You more on that in just a bit. Out of recession. We have a revision and the shanghai deposit. It is up for a Third Straight day for the overall benchmark. The numbers are better asked better than expected. That is what we have across the region. We leave it there. Act to you. Greece and creditors have been holding phone calls and the time it takes down to a crucial gathering of finance ministers. The creditors are following a drama and we have some signs of these solidification. But the clock is ticking and there are 12 days. That is the background. We have the friday meeting and the official finance minister meeting. That is important. They will come to an agreement. Greece ties them over until september and they come with a reform package. They are saying, i am running out of patience and you cannot borrow for nothing. 12 had the Prime Minister asking juncker to make a deal before the meeting that is hours away. The talks are between the finance and reform ministries. That is of course after they left the troika. That is the disagreements and at the same time, you have greeks. They are protesting support of the government and protests run across greece. Now, the finance minister this is the last eight hours. You are seeing greece at 1 00 in the morning late on sunday evening and you can see people saying, no more austerity. Realistically, the biggest creditor is sick of paying money to greece. It works both ways. The minister said they are talking about a right off of debt. There is no way to handle the bonds. A right off will never happen. There is an investor comment. Economist talks about how concerning this is. It is worrying. It seems that positions have hardened and you have islands saying that it could be damaging to give greece a deal with so much austerity having been inflicted on the public. That is important and the meeting is very important. All right. The European Union is becoming presented by many constituent countries. We had the election in hamburg and merkel plus party merkels party did not put forward the strongest candidate. The central democrats won by 47 . The antibailout antieuro party picked up their first seat. They have seats. Not even not an enormous emergence. It is any emergence. The broadest measure of new credit in china shows a rise with the stimulus cushioning the slow down. The loans has thanked lending double. An Investment Fund is looking to london. They will team up to build a business report. It will generate around 10 billion for the economy. The global wave of car recall has spread to korea. Hyundai and tia are checking cars for a variety of potential problems. They include hybrids produced at the end of last year that may have a faulty warning. It may be less when the driver stack the driver steps on the brakes. It is healthier. Not ready to come off the medicine yet. The growth of 2. 2 out of recession. Still below estimates. Exports jumped. Japan is struggling to boost production. It is a major subject on bloomberg and it remains weak. Wages are key to the recovery. Exports are looking quite strong and it is about personal consumption and spending under pressure from weak wage growth. That will be the case unless there is a round of wave wage increases. Do not sit there and whine about the numbers. The numbers show the wages are going up. Do not sit there and whine about the wages. You should be concerned the wages will move so fast that businesses will not be able to cope and will have wage increases that squeeze profits and will have to close down parts of the business for lack of people. The Wealth Management says the minister must do more to lift the economy. The Domestic Companies are suffering. It was down in december. They were expecting an increase of 0. 3 . You need to do something that helps Domestic Companies because they are employing people. The wealth is not encouraging people to push spending because they are not spenders like the americans are. The japanese can be encouraged to spend. That is the word on japan. A Software Maker calls it unprecedented cyber robbery. The have taken bank theft to another level. Looking to steal 1 billion. I havent checking my account. Is that a danger . Are they targeting individual accounts. They are targeting banks and banks have individual accounts. I wonder if people are seeing accounts dwindle or if it is on a level above. Potentially on a different level. It has been working with the crime investigative units and other administrations around the world to try to crash this and they are still out there and working. These thieves have their fingerprints all over this network and in 30 nations around the world. They put in malware and it takes control of employees and transferring funds. They mimic the actions and it is upwards of 10 million a raid. They are able to control atms and distribute money to a thief standing there at a particular time of the day. This is sophisticated. Incredible. Lets get back to the markets. David is here. I am watching the composite. There is little to trade on with the exception of the data. That is what you have. It has been around here and there. I think this quote sums it up well. He says there is relatively little activity in the market and the market is less efficient and unpredictable as we move towards the holiday. That is what we have. The volume is quite light. Lets show you what is moving things. Oil and gas turned upside down. The prices are lower in financials and limit the game. I will leave it there. Is apple about to transform itself into an automaker . They may have tesla in their sites. Profits are surging over 180 . Asia edge returns. The minister starts his day on the job after being sworn in before tens of thousands of supporters. Leading a party to a sweeping victory and when they need 67 seats. The second time in charge of the capital. He resigned seven weeks in the job. He wants to serve the full term this time. North korea celebrates the anniversary of kim jongil. He route that she ruled the country 17 years and a time that included a devastating famine that killed hundreds of thousands. He presided over