for softbank shareholders, this could not come soon enough. the stock has been clobbered this year, falling 28% yesterday before the buyback announcement. this puts the company's market value below the some of the -- below the sum of the values of its shareholders, which includes sprint, alibaba,

softbank shares have soared.uld spend a record billion -- record $4.5 buying back nearly 15% of its stock. however, softbank says it will more loans.o instead, it will use cash on the sale of assets to make up the total. 18%.s are still down powered by 2400 journalists in over 150 bureaus around the world, this is bloomberg news. breaking news out of australia. the rba has just released minutes of its february meeting. let's head to paul allen in sydney with the details. paul: the bank of australia remaining firmly on message. low 2%. a record they reiterate that lower needed and noted domestic newstive lately, especially on the employment front. there is little mining investment pickup. there is global volatility at the moment, particularly in china. challenge for chinese authorities regarding the exchange rate. very similar to what we heard from glenn stevens when he gave testimony to parliament last week. remaining firmly on message, as mentioned. where cash to know might go next, look no further than the swap

are helping softback -- softbank. cashhave been hemorrhaging over the past year, but the carrier managed to increase its profit forecast for 2016'twas much as $8 billion. emily? emily: is this really a turnaround for sprint? aidi: we have been asking that, haven't we? the ceo was very confident and he went so far to say that there was a perception gap to see that sprint was doing well. his executives are working hard. would to that extent, i agree, because the view of the turnaround is driven largely by these cuts rather than actual growth. the profit forecast has been up, but it has certainly be in -- certainly been a tough year. sprint is the second against investment for softbank and of course as you would know, the biggest investment was alibaba and that stock is down this year as well.

and you can't even compare with softbank's, own past purchases a -- softbank's own past purchases. >>s right. this is by far the largest buyback in their history. it would be worth about 14% of their shares. it's also one of the biggest in the market. softbank's biggest rival announced that 350 billion buyb ack earlier. angie: why are they doing it now? >> softbank has been hammered this year. it was down 28% yesterday before the buyback announcement. not only that wiped out a decent chunk of the ceo's fortune, but brought the market cap below the value of its total shareholdings. for a lot of investors it could not have come soon enough. angie: ok. shares are up by the daily limit today. what are the chances, though, that this rally will last? >> that's right. i think the shares are having their best day in seven years. there are three major variables to softbank, one thing their domestic operations, which will probably remain a stable source of cash flow in the near future. two source spots -- one is the valuation of alibaba, which will depend largely on the prospects for the chines

for softbank shareholders, this could not come soon enough. stock has been clobbered this year, falling 28% yesterday before the buyback announcement. this puts the company's market value below the sum of the values of its shareholders, which includes sprint, alibaba, supercell, as well as yahoo! japan. one thing that helps the investment is it will not borrow more money to pay for the buyback. it is good news because the company is already $100 billion in debt. instead, softbank withdrawing its cash holdings as well as asset sales to pay for the acquisition. guy: anglo's $5.6 billion loss, that is full-year earnings, and they announced a massive overhaul to operation. rating was cut to junk yesterday by moody's. what do you think investors are convinced about the strategy update that we have seen this morning? jesse: it seems the plan outline -- what we saw this morning, a complete exit from iron ore, coal. they want to focus on consumer-driven materials that will benefit from long-term growth trends of the economy evolves. it is quite a sign

softbank says it will not resort to more loans.t will use cash and asset sales to make up the total shares. they are still down 18% this year. $30 inmaking gains above new york, with saudi arabia and russia set to me today. sources say venezuela may join the talks. wti rose to an eight-month high yearte stocks hitting a 90 high. traders shrugged off concerns that iran's return to the market would add to the glut. haidi is monitoring the opening. we saw downward pressure yesterday. how is today looking? haidi: we are seeing a turnaround in markets. in the late afternoon session yesterday, we saw mainland stocks coming off the worst of the day pass lows. down by about 2% at yesterday's open. today, at the open, shanghai up .ike .6% building on yesterday's gains. we had a stellar relief rally for all of asia, the asia-pacific up by 4.1%, the biggest rally we have seen since last september. we are giving some of that back, particularly when it comes to these markets like the sx sydney, stocks down by .4%. big iron ore miners gaining, b

