it's come off those levels but still about 16% over the past three months, wilf. >> i'll say, i don'tare if they double the price. i hope it's a big, big rebound. i hope it's a transformational product. if not, i'll be disappointed because they keep delaying it. if it's just a small upgrade with a big price increase, i think that will disappoint the market. >> we've been waiting so long for the apple tv that you're referring to. could replace what cable providers provide. this the current upgrade of the apple tv, i don't know if it warrants a big price hike from $69 to $149. we'll see if there's consumer demand for it. >> if there is a big price increase, i think there's going to be more upgrade than more than we know. apple likes to tease things up a bit. you're right, if it's still the same little box with not much in it, that will be a disappointment. but we'll have to wait and see. >> absolutely, we should point out according to our friends at kemshow, september is the month, apple has done and we'll see if history repeats telephone or investors take advantage of the drop in price

wilf, back to you. >> thank you for that. moving on. around 300 local residents attended a memorial service to remember those that died in tianjin last tuesday. so far 114 are known to have died in the two explosions 8 days ago with over 700 injuries and 57 still missing. an investigation has been launched by china's top prosecutor into the disaster. >> meantime, yum brands appoints a new leader for the china business. the ceo of kfc will take over the position today. he was instrumental in making yum the biggest western restaurant chain in china. they posted four straight quarters of same store sales decline in china following a food safety scare last year. however, sales have turned positive this quarter. yum rose 2% in after hours trade and frankfurt up by 1.8%. >> target and mastercard are work on a settlement over the data breach. target could pay up to $67 million to reimburse card issuers from the costs occurred during the massive hack attack in 2013. in june, mastercard rejected a $19 million settlement saying it didn't come clo

my guess is 219 is a little bit more bullish but wilf what makes you think 241?> i use my modeling to come up with that guess 241 so everyone should take that as right. it will be 241. >> what's the bet? who is buying drinks? >> the loser buys drinks and lunch and the restaurant changes depending on who wins. >> i see. >> we've had viewers writing in. he says he is from hawaii. he says my unscientific guess is 212, 550. that's very specific isn't it? all right. >> we'll have to see who is right on that one. now over 40 years since he completed what was once called the suicide jump. he's broken the world record for the stunt clearing 22 cars on the same bike. it was only attempted and failed by two others before evil did it in 1971 when he jumped 19 cars. quite amazing pictures there. >> still to come, we'll talk more about the gop presidential discussion yesterday. donald trump drawing boos for leaving open the possibility that he may run as an independent. we'll talk more after this short break. try the superior hold... ...of fixodent plus adhesives. they help y

we're joined live from tokyo. >> thanks wilf. for the third year in a row, first quarter profits at toyota hit a record. there are two factors for these numbers. one is is the currency factor. as you mentioned the weaker yen helping japanese auto makers across the board. the second factor is the strength of the u.s. market so profits were up 10%. this is much better than expected. 5.2 billion u.s. dollars and operating profits were up 9% but here's what the cfo had to say in summary. >> the u.s. has been strong but the domestic market in asia were weak. on top of that demand in the middle east declined due to the sharp decline in oil prices. >>> but when you look beyond the headlines overall sales in the quarter are actually down. one, the factor that's pushing the sales figures down the most is the uncertainty in the russian market. the collapse of that market. the collapse of the ruble. toyota says they can't give a forecast for that market for this business year and there's softness in traditionally very strong markets like th

>> hey, wilf.hares of the hamburger chain known for its hormone and antibiotic-freiburgers and sides soaring more than 8% in after-hours trading. shake shack reporting second-quarter earnings of 9 cents a share on revenue of $48.5 million, both of which beat analysts' forecasts. same-store or same-shack sales rising nearly 13%, well above estimates of 6.8%. the company attributes that to an increase in menu prices as well as the response to the return of crinkle-cut french fries, a shake of the week special and strong results from its locations in las vegas and chicago. shake shack has 37 company-owned restaurants in the u.s., including 6 just in new york city, and now plans to open at least a dozen new domestic stores a year starting in 2016. during the second quarter, it opened three u.s. restaurants, one in the uk and its third in moscow. shake shack is also boosting its 2015 revenue forecasts and expects full-year same-store sales growth in the mid to high single digit percent range. the compan