the drive to build nuclear weapons. He was succeeded by his son. The Obama Administration has released new regulations on trial ands that open the sky to civilian flight with privacy rules on government agencies. For safety reasons, the drones must be flown away from crowds and it could produce 100 million in the u. S. Australia reporting earnings today and the profit surged. The chief executive is lance. They do for joining us. What do we know is the key driver here . You have a dividend you increase. How do you maintain all that . The results reflects write offs that we took. We are up and, if you think about the time since privatization, the margin has improved and it has doubled the return and the business in the latest. We have announced a 26 uplift in the payout of the business. The story is about transformation and continuing to press push a productivity agenda. You mentioned transformation. In what way . Is the transformation with making things more efficient or a changing australian economy . You think about the change in commodity price and the change in the fortunes of the resource sector, it is resource related and we are focused on the transformation and the cost efficiency and the growth with revenue in the business. It is subdued and we are operating against considerable headwind. Everything we do is focused on the efficiency equation. We saw prices plummet and how much are you seeing any recovery in that . You look at the demand. What is the picture he painted for the resource industry in australia . Taking the second, we are seeing Strong Demand and part of it just reported the fact that the demand remains buoyant and is the function of the ability to compete in the market. To go to your question, we have seen significant reductions. On the other hand, the Exchange Rate has gone the other way. Not surprising. It is a complex picture that sees blanche demand and a need for high levels of efficiency to compete in the market and meet the demand. We have seen the price of oil in the last few months. That has to be doing favors. That is a cost you have to incur. Certainly it is a week benefit for our customers. It is a passthrough and the benefit is directly to the customers and a lot of our network is electrified with how the oil price reflects our customers. Undoubtedly, this is part of the benefit at the end of the day. Great talking to you. Good to see you on asia edge today. Take a look at what we have coming up on the way. The good with the bad. The Property Market has stories to tell. Details are coming up. The singapore park it does Property Market is seeing office rent jumping. How is this playing out . What about the great rivalry in hong kong. Prime office rent is going to drop. This makes it more expensive to run a business in singapore. It may make it more appealing. These are broad trends. Have you seen individual companies . Youd didnt you did not have this happening this year. The space is leased out by the end of the year. Property tends to be a domestic story. In most places like singapore and hong kong, it is like a affected by bias and a can have an impact. Investors crucially make up if third of luxury home investment and the additional tax adds 18 to the cost and it will be difficult, even with prices falling. Thank you. We are looking ahead to the afternoon business in tokyo with weaker than expected fourthquarter gdp. Still, it hobbles out of recession. We have seen this ride along with record highs. You are watching asia edge. A move for it ins to asia stocks asian stocks. Even more mobile. Rumors that apple is protesting a new road testing a new product. Gross below estimates, james baker joining us from japan. Still a long way to go. That is right, the economy return to growth last year annualized growth was 2. 2 . What that meant is the economy did not grow in 2014, growth was. Zero. The recession is over but it is looking weak. Business Investment Data is nonexistent, no investment in japan for six months according to gdp data. Overall it is good that the economy is back on growth but not a great set of numbers, and definitely lower than most economists were forecasting. I guess we are going to try to get to why we saw this fall not this fall but Slower Growth this year. Partly it is the story that has been the story of april, consumption time increase tax increase. Consumption has been slow, real wages are falling. Inflation is coming into purchasing power meaning they are spending less and not making big juices, car purchases big purchases, car purchases were down substantially after the tax increase. That is cutting back on production and companies are suffering because of that. Because companies are suffering the arnott investing. Very arnott investing they are not investing. That is why the recovery was weak in the day we saw today. James, what are people saying to you for what happens for the rest of this year, 2015 . I mean, they said to the that for the boj. Today that for the boj to hit the forecasted growth we will have to see 9 growth in this order which will not happen so it looks like the boj First Quarter which will not happen so what looks like the boj slowing growth and the growth through slowing inflation and combined with what is happening with inflation due to prices, that is not looking good for the claim that it will achieve the 2 inflation target. This year we are looking at growing but it is weak and we are not expecting anything surprising in 2015. James, thank you for that, james baker joining us from tokyo. The latest from the markets, david is youre watching japan and oil. As james pointed out, several reasons that the economy is not doing quite as well. Obviously the consumer is really from the sales tax reeling from the sales tax increase. Is the boj supposed to come in will we get the effectiveness if they announced something new . We surveyed economists and the majority say that we will see the boj act further and most of them say act before october. You look to gdp read, this is a 10 year. Yields are across the board, 10 years. Fiveyear, also up were we . Where are we . 