Iphone, saying they may have found a backdoor to hacking it, and beijing, a coast guard ship trying to stop an Illegal Fishing boat. They are taking a hard line by blowing up and seizing vessels. Follow me on twitter. That is my handle. rishaadtv, include trendingbusiness. And a look at what has happened overnight and so far this morning. Vid i looked overnight, it was not unbridled optimism, but there were danes gains. The Chinese Companies listed in the u. S. , and i guess this will give you a sense of how things may trade when things open up in hong kong. Lets look at what is happening in asia right now. Markets opening up, taiwan, singapore, and malaysia, but it is really japan driving gains today. Asia on its shoulders at the moment. We are looking at gains in the regional benchmark, because what we are seeing on the nikkei 225, a little bit off the high, two and a fraction. That is really enough to take the regional benchmark to the highest level in years. Four the about 2930 msciasia index for the asia index. 9539. , mid last week, we are up about 1 on the dollar index. The news flow overnight, very much dollar positive. We had to w fed president s coming out saying april is fine president swo fed coming out and saying april is fine. And oil prices. Again, it is one of those incidents where west texas is trading at just about the same price as brent. 41. 59, look at brent, so a little bit of a premium for u. S. Crude. Rish . Rishaad three minutes past 6 00 in the evening in los angeles, and the apple showdown we have a correspondent in the city of angels. It has been changed now. It is all changed. What is the latest . Yes, it is all changed. I was supposed to be in a car for a couple of hours for tomorrow, but as you said, it is all different now, and this has happened after the government filed what is in my hand, three pages, just three pages, requesting a postponement, and the whole reason for this is because the government now thinks that it has a way, a possible way, to unlock the iphone of that terrorist, syed getok, in 2015, in order to for that information case. I do want to highlight that on sunday, march 20, 2016, an outside party demonstrated a possible method for unlocking fa iphone. The terrorists, if theyre able to do that, it should eliminate the need for apple to do that. We have got a couple of weeks there. If theat said, government can unlock that one,ne, that terrorists iph then everything leading up to tomorrow could be moot. Atmay not have a court date all, but if the government cannot unlock that iphone, then we might be back to square one, where the government says, ok, this. We have to force this case going for a very, very long legal battle for a few years if not longer. After the District Court judge, it could go to the San Francisco court of appeals, and some say it could even go all of the way to the supreme court. Ramy, and some, are saying this move is an interesting twist. That is the way they are putting it. Comments being made on a Conference Call, saying the company is no longer applied to comply with anything, and that is what we have coming from the. Pple lawyer we will have more right through the course of the show. rishaadtv, us include trendingbusiness. And a gain in tokyo, more than a month since they voted for a a lot. Foxconn. Over there. There is a real danger this could fall apart here. Reporter good morning. In fact, there are a whole bunch of things that have helped this up, contingent liabilities. Foxconn was unhappy with the state of their finances, wanting to see more, and we see they are not happy with the amount they are going to see, and what is at stake is about 500 billion yen in new sharp shares, and foxconn may want 20 . Foxconn was supposed to pay 100 shares,yen in preferred and that is in negotiation. Taking all of these stumbling blocks together, a deal is not likely to be concluded this month, which raises a concern that we may hit a repeat of 2012, when foxconn walked away from the deal when they had much less at stake. El, thank you. All right, a look at some other stories we are keeping tabs on for you today. We are looking at the hospitality industry, wynn resorts, and a takeover offer 6 billion, and that anda value of about under this two, the starwood shareholders will receive 21 in cash and a share of the common each starwoodr share. Last year, it was just two dollars in cash and the rest in the marriott deal does go forward, it would create the Largest Hotel operator, and they would have more hotel rooms in one area than anyone else. Opening up more rooms, almost three times their current total. Hilton is planning to open more in the coming years, and other areas include india, thailand, and the philippines. And the Federal Reserve last july, the chinese stock markets plunged, and the tb oc wanted to know more about how the fed handled the 1987 and the pboc wanted to know more about how the fed