over the weekend, southern agreeing to take control from toshiba, which limit some liabilities toshibasternips unit digital, is filing for arbitration to slow down the sale. rishaad: they want a say in terms of who it will be sold to. at the end of the day, it is perfectly valid as a request if you are a partner. >> the point toshiba would make is that western digital was not the original partner in that joint venture. they became a partner because they bought sandisk. any consentnot have rights over the sale, so toshiba is saying you cannot argue for rights we never got in the first place. they said in the contract it is clear there are no consent rights either way. haidi: these numbers we have gotten in the last 15 minutes or so, negative shareholder equity, is any of that surprising to you? these are not audited numbers. toshiba has not been able to get its auditors to sign off on its financial reports because they are trying to figure out how deep these troubles are with the westinghouse nuclear business. these numbers are important for a number of reasons, even though they are not

they haven't signed that paperwork according to toshiba, and toshiba says that western digital needs, otherwise they're going to be banned from that. shery: thank you so much. plenty more coming up. this is bloomberg. ♪ >> it is 8:30 a.m. in singapore. a beautiful, clear day. watch out for noble group. moody's has downgraded their rating by two notches. commodities seeing a strong day. i am in new york and you are watching daybreak asia. let's get to first word news. leading companies in japan said they are victims of the global cyber attack. hitachi is among those targeted but sees no major impact on operations. in male delivery has been hit and some files cannot be opened but no ransom has been demanded feud -- demanded. opec nations and independent producers may find little room for maneuvering when they are in the internet week. while prices jumped after saudi -- intond russia jumps next year. analysts are asking whether the outcome of next week's meeting is already priced in. saudi aramco has promoted eight executives to senior positions after it ceased double refining capacity

utility agreed to take control from toshiba, which limits some liabilities toshiba may have as long aslize that deal. at the same time, their partner in the chips unit is -- western digital is filing for arbitration to slow down the sale. >> they want a say in terms of who it will be sold to. you have got to say, at the end of the day, it is a perfectly valid request if you are a partner. >> the points that toshiba would make is that western digital was not its original partner. they became a partner in that joint venture because they bought sandisk, and toshiba did not have any consent rights over that sale, so toshiba is saying you can't argue for rights we never got in the first place and they say that is part of that contract that there were no consent rights in the contract either way. >> japan's three mega banks are rising today despite forecasting a fourth straight fall and in combined annual profit. it comes as the impact of negative interest rates is. -- eases. >> all three banks achieve their full year guidance, down a fraction from a year earlier. the profit forecast for thi

toshiba does not have that much time. the ceo spoke at a press conference yesterday saying selling a majority stake of the memory business poses no conflicts with the agreement and that western digital has no grounds for blocking the procedure. toshiba warned that it may even block western digital employees from accessing the production plant. toshiba needs additional funding of $9 billions this year for capital spending and loan repayment and the main banks extended 70% of that in new credit and is considering whether to offer more. toshiba will become cash strapped unless the memory unit can be sold. toshiba has gone forward with the bid process for the memory unit setting a friday deadline for the second round of bidding among six chipmakers and investors including western digital. that's all from the nikkei. back to you. >> thank you very much. before we wrap up this show, here's another quick look at how u.s. futures are shaping up. a few hours away from the opening of the u.s. markets. looking at a bit of a negative

>> western digital has a joint venture with toshiba.a to make money to plug those losses. western digital is offering the lowest price of anyone out there. shery: there are other rivals to western digital right? >> one of them is a big rival called broadcom. it is offering more money, but western digital does not want them to acquire, so it is doing everything it can to block the sale. it's like there was a marriage and somebody needs more money in the family household. there is a very clear agenda with western digital, but what with the detriment before let's gof it decides to arbitration and try to fight it out for the top dollar? >> it takes a long time to happen, needs billions of dollars to plug those losses made because of the nuclear write-down. it means that if it has negative equity for another year then it stands to be delisted, which it is not too big to fail if it gets delisted. shery: while we are talking about foxconn, what happened to them? reported,at has been they have bedded the highest, but the problem is foxconn boug

but us—based western digital, which jointly runs toshiba's main chip operations in japan, has filed aatinum producer lonmin has reported a first—half operating loss of 140.4 million pounds due to a drop in production and higher costs. this has also led to a 6 per cent fall in the company's liquidity. as a result, the south africa—focused miner is to move its head office from johannesburg to its operations in marikana by the end of the year, and it has also cut its spending plan for the year to a range of 1.4 billion to 1.5 billion rand from 1.8 billion rand. budget airline airasia has signed a joint venture agreement to set up a new low—cost carrier in china. it says it wants to tap in to demand in the country, which is set to overtake the us to become the world's biggest aviation market within the next decade. flying domestically within china has boomed in the past 30 to 40 years, civil aviation administration of china figures suggest that in 1982 there were fewer than four million air passenger journeys within the country. by 2016, that number had reached 487 million. japanese carma

