support zuma. whip of the anc come out against president zuma. we have had the anc secretary-general and treasury come out against president zuma. suchn south africa in volatile times, there are so many rumors and false information, security reports, it is a difficult environment to discern what is going to come out. quite frankly, what do you believe? question.inal from the moment that we saw nelson mandela walking out of 1990 and we9 and look to where we are now, was trajectory that would start to fragment. in many ways, south africa is in a better place, it isn't the place where russia is with a strong man leading a that no one to stop them. turkey asstory in well. you have lived through this. what is the trajectory? is this inevitable? we have very strong institutions in south africa so i wouldn't make a direct comparison because the institutions do work in south africa. havehen any organization achieved their central goals, which the anc was overthrowing the apartheid regime, it is difficult t

he is a supporter of president zuma? absolutely. worried about is that he will turn a blind eye to some of the corruption which character rises this administration. will the vote of no—confidence happen? this administration. will the vote of no-confidence happen? not immediately, parliament is not sitting at the moment and the speaker is a close ally of president zuma. we will watch this space and any news we will update you. toshiba shares fell as much as 9.4 percent this morning, before recovering somewhat, on reports that it may miss its earnings deadline for the third time. it's now expected that its shares will be demoted to the second section of the tokyo stock exchange in august. mriko oi is in our asia business hub in singapore. the third time it is missing the earnings report that what does it mean? surely it will get into trouble with the authorities? mean? surely it will get into trouble with the authoritie57m basically means its shares of will likely be demoted to the second section or even face delisting later this year

talking of the political realm, what is presidentjacob zuma doing?ntjacob zuma doing? what is behind the reshuffle and is he to blame? you know, a permitted leak on for the whole recall of the finance minister from for the whole recall of the finance ministerfrom the for the whole recall of the finance minister from the international roadshow —— admittedly. we saw this before, south africa was on an negatively watched. they were looking at other offenders including wea k growth looking at other offenders including weak growth as part of the reason of those downgrades but that this is actually created a situation where they pulled the rug under the feet of south africa in terms of ratings asa of south africa in terms of ratings as a result of these heightened political risks. you will meet the new finance minister later on today. what are you hoping? basically, the question is, and you are a cheap economist so you would know, how you turn that africa around? —— south africa. well, it's a tough environment and it requires what happened in 1998 west sou

upping the pressure forjacob zuma to step down.essure forjacob zuma to step down. it is going like now, everything is like a circus in south africa. but it wasn't all hostile voices today. outside anc headquarters in johannesburg, loyalists dressed in military fatigues sprang to defend an embattled mrjacob zuma. all this after top anc figures broke ranks, publicly slamming his controversial cabinet reshuffle last week, which has sent investors into a panic. but the president is going nowhere. it looks like business as usual, but after a stern warning, his critics in the anc have had to backtrack with raking party ranks. the secretary general was forced to apologise for airing the party's dirty laundry in public. the public distance was a mistake that should not be committed again. after a dramatic week, protesters here are trying to keep up the momentum. a vote of no confidence is still on the cards, president jacob vote of no confidence is still on the cards, presidentjacob zuma has rained his critics and, seizing back control. so

i think that is part of zuma's playbook. how concerned are you about south african brakes and the feedthrough to the rest of the economy and the general political crisis? the political crisis is not going to be a financial stability crisis. banks remain well-capitalized. their funding costs will go up. into the economy is going to be lower growth sentiment, weaker consumer. we are not talking about based on -- a sudden stop balance of payments. south africa still has heavy capital controls on locals, which prevents mass outflows from occurring. it means investors who have too much offshore already have to bring it back on shore. protection.grees of we are talking about a level repricing in risk. nejra: the head of emerging economics at nomura international. falling, the land falling-- rand falling. trade on to her. theresa may leads a global brexit roadshow. mp's slam her assertion that no deal is better than a bad deal. ♪ u.k. trade secretary says asia-pacific has become the most important region in terms of the level econo

what is your read on what zuma is playing at here?nds in south africa and i think this is nothing less than a fight for the soul of the country. , by firing a finance minister and putting in another finance minister who is clearly within his sphere of influence, it is clearly destabilizing the country. timely's move is very because of the one check on these decisions could be the market reaction. severe reaction could make the inner circle understand what they are playing with. the fabric, the institutional fabric of the country is at. movest: what kind of could jacob zuma make because of the downgrade by s&p? and we know beauties is going to be publishing its rating. >> there are a couple of things in play. there have been calls from the opposition party for a no-confidence vote. and people who don't agree with what zuma is doing are feeling a little concerned. you need a swing 51 votes to get the nonconfidence but that mean for the entire government falls said there are some people who are not on board with zuma and there is clearly