handled the 1987 issue. There were seven quickly available documents, including meeting records and briefing documents, including things from alan greenspan. And moodys may cut deutsche rating. Redit germanys largest bank plans to cut jobs and get rid of assets, but ceo says he does not expect a profit this year. Movies says the bank will face a odys says theov bank will face a challenge. And helping you live longer. There is a new study. You can go to bloomberg. Com asia , and indonesia accusing china of trying to help and Illegal Fishing boat leave its waters. When trending business returns. In the pacific rim, gaining after markets essentially have abated. A chief economist joins us now from sydney. So we are over the worst. Is that what you are reckoning, shane . Yes, that is my reckoning. We will still see bounce of volatility this year, and a trigger for that might be the we will see some volatility this year, and a trigger for that might be the fed. Ok, where does that leave currencies, as well . Been talkingave about the aussie dollar, and that it could be quite damaging for things there. Shane when the u. S. Dollar was they did not mind it to the extent that the aussie dollar was falling, and that was helping with our export and it increases the risk of some sort of funding for those of us who have u. S. Dollar denominated debt, and the chinese have started to get concerned about it, as well. My feeling is the u. S. Dollar has probably seen a high, and we are now in an extended period, and it might drop a little bit euro,t the yen and the and we are no longer seeing upwards pressure on the u. S. Dollar, which, in turn, probably means a bit of risk for the aussie dollar as long as in the u. S. There is rising Interest Rates. I think at the end of the day, that will settle down to the extent that the fed does come back and raised Interest Rates, maybe by june, and raise Interest Rates, maybe by june. Obviously, there is a bit of a concern, given the extent it has come up in such a short period of time. A cut by glenn stevens, what sort of a difference does it make at the end of the day . The market in australia is praising pricing in one more rate cut. If these come to pass, it would mean a further narrowing, and at the short and, it is 2 , and 2 ,at the short end, it is and this would knock the differential down, which would substantially lessen the attractiveness of keeping money in australia, which i think therefore would help maintain downward pressure on the value of the Australian Dollar over time. Rishaad we have seen the yen over the past weeks after that surprise move by the boj, and this was kind of like the opposite of what it should have been doing, but it sent equities there into a more volatile spree, and numbers out this week, inflation, in particular, affecting shinzo abe. Is a veryhink it difficult situation for the bank of japan. They have given their best for qualitative easing, or what they call qualitative easing, for their economy, and yet, the Inflation Numbers are still off targets. Excluding energy and food, sort or so,ing around 7 which i think is well below target, so there is a risk. My feeling is that the bank of japan will have to do more, and they may be feeling a bit unsure as to what to do given the negative response to negative Interest Rates back in january, but i think they will probably have to do more or risk a more substantial failure in terms of hitting their inflation target. Rishaad shame, what is going on with the emergency emerging markets and the dollar and the weakness, how does that play out . Lets look further afield and look at brazil, too. Well, brazil is interesting. Its share market has gone well since january. Around the second or third or fourth week in january, they turned around and rallied quite substantially, i think up Something Like 20 , so you had substantial gains there, and in terms of brazil, i think that is somewhat overdone. There seems to be some expectation that the president is removed from office or resigns or whatever it is, then that will solve all of brazils problems, but i do not think that is the case. The Vice President will take over in the event of an impeachment, and it will just be a continuation as normal. An election, there will be a lot of water under the bridge before we get to that point where they have an election, and there is a new reformist government, like what we are seeing in argentina right now, but they will get to a point where they have to address their internal problems and their economy, but i think we still have a long way to go, and the markets, the big rally we are seeing in brazilian shares i think has probably gotten ahead of itself, and my inclination would be to brazil, tending to favor markets in asia, which is still cheap, which do not have that over them. Hane, great talking to you. Reporter now to stories making headlines around the world. The north