yvonne: thank you.king at how markets are reacting. we will go to julia. te: it was widely affected in the bank of korea. interest rates on hold. if we look at the bloomberg terminal, you saw that they drop -- big drop. against the dollar, this is recouping a little bit now. coming back a little bit because they factored in. this came through as the decision hit the wires. the index has all in substantially, down by 4/10 of a percent. and other markets are turning negative as well. we were hoping for a more flat or subdued affect. we are looking at some weaknesses coming through. we are looking out losses from the earlier session, down 1/10 of a percent. holding onto gains from yesterday in the early session. and new zealand is pretty flat. i want to show you some of the apple suppliers, because we really did see the big drop coming through in the apple shares. seen this coming through today, saying that the weakness with apple, with the iphone sales falling, it is unwarranted because it was already fac

yvonne: thank you.etreat of chinese companies from the u.s. stock market is sitting a bit -- hitting a bit of a snag. concern is growing that beijing may block plans by dozens of companies to be bought out and relist at home. what is going on? a number of is companies with deals still pending that they want to be bought out by various companies, to delist from the united states and perhaps go back to china. the thinking as they could get a better evaluation in china. what is happening now is you have the regulators in china, not only security regulators, but fx regulators, also known as save. they are looking into the outflows. a number of deals are being done in the united states to buy out these companies. that could exacerbate outflows and put downward pressure on the renminbi. the largest pending buyout deal of the chinese company in the united states, 9.3 billion u.s. dollars. the other concerned with securities regulators is they are paying too much for these companies. when they relist in china,

yvonne: thank you very much.anus: question again on the other stories. -- rosalyn: that of the embattled administration met more than 20 nations indiana. government has little real control in libya says been in chaos since the 2011 death of muammar gaddafi. the united states and russia have held talks in vienna ahead of the effort to deal with syria. made after the meeting came at the international serious support group gathered and try to shore up the cease-fire. john kerry is in another marathon around the world session of diplomacy. the international space station has completed 100,000 orbits of the earth. the says the distance is equivalent of 10 round trips to mars. they've been living continuously on board the complex. 200 and 20 people have stayed or visited, the vast majority men. the current crew celebrated the moment by slapping a 3000 picture taken from the iss. this is bloomberg news. manus: egyptian markets right now are guaranteed to be a money loser. clients have been stepping up shares in the coun

yvonne: thank you.we are looking at the world's newest airline alliance and its aim at the budget traveler on bloomberg.com. we have some big guests coming up this morning. next hour, australia's trade minister joins us live from sydney. our exclusive interview with the black hawk ceo in about half an hour. up next, we look at the volatility in the yen rate and ask jpmorgan asset management how to play the markets ahead of the meetings next month. you are watching trending business, good morning. ♪ yvonne: some news coming from tokyo. the prime minister says he expects to suspend sales tax next year unless there is serious reason not to. he has been speaking and telling lawmakers he will make a final decision on the hike at the appropriate time. you look ahead to the g7 meeting in 10 days. the promise or says as host, he will take the lead on discussions on tax evasion. we are seeing some wild swings in the dollar-yen rate ahead of the brief from japan this week. the fed and doj will meet next month. ju

yvonne: chasing millions of potential smart phone sales here. ♪ yvonne: the global demand for smartphonesng but india remains a market with enormous promise. tim cook has made his first trip there. us live from mumbai. we see cook here on a pretty big mission in india, increasingly important to apple. reporter: it is. india is an important growing market. spot whena bright sales were declining. makinges are that it is close to $1 billion from india snd this is some of the reason why. the second development is about the adoption of 4g technology. the venture is doing launched would meanoption more smartphones and that is why apple is interested. be meeting cook will with topic second of slater this week. told will bee launching some developments. and as a in the market talent base for apple. yvonne: we talk about india and we see quite a bit of regulatory inbox for apple. has been denied the right to sell refurbished iphones in the country. kim -- can tim cook change that? iphones will be a no go. this is against the grain of the policy on promoting foreign investment to our companies to c

oil prices- yvonne: have stabilized from january.s there a floor that you look at that could push you to move again on the readings? -- ratings? reporter: we acknowledge that there was an increase in oil prices recently. that does not change our view that there is a structural change in the oil market. we have seen a substantial change since last year due to several factors, namely on the supply side. manus: we have more to get through. fromon those changes moody's. let's get the latest on the asia-pacific markets. reporter: things are looking a lot better here. the nikkei 225 leading the game on the regional index which has rebounded from those of us. lows.se close -- those there is speculation that the tax hike in japan could be delayed. good movement in australia led by health care stocks. health care and industrial higher. the hang seng index by 1.2%. we have seen some energy players coming off of those highs that we have seen for the past couple of sessions. on the lunch break, the shanghai composite slightly up despite the econ