jacob zuma has won support from the anc. according to people familiar with the situation, the embattled president survived calls for his resignation. they say he fought back that he didn't act adequately on a cabinet reshuffle. the u.k. chancellor says some members oppose reaching an agreement with the e.u. philip hammond who is in india to promote british business on bloomberg there are people on both sides who do not want a deal. jpmorgan's ceo says it is clear something is wrong with united states. , who sits on donald trump's business forum, says the u.s. is paying the price for bad decisions and there is understandable disenchantment with trade, globalization, and america's free enterprise system. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. i'm sebastian salek and this is bloomberg. nejra: thanks. marine le pen has been labeled soft on her plans to leave the euro during the second tv debate of france's presidential election. with all 11 candidates granted a h

zuma.op figures it broke ranks publicly slamming his controversial cabinet reshuffle last week, which has sent investors into a panic. protesters are trying to keep up the momentum. a vote of no-confidence is still in the cards, but president them a has -- seizing back control. just how much damage have these events inflicted on the anc? township and you might find a clue. in spite of everything, loyalty to the anc runs as deep as the -- which the authorities failed to collect here. this image may not live up to the image of africa many have dreamt of. south africa is a new democracy where old problems still need to be fixed. channels may have thrown a -- in the works, but propped up by a remarkable history, party laurence lee -- loyalty still runs deep. tim: let's return to the u.s. airstrikes on syria. a quick response from senators on capitol hill who received a briefing this afternoon. our correspondent has been there all day. what has the reaction did there? laura: generally supportive

. >>> jacob zuma is facing pressure to resign.he speaker of the parliament said she'll be considering a request to hold a request of no confidence. it comes as a controversial late night cabinet reshuffle seen last week in the zuma case last week. joining us live once again from johannesburg with the latest. good to see you. we've got nine cabinet ministers having been fired. and mr. zuma now facing a lot of pressure to resign. >> absolutely, louisa. and ten new ministers and ten new deputy ministers having been sworn in thursday evening in this aggressive cabinetry shuffle that's taken the international and local completely at surprise. coming in at local trade we're seeing pressure coming on that. i think the key question here is uniquely south africa new finance minister is incredibly important to understand the depth of his experience. nobody is questioning the fact that he does have 14 years of experience in cabinets. but they are questioning his financial acumen. he has a b.a. in education and a masters in social policy. the

jacob zuma may face a no-confidence motion. u.s.dent trump will meet his chinese counterpart, xi jingping, thursday amid speculation about north korea. all that coming up. this is bloomberg. ♪ guy: welcome back. 11 minutes into the session, the dax has just taken out its closing price. this is where we find ourselves, up by .3%. we are expecting a little more outperformance. we will see where the market closes tonight. the other stock i want to mention, you can see it in the cac in advance of the debates tomorrow night. the other thing that is worth mentioning is imagination, which we mentioned earlier, is under a great deal of pressure. i think it's worth paying attention to, it is down 64% at the moment. it looks like it's relationship with apple may not be going forward how they previously hoped. let's turn our attention to what is happening down in south africa. president jacob zuma may face a no-confidence vote. the rand low. let's go to johannesburg. there have been many attacks on the presidency by the south african oppositio

what is president zuma up to with all of this? why the moves?he to blame with what's going on at the moment? yes. look, if you had to go and basically do a prediction of why he's doing this, i think the general conspiracy theory is he is going to be out of power by december. he wa nts to be out of power by december. he wants to put his ex—wife into his position, both at the anc and in government afterwards and those basically would be in order to protect him from any kind of criminal prosecution thereafter. in order to achieve that goal of actually bringing his wife into power, you may need to indulge in patronage for his supporters and that could not be done with a finance minister in place because he would prevent some of the irregular expenditure that would be required to basically convince the supporters for both him and his wife in the coming election. 50 for both him and his wife in the coming election. so he's prepared to do all of that at the threat of hammering the south africa's economy. unemployment is 25%. i mean that's a whooper at

