinawa officials say they'll protest prime minister shinzo abe's remarks to the u.s. president that he accepted the court proposal, believing haste makes waste. they also plan to reiterate their demand that they cease

. >> prime minister shinzo abe says one of his top priorities is to make sure people have a comfortable place to rest. >> translator: we're sending ferries that can serve as emergency shelters. the ships will accommodate people and provide meals and baths. >> abe says the government will provide food and other essentials from money drawn from the reserve budget. >>> the mayor has been investigating the castle. they viewed the landmark for the first time since the earthquakes. the castle is one of japan's most famous and icon of the city. it'sing designated a special historic site. all of the castle's 13 buildings incurred serious damage in last thursday's quake. one of the turrets collapsed. >> translator: the scale of the destruction left me speechless. i'm worried that anymore tremors will make it even worse. >> researchers from university sent a drone to survey the damage. they believe the weight of the tower may have contributed to the collapse of the ramparts. it was rebuilt in 1960 using reenforced concrete and several times heavier than the original. >>> executives at mitsubishi

prime minister shinzo abe spoke to the media on friday morning. he said he'll take measures to rescue victims and ensure the safety of all citizens in disaster hit areas. >> translator: i will do my best to provide food, medical supplies, and support for those who are suffering from the earthquake. i will also make efforts as soon as possible to secure housing for those who have lost their homes. >> japan's chief cabinet secretary, yoshido, briefed reporters. >> translator: the government has set up a task for at the prime minister as office, and an emergency team of senior government officials. we will do our best to get detailed information on the earthquake damage now that daylight has revealed what we could not see during the night. >> he said several thousand rescue team members from the self-defense forces, police and fire departments across the country have been sent to disaster hit areas. >>> on to other stories we're following. u.s. defense secretary ash carter said on thursday the united states has launched joint patrols with the philipp

prime minister shinzo abe said the deal between 12 pacific rim countries would help boost japan's economy as it deals with a shrinking population. abe was asked about various concerns over the tpp, especially related to the farming industry. it's expected to face the biggest impact. >> translator: my administration takes the continuing worries of farmers seriously. we will take all possible measures to strengthen the agriculture and fisheries industries. >> abe reiterated the importance of the pact, saying it would create a vast economic zone covering 40% of the market and would raise japan's gdp by $100 million. when asked about the possibility of the u.s. requesting to renegotiate, abe said he would not accept the demand, adding the agreement is the result of long and delicate negotiations. >> the u.s. dollar is continuing its slide against other major skrins. gene otani that's the details along with other business headlines. gene. >> thanks very much, james. the dollar dipped to the lowest level in 17 months as many traders sold the u.s. currency. they were reacting to minutes from the

will have to decide whether to ease more in april or june, in part the answer depends on whether shinzo abepone the tax hike next year and will there be a supplementary budget. he is saying i will not postpone the conservative tax hike but he is bluffing i think, the economy is faltering and you cannot have another fiscal drag next year. on the fiscal side but with inflation going lower and growth toor, the yen is becoming strong, the -- they will have to do more. we mayit is a concern thought limited to the eurozone and u.k., this will probably have implications on the whole world. nouriel: it does because if they decide to go for brexit, many -- it will create uncertainties about not just written that the future of the european union -- not just britain but the future of the european union. -- in spain, they say me too. some of the nordic members of the european union like the swedes will say without the u.k. in the european union, europe is becoming more eurozone and i do not want to be a member of the eurozone. it could be the beginning of the end of the european union. greecehe tension

with shinzo abe adding whoever is the next president of the united states, the japan/u.s. alliance is the cornerstone of the diplomacy. >>> the war is brewing in hillary clinton. bernie sanders and hillary clinton attacking each other as each tries to lay claim to the stat state. bernie sanders tried to address his brooklyn roots. >> i am proud that i was born here in new york city. we lived in a 3.5 room rent controlled apartment in brooklyn. so i learned a little bit about what it means to grow up in a family that has no money and i also learned a little bit about the immigrant experience. >> clinton also playing the hometown card. campaigning for a week in the state she wednesday republicaned in the u.s. senate. the new york primary two and a half weeks away. clinton losing her cool with a climate activist. cnn's jeff zeleny has the latest from new york. >> reporter: christine and boris, it is clear the presidential race is starting to get to the candidates. when hillary clinton was campaigning in new york on thursday, she was approached by an environmental activist. th

