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tv   Trending Business  Bloomberg  November 22, 2015 9:00pm-10:01pm EST

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with triplebbb. its chief executive cannot be found. he has not been seen since wednesday. follow me on twitter. the day is getting underway in jakarta. we have a mixed bag. hong kong was down but flirting with the gain line. caution whenlot of we talk about what a lot of people are saying. we may see these play out a little more clearly, right up until december. it is fairly quiet, volumes are quiet. with very little economic data coming out of there. it is fairly mixed. overall, the benchmark at the
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bottom of the screen, ex-japan is pulling that down. let me break this down. where we are. every single sector in asia is higher. let's have a look at where we are. we might have to preserve some cash to really, i don't know, preserve its rating. we have ubs cutting its price. industrial metals and base metals are moving lower at the moment. this benchmark our are moving lower.
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you can buy a metric ton of nickel for the same amount it would take for a reasonably priced piece of plastic. it have to choose. --you would have to choose. things are fairly quiet. the u.s. is looking at a shortened trading week. there is nothing much else to say, really. >> little reason for optimism. heidi is here with the man is. heidi: it has been horrible year for commodities prices. if6 will not be much better you listen to the current run of remarks. this is the worst that we've seen in seven years. --le'
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industry is reluctant to shut down a major mines. copper primes are down 27% already. this is on the back of concerns over a slowdown in china as well as the u.s. dollar strength. -- are keeping an eye on aho has little been up and i-- little bit of an eye. 30'scan be trading in the through 2016. he says the demand from china continues to weigh down, as well projections coming from the big four majors. smallerns the marginal annual producers will have to shut up shop, according to andy. we are looking at oil prices on the back of those comments from the oil minister of venezuela. he has seen oil prices drop as low as the 20's if opec does not take action to keep up.
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ahead of that, venezuela is urging ministers to adopt an equilibrium price near investment in production capacity. atchmark crude is sitting 44.66 a barrel in london. we cannotis saying allow for the market to continue controlling the price. that's a look at how this key commodities are faring. . it's not a pretty picture. -- brokerage says it cannot contact the chief executive of its hong kong unit. -- hey say they cannot the biggestof units of one of their largest brokerages.
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the deputy ceo will be temporary chairman. farily high profile. he is involved with the china security association of hong kong did this development-- hong kong. regulator ats citic securities in the top fund manager have been, and investigations in china. we will keep watching this and let you know as this happens. rishad: we're having a look now at some of the other stories we are following. the reverberations of events of friday th13 continue.
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juliett: belgium has kept the terror threat in brussels at highest levels following the attacks. brussels is a ghost town with all schools closed. there is evidence of an imminent major attack. multiple venues could be targeted, with bars and public transport a likely target. since it been on alert emerged that several paris attackers headed to brussels. salah abdeslam is said to have been the organizer. he has not been found. stagedto stage raise-- raids and captured 16 people, but salah abdeslam has not been found. there may be relief insight for emerging market investors. goldman sachs and bank of assets strategists said
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are bottoming out. stocks are so depressed that even a marginal outlook could shift sentiment. optimistic is more about emerging market assets in the years to come as we see recovery in mexico and poland. watch out for gains in the peso, the ruble, and indian stock. we may here as early as today the proposed megamerger between allergan.d it would become one of the biggest companies ever in the pharmaceutical industry. they were expected to sign off yesterday. there will be 11.3 shares for each allergan share.
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ceo ian reid will have the new company.-- head the new company. it is designed to bring together the makers of botox, viagra, and reduce liabilities. rishad: on her website, we are crisis andthe syrian the growing threat of terrorism. ia.t's asia's largest, visual art museum. we look at the millions of dollars it holds. and the largest in asia. we will have that, right after this.
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juliett: these are the stories making headlines around the world. the opposition leader has won in presidential election argentina. macri gets 62.6%. he is a two-time mayor of when of buenos aires. he will succeed cristina kirchner who took over in 2007. myanmar authorities say the number of people killed by a landslide has risen to 104. stillople are unaccounted for. of some was the maker of the highest quality jade in the world. the economy has boomed since the
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military relax its grip on myanmar five years ago. thats have been dismissed japan has militarized the south china sea. china has great facilities there. --na's lack of relation work reclamation work -- present obama has said international law must be followed. --is rated at the highest a level by three of the major ratings agencies. cut.could be facing a paul, the, the route is really keeping the pressure on thbhp. paul: copper up, oil is down by 20%.