toshiba is like day to day as to if that i'm run out of money.igantic company. >> that's a story we'll be following here. we have the different parties -- >> bigger than whatever is happening right now, with things in our country. >> let's get back to retail. chico's we didn't mention. a small company, over a billion dollars. >> it used to be a big company up. minus 8.7 domestic same store, but what people want to know, this is white house black market. david, is there a mall in the world that does not have a white house black market and is there a mall in the world that is in the white house black market. >> what is a white house black market? >> i bought my wife something there once. >> so it has nothing to do with the white house in washington, d.c.? >> no, no, it does not. a very good -- yeah. and yeah. >> nothing to do with ivanka? >> no, no. just a regular store. but it is the challenge kind of store -- not unlike ka sena. it has 4,800 stores. another horrendous store, that's dress barn, lane bryant, ann taylor. and then of course, maurice.

looking at some of the movers today, western digital and toshiba, this is toshiba u.s. shares which rosen japanese trading. trading.n japanese some of the japanese new services reporting late yesterday that western digital and toshiba's ceo's would meet to resolve the differences over unit and other sources saying western digital offered to buy the unit for almost $18 billion. western digital shares rising on hopes their conflict is coming to a close. watching the u.s. solar companies, irony that, even though, going into the election and postelection, the trump administration would not be friendly to this industry. however, the government opening an investigation into whether american solar paneling manufacturers are being hurt by cheap imports which raises potential some kind of protectionism for the industry. ja solar not rising but first solar and sunflower on the rise. the issue of volatility. vix this year has traded an average 11.85, that would mean his lowest average price in one year ever. to be short we are not halfway through the year, none the less, when we t

more on toshiba's chip unit, the government-backed investment fund. to different headlines from two different sources, the nikkei reporting it is considering teaming up with western digital over the bidding for the toshiba chips unit. the other is saying the fund is unlikely to decide on this plan for toshiba by tomorrow, which had been expected according to some reports. we will have more on this story later on " daybreak: asia." it looks like it is considering bidding for the chips in it with western digital -- chips unit with western digital. a quick check of other business flash headlines we are watching. it has reported a 38% fall in fourth-quarter profit on rising wage costs. net income declined to $420 million. that is the fourth quarter in a row of falling profit. costs rose 18% while growing competition from energy sources such as solar and wind prevented the company from raising prices. competition and $7 billion in debt are catching up with reliance communications. the stock fell to a record low amid failing to meet obligations. the wireles

morgan and has reaffirmed plans for ¥1 trillion in m&a. 3.7% -- toshiba corp. their. you so much. sophie kamaruddin there. we are in the thick of trade monday morning. steady as she goes, that's what we are likely to get in the latest batch of monthly economic numbers from china this morning. get april retail sales, our retail sales were on friday. industrial production and fixed asset urban investment, what will stand out and what will surprise? main indicators for april, and what we have seen is that higher than expected gdp growth in the first quarter, 6.9%, allowing authorities to continue to contain risks in the economy like over leverage and excess industrial capacity. later this morning, we will look at whether that first quarter the peak and we will see a slight deceleration from here on out with many economists saying we are likely to see that. retail sales, march was 10.9% growth, matching the highest percentage growth in a year. 10.8%, so was for steady as she goes, but a slight deceleration in the pace of growth, so we will be watching that one clos

toshiba says it will use all available remedies if western digital continues to pursue the complainty harassed at fox news has asked uk media regulators to block 21st century fox's planned purchase of sky. 0fcom is examining the bid for the uk broadcaster, which is worth around $15 billion. dr wendy walsh's legal team says the deal would allow fox to bring a "culture of sexual and racial harassment" to the uk. the company says it has addressed the allegations and made fundamental changes. the international monetary fund has raised its growth forecast for the asia pacific region to 5.5 percent from its previous 0ctober forecast of 5.4%. but the imf also warned that the near—term outlook for the region is "clouded with significant uncertainty". in a report, the fund said medium—term growth faced difficulties from a slowdown in productivity growth in both advanced economies and china. we are going to talk attack. —— talk tech. alipay, china's biggest online payments platform, is stepping up its global expansion with a major foray into north america — the home of paypal and applepay. lei

