let's start with toshiba.rbal company coming to the end of the road. -- this venerable company coming to the end of the road. a highly respected analyst will be joining us in about an hour 15 minutes. we will get his take. a look at what is going on with janet yellen. she was speaking to congress. getting some convinced there will be of move in interest rates sooner rather than later. she was sending a note that she was defiant, yet says she was perhaps in baffled. embattled.led -- that and more. >> we will come back in a few minutes. a 97% plunge in quarterly profit after margins in its luxury jaguar land rover unit narrowed. that is even before brexit and a proposed u.s. border tax on imported cars. we are joined live from singapore. how vulnerable are they right now? >> it is a worry. if you believe what tata motors is saying, better days are ahead. it is launching new jaguar models. that is expected to boost sales and profit as well. in q3, whichwe saw was pretty dismal. contributed by the 62% slump in its

toshiba says of this.esources for further growth, we are taking a very flexible stance on the memory chip business. we do not insist on securing our majority stake in this business. said theysly, toshiba would be a 20% stake so they could retain control of that unit. toshiba at the moment, the chip unit is doing well. it is driving profits for toshiba, $438 million in profit. that accounted for more than half of income profit during that period. the fact that it is considering selling means -- rishaad: that was a surprise. youou're private equity might be looking at this as a lot of bright spots, i suppose. difficult for them to forecast what the future holds for toshiba. how you look at their earnings. rishaad: this is the key, is it not? , $6.3 billioney write-down, connected to its nuclear unit. and that is one of the key pillars for toshiba. it has said, all options on the table. are constructing nuclear facilities but they will depend on engineering and providing for those. it takes away a huge part o

they said as of last december toshiba's debt exceeded its assets. the executives are thinking o o selling off some of the mainstay flash memory operations to raise the cash they need to improve financial health. they may sell a majority of their stake, more than they had planned. some of toshiba's main lenders say the company should focus on making drastic krmpls and secure as much funding as possible even if this means giving up some control.l. but some tovoices at toshiba ar expressing some passion. >>> another sign of trouble can be seen in its shrinking business footprint. analysts at privatete creredit researarch firm teikoku data ba said toshiba had 30 associated companies in japan as of july 2015. now the number has dress decrea 24 and business connections are down 38% to about 13,600. officials at the research firm say toshiba sold its medical and home appliance businesses in the wake of the scandal. >>> the latest developments at toshiba have sent its shares down for the second day in a row. its stocks price has lost nearly half its value s

five people were injured. >>> the ceo of toshiba.is kpped to post a massive loss of more than 6 million people. >>> they have been addressing the delay in the finalal earnin report. even though they revealed the they say you need untilil marar4 to the givive finalized numbers. >> bececause of an unexpected reason w havave had to postpone the relelease of the financial results for the april to december period. we sincerely apologize jazz for that. >> toshiba announced the chairman will step down on wednesday. he w w in chargege of the nucle power sector including westing house. they also say they will sell over 50% of the semi conductor business. which i is more than previously planned.d. originally they s said it woulde less than 20%. >>> they say they were warned more than once in-house controls were inadequate. that lead them to investigate the matter. you're watching nhk newsline. jonathan has the world weather including deadly avalanches. >>> hello. you see a mix of warm and unstable air and it triggers the possibility in the reg

the nuclear power station which toshiba isa nuclear power station which toshiba is a major shareholderwer plant in cumbria is 60% owned by toshiba, and also the nuclear reactors, the three nuclear the nuclear reactors, the three nu clear rea cto rs the nuclear reactors, the three nuclear reactors they are supposed to build in cumbria, are toshiba designed. in a statement today the company said it will not consider participating in the project carrying out actual construction work any more, and it will seek to sell its shares to interested parties. the consortium itself in the uk has released a statement saying that toshiba remains committed to the project, but that seems to be contradicted by the statement here released by toshiba in tokyo and puts in doubt that'll contract in tokyo and puts in doubt that'll co ntra ct if in tokyo and puts in doubt that'll contract if toshiba pulls out. rupert wingfield—hayes, thank you very much. police are investigating the death of a ten—year—old boy at a branch of topshop in reading. he suffered serious head injuries in an incident involving store

what happens now to toshiba is unclear.ue the company, it could be broken up but the real question nobody is sure about is what will happen to its north american nuclear division which is deepin american nuclear division which is deep in debt and still is constructing for nuclear power pla nts constructing for nuclear power plants which are halfway through construction. what is really clear is nobody wants that business, there are no potential buyers apart from perhaps the japanese government. one unit that is attracting interested buyers is its memory chip business. it isa buyers is its memory chip business. it is a crown jewel of the firm but the boss of toshiba said in a press conference that he was willing to be flexible about its fate. our memory chip business, we want to secure resources which will spur future growth. we are thinking very flexibly which means we will not fixate on having majority stakes in the business and will consider introducing external capital with a flexible mindset. journalists expressed frustr