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commodity didbest our best--commodity. bhp e case of uncertainty, there is a potent mix related to their credit rating. credit rating is in line with a bbb rating rather than standard and poor has them at. what does this mean when it comes to bhp's dividend policy? it is progressive, is it in danger?
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paul: is controversy of. --controversial. --it is controversy of. it was stressed that bhp would not do anything that put its balance sheet at risk and they would not do anything until february when the earnings are announced. figure out what someone really meant to say, you look at the remarks and can conclude the aggressive dividend policy of bhp is under pressure. thatd: venezuela's warning while prices might slip if opec does not take action. tlar areabia and cu week.ed to meet next
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to--attendingping share.efend its market says the government may consider to support women and work. is laid out three new themes for september, strong economy, childcare support, and social security. the san francisco fed president has reinforced the view there will be every type-- a rate hike. he sees a strong case for the december liftoff. he says that all depends on dates that continue to be encouraging. he stressed the imports of the fed not being locked into rate increases after the initial moves.
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there's plenty coming up on bloomberg, including the liquidity and what the rate hike means for them. this is trending business.
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rishad: another big week of data and earnings in the u.s.. we look at some the key events for investors.
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the week ahead on wall street will be a holiday shortened week with markets closed on thursday in observance of thanks giving day. there will be a fresh round of economic data, including sales of previously owned homes which slowed in october from the prior month wall purchases--while purchases of new homes climbed. a report shows the u.s. economy and the gdp through a faster pace than previously estimated in the third quarter. the gdp is expected to rebound. tale ofetting into the earnings seasons. among the final companies set to report our tiffany, campbell soup, and dollar tree. friday, we will get the first major indication of consumer strength during the holiday season.
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u.s. retailers online and brick-and-mortar will kick off shopping with lack friday sales--black friday sales and events. -- has faced intense , including whether the mutual funds will cross paths with high-frequency the traders. the largest independent dark is at 800 asset managers. they oversee $4.3 trillion. you,d, i'm going to ask what are these dark pools? edward their private trading venues. it would be a large investor trying to buy something, and they declare their intentions, they want to buy a cell.
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the volume of the price is often not disclose, allowing people to secure and by large blocks of shares. ashad: so tell me, we've got possibility that the fed will start tightening monetary policy. how does that play into what you do and your business? seth: reent of lgest asset managers around the world. hong kong is the last stop of my tour. is what ahere difference a year makes. lester, everyone was ecstatic. money was flowing into the region. today, people were very enthusiastic about japan. now, people don't know where the third arrow is going. china is not going to grow at a percent, probably not at 6%. now, money is obviously flowing out. between thatrence
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and what we provide his to 43 different markets around the world. to 43 different markets around the world. allow ourhat we can asset managers to more efficiently access the markets they canand they know get into these opportunities more efficiently and get out of these opportunities more efficiently, money will flow in and money will flow out. next year, the outlook around this region could be dramatically different. in the case that, whether it is or it isn't, the fact that we make access to these markets more efficient for these asset managers around the world, it is actually good for the economy. we have 11 different market top --markets out here. bringre investment we can into the markets, the better it is for the overall economy ies. eduard: in asia, it is common
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that there would be one exchange for country. they would be the biggest trading venue. you compete with them and try to take their business away. in hong kong they feel pressure from exchanges that are having businesses taken by you. seth: it's the opposite. the changes have been the pricing mechanism. their price formations. --they are price formations. they don't handle the institutional sector well. when you put the change there, basis of a complementry market structure where you can handle institutional and retail sectors at the same time. regulators around the world have embraced liquid net as complementry to the market structure. they want us to come in. when people want tighter
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regulation, howdy respond? seth: the transparency that the fcc wants to put on dark pools is positive. there are shenanigans that have been going on and dark pools around the world. it is important that the transparency of the rules of everyonet, you know, knows how the change works. everyone knows who's a participant of the exchange. the dark pool sector has a large enough that it is important that for confidence in the marketplace that we tell everybody, ok, these are the people that participate in the dark pools. these are the rules of engagement. people understand. eduard: image at regular speed there's--you mentioned regulators. positive fort's you to take the share. --this share.
