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tv   Trending Business  Bloomberg  August 4, 2015 10:00pm-11:01pm EDT

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more work is needed if the yen is to gain global status. plus, build it and they will come. he urges india to raise spending. they will invested infrastructure is there. let us know what you do get today's top stories by following us on twitter. we saw a bit of a retreat, but they don't agree now, david. the worst, let's hope is behind us. things did start a little slower wasn't asite i guess robust this morning. if you things to note, we continue to follow this big story that the imf is considering pushing back that decision whether to include the fdr.
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10%, that is down affecting what is happening in new zealand. done about 4 billion. in july, you had a pmi dealer coming out of china. inflation was out of the philippines. .8% there was speculation they might cut. following, a we rate decision out of thailand, but the big one is in indonesia. yes, 4.6% is your forecast for that stop. asked income is really about a strong u.s. dollar. dennis locker was speaking with the wall street journal, he is
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basically saying the chances are we will get a rate hike in september. swap, weok at a rate are looking at even odds there. the swap market yields, on the way up. bond prices on the way down. up one basis point there. yvonne: commerzbank and the the yen reserve status this morning, but there was only a slight chance the currency will embrace its goal unless it embraces a more financial oriented system. its work was needed on reserves that his decision. juliet is even more. liette: those comments coming after the imf release its yearly review.
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it is trailing in major benchmarks it needs. the door have left open. it is proposing a delay that may make up a special drawing. until september next year, the imf is saying that they can make the transition smoother. hashe dollar, europe, yen been backed by nations including france. towards is urged china a flexible exchange rate. imf report also stated that the ultimate assessment will involve a significant element of judgment. bid, but the's yuan trails the majors. for status,
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currencies have to be widely used in major exchange markets. the report doesn't make any mention of china's efforts to skim their recent stock market route. lagarde who'sne in beijing's interventions should not derail the overall review. they were saying the proposed the leg until september next year does fit the stage for the imf to add the yuan just before chinese president. yuanank report saying volatility is likely to rise following this report because the was more speculation about an is going to enter the currency reserve basket. yvonne: we will check a more detailed look at that story later on. we want your opinion. use the hashtag #trendingbusiness.
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profitswe surveyed said fell last week. let's go to aaron clark joining us live from tokyo. great to see you, forecasts to fall, what do they think so? aaron: oil is up a little bit today, but the big stories affect the we are in this bear market. brent fell into a bear market, on monday fell below $50 a barrel since the first time since january. today, it is about $50 a barrel. the context for all this starts late last year when shell producers begin boosting production. prices are about half what they were last year. we saw recovery in april and may to around $60 a barrel. but the most recent tumble the drivenw weeks is being
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by many other factors. the first inspected the u.s. show producers. they're getting -- shell producers. they are getting more efficient. anduction still the rains 30 or 40 year highs. they're focusing on where the most oil is produced for the least amount of money. opec, let last year they change their strategy to defending market share. to do that, they're producing at record levels led by saudi arabia so that they can secure demand, particularly in asia. the third factor for the lwoer that demandoncern may be falling. couldowdown in growth reduce demand.
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we are to refinery maintenance season with it will shut all plants down in the springtime in the fall for maintenance. can shut down places between august and october. that can reduce demand even more and have a further effect on prices. yvonne: a cooling. for those u.s. refineries. thank you so much. let's take a look at some of the roundup.ries with the david: particularly southeast asia, a major developer based in you for says problem from continuing operations rose in the quarter nearly 6%. that is higher revenue from its shopping residents of -- businesses. its net income climbed in the three months. developerore-based
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has simplified its ownership structure. for fully owned business structures a year earlier. they include homes, offices, and service residences. it is also boosting its fund management platform hoping to improve its return on equity. we are closely watching airlines as well as tech stocks today. japan is in focus because it will be watching a service there that will include locally available content. netflix is very popular in the -- in the united states. it will include local content fujiced by television. netflix plans more content alliances between the japan service debuts. on september 2.