softbank is moving up for a second day. exuberance,of that the share buyback plan. we talked about woodside. domino's pizza, better than expected results. that is one of the movers to the upside in sydney. the people's bank of china weakening by the most since january 7, so we are seeing some weakness when it comes to growth on short and offshore. this is the offshore yen. weakening by just about 2/10 of 1%. in terms of the picture when it comes to crude, we are seeing a little bit of a recovery, a

japanese wireless customers theirg softbank increase income by 7%. by comparison, sprint has been hemorrhaging cash over the past year. the u.s. carrier increased its profit forecast as much as $8 billion. virgin australia having a rough time, tumbling by the most in three months despite a return to profit. first-half net income coming in at $32 million from a year ago. paul allen sat down with the chief executive and talked to him about the impact of the cheapness of fuel. >> what is important here is to a third of this improvement was due to fuel. two thirds were driven by the fundamentals of the business. >> some old fuel hedges in the second half >> because fuel hedging winds down. we are expecting to see a

for softbank shareholders, this could not come soon enough. stock has been clobbered this year, falling 28% yesterday before the buyback announcement. this puts the company's market value below the some of the -- below the sum of the values of its shareholders, which includes sprint, alibaba, super cell, as well as yahoo! japan. one thing that helps the investment is it will not borrow more money to pay for the buyback. it is good news because the company is already $100 billion in debt. instead, it withdrawing its cash holdings as well as asset sales to pay for the acquisition. guy: anglo's $5.6 billion loss, they announced a massive overhaul to operation. rating was cut to jump yesterday by moody's. what you think investors are convinced about the strategy update that we have seen this morning? jesse: it seems the plan outline -- what we saw this morning, a complete exit from iron ore, coal. they want to focus on consumer-driven materials that will benefit from long-term growth strategies. it is quite a significant change of strategy exit. i

for softbank shareholders, this could not come soon enough. has been clobbered this year, falling 28% yesterday before the buyback announcement. this puts the company's market value actually below the sum of the values of its shareholders, which includes sprint, alibaba, the game maker supercell, as well as yahoo! japan. helped thehat really announcement is it will not borrow more money to pay for the buyback. it is good news because the company is already $100 billion in debt. instead, softbank withdrawing its cash holdings as well as asset sales to pay for the acquisition. guy: anglo's $5.6 billion loss, that is full-year earnings, and announced a massive overhaul to operation. they are currently saying rating cuts to junk yesterday by moody's. what do you think investors are convinced about the strategy update that we have seen this morning? jesse: it seems the plan outline is ambitious, but they are actually talking about a complete exit from box commodities. they want to focus on consumer-driven materials that will benefit from long-term

to the best day ever, softbank ceo is officially having the best day ever.onday, stock bank market value -- softbank market value has surged ¥1.2 trillion after the billionaire ceo outline plan to spend ¥500 billion to buy back 14 per 2% of shares. -- 14.2 percent of shares. that does it for this edition of "bloomberg west." thanks for watching. tomorrow we are all about gaming. ♪ >> the following is a paid presentation for the bissell revolution. >> get a bissell. the bissell revolution. got kids? get a bissell. the bissell revolution. got carpets? get a bissell. it truly is a revolutionary new product cleaner from america's number one brand in carpet cleaners. you won't believe you can get this big, powerful clean from

shery: softbank is surging up 14% after saying it is ready to spend a record amount buying back stocksould be worth $4.5 billion. how does this compare with their past purchases as well as others? >> at ¥500 billion, this is by far the largest buyback. it could be worth 14% of the companies in shares. to give you a comparison, the biggest rival in japan has announced a $350 billion buyback. the stock has been simply clobbered this year, falling yesterday before the announcement. this will put the market value below the sum of the values of it shareholdings, which includes sprint alibaba, as well as yahoo! japan. one thing that helped the announcement was softbank said they would not borrow more money for the bite back. it is good news because there are any $100 billion in debt. >> of $5.6 billion loss and a massive overhaul to operations. what is it that you think investors are commenced about in the strategy update that we have seen this morning? >> it seems this plan their outlying is ambitious. moran to singly, they are talking about a complete exit from bulk commodities -- iron or

