japanese's prime minister shinzo abe has a series of meetings with business leaders and others. he's expected to announce japan's cooperation with other leaders. it was the first gathering since an agreement was made last month. the tpp can come into effect at an early date. but not only trade is being discussed here. president obama has raised tensions about the tensions over the south china sea. >> my visit here under scores our shared commitment to the waters of this region and to the freedom of navigation. >> reporter: obama also met separately with the host of the meeting. philippine president benito aqilla in manila. obama stressed that maintaining order based on rules is indispensable for the security and economic development of the region. he added that china must cease land reclamation in the south china sea. a position that was bked up by the philippine leader. >> the freedom of navigation and oversight of the south china sea must be consistent with international law. >> reporter: meanwhile, the chinese president is avoiding the issue at the talks. he said the summit s

japan's prime minister shinzo abe has a series of meetings on his agenda with policymakers and business leaders. he is expected to announce japan's commitment to regional economic integration. abe met with leaders of the 11 other trans-pacific partnership members on the sidelines of the summit. it was the first gathering since a broad agreement was reached last month. the leaders issued a joint declaration to complete ratification of the deal in their own countries quickly so that the tpp can come into effect at an early date. but not only trade is being discussed here. u.s. president barack obama has praised patience over china's claim to the south china sea on to the agenda. obama inspected a philippine naval vessel to underline the u.s. commitment to the freedom of navigation in asian waters. >> my visit here underscores our shared commitment to the security of the waters of this region and of the freedom of navigation. >> reporter: obama also met separately with the host of the meeting, philippine president benigno aquino in manila. the philippines is among those countries claiming

. >>> japanese prime minister shinzo abe has asked for a xplemt tri budget to jump start the economy. it's part of emergency measures to realize abe's vision at what he calls a country where everyone can play an active role. the government has lalso adopte new policy guidelines under the rules of the transpacific partnership free trade pact. >> he told a cabinet meeting on friday that japan's economy remains on a moderate recovery path. the nation's economy has shrunk for the last two quarters, abe has set a goal of increasing gdp to 600 trillion yen or $5 billion, about 20%. the draft includes handouts to 10 million low income pensioners and plans for financial support to farmers. chief cabinet secretary suga said the size of the budget had not been decided at this point and said it will be focused on urgent necessities. >>> japanese stocks edge lower as investors took some money off the table. >> japanese shares are technically in a correction phase and one market watcher sa domestic retail investors and foreign investors still away after their thanksgiving holiday. let's check the

. >>> prime minister shinzo abe has asked for a supplementary budget for the current fiscal year to jump-starthe economy. it's part of emergency measures to realize abe's vision of what he calls a country where everyone can play an active role. the government has also adopted new policy guidelines to support domestic industries under the rules of the trans-pacific partnership free trade pact. abe told a cabinet meeting on friday that japan's economy remains on a moderate recovery path. the nation's economy has shrunk for the last two quarters. abe has set a goal of increasing gdp to 600 trillion yen, or nearly $5 trillion. that's an increase of about 20%. the draft budget includes money to fund handouts of about $240 each to 10 million low-income pensioners. it also includes plans for financial support to farmers. the chief cabinet secretary yoshihide suga says the size of the budget has not been decided on at this point. he says it will be focused on urgent necessities. >>> business managers are eyeing new opportunities in children's sports. a slowing birth rate means parents are willing to s

shinzo abe. it will be historic because president park has refused to meet prime minister shinzo abe since she took office three years ago. it will set an important tone between the two countries. there is a lot to be ironed out. i think historic baggage still exists between them. i'm not sure if most of the hot button issues will be ironed out tomorrow but the most important thing for them really is to meet eye to eye. the optics is very important because it tells the international community, the region how important the trilateral relationship between the three countries are, to serve to be a key driver of the asia pacific going forward. >> do these leaders have pressure at home to make progress here? >> they do very much. the constituents, the reporters if you like, in these countries, and constituents in china all expect the governments, their respective dwofts to do the right thing. the right thing in the eyes of these constituents come in conflict with these different countries. they have all different perspectives everyone feels they're right, no one feels in a wrong position. there is a lot

