toshiba shares down 1.7%. mitsubishi motors shares rose at one stage for the first time in five sessions after news of the faked fuel efficiency tests surfaced, but stocks turned lower in afternoon trading ending down over 9%. on currencies the dollar fell below 111 yen during tokyo trading hours. investors seemed hesitant to make any big bets until they hear policy decisions from the federal reserve and the b.o.j. on thursday. giang nguyen reporting from the tokyo stock exchange. >>> thanks very much for that report. the cautious mood carried over to other parts of the asia-pacific region. let's look at china. shanghai composite up .6% ending up at 2,964. trading volume remained thin. kospi index rose .25%, 2,019 despite weak economic growth data. the january to march gdp expanded slightly lower than market expectations. indonesia lower. sydney's declining by .3%. here is a look at some of the other business stories we're looking at. >>> saudi arabia has announced it's going to reduce reliance on oil profits

. >> reporter: but tom francis knew better so he contact us and we explained the law to toshiba. after some back and forth, the company offered him $93 a fraction of the purchase price but a consumer lawyer says that's not good enough. >> the manufacturer doesn't provide those parts, then you are entitled to a replacement. >> reporter: toshiba now refuses to comment. so tom's considering taking toshiba to small claims court and in the meantime, he is stuck listening to his tv. bottom line, it does help to know the law when consumers bring it up to manufacturers, they have been known to offer cash, gift cards, replacements and if they refuse to comply with the law, well, of course, you can always take them to small claims court. julie watts, kpix 5. >>> tech meets science. today experts from tesla and microsoft had a challenge for some bay area kids. [ chuckling ] kpix 5's kiet do shows us their mission. >> reporter: put away that papier-mache' volcano because this is not your grandpa's science fair. at sandpiper elementary school in redwood city this year's theme is save our plan

toshiba welcomed about 900 new hires with the ceremony near tokyo. some will be working at subsidiaries within the group. toshiba is restructuring the staff after a major bookkeeping scandal surfaced last year. the president first apologized to the new hires for causing them concern and asked for their understanding. >> we have to have higher consciousness and run our company in good faith. we must regain confidence from society and our stakeholders. i hope our hearts will become as one and you do your best. >> one new employee said she is determined to turn them around. they slashed 13,800 jobs and will impose a hiring freeze in april 2017. a bank of japan survey shows sentiment has worsened. the quarterly survey covers more than 10,000 firms. the indeces represent the difference that say business is good and those who see it as bad. the sentiment was plus 6, down six points from the december survey. the results show manufacturers are increasingly concerned about the slow down in emerging economies and the higher yen. the index for large non-manufac

curtis wright has a westinghouse owned by t to toshiba. and assuming there are no more fukushimas, that would be an interesting tale to a company like that. that's a real growth rate on a global economy. yra mentioned the 17 trillion global economy so you need that engine. gary: the emerging markets. do you have the china market? >> we are sort of neutral on china. i agree you have to do the full math on the numbers. they are also diversifying their economy. aside from just moving less -- away from investment and toward consumption. they are starting to make significant acquisitions outside of china, particularly in the u.s. that's a benefit to many u.s. companies, too. we are in a better competitive situation. the total land to cost gap has narrowed. and the manufacturing competitiveness. aside from the way politicians focus on that, i think that shift is coming back to the benefit of the u.s. because they had to raise wages. gary: the emerging market was the big surprise of the first quarter with the bounceback economics. should investor

curtis wright has a westinghouse owned by t to toshiba. and assuming there are no more fukushimas, that would be an interesting tale to a company like that. that's a real growth rate on a global economy. yra mentioned the 17 trillion global economy so you need that engine. gary: the emerging markets. do you have the china market? >> we are sort of neutral on china. i agree you have to do the full math on the numbers. they are also diversifying their economy. aside from just moving less -- away from investment and toward consumption. they are starting to make significant acquisitions outside of china, particularly in the u.s. that's a benefit to many u.s. companies, too. we are in a better competitive situation. the total land to cost gap has narrowed. and the manufacturing competitiveness. aside from the way politicians focus on that, i think that shift is coming back to the benefit of the u.s. because they had to raise wages. gary: the emerging market was the big surprise of the first quarter with the bounceback economics. should investor