angie: toshiba disputing claims in the u.s.r breach of contract. scana says westinghouse is liable for up to 25% of payments it has received does lead contractor. the disagreement comes as toshiba and scana try to negotiate a plan for finishing the project. talks toetjet is in become the country's first company to list its shares abroad. vietjet says it has been approached by london, hong kong, and singapore, and will meet officials in new york later this week. annoyed recently ease the rules on investment and received shareholder approval to boost its foreign ownership limit to 49% from 32%. we have been approached by some foreign stock exchanges, including london, hong kong, and singapore, and have expressed interest in our stock. we don't want to hide our hope to become the first vietnamese company to list shares overseas. angie: let's get back to the markets. greeting theokyo latest north korean missile with the equivalent of a shrug. shery: like who cares, basically, but we are talking not only about south korea and the to

toshiba slumped at the open as its dispute with western digital turns bitter. toshiba wants to block their partner from the flash memory sections of their share. western digital invoked an arbitration clause in the agreement which could postpone a sale. westernplans to buy digital workers from the chip facilities in japan. venture agreement stipulates that a partner does not lead to seek permission from the other to transfer the odd -- other for a third-party. western digital did not seek our consent on the sandisk acquisition. we will make an effort to see potential bidders, but the sale is not in violation of agreements. paul: he touched she is rising despite admitting it was among the japanese victims of the global cyber attack. says email deliveries have been hit and some files can't be opened, although no ransom has been demanded, and it has seen no major impact on operations. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i'm paul allen. this is bloomberg. that. thank you for china has added to i

toshiba has been waiting for a bid that has been cut to a field of five groups.ent wants a homegrown did. $500e: softbank leading a million investment in improbable world and one of the largest vc deals in the u.k. in the last decade. virtualle world creates scenarios for gaming and massive scale simulation. and others ares also committing new funds. today despiteng the higher cost of fuel, imported oil, the cost will average $55 a barrel, up from $47.50 in the previous timeframe. tepco says it hopes to fire up a nuclear plant within two years. hong kong securities regulator is questioned the ownership structure of the city's dominant free to air broadcaster, saying tvb may be tycoony a chinese media rather than a hong kong resident as required by law. rishaad: it is quite something. they were doing their job, one day? it is incredible what they found. >> what they found is that the holding company that holds tvb is not controlled by the chairman, the local businessman. rishaad: it has to be somebody from hong kong. >> a hong kong broadcaster can only be owned by

toshiba falling quite sharply, closing by 12% in tokyo.ura recommendations amid dispute concerns over its memory chip business. having a look at another stock, tencent has been on a tear, coming out with earnings tomorrow. if you take a look at this chart, we are seeing quite a few bearish positions coming through. from ubs saying it is typical short-term trading ahead of the release of earnings. we are expecting 10 sent to post a 44% increase in quarterly revenue. this is a stock that has hit record highs and lifted the overall hang seng index. manus: thank you very much. breaking news coming through from hsbc. they are going to issue some perpetual contingent convertible securities,, security is used by a lot of the banks. billion, assue $3 six pe 6% contingent convertible. so you've got this capital relief, the others are doing right, looks like hsbc has gone for $3 million. anna: the conversation around the earnings of story was about the pace at which they will invest in the business. this was a slightly different tack. let's return t

western digital is reportedly planning and $18 billion offer for toshiba's memory chip unit, which is much lower than other offers. global news, 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i am ramy inocencio. this is bloomberg. yvonne. yvonne: thank you. vietnam potpie minister is set to meet president trump this week. an exclusive interview with him on what he is effecting to bring back from washington, coming up. betty: up next, making a case for the economy and rate hikes. we will sit down for an exclusive interview with the st. louis fed president. his thoughts on the plans to reduce the balance sheet and how many rate hikes do we really need here in the u.s.? this is bloomberg. ♪ betty: this is daybreak asia. i am betty liu in new york. yvonne: i am yvonne man in hong kong. bmw is said to halt car production in china and south africa for at least one day as it grapples with a shortage of steering parts. production at the plant has been suspended since friday. the facility in unit has been affected. thes being reported that probl