zuma is no longer the right person to lead the country. this after a major re-cabinet -- cabinet reshuffling. they said they have almost 2 million members. turning our attention to a dying craft in the netherlands, clogs are an important part of the country's heritage. there only 30 clog makers left for decades ago, there were thousands. , all of his former life he has worked in wooden clogs. clogs because they are warm, they are solid and your tolls are well protected and that are comfortable. symbol of holland, they have fallen out of favor and seen as old-fashioned. it is harder and harder to find craftsman with the know-how to make his dutch icon. >> there are about 40 people left who can make clogs by chance and that is an exaggeration. probably fewer. every are in the netherlands. >> nicole is a rear exception. he is one of the country's youngest clockmaker's. she learned from her father and she is doing her best to protect the craft. >> i think we have to hold onto dutch heritage. are around fries because people want to them. clogs,

president jacob zuma has won anc support in a key meeting, surviving calls to resign.to people who requested anonymity here. we are reporting that jacob zuma has won anc support, surviving a willto resign which continue regardless of this decision, but let's take a look because the rand is at an incredibly -- had an incredible week. the worst since 2015. how does it look now? guy: at the moment, not much reaction to be honest. we traded up to the near 14 mark, but the dollar is getting stronger as we go. we fated that rally a little but now we will start to watch this one. and iis an expectation have post this to a number of people talking about the fact that zuma is a political survivor, that he has managed throughout this entire process to keep his job and the expectation in the short term is that maybe that will continue. some of the key counsel voicing their concern in the last few days. yesterday, the big powerful unions in south africa may not be as behind zuma as they once were. this is a journey of many steps. this is just one of those steps. at the moment, we'

zuma previously purged his cabinet and fact his finance minister.hey are on review for a downgrade. global news powered by 2600 journalists in one 2000 countries. -- in 120 countries. this is bloomberg. ♪ tracy: u.s. secretary of statetracy: rex tillerson says direct action to stabilize syria will only be taken after the defeat of the islamic state. he says defeating the group is his first priority. friday's missile attack ramped up tensions with russia and iran. andrew barton joins us for more. whenever we see these missile strikes, the logical question is whether they could escalate. is there potential to launch an aircraft campaign for the u.s.? andrew: it looks like this is maybe one and done, in the sense that they used these tomahawk missiles to hit precise targets. using airplanes becomes more deadly. the advantage of the tomahawks is that you don't have to involve u.s. personnel. pilots involved, the risk of confrontation with russia escalates. they used to have this hotline between the two militaries where they would tell each other where t

there's growing criticism of south africa's president zuma from within his own party, after a reshuffletests in the street over his decision to sack the widely—respected finance minister pravin gordhan, who fell out with mr zuma over the economy. 0ur correspondent milton nkosi explained what this might mean for the president well, he is under a great deal of pressure tonight as his comrades are calling for him to resign. he has been under pressure before, for his lavish lifestyle, for example for spending public funds renovating his private home. but the sacking of the finance minister, pravin gordhan, is seen by many here as the last straw. this has also affected the currency, the rand, which has devalued by about 8% since the reshuffle drama began. there is also the wider implication politically for him, because opposition parties are threatening a vote of no—confidence. others are saying that they will institute the impeachment proceedings as soon as they can. president zuma himself has got factions within the african national congress that he is trying to manoeuvre around. he is, th

critical week for south africa — as its parliament considers a vote of no confidence in president zumawe talk you through what is at stake. live from london, that's our focus on monday the 3rd of april. protests are expected in south africa this week, and its currency, the rand, is out of favour, afterjacob zuma fired his respected finance minister in a dramatic cabinet reshuffle, so where next for one of africa's biggest economies? we are live injohannesburg for the latest. also in the programme, it could be a third strike and out for toshiba. the japanese tech giant's shares plunged again on speculation it will miss its reporting deadline for a third time. and financial markets have just opened in europe, we talk you through what is moving and why and weigh up the latest prediction that the pound sterling is due for a bounce back. powering the future. we'll be getting the inside track on a business which hopes to provide young companies with cheap renewable energy. and today we want to know, how green is your energy, and does it matter? or when it comes to choosing a supplier, is it

