inflation has abated energy costs coming off a bit in the last set of data >>> toshiba shares surged after green light capital revealed it bought a stake in the struggling electronics giant. for more, makiko utsuda joins us >> toshiba shares finished up over 19% an green light capital announced it had bought a significant stake in toshiba during the second quarter it's unknown how much the fund has invested, but the price was at 234 yen per share, and the fund says toshiba shares could be worth 70% more. toshiba suffered a massive write down from its ailing nuclear power business and is seeking to sell its prized memory chip unit to get the fund foors tus for a turnaround talks have made little progress. at a hearing on friday, the court postponed a decision on whether to grant an injunction to block the sale. the news was expected to trigger a plunge in stocks today which is the first trading day this week, but the news from green light helped to turn the tide. it's not the first time toshiba stocks have been helped by a hedge fund earlier this year, a 10% stake was bought in toshib

here is another twist in the battle for toshiba's business.emporary us court order has been granted to give access to toshiba's databases and chip samples. toshiba had earlier threatened to stop a company from having access, because it wants to block the sale of its chip business toa block the sale of its chip business to a japanese government linked consortium. staying in japan, to a japanese government linked consortium. staying injapan, takata is reporting 3 billion more airbags in the united states. around 46 million have already been recalled, the largest in history. the defective product is linked to 17 deaths and more than 180 injuries worldwide. takata filed for ba n kru ptcy worldwide. takata filed for bankruptcy protection last month. china is set to become the world's biggest aviation market over the next few decades, and it is already ona next few decades, and it is already on a buying spree. boeing china airlines will spend $1 trillion buying airlines, notjust blowing ones, over the next 20 years, but will china's infrastructure b

what does this mean for toshiba?toshiba story. there was a lot of attention on this ruling on friday california time, but we had reporters in tokyo saturday morning monitoring it closely. get a in, we did not clear indication either way. both western digital and toshiba came out afterwards saying this is looking ok for us. they both tried to put a good spin on it. deal is wens for the have to wait until july 28. it is still upat in the air whether california has jurisdiction over this at all. western digital is based in san jose, which is why it filed with the court their, but toshiba's main factory is in japan. theoes sell chips all over world, but whether california has any jurisdiction, i don't think anybody knows yet. if the ruling goes against toshiba, i don't know if that means anything. i think the parties involved do want to see how that plays out. they are not completely ignoring it, so it means more chapters in the toshiba story. david: and perhaps another addition, we had a report that wantnix in the mix n

betty: toshiba looking for $2.5 billion for its unit. they own with incj. several options they may use to raise the cash they need formal trade million dollar losses. they begin trading in zurich on july 21. plenty more to come. the major market open his moments away. yvonne: we have janet yellen's testimony, which came out more dovish. sophia kamaruddin watching openings in japan, korea, australia. >> it is a risk on session. futures in asia, look at the track, the rally we saw and wall street. a softer dollar and falling treasury yields into that session. it is not going to be all about

toshiba doing well. the biggest jump since february, we saw u.s.ight an ounce it had snapped up some of the toshiba stake. also, talking about the china , you can seerices that even though we did see home prices rise in 60 out of 70 cities, it has been an impact to property curves on the big-name cities of beijing, shane jim -- shanghai, represented here. we saw home prices in beijing -- 4.1%.by .4 a little reprieve policymakers trying to rein in rising property prices and those top-tier cities. manus: juliette, thank you very much. president trump's obama replacement is dead for now after a further two republicans sedated their opposition. mcconnell abandoned efforts to pass the new bill. anna: instead, he will seek a vote on a simple repeal delayed by two years to get lawmakers a time to find an alternative. failing to replace obamacare would be the biggest defeat of the trump administration since the election. treasury yields fell. manus: are strategist for the obamacare, thel nuclear option, this is -- has popped sedan -- consequences for the f

is coming out about the san francisco court has no jurisdiction over toshiba.ern digital sale that is being -- there is anow court injunction being fought. toshiba saying that could have irreparable injury on us and that any transaction, the one with incj and being will not close until early 2018. all of these are crossing the bloomberg terminal wire right troublehe heels of that with western digital launching campaign to disrupt that bidding process there. yousef: major story there. let's get our view is -- viewers a preview of what is still to come on "bloomberg markets: middle east." the gulf crisis is bringing turkey and qatar crisis closer. how much is there support impacting the potential for a resolution? this is bloomberg. ♪ put your trading hat on, this is what is in focus. bought medical services 5% in the last trading day. the biggest the client since last year. at thetake a look two-week chart, the stock climb is around 12% in the previous two session. it is set to get a boost from the recent move by the msci to to the did tell -- tadawul on the wat

