more problem sport toshiba? the troubles do not seem to end for toshiba.r shares plunged by as much as i6% in tokyo today on these concerns are that it will rack massive loss in the nuclear business. this is the biggest decline for their shares since may 2015 and according to reports it may lose as much as 11.3 billion us dollars. i would be the lower scale of that loss. toshiba said ina lower scale of that loss. toshiba said in a statement that do not know the source of this report and they are assessing the current value of its assets but investors are concerned because toshiba has a week finances and any further loss would really damaged their books because i had the massive accounting scandal that led to record loss and three of their company had to step down. they received a fine from regulators that last year was not shareholders are really unhappy with toshiba at the moment. this is another problem for the company to face so it will not bea the company to face so it will not be a happy holiday in the toshiba boardroom. thank you for updating us on t

toshiba trading. falling. 20% right now after the company said on tuesday it may have to write down billions of dollars of worth related to acquisitions made by its u.s. unit, westinghouse electric. this was geared toward completing the newest iteration of reactors at two u.s. facilities. these projects are years behind. billions of dollars over budget. more woes when it comes to the accounting problems for toshiba. shares down close to 20.5%. i am yvonne man in hong kong. betty: it throws a wrench in any inns on nuclear expansion the u.s. given the meltdown in the stock price and also this deal. i'm betty liu in new york and you are watching daybreak asia. let us get to the first word news with sophie kamaruddin. u.s. authorities have announced the arrest of a suspected chinese hacker who allegedly attacks top new york law firms. onwas detained and macau sunday and is awaiting extradition. the indictment says he and two others targeted seven major law firms, making $7 million in risk profits. hong ko

toshiba.hat they might have to take the nuclear related write-down. we are in contact with the company. we don't know the size of the write-down but we know they will be taking one and we are getting reaction from various ratings agencies and s&p is the latest to give us that reaction. b-atiba's rating cuts a s&p. they are saying the ratings data suffer considerable erosion. toshiba to suffer a severe blow, shares falling by their daily limit, and they face this write-down. they said on tuesday, the company had to say on tuesday, they may have to write down the value of an acquisition it made by one of its u.s. units, westinghouse electric, but they might have to take them right down by billions of dollars, so we continue to watch the fallout from that stock, trading down by 20% in the japanese session. the latest it out of japan points to economic expansion in the fourth quarter. industry output increased by 1.5% in november, the most in several months. the economy seems to be ridden with pot

and it's all to do with a not so good purchase toshiba made in the us nuclear power industry. is in our asia business hub in singapore. good to see you and i hope you had a wonderful christmas. for those watching around the world, when i look at toshiba, i thinking television, dvd players are not nuclear power stations! some of our viewers may recognise toshiba with rice cookers, washing machines, but it also creates everything from skyscrapers and microchips and, as you say, nuclearfacilities. skyscrapers and microchips and, as you say, nuclear facilities. it basically bought the company and it is now thinking the company is not worth what they paid? the deal was done with westinghouse electric ‘s, it bought the business from chicago bridge i. it now seems the cost of the deal and also the value of the assets might not have been quite accurate and the company has come out and said its financial performance forecast it gave back in november may need to be put down and the company may be losing money. wasn't this year when the ship came out and sort of said, sorry, guys, we hav

that because toshiba of $78d it had a charge million.now it will be more. the total has not been finalized, but probably in the billions and would affect earnings. putting tissue offer this latest trading week. rishaad: absolutely shocking. still to come, the bank of japan revealing one member's dissent over the shape of governor kuroda's yield curve. details from tokyo on that. positive outlook for emerging asia, that is next. ♪ a quick check of the business flash headlines, presidente of japan's vegas advertising agency to quit, taking responsibility for the suicide of an employee who were excessive hours. he will go after the tokyo labor bureau said it would referred them to prosecutors. has been barred from logging more than 65 hours per month and overtime, down from 70. , the hut, taco bell, kfc company continues to sell franchises as a part of a plan to boost growth. re-franchise in turkey, a quipping and recruiting the best restaurant operators. yum brands increasing ownership by 98% by the end of 2018. says it must cut costs to m

they had lowered credit ratings for toshiba.related to toshiba saying it may need several billion dollars, the westinghouse , projects which are years behind schedule and billions of dollars over budget. again, toshiba falling. down by about 40 and so far. thank you. let's get back to the oil markets. talking about all the euphoria we do see in the oil markets. 2017, what are you going to be focused on? opec, that will be focus initially. looking through the first six months of the year. we are hearing the right noises from iraq and venezuela. they are making the right noises at the moment. the year, into february, when we will see the actual numbers or what sort of measures. on opec.arely how the u.s. response, we saw the industry data. whether that provides an opportunity for production to increase. opec and the u.s. will be the key focus. thank you so much for joining us. : loses out to gas. offer ald trump may change of locus. focus. ♪ asia." this is "daybreak betty: a quick check of the headlines. sprint says it is committe