zuma and his cabinet would have to resign if they no-confidence vote succeeds. in france, marine le pen has described the euro as a deadweight and promised the french people will have the final word on leaving the french currency if she's elected. melenchon appears to be gaining ground. a poll on friday put him one point behind francois fillon. confidence among japan's large manufacturers improved for a second quarter in a row according to the tankan survey. from the previous period, though that was short of expectations for a reading of 14. the weaker yen helped profits rise to a record. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. i'm sebastian salek and this is bloomberg. nejra: thanks. scotland's first minister says the u.k.'s refusal to negotiate a date for an independence referendum is untenable and she vowed to keep pushing for a vote. nicola sturgeon spoke to anna edwards. >> scotland should have a choice over our future. when the time is right, when the terms of the exit from the e.u. are know

zuma westfall. #zumamustfall. amy: wednesday's protests came on zuma's 75th birthday and less than a week before zuma faces a no-confidence vote in parliament. and in new york, the first muslim woman to serve as a u.s. judge was found dead in the hudson river wednesday. police say sheila abdus-salaam was found floating in the river near upper manhattan, not far from her home in harlem. her body was fully clothed and showed no signs of trauma, although her family said an autopsy will determine the cause of death. judge abdus-salaam was appointed to the new york court of appeals in 2013 by governor andrew cuomo. in a video for the citizens committee for new york city, abdus-salaam recalled tracing her ancestry. >> researching that history, i discovered that i am the great-granddaughter of slaves. that is important because this great-granddaughter of slaves is the first african-american woman on the highest court of the state of new york. amy: judge sheila abdus-salaam was 65 years old. and those are some of the head

the rating agency was reacting to president zuma's purge of his cabinet.t an investment credit ratings downgrade is something south africa has been trying to stave off. of course that effort really didn't go well with s&p downgrading. also putting out negative outlook, saying they feel the willffle will mean there be policy changes that lead to lower growth, which s&p currently does not project. we will also have to see how policy changes coming up -- come up following the downgrade. downgradeing that the reflects political decisions. what are the chances of resolution anytime soon? what does this mean for other credit ratings agencies? >> we knew that moody's is expected to release its assessment later this week, possibly friday. there is anticipation among analysts they will follow suit as well. we know there is a lot of political uncertainty at the moment. as an zuma reshuffled his cabinet last week, firing the former finance minister. now we know the top anc strongly,came out criticizing and calling him to step down. these add to the political turmoil

he is obvious the zuma's man and s going to be of concern.is now a question of what his actions rather than his words are. at the moment, we have seen some comments by the new finance minister that he will try to stick to the country's fiscal path, but it will be about policies and actions rather than words. that is what the market will be watching. tracy: we have people speculate about whether we will get a downgrading to read how is this going to unfold? >> the rating agencies are not officially do until july, the first of the three big rating decisions. that is not to say something won't come sooner but it will be very unlikely. settles,e dust kind of to see where south africa is going fiscally and so on. this is on a total return basis. it tells a story of what has been happening with the south african rand. again outstory coming of latin america. it comes at a time of bond payments. we have been hearing that for a very long time. this is unfortunate timing. >> the state oil company has a bond payment of 2.5 billion coming due. what is in

reporter: after the shocking dismissal of his finance minister, jacob zuma is trying to put a positiveon a cabinet reshuffle that is threatening to plunge his party into chaos. >> i have decided to make changes to the national executive in order to improve efficiency and effectiveness. reporter: pravin gordhan's sacking is part of a broader cabinet shakeup that will replace 10 of the country's 35 ministers. the sweeping overhaul has triggered a crisis for south africa's ruling party, the party that has governed since the end of apartheid. gordon was widely respected as a finance minister, pledging to fight corruption, he enjoyed support among many in his party, as well as ordinary south africans. on friday, his supporters gathered outside the national treasury building to protest. gordon was defiant after his dismissal. he said he and his deputy had nothing to hide. >> this is the so-called intelligence report that said , amongst others, the two of us and the director general are involved in this massive conspiracy to undermine the economy of this country. and if you read this, it is a

and jacob zuma has come under fire after an anticorruption case. now they want to give up his job. ♪ sarah: thank you very much for joining us. stockholm is on lockdown at this hour. a crush -- truck crashed into the heart of the swedish capital causing multiple deaths. police are searching for the driver of the vehicle and have released a photo. they shut down the main train station as well as the subway system. sweden's prime minister is calling it a terror attack. reporter: the aftermath of another deadly truck attack, this time in stockholm. this is a major pedestrian street and the site of one of the busiest department stores, but police cover the debt. >> we were standing at the traffic lights, and we heard screams, then we saw a truck coming in at 50 to 60 kilometers per hour. then there were lots of people on the ground. it went along the pedestrian area before it hit a pillar and caught fire. we saw someone laying under the wheel. it was herbal. -- horrible. reporter: the attack lasted only a few seconds. >> something is happening. reporte