. >> toshiba raising money by listing a nuclear unit.id the first step towards an ipo may be made this week, although toshiba is still discussing whether a straight sale would be preferential. hong kong's richest men betting on a commodity that has been on the skids for five years. doubling a stake in canadian uranium exploration next gin energy. shares rose after the announcement of the investment. deal means li ka-shing and his son can appoint one of the next board members. >> up next, the luxury shoemaker once more customers in china. the ceo tells us the steps he is taking to get there. this is bloomberg. ♪ these days families want to be connected 24/7. that's why at comcast we're continuing to make our services more reliable than ever. like technology that can update itself. an advanced fiber-network infrustructure. 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: 7:30 a.m. monday i

to give a dependent on toshiba's annual report.ial troubles for toshiba. yvonne: opec is still pumping have our energy editor with us from san francisco. nigeria has signaled its willing to cap production to ease the global oil glut. we had to draw down it inventories here. what has the response been for the market? signal they are willing to cap their oil production in the market basically didn't do anything on that news. the reason for that is probably because bacteria has said it is willing to cap its production at a level that is higher than its current output. so if anything, that gives it more room to grow, not shrink, and that's not exactly a bullish signal for the market. bullishs there any real news at all out there for oil? >> i wish i had better news for the oil bulls out there. unfortunately, even the good news sounds like not good news. earlier, youioned had the u.s. government put out a report to show that inventories of oil dropped by the most since september. while prices rose, they still failed to break above that

toshiba slumping as a california judge rules western digital can try to stop the chip sale.etail sales out of japan miss testaments. the boj admitting the 2% target will take longer than thought. haidi: further and further away. i am haidi lun in sydney. more bad news for noble group, bankruptcy may be the only way forward. this is "bloomberg markets: asia." ♪ david: it has been quite a week. i know we will be talking about the japan data in a moment. , ae a look at my chart simple look at household spending in china. year on year change, a longer-term look because this tends to be a volatile number. what you are seeing is more red than green. in other words, we talk about a demographic problem in japan. despite what they are doing, there is an underlying current that prevents this from spiking backup. this bike is the frontloading before the sales tax. here is your base effect. are come up for the first time since 2016, not bad. full and slowly is the best way to describe this. haidi: it still feels like they are trying to shake off that sales tax implementation. the takeaw

toshiba is considering a public offering in switzerland.ssets that tries to make up a multibillion-dollar losses. company says an ipo is one of several options on the table and the sale of the business remains an alternative. that's your bloomberg business flash. guy: quick look at the markets. a little bit of momentum behind them. you are going to see light liquidity today, u.s. is effectively only their have a session. it's continuing a very good run, total looks solid. but the oil sector is trading high this market. total, bp, shell all trading up this morning. well, the are doing miners are doing ok. it's basically the commodities stocks plus banks in europe that are providing the upside trajectory this morning. certainly from an index point of view. downside, quick look at that. christian dior on the downside. described, the video as a juvenile and far below the dignity of his office. we will discuss the ongoing feud between the president and the news media and what it means for tax reform and fixed income. this is bloomberg. ♪ ♪ begin

another stock we are watching, toshiba.t surged so most in five months after david einhorn had a position in the struggling company. the hedge funds that is wagering toshiba shares will rise. believesht also toshiba can resolve a legal dispute over a cell of its memory unit. up, shares of netflix jumped the most in nearly two years, hitting an all-time high. we will dive into that and other tech movers in the market, next. "bloomberg technology," is live streaming on twitter. check us out weekdays at 5 p.m. in new york and 2 p.m. in san francisco, 10 p.m. here in london. this is bloomberg. ♪ caroline: politics, media, and the future of automation was front and center at the convention held in boston.our bloomberg editor at large eric sachs -- erik schatzker sat down with barry diller to discuss how ai has been used for business. >> we have been using machine learning and artificial intelligence for years. because theerated computing ability, the ability to compute faster and faster, has accelerated. but artificial intellige

toshiba under pressure, off by 6.5%.sale of their chip unit. david: thank you. that hna has been told property ipo has been delayed. we are joined by our asian deals editor. it is a setback. how much of a setback? >> at least a few months. they are looking to add other firms, so it will be delayed until autumn. david: what are the chances they something similar for this ipo? >> we know other firms other than bank of america have been shying away from doing business with hna. , asgroup and morgan stanley well as the state-owned chinese banks have and shying away, and it is really a question of whether you want to jump in in the middle of this controversy. at this point, when you look at the company, what does it have to do to convince regulators and investors. fundamentally an ipo is about a growth story, so you want to convince regulators and potential investors that you have moved the on your troubles and that you can deliver growth and profits, a steady line of new property assets and plans for expanding. david: when w