fired five more projectiles in north korea into the sea on monday. They were watching military have launched a series of missiles in recent weeks, following new sanctions over its rocket launch and Nuclear Tests earlier this year. We hope that north korea stops taking actions that filing the resolutions imposed by the un security council, and we also hope that each side can remain calm. Reporter the international aiminal court has condemned former official of war crimes. He was accused of failing to stop his rebels from committing and killings in 2002 and 2003. It is the first time they have in a ruling. And 1960s startup to the Worlds Largest semiconductor maker, also breaking new ground by making intel a household name. There was the soviet occupation in hungary that he went through before immigrating to the u. S. In the 1950s. News. Is is bloomberg juliette saly. Investors may not have to worry about a new crash why investors may not have to worry about a new crash. Rishaad right. You are back with trending business. Stocks, a crash may not happen. Lets bring in haidi. Feeling a little bit nervous. Extremee have had volatility. Bust cycle is very fresh, and we are seeing prices sliding from these record highs, and there is one good reason, which we are seeing, this temporary correction. A correlation historically between Hong Kong Properties stocks with the Hang Seng Properties index listed in hong kong and what happens to actual physical home prices. In january, that is where we saw where they fell 34 , and we had the highs of that china stock market boom, and since then, we have rallied about 20 , and the last time Something Like this happened was way back in 2011. Prices recovered three months from that. Also, a bit of a recovery when it comes to volumes, as well. We have seen this in the secondary market area secondary market. It was at least a 14year low. 13, if you look at this base, if you look at the correlation, it is actually not a bad leading indicator in the longer term. In a period dating back, the 70 we collected shows that of the time the correlation between the hang seng Property Index and property prices in hong kong have been pretty accurate. Lets have a look. China is the real uncertain factor in all of this, isnt it . The trend is your friend until it ends effectively. I guess you could say a lot of these sectors have not changed. Retail sales. The political upset. As well as the china slowdown. That could really drive down demand for hong kong real estate. On the other hand, most of those have started to be alleviated. There is some sense that there is a bit of stability. Other thing we should always talk about with hong kong is a 40 bailey to. In this study we had and affordability. Unaffordability. Affordability and accessibility remains an issue. Rishaad lets check on some headlines. Chinese policymakers may firm up toe details with an exchange they boosted Hong Kong Exchanges and clearings, shares up on monday, the biggest gain in eight months. And there was this weeks forum which is taking place. Edit increasing presence around some and in particular, are buying up Korean Counterparts at a record pace. Is holding 15 billion of korean bonds, and shares in valued pharmaceuticals val eant pharmaceuticals. Problemsesponsible for in a filing that will require them to refile . One head has denied responsibility. Customersg over new in china and india. We will look at all of that when returns. Business hey hows it going, hotcakes . Hotcakes. This place has hotcakes. So why arent they selling like hotcakes . With comcast Business Internet and wifi pro, they could be. Just add a customized message to your wifi pro splash page and youll reach your customers where their eyes are already on their devices. Order up. Its more than just wifi, it can help grow your business. You dont see that every day. Introducing wifi pro, wifi that helps grow your business. Comcast business. Built for business. When it comes to the fithings you love,. You want more. Love romance . Get lost in every embrace. Into sports . Follow every pitch, every play and every win. Change the way you experience tv with x1 from xfinity. Rishaad looking at our top stories, the u. S. Government says they may not need the help of apple to access a terrorists cell phone after all. There was to be a case tomorrow. There may be a way to wilsons interesting twist apple says its an interesting twist. Deal still not finalized almost a month after they agreed terms. Arriving fashionably late, getting the Party Started for asia markets looking for their longest streak in weekly games since 2014. The driving gains in this part of the world, looking at exports with a prospect of a u. S. Interest rate hike as soon as april, pushing the dollar up. David we might as well be looking at lost profit region right now. That is doing the heavy lifting at the moment. Some markets opening up. , shanghai is going for eight days of gains right now. Right now, seeing some weakness. Win streak right before the house of cards came crashing down. Goes. See how that is also said you want the reference rate weaker. Theres also some local news out today. China may be looking to bring down the ratio across seven major banks. See how that plays out and that essentially would allow thanks perhaps to lend more. About. 