toshiba's falling star.hy a $6 billion nuclear right down is just -- writedown is just the beginning of the problem. has beenoolittle watching it all day. what happened? >> great to have you here. it is pretty amazing. yet another day of simultaneous record highs for the dow, nasdaq, and s&p 500. apple putting in its first record high since 2015, right about two years ago. two record highs and a close. two record closes in a row. behind this is continued bullish chatter about the iphone eight super cycle, the potential for that, but strong demand for the iphone 7, so a really big turnaround for the disappointment on the iphone 6s. out of the election, cap was a losing center. we take a look at -- this shows a lot of the technology shares out of the election. there is a lot going on. the main point, if we really take our time with this, the main point is in orange, that is , really hitting new highs, up 18% on the year. the other stocks are trading closer. this goes back to the election. as you recall, tech w

it is be, this could put toshiba at risk, injeopardy.a at risk, in jeopardy. it is a brand that we have seen over the last few decades really decaying. they have had few challenges in the technology market —— huge. it purchased westinghouse as well. that hasn't quite worked out for them. they are taking a big loss and these are the issues. for the uninitiated, in 2006 when they took on westinghouse, they were building three nuclear power plants. they have run over budget and it is costing the company huge amounts. they have run over budget and it is costing the company huge amountsm isa costing the company huge amountsm is a huge risk when you try to diversify into a different market, develop those skills and the capabilities in such a big area. it has not paid for them. could it undermine toshiba? we will have to see what the japanese do to shore it up. it is not often that the head of the said talks like this about a president's economic policies. we have been waiting for this. janet yellen, the boss of the federal reserve , yellen, th

toshiba shares go into meltdown after the japanese giant delays revealing its latest numbers followingscandal. welcome to world business report. i'm aaron heslehurst. i know, it is on friday, it is tuesday. but i'm stuck here. in a moment the boss of ryanair, michael 0'leary, tells us he's worried about the effect brexit will have on the airline industry. but first, in the last few hours, former banker steven mnuchin has been confirmed as the new treasury secretary. asjobs go, it's a very important one. besides serving as the nation's banker, paying its bills, collecting taxes and managing its debt, the secretary is also one of the leading regulators of banks and wall street. so how well do we think he'll perform in this new role? here's what we know about him. he's been critised as a wall street insider, having spent 17 years working for goldman sachs and also setting up and running several hedge funds. this has enabled him to finance dozens of high—profile hollywood films, including titles like suicide squad and the lego batman movie. last april he joined the trump campaign when the

toshiba has agreed to sell its 65% stake in toshiba's medical finance to canon.t to take a look at another stock. kospi, aeing it on the electronics company up about .03% today. sent to bejay y. lee selling again by the special prosecutor this wednesday. he was arrested last friday. formal charges had that's have yet to follow. future, wesamsung's do have a newspaper reporting the company does plan to set a --0 million fund for an in a &a because samsung has been actively seeking a high makers in terms of what they want to buy in the future. personre, we do have a looking at australia. we have a bunch of earnings in that market. betty: we do indeed. we are on the lookout for china's property price numbers for january. what should we be expecting? sophie: we are expecting on extension of the decline in prices and home sales that we saw december. that will mark a third straight month of slowing. i want to pull up what we have on the charts for you. take a look at the bloomberg intelligence china real estate index. you can see how 22 mainland properties have been ra

toshiba is the lead developer in that joint—ventu re toshiba is the lead developer in that joint—venture moorside nuclear plant in britain. we'll bring you more on that with our industry, respondent inafew that with our industry, respondent in a few minutes' time. prevent is the name of the government's controversial programme designed to halt the emergence of home grown terrorists. we often hear arguments made for and against it but all too rarely the stories of the individuals it identifies. stories like the one you'll now hear — of a ten—year—old boy, whose questions led him to some of the darkest places on the internet, and eventually to stand up in front of his class in london and declare his support for the terrorists of the so—called islamic state. he was then taken on by the programme and had case meetings for over a year. the boy, who we are calling haaruun, has been speaking to our chief correspondent matthew price. haaruun is a small boy with a round faced and engaged eyes. you can tell that he's intelligent, he asks questions, lots of them. and it's that curiosity that got hi