toshiba still discussing whether a straight sale may be prospal.g goldman sachs and canada's onyx group. rishaad: the former chairman of to then vice presidents apologize for the fukushima disaster and said they don't bear criminal responsibility because they could not have seen what would happen. the trial is likely to last more than the year. tepco has not been charged. angie: iran will develop the world's biggest gas filled with total and cnpc. accords, totalry controls 50.1%, cnpc will have 30%, and iran 19.9%. section of the world's biggest gas deposit which it shares with qatar. rishaad: a look at the session across asia, equities muted. volatility is back. sydney, one eye on that rate decision out of the rba. is up korea, the kospi 24% so far this year, down a fraction today, but what is showing. the hong kong market, year to ,ate including best far today 15%ing at what, so far, gain or thereabouts for that market. 16.4%. angie: that's right. we are looking forward to the afternoon in tokyo, that better than expected tankan survey, sentiment

toshiba will sell its stake for whatever $4 billion while the government back incj owns the remaining. they plan to sell the entirety of their stakes. microsoft turnaround plan got back on track in the latest quarter, one might rising sales of internet software services. prospects in the fiscal fourth quarter exceeded estimates and adjusted sales rose 9%. motor phone has top estimates with first-quarter revenue growth. they grew 2.2% compared to analysts'1.5%. it's a good start to the year in europe. growth accelerated across africa, the middle east, and asia pacific. that is your bloomberg business flash. 28 gaverexit, michelle no ground on the second round of the talks. branier saidrau britain was willing to accept a transitional deal which would include free movement of eu citizens. they cite a senior cabinet minister. we have the global head of fx. flow on the pine, what caught my eye in the morning was this. bluebay asset management. you have to go back 40 years to find a country this politically risky. do you agree? back in the 70's, the u.k. went to the imf and we are likely to

toshiba has agreed to hold off on disposal of its chip until july 28.s being contested by a company seeking an injunction. that is your bloomberg business flash. anna:. turn our attention to the united states. mitch mcconnell is postponing plans to debate the health bill as john mccain recovers from an unexpected -- unexpected surgery. even before the delay, the cannot lose a single additional republican in order to pass the senate. the cbo will not release its score today as many had expected. when you look at the united states at the moment, delay after delay it seems on the health of the hundred it's delaying all the other things on -- on the health care bill. it's delaying all the other things on the agenda. guest: you had an important statement from the cbo saying if the health care bill goes through as planned, there will be an excess of 20 million americans who will lose insurance. that is a huge challenge and the central case has to be that we will see further delays and further disruption of the process of the health care bill. that in turn is

toshiba saying the lawsuits come from six overseas institutional investors and that the total damageg about ¥117 billion. again, six investors -- six overseas institutional investors claiming damages over the accounting issue at toshiba. you can see the stock right now down about 2% after these headlines have come out. we will keep our eye on that story. let's get over to sydney now, where paul allen has the first word news. paul: thanks, betty. the congressional budget office has updated its estimate of the impacts of a straight repeal obamacare. it now says the number of uninsured people would rise to 32 million by 2026. president trump has told senate republicans that health comes first. he says they should stay in washington and delay summer resets -- recess until a replacement is fast. pres. trump: we have to repeal and replace obamacare. we can reveal it, but the best is repeal and replace. and let's get going. paul: sources in the gulf say the u.s. and you can put forward proposals to end guitars diplomatic isolation during secretary of state rex tillerson's visit last week. t

toshiba says it is still talking to potential buyers about the chip memory unit.pine economy at san miguel. earnings may climb to $1.4 billion from about $1 billion in 2016. it has diversified into oil, toll roads, and power businesses. withell is now in talks potential foreign partners. -- san miguel is now in talks with potential foreign partners. the survey by the center of monitoring the indian economy says 1.5 million people lost work in the period from january to april. the ceo says most of the losses were young people and said the organized an informal sectors were affected. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. haidi: thanks for that. singapore state investment fund a 13%k may have reported gain and assets to reach $199 billion, but it is still cautious. the head of strategy said that although he is optimistic about the future, when it comes to deals, he is not blind about risks. >> we are cautiously optimistic when it comes to the outlook globally, so decent growth in t

it is one of several assets toshiba has up for sale.ing to make up for the multibillion-dollar losses at the westinghouse nuclear power unit. speaking of ideas, initial public offering parents -- offerings are almost up in the u.s.. was within 96%, almost doubling. the news comes on the heels of blue aprons lackluster trading to view last week and the more successful listing of delivery hero on the frankfurt stock exchange. what does this spell for the ipo outlook for the rest of the year? i want to start with the european investor and the european take. delivery hero did go well, a big sigh of release -- relief in germany. when you are looking at these figures, does that make you curious about more offerings from companies, and where are we likely to see them coming, and he particular sectors? i linktone it does give me a lot of encouragement. seen itn: as we have does give me encouragement. i think when companies have gone public, they have already been through extra rigor because there is not been enthusiasm that we have seen in the