>> this is by far the largest buyback in softbank's history.t would be worth about 14% of the company. the bank's biggest rival in japan has announced a 350 could forn by that shareholders, this cannot come soon enough. the stock was clobbered this year, falling before the buyback announcement. sum put the value below the of the values of a chair holdings which includes sprint, alibaba, super cell, as well as yahoo! japan. they will not borrow more money to pay for the buybacks. it's really good news because the company is already $100 billion in debt. it will withdraw its cash holdings as well as asset sales for the acquisition. >> bangalore has posted a $5.6 billion loss. -- aan bass of whole massive overhaul to regulations. what are investors convinced about the strategy update we have seen this morning. ? ? . >> this plan they are outlining is quite ambitious. more interestingly, they are actually talking about it complete exit from both commodities. they want to focus on consumer driven materials that will benefit from long-term growth tre

analyst is say there are worries about softbank's telecom business in the u.s. in 97% of stocks listed on tokyo's main boards shows los s losses. but share prices apparently dropped to an oversold level on friday so let's see how the markets turn out monday when china comes back from the holidays. mayu yoshida reporting from the tokyo stock exchange. >>> other markets, hong kong's hang seng extended thursday's losses. the index down by 1.2% finishing at 18,319. that's the lowest close since june 2012. banking shares led the decline there. seoul's kospi index dropping 1.4%. 1835 for the finish. the lowest close there in nearly six months. but auto shares like hyundai motor and kia rose. investors felt the stronger yen could make their products more competitive. most other markets in the region ended lower. indonesia's index down by 1.3%. sydney's s&p down by almost 1.2%. >>> bank of japan governor kuroda spoke in front of the lower house committee on the yen's rapid rise and tumbling share prices. he says the negative interest rate policy isn't behind the recent

inpex became the major loser while softbank extended gains from its share buyback plan. but overall, most sectors on the broader topix turned lower in the afternoon, attracting the stronger yen. one told me that foreign investors started selling japanese equity assets over growing worries that the stronger yen will depress japan's corporate earnings. i'm mayu yoshida reporting from the tokyo stock exchange. >> thanks. other markets in the asia-pacific region saw volatility. the shapgs high rose more than 1%, closing at 2867 and extended gains to a three-week high. hong kong retreated from two days of gaines, hank sing down by 1%. 18,924 for the close. seoul's kospi shed by about 1.25%. the singapore dipping almost 2% after the oil exports dropped nearly 10%. here's a look at some of the other business stories we're following. >>> annual wage talks in japan have kicked off in the auto industry. union delegates are asking for an average increase of about $26 in monthly base pay. this is the third year in a row for themo make this request. the proposed hike is relatively lo

softbank could become involved in foxconn's bid for sharp.kei reports they could form an alliance with softbank taking up to a 20% stake. could said the ceo buy into sharp directly, as well. foxconn is up against japan's inc. j. shery: looking ahead on the show, nba superstar lebron james is making big bucks during his free time. you will see how he is cashing in. we read tooe say much into the chinese turmoil this year. we will find out why when "trending business returns. "♪ shery: let's recap trade numbers out of china. the surplus for january was wider than expected as over $400 billion. both exports and imports fell a lot farther than we had expected. china's trade data, disappointing. we saw the surplus coming in at 406.2 billion yuan, higher than economists had expected. let's get reaction from richard jeremy, chief economist at the bank of singapore.thank you for joining us. give us your take on today's trade figures. was this what you were expecting yet the richard -- expecting? in termsthey were poor of showing declines in exports a