family linked to the in adent, jacob zuma, court battle against him but i wanted to intervene into myurt case for the bank has closed off the accounts of the gumpta family. that is what political motivation in itself. jacob zuma -- they have been at loggerheads when he was reappointed to his portfolio as finance minister at the time. that is been a feature ever since december 2015. ♪ ♪ erik: welcome back to bloomberg best. time erik schatzker. credit suisse held at asian investment conference in hong kong this week. the ceo said that with bloomberg's yvonne man for inexpensive interview. she asked how the bank is bracing for the uncertainties of brexit. ouror us, credit suisse, presence in london is quite old and large. we are engaged in a significant restructuring a. with quite a few in europe. we had opened a new center in dublin, which can be used will be transfer a lot of activity. we also have an office and luxembourg. -- in luxembourg. have seen the other banks like goldman sachs starting some of their contingency plans. they are moving to other european cities. will credit suis

mr zuma has faced growing pressure to resign since firing his widely respected finance minister lastto junk status. our south africa correspondent karen allen is injohannesburg. tell us more about the crisis? that that rating state is being moved to junk after the sacking of the finance minister, how much they crisis is south africa in? a lot of things are happening at once, the engine is gathering speed. you mention that ratings agency, last night one of the prominent ratings agencies downgraded that investment status to junk, meaning that it will be far more expensive for the south african government to be able to service its debt. money can be spent creating jobs and dealing with problems like housing and a lot of problems that south africa face and what has been promised to deliver on that. in conjunction to what happened this morning, we had a prominent voice in the tri— party alliance, the congress basically breaking ranks and saying it is time forjacob zuma to step down, which is significant because it comes hot of the heel of another alliance partner at the weekend to serve t

a family called the gold star -- called the gupta family, which is linked to the president, jacob zuma court battle against him, but i wanted to intervene into my bank -- that is political motivation in itself. but jacob zuma -- they have been at loggerheads when he was reappointed to his portfolio as finance minister at the time. that has been a feature ever since december 2015. ♪ ♪ erik: welcome back to "bloomberg best." i'm erik schatzker. credit suisse held an asian investment conference in hong kong this week. the ceo sat down with bloomberg's yvonne man for an exclusive interview. she asked how the bank is bracing for the uncertainties of brexit. >> for us, credit suisse, our presence in london is quite old and large. we are engaged in a significant restructuring. we have quite a few in europe. by coincidence, we had opened a new center in dublin, which can be used, and we will be transfering a lot of activity. we also have an office in luxembourg. we have options, depending on how brexit plays out. >> you have seen the other banks like goldman sachs starting some of their contin

. >> the south african president jacob zuma has fired his finance minister and eight other cabinets innight move that threatens to split the party. p/e was replaced by financial -- -- who has no financial or business experience. the past five days have seen the rand lose more than a percent is the dollar, but the credit is at risk. >> a family linked to the president, jacob zuma, in a court that against him, but they wanted him to intervene into a bank court case where the banks had closed off the accounts of the gupta family. that is one political motivation in itself. but jacob zuma -- they have been at loggerheads when he was reappointed to his portfolio as finance minister was reappointed to his portfolio at that time. that has been the feature ever since december 2015. ♪ ♪ erik: welcome back to "bloomberg best." time erik schatzker. credit suisse held at asian investment conference in hong kong this week. and ceo -- and the ceos had down with bloomberg's yvonne man for an exclusive interview. she asked how the bank is bracing for the uncertainties of brexit? >> for us, credit suis

after last week's massive cabinet reshuffle, president zuma may face another vote of no—confidence.lk you through what's at stake. third time unlucky? toshiba shares plunge in tokyo again on reports it may miss it's results deadline, for the third time. but first, rescue teams in colombia are continuing to search through tons of mud and debris for anyone who might have survived the devastating mudslides in the south of the country. in the last few hours the president has said 254 people are known to have died — 43 of them children. but he said they were still very much preliminary figures. the mud engulfed the town of mocoa, burying entire neighbourhoods, and further bad weather is now hampering the rescue effort. greg dawson reports. quietly and methodically rescue teams are still looking and listening for any sign of life in mocoa but the grim reality is the operation is about recovery of the dead as it is about rescue of the living. fragile families went outside to be allowed to identify missing relatives. translation: the really sad thing is when family members come and fight th