continuing on with japan speaking to "the wall street journal," the japanese prime minister shinzo abe said that competitive currency devaluation must be avoided, suggesting that he would not intervene to stem the yen's strength. his commenteds pushing the japanese currency to a 17-month high. so shinzo abe talking about how countries should avoid weakening their currency with arbitrary intervention. >> i expected no less. you have a situation where the yen continues to gain strength despite all efforts by policymakers to avoid that. i think what he's doing is maybe some regional control in terms of making sure that, you know, while the yen strengthening is not offset by other countries in the area, sort of devaluing their currency and really putting the yen in a bad position. you know, what you're seeing clearly in japan is the policies are not working. we're seeing the yen strengthening. we're seeing import prices continue to weigh on inflation number, and that's making it even more difficult for the deflationary fight. >> the advance, though, happening in the yen. is that due to fed

prime minister shinzo abe scrapped the original design because of a ballooning price tag. the working group was formed last month after organizers realized there was no place for the cauldron. keita kato, nhk world. >>> thai authorities are warning >>> the united states has sent aircraft from its philippine base to patrol the south china sea. officials are concerned that china may be planning new landfill work in a disputed area near the philippines. air force officials say a-10 thunderbolt fighters and hh-60 helicopters took off from the clark air base on april 19th. they say the mission is scheduled to last several weeks. u.s. aircraft flew through international airspace in the vicinity of scarborough shoal, about 300 kilometers from the capital manila. the shoal lies within the exclusive economic zone claimed by the philippines. but the area has been under china's control since 2012. its patrol ships began operating there after chinese fishing boats were seized by philippine authorities. u.s. government officials expressed strong concern last month over chinese vessels

prime minister shinzo abe said trade is flocking to the yen. countries should avoid arbitrary intervention to weaken their currencies but the yen retreated in tokyo trading hours so shares of companies posted mixed results. suzuki motor gained 3.5% while panasonic declined 3.2%. in in inpex is lower by .72%. so there's a lot of focus on investing here. investors will be watching the central bank of japan and u.s. they will be holding policy meetings in three weeks. >>> in china. shanghai composite down by a fracture shows. 3050 for the closing number. figures showing growth in service sector activity supported but many investors sold shares to lock in profits. let's look at taiwan. the taiex dropped by 1.67% to 8513. shares of hon hai sank more than 2% since a take over deal with sharp. hang seng agained by.15%. sidney regaining by half of a percent. >>> investors are getting another clue on how china's economy is doing. the data shows the service sector is regaining some momentum. the services purchasing manager's index rose to 52.2. that's up

japan's prime minister shinzo abe is among them. abe stressed the need to prevent the theft of nuclear materials, attacks on nuclear facilities and cyber attacks. he called for participants to share information and coordinate efforts. u.s. secretary of state john kerry hosted a meeting of foreign ministers. >> to make the world a safer place. for some people, that's sort of a slogan. for everybody in this room, it's our daily work. >> the deadly attacks in brussels last week have heightened the importance of the summit. the leaders are expected to discuss measures to respond to the islamic state group. >>> south korea's defense ministry says the north has launched a short-range surface-to-air missile toward the sea of japan. the missile was fired from sondok at around 1:00 south korean time on friday. they said it fell in the sea of japan. a news agency says the missile flew about 100 kilometers. defense ministry officials are analyzing information. on top of a nuclear test and a rocket launch in recent months, pyongyang has fired a

high level economic exchanges, and china should closely watch the direction of prime minister shinzo abe's government. >>> washington is expected to gauge public opinion before deciding whether president obama will visit hiroshima in may. obama will be in japan for the g7 summit. his secretary of state made an historic visit to the city. he was with his counter parts on monday when they visited peace memorial park. he became the first secretary of state to vitz the site where his country dropped the atomic bomb in 1945. while lighti highlighting the significance of the visit. >> it underscored how we need to make every effort to diminish or reduce the number of nuclear weapons in the world and pursue peace and diplomatic problems. >> they're discussing many factors around the possibility of i trip to hiro shima, but it could look like an apology for the bombing. many americans view it at the end of the world war ii as necessary to avoid further massive american casualties. >>> japan's foreign minister refrained from commenting on the potential visit. >> translator: it is important for worl