curtis wright has a westinghouse owned by t to toshiba. and assuming there are no more fukushimas, that would be an interesting tale to a company like that. that's a real growth rate on a global economy. yra mentioned the 17 trillion global economy so you need that engine. gary: the emerging markets. do you have the china market? >> we are sort of neutral on china. i agree you have to do the full math on the numbers. they are also diversifying their economy. aside from just moving less -- away from investment and toward consumption. they are starting to make significant acquisitions outside of china, particularly in the u.s. that's a benefit to many u.s. companies, too. we are in a better competitive situation. the total land to cost gap has narrowed. and the manufacturing competitiveness. aside from the way politicians focus on that, i think that shift is coming back to the benefit of the u.s. because they had to raise wages. gary: the emerging market was the big surprise of the first quarter with the bounceback economics. should investor

curtis wright has a westinghouse owned by t to toshiba. and assuming there are no more fukushimas, that would be an interesting tale to a company like that. that's a real growth rate on a global economy. yra mentioned the 17 trillion global economy so you need that engine. gary: the emerging markets. do you have the china market? >> we are sort of neutral on china. i agree you have to do the full math on the numbers. they are also diversifying their economy. aside from just moving less -- away from investment and toward consumption. they are starting to make significant acquisitions outside of china, particularly in the u.s. that's a benefit to many u.s. companies, too. we are in a better competitive situation. the total land to cost gap has narrowed. and the manufacturing competitiveness. aside from the way politicians focus on that, i think that shift is coming back to the benefit of the u.s. because they had to raise wages. gary: the emerging market was the big surprise of the first quarter with the bounceback economics. should investor

toshiba is scheduled to hold a news conference.mes after the nikkei newspaper reported the company may have been using the wrong fuel efficiency tests all the way back to the 1990's. stock is now trading down some 10%. that is your bloomberg's miss flash. -- business flash. anna: let us talk about brexit. it would hit the pound and investment in the u.k. according to the bundesbank board member. he spoke to mark barton. there will be a consequence on the foreign exchange rate very likely and a consequence of economic development and investment in the united kingdom. the economic challenge for the united kingdom should it happen i am expecting to be rather considerable. both in the short, medium, and long run. anna: the views their of the bundesbank member. let us talk about brexit. what are you assuming? we have a bloomberg cop as it of what the polling is tell us of what is -- we have a bloomberg composite of what the polling is telling us about what will happen. we have president obama's visit also. it looks like that is coming t

toshiba is providing the turbines. a year from now it will fire up.is to make it such that no matter what the price of that will not be a factor because we will be of a 100% of the carbon. we are at 59% efficient. if we capture all the carbon dioxide. somewhere roughly between 800 and $1200 per unit. we will cost the same. ambulance to cost we capture 100% of the carbon and we have there's a huge market for something called enhanced oil recovery. their 450 miles of pipeline all around this country. carbon dioxide is a pain center for oil. it gets more oil out of it. at the same time we can put some fuels ando the ground other beneficial chemicals. we think for instance in the united states if we are talking with some of the biggest power companies in the united states they are very interested in this technology because they realize the possibility that this becomes the best available control technology. any new technology will have to beat us. we are also focusing on china. and india. they are focused on building coal plants as far as the eye can see.

toshiba takes a 2.3 write down as they try to recover from a accounting scandal that's forced it to selleveral assets. >> stocks to buy. the federal reserve hawks? and another hedge fund shutting its doors. and five states holding primes today. it is a super tuesday of sorts. >> i love something something. cathy's gotten used to the smell of lingering garbage... ...in her kitchen yup, she's gone noseblind. she thinks it smells fine, but her guests smell this. ding, flies, meow febreze air effects heavy duty has up to... ...two times the odor-eliminating power to... ...remove odors you've done noseblind to [inhales] mmm. use febreze air effects, till it's fresh and try febreze small spaces... ...to continuously eliminate up to two times the odors... ...for 30 days febreze small spaces and air effects, two more ways... [inhale + exhale mnemonic] to breathe happy. ♪ "dinner!" "may i be excused?" get the new xfinity tv app and for the first time ever stream live tv, watch on demand, and download your dvr shows anywhere. >>> and the nasdaq just expected to open slightly positive. let's have a