trouble japanese conglomerate toshiba, a government backed group and another group have been in a biddinglts, i should say the shares have been falling today as investors ta ke have been falling today as investors take profits. art is getting excited about digital currencies. in a first for the tradition—bound art world, one gallery is now allowing its clients to pay using bitcoin, the digital cryptocurrency underpinned by blockchain technology. we found an owner of fine art. it gives more people an opportunity to experience and to use this new currency. i believe it is going to bea currency. i believe it is going to be a widely used currency in next to no time. the me to request a payment, i go to my wallet. i will give my wallet addressed to the sender and the sender will send me an amount to my address. my wallet is linked to a bank so i can immediately convert the big point into pounds, euros or dollars. not eve ryo ne into pounds, euros or dollars. not everyone can afford these, it is a luxury business, but more people can have an opportunity to buy and, as a small independent busine

toshiba still maintains there is no transactional requirement to consult with them before selling.nto the top spot for the second weekend, collecting $28 million to take total receipts over $100 million. they held off the emoji movie, which sold $26 million of tickets and was universally hand by critics. -- panned by critics. it came from bad review and social media. yvonne and betty are up with daybreak asia next, for the next couple of hours. i want to get a preview of the data we are expecting in emoji. this is the world we live in now. yvonne: not much of a measure for that for me, but a lot of data, china pmi. and japan's production in the next couple of minutes or so. we will see a rebound from month of june as we saw the slump in may. we have the first part of june, company production plans saw that bounce back as well, actual output. we will see how that plays. let's start with demand in europe. that should be helping japan in terms of supporting production exports. betty: a lot of data to come, and we have japan. earnings. bankina -- have japan earnings. in china, we have

we have been watching toshiba in the spotlight falling in tokyo.d a report from asahi news. you have samsung at a record southt 1.5% and reports korea could overtake taiwan as the world's largest chip market. this is a sense of what you're seeing in the city market in terms of a big rally coming through in health care players. have a look at this chart. we also had china data coming through today and it was very strong. you can see this yellow line is exports, they rose by 11.2% in june in dollar terms. imports up by 17.2%. the has been the talk of feel tariffs from the u.s. but a lot of analyst saying even if that happens it does not look like it will dent china's export momentum. thank you. testimonyen delivered in front of congress yesterday and said the u.s. economy should continue to expand over the next two years along the central ink to keep raising interest rates. bank continuesal monitoring inflation. >> the fed trade from june is still in place, yellen's testimony making no new ground. the u.s. economy appears to have grown at a moderate

having a look at the downside, though, toshiba off by 5.4%, headlinesfrom the there. weakness coming through from a number of the smaller banks in australia as well. wake-up. a quick look at this chart. michael g. wilson, one of the analysts who writes for look, thissaying, aussie rally we're seeing is started at the highest level since may 2015. huge divergence. they used to move in tandem. of course, of course, we heard from phillip lowe. he does not like a high aussie know that, but certainly the fact that tolation nowhere near the 2% 3% target range. what are they going to do? and david? >> yeah. at 143, i'm afraid to extrapolate how much aussies wines are going to cost in hong kong once they export that. exporting inflation, if you will. the undercurrents in markets is the fed when you look at the currency. for more details on the fed, get it over to's paul. paul? >> thanks, david. expected left policy unchanged, but concerned that the unwinding of the balance sheet will start, quote, relatively soon. the start of normalization be a milestone in a recovery progra

toshiba is considering an initial public offering in switzerland. one of several assets toshiba has put up for sale and is trying to make up energyses in its nuclear unit. that is the bloomberg business flash. four former barclays executives will appear in court over criminal charges. ex-ceo and three other members and the bank itself stand accused of conspiracy to commit fraud and unlawful financial business. joining us is the european legal editor. thank you for joining us today. run through what we will find out the next couple of weeks. >> this dates back to 2008 when there was the emergency rates which was 12 billion pounds. what prosecutors are looking at were signed deals related to that. million advisory fee to guitar. francine: what happened -- to qatar. francine: what happens today? hearing.is a bail they will have bail set and probably move on to another court. we are hoping to find out if we get a copy of the indictment, we will get more information. all we know is they are charged with fraud with false representation. it does not tell u

toshiba saying it is going to landis.hey are putting up this company , although shares it has in this business from the japanese holding in that swiss company. manus: let's get to juliette sally with your first word news. greece has been approved for a nuclear snow bailout from the international monetary fund. the washington-based find has with onea new loan point billion dollars. it ends years of speculation on whether the imf would join in another rescue. the uk's foreign minister has promised to make considerations to minimize the effect of brexit on japanese companies. that is according to the japanese foreign minister speaking in tokyo during boris johnson's visit. china central bank has boosted supplies of cash and financial systems. the pboc added millions of dollars. monthshe most in six after demand driven by tax and dividend payments pushed the rate to a four-week high. hasi arabia's king overhauled the company's security agency. agency has been created that will be linked to the office of the prime minister , a