yvonne: it's all straight ahead on "bloomberg best." ♪ yvonne: welcome.his is "bloomberg best," your weekly review of business analysis from around the world. let's start with the day-to-day look at the top headlines. the week began with a bang as a huge merger imploded. >> halliburton will have to pay $3.5 billion after they call that their proposed merger. take aim in the face of fierce resistance of u.s. regulators and the justice department. >> for baker hughes they are going back to the drawing board and how they are going to go ahead. they are doing a $1.5 billion stock buyback. i think the question now about them cutting costs, they say they can illuminate $500 million throughout the end of this year. i think the plan that management needs to prove to investors is how they will execute on that. and then for halliburton, halliburton dug themselves into a little bit of a whole with a $3.5 billion breakup. even though they are taking share in north america, the international portion of the expansion and the market share piece that baker hughes was goi

yvonne: exciting startups are here ready to share their stories.e coming into the conference had a tough time in the start of seen. the days of the easy money are over. it is harder to get that financing. it is harder to get that coveted billion-dollar unicorn batch. we have a great lineup. ofking things off is the ceo freelancer -- kind of like the ebay for jobs. they are a crowdsourcing marketplace. he will speak to us about the funding process and the tech sector in australia. morgan, hongnce kong's first full-service incubator. we will talk about hong kong as a startup hub. the founder of star investor. much more coming up, stay with us. ♪ ♪ --ie: it is a: 30 in tokyo 8:30 in tokyo. we are 30 minutes away from open. you are watching "first up." rates, all of the details. , 3.2%, inbers are out line with expectations. also the job to applicant ratio is 1.34. for this the forecast month was basically in the same line of march, effectively little change. no change in jobless rate. this is for japan. it is a tight labor market. unemployment rate ha

i'm yvonne man.berg television. ♪ .. >> welcome to the best of with all due respect, a decisive week in the republican primary season . some of cap is the last man standing in what was once a field of 16 candidates. his final rivals fell, ted cruz and john kasich called it quits after donald trump dominated the indiana primary. >> bernie sanders scored an upset in the hoosier state. he could possibly soldier on to the convention in tilde via. -- in philadelphia.

yvonne: good morning.e are live at the four seasons with simonjoined smoltz, who works with high wealth clients. us.k you for joining you were telling us how you to hong kong from los angeles where you say the mood is depressing? how is the mood here? think it isdo not much worse. it is amazing. private equity managers talking about small valuations. my take away was a very cautious outlook. two things differentiate the mood at the moment. one is faded not necessarily participate in terms of selling into the falls that the markets had. today, many clients have seen modest gains, which is very different from hedge fund managers. mood ision, the general andably better on average it has improved this year versus other regions. there could be a boost in this part of the world. what about in terms of portfolios? your clients have not done much since january? guest: people have been staying the course. provedhe phone, that has to be a strong investment recommendation. yvonne: are there concerns about negative ra

yvonne: yeah.end of the day, you do not want your private details, and what about doctors with hippocratic oath? .et's not dwell on this let's just move to google for another reason. yvonne: the tie up to test drive the autonomous cars with fiat, and the pacifica minivan. driverless minivans. they are going to develop about 100 self driving prototypes. they will not license any of the google technology, but this is the test fleet. some people saying, driverless minivans, that is a snooze fest. you want to differentiate from tesla motors, you have to be boring. this is google's first tieups with a major kite -- carmaker since they started developing the technology in 2014. i feel like the wind market is going to sign market. soccer moms and dads will love this. how do you feel about this driverless minivan? yvonne: -- rishaad: even if it were fine, i love driving, so i am not really into this idea of being in control when i'm not -- seriously, not when it comes to generally day to day use, it is gre

yvonne?eah,: hi, there, angie, black rock has really had that goal since the start of the year. -- and here toth talk more on that is andrew swan, the head of black rock. this is something you have made calls on since the beginning of the year. have we passed the low point? andrew: good morning. i do think there are a couple things in favor right now. firstly, on valuations, where markets have been trading at historical trough valuations, if is look at the markets, it probably the most extreme we are seeing. valuations are probably very, very defensive. are out now or in defensive positions. thirdly, i think what is really important now is we have seen a bit of growth come back into the economy. not only in india with its own policies, but more importantly, the fed has changed her reaction to become more dovish. we are starting to see growth reemerge, although not really strong, but better than it has been in the last few years. yvonne: you have to see some growth momentum. are we seeing any