also shares in toshiba as well. after much refusal they also booked an impairment charge. shanghai comp up. hang seng up as well. losses for some other stuff. and indeed -- we're also tracking losses on the asx 200. and in australia we've also had a major defense announcement as well. japan losing out to france in the race to win the billion u.s. contract to build australia's next fleet of 12 submarines. we saw shares in japan's major defense contractors. mitsubishi heavies and kawasaki heavy industries both down. >> and tisson group shares driving. the the project was awarded to the french firm. australia's prime minister called the decision a momentous national endeavor. >>> elsewhere bp shares catching a bit after first quarter underlying replacement cost profit. a huge beat on analyst expectations for a loss of $130 million. the company ceo dudley expects global oil supply and demand to balance by --. stan chart issued an update day. after some stuff. what can we expect? paul, good morning. great to have you on the show. what are you expecting here? >> you may all at t

toshiba know this order, he dialed united states intelligence activities from its the charter of the intelligence community in that order lays out many of the functions, duties and responsibilities of the intelligence community who is charged with performing the functions of the various intelligence disciplines. general hayden mention human intelligence. larger with cia in the lead. military intelligence and capabilities, defense intelligence agencies. so you find those in want to triple three. want to triple three also the civil liberties protections here so much about. in terms of bans on assassination, bans on electronic surveillance done domestically. that is not pursuant to statute. we can go on in opposite order a very fundamental order. updated in 2008 there are many, many, many afghans can we trace that back to 1981 to amended. very hard to do even in 2008. really a number of decisions going to the president. this is kind of a bit of an obscure order but it does lay out the funding of the foundation of the community. i think we can continue with 12333 the way it is now. i thi

soviets were also aided by a few companies, toshiba, who sold the submarine technology when they knewhey should not. most importantly, the soviets unleashed a major diplomatic offensive calling for arms control agreements, which would have the actual effect of constraining only the u.s. navy, and leveraging and stability to come to the assistance of exposed allies like norway, greece, turkey, south korea, and japan, as well as potentially friendly influences like china. fortunately, in our view, none of this works. the u.s. government hung tough against naval arms controls measures, which they clearly understood what only hamper one side. allied governments and the navy's working increasingly closely with the united states and its navy, as did the u.s. marine corps, coast guard, and air force. then what happened? you know what happened. then came the demise of the soviet union itself. after the end of their colossal naval building program and operations. the u.s. navy developed a new concept, called from the sea, for dealing with the immediate, post-cold war world. so it has evolved n

. >> there is so much competition. ,hey're phasing toshiba, sony and a lot of chinese companies.reans. competitor,s a big so they will not sit still at all. being able to turn this around will be tough. rishaad: he has talked about this company respecting its independence, but at the end of the day -- >> he owns a 66% of it now. that is definitely a problem. we know he will want to change executives, shake up the management, but he also has handcuffs on him. the deal stipulated he can't sell parts off or make major changes. he can't cut staff, so he is handcuffed in many ways. he can change out the management ,tself, perhaps the structure getting people more profit oriented. he has problems he will have to face, and management will be one of them. rishaad: thank you for that. looking ahead, a massive information leak in panama could have major consequences for some of the prominent people around the world. will look at that 25 minutes now. next, a rate cut in australia? do stay with us. ♪ rishaad: i look at asia pacific equities -- a look at asia pacific equities, newfound cautio

this is supported by the labor unions, by the manufacturers, my toshiba drivers, by everybody. data supports this. we have the ability to say this is a national security issue. that this impacts national security and that if you control the ocean you control the world. that's a fact that if you control the ocean you control the world. that china needs to keep its toe in the ocean. this replaces the current unworkable regulatory patchwork with one set of scientifically based environmental protected and technological capable rules. here's what's crazy about this. we turn this over to the epa. we give this to the epa. turn the cameras off. we are going to give us to epa and we will say, epa can you get to determine whatever is technologically feasible right now, that's going to be the one standard that is used throughout the country, throughout ivory coast so that people who build ships, drive ships come operate ships, know that they have a regulation that is set in stone. no more guessing. we can build warships. they can invest more money. we can create more jobs just by setting