the speaker of south africa's parliament has postponed a vote of no confidence in president jacob zumaional court will rule on whether it can be a secret ballot. thousands joined demonstrations around the country calling on mr zuma to stand down on what was his 75th birthday. in a surprising development, iran's former president, mahmoud ahmadinejad, has put himself forward as a candidate in next month's presidential election. he says it's just to support his former deputy, but it looks like a challenge to the authority of the supreme leader, ayatollah ali khamenei. he's told mr ahmadinejad not to run. lawyers for the passenger forcibly removed from a united airlines flight have filed an emergency request in an american court for the airline to preserve evidence. the video of david dao being dragged by security guards has been watched hundreds of millions of times. the head of united airlines, oscar munoz, is insisting he won't resign. venezuela's president has been pelted with eggs as protests grow over a deepening economic crisis. opposition activists say nicolas maduro is becoming in

thousands joined demonstrations around the country calling on mr zuma to stand down, on what was hisg development, iran's former president mahmoud ahmadinejad has put himself forward as a candidate in next month's presidential election. he says it's just to support his former deputy, but it looks like a challenge to the authority of the supreme leader, ayatollah ali khamenei. he's told mr ahmadinejad not to run. lawyers for the passenger forcibly removed from a united airlines flight have filed an emergency request in an american court for the airline to preserve evidence. the video of david dao being dragged by security guards has been watched hundreds of millions of times. the head of united airlines, oscar munoz, is insisting he won't resign. police in germany investigating the three explosions that hit the bus carrying the borussia dortmund football tea m carrying the borussia dortmund football team on tuesday have detained a suspected islamic extremist. they are treating it as a terror attack. the match against monaco went ahead on wednesday night, amid shows of defiance by both

he must be one of president's zuma's puppets. are you zuma's puppet? >> let me be blunt. >> please. >> minister manuel what made him qualified to be finance minister in 1996? he was an engineer with two years experience in government. minister gordhan, what made him qualified? he was a pharmacist with no experience except being commissioner of the revenue service. i hold masters degree. i've been in government for 13 years. i was minister of public enterprises for four years. i have been minister of home affair force three years. i was deputy minister for home affairs for six years. i believe i'm very qualified to hold the job. i don't think i need to be defending myself. >> back home the newspapers continue to write you're not your own man, you're the president's puppet, you are only there because you will do the president's bidding and you will and -- >> i -- >> tell me here this is not true. >> i don't want to be framed in that way. i don't want to be framed in that way. i took an oath of office to the constitution of the republic of south africa. i

thousands joined demonstrations around the country, calling on mr zuma to stand down on what was his a surprising development, iran's former president, mahmoud ahmadinejad, has put himself forward as a candidate in next month's presidential election. mr ahmadinejad says he's only entering the election to support his former deputy. it looks like a challenge to the authority of the supreme leader, ayatollah ali khamenei. he's told mr ahmadinejad not to run. lawyers for the passenger forcibly removed from a united airlines flight have filed an emergency request in an american court for the airline to preserve evidence. the video of david dao being dragged by security guards has been watched hundreds of millions of times. the head of united airlines, oscar munoz, is insisting he won't resign. new zealanders are bracing themselves for more severe weather just days after cyclone debbie hit the region. this time, it's what's left of cyclone cook, now downgraded to a tropical storm but still packing enough destructive power to cause concern. a state of emergency has been declared in some are

today, members of the public are expected to take to the streets in protest of the move, but mr zuma's south africa has been downgraded to "junk status" by two of the leading debt ratings agencies — fitch and s&p. they argue that the reshuffle will hamper the country's efforts to manage its finances. the government's debt pile continues to grow and the loss of its "investment grade" status could have a significant impact on south africa's ability to borrow money on international markets. it means that major institutions such as pension funds and hedge funds may be prevented from buying the country's debt. we will have a lot more of this coming up. i bet you can't wait. in about 20 minutes time. here is something that can make your daily commute a bit more interesting. for decades, deutsche ban has been dominating. but this guy has been raising funds through at crowd fuzzing campaign to take them on. —— crowd funding. follow me on twitter. i will see you very shortly. in other news: the united nations says the west african islamist group, boko haram, has increased the use of children as