. >> once this flash business from toshiba, the hobbled toshiba last night they got a win in san franciscoa temporary restraining order so they could get access to some data, records from toshiba i have to tell you, this is going to be chilling for anybody else they're trying to get it up. the fact that they got a temporary restraining order, they're very hard to get people don't understand, they're very, very hard to get others are going to say, whoa, i don't want to be a priority. >> remember my reporting was about to get on a plane and do the deal, and that was when they brought that lawsuit they said, forget it it's too strong. >> they're going to have to drop out. any good lawyer going to say, hey, listen, we can't bid because western digital has this court strategy that will keep us out. i believe others will droep out. it's going to be very good. >> what's on mad tonight >> one of my favorite companies, hernon chair, i love it. i usually sit at it. but i love the standing desk. >> very nice. >> i just long those guys. >> thanks. we got a lot done. when we come back, there's more to

fortter day on the markets troubled japanese firm toshiba.he company said a deal to sell its memory business wouldn't be closed in the next fortnight. for troubled japanese firminvestor'e german airline lufthansa because it was too optimistic in its forecast. expecting annual pretax profits to surpass 1.5 billion euro's. markets don't agree. the share was down 2% in frankfort. >> one final business story. it seems the house of cards is still standing for netflix. >> it has surpassed the milestone of 100 million users worldwide. it added 5 million subscribers in the last quarter helping to boost earnings by almost one third. more than half of netflix subscribers are now outside the united states. the company will continue to invest more in new content after success of its original series and news sent the company's shares soaring by 10% in trading on monday. binge watching all of those series. thank you, stephen carroll. going to move on with our international press review. offre going to start us with reactions in the united states to all of

hong kong time, and watch for shares of toshiba in a company to replace toshiba. and kia -- hyundai and kia are reportedly lowering their sales targets. later thist due afternoon. that is a brief look of what we'll be watching for trade late. that is just moments from now. this is bloomberg. ♪ ♪ >> a client start for asia-pacific stocks this tuesday. >> markets shrugging off political uncertainty. the dollar -- dollar strengthens. >> president trump and defend. -- the fed. >> competing for customers. that loans alongside groceries and closing. >> this is the second hour of "daybreak asia," i'm yvonne man in hong kong. >> it's after 8 p.m. here in new york. i'm betty liu. kind of a next session -- makes session on wall street. it was a low volume trading day, certainly a lot more volatility ahead with janet's testimony and the earnings season underway. randyt got the news about quarles being named essentially wall street's top cop. yvonne: yes, and what that means when it comes to dodd-frank, is he going to be pushing measures to tweak it or fully dismantle it alto

toshiba said it is considering listing its energy unit in switzerland.imeframe by the end of september. the company says it continues to consider other options, including selling the business. that is your bloomberg business flash. manus: thank you very much. to sign a plies t contract with total and cnpc to develop its largest gas field. manus: it is the first foreign investment in iran in energy since sanctions were lifted. what is the significance of this? put this into context for us? it is a big corporate name. >> that is entirely accurate. we have been waiting for a wave of potential deals since sanctions were eased. out this announcement from total and cnpc that they have signed this deal. the rationale makes sense. china has been snapping up energy assets around the world. some of the majors have been chipping their toe in the dealmaking space. the timing, the iran announcement is expected to come on the day that was going to be the deadline for qatar to respond to those 13 demands from the saudi-led gcc alliance, and it involves an oil field tha

taking a look at the breakdown in terms of leader and laggards, toshiba falling 3% this morning.f an assignee report saying its auditor thinks the company made accounting errors over losses at the westinghouse unit. toshiba is aiming to supported by august 10. another highlight here. this fell 1.2% this morning. after the nikkei reported its first-quarter operating profit fell 10% on year due to discounted pricing and trying to retain customers against competition from rivals there. they will announce results on thursday. we will see whether that nikkei's numbers will come. ramy: they very much. india's benchmark stock index climbed to a record on monday with reliance industries and a stxe thank contributing to most of the gains. reliant closed at an all-time high on the back of the phone plan. they expected to boost subscriber numbers more than originally thought. the bank also serves of april. the june profits came in line with estimates. we have seen several records this year amid optimism about the prime minister's campaign against bad loans. the head of the bank told thember

toshiba needs to raise cash to offset multibillion-dollar losses at its westinghouse nuclear armed.hat is your bloomberg business flash. guy. very much indeed. you are up to speed. let us get to brexit, rounding to of the brexit -- two of the brexit negotiations. the british government faces internal pressure at cabinet members disagree on the duration of the brexit duration period. ian is ind is in -- brussels for us. week, david davis has got a new briefcase. he is off to brussels to what can we expect them to achieve with mr. barneier this week? >> this is the second time they have met face-to-face. they are firing the starting gun and they really want to get together and sort of bridge this distance on citizens rights, the protection of systems in the u.k. after brexit, but also this brexit bill, the money, the financial obligations the u.k. has for the e.u.. michel barnier looked pretty exasperated when he spoke to the press last week, and he will be hoping they can find some common ground today and really get some consensus under their belt. guy: the big point of discussion ov