toshiba -- left swimming in red ink. booming toshiba was when it bought westinghouse back in 2006. westinghouse built a reactor and they are building for them in the united states. and,are delayed, over cost because of that, toshiba decided to per the company that theracts -- constructs reactors. of cb&i last unit year. now it looks like they will have to take over the cost overruns in the value of that asset has dropped significantly, making them potentially have to make a write-down of as much as ¥4.3 nhk.on, according to what does a charge this big mean for toshiba was balance sheet? that is exactly the thing. a charge as big as 4.3 billion dollars means they may have to go back to the bank. they may have to provide them with preference equity, which could in turn, when they converted to regular equity, potentially dilute shares. which is one of the reasons why the price is plummeting today in tokyo. we have to look at what the charge will be. they are still figuring out what it will be. 3.4 billion is what they will have to do it they will have to go back to the bank. maybe the

toshiba is forecasting a loss. power systems operator by its westing house unit. there have been arguments over new their projects in the u.s. toshiba has lost a third of its value. >> we are yet to determine the down amount but it could be as much as billions of dollars. i would like to ask your continued support. >> the suit alleges the own petition against the group includes confidential data, business strategies, and confidential information. the former argentinian president has been charged with corruption over construction contracts. the judge has also frozen assets estimated at $640 million. she is also being prosecuted for allegedly manipulating currency futures markets. russian investigators are studying the flight data recorder from the military plane that crashed into the black sea earlier this week. were killede including members of the world-famous red army choir. it had refueled on its flight from a military base in syria. qualcomm it says it is going to appeal against a south korean antitrust ruling.

now, this is not new to toshiba. had a massive write-down last year because of it and .ccounting scandal so it continues with them to this year. david: so they don't just sell these units in the united states. they have a substantial international business. can they make this updavid: in e long run, internationally? stephen: internationally, it might be difficult. according to the academics i've spoken with, what this does is an attack on their business. one, if you look at the headline, it is a multibillion-dollar write-down. that is a lot of money. so if you are china or india or any other country building nuclear reactors, who would you buy from? the company that has massive right lines and has made headlines on bloomberg two days in a row? builtgo to the folks who the reactors on budget? at the same time, to sheila has to bear the write-down which will make the financing more difficult. this takes a lot of capital and they might not be able to get the folks behind them to give the final investment. alix: where wi

what does it mean for the balance sheet for toshiba? this is a lot of money and big money, and definitely not good for the balance sheets. right now if they were to take an impairment of $1 billion or $2 billion that would wipe out their entire profit for the current fiscal year. that is not good for investors. they can bear that, though. they have got cash on hand. if it were to rise to $4 billion, according to the analysts we have spoken with, that could be such a severe write-down that it could hurt their equity in their own company, and could hurt investors and folks who had shares of toshiba. this will reverberate, and it could hurt them going forward too. it is definitely bad news. michael: you are just listening to the press conference with the president of toshiba. how are they going to handle this, do they have a plan? stephen: they were very short on details. they just kept saying they are still figuring out exactly how much the cost will be, but they assured the folks that everything would be ok, that they would be able to ha

and the cost to ensure toshiba's bonds ahas widened.ny will consider equity financing to offset that nuclear impairment loss. we will be checking in on ashiba as the day wears on, well as what happens tomorrow when we come back to trade. back to you. anna: thank you. we will keep watching that toshiba story this morning. by .3%., up let's turn our attention now to latin america. accountsfiscal deteriorated in november with the primary budget deficit reaching $12 million following a one-time surplus from a tax program. brazil is on its way for posting its worst budget gap this year. here now to talk more about brazil and the region in 2017 the head of latin america at mabel croft. thank you for joining us at "daybreak" in london. it has been a really volatile period in the politics of brazil. how is brazil now compared to where it was earlier in the year? period, we were very focused on the fate of dilma rousseff. >> at the moment we have a sense of more stability, but there might not be more stability when we look at what has been happe

what does it mean for the balance sheet for toshiba?stephen: this is a lot of money and big money, and definitely not good for the balance sheets. right now if they were to take an impairment of $1 billion or $2 billion that would wipe out their entire profit for the