conflicting reports from japan concerning to she be a -- concerning toshiba. inspecting them the following week on may 22. kyoto said toshiba is having trouble securing a new auditor by the end of june, when it is required to release earnings. the ceo is said to be flying to japan for talks on a bid on toshiba's chips unit. betty: another company we are watching his mitsubishi. is open in a few minutes. let us bring in sophie kamaruddin, who is watching that stock and the opening of the major markets. sophie. sophie:betty, -- mitsubishi is said to report at midday, followed by mitsubishi motors this afternoon. following the news lines that you and yvonne just mentioned, we are keeping an eye on toshiba in tokyo along with crown resorts in sydney as this can casino operator is said to do the joint venture. the largest bank on the radar after its latest earnings update. asian equity futures are pointing higher here after the stocks on wall street into tire and the yen is back above 113. that is a brief look at what we will be watching when trading ♪ yvonne: -- b

in other business news, western digital is seeking international arbitration to stop toshiba from sellinge two companies maintained their largest facilities. the cash bonus could be a boost for tissue. the japanese company has warned of a net loss of around $8 billion us, due to its bankrupt us nuclear business. the manual macron has called for a reconstruction of europe, following talks with the german chancellor in berlin. on his first foreign trip as president, emmanuel macron said that he would agree to draw a roadmap to changes to the european union. the two lea d e rs changes to the european union. the two leaders stressed the need to deepen integration in the eurozone, and said they would be to change treaties is necessary. gruber has been told to return thousands of files downloaded and taken from a self driving car division. —— uber. gruber has been sued over claims that trade secrets were stolen that we use by rival. from right hailing apps to mobile phone sats, and their usage has been on the rise in asia. fewer a re usage has been on the rise in asia. fewer are making trips to

a story we are watching, the massive legal spat between toshiba and western digital over the sale of memory chip business is getting even more compensated. toshiba sent a letter to western digital saying it is moving assets from the joint venture back to the parent company after previously transferring them to a subsidiary in preparation for the sale. it became clear the operations may fall into the hands of competitors. coming up, after the firing. we are taking a look at alphabet's waymo and where it stands in the crowded driverless car race. a reminder about our new interactive tv function. on thet at tv bloomberg. you can watch us live. you can send our producers a message. you can ask me a question. you can play along with the charts we show you on air. this is for bloomberg subscribers only. this is bloomberg. ♪ emily: former hedge fund manager phil falcone was barred by the sec in 2012. now he is back and putting his money to work. he sits down with bloomberg's and loop -- betty liu discusses how private equity stacks up against the hedge fund world. phil: when looking at

. >>> and toshiba says it could be some time before the audited results of 016 are completed.hey are hold ra share meeting on june 28th. >>> united airlines is underfire. the faa is threatening to fine the airlines almost $500,000 for flying a plane not in airworthy condition. the faa claims that the boeing dreamliner was flown 23 times do be domestically before performing the services. >>> deutsche bank was fined for anti-money laundering lapses. the u.s. fed is fining them $41 million for failing to ensure systems would detect money laundering regulations. >>> shares of apollo commercial real estate are taking a hit. the investment trust offering common stock to meet target assets. >>> perrigo reporting better than expected earnings. the guidance brackets was in line with current wall street consensus. >>> among the top corporate stories, a shake up at uber. landon dowd by hy has been trac this saga. >> the former google engineer at center of google's lawsuit over alphabet is out. levandowski was fired yesterday. uber has been pressing leva flshgs dlevandow levandowski was u

an update on toshiba's sales of its chip unit.roadcom at a private group are emerging as the two leading bidders. the talks are still fluid. toshiba may not decide on a buyer before the shareholder meeting scheduled for june. coming up, another day, another pure nightmare for uber -- p.r. nightmare for uber. details now. "bloomberg technology" is live streaming on twitter. check us out. this is bloomberg. ♪ emily: bitcoin continues its record run. it crossed $1900 for the first time marking its fifth day of gains. bitcoin has more than doubled in value since the beginning of the year amid global uncertainty and increased interest in asia. skeptics have said there may be a bubble in the making as it has repeatedly broken records without showing any signs of slowing. another week, another problem for uber. drivers are voicing their anger over the widening gap between what they are paid and customers are charged, this on top of new developments in the start of's court battle with waymo. we are joined by eric newcomer who has been bus

toshiba is selling its chipmaking arm to try to recover from billions in losses and has bankrupt the newly the bankrupt the u.s. nuclear unit. thermo is the largest scientific instrument maker and trial services is looking to consolidate its position as a top to bottom contractor maker. and international monetary fund has called on germany to spend more on infrastructure and social services. growth pointed to more potential, despite strong results in recent years. it also called for pension reforms for making working germansore track if for -- more attractive for germans as it ages. to the moste -- orate and interesting it is called the world's most luxury car vending machine. the showroom was opened in december pulled touchscreen is used -- in december. of the machchine will takee ones expensive vending machine. >> thank you very much indeed. taking a short break. 05/15/17 05/15/17 [captioning made possible by democracy now!] amy: from san francisco this is , democracy now! >> recording devices in the oval office? >> there's nothing further to add. >> does he think it is appropriate