in terms of other stocks, toshiba under pressure in tokyo, closing down by almost 5%.ews saying the auditor made a accounting area. one of the biggest drags in the region, sunac. a lot saying this companies to highly leveraged. trading,3.5% in late even though it came through with a good second quarter number. market that the indian has been on quite a big run. a $2 trillion market that is rival to germany and canada in size. this white line is the 50 day mean of deliverable trade. it is trading at the lowest level since september. spokealyst we spoke to -- said the low delivery percentage amid hiding -- rising values, the syndication may wane. this indication may wane. -- they are going to start the titan. the french firm reported a rise in first-half income from offices. joining us now, the cfo. great to see you this morning. give us an update on the business. , thatell us every ceo europe is in fighting form, recoveries on the way. would you agree? >> we agree. strong performance across all of our regions. stability seems to return, which is what business is like. c

to --rm is wagering toshiba shares will rise once it exists contracts tied to westinghouse.ers second profitability and sales have come in weaker than analysts estimated. closely watched growth margin -- margin shrank while revenue in the three months into july fell 7.8%. it highlights the challenge facing the ceo who took over six months ago to improve performance. ethics has scored a record second-quarter, surpassing expectations and boosting subscriber totals. 500 million subscribers in the second quarter, 200 million more than forecast. or than 4 million of those new viewers can from outside the u.s.. shares surged in late trading. citigroup has settled on frankfurt as trading hub in the european union. bank plans to present that option to its board of directors this week for approval. they said the choice to expand the banks existing broker-deal in germany will create between 150 and 250 new roles there. lufthansa has raised financial forecast after up -- operating profit doubled in the first half of the year. the airline said adjusted earnings before interest and taxes

toshiba has a hold off on its memory ship -- memory chip unit.he sale is being contested by western digital which is seeking induction. western digital is concerned that technology will hand -- and up in the hands of competitors. plans amazon's expansion including it's a deal for whole foods are raising questions and washington. wall street is watching. there are calls for hearings on the acquisitions. the implications for shoppers and staff. hedge fund manager has gone short on amazon saying, trust and concerns are going to erode its values. goldman questioned whether tech stocks are overvalued. in banks, they will be kicking off the week on wall street with big questions about the sectors. three of the nation's biggest banks posted their earnings. jpmorgan reporting a 14% drop in trading revenue. ,t posted record earnings though. it was a mixed picture. is a bigevenue concern, it has been for many quarters. >> cap not a surprise that revenue wastrading down. they posted worse than expected. it was offset by these record earnings. let's take a l

shares have slumped since the middle of june when uncertainty grew over toshiba.e: a revised bid for arrival indian etailer. is $100 million more than before. it is to have a stronger competitive -- domestic competitor to amazon. china's crackdown on risk. how beijing's latest push is rippling through the economy and possibly the world. this is bloomberg. ♪ so we need tablets installed... with the menu app ready to roll. in 12 weeks. yeah. ♪ ♪ the world of fast food is being changed by faster networks. ♪ ♪ data, applications, customer experience. ♪ ♪ which is why comcast business delivers consistent network performance and speed across all your locations. fast connections everywhere. that's how you outmaneuver. morning hong kong. looking clear out there, hope we do not get rain. betty: indeed. no rain today in new york. it was bright and sunny. 7:30 p.m. tuesday evening here in new york. markets closed mixed. a lot of bad news from washington, including investors in the risk off sentiment. i am betty lou here in new york. yvonne: i am yvonne man here in hong kong.

proposed new reactors years behind schedule that the instability has now spread to the parent company toshiba of japan this one hundred twenty year old company is now wildly and may not itself survive what's going on here so this nuclear relapse in north america is over it's just how much money is going to be lost right and what's the status of the most of the nuclear plants in the united states that should concern us most i know there were there are a couple that nearly got taken out by river flooding a couple years ago you were on our program talking about you've got of course a bunch of them on earthquake faults and along the ocean in the pacific in california we are the ones that we really should worry about what's the status of these things are there any efforts to shut them down oh absolutely there's one hundred operating reactors in the united states and twenty more in canada all on the great lakes up there and you know a natural disaster a terrorist attack any scenario that cuts off the primary cooling supply from the grid and the emergency diesel backups and you are in fukushima land

deal may be made this week, but toshiba is discussing whether the straight sale would be preferable. held with several potential buyers including goldman sachs and canada's next group. people have pleaded not guilty related to the fukushima disaster. the former chairman and several others apologize for the disaster but don't bear criminal haidi: it is a: 30 a.m. in sydney. futures showing upside in the trading week. they are trying to recover from the 1.7% decline on friday. i am haidi lun in sydney. betty: i have betty liu in new york. you are watching daybreak australia. let's go to first word news. the stock market fell on its return to trade after they would not accept any demand proposed. monday is the deadline for the 13 pacific demands which include and al ties with iran jazeera tv network. they say they are not afraid and are prepared to face any consequences. i will plan a deal to develop the biggest gas field -- iran will plan a big deal for the biggest gas field. they will control 61% of the project while the other group will have 30% and another one 19.9%. iran's section