mr has been zuma is under growing pressure since he fired his widely respected finance minister lasthas opened a case against the former president, cristina fernandez de kirchner, and her two children on charges of money laundering and corruption. two business associates have also been named. all five have been banned from leaving the country. cristina fernandez has denied illegally amassing personal wealth while she was president. the national electoral council in ecuador has declared the socialist candidate, lenin moreno, the winner of sunday's presidential poll. with almost all results now in, he's got at least 51% of the votes. the right—wing candidate has disputed the results, saying it was fixed. india has dismissed a suggestion from america's ambassador that tensions between india and pakistan could we de—escalate had, through the us's mediation. they shave —— say they should resolve all issues ona say they should resolve all issues on a bilateral basis. in russia, investigators have named the man they suspect of carrying out the bomb attack on a metro train in st petersburg.

the postponement came after calls for president zuma to step down were made at mr kathrada's funeralfter the activist wrote an open letter saying he should quit. the activist was tried and jailed alongside nelson mandela in the 60s. president trump has signed executive orders which he says will crack down on foreign trade abuses, and bring down america's half—a—trillion dollar trade deficit. this comes after news that his former national security advisor mike flynn might be prepared to talk about russia's meddling into the election. our north america editor jon sopel reports. the allegations that just won't go away — that there was collusion between the russian government and the trump team during last year's election. and much of the attention is now focused on this man, general michael flynn. until a few weeks ago, he was the national security adviser, and one of those closest to the president. but his fall from grace has been swift, after he was found to have lied to the vice president over his contacts with the russians. michael flynn held conversations with the russian ambassado

the motion of no-confidence for jacob zuma has not succeeded. also know is that this cabinet reshuffle see has to unnerved a lot of people. it is really uncertain as to whether he will be able to survive his motion of no-confidence. if it succeeds, president jacob zuma and his cabinet will have to resign and lawmakers will decide going forward. joining us live in johannesburg. now it is time for battle of the charts. we have prepared. i'm going to start off in this battle. and going to pitch my work someis going to surround various concerns as well because he has been telling me he is concerned about inflation. get the extra content. this is a story that tells the skepticism of the market. mark -- crossing the 2% that is the line in yellow. that is the answer going down below the yellow line. -- a cautiousion view. they have been disappointed many times in the past. show me the money, as were. >> a great chart that i will have to add to that. companions and other of a tightening cycle. take a look at my chart. carry, take a listen and spirit we

the powerful south african trades union federation has called on presidentjacob zuma to step down.ng african national congress, says it no longer believes the president is the right person to lead the country. mr zuma is under growing pressure since he fired his widely respected finance minister last month. ajudge in argentina has opened a case against the former president, cristina fernandez de kirchner, and her two children. it's on charges of money laundering and corruption. two business associates have also been named. all five have been banned from leaving the country. cristina fernandez has denied illegally amassing personal wealth while she was president. in russia, investigators have named the man they suspect of carrying out the bomb attack on a metro train in st petersburg. they say akbarzhon jalilov was a 22—year—old russian citizen, originally from kyrgyzstan, in central asia. investigators believe he detonated a device that killed 1a people, injuring dozens, and left a second bomb at another station, which was defused. steve rosenberg has the latest. this is what chaos

zuma. as the tide turned against him?ps --version seismic shifts -- not seismic shifts but they seem to indicate that anything is possible. when the vote of no-confidence -- >> you think he should step down? >> yes. >> why? court judge him to have breached an oath of office. i believe that makes it difficult to command the kind of respect which would be able to various sections of the south african population. >> if mr. zuma stepped down, what would come after him and with the should they be encouraged by what's in line? >> yes. investors should be encouraged. , members of parliament willamette next -- elect the next president. important to elect someone who is honest and has integrity and is not encourage book. >> are there specific individuals who could step in and prepare, who have the expertise to run this economy more effectively than mr. zuma has done? comes current president from the private sector, he is an effective president. in the earlier days he was a general of the biggest trade union in south africa, the in