joins us.amura how bad is it for toshiba? >> yeah, very messy day for toshiba.own is short billion. that was more or less in line. what we did not expect was that they would fill up a majority stake of their chip is this, their memory chip business. they are one of the leaders in the industry and this was their last prize crown jewel. they came out and said they are going to sell the majority. it means toshiba is a shell of itself. is nowlear business tarnished, taken a giant write-down. is left really, not much left, so that is the big takeaway. the chairman stepping down just nine months after he was appointed. a huge messengers of management of toshiba. might start shrinking very quickly. we'll see how the shares react, tomorrow. presse have got this conference coming up. anymore surprises from that? yuji: never underestimate toshiba to disappoint you, so that press conference is going to start sin. the headlines will be on the terminal. the press conference lasts for about one hour. we expect them to talk about how goingwhat they are really to do with nuclea

what should we be looking for when toshiba reports? >> morning.sizable dump at noon here in tokyo. the right down of the nuclear unit westinghouse will be the focus of attention. aboutnumbers crept up to 700 billion that we expect to be announced today. toshiba paid less of them that when it bought westinghouse in 2006. we would like to see some sort of a rough roadmap for the nuclear business going forward. the company said they are considering quitting the reactor construction business altogether to focus on fuel and maintenance. if one of the major competitors stop taking orders, that is an impact. the earnings themselves, for your losses and to the consensus is about ¥300 billion. if the situation continues as of march, the company will be bought down from tokyo stock exchange section one to two. we will be looking out or any language about growing concern. exactly where is this coming around? doubts.s likely to do to claw its way back from this precipice? thing on the agenda is patching up the balance sheet. we know that the company is lookin

guess why dedicate is down, maybe something to do with toshiba. all opened pretty mixed at the moment, just waiting to see what happens. " things coming up. lawrence gosling, editor—in—chief of investment week. always good to see you. i was mentioning china's inflation numbers, we are getting inflation in the uk. we are expecting 1.996, numbers, we are getting inflation in the uk. we are expecting 1.9%, an the uk. we are expecting 1.996, an increase. still relatively low, but the direction of travel is what concerns economists. will it keep increasing? on a global scale, do we like inflation? we like a little bit. central banks like it if they can control it. they wanted to gently rise and then stop when they want. businesses can put their prices up and nobody notices. exactly. we like it as employees, because we might get more of a pay rise. it is an illusion. not if you work for the bbc! janet yellen is speaking in the state. the boss of america's central bank. she is before the senate committee, giving her view on the american economy, she is i

toshiba originally planned to sell less than 20% of the business. but the board of directors you now says that's not enough. anand it agreed to push back titiming for new investments beyond the initial target. toshiba will seek the approval of shareholders at a extraordinary general meeting on march 30th. the firm is planning to quickly sell some assets, but there's a chance it won't be able to do that in time to cover its liabilities. which will become clear at the end of the fiscal year on march 31st.. in t that case, the tokyo stock exchange will downgrade toshiba from its first section to the second. >>> leaders in some asian countries are looking beyond the decision by the u.s. to pull out of the trans-pacific partnership, free trade deal. they're turning their focus to another free trade framework, the regional comprehensive economic partnership. chief negotiators are in tokyo to lay the groundwork for official talks in kobe, western japan next week. >> translator: the push toward protectionism is growing throughout the world. so given the exp

. >>> japanese maker toshiba is struggling. the head of japan's largest business organization is calling on other japanese companies to offer their support. he wants to keep toshiba's technology in the country. the chairman of the japan business federation called toshiba the crown jewel of japanese industry. >> translator: toshiba produces one of japan's most important technologies. it's not desirable for an overseas company to acquire the japanese makers top level engineers and technologies. >> he added that the whole industry sector needs to support toshiba to protect japan's security and national interest. they are interesting spinning off it's chip business and selling a majority stake in the new company. it's projecting a loss of over $6 billion from its u.s. nuclear operations in the current business year. >>> japanese government officials are trying a new approach to help nursery schools cope with a serious shortage of care givers. many major i.t. companies are moving into the field. a nursery launched a smartphone base

he was said toshiba's debt exceeded its assets as of december. they are considering selling more than half of its mainstay flash memory business up from the original plan ofless than 20%. they will stop taking new orders for construction of nuclear related plants abroad. toshiba officials will spend about a month to investigate reports that accounting on their u.s. nuclear business was handled inappropriately. it was internal reports that brought the problem to their attention. >>> the chair of the u.s. federal reserve says she intends to consider raising the key interest rate during upcoming meetings. janet yellen was testifying. market players say the fed will likely make its next move in first half of this year. >> waiting too long to remove accommodation would be unwise. >> she said in upcoming meetings fed policy makers will consider whether a rate hike is appropriate after they evaluate employment and inflation. the next policy meeting will be in march. she said the policy makers will discuss in the coming months how the central bank will r