toshiba still hopes to submit on august 10. global news, 24 hours a day, powered by over 2600 journalists and analysts in more than 120 countries. i'm so become a ribbon. this is bloomberg. shery: thank you. ef forgo back to usyous an update on the meeting between opec and other oil producers. give us some of the highlights. yousef: let's drill down into this conversation on opec and non-opec in a beautiful city. to get to the point of what happens in the meeting an-- the evolution of how you listen to the market, what they are listing for. was, inwas decided addition to the agreed-upon to look at other parameters. because of the changing dynamics of the market. yousef: in the past, the key metric would be the production data. now they are going to take into consideration the export numbers and other metrics to get a better idea. the other key element of the conversation is the saudi position through the energy minister, giving a very passionate speech yesterday after the meeting, pointing out and describing other countries not

toshiba down by about 6% on the lunch break into cap -- the lunch break in tokyo. "it's his, one we've been watching is the aussie dollar, rising above $.80 u.s., the first time we've seen that since may 2015. you have continued momentum coming through in the commodity-based currency. this chart here shows the trade weighted exchange rate versus the rate at record lows, yesterday the governor trying to talk down the currency but we know we don't have inflation anywhere near that 3% target. the rv. no talk from shery: juliette saly, thank you so much. the move in the currency markets reflecting what the fed has said. policymakers their reinforcing that they hope to start unwinding the balance sheet in september while inflation is being watched closely as it eyes another rate hike. mark, it's great to have you with us. tell us is this dollar plunge reaching extremes? think itk many people is quite stretch, with a one-way trend since early january that's making market slightly wary that some markets might cause a little bit of a bounce. the reaction yesterday to the f

. >>> campbell is buying park foods for 7$700 million >>> toshiba reportedly secured a $6 billion creditom several major banks. the company is using shares in its flash memory unit which it is selling as collateral for borrowing all of that cash >>> nike is stepping up its sneaker sale game. the retailer is planning to seamlessly offer sneakers to customers on instagram this comes shortly after the xha company announced it is teaming up with amazon to combat the sale of counterfeit items. nike has yet to disclose the full details of either partnership. >> they hinted at it in the earnings call. looks like we're getting some headlines now on it. >> exactly >>> amazon's alek is a xa is ma easier to track packages now amazon is lighting up a different color when it's actually delivery day. the new feature's launch comes days before the annual prime day shopping event on july 11th. >> i don't know that anybody needs that alert if you're getting amazon prime delivered, youalready know wha day it will be there >> two days, sometimes one >> yeah. >> i guess you could -- if you are an alexa user

. >>> shares of toshiba jumping nearly 20% after a u.s.ourt did not grant western digital an immediate injunction to block the sale of the company's memory chip business. the court ruling was friday, but japan's market was closed yesterday for a national holiday. >>> mattel's long-time finance chief is stepping down kevin farr is leaving after 17 years as cfo this a month after mattel slashed its dividend to pay for its restructuring. >>> and sysco says bill delaney will step down he will stay on as adviser through next year. >>> shares of select comfort are falling today. the mattressmaker reporting a second quarter loss and revenue missing forecasts. the company cites an inventory shortage and a shift in deliveries in the third quarter. >>> still ahead a round up of the big international stories breaking overnight including the big change, is that could be coming to nafta. >>> plus why the campaign to stop brexit is gaining steam. >>> first another check on european trade we are mixed at this point the ftse 100 is the standout "worldwide

shareholders who have exercised voting rights, toshiba is still talking to potential buyers about eightmory unit. softbank is hiring a media executive for a $100 billion vision fund. andn will join the fund moved from new york to their headquarters in california. they are trying to get control of sprint. softbank is in talks to invest in chinese bank rentals. on high denomination notes late last year has claimed to have cost to the country more than one million jobs. says 1.5 million people lost worth from january to april. the ceo says most of the losses were among young people in both the organized and informal sectors. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. >> i am sophie kamaruddin with a check on the markets. the nikkei 225 continuing to fall down 0.4%. the dollar-yen retains its strength, 113.47 against the backdrop of dollar weakness. treasury yields are falling, given the dovish comments from lael brainard. bok decision due thursday. china moved it to report their bond markets. despite the sur