zuma may face a confidence motion. rand is lower. >> some top officials are speaking out against the cabinet reshuffle, saying he did not consult them, and speaking out against the firing of the former finance minister. critical as to whether this motion of no-confidence will succeed or not. >> do you think he should step down? >> yes, i do. they have charged him to have breached the oath of office, and that makes it difficult for him which wouldespect sections unite various of the south african population. >> s&p has cut south africa to jog, political risk front and center with growing pressure on jacob zuma to resign. >> we are concerned about the impact on the fiscal and economic story. it puts policy continuity at risk. there is an increased likelihood that economic growth and fiscal outcomes could suffer. ackerffrey l resigning today. he says i regret that in this instance i cross the line to confirming information that should have remained confidential. 12, like conduct was inconsistent with those policies. >> he

would zuma's resignation -- go ahead.t: i was wondering the same question you were about to ask. is there something that could stabilize -- i know your outlook is stable but there is there something that could stabilize the political uncertainty or bring that to an end? for example, sumas resignation. damageink a lot of the has been done. there will continue to be a lot fighting between the zuma camp and the other camps. that will continue to be very difficult to have all of the energy focus on what is important for the economy on fiscal confirmation and to support growth. don't really expect any major progress on that scale in that direction. even if there is a change in the presidency. senseld not react in any immediately to a change in the presidency. >> what do you expect? you highlight the possible so how likely is a recession? forecasting gdp growth for 2017. greater quite a bit downward risk on the forecast. it has always been for the last several years a big factor. companies did not really want to invest. they we

south africa postponed a no-confidence vote on zuma today.urity is being increased outside churches in egypt ahead of this weekend's easter holiday. it comes after twin church bombings in two cities killed 45 people. egypt has declared a three-month state of emergency following the palm sunday attacks. global news, 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i am mark crumpton. this is bloomberg. it's just after 5:30 p.m. here in new york, 7:30 in sydney. david ficklin has a look at the markets. david: here in australia, 00tures on the asa's -- asx 2 are pointing down. the nikkei, down. we are going to be looking at semiconductor. it is duking it out with intel for title of the world's biggest semiconductor company by market cap. sales in the first quarter missed their target. analysts expect to see the weakest performance for earnings quarter on quarter since 2013. we are going to be looking at fast retailing, not going quite so fast after growing sales at more than 20% per year for three ye

pressure on jacob zuma to resign >>.e are concerned about the political impact on the fiscal and economic story. it puts policy continuity at risk. there is an increased likelihood that economic growth in fiscal outcomes could suffer. >> richmond fed president monthsng today, six earlier than his planned retirement after he disclosed his role in a 2012 informationweek result -- regarding the fed's discussions. 2012, my conduct was inconsistent with those important confidentiality policies. >> he is saying he is not the leaker. he was presented with information by the analyst. he said he should have ended the conversation then, and the risk is that by not doing that somehow the information -- it is a nuance, a significant one. >> this is a very serious breach of information, highly sensitive information was given to an investment analyst on wall street who passed it on to clients who may well have paid money for it. i would say there is still a lot more to come. the fed released minutes from its march meeting earlier this

. >> president jacob zuma may face a no-confidence motion, the parliamentary speaker has asked for auest. the rand held low after falling drastically last week. >> some of the top officials of the ruling south african national congress are speaking out against the cabinet reshuffle, saying he did not consult them and more speaking out against the firing against -- firing of the former finance minister pravin gordhan. it is interesting whether this motion will succeed or not. >> do you think he should step down? >> yes, i do believe. the highest court in the land judged him to have breached the oath of office. that in itself makes it difficult for him to command the kind of respect which would be able to rally and unite the various sections of the south african population. >> s&p has cut south africa to junk, outlook negative. political risk front and center with pressure on jacob zuma to resign. >> we are concerned about the political impact on the fiscal and economic story. it puts policy continuity at risk. there is an increased likelihood that economic growth in fiscal outcomes co

zuma has done? guest: well, you know, the current president comes from the private sector and being a successful businessperson and he was general secretary of the biggest union in state africa, the national union of mine workers. and that's also been the secretary-general of the governing party. so he brings with him good experience. jonathan: thank you for your time. the former south african tlanthe. , kgalema mc alix: if you look at foreigners buying into south africa they bought $835 million worth oftla bonds last week, jay. when you look at the relative value in the search for yield versus the political drama, is it just noise to you? >> yes, it is noise. the search continues and emerging markets offer yield, not only south africa but the broader merging markets, bond index and the dollar, yields over 5.5% and in a yield where the treasury yield is 2.3, that's compelling. emerging market have been the epicenter of the anti-trump trade. the trade in the first quarter was to buy all the countries