we have south carolina toshiba utility saying it plans to find a different builder but stick toshibawhen it comes to chips, on tuesday, the president said the company is not willing to sell the majority or entirety of the business. it really changes things because the business could be worth as much as $14 billion, but the question is now, who are the buyers? we know private equity is interested. other competitors would be looking at it as well. matt: if toshiba does sell its semiconductor business and exit nuclear, what is left of the company? is this company essentially going to sell off and reassemble just without westinghouse? in reality, toshiba is a conglomerate of more than 600 companies. nuclear and chips only account for about one third of its tales . what is left is really the profitable consumer electronics businesses, but the majority of it is something that calls social infrastructure, which is elevators, thermal power stations, transmission lines, healthy businesses, but unfortunately, none of them can offer the growth that chips and nuclear could have offered to the gr

the chairman of toshiba quit his job.oshiba has delayed reporting of financial results by a month and it has sent energy and electronic shares plummeting. >> a new cloud of scandal hangs over to sheba. trouble push the chairman to step down. he will resign as the chairman and resolve on -- work on resolving matters with westinghouse. i apologize to shareholders and stakeholders for concern or inconvenience caused by these issues. in they expect a loss of power business this year. the nuclear industry has been struggling since the 2011 meltdown of the fukushima power plant. toshiba is reeling from a scandal where they doctored profit figures. toshiba is considering selling a majority stake in the memory chip business. they are going to restructure their nuclear division. the share volume -- value plummeted 8%. >> the european parliament will vote on a free trade deal with canada. it still needs the approval before it can enter in to force. make aoved, it could case for the agreement on thursday. if it goes through, it will

akkei says toshiba will issue risk morning after charges set to top $6 billion.his is the second hour of daybreak asia. yvonne where it is just after 8:00 a.m. betty: i'm betty liu. as you mentioned at the top, we are waiting for inflation numbers coming from china. and a little later, we will get confidence confidence index out of australia. we will see how sentiment is there. in the u.s., we are waiting the of steveion vote mnuchin, the treasury secretary nominated by donald trump. the economy is missing a treasury secretary from that treasury secretary from that department. that is being awaited by the markets here. y of steve vonne: they will have to do quite a bit of catch-up. the markets have been waiting. no doubt, we have seen bullishness in the market. talk about inflation as well. we had south korea, taiwan report inflation figures. one set of deviation. china, maybe we can see some prices rise when the numbers filter through. let's check the market open here in tokyo. here is david. david: it might come down to pork. we have to talk about pigs later on

the only meaningful negative was japan, which is weighed down heavily by toshiba shares by 8%.i down 1.1%. as you can see, hong kong and shanghai flat. >>> as we look at broader markets, it's interesting to watch the price action in oil. the resilience in oil and the impact that has had on investor sentiment and stocks as well. today, slightly higher at $53.37. reversing a downward loss. we were looking at the first loss in four sessions for the price of oil. but holding on to gains. ice brent crude higher by 1%. nat gas lower by 0.8%. what is more in focus, the ten-year treasury note as the fed kicks off its focus, the impact of trump's fiscal growth and monetary policy. ten-year treasury just below 2.5%. >> that slip in yields that did hurt the dollar and with it partly some equities last week was temporary. we have rebounded pretty quickly. we are now back towards the 2.4, 2.5 range. either way, as rick santelli points out, the important range is 2.3 to 2.6. even with yesterday's loss, we were within that range. until we break one of those two levels, he feels we're range-bo

. >>> turmoil at toshiba. the chairman announces his resignation as a delayed earnings release sends the stock down 8% in tokyo. >>> apology not accepted. national security adviser michael flynn resigns after apologizing to vice president mike pence for misleading him on russian relations in a significant blow to donald trump's administration. >>> good morning. welcome to "street signs." it is valentine's day, if you can't tell from the show of red on set today. let's get you up to speed on this holiday with some data out of italy on gdp for the fourth quarter growth figures. looking at a preliminary reading on the quarter of an increase for 0.2%. that is in line with the reuters forecast on an annual figure, looking at an uptake of 1.1%. this is in line with the previous growth rate of 1%. >> glancing at our european equity markets, we are slightly mixed at the moment. i would call these relatively flat markets, with the ftse mib and cac 40 pulling higher. and the xetra dax and the ftse 100 just a bit lower.