toshiba is escalating the battle with its joint venture partner.digital employees from the unit the jacoby share. the reason, western digital has invoked an arbitration clause fromcould keep toshiba selling its chip unit. toshiba needs to sell the business because of massive losses in its nuclear power unit. that is your bloomberg business flash. may 3, george will and the washington post wrote a brilliant op-ed about the thinking of our president. we have on bloomberg view this morning, and absolute must-read. i will put this out on twitter five or six times a day. this is spectacular from the science writer. let's get to it -- tom: it is really being talked about with our president. is our chief washington correspondent. kevin, let's go to the day. our we going to see a new fbi director today? kevin: we will see it sometime this week. whether or not president trump decides to name whoever he is going to a point to the fbi remains to be seen, but i can tell you the pressure is now in the senate for there to be some type of quick resolution to what

we did see a stronger yen which hurt some of its bigger exporters, like sony and toshiba.ang seng in hang sshanghai clo higher, up 0. 1%. germany showing they're outperforming growth that we're seeing here state side. german dax french equities flat as well. ftse 100 higher by 0.2%. we'll get to the pound in a second. >> for the week as a whole, the ftse up a percent. germany's basically flat. asia has been softer for the week as a whole. apart from one market, the south korean market. >> record highs. >> some 4% for the week after the election of president moon. other asset classes, oil prices have been important in recent weeks. this woke they are eek they are. they have softened a bit today, but curbed that fall from the prior couple of weeks and climbing back close to 50. just shy of 48 this morning. dollar board for you, also curbed a recent decline. this will be the first positive week for the dollar index in five. up about a percent the broader index this week. the euro touched nearly 110 after the french election. at 10 8.65. given up some gains. the dollar a littl

having a look at the stocks in the region, toshiba rising in hitting out at western digital with plans to sell memory chip business. third-quarter numbers hit my that report of a $4.4 billion levy. cba's third-quarter profit was ok. this is a power stock in hong kong, up by almost 15% on reports of a mega power merger lifting coal generated stocks. the aussie budget is being handed down soon. we are actually seeing the bond bullish, outperforming the likes of norway. purple is canada, pink is u.s. we are seeing quite a lot of steepening of these curves on concern there could be a fiscal budget spending blowout from the turnbull government, if australia tries to ramp up infrastructure spending. anna: juliette, thank you. juliette saly from hong kong. we had earnings from comments earlier, let's break them down with matt miller, who joins us from frankfurt. great to see you. talk is the numbers. what are the key takeaways. the bottom line is one of them . matt: yeah, not just beating on the bottom line but reading the highest estimate in our survey of analysts. beating on that income and

toshiba may shell a nuclear project in the united kingdom, .mid warnings and spending cuts staff may be asked to return to their employers. previouslyal times reported that toshiba had been facing pressure to secure financing to support a british nuclear project. inbal news 24 hours a day more than 120 countries, this is bloomberg. taking a look at the markets trading today, gains in australia. up by 0.4%.25 this is bloomberg. >> you came from modest circumstances. very few people in the world are known by one name. you are a shareholder in weight watchers. thought you could actually run for president. thinking, [laughter] me.eople would recognize i do not consider myself a journalist to nobody else would consider myself a journalist and i began to take on the life of being an interviewer, even though i have a day job running a private equity firm. how do you define leadership? what is it that makes somebody tick? oprah: between coventry. hello. david: the live audience does not intimidate you, right? >> [laughter] oprah: not a bit. i feel right at home, actually. it is the one thing

toshiba is selling assets after saw losses.plunged after the admitted many channels have been moved to a higher tier of service. new charter subscribers can only have channels like nickelodeon and comedy central if they pay for the most expensive package. it could reduce viacom's subscriptions. betty: a chinese smartphone maker aims to clots way back to the top eye teaming up with the government -- by teaming up with the government -- to claw its way back to the top by teaming up with the government. there was a time they were considered the top smartphone maker and then they branched out to all these other kinds of products. serious now getting about being a top smartphone maker? >> it's hard to say. smartphones are always the entry a broad ecosystem strategy. otherwise, the valuation would never be close to $45 billion. they are trying to invest in to advance how popular their phones are in the market, but there is some stiff competition. largely due to samsung kicking itself in the but with the samsung note 7 debacle. apple