toshiba is talking about taking billions of dollars in write-downs. did they come to the figure? >> it looks like they are related to the acquisition of a company called chicago british and iron about a year ago. they were the big contractor for the two major utilities in the u.s. that are building a nuclear plants, and it looks like it might have taken a full year for toshiba to work through all of the numbers. when i got to the end of it, they apparently realized i have a lot more cost in their construction project than they may be able to recover from the main owners of the plant. vonnie: which are a southern company. will they have problems as a result? kit: it looks to me, initially, that due to a contract rewrite a year ago which was around the same time that cbn i was bought by toshiba, the utilities went out of their way to guard themselves against cost overruns and missing the deadlines and so on that might have really run up the bills. from the point of view of the utilities, it might be a good sign to see that toshiba has taken this big cha

japanese electronics giant toshiba is taking a hit for flagging a loss.re prices dropped after the company warned it's expecting billions of dollars in losses in a u.s. power acquisition. >> translator: i sincerely apologize for causing our shareholders anxiety. >> toshiba says the losses came to light after a review of the assets of a nuclear plant builder. toshiba acquired the firm last year, through westinghouse, the group's u.s. power subsidiary. toshiba booked a loss of 2.2 billion. >> translator: -- $2 billion in fiscal 2015. the group has been folkicusing its semi- conductor business, analysts say the latest development may force the company to take radical steps including raising capital. >>> china has issued a white paper on its space development program. the report lays out policies for the next five years, to improve the technologies needed to operate a space station and enhanced lunar exploration. >> translator: china will boost its drive to become a space power by developing a variety of projects. >> the paper released on tuesday says china p

it is toshiba. shares plunging for another day, wiping out all the gains they experienced in 2016 in just three days. more bad news for toshiba here. >> pretty much. down 26% at one point today, which is really a low, the record low for toshiba. they all weighed in, s&p saying toshiba shareholders will suffer. there are deepening concerns over the sustainability of toshiba's near-term liquidity. going on to say it could lead to a breach of toshiba's confidence. and they could impact the ability to increase capital. all of these factors coming in. since --he third day electric had been one of the best three supporting companies this year. anxiety we are seeing in the share price, it really comes off the back of about one oftement its units. what do we know about that right down? >> they do not have a finalize number. but it will be more than they had additionally said it would is $87 million. they said it is more likely to be in the billions. it will affect its earnings. back to you. yousef: thank yo

when we think of toshiba wi—fi not necessarily think ofa toshiba wi—fi not necessarily think of a companyof a company involved in the nuclear industry. sprawling comic yes, it is consumer electronics, it is moving away from that, it still has in important computer memory business, that does not gel with the nuclear, nuclear prom of easing like a good idea when they made yet he acquisition in 2006 because it was part of the solution to climate change, a form of energy which does not presume very much by way of the house gas emissions but since then, in 2011, the fukushima nuclear disaster, which affected prospect for selling nuclear technology, and in addition, the cost of wind and solar, other zero emissions technology has come down a lot, so with hindsight, it is not necessarily seem like the good idea that it was ten years ago. the headlines: public—health england warns of a middle age health crisis with eight in ten of those aged a0 to 60 either overweight, drinking too much or not doing enough exercise. campaigners for an early brexit write to business leaders across europe to try to

this as toshiba slumps again. a very warm welcome to "bloomberg daybreak: europe." , our flagship morning show. overd morning to you yusuf: in dubai yusuf:, -- to you, yusuf. we have to talk about the all-time record high for wednesday. i have the chart here for you, 16% higher than it was the day after the brexit vote. mining stocks, one of the big drivers of the search. story a big part of the and that's why got on this chart, the ftse 100 and white and expressed in dollars in the light blue and in euros in purple. you can see it's not quite such an impressive performance when you translated into other currencies. yusuf: you are speaking of currencies that are taking a little bit of a breather, but it's been an interesting run. 23 out of 26 trading sessions of gains for the greenback. that weighing in at the moment on the dollar in crosshairs as well. if you look at what is happening in terms of expectations for 2017, citigroup is saying the rally is going to extend into next year. .5%.ntly down what's going on

you also mentioned toshiba, more problems there.nghai comp closing down 0.2. >> i think worth pointing out in terms of international markets, the likes of japan, france, germany, also very strong in the fourth quarter, for different reasons why the u.s. has been rallying. >> they love that stronger currency. >> exactly. about 9% of gains for france and germany. let's look at broader markets. oil prices seven straight days of gains. 0.3% for wti. it's just below $54 a barrel today. brent, the international gauge, is higher by 0.5%. >> let's look at the ten-year treasury note. yesterday it was a traditional risk off day in terms of selling of equities, buying of bonds. it was a reversal of the theme that drove the first three, four weeks of the trump rally. back below 2.5% on the ten-year. the high we hit was 2.64% in terms of yield. the dollar was stronger yesterday. it was up 0.3% for the third day of gains in four. but markedly lower today against all of the euro, yen and british pound. 0.7% move in the yen higher. the euro move of