shares of toshiba plunging 9% in tokyo today.oshiba's president speaking at a news conference in the last hour. the japanese electronics giant said its chairman is resigning from the board to take with instability of the $6 billion lost in the u.s. nuclear business to cost overruns. toshiba will also delay and anxiously awaited earnings for part detailing those problems at westinghouse. train to the tissue the story is timely because making japan down 1.1% overnight. the hang seng in hong kong can safely pick cost in south korea to two tenths of 1%. a great era barely moved higher but in a fairly deep. nicole: first drop in six sessions a year. the cac down fractionally friends had treatment dax down fractionally and the london ftse squeezing out. and that's in 6500 layoffs. better-than-expected outlook that the loss of the quarter. 45 days in either direction. we are record highs nonetheless. after rising for three days from the dow down by 16 points. s&p down to, nasdaq down three in futures trading. true to the 1% of the 45 da

toshiba managagement plans to reduce the staff overtime rarat. the daily allowance for business trips and cut bonuses. cuts started last year after the bubusiness was hit by a scandaln 2015. sources say the labor union has expressed a degree of understanding and will begin talks with management. and it's not just ordinary workers losing out. managers, includinging 34 executives will be takinging pay cuts. turning to the markets, tokyo stocks fell on a weaker dollar. uncertainties over the u.s. president donald trump's policies are cappinging the bounce on the greenback. our business reporter has more from the tokyo stock exchange. >> investors are feeling the political risk in the yuan that's dragging down u.s. treasury yields and the dollar and weighing on japanese exporters, the nikkei 225 finished at 19,234, extending losses for a second session. as for a week, the index fell 0.7% and the topix ended .4%. the dollar weakened to a one-week low after expectations for a march rate hike abated as fed officials are suggestinging gradual rate rises.

a south korean company wants to buy part of toshiba's memory—chip business.re. this is all about sheep are needed to raise some funds pretty quickly? it is. it is notjust any old chip maker that is looking to buy the sta ke, maker that is looking to buy the stake, it is the world like second largest chip—maker after some song. it is all according to sources in local media and elsewhere, that they have submitted an initial bid, although the size of the stake has not been decided. toshiba needs to raise funds to offset a multi—million dollar write—down it has had on its american nuclear power business. both spokespeople from both companies have not commented on the specifics of the process , commented on the specifics of the process, but analysts say that hynix would benefit from toshiba's technological know—how. their products are used in long—term data storage. demand for these chips has risen sharply, mainly due to the growing need for quicker processing of smartphones and other mobile devices. at the same time, toshiba is planning to stop building nuclear p

up,, god, an -- also coming another scandal at japanese toshiba.n leaves -- it is actively after $6 billion. -- an executive leaves after a loss of $6 billion. we will check into the chocolate capital of brussels. first, our live story in brussels. ♪ genie: we will start in the u.s. with the resignation of national security advisor michael flynn. down late monday following controversy over his contact with russia. the u.s. justice department had worn to the white house last month that flynn was vulnerable to blackmail over his conversation with them russian abbasid or to the u.s. flynn was one of donald trump's advisors. -- with the russian ambassador to the u.s. reporter: michael flynn is out. it is what he did before his official tenure that led to his resignation. flynn, who was selected by president-elect donald trump in mid-november, contactor russians u.s. ambassador. here previously told reporters and white house officials that in those conversations were simply an exchange of pleasantries. vice president mike pence took and defended him aga

the announcement would mark toshiba's second straight year of a net loss for the nine months. the company fell into the red during the same period in 2015 after its accounting scandal came into light. toshiba is also expected to disclose the exact amount of losses from its nuclear power unit in the u.s. its earlier estimate had shown that couldld be in the billionsf dollars. the executives are also planning to unveil a business plan that will likely feature a review of the group's overseas nuclear business. toshiba's planning to turn itself around by spinning off its flash memory division and sell off part of its stake. >>> and you can catch our report again online together with a full transcript. just look for nhk world and "business wrap." that's a look at business news. i'm going to leave you with the markets. >>> music fans around the world are abuzz with the results of this year's grammys, and japan is no exception. pianist mitsuko uchida has shared an award for best classical solo vocal album. the 59th grammy awards were handed out in los angeles on sunday. uchida and ge

toshiba is down 9%. over the course of the week, we have seen toshiba off by about 23.5%.more bad news coming through for that stack. looking at the japanese yen -- down by 0.1%. ending up the trading session in japan with 113. manus: thank you. rounding out the latest on the markets, juliet. let us talk about one of the biggest corporate stories, samsung. has beens jay y. lee formally arrested on allegations of bribery, perjury, and embezzlement jeopardizing his world's tope cellphone maker. let us head over to taipei. tim is standing by. great to see you this morning. what is the biggest risk to the company as jay y. lee remains in custody? tim: jay y. lee is still vice-chairman and that is the -- will staystayed in custody for 80 months. it could be an even longer prison terms. he risk is that he is in and is not in. he is still basically in power and you do not know whether or not he will be released, found guilty or not guilty. the interim management needs to assess that. if they want to have new leadership, they do not know if or when jay y. lee would return willlead

