this for takata. quite a lot for takata.cost, offerslly as we hear the from key safety systems later this week? problem as well , after expressing room and did -- glencore has arrived last minute, and even better offer. paul allen joining us with more. rio tinto could take the bigger offer, but they could risk alienating an important customer. paul: yes. bid has been recommended to shareholders. it represents rio tinto repairing his relationship with china. saidin 2010 the iron ore they would they suspected espionage. moree case of glencore, money, $225 million more. the compensation if the deal does not work out, glencore is keen on the affects because they would link up. a lot at stake. forward? t is the way paul: they are going to review the bid. there will be an announcement for the shareholder meeting tuesday. what they recommend could be delayed. you will see time to respond, and there is an expectation this company will match that offer. the investor handles that this happen.xactly what may they may reject the glencor

what happened at takata?ive me a sense of the financial position of kss. were their direct benefits to seeing clearly the implosion at the bottom? joe: well, you know, just to that,ore context, around we see this as a merger of two very strong companies, combining the strengths of both. we are interested in their management talent. they have a very dedicated workforce. declined,usiness has we benefited from some of that. ss is a very strong, growing organization on its own. as we bring these companies together, our goal is to take the best of both. we will be listening to our new takata colleagues, and developing a detailed integration plan. in the end, the result will be a strong global player focused on serving our customers with great delivery, great quality, great technology. this is a very nice complementary fit. it will position the combined company for very strong glue growth -- strong growth. yvonne: do you think you have overpaid for this business? chinese companies tend to have a bit of a premium wh

takata's airbags were first found to be faulty in 200a.ve were used by 13 of the world's biggest carmakers who have all agreed to proceedings which have seen takata file for bankruptcy with courts in both tokyo and the us city of delaware. worldwide, more than 100 million takata airbags — which can rupture with deadly force and spray shrapnel at passengers — have been recalled. the faulty airbags have been linked to at least 17 deaths and more than 100 injuries worldwide. it's all been very expensive for the company. $9 billion is the estimated cost according to japan's nikkei newspaper. the us firm, key safety systems, has bought all of takata's assets — except those relating to the faulty airbags for almost $1.6 billion. let's speak to mariko 0i who is in our asia business hub in singapore. there's just been apress conference — what did the ceo have to say? in addition to what you said, i think what a lot of consumers who drives those cars, the cars with the possibly faulty airbags, their concerns are, what are they going to do if they a

takata has said its factories open.e struggling to do because there was such a huge demand for replacement airbags. they need new inflator's. it was the inflator technology that proved faulty and was causing the problems, so they have emphasized staying alive in the past. is takingfety systems over and running these factories, so they will be left to attend the court hearings and figure out with the bankruptcy administrator who is going to get paid. david: nice to see you. we are also learning that takata will hold their annual shareholder meeting as scheduled. right, looking ahead, the chinese people are richer than ever. we will be live out of beijing and flesh out that story for you. angie: next, the evidence for and against with viktor shvets. this is bloomberg. ♪ david: this is "bloomberg markets: asia." let's get you a quick check of the latest headlines. glencore's last-minute bid leads the group with a dilemma, except less money or upset its biggest customer. glencore offering $225 million more than the proposal

takata takata takata is the listed on july 22.ternational monetary fund has cuts its growth forecasts for the us economy due to uncertainty about president trumps policies. the imf has cut this years expectation from 2.3% to 2.1% and next year's from 2.5% to 2.1%. it compares to the white house's target of 3% growth in the world's biggest economy. the imf said high employment rates made expansion hard and urged the us to maintain it's commitment to free trade. to maintain its commitment to free trade. more than a quarter of the world's population is now using facebook every month according to the social platform's founder mark zuckerberg. more than two billion people have now signed up to use it since he created the company 13 years ago. the huge user numbers have turned it into one of the world's most popular platforms for businesses to advertise on but also led to criticism over posts of illegal and violent material. a hugely ambitious plan to provide broadband links from orbit to every corner of the globe by satellite has begun

. >> japanese airbag maker takata has declared bankruptcy. the company has been fighting off a series of lawsuits and recall costs from its defective airbags . they're to blame for at least 16 deaths and nearly 200 injuries. last february takata pleaded guilty to fraud and agreed to a 1 billion-dollar settlement. the lawyers agreed in suit that takata would have to be sold in order to fund the settlement. >> we are tracking metro and some good and bad news. the good news safetrack is on. the bad new, commuters will now be dealing with some fair hikes and service cuts. as of today, the cost of most metro rail fares will go up by ten to 25 cents. metro bus fairs will increase by a quarter. some bus routes with low ridership w , trains will run less frequently during rush hour and all stations will close at 11:3