toshiba will be forced to boost its capital base. certainly bad news. stock down 12% in japanese trade. >>> now to some top trending stories. the tributes honoring george michael dominating social media over the weekend. the singer launching his career with wham in the 1980s, gaining massive success. he had so many hits. i didn't even real swriez it. george, his band made tweeting "heartbroken" at the loss of my beloved friend. madonna taking to twitter saying farewell my friend. another great artist leaves us. james cordon tweeting i love george michael. >> for '80s kids such as me, you know, prince and george michael, maybe he's not up to prince's threshold in terms of influence, but -- >> did he have so many hits. >> it does bring it back. >> hard to believe he was only 53 years old. so young. >>> it looks like fit bit and amazon echo topping holiday wish list this year. the fit bit rising to claim the number one spot on apple's ios store. amazon alexis app coming in at number four. >> taylor swift giving one of her biggest fans an unexpected christm

toshiba says cost overruns a u.s. project for much greater than initially expected.apanese are recovering from a major accounting scandal on last year's $2 billion write-down for its nuclear business. now, whoever wants to study a dynamic, vibrant, changing economy should definitely not study the german economy these days because europe's biggest economy is moving along at constant pace, not very much. christopher: in germany's biggest cities, like hamburg, construction cranes have been a constant feature of the skyline in recent years. >> more and more people are flocking to cities. living space is scarce and the construction industry is booming. few sectors in germany are prospering like the construction business right now. economists compare the german economy to a sluggish tanker moving forward stoically, ignoring most global crises and downturns. according to a new study by the cologne institute for economic research, german businesses are expected to see growth next year , even though it will not be robust. private consumption is expected to remain key to the e

forver, another nightmare toshiba, wiping away all the years gains in three days.ate's pay jumping spadest in five -- kate jumping the most in five years. trading underway in jakarta, the general trend to the downside. weakness across the board, new zealand the only bright spot in asia today. seeing australian market pullback from highs yesterday, and japanese stocks falling 1% on yen strength. banks and exporters leading that drop, and toshiba feeling the , sharestending the drop falling as much as 26% to

this situation with toshiba give pause to any future plans?more expensive than they estimated? >> apparently the payroll costs were higher -- i'm not sure what they were looking at before. payroll was one area, and apparently there was just a lot more material that they needed to acquire. they haven't been specific enough, i think, to really understand, because obviously, 200 something million dollars for the whole company, and now they had exposure beyond that. so it is a bad mix, obviously. to your other question, they really have raised a question that has to be in everybody's mind, whether in the year -- in the u.s., europe, etc., with this kind of uncertainty, who would want to go into building a nuclear plant, when you can build a gas plant these days for 1/10 of the capital cost. so much for you giving us some perspective on this toshiba situation with bloomberg intelligence. now for theme bloomberg business flash, a look at some of the big missed -- biggest business stories in the news. virtual reality, terms of the deal reported were

toshiba came roaring back this holiday season.onsumer confidence can a better-than-expected, giving it its biggest game -- gain. were -- amazon reported its best holiday season yet, having shipped one billion items. rose --after it's at app rose to number one. retail, and our editor at large, cory johnson. i have a new woman in my life, alexa. cory: really. amazon is very fast and loose with the numbers they published. 25%ctation was for year-over-year sales growth. yearsold nine times more more alexa devices than last year but we don't know what they sold last year. it is estimated that they sold about $1 billion of alexa products for perhaps very little profit. it could be a much larger number now. be a significant number, maybe not on an amazon scale. but still, selling a lot of these things is good, not just for amazon that it creates a flywheel effect for people who use alexa. more people have alexa or echo, the more they use amazon. if using get people to put this in their house, they are more customers. -- more frequent cus

toshiba trading near the lowest level in one month. the shortfall followed the acquisition of our services business, by the westinghouse subsidiary last year. there are conflicting estimates of how much. the nikkei news agency says $850 million for the dorchester nhk expects $4.3 billion. a warning about italy's proposed rescue of alien banks. a warning to the government fund should be the last resort, and that the measures are very only offered -- measures should be only offered to lenders that are fundamentally healthy. board meets later today to discuss the ec's assessment. itsformer imf 2 is urging big banks to clean up. it says they cannot lend aggressively when their balance sheets are clocked and are laboring under heavy fines. he says the real problem is how to boost growth and an advanced economy. >> europe has to get its act together, institutionally and economically. china has to make a success of its reforms. it is important that u.s. growth takes an upward turn and acceleration in the year to come. >> israel has raised its