shinzo abe is among them. he stressed the need to prevent the theft of nuclear materials, attacks on facilities and cyber attacks. he called to share information and coordinate efforts with international organizations. u.s. secretary of state john kerry hosted a meeting of foreign minsters. >> to make the world a safer place. for some people that's sort of a slogan. for everybody in this room it's our daily work. >> the did deadly attacks have heightened the importance of the summit. the leaders are expected to discuss measures to respond to the islamic state group. the leaders of japan and the united states pledged to cooperate in strengthening global nuclear security. prime minister abe and president obama issued a joint statement at the summit. it said the two countries will cooperate in transporting uranium. fuel will be sent from the experimental reactor in western japan to the u.s. for disposal. it's part of the effort to minimize stockpiles that could be used to produce weapons. the reactor was used for

. >>> japan's prime minister shinzo abe wants to play a role in resolving the situation in ukraine. he told the president that the issue will be discussed at the upcoming g7 summit. they held talks on wednesday in tokyo. >> translator: at the summit next month, he want to lead discussions about ukraine's situation, representing the host country. >> abe said japan has been working for a peaceful settlement of the crisis in ukraine. he fledged to continue urging ukraine's government to fully carry out the cease-fire deal reached in february last year. abe urged russia to play an active role in playing an active -- they'll share information on dealing with radioactive contamination, and related issues. both countries have experienced a large scale nuclear accident. ukraine will mark the 30th anniversary of the shchernobyl later this month. >>> japanese firm takata, failure to operate properly has led to death. we're hearing of another casualty. ai uchida joins us now. >> claiming another life. officials at the national highway traffic safety administration in the u.s. say a ruptured ai

he met with shinzo abe, and south korean president for the first time in two years. >> we agreed during this meeting that tri lateral in northeast asia, deterring the north korean nuclear threat and the potential of nuclear. >> they agreed to jointly deal with the islamic state militants. obama held talks with china's president. for more, we go to washington, covering the talks. he joins us live. shuhe, what did the talks come up with? >> reporter: yes, the three leaders agreed to enhance security and defense ties, prime minister abe called the nuclear development a threat to the international community. >> translator: to cope with such threats, we agree to strengthen tri lateral corporation in every field, this is extremely meaningful. >> reporter: president obama said the three countries will consider taking additional measures incoming weeks or months to pressure the north. so we should closely watch what those additional measures will be. >> okay, and what about probably pok, what stance did she take? >> well, to put it simply, pressure. pok called the u.n. security council resoluti

oecd chief met with prime minister shinzo abe and discussed the economies of japan and the world. korea said tokyo should stick to its plan of raising the consumption tax next april from the current 8% 106. officials should continue with further hikes in ways that don't shock the economy. >> 10% is not enough. but we should be going at least until 15%. but my way of doing it would be 1% per year. 1% per year. >> chief economist of the asian development bank touched on china. he said he sees no signs of a drastic slow down, but that beijing needed to create a consumption-oriented economy. >>> firms at the bank of japan have released a producer price index. they say prices of goods trade among companies fell in march for the 12th straight month. the figure was down 3.8% from the same month last year as we see here. china's slower economy pushed down the price of steel, lower crude oil prices were another factor. petroleum and coal products plunged 25%. scrap and waste were down by 22 and nonferrous metals dropped 12%. investors in tokyo sent the nikkei average above the 1616,0 mark

okinawa officials say they'll protest prime minister shinzo abe's remarks to the u.s. president that he accepted the court proposal, believing haste makes waste. they also plan to reiterate their demand that they cease operations without relocating to the coast. >>> u.s. military officers are expressing concern over what they call aggressive action by russ russia's military. they say two russian fighter jets made a simulated attack passes near their destroyer in the baltic sea, they made 11 passes tuesday. they released footage of the incident. they say the plane came so close to the uss donald cook, they created wake in the water. the officers say a russian military helicopter also circled the destroyer seven times, taking pictures. neither war plane carried visible weaponry, but didn't respond to radio messages from the destroyer. white house spokesperson also expressed concern. >> this incident has, surprised to hear, is entirely inconsistent with the professional norms of militaries operating in proximities to each other in international waters and international ai