toshiba stocks rose almost 2% in early trading but closed about 1.39% lower. thank you.r stock on the move was hsbc, it is listed in hong kong as well as london, its shares in hong kong were head quite badly when the results came out, shares down on the hang seng something like 3.5%. that is ready‘s close for the states, it was president's day on monday so no action on wall street yesterday, they will reopen after a nice long bank holiday weekend. let's look at europe, bhp billiton shares are doing nicely if we can move on to the european markets. and anglo—american as well came out with results very similar to bhp, a real turnaround, losses last year, big profits this year, commodity prices have been on the way up. in particular, metals. not enough to boost the ftse. hsbc is lower, mining stocks higher, the ftse down by almost 0.4%, the european markets are headed lower. back to rachel. mike amey, managing director and portfolio manager at pimco, joins us now. thank you for coming in. i will bore you with banking, we started with hsbc, lots of the banking stocks are dow

toshiba losing 3.3%. media reports say the companies that could exceed in the current fi fiscal year. this could get toshiba removed from the first section of the tokyo stock exchange. >> moving on to other markets in the asia pacific region. in china, the shanghai composite ended up by .5%. investors are hoping ahead of the annual national conference in march. close at 97.71. profit taking weighed on the index following a five day rally. investors shrugged off the outlook for this year's gdp growth. it ended down a touch and inched higher after january. >> the heads of major u.s. retailers met with president trump to give push back on plans he has pledged to overhaul. >> we'll also reform our tax code to help middle income families and american businesses grow and thrive. >> yet one proposal is being considered which they say would raise the price of imported products. republican lawmakers have drawn up plans and would lower taxes on companies that export but do not give the same benefit to firms that in

this is the second accounting issue that is, in toshiba. issue and took a write-down last year that was more than $2 billion. another write-down that will be multi billion dollars, a big deal for toshiba. that's touched some of the other companies companies. -- japanese companies. sell a chunkg to of their business, 20%, to raise a couple of billion dollars. looking eagerly as what the numbers are when they break. peter ahlstrom live from tokyo, thank you. coming up, google's car project has hit a few road bumps. behind-the-scenes next. a new feature we would like to bring to your attention. an attractive tv function at tv on the bloomberg . previous interviews and a dive into securities are bloomberg functions we talk about. become part of the conversation by sending us, send me an instant message during the show. this is for bloomberg six robbers only. -- subscribers only. this is bloomberg. ♪ --oline: facebook is adding a deal with univision, the social network cost 46 mexican football or soccer games starting saturday and through t

the battle has not ended yet for toshiba. anna: thank you.rve chair janet yellen sees more rate hikes ahead if the economy stays on course. she spoke yesterday on capitol hill. manus: here's what she had to say. i noted in as previous occasions waiting too long to remove accommodations would be unwise. potentially requiring the fomc to eventually raise rates rapidly. which could risk disrupting financial markets and pushing the economy into recession. plansnot know what fiscal congress and the administration decide on. we are not basing our judgments about current interest rates on speculation about that. the economy has been making solid progress toward achieving our objectives. the unemployed rate is close to levels we regard as sustainable in the longer run. inflation has moved up and it is those trends that are driving our policy decisions and not speculation about fiscal policy. the fomc has enunciated that it's longer run goal is to shrink our balance sheet to levels consistent with the efficient and effective implementation of monetary

sources say toshiba will hold a board meeting friday to agree on the sale. executives will also set the date of an extraordinary meeting of shareholders to seek approval. toshiba predicts huge losses, stemming from its nuclear power business in the u.s. that has forced the firm to spin off its semi conductor unit to secure the funds needed to improve financial health. executives are aiming to reach an agreement with the unit buyers by june. >>> policy makers at the u.s. federal reserve have released the minutes from our recent policy meeting, when the members kept the key interest rate unchanged. minutes show that the members agreed that the u.s. economy continued to expand at a moderate pace. and many believe that it would be a good idea for another rate hike to come in the fed's words, fairly soon. the participants said this could happen if they get more information, showing improvements in the labor market and inflation. a few even noted a possible rate rise at a meeting in march, but they also saw uncertainty surrounding any changes to government policie

. -- toshiba.uesday it was supposed to explain how much trouble its nuclear business was in. 2 hours after the time of the expected report, toshiba said they needed another month to finalize earnings. a provision report shock full of surprises. thosiba says it will take -- toshiba says it will take a $6 billion write-down. it may have to sell its nuclear business altogether, also selling a majority stake in its memory chip business, what used to be one of its you break shots. -- its few bright spots. who created the man the payment app beloved by millennium -- by millennials. this is bloomberg. ♪ cory: amazon web service unveiling a videoconferencing project called amazon chime, payment at the business market, competing with existing products from microsoft, cisco, and lock me in. logmein. bad news for logmein. amazon revealing how much it is bringing through its private membership program. it could be a big deal for investors trying to give clarity on this secretive company, and its potential to c

toshiba shares fell. is currently down a .5%.l $4.4 billion loss means shareholder equity will drop to negative one billion dollars. toshiba may now sell a majority stake in the chip unit. it is buying fortress investment paying a $3.3 billion, 39% premium to the alternative asset managers last closing price.