yvonne: that's true.t guest is the owner of one of the most renowned start of investment firms, living up to his name and backing hundreds of start of the year. joining me now is the founding partner of his own startup. great to have you here. we have been talking about this global funding chill. asia in particular sort of saw this slow down. >> maybe in a few places. yvonne: what do you see as the reason behind this? >> well, i think there are a few factors in the u.s. where there .as a lot of capital in china it was exasperated even everybody wasnk really hoping for the next and i think with the public stock market coming down. other parts of asia are still pretty active. we are seeing a lot of activity in asia and india as well. there are a lot of investors slowing their investments. >> i think it is to their benefit to say it is is kind of a self-serving story. we're not planning to know down at all we will do six or 700 this year and there are certainly places where valuation is changing that there a

let's get the first word with the yvonne man. yvonne: thanks.eral reserve president is opposing sides of the policy debate for an interest rate increase. eric rosengren and esther george are delayinghey action. >> we are in a world with policy and state anywhere in the world, coinciding with china, europe, making a bad decision -- it is going to influence our financial markets. it will influence our economy. not that we expect them to make bad decisions any more than they would expect estimate by decisions. we have to be aware that as we raise rates, there may be more financial market turbulence. >> moving rates to a more normal level, at a gradual pace, i think is absolutely necessary to minimize distortions within our economy, that can build over a number of years. presidentting brazil has appointed a former central bank chief as the new finance minister. his task was pulling the nation out of its worst recession in a century and winning back investor confidence. dilma rousseff spoke to the nation and her supporters yesterday after being suspe

rishaad: thanks for that could, yvonne man. -- things for that, yvonne man.evron and shell are said to be among the companies involved in qatar's oil sale. bloomberg news energy reporter mohammed surry joins us. he is on the line. when can we expect a decision on this? reporter: we can expect a decision on this later this year, probably later this summer. the executive's right now and petroleum are deciding on which is the best fit. isus: why do you think it that this is attracting such interest? every oil major we spoke to at bloomberg is cutting capital expenditure, trying to predict dividends, but here they are bidding on this qatar outfit. reporter: from what i understand, there are not many 300,000 oil barrel producing sales right now in the world. thereing to my sources, is cooperation in the og any industry. -- oil gas and energy industry. qatar is one of the smaller crude producers in opec at just about 16,000 barrels per day, but it produced those 1.3 billion barrels, making it the biggest exporter in the world. it makes qatar petroleum, the producer

manus: yvonne man in hong kong.a: the fed may delay in interest-rate increase until later in the yearas it eyes risk associated with the brexit vote and the u.s. presidential election. the pimco head of portfolio management for emerging asia. the biggest british lobby for business, the cbi, cut its forecast for the british economy, saying the eu referendum has put a "dark cloud of uncertainty over the outlook." it now sees gdp rising 2% this year. manus: mark carney has defended the bank of england against political critics furious about his warnings about dangers posed by brexit. he says leaving the eu could trigger a recession in the u k. the bank of governor spoke to the bbc. if we are taking a judgment as a committee, and changing policy because of it, putting billions of pounds in liquidity facilities, getting banks to raise capital, as we did a few years ago, against these types of risks -- if we are potentially going to alter the path of interest rates or other instruments of monetary policy because of certai

hi, yvonne. i'm jamie. >> jamie, hi. how are you? >> nice to meet you.eard you're the bird lady. >> i am that. would you like to meet my kids? >> i would like to meet your kids. >> come on. >> oh, thank you. look at all these guys. oh, hello there. who's that? >> he says, "i'm bogie bird." and he says, "i'm the senior bird here." >> bogie is a 34 year-old double yellow-head amazon parrot. while he's older than yvonne's two cockatiels, he's still a youngin' among the parrot breed, who can easily live for 60 years. when yvonne first adopts bogie from a bird sanctuary, in 2013, she worries about making a commitment to a pet that could very well outlive her. >> at my age, i thought, "how am i gonna make this work out? these guys can live to be 60 years old. i'm not rich." >> so, will bogie become a strange inheritance? yvonne is worried that her cherished parrot will get discarded, like columbo. and what about columbo? >> it must be costing you a fortune. >> columbo's not cheap, and we never, ever, ever, in a million years, thought we'd be here. >> and? >> h

the yvonne man is here.cials say for mcmurray has largely survived the devastating wire buyers. -- wildfires. almosttwo and a half -- 2000 buildings have been lost, but schools and hospitals are intact. companies that took production off-line, including, go, are already planning a restart. conoco phillips, are already planning a restart. the navy is having a dispute in the south china seas. china has created an island out of a reef by dumping thousands of gallons of sand and coral, also building an airstrip. they say the voyage was a freedom of navigation operation in what they consider international waters. the investigation into the cyber theft of $80 million of bangladesh has found three hacking groups, two from nationstates. hackers say it is the third identified group that full off the highest. -- the heist. digital fingerprints of those from pakistan and north korea have been found, but it is unclear if the third is a criminal gang from another nation. powered by over 2400 journalists in over 150 burea