toshiba retained the rest. take theay they would investment through a special company.id a management to avoid antitrust concerns. raisedndia start up has -- the largest amount of money from indian tech history. they will use the money to grow its user a's and offer financial services. they will join alibaba as a major shareholder on the paytm board. in bloomberg markets asia, we will speak to the ceo and founder of paytm at 10:10 in hong kong. 10 after 10:00 in the evening in new york. yvonne: sourcing in india from $660 million area -- million. they have broken ground on the outlet in dubai with a goal of 25 stores by 2025. the first ikea india store was slated to open at the end of this year. trump hasident categorically denied doing anything to war and talk of impeachment, having started the day complaining he is the victim of a "witch hunt." kathleen, what can we read into the president's tweets, or take it as we see it? kathleen: it is clear what donald trump is saying. it started out with these tweets were donald trump feels like he is a victim. at the tweet that

toshiba is trying to sidestep digital -- western digital's sale to the flash memory chip business.bsidiary back to the parent company. spacex is taking recycling to the final frontier. space itself. dragon cargore a ship that has made the journey. this capsule flew to the iss in toy 14. spacex has refurbished it for thursday's launch. most of it has been an space including the frame. spacex says it is always reusing parts but always -- not to this extent. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i am paul allen. this is bloomberg. president trump is deciding whether to dump the accord on climate change. the odds seem to be that he will on wednesday. the president confirmed we will be getting a decision over the next few days. this.us up to speed on a lot of ceos has said do not do this. >> a lot of ceos including elon musk, apple as well as exxon. -- and saying this is not a good idea for businesses as well as the u.s. hitting us up to speed on the political side of things according to two people familiar with the ma

and toshiba in japan is considering delaying the buying process for its memory chip unit.next month or even july with toshiba a bid froml awaiting japan. they are teamed with a number of companies. the government wants a homegrown bid. and a half billion investment -- in a $500 million investment london. we areeated virtual -- also committing new funds. softbank shares are down about 1% right now. let's look at market trading here in the asia-pacific. on this friday morning, there is a bit of a downside when it comes to stocks. nikkei 225 down .4%. reaction leading up to the u.s. as we wait for inflation data coming up, a very long and big week for potential sales. popping as much as it percent right now. -- the asx 200, down a little bit as well. coming up next, this leaves governors -- forecaster scratching your head over this forecast. betty: happy friday, cloudy on this friday morning. a: 30 in atlantic city right now, -- yvonne: i'm yvonne man in hong kong. betty: and i'm betty liu in new york. >> china said to be ready to support the hong kong stock market to create

toshiba on the rise today amid the much delayed earnings report.dition that further investigation is carried out into the problems of toshiba's units. these days families want to be connected 24/7. that's why at comcast, we're always working to make our services more reliable. with technology that can update itself. and advanced fiber network infrastructure. new, more reliable equipment for your home. and a new culture built around customer service. it all adds up to our most reliable network ever. one that keeps you connected to what matters most. yvonne: a call and 30 in singapore on this thursday morning. kind of a gloomy picture. i'm betty liu in new york. you're watching daybreak asia. let's get to the first word news now. >> first we look to washington administrationp may struggle to find a replacement for fbi director james comey who is acceptable to congress and bureau staff. several fbi staff have replaced 's.ir photos with comey attorney general jeff sessions and other spent wednesday reviewing candidates for an interim basis. more and sa

the nikkei news says bain may bid for toshiba chips.id a management role to prevent antitrust concerns. rishaad: unusual signs with a rally,shares leading leaving mainland peers behind. what should we make of all this? hong kong exchange chairman, good to see you. what is going on here? withu would have thought the shanghai stock connect that pricing and the differential and pricing gap would close. obviously it takes time to work to the system, and i guess it oldalso be a question of economy shares as opposed to new economy shares. rishaad: how much does the deleveraging story play out and all this, capital controls and all that, and this general clampdown on leverage in china? >> that is part of it. that said, we do have a big in novembere 19th , so i suspect if there is any deleveraging, it would be tempered with a lot of caution. rishaad: i'm going to bring up this chart that shows this diversions, and we have this premium of h-shares over a-shares, when it used to be the other way around. this is also dividends. so what gives? how