the countries, the bilateral relationship between seoul, since she and prime minister shinzo abe took power in japan has been profity, largely over the historical issues, women forced into sexual slavery to serve the military before and during world war ii. there'll be a first bilateral talks with prime minister shinzo abe on monday. much attention focussed on those. they are destined to be short. not much great. it will be a symbolic step toward, the united states wants it to improve, and wants the two key allies to be bound more closely together in a way to counteract the rise of china. >> proo testers condemn the murder of a book publisher. books were published by the author. he was also hacked to death. roy was an atheist. four secular bloggers have been murdered through it. they are blamed for maulting the attacks. >> the highest court in guinea confirmed the result of last month's presidential election, the judge dismissed claims of fraud after the re-election. president conde. gerald tan reports. >> reporter: a tans of victory -- dance of victory. there was little doubt about how the ghanaians fe

prime minister shinzo abe claims everyone can be a winner under his policy. he has set a gdp target of 600 trillion yen or $4.8 trillion, meaning an economy that's 20% bigger. to make that happen he took the unusual step of putting a direct request to corporate bosses, raise wages. the companies have been reluctant to comply. one manufacturer sitting on a pile of cash is sony electronics. its retained earnings amount to three times its sales. the company did raise wages this year, but the ceo says they need to save for a rainy day. >> translator: there are good times and bad times. we need ample retained earnings to prepare for a crisis or else we will be in serious trouble. >> reporter: a cautious strategy, but it's the economy that will be in trouble, say some analysts, unless big companies start using their earnings more productively. >> translator: the important thing is to deliberate over the best way to use the money the companies have earned. >> reporter: abenomics did succeed in putting more money into the hands of companies, especially large corporations. a

the fact is that since prime minister shinzo abe, and xi jinping have taken over, there has been a lot of attention and hostility between china and japan, and south korea and japan. it's made it hard for the stars to align. there's a lot of patient diplomacy to get it in place. >> it's remarkable. there has been serious issues. it could have derailed the process. somehow it's an achievement in its own right. >> one of the long-standing tension points between south korea and japan has to do with the comfort women, the women forced into sexual slavery by japan before, and during world war ii. south korea wants an apology. japan says no. why are they resisting? >> so, part of the reason is that i think japan thinks 20 years ago, at the time, the chief cabinet secretary gave a statement that was effectively an apology. they set up a private fund paying some funds to former comfort women, and that's the end of the story, they don't need to say more. the south koreans say it's not enough, it wasn't offial enough. funds were not official, and the end they were stuck with the impasse. where th

a panel has unveiled a draft plan the officials say could expand the economy by 600 trillion yen or about $5 trillion a year. they say achieving that goal outlined by prime minister shinzo abe involves cutting taxes for companies and raising workers' wages. the private-sector members of the council on economic and fiscal policy say japan has made a lot of progress toward economic recovery and lifting itself out of deflation. they also point to improved corporate earnings, but they say corporate capital investment and wages have yet to fully recover. the panel members are urging the government to lower the corporate tax rate to the 20% level as soon as possible. they want businesses to consistently expand their investment and hike wages, but that may not be easy to achieve. officials at the finance ministry stress that securing tax revenue is more important. the panel officials say large pay hikes are necessary, including raising minimum wages. the panel's recommendations are aimed at boosting nominal economic growth to about 3% annually over the next five years or so. the panel officials describe their strategy as urgent, and they say they'll compile it by the end of this m

it has bigger potential growth expectations. i think what prime minister shinzo abeng to do is get people back into equities, make it an equity class they can put their savings in. they used to do that in the 1980's. they're trying to get people on board with this again. how successful is unlikely to be? >> i think the lessons have been .earned this is not the 1980's anymore. there is a positive correlation between the ipo and employment growth. it will hopefully foster employment growth and economic growth in the japanese markets. that is the expectation to this is why so much money is being left on the table. rishaad: very quickly, just to get this out of the way, did you invest in this? >> we did not invest at the initial ipo price. we will be adding all three companies to our portfolio with the perspective of keeping those names over the next 3-4 years. facebookcome -- alibaba, facebook. which ipos are you talking about? happen propose that will the a transmission mechanism for that happening? >> it has been a tough few months for the u.s. ipo markets. pricing re