takata is notjust any old firm, is it?an you give me the impact this bankruptcy has on the corporate scene, the reputation of people in japan? the company is 84 yea rs old people in japan? the company is 84 years old and it has been around for a long time. it was once known as one of the really good quality japanese product companies. 0ther than those airbags, they also make seat belts and child seats, for example. that is why this american company has decided to buy all the assets not related to airbags. because of the alleged cover—up and because of the way this scandal continued, if you remember they still don't know what caused the airbags to practically blow up, so that has really damaged the company's that has really damaged the compa ny‘s reputation as that has really damaged the company's reputation as well as the reputation of corporate japan, in a way. thank you very much for that update. we can now take a look at other stories making the news. italy's government is bailing out two banks in the venice region. it

this is key safety systems,, the preferred bidderfor takata. this is the end ofa bidderfor takata.g back to 2008 when these records began because of faulty inflator is inside takata made airbags. the recall has grown and grown and grown and, with it, potential liabilities for takata have and, with it, potential liabilities for ta kata have ballooned and, with it, potential liabilities for takata have ballooned to an extraordinary extent, 100 million records, perhaps 8 billion us dollars worth of products that they will have to may, essentially, for free, which is driving the company into bankruptcy. thanks. let's stay in the region where asian stocks were mixed, with shares injapan advancing, the nikkei rose to a one—week closing high. we also saw the yen remain near a two—week low against the dollar after the bank of japan left monetary policy unchanged as expected even as the federal reserve signalled further tightening. and that more hawkish tone meant we saw treasuries fall and gold retreat for a third day. so overall a steady performance in asia on friday — stocks seemingly ta

. >> and takata is said to be the biggest loser of the day.ustomers fear they have to dig deep. >> in the supreme court revises president trump travel ban, saying travels must prove bona fide ties to the u.s. 8:00 is a clock a.m. -- a.m. in the emirates. shery: this is "bloomberg markets: middle east." day.e seeing a mixed some positive sentiment in japan because of the japanese yen. everything else is mixed. are pressing -- pushing toward the upper limits of the dollar-yen. several markets are reopening today, they have a good of catch-up. the philippines, i think it is leading gains right now. the other story, we are not getting -- except for markets in china. down one quarter of 1%. in the previous hour, they said when you look at the valuation, still quite cheap in the asian markets. iron ore top of the list. up 3.4% following industrial profits in china continuing to rise. i think it was 6% year-to-year. shery: you mentioned some markets coming back from holidays, but in the middle east we are still closed because of the holiday marking t

could this be the end for takata?d, the last they traded they were down about 0.6% and as you mentioned those media reports essentially saying the company is preparing to file for bankruptcy, you know, to put this into context, we've had about 100 million takata airbags which can rupture with deadly force, they can spray shrapnel at passengers and they have been recalled globally, faulty airbags have been leaked to at least one dozen deaths and more than 100 injuries worldwide. these reports, some of which come from japan's became newspaper, indicates the company became newspaper, indicates the com pa ny faces became newspaper, indicates the company faces $9 billion. takata hasn't commented but sources close to the case are warning of imminent bankruptcy. the company says it will be in talks with a potential deal with us auto—parts maker key safety systems which may buy some of the assets under a plan but the company is looking bleak. thank you very much. back with more on that and all of the business stories througho

. >>> japanese auto supply company takata filed for bankruptcy this morning. defective air bags spur the largest recall in history, effecting 42 million vehicles in the united states. under certain commissions, air bags would explode, shooting shards of metal and plastic inside the car. explosive defect blamed for 14 deaths. more than 180 injuries. takata based in detroit will buy most of the assets for $1.6 billion. >>> at least 6 people dead and over 30 remain missing after tourist boat sank near columbia. it was packed with revellers celebrating the holiday weekend. 160 passengers on the multi level ferry reportedly over capacity when it began to rock back and forth and started to sink. other boelts and tourists on jet skis rushed to help passengers, pulling them out of the water. search and rescue operations quickly under way with help from colombian air force and firefighters. colombia president even visited td scene. authorities say relief agencies are helping victims and specialized divers searching for missing. u.s. state department said it didn't know

takata issued the largest recall in autom protection. speaks with abc 7 lawyer representing dozens of victims who were injured because of those airbags. jeff goldberg has reaction to the filing. >>, broken ribs broken hands. jeff: when kevin dean mentions some of the injuries suffered by his clients behind the wheel, his anger builds. >> over the last two years, delay and withhold information. jeff: he represents 39 people badly injured by takata airbags as well as the family of three people who were killed. takata's faulty airbag inflator's can explode under certain conditions, sending shrapnel flying. for an estimated 15 deaths and nearly 200 injuries and has led to the recall of tens of millions of vehicles. in u.s.est auto recall history. the recall is being handled by 19 d takata says proceeds from the bank sharply and sale will go towards -- from the bankruptcy and sale will go towards the recall, including the $1 billion settlement with the u.s. government. he expected the bankruptcy filing, but does not like it. >> it is cowardly