. >> reporter: yvonne hamill is not just painting here.king a political statement. >> i want to change it into hope. >> reporter: she wants people to know that east palo alto is much more than a crime rate. >> i see all of this and i love it and i'm here and this is my home. so of course i don't want to lose it. >> reporter: she lives where the sillicon valley meets the ghetto. >> i realize how much i love my hood until they tried to build it up and tear us down. >> there are a lot of community members that really care about where they're from and they live positive lives for fulfillment and beauty. >> from east palo alto. >> reporter: including yvonne. but she was a lot different when she first met community leader isaiah phillips. >> it was hard to work with her, you know, sometimes. you know? just because -- >> reporter: a lot of anger? >> anger, a lot of, um, a lot of hostility. >> 15 people in a three-bedroom house. >> reporter: anger came from pain. >> i was used to living [ indiscernible ] at school. i was used to dealing with fight

yvonne: you mention innovation. seen the startup system in hong kong grow exponentially in the last six years. when it comes to innovation, the entrepreneurial spirit, do you see that hong kong has that competitive edge? >> absolutely. hong kong is based on entrepreneurship through its history. we definitely see the fundamentals of hong kong in terms of supporting entrepreneurs. regionally from our perspective, singapore is a regional of and what we say is pick the region most applicable to you in terms of your addressable market, where the customers are. .hina's new program availability for capital is one thing but acceptability is another thing. they see a lot of the early stages are self-funded. bc is not far behind as well. where do you see that as a challenge? is it a challenge in your eyes in hong kong? perspective,rtup we are at this stage of capital raising. there is been some volatility in the later stage markets but we haven't seen a drop or an increasing difficulty and fundraising. what we keep coming bac

yvonne's not. a godly person, but she got a big heart, so she let the home boys that didn't have a place come to her house, so that's how i met her. >> before me and him hooked up together he was telling me about his life. he had a drug problem before. he never wanted to go back to it, you know. i'm like, okay, i can deal with that, you know. but then he started hanging with the wrong crew, with the wrong people, and that's what's -- i guess he started getting tempted, and that's how it started. >> good, good. >> where's the little man today? >> he's at his auntie's house today. >> good for him. >> yes. >> anything in your pockets? >> just my key. >> your just key? okay. you enjoy your visit. have a good day. >> i will. >> noncontact visits are usually inmates that are just arrived or inmates that are on disciplinary housing units for various reasons, whether it be gang related or they're under protective custody. these inmates are required to be behind glass. and they, basically, they're speaking

yvonne: he says no.continued to talk about their lehman crisis even after the fact that the g7 didn't buy it. he could not get that language into the communique. instead we heard leaders declare in this document that they have strengthened their resilience of the economies to avoid falling into a crisis. try to fixthe g7 this coordination, but trying to get that recipe on boosting growth, that remains tangled over geopolitical tensions. david: they did not get the language of crisis in, but in the 11th hour, they added the uk's referendum about leaving the european union. what happened with that? yvonne: that is right, and david cameron really got the last my effort to get that added in. they added a line that says brexit is a serious risk to the global economy. it was a good weekend for the prime minister. he was able to get support from the g7 when it came to china's steel overcapacity issues. the g7 saying they will tackle this excess, which has been fueled by government subsidies and support. not sin

anna: yvonne, thank you very much. tabs on theeeping g7.hris watling, ceo and chief market strategist at longview joins us now. thanks for coming in. really fascinating conversation. gompted by the g7 and other events. this time, a story we have in a bloomberg about how angela merkel has fewer pro austerity allies this time around, justin trudeau looking, as they say spending on investment for structure and the like. where are we about how much global austerity should be the theme? how much government should be doing more spending to help central banks> chris: i think we are shifting. clearly, the consensus three years ago was all austerity. we are now moving. the debate is changing. the feeling is not enough global demand in the world. and governments need to do something, terry policy is running out of bullets. fiscal is the last alternative. having said that, i don't think -- it is hard to see a consensus for fiscal stimulus. we did not get me from finance ministers or the central bank government on consensus across the board. and really