kerry and president has begun her first ever bilateral meeting with shinzo abe.join china's premier to put aside three years of strained relations and declare complete of slowing because economies. trilateral talks have been suspended since 2012 over and -- territorial disputes and japan's military legacy. back to japan, the latest in the markets with julie. -- juliet. let's see how they come out of the lunch break. by 1.9% still looking at that level at the moment. china, pretty flat. we have seen good gains in south korea. -- kospi is high. taiwan's market also high. we are seeing selling in the region despite the positive month of october that we had. asia-pacific index is down by almost 2% with every index -- sector in the red. we have been watching those casinos in hong kong. they have been doing really well despite the fold in macau revenue in october. galaxy entertainment started the day in the red, but looking pretty solid in the session. elsewhere, weakness from the usj.mitsubishi watching, theeen four-year profit. it was a 3% increase, but that is the s

it has increased considerably under the stewardship of shinzo abe and his party, and i think he wants to continue the process. overall, create a sense of increasing the wealth affect that he's been trying to create since 2012. >> is this a shake-up of the corporate culture, the start of a privatisation culture? >> that is the key question. is this going to be a starting point or the end. japan has a mixed record on privatisation, in the sense that the government is involved in a number of companies. it owns a third of japan's tobacco. and several major companies. so the privatisation, we use that word. half-hearted. not full-blooded and genuine and sincere and idea logically driven. she wanted to get those corporates off the government books and into the private sector. the suspicion with shinzo abe, and the japanese establishment is what some analysts call a toy privatisation. the government retains almost 90% of the shares in the holding company, and the two sub-sidhuaries. the question is is the government going to follow through, and once that privatisation genuinely occurred. wil

russell: as you mentioned with the japan rally, it has been three years since shinzo abe came into officea lot of that was driven into foreign institutional investors who piled into the well-known stocks, the blue-chip companies. feedback from those institutions that they want some value from the lesser-known stocks and they want to be put in touch with these companies that are not as well known. it arranged meetings with 25 lesser-known japanese companies from all around the country. this is taking place this week with global investors. it is dubbing these 25 companies rising stars of japan's economy. these are companies that have a .ot of high potential they arrange these meetings with these institutional investors to discuss their growth prospects. angie: interesting. which companies are taking those meetings? range ofvery wide industries. we have a drugstore chain based in ishikawa. , a wide equipment maker range of companies in various industries from health care to retail to wholesaling. rangedefinitely a broad omura is selecting these companies from. the average foreign ownership i

shinzo abe thinks it needs to embrace the future. ai uchida joins us from the business desk. what exactly does he have in mind? >> he has in mind drones and self-driving cars. actually, he wants to see them in the skies and in the roads in less than five years. in other words, before tokyo hosts the olympic games. abe told a gathering of government and business leaders to work hard on these innovative technologies. >> translator: we will lead the world in putting the fourth industrial revolution into motion. through a transformation in productivity by investing in the future. this is a race against time. >> abe said he wants to see the automated vehicles cruising japan's roads by 2020 when tokyo hosts the olympic games. the prime minister directed the officials to step up their testing, trials and building of infrastructure. abe has also set his sights on drone delivery systems. a panel of private and public sector officials will examine ways to get that idea off the ground in three years at the earliest. he also urged the private sector leaders to boost their investment and hike work es'wages to achieve a virtuous econ