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seth: the dark pool execution sizes are no different or are smaller than the other markets on the exchanges. what banks have found out is they don't make money producing or providing the start pulls-- these dark pools. the risk is not worth the reward. we will find a contraction in the number of dark pools going forward. net going liquid forward will be good for our business. rishad: we have 35 seconds. the stark bulls, can this business tell us where there is momentum--can these dark pools, can these tell us where there is momentum? seth: all we can do is provide access to more than 70% of the
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world's public we traded companies around the world. that is important for performance. that onevitable country is perhaps going into recession or not. perhaps the region is. if you take 40,000 public companies around the world, there's always opportunity, somewhere, that the institution can go and access them. rishad: make you very much. break--ke a thank you very much, let us take a break. we could be close to a crucial multi-billing on a payday. what's look at that, next. --let's look at that, next.
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we'll credit your account $20. it's our promise to you. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. rishad: top stories. saudi arabia and stocks are rising highest in four weeks after is heard that opec is working to save the oil market. opec will set equilibrium prices at $80. the proposal is being considered ahead of next week. sydney is looking at the possibility of a possible
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showsfault risk model that it is more in line with a triple b. the hong kong division of a chinese brokerage is saying they cannot contact its chairman and chief executive. it has not been able to reach him since last wednesday. temporarynted a replacement into the management role. let's have a look at what is going on, market wise. david: i will give you an update on what is going on. here,icing in australia the chp is really dragging the minor states lower. we are down 2%.
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two things. we have ubs cutting the price targets. there is some concern that they may have to pull back or reduce the dividend. we have a report this morning, we may be looking at some the units of the company here, we have not actually approached will worth-- woolworth yet. similar gains from meyer holdings. we are getting at least three brokerages this morning, also talkingbs, about changing the rating due to recent price weakness. cathay pacific has a
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meeting with its union next week. they are looking at a 6% increase in salary for pay rises. president of of -- chalco is stepping down. oil prices remain depressed. 1.42%.ina, down long story short, you cannot find the chairman. they have not been able to contact the chairman since last wednesday, so at the moment, junan is looking at two changes in staff. i leave it there. back to you. rishad: the u.s. president joined asian trade partners from southeast asia for the last summit before the region because
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an official economic bloc. there was plenty of talk on trade. in malaysia, we're joined from kuala lumpur. this is the sixth meeting andeen president obama razak. sophie: when it comes to the tpp, he said this was certainly the highest standard trade agreement given that it enforces itict standards and how ensures that penalties and consequences are seen through. it remains to be seen if all 12 theers want to push through trade pact into legislation.
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he says he has to go back to congress and make sure he sells it to the u.s. as well. rishad: tell me about this proposed partnership in the spotlight. china is attending to this and make sure that this is a way to counterbalance what the u.s. is attending to do with the tpp. the 16 members want to see a deal done by 2016. talking about cooperation, it is standing firm on the south china sea. we saw a lot of rhetoric around territorial disputes. it says its attempts there are to make sure that they protect the reef. they are saying this will enable
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$10 billion of infrastructure to the region. japan, not to be outdone over the weekend, since they says it would also widen the infrastructure funding program to the region. rishad: thanks, sophie. becausewith malaysia, today, a state investment cap there could be selling its power unit for as much as $2.3 billion. news has been tracking this. they have been trying to tell you this for quite a while now, right? ben: it's an on-again off-again project. it has been very unclear. they said we will sell it, ipo's, no, we never planned to sell it. now they are selling it. it has been a huge mess. they announced a plan to sell
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down their assets and gradually wind it down. rishad: they're joined by another company too? they're looking for expansion overseas. the china power market is slowing. they're looking for opportunity in southeast asia where they could get higher returns. rishad: what's the deal for malaysia? ben: investors can breathe a breath of fresh air. has been going on for a long time. rishad: let's check in on the other stories. there are reports of job cuts. the sunday times newspaper says deutsche bank will cut 1000 jobs in london next year.