. >>> yvonne is not just painting , she is making a political statement. >> i want to change the feelingof hopelessness existing here. >> he wants people to know that east collazo is much more than a crime race. >> i see all of this and i love it and i am here and this is my home, of course i do not want to lose it. >> she lives with the silicon valley meets the ghetto. >> i realize how much i love my hood until they try to build it up and tear us down. >> there are communities that care about where they are from and they live lives full of fulfillment and beauty. >> including yvonne, but she was a lot different when she first met community leader isaiah phillips. >> it was hard to work with her sometimes. . >> a lot of anger? >> anger, a lot of hostility. >> 15 people in them three- bedroom house. >> anger came from pain. >> i was used to dealing with fighting and sing drug abuse in school and actually losing people and having to deal with someone being murdered and it was so close to home. that is what hurts the most. >> it was her uncle and his murder made her see something had to cha

yvonne: it could drop back when supply disruptions are fixed.aying the bottom and we have been in the middle to high $40 level for a while now. it makes you think it will be that much of a difference? talking aboutre supply, the other side is demand. talking about demand globally for gasoline. people are buying bigger cars, emerging markets are buying more cars. gasoline demand is rising quickly and we are adding one million miles a day of demand globally. that is having an effect of bringing the market back into balance more quickly than analysts expect. vonnie: will we see that through summer driving season? that is where we focus every year, but this year it feels like a sidebar. will: it is a sidebar. what we have seen is gasoline demand be strong. people are buying cars and driving more miles. into the driving season, you will see that trend accelerate. really strong gasoline demand numbers this summer. mark: let's start with this chart. it demonstrates the convergence in prices of iron ore and gold. it is an absolutely fantastic chart. iro

caroline: yvonne, thank you. interesting, for what's happening in certain central banks in europe and the u.s.. two regional federal reserve unopposed, usually have made separate but similar cases for an interest rate increase. they argued that the central bank risks had delayed action for too long. >> we are in a world where policy mistakes anywhere in the world are going to influence us. if china or europe make a bad decision, it is going to influence our financial markets, and it is going to influence our economy. not that we expect them to make bad decisions anymore than they would expect us to make bad decisions. so we do have to be aware that as we raise rates there may be more financial market turbulence. >> moving rates to a more normal level and an aggressive pace, i think, is absolutely necessary to minimize distortions in our economy that can build over a number of years. let's kick this around. the deputy chief investment officer at black rock joins us now. good morning. what happens if the fed raises

yvonne man.aking to bloomberg tv, he said there could be an opportunity if beijing follows through with plans to sell the loan as asset-backed securities. >> i am very interested in china , in terms of the distressed loans. the government has announced they are trying to develop a program to securitize the distressed loans and their. if they do that, with transparency and with reasonable pricing, that will be very good and for the chinese banks it will create an opportunity for people like ourselves. wilbur ross getting interested in china, does that make us worried? >> you have to listen to him. my response is there will be a lot of those loans. there is a lot to choose from. guy: what is your sense of, we're looking at a global economy that looks like it is more stable. the u.s., the fed thinking about raising rates. -- the size and scoped of the debt story is what is worrying people. and scoped of the debt story is what is worrying people. mark: it is going to rumble on it we saw markets get c

angie: yvonne man live in tokyo.he g7 finance cheese failing to reach consensus in japan, the yen there's are starting to falter. we have a look at the charts. the recent pullback may just be temporary? haidi: that is a concern that perhaps the wrist bite we have had so far is just short-lived. take a look at where we have been. the did manage to rally 12% against the u.s. dollar before pulling back at the beginning of may. we have seen those gains pared to 9%. if you take a look at what we are seeing in terms of the risk reversal, that is rising over the next six months to the highest in four years, so that does tell us that traders are becoming more wary where the yen goes from here. all of this does rely on what the boj does and what the fed does as well. if both or either one of the central banks move, then we will see that correlating move in the yen as well, and also the dollar. seen as fundable in the short-term -- as vulnerable in the short-term. as you say, a lot of this does rely on the dollar. angie: upsid

yvonne: we also see a low jet fuel criteria i know that -- you usually don't hedge. it is a right time to do so? will you change the policy? gary: i mean, speaking for the emirates group and emirates airline, we are not hedged. and at the moment we do not intend to. the trouble is you can get caught up in the day-to-day movements of it. yet the look of the fundamentals. those airlines that did hedge in the past have suffered. and the results have suffered. we take the view that fundamentally we do not see a great deal upside to oil prices right now. but time will tell. you know, this is really a game of russian roulette. nobody really knows what is going to happen. manus: on delivery, tell me how this is going to be financed? cash, loans, what is the complexion? gary: you answer the question really. the thing about the aircraft, that is the size of many airlines. it is a massive number of aircraft, a massive capacity. and we have not actually make any plans to tap the bond market right now. but we have already mandated, or have firm offers, for all 36 aircraft in pla