shares of toshiba plunging after the company warned it might take the multibillion dollar cost overrunsnd missed deadlines. the u.s. nuclear business. zakat in any settlement with u.s. prosecutors of the company's defective airbags. sources tell in "the wall street journal" at deal to resolve the criminal case could come early next year. they have been linked to love and death in 100 injuries in the u.s. house flipping is making a comeback along with the housing market. the number of investors to of investors who flipped a home in the first nine months of 2016 reaching the highest level since 2007. one third of the deals were financed with debt a percentage that seen in a year. lauren: the average profit, $60,000 per home. not too shabby. dagen: dogcatcher on capital at risk. borrow the entire amount. lauren: a staffing crisis in the restaurant business that the government predicting 200,000 more line cooks and chefs will be needed in the next figures as the number of restaurants continue to grow. the shortage is partly due to the high cost of culinary school and years of long hours in

lauren: shares in the company toshiba taking a huge hit today. expects to break down as much a several billion dollars. the loss is connected to its u.s. nuclear business to the company's plan for turning itself around after an accounting scandal last year. dagen: heavy snow and dangerous travel conditions. the latest forecast coming out. take a look at u.s. stock index futures. up across the board, but can stocks turned around? you are watching "fbn:am', your first look at morning markets and breaking news. ♪ afoot and light-hearted i take to the open road. healthy, free, the world before me, the long brown path before me leading wherever i choose. the east and the west are mine. the north and the south are mine. all seems beautiful to me. i let my mistakes kind aof take over my life. i was point-five credits away from completing high school and i didn't do it. angela: i got pregnant and i was the main one working so, i did what i had to do to survive. jocelyn: sentía que la escuela no era para mí. karim: most of my family they never graduated h

the nikkei in japan down just slightly but toshiba shares down 20%.they had the tokyo exchange downward limit. the newspaper is toshiba might have to put billions in churches related to acquisition of a nuclear power construction plan. the shanghai composite down the top 1% today. dagen: makes markets in europe tell you about the the ftse 100 at 131%. we see slight losses in france and germany. lauren: three trading days left. we have time to reach dow 20,000. features at 33 points this morning that the nasdaq closed at a record high yesterday and 5500 for the first time. s&p tacking on five. dagen: let's check on oil and gold. 20 7 cents a barrel gain their uncle moving by $2.7 an ounce. lauren: oil has had a phenomenal year. yesterday was the highest level since last july. fueled by optimism that the economy of opec and non-opec nations. and fox business contributor with the latest. >> good morning. good to be here. they will follow through with their promised production costs. >> we got this overnight that venezuela reiterated the fact that they're

toshiba stock was up 80%. news of a write-down potentially in the billions. , and worth less than sharp may soon return to operating profit. analystsws powered by in more than 120 countries, this is bloomberg. let's take a look at the markets. bloomberg -- trading taking place in chiding -- in china. we are seeing gains across the board. ♪ carolyn: this is "bloomberg technology." coming up, the short-sellers warning that rattles nvidia. will one of 2016's best growth stories become a 2017 cautionary tale? plus the rise of the robots with u.s. jobs in the cross hairs. we look at if humans and ai can peacefully coexist in american offices. and sean parker drops the mike. masters cofounder on everything from how he first fell in love with coding, his bond with early hackers and how streaming can pump up the volume on declining music sales. first, to our lead -- after steadily marching higher the past few sessions, stocks fall back today. tech shares were among the biggest laggards. the nasdaq turning in its worst

. >>> toshiba shares continue to slide after moody's cut its credit rating deeper into junk territory. the japanese conglomerate has seen over 40% wiped off its share price since monday sparked by the news that toshiba will face a multibillion dollar writedown linked to its u.s. nuclear power operations. >>> global m&a deals topped the $3 trillion mark in 2016 and show few signs of slowing down. earlier this year we spoke to the global vice chair of transaction advisory services to get his outlook for m&a next year. >> back in october i said it would not be a record year, but 2016 would be a very good year. it looks like we will finish 2016 behind only 2015 and 2007. so not bad. we're expecting 2017, as you said, to be a really strong year. in fact, i think it could be a record year in terms of deal volume, maybe not value, because we will see smaller, more small deals as we talked about last time. always some mega deals. but 2017 will be a great year. why? the same reasons we talked about in october are still there. ceos searching for growth, uneven geographic growth driving cross bo