softbank is moving up for a second day. exuberance,of that the share buyback plan. we talked about woodside. domino's pizza, better than expected results. that is one of the movers to the upside in sydney. the people's bank of china weakening by the most since january 7, so we are seeing some weakness when it comes to growth on short and offshore. this is the offshore yen. weakening by just about 2/10 of 1%. in terms of the picture when it comes to crude, we are seeing a little bit of a recovery, a rebound, if you well. upside,ading to the after plunging a most 4%. barrel.ing under $30 a thank you for that. let's stay with oil because -- it does not eased concerns about the global glut. in our bloomberg news energy editor, aaron clark, who has been trading -- tracking the latest developments. yesterday, the world's two largest producers, saudi arabia and russia, agreed to freeze production levels at what they were in january. this is significant because it is the first time in 16 years that opec and non-opec producers have agreed to potential coordinated action to t

reports of foxconn would hold the controlling stake, but softbank may take as much as 20%., sing came news saying that they need to maintain staff levels. deputies withding stocks after giving them extra response abilities allowing high-level departures. recently promoted, chief operating officer, the technical officer, and the general counsel have been given equity that will vest over four years. afterook on wider rolls chief executives left in january. they say they have received an offer for ge. wants to buy the 2.8 leanne dollars state. analyst saying that would allow it to be private before seeking an ipo in china. daye dimon had to wait one for his bed on jpmorgan to pay off after buying $26 billion worth of stock on thursday. he thought his net worth would rise by 2.2 million after this shares jumped more than 8%. that was their biggest rally in more than four years. that was a look at some of the stories making headlines. i'm haidi lun. hase: indonesia's president had an up-and-down first year in office. he struggled to impose his grip on national politics. he was c

a report says foxconn would hold butntrolling stake, softbank may take as much as 20%. sharp has asked foxconn for commitment to maintain staff levels after the proposed rescue. alibaba is the fourth biggest shareholder in the coupon site groupon. it purchased 33 million shares for a 5.6% stake as of the 31st of december. alibaba was also buying elsewhere, snapping up stakes in jet.com, lyft, and magic leap. ofupon shares have lost 86% their value since going public for years ago. coming up later this hour, a silver lining. why boeing and airbus are keeping their bases in china. coming up up, the roller coaster that is japan. we are going to ask of the economic track shows any sign of smoothing out. you are watching "asia edge." ♪ >>>> these are the stories making headlines around the world. taiwan has ended the search for victims of last week's earthquake. but two of the dead were found in the 17-story golden dragon apartment complex, which the quake.n the developer and architects have been arrested on suspicion of negligent homicide following accusations that corners

japanese wireless customers theirg softbank increase income by 7%.ison, sprint has been hemorrhaging cash over the past year. the u.s. carrier increased its profit forecast as much as $8 billion. virgin australia having a rough time, tumbling by the most in three months despite a return to profit. first-half net income coming in at $32 million from a year ago. paul allen sat down with the chief executive and talked to him about the impact of the cheapness of fuel. >> what is important here is to a third of this improvement was due to fuel. two thirds were driven by the fundamentals of the business. >> some old fuel hedges in the second half >> because fuel hedging winds down. we are expecting to see a similar benefit in the second half. the reason it is a similar benefit and not greater is , these we have to remember back half of last year, oil prices had already come down. , ithe hedging winds down will be compared to the previous, corresponding half. it is like for like. >> so you are confident this >> youis sustainable? never know what is going to

comparison, softbank's biggest rival in japan has announced a $350 buyback earlier this month. stock has been clobbered this year, falling 28% yesterday before the buyback announcement. this puts the company's market valley below the some of the values of its shareholders, which includes sprint, alibaba, super cell, as well as yahoo! japan. one thing that helps the investment is it will not borrow more money to pay for the buyback. it is good news because the company is already $100 billion in debt. instead, it withdrawing its cash holdings as well as asset sales to pay for the acquisition. $5.6 billion loss, a massive overhaul to operation. rating was cut to jump yesterday by moody's. what you think investors are convinced about the strategy update that we have seen this morning? it seems the plan outline -- what we saw this morning, a complete exit from iron ore, coal. they want to get away from consumer. it is quite a significant change of strategy exit. exits have thef outlook for those commodities much worse than other commodities we are talking about. getting out of bulk,