yvonne: he says no, really.continued to talk about their lehman crisis even after the fact that the g7 didn't buy it. he could not get that language into the policy communique. instead, we heard leaders declare in this document that they have strengthened their resilience of the economies to avoid falling into a crisis. we did see the g7 try to seek some coordination, but trying to get that recipe on boosting growth, that remains tangled over geopolitical tensions. david: they did not get the language of crisis in, but in the 11th hour, they added the u.k.'s referendum about leaving the european union. what happened with that? we had seen an earlier draft that did not have that language. yvonne: that is right, and it seems like u.k. prime minister david cameron really got the last effort to get that added in. they added a line that says brexit did pose a serious risk to the global economy. it was a good weekend for the u.k. prime minister. he was able to get support from the g7 when it came to china's steel over

yvonne: he says no.continued to talk about their lehman crisis even after the fact that the g7 didn't buy it. he could not get that language into the communique. instead, we heard leaders declare in this document that they have strengthened their resilience of the economies to avoid falling into a crisis. we did see the g7 try to fix this coordination, but trying to get that recipe on boosting growth, that remains tangled over geopolitical tensions. david: they did not get the language of crisis in, but in the 11th hour, they added the u.k.'s referendum about leaving the european union. what happened with that? yvonne: that is right, and prime minister david cameron really got the last effort to get that added in. they added a line that says brexit is a serious risk to the global economy. it was a good weekend for the prime minister. he was able to get support from the g7 when it came to china's steel overcapacity issues. the g7 saying they will tackle this excess, which has been fueled by government sub

yvonne: we saw that data on friday was not helping.er, inflation contracting, retail sales expected to be in negative territory on month, falling 6% on the year. we will continue to watch that. haidi: thanks. we do have retail sales numbers for japan coming through closer to the top of the hour. from japan to china, analysts concerned about the rising risk of a default chain reaction in china. another risk bubbling away. we talked something about last week when i was at the morgan stanley china summit, the risk to the banking system, and is a banking crisis possibly looming in china. and influential ratings analysts talking about the nonperforming loan situation in china being much worse than the government figures of 1.75% of outstanding lending. she says it could go nonperforming by the end of the year. why is this tied to the possible default? a lot of these liabilities are tied into wealth management products. guy rock a did last year, issuing 3500 new wealth management products every week in china last year. the industry went from

yvonne: he says no.ll still continue to talk about this lehman crisis even after the fact that the g7 didn't buy it. he could not get that language into the communique. instead, we heard leaders declare in this document that they have strengthened their resilience is in their economies to avoid falling into a crisis. we did see the g7 try to fix this coordination, but trying to get that recipe on boosting growth, that remains tangled over geopolitical tensions. david: they did not get the language of crisis in, but in the 11th hour, they added the language about the u.k.'s referendum about leaving the european union. what happened with that? there was an earlier draft that language. yvonne: that is right, and prime minister david cameron really got the last effort to get that line into that communique. they added a line that says brexit is a serious risk to the global economy. it was a good weekend for the prime minister. he was able to get support from the g7 when it came to china's steel overcapacity i

yvonne: really not much happened. it camef appetite when to coming up with a global response on growth. we saw a lot of fiction between the u.s. and japan. we heard from the finance minister, continue to talk about the yen, the recent move had been one-sided, speculative. they did have a meeting with jack lew and he did not think that way at all. he said the disorderly movements, we are far from it. let's listen to the finance minister of japan. there are no peter discussions between us. betweenated discussions us. natural to have gaps in perspective. the only difference between the u.s. and japan, the u.s. dollar is a reserve currency. >> downplaying the friction a little bit on that soundbite. the tensions were a bit high. the sharpest dissidence we have seen between the two countries. they probably just agreed to disagree. very different from what japan was saying. global growth is going to be top of the agenda as well as foreign policy and climate change. we will see if we get any kind of consensus. angie: the u.s

yvonne man is taking a look at this. gold is up something of a tear.ake a look at the past week or so, you can see momentum building. at the golden hearing yellow. -- you look at the gold here in yellow. this was on friday, quite a bit of an advance, two months or so. thursday, we trackback to april 28. this is what we saw, this divergence when it came to the dollar index shown in green and gold, when the two paths crossed . and what happened, a double whammy on the dollar. we thought the fed dovish when they kept rates on hold, softer eco-data coming out, so u.s. more cautious when it comes to the second rate hike. and the boj's running markets -- stunning markets. more pressure on the dollar, so we see fall back, divergence to the rest ofd the week. those are huge issues that are going to support the price of gold and silver as alternatives. raw a look at the other materials as well. we have silver. that is also on a tear. we have seen the diversions as well with the dollar index, and silver reaching to its highest level in more than a year. people h