want the government to provide detailed information on how they played out, but prime minister shinzo abe said that could harm the national interest. numbers of a committee met friday to discuss a bill to approve the deal. opposition lawmakers argue they need more information before they can judge whether the talks were in japan's interest. another point of contention is a book that the chairman had planned to publish. opposition lawmakers suspect they helped them write the man script that contains details of the talks. lawmakers boycotted the meeting and the debate was suspended for more than six hours. he will explain the deal to the committee. >> translator: in our answers to your questions of this committee, we will explain how the tpp will talk to the people. we will give a thorough explanation of how we will deal with the expected impact of the deal. >> but he said disclosing information on recent negotiations would harm japan's relations with other countries and expose strategy and hurt the national interest. japan's aerospace agency is hoping to turn around the troubled history of

prime minister shinzo abe said the prospective deal between 12 pacific rim countries represent a big opportunity for japanese farmers. abe was responding to a question from a ruling democratic party lawmaker. >> tracy: the tpp will open a huge agricultural market for japan. it will enable its farmers to set up sales channels overseas and the compete globally. >> the prime minister said the deal would boost japan's gdp by $130 billion. he said the results would improve the lives of people across the country. abe also said the tpp would help japan offset its population decline and achieve robust long term get. the opposition democratic party's policy chief accused the government of concealing the details of the negotiations. but economic revitalization minister said it is bound my strict confidentiality. >>> leaders are set to spend big on public work projects to buoy the economy. they plan to use most of their new fiscal year budget in the first six months. >> translator: i explained our plan for the budget and i asked the ministers to get on board. >> ministers want to spend 80% of t

. >>> two energy experts are calling on the japanese prime minister shinzo abe, to put oil prices high on the agenda at the summit in japan next month. they say leaders should discuss ways to tackle the continuing slump which have been causing pain in financial markets. iea executive director and professopaul stephens of britain's royal institute of international affairs met with the prime minister in tokyo. >> birol said following crude prices prompted some producers to slash output and inventory but he is confident prices will start to rebound later this year or next year. stephens said countries could provide greater stability by bumping financial aid into oil development projects. he also called for framework allowing countries to share oil reserves in emergencies. >>> executives at mitsubishi motors admit employees rigged data to make fuel efficiency appear better in more than 600,000 mini vehicles. now they say they're going to call in independent experts to see if the scandal goes deeper. executives say two of the models in question were their own and two they produced for nissa

. >>> now japanese prime minister shinzo abe pledged to rebuild the quake-ihit areas. let's go to ai uchida for more on this. what is he proposing? >> he's turning to the private sector. he's urging business leaders to help rebuild the kumamoto area. he said every day operations are starting to improve, but a decline in foreign and domestic tourists may have a prolonged impact on the local economy. ache said his government will draft an extra budge to t to actively assist quake victims in affected areas. >> translator: the government will do everything to minimize the quake's impact on the local economy, supply chain and tourism. i'd like to request the business community's help. >> council members also discussed how to boost the gdp to $5.4 trillion. they decided to boost investment in artificial intelligent research to more than 4% of gdp by fiscal 2020. >>> saudi arabia has announced a plan to lower its reliance on oil profits by the year 2030 at country's economy has been hit hard by lower crude oil prices. the saudi cabinet has approved a broad-based economic refo

this was before shinzo abe took office. the nikkei is about 54% above where it was, but this is serious. joe: both of those are remarkable charts. datat to look at one key point. about central banks are in easing mode and there's been this emerging market currency, but there are emerging fundamentals that have again to turn the corner. look at the composite bmi, looking at the services and manufacturing. back at a 10 month high, above 50. even though a lot of talk has been about central banks, there might be improving fundamentals that show the rally is based on something real. alix: don't you think it's funny we have a fed minutes day and everyone is talking about e.m. japan. it is very telling. perhaps the market thinks it is old news. you can find all these charts and more on twitter. alix: we want to bring in our first guest from strategic research partners. congratulation on the wildcats winning the ncaa. let's go back to one of your notes. the s&p 500 spent the better part of the last year trading in this 15% range. w