toshiba and western digital are meeting on wednesday to resolve their dispute over the flash memory chip western digital is ready to make concessions in order to retain its share of the operation. westinghouse creditors have dropped their opposition to a final bankruptcy loan, clearing the way for to receive $450 million to keep operating. sony's consumer electronics division now enjoys a dominant role when it comes to the gaming sector. the ceo told sony investor relations day that movies remain a hugely important part of the overall business. >> the picture segment remains an important business persona and we are increasing the urgency with which we implement measures to improve the pictures business. senior equities analyst at jefferies was at the event in tokyo and joins us now. take us through what the takeaways were. >> thank you. threeit of context, we years back, we used to be very skeptical three years back in february 2014. we upgraded sony when they exited pc and the other consumer electronics business started to shrink. they were focusing on streaming, games, movies, and musi

toshiba making headlines, this time turning down bids for its energy-technology units.ng to get a higher price at auction. tohiba is selling assets avert bankruptcy because of its westinghouse nuclear business, which may result in a full year loss of ¥1 trillion. the eyes of the aviation world on shanghai, specifically china's first domestically designed and built passenger plane. it is a proud moment for beijing, but the comac c919 owes a lot to the outside world. says that gives potential buyers a sense of assurance. great to have you. 15 westernn suppliers were used to build this plane, so can we call it made in china? >> you are right. this is questionable. the key thing to focus on is that the iron ore has developed --comac c919 has developed a strategy for tried and tested technologies, engines, and components, and this should give comfortine buyers more in terms of quality assurance familiarwhat they are with in terms of the future a craft maintenance of the comac c919, it should not be different from what they are used to. i want to get your views on the delays

yvonne: westinghouse says potential buyers have expressed interest in toshiba's majority stake, and theegin in a late summer. it isterim ceo said still too early. toshiba put westinghouse into bankruptcy and has warned the company may not be able to survive as a going concern because of enormous losses. betty: markets have been trading for about 30 minutes in japan and south korea and australia. you can see the nikkei slightly lower, as futures had indicated it would open a bit softer. the south korean market still gaining some ground to new highs, up .10%. he s&p asx 200 in sydney down about .2%. yvonne: plenty more to look into, including the fed minutes and opec meeting. up next, facing a dilemma while the u.s. job market is doing well, prices are not rising fast enough. the rate hike debate, coming up next. this is bloomberg. ♪ in singapore,:30 half an hour away from trading. gdp opp from singapore -- gdp out, missing estimates. consumption here likely when on this export brash -- likely weighing on the export from the city. a little bit of a whimper for the lion city. i am betty li

misfortune and mismanagement, toshiba has warned of the ability to continue as a growing concern. ,hreateneddelisting there was a net loss through march. the results came out without twc's approval. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. i am sophie kamaruddin with a check on the market -- markets. kospi leading gainers. and hangh the topix seng. focus,rket very much in given the premier is set to meet trump this week in d.c. three-dayy from the weekend, swinging into the red after it was spurred by the pmi data out of china today. we have on short yuan headed for the highest close since november. offshore rates reversing at the pboc's stronger fixing. in the commodities space, iron or leading the drop in base metal. continuing to climb. u.s. treasuring heading back some of tuesday's gains. checking in on the currency matrix, on your terminal, the yen at 111.10. the pound dropping for the first time in a week. amid tightening higher rates ongher that space. this has sparked a rise in chinese bond yields. i

ar is in talks to make preemptive bid for toshiba's memory business. has indicated it would pay at least $16 billion. haveprices in the u.k. faced a quarterly decline for in years.time -- the changeover is costing southwest over $500 million. that is your bloomberg business flash it >> joining us from -- oliverya much out michelle -- >> that is true. very strong sentiment of optimism in france this morning. the outcome was good news for economy andin the europe as well. >> we've seen countries take big pushes to achieve reform. the british did it in the 1980's. talk to me about how long it takes to implement the reforms and really generate the fruits of our labor. only talking years, five years, decades? -- are we talking years, five years, decades? if you look back at the -- ple of germany that managed to turn around at the levelut it of economic health every know today. >> when you are talking to clients and advised leaders on marketing, how do they feel about this? ?o they feel populism is dead what is the feeling incorporates right now. >> well, to

at odds with toshiba. now there is a bid in for memory. $17.8 billion on top of their sandisk.you look at the p/e level at 52-week highs is still an inexpensive stock. i own it. >> do you have a final trade? >> i do. halliburton. you heard me talk about it earlier today. our analyst has a $67 price target that's 40% higher than here. i put my money on it. based on the comments from the coo we think they will continue to perform in second half in 2018 earnings will be sharply higher. >> let me get a couple of quick stocks that are hitting 52-week highs or even more further out. int intuit highest level since the ipo, 93. >> they beat on top and bottom line. they guided higher, judge. unusual activity yesterday. huge upside. the stock has exploded. >> what the ceo said about how many people are doing their own tax returns on mobile. this platform keeps growing and growing. all-time high in '84. anybody have a quick comment on that? >> it's semiconductor equipment. >> thanks. "power lunch." >> thanks, scott. i'm melissa lee. home prices are rising. home sales are rising overall bu