so jen stopped by yvonne o'connor's studio. >> you can understand why yvonne o'connor and see her lemonadedesigns and says on the weekend we are not dressing up, dressing for the occasion. you you are mad at us in philadelphia. >> i think that we can definitely do better and put a little bit more effort. >> spirit of philadelphia, place hees like that there is places to go if we need to dress up. >> spring marks the start of the social season. there are always events we have to attend. we have to look fabulous, absolutely. >> you are a stylist. this is ridiculous off the hook amazing and you think this is the kind of thank we should be wearing. >> i mean, yes. >> yes. >> you want us to embrace us and inner rock star kind of thing. >> absolutely. it is all about making a statement in everything you do so dressing can definitely help you with that. >> some of the things to incorporate the comfort, this is what you qualify as comfortable wear. >> yes, it is new jersey, jersey is one of the most comfortable fabric on the planet you want to us get out of our leisure. you recognize that is where

yvonne: good morning.o-show for jack ma, canceling a keynote speech on fake goods with two days notice. alibaba members complained about fakes. alibaba says it is working to erratic kate -- eradicate counterfeit goods. accused alibaba of being too slow, difficult to use, and lacking transparency. for the white house reaches oregon and kentucky with every clinton trying to break bernie sanders winning streak and secure the democratic nomination. the race is said to be too close to call now, separated why only a few hundred votes. trying to geten it towards unexpected election contest towards donald trump, but sanders has vowed to stay in the race, forcing the democratic front runner to keep an i on the primary campaign. mored trump claims he made than $500 million over the last year, but not too many details on how. the republican presidential nominee says he filed his required annual financial disclosure with the federal election commission. mitsubishi motors were lower in tokyo, unchanged at the moment. p

yvonne is there now.e: we are seeing that fertility rate crawling back up. 1.46.e to a woman having on average 1.5 babies during their childbearing years. zerois inching up about point 04 percentage points from the previous year. the health ministry thinks it's a small rebound and seems to think abenomics has some thing to do with this. the economy was recovering. there was a lot of euphoria at that time in the number of inies being born, 1,005,625 2015. interesting enough, we do see the biggest contributor to the andge our women's aged 30 34. still reflecting this trend women are still putting off marriage and having a child until their early 30's. and interesting, small improvement we see here. on the flipside, we do see fertility rates up but we see deathsjapan has -- and in japan have risen. the population still shrunk some 285,000. the small rise we do see in fertility rates still failed to do this shrinking population trend we have seen. -- they want to raise that fertility rate to 1.8%. rishaad: th

yvonne: all inflator's have to be replaced before the turn six years old which is when the risk of rupture increases. it was having a tough time catching up. analysts say it would have taken until the end of next year to replace those parts. the company saying that they face "severe challenges" with this latest batch and analysts say the stock has lost 75% of its value in the past year. rishaad: let's have a look at what is going on with rio tinto. -- there is a possible decision on the mongolian coppermine being closed. paul allen is there. how likely is the decision on this today? paul: the planets are aligned. the mineion to expand has been stalled for 18 months after rio tinto and the mongolian government disagreed on how to proceed. that this agreement was cleared up at the end of last year. rio tinto said they would be a decision in the june quarter. the planets are aligned. there is a lot of business to get out of the way as well. the chief executive is stepping down. he says it is a challenging time for the company. >> there is no doubt in my mind that the year ahead will be a toug

yvonne man was at the talks for us and what happened yet go yvonne: not much appetite really when it a global share strategy on how to combat growth. the world's largest developed nations agreed on some things, not going into a currency war. he agreed on some geopolitical risks to the economy when it came to the brexit, terrorism, and refugees. watch appended knock it was a blessing from the g7 nations on what it should do next in terms of the policy levers and they should pull to stoke growth in japan. we saw a lot of tension over the yen among the most developed nations. the finance minister saying, the recent move of the yen has been one-sided, speculative. he did have a bilateral meeting with the u.s. treasury secretary jacob lew with him saying, the notnt move in the yen is overly volatile and there is a pretty high bar when it comes to what constitutes disorderly movement. take a listen. [speaking japanese] >> there were no heated discussions. we have different views about the exchange rate. his natural to have different interests pretty only difference between the u.s. and jap

yvonne: we have a heavy hitters in politics.