you just have to search takata recall. we also want to tell you about a story we're working on for news4 at 6:00. we've learned a change of legislation is taking a toll on some public safety officers and their families. a firefighter from fairfax county reached out to us after learning his wife and stepdaughter will lose their health insurance coverage july 1st. why is this happening? and how this impacts you, the taxpayer? we're working for you, tonight at 6:00. >>> thank you, susan, with all the different parts and plants, it cars are actually built in america. >>> cars.com released the list of most american-made vehicles. we're seeing a bick shake-up from last year. topping the list are two jeep sports-utility vehicles assembled in ohio. last year two cars made by japanese automakers topped that list. it revamped its criteria for better reflect, but now it's based on assembly location, the percentage of parts made domestically and the number of american workers the manufacture are employs. >>> if you are using metro tod

takataing airbag maker may file for bankruptcy within days. it could seek protection in japan first with its u.s. subsidiary filing for chapter 11 afterwards. takata's potentially lethal products are linked to 17 deaths worldwide. the liabilities exceed $90 billion and it is in the process of replacing 100 million airbags around the world. holdings in u.s. treasuries rose for a third straight month in april. it reached the highest in six stabilizes.e yuan the ownership of bonds, notes, and bills, rose to just over $1 trillion. by contrast, the largest non-us that, japan,us reduced its total down $12.4 billion from one month earlier. a split has emerged at the bank of england with almost half the policy committee dissenting at his latest meeting. the monetary policy committee two will the rate at a quarter of 1%. they are facing an uncertain time. real earnings are falling. consumer spending is weakening. there is a fallout from last week's election. >> there is already great speculation about the exact timing of the first rate hike, and this d

moving forward here, takata seeking $1.6 billion in financial aid from key safety systems. they plan to retain mostly all of takata employees globally and will keep all the manufacturing facilities open in japan the two sides in the process of finalizing the agreement, expect that transaction completed by q 1 of next year to make it clear, two sides saying the rehabilitation process will have no bearing on the driver's ability to get the replacement parts without any charge top management saying in the press conference they will step down once the transfer is completed. these bankruptcy filings don't relieve them of liabilities, with more than 60% of the 43 millionaire bags recalled in the u.s. yet to be replaced. the executive publisher of kelly blue book says roughly $2 billion of assets they're unloading won't come close to paying for the recall. >> do the math how long it takes to replace each one, how many there are to replace, it is a multi year process at its best, and realistically, could be twice that long by the time you're through the logistics of contacting owne

. >>> japanese auto supply company takata filed for bankruptcy. under certain conditions the air bags would explode shooting metal and plastic inside the car. the explosive defect has been claimed for 14 deaths and more than 180 injuries. they will buy most of the bankrupt company's assets for 1 point f billion dollars. >>> at least 30 remain missing after a tourist boat sank. about 160 passengers were on the ferry which was reportedly over that pass capacity when it began to rock back and forth. passengers were pulled out of the water. search and rescue got underway with the help of colombia's air force and firefighters. relief agencies are helping the victims and specialized divers were searching for the missing. it did not know if any americans were on the boat. >> a teenage girl in new york is recovering after a harrowing fall from an amusement park ride. she slipped out of a slow moving ride. she was left dangling 25 feet in the air so the crowd gathered there under the girl. one man told her it's okay to let go. so you see the girl fell into

japanese up slightly, despite that takata bankruptcy it was expected. we know the trouble the company had. it was going to be de-listed end of july. still a shock to the market, and some automakers that say they're going to have a hard time making up some of the recall numbers there. >>> to europe, italian banks trading higher on news the italian government is going to wind down regional lenders san paolo takes on good assets and the government assumes the rest could cost 17 billion you're owes, pushing italian banks higher european markets higher boy 0.5 or 6%. transturning in 1% we had the german business sentiment data coming out, that was the headline number, 115.1 little stronger than expected for german business sentiment. >> awhile since u.s. markets as strong as european markets today. >> european is leading nicely in the market last we are, european flat, the ftse down a half percent they have been plateauing on the u.s. side. >>> a look at broader markets. i mentioned oil prices you can see wti crude up about a percent. above the 43 handle. so

and after weeks of rumours takata has now filed for bankruptcy. found to be faulty in 200a. they've were used by 13 of the world's biggest carmakers, who have all agreed to proceedings which have seen takata file for bankruptcy with courts in both tokyo and the us city of delaware. worldwide, more than 100 million takata airbags — which can rupture with deadly force and spray shrapnel at passengers — have been recalled. the faulty airbags have been linked to at least 17 deaths and more than 100 injuries worldwide. it's all been very expensive for the company. $9 billion is the estimated cost, according to japan's nikkei newspaper. the us firm, key safety systems, has bought all of takata's assets except those relating to the faulty airbags for almost $1.6 billion. we'll have all the latest in about 20 minutes time. another story we're keeping across is the latest bank bailout in italy. it's the third time the government has had to get involved with the country's troubled lenders in the last year. this time, banca popolare di vicenza and veneto ban