. >> wilf, there are two dynamics going on here giving rise to this relief rally in the stock markets. as you can see across asia right now, the first thing is external u.s. markets, late session recovery on wall street. that helped. the dollar has backed off again. september lift off seems to be off the table for now at least. it looks as though it's going to be a december story. that's what the markets think in the here and now. a lot of people trying to get a handle on whether this is regime change or short-term in nature so the scope and the duration, whether it's to get down to 10% for the devaluations. >> you referenced cold water on the idea. the markets taking that statement at face value and coming to the conclusion that perhaps we're not in the early throws of a currency war. let's see how they fix the midpoint tomorrow and next week as well. that's going to be crucial. we've seen the reaction because of the devaluations but because of that normalization so a bit of a relief rally also in the currency space. so the real fragile currencies here, they're really in the firing l

just last week when you were on vacation, wilf -- >> doing research in spain. >> -- yeah, $30 billion of liquidity into the markets. they've done a lot. the question is, does it actually help? >> right. and i think with the rate cuts that we've been pointing out for the last years, the london figures don't improve. it's one thing that china does boost credit, but in the short term, they're cutting rates. so that's the tricky situation. as opposed to anything else. >> it's amazing, i think you wrote a piece, within two weeks, we saw the stocks fall. >> extraordinary. >>> right now, we'll switch focus and talk about something more light-hearted. it gives new meaning to the term political heavyweight. vladimir putin and prime minister dmitri medved pumping iron in the gym and sharing breakfast. showing off in a t-shirt and sweat pants. reminiscent of bare-chested horse ride and fly-fishing a few years ago. do you want to see your national leader or your boss even work out at home, or where else do you think they get up to in their private side? i have to say, this is completely absurd, t

. >> hi, wilf, yes. relief rallied broadly even in the japanese markets despite the fact that those orders were down beat and relief rally largely because of the late rally, late session recovery that we saw on wall street overnight but also because of the pboc. they are finessing this now. they're also pouring water on the idea that they are embarking on a devaluations cycle to get the currency down by 10 to 12%. they said that was not the aim of this. they are trying to make the case for short-termism, gradualism, incrementalism to create more volatility in the cross, to move toward the currency liberalization. some do believe that the unofficial aim is to depreciate the currency and that implies another 10 to 12%. and anyway, as i said, relief rallied broadly in the markets. really because of the chinese devaluations and also ahead of fed normalization so getting a respite as well. we still have to deal with fed normalization. yes september may not necessarily be a done deal in terms of the fomc and t

wilf, you were walking about how weak oil prices are, that's dashed the malaysian economy. currency wins now. and a strong performance towards the end of the closing day. a late session rally in the afternoon. up by 1.2%. it's curious, very much at odds on what is going on in currency space. i'm doing more reporting on this and trying figure out what happened. that's where we stand. back to you. >>> now, hsbc shares in the green after europe's largest bank beat on the bottom line. the company posting a 10% rise in first half profits helped by a spike in trading in china. hsbc announced the sale of its brazilian unit for more than $5 billion as the firm looks to shed some of its left profitable assets. >>> germany's second largest learned reported profits almost three times higher than the previous years, thanks in large part to its retail business. the company's chief executive hailed the bank's turn around strategy and rewarded shareholders with the first dividends in eight years. >>> let's have a look at other top stories. president obama is set to unveil tougher climate

. >> hi, wilf. let me pick up on the china devaluations story as we round off the week. that has moved this cycle story to a certain degree. but let face it if beijing is subjecting the currency increasingly to market forces the economy is weakening so you have to expect to see a weakening yuan currency as well. so in a way, beijing is coming a little feddish is the way i would characterize it is going to be data dependent and it habit been stellar so that's going to weigh on the currency by implications of the regional currencies as well. i want to talk about oil. that's a big narrative today. oil at 6 year lows. that's really hit some of the oil exporting countries today malaysia off by 1.25%. we were down by 2% so the lowest levels in about three years. let's flip the board and show you the impact on the currency as well. at one point the nyr was down by about 2.5%. clawed back some of the losses. still deeply negative against the u.s. dollar. crossed the handle for dollar ringget down for the malaysian currency against the u.s. dollar. it's been a very rough week for