toshiba shares are down for a fourth straight day.lobal news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i'm courtney collins, this is bloomberg. seenill ahead, the woman as a next chief executive val is to avoid moves that could revive anti-china protests. sews confusion over the israeli-palestinian conflict because someone close to the president -- ♪ ♪ this is "daybreak asia." >> a quick check of the latest headlines. furthersachs gives a boost to metal prices. into china's oak old economy -- industrial commodities have enjoyed a rebound over the past year on improved demand from china's property and infrastructure sectors. >> record i am or output -- record iron ore output. they beat estimates. reporteed copper and nicele at at l; >> southeast asia's third base lender says profits fell in a fourth quarter after its drop and noninterest income. united overseas bank saw net earnings increased to $522 million in the three months to december. that was a slight beat estimates. president

toshiba slipping for a fourth day. a single project may be in jeopardy as the u.s.irm says it may be seeking a new contractor. in australia we do have it snapping a two day rise, act by health and material. gold-mining, seems to be gaining confidence. third biggest oil and gas producer falling 1% after better than normal forecasts on sale volumes. narrowsee its net loss to $1 billion from $1.9 billion. samsung, weigh on the index for the drop of three points. the index on course for a second day of declines. take a closer look at what is going on with that story. 8/10 ofic shares down 1%, samsung and at&t taking a hit. one of the largest shareholders in samsung electronics. jay y. lee had a 17% stake in cmt -- c and t. jumping as much as 4% earlier they, there are rumors sister will be taking the top job at samson. today, the trump was upgraded to a by no more. they benefited from the growing stream of chinese tourists. we will be keeping an eye and what is going on in the samsung space. rishaad: thank you so much for that, sophie. let's get the first word headlines

art private equity funds, and they will want to have some management control, which are not short toshibave away. —— unfortunately, they want to keep. and a fifth time high since president trump is up, the dow and the nasdaq finishing in record territory. this is how the regional markets are opening. investors here are hoping that tax cuts, expected to be announced, will stoke us corporate profits and investment. in the currency markets, that is pushing at the value of the dollar, trading at its highest value in two weeks against the and, at 113.50 eight. the weekend is good news for exporters. the japanese economy is not seen the momentum it needs to get out of a slump. i asked a former bank ofjapan get out of a slump. i asked a former bank of japan member what get out of a slump. i asked a former bank ofjapan member what else the bank ofjapan member what else the bank can do. —— gerhard -- 113.58. the bank of japan -- 113.58. the bank ofjapan did --113.58. the bank ofjapan did everything they can do. but now we need a way to improve our productivity and economic growth is, and a new pro

toshiba was added to the list of securities on alert following accounting irregularitieirregul. let's turn to markets. share prices open higher. that followed a winning streak we saw in new york. many investors were cheered as trump suggested a massive increase in defense and structure spending. right now the nikkei is trading higher. all sectors opened higher. the dollar rose to the upper 112 yen after a senior fed official said the u.s. central bank might need to raise interest rates in the near future. on monday the greenback went b below the 112 yen. concerns have eased after the latest polls on the french presidential election show the possibility of far right candidate le pen's victory seem reduced pm. >>> we're seeing gains elsewhere. seoul's kospi is up. austral is up by a third of a percent. china markets will open in under half an hour. >>> the moment the u.s. says it will put a 20% tariff on cars, he will get up from the table. mexico depends on the u.s. for 80% of its exports . the country is ready to negotiate but is strongly opposed to raising tariffs. president tr

toshiba's chairman quit his job today after the company posted a loss.d to shell out for fines incurred in corruption cases in the us and the uk. it had to write down £4.5 billion from currency related contracts. we've had inflation figures outside today. it is at 1.8% for the fourth consecutive month of rises because of the increasing price of fuel. if you have been feeling the hit to your purse when you've been filling up at the petrol pump that's because of the price of fuel hitting a two year high. compensating for that is the price of shoes and clothes, they've fallen. jeremy cooke joins us now. let's start with the inflation figures. so it was 1.6% the previous month and now it is 1.8%, it is creeping up. is it cause for concern and also why is that clothes and shoes aren't getting higher?” and also why is that clothes and shoes aren't getting higher? i think it is cause for concern and we are anticipating inflation to run to about 3% to 3.5% by the end of the year and that's ok if you think that wages are going to continue to rise at that rate, bu