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originala will produce content. that can begin in early september. finally, and story out of japan includes the airline space. skylark, the japanese bank up carrier will vote on two plans. na/comes from the other comes from skymark's largest creditor. two major airlines present a similar revival plans. it must have approval for most in majority of creditors who hold more than 50% of skymark's debt. it will be scheduled for another vote in two month. liabilities and
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taking a return to the market within the coming months and a return to profitability. it's downfall came in and over ordered airbus double-decker aircrafts. the demand to not come to fruition and led to the back of the violation -- filing in tokyo -- bankruptcy filing in tokyo. another story is the run-up to singapore's 50th anniversary. we check that out on coming up, a thirst for trading, we meet the aussie company preparing to launch in exchange. this is "trending business." ♪ yvonne: when we talk commodities
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we generally think of oil and gas and weaken soybeans. what about water? the growing number of exchanges are trading this resource like any other commodity. another one opens up today in australia, the world's driest continent. joining us is matt davis the ceo of h20x. a very big day for you guys today. this nationwide exchange system, tell us how it works. matt: absolutely. we are launching an exchange today in sydney, australia. we are heading into parliament, it will be attended by 100 people and followed by dinner this afternoon. yvonne: talk about how the implications of this, australia has been known to have one of
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the most sophisticated exchanges when it comes to trading water. don't see ourselves as a competitor to any of the existing exchanges in australia. what we're looking to do is exchanges onto a central exchange which is currently missing so that things like liquidity those issues are dealt with. yvonne: i think when people talk about trading water it is to lay for an to them. can you explain how you even put a value on water? prices, likety whether, storage levels, and locations might all dictate the price in which water is bought and sold. yvonne: sure, can you tell us a bit about, we've seen a lot of
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drought conditions in australia. it is one of the driest continent in the world, but we've also seen the same conditions in california. it does have a model transcend to the u.s. market? or even part of southeast asia, like thailand? matt: absolutely. builtatform is held -- for international opportunities. california, chill a, those are -- chile, we are investigating those at the moment. yvonne: who is buying into this market right now? matt: sorry, i missed that one. yvonne: what some of the buyers that the be trading in this exchange? that we haveel is brokers on the exchange, and their irrigators and uses of water, those people like dairy
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farmers, growing corn, cotton. how, given how volatile in australiae, using flood conditions as well as drought conditions. with that make it hard to really forecast, how do you capture that in a market? matt: look, there is some historical trading, our exchange will be capturing that data as well. the process can be quite volatile in what we call the southern connected basin. 70 years ago, anywhere from dollars to $100 per barrel. we already have $250 per barrel. that is due to influences like el niño and also storage locations in the basin. yvonne: what the thick of the outlook for a lot of these
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commodity areas like australia which alerting of drug conditions. what do you see the outlook of that as? the: look, we track forecasts on a daily basis. we use image of australian and u.s. data. the prediction is tel;ling us that the el niño will possibly looking to break sometime in the winter of next year. yvonne: matt davis, thank you for joining us. stories making headlines, beijing is being called to stop taking land in the south china sea. administers expressed concerns. china recently started substantial talks governing
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behavior. administers say there was a gap between beijing's reports and the situation on the ground. >> we believe that these imperatives and this matter is handled constructively. there could be preventive measures in place to ensure this agreement on parties does not escalate into vast disagreements by parties does not increase into a different situation. yvonne: thailand says it is cracked a human trafficking operation. the gang allegedly use social media to entice the women that had them under china, malaysia, and singapore. thai food says the industry is largely ignored by the government. announced relocation
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of a airbase. the suspension was announced ahead of a meeting on friday. about 50,000 u.s. troops are based in japan under a binational security treaty. coming up, the $43 shipped to the moon. islook at my buzz aldrin generating a buzz online. ♪
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♪ yvonne: this is "trending business." is a fully fledged industry worth billions of dollars. it is bigger than music or the movies. players can go to the universities on gaming scholarships. ♪ >> once the domain of the teenager hold up in the bedroom, gaming is a totally different beast today. the average age of the gamer is 37. facing thousands upon thousands coming together, but behind the screen is an industry that
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1.2 billione than people worldwide. the sheer numbers involved held by an aging demographic means market is expected to explore the more than $1.2 billion. one reason for growth is eastbourne forts, multiplayer videogame competitions played in front of live audiences. >> for the long shot. esports has an audience of 134 million people. -- ford, american express, and others hope to sponsor competitions. more than some goldman sachs analysts are professional golfers. the industry is changing. mobile is becoming the fastest-growing segment and can overtake console gaming by the
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end of this year. don't forget her jaw reality. -- virtual reality. let's see what is tracking on social media right juliette.eb and there is some conversations with buzz right now? tv and social of media, mr. buzz aldrin thank you for watching. we have been talking about him this morning because he is active on twitter. he just tweeted/ his expenseng about report from the trip to the moon. $33 on thatt expense report to the moon. that is pretty good price to get to the moon. juliette: i think it was to get to work, but still, he is a pretty efficient employee. he is legendary.