6 . The other big story we are following, we have the new iphone of course, this court case. On the new focus in iphone. Unknown to many, this Company Listed here is the worlds most appledependent company. It operates a bunch of reduction production companies. It makes things like cameras. Servicingf its sales apple and the other servicing lg electronics. Look at what is going on in the u. S. Where xp ive may the fbiits way may be getting its way in its fight with apple. Juliet has the latest what they department of justice walking away from the showdown. Very big developments this morning. The department of justice saying its cautiously optimistic they can unlock this phone without using apples help. Interestingly in the last hour, the apple lawyer has been having a Conference Call with journalist, calling this an interesting twist and saying they dont know what the solution the government has found. People photographers, security experts, Edward Snowden said this was possible without going through apple. Apple said they would have to develop a new software they had aggressively called department of. Of it, if an outside party has demonstrated over the past week a possible method for unlocking the phone, it goes on to say they must first test this method. Remaining cautiously optimistic. This is going to really upset apple ceo tim cook. Hes been adamant there was no way they would assist the fbi in unlocking the phone and had something to say at apples event in california yesterday. We did not expect to be in this position, at odds with our own government. But we believe strongly that we have a responsibility to help you protect your data and protect your privacy. We over late to our customers and we go it to our country owe it to our country. This is an issue that impacts all of us and we will not shrink from this responsibility. Thist we were expecting case to be held in california tomorrow morning. The doj saying they will get back to the court after april 5. I think they have a new ipad and a new smart phone. Juliet another event for apple. They seem to have one every six months. Fourinchone has a screen. A special edition. Unlike the other cheaper models, this one has the a nine chip processor so it will be fast as well. Not only cheaper but smarter. The same chip as in iphone 6. Juliet indeed. It will be on sale next week for 399. Price of dropped the their watch and are introducing a smaller ipad pro, which will also go on sale next week. Really trying to break into these markets with cheaper products. Rishaad thank you. Well have a look at some other stories that are making headlines. Apple is making another headline here. Its a fiveyear fight between samsung. It is heading to the u. S. Supreme court. Justices will consider whether apple was overcompensated when they were award 390 9 million after it jury found simpson copied some of its design. Opec is expecting what its calling a moderate rebound in oil prices with regards to whether or not it enjoys a production all. Hall. Doesnt know if around iran will be among them. Oil prices rising since the initial agreement last month. Out with a 10. 2 billion loss due to the slump in oil prices. They are expecting a profit of around 960 million. The brazilian giant has cut its reserves by 20 last year. Lets have a look at indonesia. A detained chinese fisherman expected of fishing illegally in the south china sea. What has been happening here . What has transpired . Drama in the high seas. Adonesia was trying to detain chinese vessel for fishing illegally in the south tennessee but a chinese coast guard vessel intervened by colliding into it. That helped to free the chinese vessel in the whole episode has caught an uproar. Indonesia said it china has failed to observe International Law and its always had sovereignty over the islands where it happened. China said its vessel was harassed by an armed indonesian ship. Until now, indonesia largely avoided getting caught in tension with the chinese in the south china sea. Its not involved in territorial disputes. A standoff that is bound to raise tensions. Rishaad is it fair to say indonesia is a bit more assertive in terms of its Foreign Policy . You can say that. Theou notice, since president stepped up control of the borders, he deployed warships in response to chinas growing military presence. Is also blown up vessels found fishing illegally in the waters in the south china sea. Its no secret. Claims 80 of the waters, one of the busiest waterways in the world. It reclaimed