run by softbank or largely by soft bank. that stake alone worth perhaps as much as 5 billion after tax. does it take behind if you sell the core business? no buyer really potentially will want to own that stake and it's not clear that softbank will want anybody else to own it as well. still a lot of this comes back to the 384 million shares in alibaba, they are on the road to pursuing this reverse spin of its core business. that will become a public company. you leave behind the 384 million shares in alibaba in an investment company governed by the 40 act and figure something out for yahoo! japan. we'll see what creates more value and whether or not they get more bids that they feel give them the certainty, certainty that they can say, okay, let's get rid of this business. for her part, marissa mayer seems to be focusing on whatever it is, the third plus year of a turnaround at this company. kelly and bill. >> david, i just wonder if this could be interpreted as anything but a vote of less confidence in marissa mayer, they h

watch closely mitsubishi and .ujitsu softbank seeing a selloff as did the tire maker bridgestone.s the region we watched the pi numbers. and p factory gates inflation moderated. that signals demand is beginning to stabilize. an initial lift to stocks help for the recent stimulus him and the comments by the people's bank of china governor. not enough to get the shanghai composite in positive territory to finish the day. it was fractionally lower. australia, miners led the event. despite a weaker consumer confidence, we did see the top 50 index in wellington posting in advance of about .4%. zeb joining us out of hong kong with what happened overnight. volatility continues to be a big story. the net revenue increased by 60% reaching the highest level since the financial crisis. what is the outlook of the year given the volatility we are seeing? now on thens us phone from frankfurt, good morning. put me through what the volatility has done to your business. good morning, i'm happy to be with you today. we have seen volatility that is a little more accentuated than normal because a num

sprint has lost more than half of its market value since softbank bought a controlling interest. -- sharesbusinesssney are falling. investors focused on flagging profits. cord cutters are disrupting the traditional tv business model. francine: thank you. earlier this morning, i had a of theation with the ceo biggest market cap on the italian stark market. italian stock market. he does not understand what a stock market is in such turmoil. >> the market is crazy. there is no other definition. no correlation with the fundamentals. kind of have this market, they are irrational. they are in a panic selling mode. the end, they will come back to the fundamentals of the situation. francine: we were talking about market turmoil at the beginning of the program. it is correlating with the price of oil. is it true there is no real linkage to the economy? thats: we have forgotten normally lower oil prices is a good thing for most of the wealth. that seems to be completely lost. you see the negatives very clearly in some company's resolves. they are easy to spot. positive impact takes a while to manifest itsel

softbank's closing higher by 6%. its market value has risen as much as $16 billion earlier this week. domino's pizza in australia is coming through with a record first-half profits, sending its share price is higher as well. it has been once again, about this yen resurgence. we have seen the yen move higher come up by 1/2 of 1% against the dollar. back to you. anna: thank you very much. downside risks mount for the chinese economy. aging is looking to show it is up for the challenge. china's largest economic planning bodies are considering fresh stimulus measures. manus: malcom scott has more on this. talk this through some of the new measures. are we channeling 2009? that is the question in terms of the next big stimulus package. lcom: they are doing it in slightly different ways. this infrastructure bond package , they are looking to free up 400 billion yuan. if you translate that to 400 billion for the full year, that would come out at 1.6 trillion yuan. that is double the 800 billion made last year. of course, th

a good example is nissan, shares surging after that ¥400 billion buyback plan, and softbank as well doinglysts are very optimistic about what's going on at the moment. joining us there from tokyo. let's have a look at china's annual national people's congress beginning this friday. it is the next big test of beijing's reform plans. great to see you. we want some clarity out of this meeting, don't we? we don't won a series of vague promises. are we going to get that? as early as last week we saw with the change in the pboc governance that there will be more communication and transparency. that was affirmed over the weekend by the g-20. , clearat investors want direction from chinese authorities regarding policy and more on the national people's congress in terms of the long term thinking. they are looking to see what is the growth target for gdp, which we think will be 6.5% for 2016. rishaad: it is probably the only country in the world that hits its target and knows about it in march. tell me something, what would you particularly like to see out of this. people have talked about as so we