its monthly base wage increase, and that is something obviously that primeor kuroda and minister shinzo abehave been pushing corporations to do, invest in the economy and and wage growth. that is just not happening. whenrns about what happens we see those gdp numbers for the first quarter when they come out later this month in april. the last quarter of 2015, a contraction, so another since prime minister of a came back to office. all eyes on the bank of japan when they meet later this month, the last weekend april -- week in april. they expect further easing given the concerning data, including the survey this morning. rishaad: thanks. i look at those weaker than anticipated numbers coming out of tokyo. right, we will have more on that. j.p. morgan having a look at what this data means a bit later as we start of a new fiscal year in japan. tweet us your thoughts @rishaadtv, include #trendingbusiness. here are some other stories we are watching today. battleticipant in this for starwood drops out. >> that's right. it looks like the door is wide open for marriott international to take over s

is strengthening yen expected to hold profit growth on earnings which began four years ago with shinzo abe'ss. the bank of japan governor is speaking in new york within the next hour. , we arein australia expecting unemployment data for march. it is expected to show an increase to 5.9%. though, it is notoriously volatile. i am paul allen for bloomberg tv in sydney, australia. ♪ ♪ emily: turning to encryption. and diannechard burr feinstein have released a draft of a bill that would require companies and individuals to comply with court orders to protect citizens from criminals and terrorists. feinstein said, we need strong encryption to protect data and we need to know when terrorists are plotting to kill americans. they are soliciting input from the public before introducing the bill. as the public and private sector grapple with the fallout from the debate and a death to a new normal of tighter encryption. ski, joined by luke dombo former attorney general for national securities. it has been exciting and dramatic times in the world of cyber law. what is your reaction to the encryption bill

prime minister shinzo abe met president xi jinping in 2014 and last year.ations have prayed over disputed territory in japan's decision to beef up military forces. they share a $340 billion trade relationship but both sides say ties are difficult. over 2400 journalists around the world, this is bloomberg news. central bankssian have slapped a fine for failing to repatriate more than 1.8 million dollars. the investment company has been over investigations -- internationally, let's bring in kuala lumpur bureau chief. what is the latest? as we saw yesterday, the central bank put out a statement that said they have sent a letter to ensure compound fines because it is not repatriate $1.8 billion. the reason why they wanted it repatriate it was because -- had used the money. he used the money for different purposes. one mdb has not given enough reasons. of this is this the end saga? reporter: as we know, the parliamentary committee has put out a report that it found $4.2 billion of unverified transactions by 1mdb. that formerid management was probably to the blam

35% before the boj intervene straight when it comes to intervention, who better to listen to than shinzo abeportedly on tuesday told "the thatstreet journal" countries must avoid devaluation of their currencies. if you want to find this of duty on the bloomberg, #btv832. betty: you don't know this, but i did not hear part of it because my earpiece went out. i'm going to give you the win. it would be unfair to go against mark if i didn't hear everything. that does it for "the european close." you're up, mark. there you go. are at 2:00 p.m. eastern time. mike mckee will be in washington breaking it down. don't miss our exclusive interview at 3:00 p.m. with the st. louis fed president. ♪ >> welcome to "bloomberg markets ." >> from bloomberg world headquarters in new york, good afternoon. i'm scarlet fu. alix: i'm alix steel. pfizer and allergan officially walk away from their 160 billion dollars merger, a major turning point for the justice department. after gold's biggest advance in a week, the precious metal is retreating. good news and bad news from one of wall street's most watched bank ana

shinzo abe sitting there. while tokyong burns? of the things we have to watch closely is the degree of japanese investment outside of japan, and to what extent that speeds up or diversifies. in australia, we will see a number of acquisitions of austrian assets by japanese companies and greater trade alliances being built. that is positive for japan, because that gold in japan has to be invested someplace else besides bond rates that are negative. japan will have to cut rates. if it happens quickly, we will see a moderation. either way, the direction is slightly or greatly accommodative, one of the other -- or the other. rishaad: thank you there. joining us from sydney. >> the stories making headlines around the world. of personal data of millions voters in the philippines are still available after the hacking of the election commission. personal details have been displayed, allowing identity thieves to access passport information, fingerprints, and more. a person has been arrested, and there is a report he has admitted to compromi