land in the area and built other infrastructure much to the annoyance of other claimants. That continues. Rishaad thank you for that. Lets have a look at the smartphone maker xiaomi. At one point, it was challenging apple and samsung for supremacy in its own market but missed its sales target by 10 last year. President says xiaomi is profitable and doesnt need to raise more cash. We are not raising at this point. Our last raise was in december of 2014. We raised over 1 billion. That gave us a huge amount of investment firepower. We have been making some investments as part of our smart home business. The business itself is operationally selfsufficient. Well need to raise any more money beyond the round we did, which was focus on investments. How long do you think this can last . We are operationally selfsufficient. Im saying we are a Profitable Company. As of when have you become a Profitable Company . For a long time. We should look at how much money weve raised considering how heavy from Capital Expenditures is a smartphone business. You know right away weve been a Profitable Company for a long time. Last year, you sold within 70 million handsets. The little below expectation and some say the 45 billion valuation is not sustainable. What would you say to them . They were number one in china in 2015. Number one or the second year in a row. Atn on the market in china 430 million a year isnt growing fast anymore, we are maintaining our position. Its a competitive market so we are doing very well. Chinae today in mainland or their more than 50 apps. More. Continuing to build the engagement is going up so theyre generating more and more revenue and pockets overtime. The growth of the Internet Service is quite sufficient. This is the most important sign of a successful business model. You mention about Global Expansion and value are interested in entering the u. S. Market. Take us through the steps you are doing on that front. Our International Expansion over the last couple years have been focused on the two markets. This year, we are refocusing a ton of our work on india. India is a fastgrowing market. Course are thinking about the u. S. As well. On our radar but its a bit. Oo far for us up next, death to paper checks . The hong kong stocks offering an alternative name and method. Right after this. These are the stories making headlines around the world. And cubanbarack obama president raul castro have shaken hands and have been a. Havana, cuba. Both men highlighted deep differences over human rights and governance. Obama the relationship between our government will not be transformed overnight. Continue to have some very serious differences. Including on democracy and human rights. A chinese journalist who went missing last week has been detained by beijing police. His lawyer has confirmed. His lawyer said hes been implicated in a case. He is said to be linked to a lesser calling for the resignation of the chinese president. Two ships have arrived in japan to carry plutonium to the u. S. It is enough to make dozens of nuclear bombs. Than has stockpiled more 40 five tons of plutonium for reprocessing and energy generation. This is a bloomberg news. A hong kong startup looking to eliminate the need for paper checks. Its a Money Transfer network that allows a user to conduct many transfers for free online. A man who conceived the idea. How does it work . Kongts say i ou 800 hong dollars today. And you say i need it now. And you say i dont have 800 cash. How will i do it . There is really no alternative. Go to an atm. However now you dont have to do that anymore. You can take out your phone and download the mobile app and transfer the money. If you dont have the account, i can just get your email and use your mobile app and send it to your email. Rishaad thats all very well, this email. But the thing is i dont physically have it. How do i collect on it . You cap on the link and open up to the mobile app or website and the money is there waiting for you. Rishaad it is there straight away . Instantaneous. To transfer money, you have to have an account. Canaad so essentially i forward it to my bank account is what you are saying. It will be waiting in my bank account straightaway. You will be on the platform account and you link a bank. It takes two days to link and goes to your bank the next day. Rishaad so its not instantaneous. It would still be quicker to walk to the atm. Initially. But after you register, it is instant. It is not just for the guy who writes the check. It is for the guy who has to cash the check and the bank. It cost the banks of 15 hong kong dollars a check. There are 150 million checks a year in hong kong. That is over 2 billion in efficiency we can take out. Rishaad the authority, are they on board with this . There are about 20 applicants. They just came out with able they would start monitoring and regulating this stuff. We are one of the