15 basis points. Nothing, almost. The market is perhaps looking and maybe pricing in more action from the boj, dollar yen immediately spiking out. That up up,. You get a move up forr equity markets, nikkei. We are down for today but we are still out. 9 up. 9 . Were still 16. A big drop your but we are all here but we are up. Back to you. Seeing sorry c sorry, ceo Stuart Gulliver describing revelations as painful. Yvonne, fullpage ads in several british newspapers. It was mostly damage control from ceo Stuart Gulliver. They say they have made fundamental changes in terms of how they do business became in defensive about Media Coverage but they came in defensive about Media Coverage saying that it is data stolen eight years ago by a former employee and the names that were high profile the secondmost are no longer very say that most are no longer client. Very say that most are no longer clients. Theyve talked about having accounts by 70 in the Private Banking unit cutting accounts by 70 of the Private Banking unit. They have added that they have no appetite to do business with clients evading taxes. It has been weeks since each be hsbc has come under fire with how they handle accounts for tax evaders. What kind of political fighter . Fire . Several executives were asked to testify for the treasurer. David cameron under fire as well over why he appointed the extra exchairman as trade minister. Some are accusing that the government turned blind eye is is was months after the treasury was have the document about the businessmen and individuals was handed documents about the businessmen and individuals. The treasury new about it and we still have the appointment. That is the allegation. More allegations are coming forward including hsbcs india arm. Officials are saying potentially thousands of american citizens with indian origins evading taxes according to several reports. They have promoted services to these clients, saying they will keep this information away from tax authorities overall. The u. S. Department of justice did issue a summons against the back in april of 2011. Thank you for that. Time for a look at the corporate stories making headlines today. John dawson. Stocks taking a tumble in tokyo after honda refused a bailout. They are taktatas takatas biggest customers. A longrunning labor dispute may force on the 2 honda to change production. They have scrapped their sales target. Honda says that pressure led to a lapse in quality and the record recalls. Two companies bought by alibaba are joining forces to take on uber. They have confirmed a merger after an intensifying rivalry and regulatory hurdles. It could be valued at 6 billion and may list soon. Expect details after the new year. Those are the top corporate life this monday morning, i am john dawson. Rumors around that apple is planning on entering. Steve, we have been discussing this all morning. What is the logic year, apple becoming more mobile . It is pretty exciting. Apple is probably about building electric vehicles because apple has been around for a long time probably not building electric vehicles because apple has been around for a long time, building futuristic looking devices. We think what they are building is a smart device for the automobile because the next frontier of automobile design is to have a connected car, a self driving car. The whole environment is changing, the ecosystem of how you deal with it. Motor vehicles will become a part of that. There is so much interaction between the human and the car and the car and the surroundings so it is very possible. That is a reason apple would do this. That is why they are hiring automotive experts, so they will understand how a basic automobile works. The human interacts with it how the human interacts with it and how it should we collecting data, other data and graphic data wetaather data and graphic data. Car companies be worried . In terms of apple building electric vehicle, the barrier to entry is i. High. Tesla found a way. It will take a lot of capital and a longtime. What automakers should be worried about is what apple is doing is developing an ecosystem around the car, the same thing they did with itunes with using or even apple pay. Steve, thank you very much indeed. Right, up next, will greece be willing to compromise on that talks in brussels. All that and more when asia edge returns. Lets check on the stories making headlines, denmark is in shock after a gunman killed two people in copenhagen. He was shot dead by the police after he fired on them. He was born in denmark and had a criminal record. Victims were one person in a cafe holding a freespeech debate and a matter of a synagogue. Men at a synagogue. The ceasefire in the ukraine is running to unravel after one day. Both sides accuse each other of violating the truce on the roads. Fighting has subsided in most areas after a deal brokered with the help of france and germany. More than 5000 people have died in almost a year of violence. Greece is preparing for what some observers call a day of reckoning over debt. They applied for talks with creditors and hope to win an 11 billion lonaan. There are hints that both sides are prepared to compromise. Joining us now are drawn and andrew. 