takata is dealing with a lot of issues in terms of recalls, over those takata airbags, this is not likeou said a total surprise. takata says that, again, they're dealing with these faulty airbag insulators, linked to at least 16 deaths. the takata says that filing for bankruptcy is the only way it can keep on supplying replacement inflaters, more than dozen automakers, jim, jan? >> i'm surprised has take then long to be honest with you. i thought would comma heck of a lot faster. jill, i understanded farmer bro as he calls himself, goes to court today. what's this all about? >> so this is actually related to security and wire fraud trial. he's been described as the most late dollars man in america after hiking the price of life saving hiv drugs by about 5000%. this trial, as you know, separate, allegations he defrauded investors in his hedge funds. jim, jan? >> karma,. >> took the words out of my mouth. >> gets you every time. we'll check in with you in the next hour. coming up, another check on weather and traffic. >> plus we'll tell but the special recognition given to local man who w

company officials say most of takata's assets will be sold to key safety systems for $1.6 billion.a could not withstand hefty lawsuit settlements and penalties for making faulty air bag inflaters. they can explode with too much force and hurl shrapnel into people. at least 16 killed worldwide. >>> a spacex rocket successfully lifted off from california today. the rocket is carrying ten more satellites for a company that has a goal to eliminate black zones where commercial airplanes cannot be tracked. by providing global real-time surveillance of all flights. meaning missing planes like the malaysian airlines flight could be a thing of the past. >>> action news, jeff skversky has sports, including highlights from the matchup against arizona. that and much more when action news comes right back. ♪ ork. now with our new fios gigabit connection, you get amazing download speeds up to 940 megs, 20 times faster than most people have. and the price is amazing too for $79.99 a month online for the first year you'll get our fastest triple play with hbo included for 2 years. leave cable's slo

sharesue of takata happened in one day.he market so surprised by the thought of takata filing for bankruptcy? steve: i am a little surprised that the market is surprised. they have been talking about this for a while. liability,th all the the $1 billion liability reported, there is concern about the ongoing entity of takata. it is not a surprise if you look at what they reported in the last -- at the end of last fiscal year, which ended in march. they were in a net debt position. their debt has gone below investment grade. because of that, it is hard for them to raise any funds to support those liabilities, to pay for those liabilities. yvonne: some were saying this bankruptcy would pave the way for takata's sale, overall. what does that mean for takata? are they off the hook when it comes to replacing airbags? steve: absolutely not. this is a negative for investors. allou step back and look at the millions of airbags that still need to be replaced, it allows them to focus on that. it puts a lot of the management team -- it

. >>> takata airbag maker file for bankruptcy in japan and is expected to do the same in the u.s.oday. takata said they are overwhelmed by the lawsuits in the cause related to that huge recall of the deflected airbag inflators. 16 died in 180 were injured when the takata airbags inflated with too much force and the assets will be sold to the key safety systems in michigan. takata said that was the only way they could deal with the legal penalties and the lawsuit verdicts. >>> you may be asked to take the books off of your carry-on bag when you fly, tsa agents in california along with missouri have been asking people to take the books out of the carry-on bag for a few months now. the wall street journal said that the carry-ons are getting so stuffed that they have a hard time to see what is in the bags in the expect that policy will expand nationwide later this year. >>> an important recall about food for little children. the california-based company, over hill farms, is recalling over 50,000 pounds of chicken products that could contain bones. they were made on august 30 in 2016,

. >> takata is filing for bankruptcy. they never recovered from a deadly air bag scandal.shooting spl shrapnel into people. will, first of all, thakata was slow to address this. what does bankruptcy look like for this company? >> well, what takata is doing is selling most of their business operation to their rival in the united states based in detroit for just over $1.5 billion. the fine that takata owes the united states government for $1 billion for wire fraud, because they were deliberately ma nip nating informati manipulating information. the main number one priority is to pay that fine to the u.s. then the legal lawsuits, they are lining up for their share as well. hard it imagine any scenario in which many of the people seeking damages from takata will be reimbursed. honda suing the company. bmw. toyota. what this deal does is it allows that takata to continue operations. 60,000 employees around the world. majority of them will. and they will make the inflators which are still in high demand. over 100 million units need to be replace end only about a third have been