applicants. Rishaad you say 20. The competition, who is the competition . Everybodys model is different. Rishaad pets like your octopus card. Users moneyou take and story with you for more than a day or two, they consider that regulation. You can mail your money to the post office. Rishaad eliminating checks this something the bank of england wants to do and the u. K. Government wants to do in a couple years. Its not that easy. Checks have been around for over 300 years. To eliminate the tradition and change the habits come in takes a long time. Rishaad what about the authority in singapore . Other Central Banks in this part of the world . Have you been approaching them . Eventually, we would expand and cross borders. At this point in time, we are just looking at hong kong. Rishaad you are very much initial stages in terms of a startup. Where are you next . What do you need to do to get this going. Were trying to get a few other currencies and when we , we are crossing the border. Rishaad are you looking for funding . Well, we are always looking for fundy. Funding. Ideally, we are looking for a Strategic Partner who can provide users as well. Rishaad you need a big basically. Absolutely. Rishaad why the name . Its mandarin. Its silver transfer. Thank you very much and good luck. Yintran talking about getting rid of checks finally. Up next, this ending hong kong for odd. We hear from an awardwinning artist about her exhibition in greater china. Rishaad trending business coming to you live from hong kong. Asias premier our show featuring 200 39 of the worlds leading galleries starts off in hong kong thursday. Exhibits, they onetime wild child of british art. Crazy. I said to someone its like a francisco like san internet in hundred or something. People are so excited because its in your territory. You have all the biggest collectors come on the museum directors. Its nice to see a pivotal change in the axis in the world. Its good to see that movement. Society here is much more conservative than in the west. When you were preparing her exhibition, did that factor in at all . My show isl about love. I depict love the same way. Is it different . In other parts of the world . I dont think so. Inont think theres anyone china who wont understand what the work is about. For me to think i have to censor it four in asia and audience would be patronizing and condescending and i dont want to do that. Is there a reason you chose specific paintings . A twoeally wanted it dimensional show. I didnt want to do sculpture. I wanted to make the show as clear as possible. This is my first show with large paintings ive done. Its not just my first show in greater china, its my first show with a large paintings ive done. You have made an impact on our history. To think there is still more left for you to do or are you done with that part of your life . I financially succeeded quite well by accident. Most artists do not. Its very difficult to earn a living as an artist. Through my work, i have managed to be a massive benefactor to a lot of charities. Things lot of different that would be profitable if i hadnt been a successful artist. I can actually make a small impact into other parts of the world which i think need help. I think everyone has a certain responsibility to do the good things and change the bad. Rishaad and were continuing our coverage throughout this week. Up next, a risk assessment. A potential grexit with the former trade commissioner. And men who doesnt believe it will happen. Oh, hi micky dolenz of the monkees here, getting ready to host the flower power cruise. announcer were taking the love generation to the high seas and reliving the 60s. Well celebrate that unbelievable era with the music that made it so special. Therell be over 40 Live Performances featuring eric burdon the animals, micky dolenz, the monkees lead singer and cruise host, the 5th dimension, the lovin spoonful, rare earth, spencer davis, three dog night, and many more imagine enjoying all that great music on the fabulous celebrity summit, leaving Fort Lauderdale and making ports of call in jamaica and the bahamas. Youll be back in the days of bellbottoms, peace signs, and so much more, with special theme parties and 20 funfilled celebrity interactive events. Cabins are filling up fast, so come on, relive the era you remember so well. The flower power cruise, february 27th, 2017. Let your freak flag fly. Dont miss the grooviest trip at sea. From our studios in new york city, this is charlie rose. Charlie welcome to cuba. Thank you. Charlie why did you want to come . The main reason is that we were able to come. The idea of doing a concert here. Weve done a lot of concerts. Ive always been fond of cuba. I just thought when i had the opportunity, we had to do that. The first to come do it. Charlie its been an interesting month in cuba. You, president obama, the rolling stones
comparemela.com © 2020. All Rights Reserved.