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i met him in 2009 and it was an honor to meet someone -- we appreciate his time. juliette: he is interacting with you on twitter this morning. zeb: we invite them to come back. juliette: i am talking about taylor swift and this #that is -- gonerobin australia viral in australia. they all learned the words to "shake it off." but then they realize they cannot use that music without permission. they got upset, so the theater director tweeted please taylor swift, help the 17-year-olds shake it off. within fivel, and
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hours, taylor swift wrote back permission granted, good luck with your opening night. an aussie actress who was friends with the theater said still grinning about this. she is in love with tennis web. zeb: great how social media can connect people you would think of is out of reach. juliette: and buzz aldrin. zeb: we thank them for watching bloomberg. thanks, guys, in other thanks to buzz altra. coming up, trade blossoms between vietnam and europe. ♪
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♪ yvonne: the stop -- top stories trending this hour. there is still significant work to do before the yen can be available for reserve currency status. off until be held september of next year. some people have embraced the yu an's attempt to join the dollar and the euro.
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expected to show a decline in stock prices. by dipping aeyed second weekly drop in inventory. this time by as much as 1.6 million barrels. last month crude fell the most sense to thousand eight. -- 2008. ,espite almost 6% jump southeast asia's developer put it higher mental evan -- revenue. n says it remains focused on singapore and china, but is exploring opportunities in southeast asia. for the data now and what is moving the markets, a lot coming in now. david: first fiscal quarter , wete and's -- earnings been following these all morning. own 2%, earnings were
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ok, but shares were under pressure. it is getting quite difficult there. down,seeing prices going we expect the symptom therefore a battle of market share. one of the biggest gainers in the first quarter net income up 73%. they are buying back some shares, stocks on the nikkei, down 1.5%. they are cut to neutral at numeral. down 10% for that stop. net income was up, forecasts unchanged. there.s some profit 30%, best dayl,
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since 1977. earnings are there as well. very good mostly. back to you. yvonne: thanks, dave, let's cross to some live pictures. using u.s. secretary of state john kerry becoming to meet with southeast asian counterpart in malaysia. there is a lot to talk about today. tensions over china's territorial aspirations does risk overshadowing a gathering to promote regional and security ties. you can see kerry shaking hands with some of the leaders. this is days after chinese accused the u.s. and militarizing the chinese see -- sea. beijing has been told to wait longer before the yuan can be
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classified as an imf reserve currency. this essentially means is what? robin: this essentially gives the yuan a more realistic chance to get to the reserves basket. that is because they love almost a year to open up their capital freely the yuan more usable. words freelyt, the usable were mentioned 100 times. yvonne: have you stopped counting? i have. that is obviously a key consideration for them. eijing has done a fair bit to over the lasts couple of months. it still is a view -- ways to go. yuanhave to keep the stable for nine months more.
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yvonne: what can china do during this time? robin: the first thing is widen's trading they can allow more money to be moved in and out. considering theher to include transactions in taiwan as international transactions. that is taken away, it could yuan as being one of the main global currencies. all of time to digest this, they could so much for that report. have agreedietnam on a trade deal draft. it will bring $30 billion of goods.
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has, finally, a deal. haslinda: the eu calls it not just a milestone, but an important milestone for potential other trade deals with emerging economies. tpp, let's give you some details. 90% of terrorists will be removed -- 99% of tarriffs will be removed. the agreement will help integrated vietnam into the global economy. fiftham is the eu's biggest trade partner in all of asia. in exports electronics, pharmaceuticals, and vietnamese
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coffee. this agreement has been reached in principle, but it's a requires more work to finalize. in late take effect 2017 or early 2018. yvonne: what about the wto than? sidestepping eu is the wto, opening trade on it's own. failedd about negotiations still deadlocked, and the transatlantic trade and investment partnership despite initial optimism it has yet to thelude, so they say national trading system is struggling. so the eu is making trade deals on it s own. you have to get cracking and be creative.
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yvonne: get cracking, indeed. thank you so much. let's check in on some of the stories, shares at mgm resorts rose the most since march. the casino operator revealed second-quarter earnings of $.19 a share. games in los vegas helped a slump. busy lands in hong kong and paris may not be the happiest places on earth after shortfalls of the themepark contributed to a miss on third quarter shares estimates. the company posted earnings of $1.49 a share. shares fell in after hours trading.
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the operator singapore's resort quyarterly fell last -- quarter. has slumpedingapore as chinese highrollers cut spending. they will release their earnings next week. shares are treating -- trading near a five-year low. to becomearted a push a global company. it will start offering services in asia for the first time next month. the first destination is japan. tokyo, grace,m is netflix offering any unique content to japan? grace: yes. with one ofresser japan's most popular tv stations announcing that it will offer
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two original drama series. it will be a first run on netflix in japan. power atalso drive attracting the japanese to come to the netflix service. they are known for their original content. we do love japanese dramas as well. what challenges does netflix face in japan? we have seen some competitors failed in the past. grace: japan is a unique market where there are a lot of video rental stores. people are still getting used to going to stores to look at the titles. not just watching it online or streaming into their
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homes. there was a lot of challenges, and one example is that hulu enter japan in 2011 and they with aboutand japan 12 u.s. dollars for a month, they then lowered it to now currently at eight dollars. they gradually sold their business to japan's a local tv stations. biggest liar in the streaming service, so people some- there is still question as to whether netflix can do well in this market. yvonne: japan first, what is next, china? grace: china is definitely on their radar.