toshiba corp..5% after reports it may seek buyers for its westinghouse unit as early as this all according to the ceo of that unit, and then elsewhere , china everbright also doing well after we saw morgan stanley rate china ever grand at overweight. emily: this is "bloomberg technology." i'm emily chang. former cia director john brennan testified before the house intelligence committee tuesday. for the first time, he publicly said he was concerned about possible ties between russia and the trump campaign, saying that russia "brazenly interfered" in u.s. elections, including actively contacting members of the campaign. he stopped shy of calling it "collusion." he also says he's concerned over reports that president trump shared classified information with the russians on may 10 in the oval office. >> i don't know what was shared or said in the oval office, but if the reports in the press are true that mr. trump decided to spontaneously share intelligence with the russians, i think he would have vio

. >>> and western digital is taking actions to prevent toshiba from selling its chip arm.intendo is reportedly offering its legend of zelda game for smartphones. looking to expand its mobile game lineup. >>> bhp drops the billiton in rebranding it. to change its corporate structure. >>> and australia's fairfax media receiving a proposal from tpg consortium. tpg sending sales to six-month high. you 6%. >>> gold producer el dorado looking to buy the remaining shares of integra gold in an eastern region of canada. >>> and deutsche bank making calls in the coach. downgrading jcpenney and michael kors to hold. really, jcpenney down about a percent. >>> in tech news, lyft is teaming up with car developer waymo to develop a program. waymo has some of the most advanced technology out there. and it just started testing cars in phoenix, arizona. lyft offers ride sharing in 300 cities. the exclusive will continue to work with self-driving programs with a major investor in that company. >>> we're learning more about which high profile investors bought into snap which went public in ma

toshiba once to block his partner from a memory venture they share after threats of legal action.ration clause which could postpone a sale. plans to bar western digital workers from its chip facilities in central japan. as that adding sharpe's name to the pursuit raise concerns about the technology going abroad. sharp is said to be seeking -- raise concerns about the technology-- a partial stake ine profitable unit. european union governors have their brexit negotiation positions as they prepare for first talks with the u.k.. trapped of documents show a tougher stance and specific demands on citizens rights and the role of european courts. german chancellor angela merkel and french president emmanuel relation,t a deeper but also reform. has named Édouard philippe as french prime minister, charged with joining the economic and social changes france needs. the rest of the government will be announced later tuesday, expected to be a mix of ,moderates, centrist and left wing individuals. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 cou

. >>> shares of toshiba jump 8% on western digital is offering $18 billion to buy the memory chip business> intuit reporting better than expected results. the company raising its full-year guidance following a hard-fought tax season. the strong results come amid that companies could be hurt by president trump's proposal to simplify the tax code. >>> shares of container store, its earnings beat by a wide mar jet. they included a restructuring plan which include layoffs at stores. the market cap around 2$200 million. >>> the fda has approved merck's drug to treat cancer in adults and children who carry specific genetic traits. the drug was previously approved to treat head and neck companieses. >>> shares of universal health services are lower on reports that the fbi launched probes into the hospital operator. buzzfeed is looking into whether the hospital kept patients for as long as insurance would cover them rather than medical need. >>> a new york state appeals court has ruled common mobile mu exxonmobil must turn over records about how long it knew about global warning. again, no real mo

in terms of stocks we are watching, toshiba has come out.e know it is trying to sell its chip unit, but it says today that without that sale, its for your net worth will be ¥540 billion. tpgey on a tear after offered a full cash share of an australian company. this is a 12% premium from friday's close. noble group continuing to plummet. it had a 30% plunge on thursday, another 20% on friday. most analysts are saying this company probably won't be able to turn around profit in the next few years. the industrial production data coming through out of china, a fairly simple graph. the blue line here is showing the weakness coming through in terms of what we are expecting from industrial production, retail sales flat in the month. all of this is signaling what a lot of economists have been telling us. we had a quote today coming through securities in hong kong, saying it sends the same message that the economy slowed down sharply in april. manus: juliette, thank you very much. let's shift along now. we have had this unrivaled global cyber attack,

toshiba's with western digital moved to a new level. action threatens the workers stands in the japanese venture. betty: more