rising on the back of earnings updates, but toshiba sliding..5% after its share sale came in at a discount. ♪ emily: this is "bloomberg technology." i am emily chang. our top story this hour, alphabet second quarter report, shares are still down. the ad model is shifting to a mobile dominant space. also hammering down profit was the record antitrust fine from the european union. was it all bad news? take a listen to ruth porat, the c.f.o. of alphabet, on the investor call. >> in terms of the revenue detail, google site revenues were $18.4 billion in the quarter. up 20% year over year. youtube. the biggest growth was in mobile search and youtube. emily: joining me, the bloomberg senior analyst. we are taking a look at shares after hours. you can see the spike, then the plunge. what is going on? >> if you look at the underlying demand through paid click change , strongest growth since 2007, the demand is strong. the traffic acquisition costs, because they are making more money from mobile and programmatic advertising, the acquisition cost is high

and toshiba has agreed to hold off on the disposal of its flash memory chip unit until a court hearingjuly 28. the sale is being contested by their partner, seeking an injunction. they had billion-dollar losses during its westinghouse unit. nejra: the inflation situation is causing more headaches for janet yellen as a continues to undermine her plans for gradual interest-rate tightening. june cpi figures came below the estimate for 0.1 and should continued weak pricing power across a range of services. the data suggests the slowdown could be more than transitory and it leaves investors and policy makers scratching their heads. still with us is francesco garzarelli from goldman sachs. so, francesco, we have talked about the fact that this was bond-based, the slowdown. in your view, transitory or entrenched? >> the miss was pretty sizable. to accumulate those misses, you get 60 basis points of core cpi, which is material, i would say. the other thing to note is most of the turn in the trend in inflation tends to be services, which is consistent. it is hard to say how long exactly, but a

tax investigators and an update on the toshiba chip sale. the plan reportedly included an option for the company sk hynix to take a minority state, this is a contra decision to the public statements. the stock down about 3%. >>> dropbox is reportedly looking to hire underwriters for a possible ipo that could come later on this year if that does happen, it would be the biggest u.s. tech company to go public since snap back in march. dropbox was valued at nearly $10 billion in one of it's fundraising rounds back in 2014. reuters reports the company will start interviewing investment banks in the coming weeks. this could be a big deal, but again, a very competitive space for dropbox. box is already public and you have a lot of cloud offerings from alphabet, microsoft as well amazon, everybody else out there. so competitive space a >> and good sign that the momentum will continue all right. let's talk about spacex making news over the weekend. last night they called off a satellite launch from the nasa kennedy space energy jucenter j seconds bef

court says toshiba must give its database in its bid to buy the chip unit. >>> burberry saw a jump in its revenues same store sales were up 4% doubling analyst expectations. >>> more stocks to watch this morning. shares of health care services getting a bump topping estimates with a 2% jump in revenue, and apple reportedly putting in overtime to fix softs wear bugs affecting its next generation ichlts phone they say the glitches include problems with wireless charging and a 3d sensor for facial recognition. that stock unchanged at this moment and we are continuing to watch shares of snap the stock down again trading well below its $17 ipo price >>> oil prices rising on drop of inventory data would be d bob dudley's call on crude is next stay tuned you know what's awesome? gig-speed internet. you know what's not awesome? when only certain people can get it. let's fix that. let's give this guy gig- really? and these kids. and these guys. him. ah. oh hello- that lady. these houses! yes, yes and yes. and don't forget about them. uh huh. sure. still yes! you can get it too. welcome to the

i think they get the toshiba flash. >> seagate is the worst s&p err rig eerr >> who gets the toshibalash? >> western digital because they got that restraint -- >> superior court. people don't understand the power of one tro how -- i mean, there have been -- i've tried to get tros, they're not easy to get. seagate is the worst s&per number two is delta today. does miss by two cents with $1.64. they see q3 rising from 2.5 to 4.5. >> that was disappointing versus united continental here's an interesting stat from the day they pulled that guy off, that stock has been the best in the group. that was the signal to buy united continental could you run the tape come on? that tape isn't just run when you mention it >> i think we ran it out even though it's digital, it somehow just decomposed. >> i reiterated my buy right now -- >> it doesn't even actually exist as a physical thing. >> if nvidia were running this thing instead of humans, it would be up there right thousand >> would have heard you? >> maybe you need to identify the doctor in question or -- >> not with nvidia >> they would have

the nikkei reporting toshiba chip unit sales could still be elusive. , you can seet industrial profits continue to search. also reflected here in the producer price inflation. there had been some concern that went tpi came off the highs we saw in december last year he could way into industrial profits but that doesn't seem to be the case. concerns that momentum is stalling continue to be proven wrong. one is never wrong, only temporarily interrupted. the senate rejected a simple repeal of obamacare. the failed amendment similar to the affordable care act repeal that passed congress in 2015 and was then be towed by then-president barack obama. earlysenator still in the stages of an unpredictable floor debate on health care and there are a significant doubts that republicans can muster the votes needed to pass any kind of deal. there will be an all-night boat later next week that could feature dozens or even hundreds of amendment. manus: inflation remains below target even as the economy picks up steam. with the details, here is mike mckee. the fed confirms wall street expectations. conc