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when they entered the presser last month, he said china is definitely something they will consider for next year. japanht coem soon after releases it. people are excited. china is totally different. we know there is ite from baidu, those are streaming services which you can watch free and they charge based on commercials. different model from japan. there are different challenges. yvonne: a lot of competition. grace, thank you so much for that. coming up next, room for
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improvement. they want india to short out its infrastructure stop. ♪
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yvonne: checking some stories making headlines around the world. they said it is time for some serious dialogue between arab states and iran. the nations of the gulf cooperation council have assessed the deal. qatar's foreign minister said regional tensions can be solved by talking. myanmar are in moving south the more populated at -- areas. the delta has been swamped this week, hit by torrential rain.
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than 130,000 people displaced living in camps. says livestock and grain could danger food supplies. the presidential -- president of the olympic committee has downplayed questions about rio de janeiro. he is no special reason full confidence in the organizers. the governing body for sending and growing city one virus testing carried out after a report comparing water quality at some olympic venues with raw sewage. plus, india must improve its infrastructure at the country wants to attract investment. he is ready to put his money where his mouth is. tim, good morning to you. what is their message?
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key thing look, the is he is very interested in india. the primetelling minister that unit infrastructure. you need to start looking into that. he is willing to infest 2 billiondot -- invest $2 over the next 10 years. they only spend about manager --lion dollars last year about $900 million last year. the ball si in their court now. benne: why would they interested in india? they have a large stake in china? is that simplest answer
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the free market economists would be shuddering, but what modi has down is double the import tariff. now makes economic sense to manufacture in india. with smartphones being so cheap, worthwhile makes it to make it locally. that is the first thing, that is foxcmpotent --reason for onn to get involved. economy, also a giant more than a billion people. india is stil growing and it is a large company. on the flip side is labor itself. cheap labor, not so much as a
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very large pool of labor. those are the two major reasons. it is untapped for my market side and a labor side. yvonne: will we see iphones made in india? will happent eventually. i think they are holding their , they will not have a good pair of long does it will not happen soon. yvonne: thanks so much. we have more from india coming up next. the company'ss largest phone carrier. we're live in mumbai after the short break.
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♪ you are watching "trending business," welcome back. again, adding to the billion dollars of deals they have already done. they bought space and operations in papua new guinea. china's lack of large individual mines means they must look abroad. china is already the world's biggest gold consumer. summer bonus payments and japan has resulted in workers seeing the biggest drop in monthly workings since june -- monthly earnings since june 2009. forthr wages rose for a
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straight month. earnings toher support falling consumption. ght by aarcus was bou pan investment board only two years ago for about $6 billion. the openingg down of the mumbai session, let's see how things look there. retreat,cks possibly lifting interest rates. we did see the dollar move it a bit. mobiles largest phone carrier has beaten estimates. let's cross over for the details.
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good morning. i can but the figures. -- talk about the figures. were expecting to be different. let me break down the numbers. yesterday beat expectations. was helped largely by a .ale in africa company offered $1.3 is talking about africa. all the consumer base has grown, and the changes in interconnected range indicate nigerian markets. pressure,l competition is taken a toll, that fell a percent from last
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year. it has dropped 11%. did he use will rise, but data --enues also the base hit took a hit. own 4g operations will be key going forward. yvonne: thanks so much without that. let's talk about back to the future. fans are in for a treat with lexus showing up its first fully functional hover board. if you want to buy one you're in for a long wait. ♪ thisve over marty mcfly, is a demonstration of a real-life working hover board developed by lexus. board features similar
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technology to magnet trains. we look at it. >> when using the board just been in there, you feel like you're looking at a magic act. how much will it cost? >> this is the culmination of 18 months of work, but don't expect to see it in a store near you anytime soon. it has no plans for a commercial development. >> hope that when they see it, they think it is so cool and want to ride one. understand that we really do like design and innovation. >> in an age when tech companies are getting close to car companies, it is interesting to see the opposite even if it is just a one off.
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they are teasing us. that is it for "trending business." this is bloomberg television. ♪
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john: with all due respect to chris christie, tmi, dude. chris christie: i am a catholic and i have used birth control. not just the rhythm method, ok? john: in our lineup tonight, donald trump, the event without donald trump, and then donald trump again in an interview later on in the show. the big event with donald trump front and center, fox news's


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