. >>> and toshiba shares fell over 20% in japanese trade hitting the tokyo exchange's daily downward limit. the drop came after the firm warned it may have to book several billion dollars in writedowns related to its acquisition of an american nuclear power plant construction company. toshiba shares fell 12% on tuesday after reports of the potential charge surfaced. >>> one of the best f.a.n.g. stocks to start 2017 with a bang, facebook, amazon, netflix and google, find out more on web web. we're going for a quick break. more after this. take one. directv now. stream all your entertainment! anywhere! anytime! can we lose the 'all'. there's no cbs and we don't have a ton of sports. anywhere, any... let's lose the 'anywhere, anytime' too. you can't download on-the-go, there's no dvr, yada yada yada. stream some stuff! somewhere! sometimes! you totally nailed that buddy. simple. don't let directv now limit your entertainment. only xfinity gives you more to stream to any screen. a-380. >>> welcome back. you're still watching "street signs." the president-elect stateside has chosen a form

toshiba has fallen by the david limit after forecasting a loss.ht downfall is the acquisition of a power systems operator westinghouse units. arguments over new nuclear projections which are a year behind schedule and over budget, they lost a third of their value. >> we are yet to determine the final write-down but it could be as much as billions of dollars. it may affect our earnings and we apologize to all of our stakeholders. we would like to ask your continuous support for us. >> u.s. secretary of state john kerry will offer a comprehensive vision for how middle east he's to be achieved. -- middle east peace can be achieved after the u.s. in theed from a vote united nations about the israeli settlements in the west bank. this is bloomberg. francine: it could be a grim start to the year for china, an ,nnual quota to upper the quan there will be a rash to sell the local currency. here is what people have to say. anthe issue in china is economy of that size and complexity, can you make the transition from a heavy industry infrastructure investmen

toshiba may take a loss on its business in the u.s., but there are conflicting estimates of how much. this coming after the acquisition of a power services business by westinghouse last year. there is a dispute over the unit's values. the nikkei puts the expected loss at around $850 million. nha expects that to be $4.2 million. sony music has apologized to britney spears after its twitter account was hacked and falsely reported the popstar's death. it comes to have years after a major cyber attack rippled the company's film division. sony says the issue has been fixed. was north korean attackers -- hackers angry over a set rogan -- seth rogen film. -- government funds should be a last resort. the ecb says that monte dei as $9.2ay need as much billion based on a recent stress test. they will be discussing the intent -- the european central bank's assessment. global news 24 hours a day, powered by 2600 journalists and analysts in more than 120 countries. a day when we are seeing very few markets open because of the holiday. the ones that are open, pretty mixed. you are watching bloomber

now to individual stocks, toshiba was a stand out stock. it tumbled today after the news of the company may post a huge loss of billions of dollars from its nuclear power operations in the u.s., down 11.62%. but shares of ono pharmaceutical surged on a report the company plans to sell its cancer drug to treat stomach cancer. ininvestors anticicipating trad to be thin in this last trading week of the year, but will continue to monitor any surprise moves. >>> now so south korea. lawmakers have been distancing themselves from scandal hit president park geun-hye. now others from her party are quitting. >> translator: we've dedecideto leave the partrty. president park loyalisists have forgotten the true values of conservatism, therefore they have lost the people's trust. >> the 29 legislators are expected to join a new party next monthth. more lawmakers are expected to join. for now, the largest opposition democratic party will become the largest force in the national assembly. observers sayay t the former mes may push for outgoing u.n. secretar

the crisis continues for toshiba as its credit rating is cut.he company has lost more than 40% of its value since christmas. commodities come back. raw materials set to snap a five-year losing streak, but can the rally be sustained in 2017? european markets opening up than for the second to last trading day of 2016. we were expecting to see some weakness at the start of the european equity trading day and having a look at where we are in the ftse 100, we are dropping down from the levels we achieved yesterday. the ftse 100 closing at all-time high levels yesterday. a little bit of change. since pre-brexit vote. mining stocks, a big driver behind the move yesterday. today, a slightly different story, down .3% as you could see in the early part of the trading day. let us cross over to sebastian salek with all the details of what is on the move this morning. slightly lower at the open, taking us away from a raising of the losses on the stoxx 600. will we get there? and analysts we surveyed say no, but we started -- we will end the year at 366. let

now, on to individual stocks, toshiba tumbled by double digit percentage points for a third day in a row on continued concerns over huge losses coming from its nuclear business in the u.s. also some credit agencies cut the company's ratings. now, softbank shares also fell, although donald trump praised the company's ceo for adding 8,000 jobs in the u.s. through its subsidiaries. howewever, some ininvestorors a concerned this could weigh on its earnrnings. on the flip side, shares of takata surged d on news the maks of airbags couould settle charg by paying up to $1 billion. we have only one trading day left i in tokyo this year. we'll keep you updated up until the close on friday. ramin mellegard, nhk market studios. >>> authorities in china's far western uygur region are investigating a deadly bombing. attackers drove into a facility and detonated explosives. two people were killed and three others wounded. the bombing happened wednesday in the southern part of the region. the three attackers were shot and killed. authorities have not yet released their identities. violence has occu