toshiba is looking to raise at least a trillion yen. and they are looking to raise that from the sale of majority stake in its flash memory chip business. pauline is in singapore with more on this. pauline, good to see you. >> good morning, good to see you, louisa. 1 trillion yen would be $8.8 billion, it's more than the $6.3 billion writedown that toshiba has to take for its u.s. nuclear banks. and creditor banks are pressuring toshiba to raise more money, because they're afraid of more write-downs down the pipeline. investors are not warming to this idea. off the back of this news, toshiba corporation ending the session down 1.4%. it's a different story with the nikkei as we saw the pulp and paper sector rallying today. that's after a big paper company announced that it's going to raise printing paper prices for the first time in two years. so we saw the paper and pulp sector up 3.8%. the nikkei up 0.7%. look at what happened with hsbc after it reported its earnings. it ended down on the hang seng by 5%. dragging down the hang seng th

toshiba shares fall farther. we're told it may start talks with additional bidders on selling a stake in the semiconductor business. the states being sold off may be increased. toshiba has plunged ever since it reported a $6.3 billion write-down in its nuclear power business. the sale of one of its most valuable units season shares demoted to the second section of the tokyo stock exchange. shares are lower after the metals and mining firm reported first-half profit. it kept its guidance for 2017 unchanged. underlying profit of $479 million beat the median forecast among analysts estimates. demand for commodities got a boost from chinese stimulus. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. i'm courtney collins. this is bloomberg. ♪ >> thank you so much. there is a drop in fourth-quarter profit as provisions for bad loans surge. correspondent just because numbers last hour. this is the lowest quarterly profit in two years. spot on.dent: the lowest quart

toshiba will hold a board meeting on friday. also an extraordinary meeting to seek approval. to secure the funds for its health. they are aiming to agreement an by june. >> more than 40 brands have been awarded the highest grade. japanese rice growers are eager to get the highest evaluation possible so as to enhance their brand image. officials say that 44 brands are given a special a ranking among 141 types of race produced the last year. that's two fewer than the previous year and the first decline in 7 years. the ranking is based on taste and texture. the rice was rated special for 28 years in a row. he was also in the top category and for the 6th straight year association officials say the taste of rice grown in japan is getting better overall due to improvements in the trains. >>> japan's fishery has been eyeing new markets for sometime now but it's a small wholesaler in western japan that finally took action. >> reporter: a truckload of fish bound for the muslim world. making this happen required a lot of work behind the scenes. he's putting the finishing touches on the

toshiba shares plunged after it released its earnings.y are holding a news conference right now that just started and we will bring you more of that as it continues. china's producer prices increase last month i the most since 2011, rising 6.9% from a year earlier. at the same time, the consumer price index climbed 2.5% boosted by the week long litter new year holiday test lunar new year holiday desk lunar near holiday. global news 24 hours a day, powered by our 2600 journalists and analysts in more than 120 countries. i'm sebastian salek. , you havemark breaking news out of the u.k., i think it is inflation figures. mark: inflation picking up less than economists forecasted in january. clothing store discounts keeping the rates from reaching the bank of england's 2% target so could consumer prices increasing 1.8% from a year earlier compared to 1.6%. anticipated 1.9%. the core rate held steady. sterling coming down on this news. the weaker pound is set to push boe's goalose to the very soon. some forecasting it will hit 3% by the end of

without toshiba, it looks like moorside is over.overnment is romancing the south koreans asking them to buy in to moorside but that seems to be very unlikely and even if that were to succeed it would mean significant delays so what this does essentially is blow a significant hole in the uk government nuclear power strategy. it does look that any nuclear installation, wherever it is in the world, is either over budget and behind schedule or indeed both. that's actually true. finland, in france, china we don't get much concrete news but we understand this is what's going on. it is all but overin is what's going on. it is all but over in the us. this notion of a nuclear rennaissance, that the uk government idea about more nuclear in the uk is based on is largely not really happening. with one exception, the koreans, they are building cheap and cheerful but the problem with that is they're building less safely. for example what they don't have in their reactor is what is a core catcher. without a core catcher it wouldn't get through uk

you guys look at toshiba, a once mighty company, if you will in japan, but it has come undone.egan: one of japan's crown jewels across electronics, across power, etc., and what is so interesting is they had to take this $6 billion write-down based on the business you could describe as something that people don't often associated with the company, and that is building nuclear reactors. actually in the u.s., across the southern united states, power plants have been beset by problems, not finishing on time, a sort of contractor sort of not well equipped to carry out the building of this. it has really hurt the company. it lost $7 billion of its market cap before this was announced. it is a company in trouble right now. oliver: was this specifically a bad bet by toshiba come are they suffering from that kind of sea change in the industry of nuclear power, which is slowing? megan: they went with an outside contractor building this that did not have a lot of experience in that area, and that hurt them in getting this done and meeting deadlines. this move into nuclear power was 2008-2