that was its longest losing streak since before it shinzo abe took office. staggering statistic. to get a sense how the market is how long on the yen, this is noncommercial long for the yen. that redline is 50,000 contracts. we have only reached 50,000 contracts six times in the last 15 years. we are right around record highs. bears hasys, certainly thrown in the towel. but how quickly can the yen positioning reverse? a global strategist joins us in the studio. what kind of snapback do we see if they say forget it, i'm out of here? >> which interesting is that that data comes out with a bit of a lag. the market was already bullish on the end 4-6 days ago. the move has come early in the fiscal year for japan, which is also unusually. usually in april, you get capital outflow from japan. the yen usually weakens up. you have a lot of things going on. long physicians, the beginning of the new fiscal year, capital outflows -- things have normally depressed the yen are instead normally raising it higher. it is perplexing. it's not relative interest rates. there is

ukrainian president meeting with japanese prime minister shinzo abe in tokyo.ng if ukraine continues with internal reforms japan will continue to support the country to the tune of $1.85 billion in aid. united airlines fired the flight attendant that deployed an emergency evacuation slide on an airplane after it arrived in houston on monday. it didn't identify the attendant but believed she deployed the slide intentionally. it provided no reason why she did that, though. walmart will switch to cage free eggs by 2025. it comes a year after it urged thousands of suppliers to curve the use of antibiotics in farm animals. that's the news update at this hour. the halftime report is back after a quick break. frank abagnale. convicted felon and con man. that was a long time ago. you know, they made a movie about it. you were shown to be quite skilled at fraud. times change. now i help catch the bad guys. me too. i help banks detect fraud by applying cognitive analytics to public financial records and social media. so if somebody said, "catch me if you can...?" we can.

david: if you are shinzo abe, you are more concerned about the economy than anything else.his makes his job much more difficult. if he is trying to get inflation and growth going, a strong yen hurts them. economythe japanese used to have lower commodity prices, will be good for the economy to import most of their goods. getting back to the move in the end, you had a great chart earlier, it has been in a downtrend, we see big move but this move in the last several months is barely even a blip on the screen. the long-term trend of the yen has been weaker. >> the magnitude of some of the moves we are seeing in the japanese yen. >> here is what it has done today. all of the major currencies that have a cross with the yen are seeing declines, the south african rand has consistently seen the deepest declines. you can flip this to look at year to date and you see similar movement, more magnitude in terms of movement but all of the major currencies falling versus the japanese yen. if you look at the base of the town falling the most. that's the pound falling the most -- the town fa

nejra: for the last three years shinzo abe could say, corporate earnings are rising and that is a signare working. that does not seem to be the case anymore. this chart shows how the nikkei 225 has been tracking the dollar yen. as it has risen, stocks have fallen. most of japan's biggest companies reported results in early may. the yen's strength is prompting stocks. to cut their fast retailing accounts from 7% of the nikkei 225. that aoneta estimates one yen change affects its profit by 40 billion yen, the country's highest profit earner and biggest employer. anticipating a even broader slump, foreign investors are already leaving japanese stocks. billion inumped $46 shares over 13 straight weeks, the longest stretch of net sales since 1998. it is not all negative. have a rise partly because of a stronger yen, which lowers the cost of fuel prices. earnings could fall the most since 2012 this quarter. it looks like it is all about the yen. hans: moving back to this germany story. amid the controversy surrounding the pentagon papers, we spoke to a local member of the german parliament.

china, the u.s., japan, and the 5% bigger sense shinzo abe took power. china is a quarter bigger. are we? well, we are halfway there to the 2% inflation target if you strip out energy. if you look at core inflation, basically back to zero and 12 % inflation.t to 2 this shows you wage inflation and the growth in profits, and i think for us to get into this virtuous cycle as part of that story, the second one on your right side will have to move 9% average profit growth for the topix index. rishaad: thank you, david. mitsubishi,o looking at further acquisitions active in recent years. also the asia-pacific, a new expansion drive. let's head over to tokyo. -- new president of japan's biggest bank have planned? mitsubishi hado a new president start last friday. he has been a longtime candidate for president. with him last week about his plans, and he was quite explicit in that the bank indefinitely interested acquisition opportunities, and pointed out asia and the u.s. as being the two key regions for that. mitsubishi in the united states owns union bank, california-based region bank,

