can to shiva deliver the results? -- can to shiva deliver the results? an hour away. looking out for earnings pay we have the national bank and focus. if you look at -- in terms of the actual hard-core numbers, in terms of expectations, you look at revenue expectation of 5.79 9 billion out, the stock is 1.7 below. so fard've returned 3.2% this year. that is again a gain of 20% in the past year. islamic bank, last 12 might return of 12.5 return. that is 11.3% above the consensus price. that stock. finally we are on watch for crude oil. oil minister is saying he is seeing signs that global oil stocks are gradually dropping. the other part of that story is we are a look out ahead of the weekly inventory number from the eia which is currently predicted to see a 1.5 million barrel drawdown. that is all we have for this edition of "bloomberg markets: middle east." david: daybreak europe is coming up on the top of the hour. this is bloomberg. ♪ manus: the fed shifts gears. chair yellen says the central bank's focus has moved away from crisis management and is n

the stocks are watching in the region, shiva may miss the earnings that line once again as soon as wehought toshiba had got its act together but the shareholder approver -- approval including westinghouse filing for bankruptcy. 42%, china is planning to set up a new area, a lot of construction players very strong. ceo.h scope has a new the cash expected to rate but if you look at the you can see the balloon --blue line -- tomorrow really expected to show dealing as to how it is with the aussie dollar versus it's very hot property market on the east coast with property of the percent over a year. expected. an update from hong kong. a and nicola sturgeon says second scottish independence referendum is the right one. a resistance will delay from the u.k. government untenable. >> scotland should have a choice over our future when the time is right. when the terms of the u.k. exit from the eu are known. it's gotten so chooses to opt for a different path. the prime minister is clear that the time she is working to his two conclude agreements by the autumn of next year through spring 2019. t

if they bump or shiva down, anyone who owns the topix index will have to sell toshiba because it willdropped and shares will fall off. that is what investors and analysts are looking at right now. rishaad: what are people telling you at the moment? , it had a load of accounting problems and would take a year to sort them out, didn't, and then earnings delayed twice, then earnings come out without the auditors signing off on it. are people saying it is time out,company sorted itself delisted, and got its house in order? >> i think that might the the clean way to go about it. toshiba has shown us time and it does not have its house in order to over years , but the company does employ over 100,000 people. taking a big move by delisting it would be a political move, so the tse is hesitant. the next big shoe to drop this what they do with the memory chip sale. that will dominate the headlines of the next month or so. is foxconn going to come in? how much will they pay? will the japanese government make a bid somehow? keep an eye on that, and also decides 2-d listed, which is a shock, but a

11 as a way of filing for bankruptcy because this helps quantify the financial liabilities for to shivaiba, removing a lot of overhangs about the future of this nuclear project. also for the customers westinghouse. i think the market is very smart. a clearly understanding the fact that much of the overhead is removed. that is why the stock price is reacting positively today. >> on igo phillips shares -- surginghillips shares to unload shares. a $13 billion transaction. >> the inventory overhang is still there. we see were coming back in the independents in north america. we see a lot of volatility in the price. aat is it take to win? great portfolio, which we know we have. a lot of possibility. a strong balance sheet. we are telling investors here is a place you can invest in oil with a lot of predictability. we will perform to the cycles and is what we intend to do because the cycles are getting closer together. >> the south african president jacob zuma has fired his finance minister and eight other cabinets in a late-night move that threatens to split the party. -- who has no financia

japan still on that lunch break, but to shiva the lacquered, down 4.5%.ip business to pay down some of its debt, but there is concern once again and that to shiva could be hitting hurdles come about one of the weaker performers in the sector, and the switch out of health care stocks across the region. alibaba health down 2.5%. that the city market under pressure after those two-year highs reached last week, so basically at the moment we are seeing japan lifting the regional index, but a mutated start to the trading week, and we will have more markets on holiday tomorrow as well. hong kong is on holiday as well. thank you for that. let's continue our discussion with daniel morris, senior investment strategist at bnp paribas. we were talking about some trade difficulties in the future. china's pmi falling last month. this is signal more trade challenges in the future. this weakness was concentrated on exports. >> certainly the depreciation you had in the yuan should help chinese exports. necessarily good for the u.s. trade deficit and the importance that ha

my question is how is it that your department can exhaust all the resources to indict shiva but when it comes to indicting police officers you all then indict anybody. i know the process in baltimore city where we had these community meetings that were held at privileged places where poor black people had no access to such as universities. you all literally ignored everybody that was said. we asked for civilians to be on trial for that was not what the judge cited today, that wasn't the agreement that was signed. why is it that you all can talk about we have to teach children fair plate but when it comes to protecting black lies the obama administration and the doj under your leadership failed to indict one police officer, failed to hold one person accountable for the death of hundreds of unarmed black people? >> that's an important question and it highlights and how we talk about these issues. as i said before, when you spoke with on the overwhelming goal we all have which in this case, is is holding people accountable. whether it's an organization like fifa or law enforcement offic

a 5 -- twoosted shiva posted a $5.2 billion loss. company has lost billions of dollars with its westinghouse u.s. power business. lvmh rose shares of to records in paris. were boostedndbags by its fashion unit. sales increased 15%. it is the biggest sign yet of a for the luxury industry. police dragged a passenger off a united airlines flight that was over both. authorities say that will be an investigation. meanwhile, an internal investigation will be for united. united claims the passenger was being belligerent after being asked to leave the plane. jonathan: we are less than two weeks away from the first round of the fred -- the front election. the two-year -- the french election. the two-year spread is the highest in quite some time. that spread run across the curve. -- we are here with jurrien and vincent. vince, let's start with you. is this a big enough insurance premium head of the french elections? >> probably not. -- we will see a narrowing in the spread up to the general election in june. if there is an accident, that could

the president of to shiva is fighting to prevent his company from being delisted from the tokyo stock exchange. >> according to the rules of listing, if the tokyo stock exchange decides to do list the company, it is obvious that it thinks it will threaten the stability of the market. if it's not delisted immediately. so we would like to make our utmost effort to avoid delisting. >> to shiva's share price rose 87% during 2016 but the gains were almost entirely wiped out by the end of the year. multibillion dollar write-down triggered one of the worst ever share declines for a major japanese company. the taiwan-based tech firm foxconn has termed to shiva a potential lifeline, by offering billions for the chips business, but the sale would have to be approved japanese regulators. kate: some of the other business headlines, a european telecom company has filed papers to begin trading shares of its u.s. branch on wall street. another $1raise billion. french billionaire has been expanding his region recent years. apples main parts suppliers has filed a counter suit against it in u.s. court