toshiba finally bounced back after seven days of declines, despite concerns of huge losses from its u.s. nuclear business. as t tokyo traders head off for their holiday, we asked an analyst at bank of america merrill lynch for his assessment of the year and his outlook for the year to come. >> at the beginning of this year, there was the risk of market environments driven by lower oil price, lower chinese currency. that led to stronger yen and risk of trading. then japanese equity basically stabilized, but then we had two occasions in which nikkei index swung more than 1,000 points intraday. both of them global political events. namely, the brexit vote in june and the trump victory in november. but japanese equities basically withstood and have returned to the bullish trend. i think the market is wondering what trump can deliver next year. but the reality is any impact fiscal easing is likely to materialize in 2018. i think at t this point we coul only say there is a high degree of uncertainty for 2017. one of the risk factors is how china will deal with new u.s. administration. it seem

toshiba rebounding from a three-day plunge that saw it lose 42%, today adding as much as 10%.ino shares helping lift that he could will market. shares like galaxy, m.g.m. china and others on the rise. next week we will be hearing from macau regulators on the gambling generated for december and the whole of 2016. when it comes to this month, revenues are forecast to rise 7%. that is the look in asia today. yousef: thanks. let's get back to some of the turkish data we got out at the top of the hour. the country had a $4.11 billion deficit. the survey of expectations by bloomberg was looking for $4.1 billion as a deaf set. the country's economy is continuing to suffer as the president continue toss crack down in the wake of a failed queue in july. i had touched on the weakens ma row economic fund men's in turkey, and this latest data fits into that picture. what does treft bode for turkey? is a turnaround perhaps in store? >> i wouldn't say a turnaround is in store for 2017. the economic fundamentals are weakening. the default of growth and the rate of growth is weakening, and th

it was formed in 2012 through a merger of hitachi, toshiba, and sony.he company has been struggling to compete against overseas manufacturers. it plans to turn itself around by investing in organic displays, used in smartphones. >>> well, regional railroads in japan are working to get business back on track. that's because fewer commuters are using their trains as the population ages. so operators are offering something different, sight-seeing trains for leisure trips. >> reporter: sightseeing trains are making their way across japan. there are now more than 100 different types. >> we'll have good memories. >> reporter: many offer special services, like meals made with local ingredients prepared by top ranked chefs. and popular viewpoints, the train stops or slows down for a photo session. this railway company located in western japan operates a number of sight-seeing trains. they debuted three years ago. they tour the eastern regions, best known for shrines and cultivated pearls. on average, 90% of the seats are booked. the fare is about $10 more than

toshiba says it may have to book a write-down on its u.s. operations, amounting to "several billion dollars." the company says it expects it will have an impact on earnings. shares in the first suffered the biggest decline in more than a year, down 11.62%. barack obama says he could have beaten president-elect donald trump, if he had run. axelrod,to cnn's david obama said hillary clinton had perhaps played it to save during the election campaign. trump fireback on twitter, saying "no way." profits at industrial firms in china accelerated in november, rising 5.5% from a year earlier. raw materials producers let those gains, with prices of products such as coal and metals continuing to advance. defendant -- japan's consumer prices dropped a ninth straight month, following zip -- falling 0.4% from a year earlier. it is worse than the 0.1% that had been forecast. is facing ajapan challenge stoking even a little bit of inflation. the markets, this is what we are looking at in terms of the weei function, to give you that beautiful overview. there

now, onto individual shares, toshiba fell to the dailily los limit, the result comes a day after the exexecutives acknowledged the firm may post billions of dollarars in losses from its nuclear business in the u.s. down 20.43%. now on the flip side, shares of industrial power tool maker hitachi kokiki, surged on repor of u.s. investment fund kkr in talks to buy the unit. we have two more trading days here in tokyo. we'll keep you updated on the latest moves as they happen. ramin mellegard, reporting from the tokyo stock exchange. >>> japanese labor authorities advevertising giant dentsu to prosecutors. theyey suspectct the company violated labor lawaws when employees were forced to work exceedingly long hours. officials of the tokyo labor bureau began a probe last month after an employee committed suicide. they ruled the death of the 24-year-old woman was due to overwork. the officials suspect the employees were forced to under-report their working hours, which exceeded agreement with the labor union. labor authorities also searched dentsu's offices in osaka, nagoya and elsewhere. th