takata announced yesterday.. it's filing for bankruptcy. kevin dean represents people injured by the airbags, plus the families of three people who were killed. he says he expected the bankruptcy filing, but he doesn't like it. the exploding largest auto recall in history. takata's chairman apologized yesterday for the troubles the company has caused. meanwhile, an estimated 65-percent of vehicles impacted by the recall still have not been fixed. bill cosbys lawyers will be back in court today for a new lawsuit against the comedian. - this time in california. judy huth accuses cosby of forcing her to perform a sex act at the playboy mansion 40 years ago. she was 15 at the time. a trial date could be set today. the hearing comes less than two weeks after a pennsylvania jury deadlocked on criminal charges in another case. a hot summer doesn't just mean cooling off outside... with the heat comes a potential danger: cooling off outside... with the heat comes a potential danger: glass patio tables shattering. consumer reporter john matarese show

takata admitted to manipulating key air bag installation. what does it mean for those killed by the air bag, like this high school senior or injured like corey who lost the use of his right eye. >> a millimeter from my brain. i could be six feet under the ground. >> for next few months, they will settle the dispute in the courts and there won't be enough money to compensate everyone. although money, they recommitted the product to the u.s. government to pay $125 million to compensation for the victims. for the u.s. drivers waiting for the air bag to be replace, they will likely pick up the anticipated $5 billion tab. so that is the rub. in last hour i spoke to an americans injured. he said this will slow the process and not diminish it. what will change is the automobile manufacturers have to pay out the claims without much financial help from takata. back to you. alison: that is stunning. thank you. jonathan: still the issue about what to do about the bags. the "7 on your side" team has been on top of the story since it broke. recognized wi

takata not off the hook after this sale.debate covering the cost of this $5 billion, some of the automotive experts. $1.6 billion,e in so who will cover the shortfall? betty: we will be following that story is on. -- that story, yvonne. and we have someone joining us, the managing director. a lot of use what this means -- , for thet this means company. they say the company is too big to sell in china. the government has a vested interest to make sure the company continues. they are not making as many offshore sales as before, they will continue business as usual. morgan's we have j.p. asset management strategist. we will have more on what oil will mean for the fed cycle of rate hiking and the asian markets heading this week. that ♪ a flatres pointing to start in asia, global stocks near all-time highs. takata will file bankruptcy in japan, then the united states. toshiba hopes to reach agreement on its chip sale by tuesday.

the troubled japanese auto parts company ta kata has the troubled japanese auto parts company takatahas filed for bankruptcy protection in the us claiming $10 billion in liabilities. trading in shares have been suspended after reports it would make a suspended after reports it would makea similar suspended after reports it would make a similar application injapan. the defective airbag maker ‘s takata have been linked to 17 deaths in several countries and led to the automobile industry's biggest recall and has cost than $9 billion. thailand's central bank floated the thailand's central bank floated the thai bard. it led to a dip in the currency and triggered a wave of financial and economic collapses around the region. all this week, we are looking at regional spots most affected by the financial crisis and we begin in thailand where it all started. jonathan head met with two highflying businesses who met —— who lost everything —— head. defining success these days, how good his grilled chicken tastes. his restau ra nt good his grilled chicken tastes. his restaurant serving classic nor

. >>> takata filed for bankrupt last night. after a worldwide recall. landon dowdy here with that story. good morning, landon. >> good morning. airbag maker takata has filed for bankruptcy. largest filing ever for japanese manufacturer. company says it will be bought by u.s. auto makers key safety system for $1.6 billion. the takata still faces tens of billions of dollars in costs and liability resulting from worldwide recall of defective airbags linked to more than a dozen deaths. 36% of airbags recalled in the u.s. have been replaced. the company will continue to make and replace parts as well as offer compensation to fix them. >>> we could seen be watching shows on facebook. right. tell us about that. >> that's right. if it's on facebook, it has it all. facebook may g going hollywood. social network is in talks with major studios to produce a tv quality scripted shows. facebook is reportedly aiming to launch original programming by late summer and willing to spend as much $3 million per episode. back to you. >> see what those look like. >>> meantime

takata was brought down by the huge cost of its exploding airbag crisis.bc7's jeff goldberg spoke with the lawyer representing dozens of victims injured by those airbags. developing now.. wildfires are wildfires are raging in the western u.s. at least 21 large fires are burning in seven states. in arizona, more than 15-hundred people have been forced to evacuate. in utah, 11-hundred firefighters are on hand, bringing in planes and helicopters to battle the flames. firefighters are dealing with walls of flames, 100 feet high! the sizzling heat and strong winds are making their job difficult. after crashing off a cliff in essex county, new jersey. police say he lost control of his bike at a county park in cedar grove yesterday. he ended up tumbling 20 feet down. rescue crews rappelled down the cliff. they found the 49-year-old man dead at the scene. police say there were no signs warning about the steep drop. and they say the crash appears to be completely accidental. the creator and star of the musical, "hamilton" is kicking off a contest. lin-manuel mirand