we have heard from many government officials, shinzo abe said there will be no knee-jerk reaction.he finance minister saying these rapid moves are undesirable, but take a look at the trajectory we are seeing in the yen. this is what we saw and october 2014, when we had the surprise from the bank of japan, corroded expanding that stimulus easing package. were starting to see that moved to the upside over the past week up 11% thisen is year against major currencies, a , 3% againstst week the dollar, 2% against other major currency peers. angie: they are getting out of japanese equities. billionhat's right, $46 exodus from japanese equities confounding a number of investors. we saw for the longest time that the only way is up for equities, and the only way down is the yen, and that has been flipped. we had that selloff and mass exodus from japanese stocks. world's worst for behind equity marks in italy. citibank joining in last week and cutting expectations for japanese equities this year, joining blackrock, saying it has been disappointed. if this spending continues to decline into j

prime minister shinzo abe has visited kumamoto, with rescue teams for the earthquakes.ce the next budget to address the economic costs that killed 48 people and disrupted production at several companies. the budget will include -- include funds for housing, businesses, and infrastructure. has released a 12-year-old palestinian girl ought to be the youngest female palestinian in the jail. she was given 4.5 months after confessing to planning a stabbing attack at a settlement in the west bank. she was freed early on appeal. israel blames a wave of violence by palestinian religious leaders. the palestinians say it's the result of living under israeli occupation. the presidential candidates in the philippines held their last televised debate, concentrating on manila's chronic traffic. miriam center iago says she would build a new capital, while the others pledged to ensure current projects are finished. another would ban elderly vehicles from main street and held elevated train lines, while the vice president will create new transport and communications agencies. powered by

shinzo abe has been clear about what he's trying to do and the yen is rallying.a vote of no confidence in central bank policy and there is a huge run now for safe haven assets. and the yen is obviously one of those. and so the concern that we have is that this kind of bearish view is going to take hold for some time and i think that the rally in the yen, while it shouldn't be happening in theory, it is happening. and, you know, we're looking for probably, you know, we think there is some concern going forward in the markets. >> okay. so boersris, they can't have a stronger yen. they can't do it. do you expect them to step in here soon and try to weaken the yen in. >> possibly. not quite yet. the problem with intervention is that they really have to commit huge amounts of money and huge amount of time to go out there and intervene because they're going to be the only ones intervening against their currency. and in past, it has always been unwound by the market. the market challenged the doj and brought it back down. other reason the yen is so important is because

. >> what does it mean for somebody like a shinzo abe?t does it mean for other political leaders? >> in theory it means get going on the third arrow in the case of japan. in the case of europe, get going with a whole list of things they're not doing. in practice they're going to stand behind central banks. central banks are like doctors, they never walk away from the patients. even though they don't have the right medicine, they will continue prescribing whatever they have. yes, there will be collateral damage and side effects but they'll never walk away. >> how much of the collapse in this whole theory is negative interest rates? the federal reserve has put its interest rates on hikes. they thought they would be weakening the currencies and it's not happened. >> for me it's stunning to wake up and see the yen at 1.08. i think if you bring in an fx trader they'll say the pricing of fx is focusing more on net differential. >> look, this race to the bottom, if you're going to devalue your currency, you can't do it when everybody is trying t

this is when shinzo oblique took power, when the boj said this -- abe took our and when the boj said take this aggressive stance. hereis the artificial blip , halfway towards the goal if you strip out cheap oil. has notess, the boj done favors for the bank of japan for other central banks as well. if you strip about energy and food, you are back to zero. has not moved the needle as much as the boj wanted. again, timetable, six months this time next year, so towards the third quarter of next calendar year. now, have a look at this. can we get this graphic up that shows you where it has worked and where it has not? when you look at profits of japanese corporate scum a function of that week japanese up 9%,iving stock prices profits on companies in the topix index, but real wages have fallen 1.5%. the figures released last week show that japanese companies cut their forecasts for inflation for the next five years. what is that mean? that's the outlook for pricing. why would you raise wages if you cannot see pricing ahead? that is the inflation read. let's look at gdp growth. power, theo