here are the top stories, kicking off with toshiba. the company says it might have to book a write-down on its u.s. nuclear operation, amounting to several billion dollars. the company says it expects it will have an impact on earnings. earlier shares suffer third-biggest decline in more than a year. the italian government invests 6.3 billion euros in monte dei paschi, according to the newspapers. struggling bankshares will remain suspended today on long stock exchange. european central bank said monte dei paschi may need a capital increase of 8.80 -- 8.8based on results billion euros, based on results of a stress test. barack obama said he beaten president-elect donald trump if he had run. hada said hillary clinton perhaps played it to save during the election campaign. don't fire back on -- trump fired back on twitter, saying no way. shares in china rising 14.4% from a year earlier, compared with a 9.8% increase in october. the material producers led those gains with prices of products such as coal and metals continuing to advance. c

toshiba oh is a company that has internal scandals.ikkei saying today that the tokyo stock exchange is considering keeping toshiba on their watch list. this is where controls are being reviewed. they are expected to make a decision by 2017. there are reports it may stay on their alone longer over concerns that internal controls have not been adequately improved. the biggest decline when it ,omes to the australian session we have this story about chinese carriers putting quite a bit of pressure on fares from major airlines like want us, down about 2.5% today. betty: thank you. we have breaking news right now, president-elect donald trump, monitoring his twitter feed. trump tweeting, "i will be making my announcement of the next secretary of state tomorrow morning. he will be making the announcement of who will take that spot. there is lots of speculation that it is exxon ceo rick stiller, even though his appointment has come under rextiny and criticism -- tiller, even though his appointment has come under scrutiny and criticism by some.

much colder when the wind blows, that is called wind—chill, and for warm blooded animals like us and toshibaemperature in these conditions is increasingly hard as the wind blows so what we do with his sheep is we maintain them at 39 degrees, with... this array of heaters. and we also have a microcomputer. and what the computers recording is how much energy the sheep is using to keep that temperature in the prevailing conditions. so we will pop it back in and have a look in a minute to see how much energy she is using. if i was a sheep farmer, what difference does it make to me, this research here? ok, so, forfarmers, farming is essentially all about energy, we record the energy that is in that, the food that the animals eat, but there is also energy out of the equation, and whether it's a big part of that, keeping warming conditions uses an awful lot of energy. can i do something on my farm to help my sheep keep one? planning your farm was whether in mind, providing shelter the form of trees and hedgerows which they are animals can use could take shelter from the wind especially, and that wi

amrita: toshiba could have a right down.ose the impact on earnings as soon as possible. the write-down has to do with the westinghouse unit. they may reconsider the future of its nuclear business. the latest star wars movie is adding to a record year for disney. rogue one took in $96 million over the long christmas weekend. topped $7 already billion in global ticket sales, the first time that has ever happened. that is your bloomberg business class -- flash. that's because star wars was awesome and everyone should see it. is donald trump considered a small cap guy? we will talk about that with battle of the charts. this is bloomberg. ♪ david: this is bloomberg. i am david weston. coming today, some economic data. it is at 9:00 eastern time. the0:00, we will have manufacturing makes. right now, it's time for battle of the charts. taylor, you get to start. taylor: we've been talking about the equity markets. donald trump is tweeting that markets are up 10% did let's take a look at that. looked at the best of 2011. takinge, you

toshiba shares tumbling 11% after announcement u.s. nuclear business. the real estate market building toward a big 2017, we will take a look at what to expect from the industry next year. sometimes even santa gets it wrong. stores gearing up for holiday returns, here to break it with me dagen mcdowell, steve forbes and lee carter. what do you do when somebody gives you a gift you don't want? >> recycle it. dagen: you're a regifter? >> i take after one of my brothers who is notorious in the family when we get gifts, we wonder where did this come from, often he buys them but sometimes they -- they have been recycled and he's just been in a big move so we have a lot of presents this year. he told us in advance what to exct. sandra: wow. [laughter] >> i can't return. i have a thing. i got something that was half the size of me, i was flattered that somebody thought i was that small. [laughter] dagen: dagen has no problem. dagen: i will tell you on christmas day to your face, this is a lame gift. sandra: coming up this morning, we have a lot going on, profes

toshiba will be forced to drop its capital base which has been weakened.telling monte dei paschi that it needs to raise 9.2 billion dollars significantly higher than the 5.2 capital short fall previously estimated by the banks. the bank's cost jumped as it experienced large outfloss of deposits. it comes after the all the okinawa government approved plans last week to bail out the troubled lender. >>> half a billion a week it went up. it just never ends for monte dei paschi. >>> music icon george michael died of heart failure on sunday at his home in england. he sold more than 100 million albums over a career that spanned four dieds. his smash album faith sold 25 million copies and earned him a grammy. he became the voice of social reform. elton john calling george michael the kindest most generous soul and a brilliant artist. george michael was 53 years old. >>> let's get -- i'm looking on drudge. i don't see anything on here. >> about brittany. >> yeah. >> back to the markets. now this week, this last week of the year's typically positive tore stocks and