government,zo abe shinzo abe is targeting 2% growth rate and is negative number is certainly not consistent with his target. he hasrespond. anna: looking at the market today, work out what his reaction to japanese gdp data and macro news and what his reaction to the dreadful events of friday in paris. the when you look at where the currency is right now, the japanese currency, where are your expectations from where it heads to hear? it is perceived safe haven door times a geopolitical -- safe haven during times a geopolitical risk. still okubo: in terms, i think the direction is for yen to weaken as long as the u.s. fed is expected to hike in deskber or the very new near future. the direction of the yen and we never know. if there's any more publications on geopolitical side, yes, risk could drive that yen higher. the main outlook, the majority is for the yen to weaken. aunt what he or -- anna: what are your expectations of the draft will events of friday and it seems market expectation around fed's interest rate seem to lessen a little bit since friday. this plays into the thinking at the boj and other global, ce

has the details from the international media center near the venue. >> reporter: world leaders, including president barack obam achinese premier le keqiang and japanese president shinzo abe will attend the meeting. with the paris attacks fresh in their minds, the security authorities here are on their highest alert. malaysia's police chief said in a statement on thursday night there were reports of imminent terror threats. it says the threats have not been authenticated, but more officers have been mobilized. >> we deploy around 4,000 personnel, but now it's 7,000. we increase to 7,000. >> reporter: president obama and many other leaders are arriving from manila where they attended the g20 and apec forum. those meetings are supposed to focus on economics while the east asia summit normally tackles political and security issues. this year's summit is scheduled for sunday. sovereignty issues in the south china sea are expected to be a focus of the discussion. beijing's claim to the almost entire south china sea is shown on chinese maps with a nine-dash line that stretches deep into the maritime heart of southeast asia. it clashes with claims by some asean members including

has to do. up next, japanese prime minister shinzo abe says he will cut corporation tax more than planned. ♪ wee in a pick and choose world. love or like? naughty or nice? calm or bright? but at bedtime ...why settle for this? enter sleep number. don't miss the semiannual sale going on now! sleepiq technology tells you how you slept and what adjustments you can make. she likes the bed soft. he's more hardcore. so your sleep goes from good to great to wow! gift the best sleep only at a sleep number store. save $500 on the veteran's day special edition mattress with sleepiq technology, plus 36- month special financing. hurry, ends wednesday! know better sleep with sleep number. guy: london and the poppy. big day for the u.k. here are the stories you need to know this morning. david cameron will deliver his list of demands for the u.k. relationship with europe. in a letter to eu president, they prime minister will demand reform in four key areas. rights for eu countries, increased economic protection within the eu, greater powers for national parliaments, and restriction of welfare rights for nonr

shinzo abe. what do you think the market response to that is going to be? are thatl indications japan will go through a technical recession. look ataid that, if you the data that hasout recently, sheena reorders, they have been quite strong. all indications that the weakness we have seen in the past few quarters is going to be followed by a strong rebound. the boj meeting coming up. it is unlikely that they would look at these numbers and increased the quantitative easing. globally, growth is picking up. angie: thank you so much for that, live out of sydney as we continue our coverage. .esponse is one thing more coming up. ♪ welcome back. you are watching bloomberg television's special report, "terror in paris." yvonne man is here with the latest headlines. officials have told the associated press that key suspects in the paris killings were stopped by police after words near the but -- near the belgian border and then released. a 26-year-old identified as the man who rented a car that took again to the concert hall. elgin is becoming the early focus of the investigation. he was born there and one of his brothers is among the seven dead attackers. another brother

shinzo look at yen abe took office three years ago. he put policies in place to make in the hopekened companies would boost spending and workers' paychecks, that has worked. geoffrey: increasingly people are asking when will patients run out -- patience run out? do you buy or sell yen? then confidence will be lost and there will be a repatriation of assets from overseas. if they lose monetary and fiscal credibility, then we worry about the change. what is thencine: point of trying to weaken yen further? no other way.e is if you do not have the base of fax from higher wages or anything, it still has to happen. with global demand suffering, there's not any other alternative. to dovetail foreign exchange the political economics of euro. euro weakening today. can government leaders will a currency weaker? can mr. hollande, miss merkel, prime minister cameron, can we adjust our economics or help our fight against terror with a weaker euro? geoffrey: right now, governments are trying to stay away from monetary policy. look at what francois hollande announced yesterday in terms of fiscal spending. the notion they are not going to look at budget rules rig