more trouble for takata. shares of the japanese company plummeted after a report from a japanese newspaper saying the company planned to file for bankruptcy protection friday or monday next week takata is facing billions in liabilities to replace more than 140 million air bags you've been following this story, i'm following this story. i'm aghast it's taken so long to get to this point. every time you hear about a recall, it's been a tragic expanding story of woe, hasn't it >> yeah. lawyers in the u.s., steve, are saying only 60% of the air bags that need to be recalled in the u.s. have actually been recalled there's still so much more to be done takata shares down almost 55%. they've declined every day this week by the daily limit. since friday, takata lost more than 75% of its value. let's look at the wall, the three-month chart where you can see this in context. you can see this in the past three months and how shares have gone down. down the deep end the last couple of days this is the biggest recall of a

takata going into bankruptcy could effectively so that down. are needed? that is one of the problems, 100 million airbags recalled worldwide, there has been a struggle by takata to replace those quickly enough, and whether companies bring in alternative suppliers... i think they will have to look at that going forward to speed up the resolution of this problem. do many customers act on recall notices or are they ignored? it varies. in some cases they do and in other cases they are unlikely to do so, like with rock slide in. when it isa do so, like with rock slide in. when it is a safety issue and they are notified they are much more likely to do so. we have very accurate records of who owns what vehicles and a very good track record on contacting drivers. we have seen an estimate of how much this cost, does that include the fines levied against the company by us regulators? we do not know. the forecast... we do not know how high the liabilities will go. the 7 billion include some of the finds so far but takata has agreed to pay the car—maker so

their maker, the japanese company takata has been recalling faulty products. keep up with liabilities, the ceo said declaring bankruptcy was the only way for the manufacturer to ensure that the recalls continue. safety parts of for the automobile industry or failure to maintain a safe supply would have a major impact. >> in declaring bankruptcy to cut it has cleared the way to be bought. it was interested because of its other businesses including seat else and steering wheel manufacturing. forill pay one $.6 billion the company. one billion of which will cover a u.s. find for concealing the airbags problem. to.utomakers have been most of the money will go to reimbursing them for replacing the faulty parts. shuttering the 84-year-old company had become inevitable. >> given the severe business environment i think it's unavoidable for the company to decide to file for bankruptcy. >> tokyo's stock exchange the listed takata. the stock plummeted amid rumors the manufacturer was going belly up. in italy the government is bailing out regional banks. the decision come

more details on the takata bankruptcy. >> we're tracking the cool down. there's weather to talk about and fire danger to be concerned with after the break. >>> that cat da corporation filed for bankruptcy -- takata corporation filed for bankruptcy in tokyo and u.s. >> this comes from recalls and number of lawsuits related to production of faulty air bag inflators linked to the death of 16 people. tracy has more. >> reporter: the japanese maker of faulty air bags files for bankruptcy protection in tokyo and the u.s. takata corporation hit with recall and legal costs and said the move allows it to continue providing replacements for the inflators responsible for more than a dozen deaths. >> as a maker of safety parts for the able century, our failure to maintain a stable splay will have a major impact across the injuries. >> reporter: inflators can deploy forcefully causing shrapnel to deploy. 100 million of the inflators have been recalled around the world including 69 million here u.s. >> i apologize from my heart for damaging those involved and the credi

most of the assets of takata will be sold to the key safety systems out of michigan.takata said bankruptcy was the only way they could do with the legal penalties and the verdicts from the lawsuits. >>> a very important recall on food for little children. the california based company, over hill farms, recalling over 50,000 pounds of chicken products that could contain bones. the frozen chicken bites were made on august 30, 2016, february 1 and february 9 of this year and april 25. check the freezer box for the three ounce boxes of the yummy spoonfuls chicken bites . the boxes are also included in the recall at 30 pounds. no injuries have been reported but if you have the products either throw them away or take them back to the store where you purchased them. >>> the bowl from ikea may have the ability to set things on fire. look at this. the man in sweden said that stems from his grapes caught fire in the bowl while sitting in the sun. to demonstrate what happened he made a video showing the bowl as he set fired -- it set fire to the piece of paper. it is the ikea met

with the acquisition, takata gets about 1.6 billion u.s.ollars, but from what i can see, they have the deaths of $10 billion, which would be mostly bonds, which means that -- gives you the 20% or so, and leaves nothing for the carmakers. talking about at least 12 billion u.s. dollars. i actually think it's more that carmakers will have to share. it's not shared evenly of course, it is shared accord -- according to how many they actually board. for them unfortunately, they are number one. others that will have to carry cost. i don't think insurance will want to cover that. they will have to do that over a few years. it's just very -- yes. please yes. haidi: that's what i was going to ask you about, is automakers going to have to bear this burden. of course you are saying it's not just honda -- also bmw, luxury names. fatal, buto be industry wise, it's comes at a difficult time come as we are seeing the peak of demand, a bit. how much damage to you see to the bottom line for these carmakers? between half a billion to several billion. the enti