5050 chance that greece gets a deal . At the end of the day, the problem is if they get a deal the other nations like spain and italy and ireland are going to want a revised deal. But equally if they go the train from the ongoing now because it has been long in the wings, less dramatic. At the end of the day you have to see a reshaping of europe. Germany is sticking to a balanced budget but is not really investing in the longterm. You get ita tick this year but it could be disastrous next year. It is the same with the u. S. Dollar, we have cheap money but we are not seeing real reformation. Andrew, john has been calling it all morning. We are seeing these indoeuropean parties getting a foothold antieuropean parties getting a foothold. The Angela Merkel party. The interesting result was the antibailout antihero antieurope party, the alternative germany party. They get seats in the hamburg regional assembly. The emergence, is interesting. People are getting frustrated simple as that. Lets face it, when we have sheet money, people cannot reform economies. We have had sheet money money in the u. S. Cheap money in the u. S. For years now. There are companies that should have been changed and as long as we have cheap money it keeps going. Shipping industries have been having is struggling time, rates are down and oil prices are. When high. When prices come down they get a breath but it does not help mainstream operators because they have the competition. The continues to work. We talked about japan not reforming but actually very few countries are keen on reformation. They were saying that they need time and not money to put into a factory formation plans give us six months and you will see a different country out of greece. Do you see that . You cant believe a politician. Right . The fact that he asked for money first and then time. We got used to the idea they will have a change and they were going to sell some of the businesses to third parties that they were going to raise and change some of that but now they have stopped that. They have stopped all the thirdparty sales going ahead so you kind of think they do not want to change it so much as reoriented that reorient it a bit. We hope the economy picks up quicker. We are seeing the behavioral shift in the equity markets. We had a bit of a selloff volatility was crazy, then things calm down when people realized there is all this money going from boj in europe. At what point does this become a big liquidity bubble that bursts . At the point where they stop printing it. The reality is that was a good article on the weekend about investing at the moment about secondguessing the fed and that Central Banks should not be the cheerleaders. The reality is that people are not changing the structure poor results out of america in that we are not seeing revenue growth, they are cutting costs and benefiting from lower oil costs. We are not producing anything more. And gdp is at a record high. They are buying their own shares back because they can do that was cheap money. With cheap money. We have seen that taking place with the drug market. Junk market. American debt is going down and people are feeling prosperous so that could help but the reality is there is a turnaround from what happens to all the free money people will feel very poor again. It is going to disappear but somebody is holding the money. It is going to go somewhere. Where does it go . The reality is if the government stops printing the money, it becomes scarcer and scarce or. Been receiving reality and scarcer. Then we see the reality. Wipe of money in germany when it costs money . Why put money in germany when it costs money . It is protecting as much as possible rather than believing there is real growth. It is the same for china. Interesting with the numbers. Try to always frontload lending china always frontload lending. One thing they are trying to address his giving money is giving money to soes is not going to make china great again. But shadow banking is not the answer. They have to work their way through it the same as they are trying to make a domestic consumption market. But it all takes time. More money. [laughter] what would it be . Enormous force of cash hordes of cash, shortterm was. They are investing on momentum. It is too difficult to pick a particular stock or sector. The reality is that the true investors are saying shr eder investors are saying shr ewder investors are looking at the Property Market. The bad ones will get squeezed out. The Power Companies and Energy Companies are facing headwinds. Thank you. Every year of the goat, ram sheep. We will be talking about the new lunar here. Meet the man who has been dazzling hong kong for the past four decades. Chinese culture adores light. For christmas and the muni year, thousands flock to see the festive Lunar New Year thousands flock to see the festive lights. Known as the father of festive lights after decades of the business. In the business. I love the job, i enjoy everything about it and i never want to stop. 30 years ago there were not any Pretty Lights at festival time. It was like a wasteland. People decided to put up Christmas Lights to attract visitors. Initially the idea was greeted with skepticism. Nowhere else has such displays brightening the streets. My first job involves suspending stars from the top of buildings, it was quite dangerous. Going up on the gondola is not for the fainthearted, it can be wendy. Cold and windy. Several years ago, i almost burned down a building. The fire was coming my way but the colleagues cut the power in time. I used to be on call in case there was an emergency. But we do not have that problem anymore because led bulbs are wind and rain proof. In the old days there were five colors to choose from but now we have many more so the effect is dramatic. The cheapest display cost about 13,000, it depends on the size of the building. It could be jordan 50,000 250,000 for the big ones. We do two dozen buildings every year. The number one rule was we do not use the same image twice, which i have never done, and i have been in the business for 39 years. Decorations last for three months. Illuminations go out in november. Then the displays change in january or february. By the time we take them down, i am already thinking about next year, so it feels like it is always the festive. For me festive three bank for me period for me. It is incredible to me the man who is right and the hong kong skyline written to the hong kong skyline. One of the best. Every evening there is a laser light show. I still have mine. It has been years. That is it from us right here in asia. We will the following is a paid presentation for body beast, the fast proven way to build muscle and build your best body brought to you by beach body. This is as real as real gets. We will learn and we will sweat and we will have fun and we will see results. Before body beast, i was soft him and and chunky and this is a after resu
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