but wilf how are markets looking. >> so far, slight disappointments, particularly from france in terms of euro zone gdp hasn't dampened markets in europe today which we're looking at about .5% of gains. the u.s. yesterday was also up for most of the day although sold off late as oil did and finished flat. let's look at the euro stoxx 50 and also gains there and now to see where that's playing out. we're looking at gains up about 0.43 on the ftse 100 and it's a broad based half a percent of gains to finish up the week. overall, european equities still down this week. the likes of germany and france. really suffering heavily tuesday and wednesday off the back of the chinese devaluations. let's look at individual movers across europe. swiss life up 2.1% in the green after it reported a small profit in the first half. the company credits commission income for overcoming the strong swiss frank. bp is down half a percent after they manipulated the natural gas market in 2008 however the judge did not address the proposed fine or any other penalties of course. so no doubt weighing on bp. porsc

wilf. >> seema, thank you very much. a desent session in asia, that hasn't carried through to europe. we're looking at 0.5% of a decline on the stocks. so continuation of how all of this start last week. more pronounced disappointment in u.s. over the course of last week as well. let's have a look at the individual markets as you can see, decline, relatively sharp declines for continental europe, germany france, and the ftse down, 1.8. the minors are weighing on the uk index following that disappointing data out of china. let's look at individual movers shares in dixon house, after the company says it was the victim of a cyberattack. personal data of up to 2.4 million customersvy has been exposed in the attack. it's just below flat, after a british company agreed to the advanced business in cash. the company says it expects the acquisitions to be earning in france immediately. let's have a look at the commodities. you can see across the board there, as they take a hit this morning because of the disappointing trade from

wilf back to you now. >> thank you very much as ever. let's talk about apple that lead the declines on wall street yesterday losing more than 3% to close below $115. the company still wallowing in correction territory down 14% from april's highs. >> now suppliers also got hit. some of the worst amid concerns about future iphone sales in china. now someone confounded by the slide is legendary investor and the shareholder said he was worried. >> it's been two or three years but, you know, it's a concern: i like to think it's a reaction but i don't know. i could put a hand on it but right now i can't. >> so let's pick up and talk a little bit more about this on apple now. one person also very disappointed made that incredibly bullish comment a few weeks ago. is this a slight correction or smartphones are saturated and should that part of business will valued like a dell and hp business? >> there's fundamental things at play here. iphone 6 sales may not be as strong as anticipated going forward. on the technical side it's below it's 200 day

wilf, how are the markets looking ahead of that report? >> let's have a look at these. it was slightly softer in europe yesterday and it's a median soft day in europe today. we're looking at about half a percent of declines in the stoxx 600. august for u.s. equities much worse than july. we're correcting in the first few trading days in august. in both europe and the u.s. but more pronounced in the u.s. stoxx 50 down as well. let's look across europe and we're looking at the moment at all of them in the red. ftse 100 outperforming just below flat. germany and france down 0.4, 0.5%. let's look at bond rates. we've seen yields tick up a little bit over the first of august but we're still looking at 0.7% for the german ten year, safe haven buying going. 2% on spain. we have the u.k. at 1.94%. of course dovish sentiment coming out of the bank of england yesterday. quick look at it as well. 20 basis points moves each day. nothing too serious with just above 109 at the moment. sterling yesterday did have quite a weekday. only one of the nine members voting for a rate hike. pe

. >> that's where the deals get done, wilf. >> but the idea of hacking your way around for like four hours. don't get it. i like the focus of a sport that takes an hour or so and it's really exhausting and then you're done. anyway, we're digressing. let's get back attorneyings today. novozyme shares on the back of weak second quarter earnings. in light of those results the shares are down 9.73%. novo nordisk down 1.1%. deutsche post on a year by year decline. it cut it on the back of structuring costs and labor disputes. the cfo said the strikes are fully to blame for the career company's weakness. >> it's absolutely the major factor that lead to our decision to reduce the guidance. we had about 100 million of costs and reduced the rake by 100 million on the upper end and lower end. it's just reflecting the activity. >> now trading lower as well on the back of a slow down in german mobile. this outweighing strong core profits up 13% thanks to strength in it's u.s. business. it's off 1.9%. let's look at markets more broadly now. >> as you said before we were higher on the back of bett