in japan and china, there could be synergies for takata and key safety systems.en bigger than takata, and china, does not have a lot of japanese carmakers as clients, so the two combining together number two world market share in terms of safety equipment, a big boost for kss foralso means big potential takata in terms of markets like china. rishaad: thank you very much indeed for that. but we have got coming up, the winds of change, china's shift to renewable energy blowing cold out of the picture. this is bloomberg. ♪ haidi: this is "bloomberg markets: asia." i am haidi lun in sydney. rishaad: i am rishaad salamat in hong kong. and no one is expecting any surprise from the japanese central bank today. another central bank has thrown a curve ball, boe members calling for a hike on the monetary policy committee. one professor who advises the committee members is perhaps they should wait longer before taking action. >> they should probably be sitting on the hands, as the majority were. the reality is the fall and the exchange rate has been driven by brexit, the ec

takata is filing for bankruptcy.hat it means for your airbags and the plan to replace them. >>> breaking news right now in first 4 traffic. we're talking about a massive problem in northern virginia. take a look here. inner loop at van dorn street, we're shut down. a huge backup. this is a reconstruction situation. this means if you head this way in the next couple of hours, it will affect you. we'll talk more about this coming up. sheena? >> weatherwise, melissa, the commute is not bad in that way. 70 degrees in the district right you can roll the windows down and it's going to be nice this afternoon. we'll talk about hotter >>> breaking news in northern virginia. inner loop at van dorn street. we're shut down. this is a two-mile backup. it's growing quickly. it's growing to two miles in the past 25 minutes. take a look at this closure. duke street, franconia road. either of those are alternates. they're going to be quite busy this morning. this is going to be shut down for some time. >>> right now on ne"news4 today

takata has been working to get financial backing from the u.s.uto parts maker key safety systems. >>> nike is cutting 1,400 jobs. the company says it's going to focus on its hottest selling sneakers and cut the number of styles it sells. nike plans to sell more shoes directly to customers online. sales of running performance sneakers were flat and basketball-performance sneakers has dropped. >>> users are mocking changes on the messaging service, twitter. twitter says its new design is about simplicity and makes it faster and easier to use. one change, user's profile images have gone from square shape to round. >>> and amazon founder jeff bezos has turned to twitter for ideas on how to donate to charitable causes. bezos is worth more than $76 billion. in a twitter post, he said, if you have ideas, just reply to this tweet with the idea, and if you think this idea is wrong, would love to hear that too. anne-marie. >> if you want to hear ideas and opinions, twitter is the place to go. i'm sure he got a whole lot more than he bargained for. >> absol

last year, takata was ordered to pay more than 1 billion dollars in damages and penalties. "transformers: the last knight" battles its way to the top of the weekend box office. the science fiction action film is the fifth "transformers" movie. one.. this was the lowest debut of any movie in the "transformers" franchise. "cars three" drove its way into second place.. along with "wonder woman." those two movies tied for second place. they each took in 25-point-two million dollars. there is much more coming up on good morning washington. sam sweeney.. what are you working on? discovery at a burned out dc apartment. a body found - where officials say the flames started. the new developments in the investigation - coming up. plus - a big day in washington. the supreme court wrapping up it's term - as the health care battle ramps up. what both could mean for the president's legacy. good morning washington. toss to eileen - beautiful start to the work week; low humidity - slightly below average highs through wednesday - 90s return thursday - hot and humid f

. >>> takata will file for bankruptcy in japan on monday.he company faces billions in liabilities stemming from the biggest recall in automotive history. shares traded for the first time in nearly a week today and lost about half of their value. the air bagmaker will seek a bridge loan. takata's filing would reportedly coinside with a deal for financial support from u.s. auto parts maker key safety systems which is expected to buy some of takata's assets. >>> cable operator altice usa racing 1.9 billion in its offering last night. shares priced at $30 each, near the top of the expected range. it's the second largest ipo this year altice bought cable vision and sudden link communications shares will trade today at the new york stock exchange under ticker atus. >>> investors will get a fresh look at the labor market weekly jobless claims at 8:30 a.m. as for earnings, barnes and noble and accenture. bed bath & beyond after the close. in europe, eu leaders are gathers in brussels. theresa may will attend part of it as usual, as is the case in re

takata has been overwhelmed by billions of dollars in lawsuits and fines, at least 16 people died because of faulty inflators. >>> he was responsible for days of panic and confusion in prince george's and montgomery counties. today he is going to court. he's charged with his wife's murder in the parking lot of