yvonne mann, bloomberg tokyo.7 minutes away from the equity session in europe on monday and stocks have been up as much as .4%, and down as much as .8%. we had the biggest gains in a month on friday. the second consecutive weekly gain at the end of last week. , and this falling tells the whole story today. technology companies are rising, amf dialogue among them are too. they are gaining after the report the iphone maker has asked suppliers to prepare production for a new version of its smartphone, auto is falling today, yet chrysler leading that drop after german papers reported the german transport authority accuse the carmaker of manipulating pollution admissions. this is what's happening in the currency markets. one month to the referendum, sterling is lower today against the dollar. the euro was down against the pound. in the bond market, and justin moves in the greek bond market. the 10 year yield on the greek 10 year is 7.21%. we had lawmakers on sunday approving measures, austerity measures. will that lead

yvonne: we have a heavy hitters in politics. >> when we are asked to fight with two arms tied behindair.

yvonne: we spoke with dr. schiller during the g7.said two years ago there was an initial euphoria when it came we see aics, and now stronger yen up 9% and exports have declined for the past seven straight months. shipment figure was quite disappointing, down 10.1% for april, which is worse than expected. we saw exports to the u.s. as well as china falling. exports to china falling 7.6%. we did see some supply constraints during april after those earthquakes. that might have restricted or effected some shipments when he came to car parts and electronics. it was the drop in oil prices that dampened imports even more, 23.3% down in imports for the month of april. oft leaves a trade surplus 7.5 billion dollars, bigger surplus and we saw in march. that is nearly 2.5 billion dollars more than what economists were expecting. this goes to show the pressure that the prime minister has to revive growth, especially after he did not get the blessing from g7 nations when it came to what policy levers they should pull next to revive growth. of ten

yvonne: he says no. tol talk about this lehman crisis even after the fact that the g7 didn't buy it. he could not get that language into the communiquÉ. instead, we heard leaders declare in this document that they have strengthened their resilience is in their economies to avoid falling into a crisis. we did see the g7 try to fix this coordination, but trying to get that recipe on boosting growth, that remains tangled over geopolitical tensions. david: they did not get the language of crisis in, but in the 11th hour, they added the language about the u.k.'s referendum about leaving the european union. what happened with that? there was an earlier draft that language. yvonne: that is right, and prime minister david cameron really got the last effort to get that line into that communiquÉ. they added a line that says brexit is a serious risk to the global economy. it was a good weekend for the prime minister. he was able to get support from the g7 when it came to china's steel overcapacity issues. the g7 sa

yvonne: the g-7 numbers didn't quite buy it.he mention the lehman crisis, saying the world is on a downward spiral to a 2008 like event. if the appropriate policy measures are not put in place. we didn't see any mention on the policy communiquÉ. no mention of these high crisis is. the leaders acknowledged there were risks. eigh on the global recovery. but the g7 has strengthened their economies to avoid falling into a crisis. as you mentioned, global economy . top of mind. also, fx. basically saying, excessive disorderly moves have a bad impact on the economy. that is something the japanese finance minister had refrained -- expressed. sawsame kind of views we but still no nod in regard to currency intervention. what response we are hearing, it looks like it is going to be a policy mix. including monetary, fiscal, and structural reform. some of theseh of nations has to go accordingly to each nation's condition. not one prescription on growth. they did reaffirm monetary policy is not the only game in town and alone cannot need to

what are they doing -- yvonne: it seems the u.s. is nuts -- showing much sympathy when it comes to currency manipulation. that germany as well as china has been put on this watchlist for currency manipulation. the finance ministers meets in about an hour from now. when it comes to what this what has official said it is basically that global growth in trade flows are weaker than it should be that this really shouldn't be something they should be doing because any movement can signal they're trying to boost competitiveness and ultimately this is not going to help when it comes to the recovery in the global economy. like intervention and currency exchange does not dominate the headlines here. the bank of japan governor -- he of declined to comment and avoided the question altogether. he did talk about the policy of little bit talking about how negative rates are working. to policy makers other countries and they understand the negative rate policy. we are ready to take any actions if necessary, anytime. referring to the topic of brexit

now live with more is yvonne. what has washington been saying?opinganese, who were this event, must feel very scrutinized going into it. certainly., the u.s. did not single out japan particularly in the statement, but are ramping up .he rhetoric ahead of g7 central bank governors and the finance ministers meet later on in a couple of hours. right now, those leaders are touring some of the areas hard-hit by the 2011 earthquake and to nami. part of the reason why japan decided to host the g7 in sendai, to show just how far the recovery has compassed a back to economic policy, we started off and picked up the event last night with a local tradition here in japan, the dashing of the panels. japan'ssee a dashing of economic policies, that seems unlikely. we'll heard from some central bank governors that say this is not high on the agenda even though japan has hinted that it will put the brakes on the currency this year. we also heard from boj governor last night's big to reporters here and sendai, who try to avoid a question about asset policy saying