. >> and a big development with takata. >> really amazing. the air bag company at the center of history's largest recall is filing for bankruptcy. today we're getting more information about what it all means. let's start with your car. will it be repaired? takata says it will stay afloat and will manufacture all the parts needed to finish the recall. takata owes somewhere between 10 and $50 billion and the company says that's simply too much for it to survive. >>> americans buy most of their tv programming in bundles. but a new study shows that many don't want to do that anymore. cable and satellite providers have long offered packages of channels. but now according to a new study by tivo, americans say they want to buy their tv a la carte, that is one channel at a time. consumers are buying tv programming for hulu, netflix and other services and want their choices expanded. those with cable and satellite are growing, and cites two reasons. the high cost of pay tv. the preference to binge watch the programs they like. >>> when going through t

takata will sell its manufacturing operations.s for just over $1.5 billion to a rival based in detroit in the united states. this will allow in theory most of takata's employees to continue working. still have jobs. there are 60 thousand people working for takata in 23 countries. it'll keep takata's factories open to continue to produce the replacement air bag inflators. there is a huge demand, possibly up to a hundred million of these units need to be replaced around the world. only about a third of them have been relaysed so for. they need to continue producing these inflators. what it does do it it doesn't help auto makers who had to take huge hits as a result of this. honda, toyota, bmw, just to name a few were are suing takata for billions of dollars in losses. this bankruptcy deal makes it unlikely they will get the bulk of that money back. but the key yad idea is to get air bags replaced. there are tens of millions of cars on the road at risk here. >> will joining us from tokyo where it is nearly 4:00 in the afternoon. than

takata file bankruptcy. what is next. >>> and it may be summer on the calendar, but people still getting skiing in. the reason you can spend the fourth of july on the slopes as long as you dress accordingly of course. >>> a check of the markets this morning, some split results so far the nasdaq down about 12 appointments in early trading, but the s&p and dow jones have are both risen. dow jones is 21,438. >>> meanwhile takata filed for bankruptcy protection yesterday. the company manufacturing air bags that were blamed for killing at least 14 people around the world. matt bradley reports. >> reporter: it's the end of a giant. one of the world's largest auto parts manufacturers filed for chapter 11 bankruptcy yesterday that book ends a decade long scandal in which the company recalled some 11 millionaire bags that were thought to have caused more than 14 deaths and hundreds of injuries. that was the largest auto parts recall in history. and yesterday's bankruptcy filing is the largest ever bankruptcy of a jap

race to get people off the boat and out of the water. 7 on your side with continuing coverage of the takata airbag situation. the airbag maker will file for bankruptcy tomorrow. solds are expected to be to a rival company for nearly $2 billion. takata as been unable to withstand the fallout from lawsuits and penalties because of faulty airbag inflator's which can explode, sending shrapnel into passengers. at least 16 people have died worldwide because of that issue. is ins prime minister d.c. for his first meeting with president trump. a crowd of well-wishers greeted him as he arrived at joint base sanders. the president will base andrews. the president will host him tomorrow. later this week, the white house will welcome the new prime minister of south korea. an officer apparently kicks this wild boar. the wild boar did not like that much, sending it into a frenzy. the officer and an elderly bike rider were injured. authorities eventually captured the animal. and there they go, spacex successfully launching two 10kets this weekend, sending next gen satellites into orbit for iridium-based c

. >>> takata is filing for bankruptcy protection. takata says its overwhelmed by lawsuits and the costs related to the recall of defective airbag inflate stores. at least 16 people died. the company says the bankruptcy move will allow it to assist automakers with the recall costs. >>> it has been cooler today. these are some highs, kernel down. cooler from last week. last week was a heat wave of huge proportion in terms of the length, during race, it's strength. i mean it was hot for five, six days. not just two or three. 82 in fairfield. 81 in antioch, so the numbers are down obviously. no heat advisories today, and a mild weather pattern today and tomorrow, and wednesday. but then things turn around. it will warm up as we move towards. end of the week. >> you can see the fog on the live camera. and look at that interesting light on that, frame, you see that? wasn't that weird, the lighting on that? >> it is. >> this just looks -- >> it looks orange. >> and it looks huge. i never have seen that. i've watching it for 30 years. there'

. >>> air bag maker takata filed for ♪ having a baby. caring for your parents.ing you have a condition. these are moments when people realize that where you get your medicine matters. and they look to us. cvs pharmacy. for advice. and ways to save money. plus, get up to fifty extrabucks each year just for filling prescriptions. switching is easy. we're here for you. join us. at cvs pharmacy. ♪ >> after a global air bag recall takata filed for bankruptcy. the company was brought down by defective air bag inflaters that exploded during the crash. it is connected to 16 dents and 180 injuries -- deaths and 180 injuries. most of the assets will be sold to a rival company in michigan. >>> there are growing privacy concerns over a feature on snap chat critics are saying it makes it easier to stalk user. the snap map pinpoints where users are in the neighborhood and includes public snaps what is happening at the user's favorite venue. the company said location sharing is turn off by default and user must change their setting to activate it. >>> "action news" team out wo