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the bank's latest trick its workforce by 9000 over the next three years and eliminate 17,000 other positions by closing some operations around the world. french shipping company cma is in exclusive talks to consolidate more than 10% of its global to containment market. neptune is running at $1.2 billion in losses since 2011. they have until september to reach an agreement. moon may be over for china's economy, but that's not for the country's startups. list when ite comes to growth in global startups. 44,000 businesses open every day. tortups and china doubled 1.5 million.
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india is just behind. the slowdown in china is being confirmed. let's have a look at this. 3.5%.are up it can't be as bad as all that, actually? the days of 30% growth are long gone. this year is lower. the chinese government is stepping in and cutting sales tax. october sales have improved a little bit. again, the hyper growth rate is not been a be around. rishad: are people trading up, down, sideways, etc.?
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they are doing suvs. but they are smaller, not necessarily gas guzzlers. with the two child policy coming online, it is going to spur more growth in the suv market. for automakers, topline is not the only thing they need to focus on. they need to look at where to cut costs. they need to find new ways of redesigning vehicles so that they are cheaper, lower on capital. so how do they create value? or how the cars they produce, essentially--sir how many cars how manyuce
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cars they produce, essentially? steve: it's a numbers game. they produce as many vehicles as they can off of one design. does iss colonize parts across multiple vehicles, lowering resource cost for automakers. rishad: we will take a break. afterward, we look at how singapore is going to open asi'' biggest visual arts institute. there will be a national gallery. were returning after this. -- we are returning after this.
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>> please of the stories making headlines around the world. extra $4.5ut in
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million in the search for the missing malaysia airlines flight. australia's core dating the multinational search of the south west coast, which has cost $120 million. most of the mh 370 passengers have pledged to spare no effort to find out what happened. ianson resi tenced for spying. the verdict was not final. it is expected to be appealed. she is a dual u.s.-iranian citizen-- she is a dual u.s.-iranian citizen. ukraine have the knocked out power. a state of emergency has been declared. officials say it could take 4
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days to fully restore it. they are investigating the blast which happened friday and saturday. antitank lines may have been involved. russia annexed crimea in march of last year. singapore's newest arts and culture destination showcases its opening on friday. bitou could say i'm a melodramatic, but this could be a new dawn for singapore. was built at a cost of 400 million dollars. it sits into historical buildings, the former supreme court in the city hall. singapore city hall is a
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historical place. it is where the surrender of the japanese monster was surrendered-- is where the surrender of the japanese was administered in world war ii. self-governance was declared in this space as well. it is a historical to buildings. this must be a moment of pride, because it was 10 years in the making. >> it was fascinating. it is 64,000 square meters. >> meters. [laughter] >> we are really so privileged to have these two monuments restored for all memories of the public to come to singapore to see not just the history of the buildings but also the art that has come into it. haslinda: and it focused on
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southeast asian art. why's it so important? haslinda: singapore as part of southeast asia. >-- >> singapore is part of southeast asia. we are highlighting the art in terms of the southeast asia context. anything that is important for us to now showcase, the work of , andrtist from the region hopefully it will garner understanding of the development of the art history of the region. where does the gallery stand in comparison to the big ones that we see in paris and london? >> we aspire to be like one of them. we are new, we are starting. this is the beginning of a journey. it is 10 years in the making. a lot of love and passion has gone into it. everyt to make sure that
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piece of art and every visitor that comes in to see this will be a legitimate and understanding-- will be able to generate an understanding of the region and renew interest in art itself and singapore and the region. haslinda: what is a must see here? know one of the pieces is called drying salted fish, which can be found on the $50 note. there are many ar>> must-sees. you'll need many visits. arefact that they exhibiting in important buildings that have a history and historic moments that you have mentioned, i think it adds to the presentation and meaning of the art. how difficult was the
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construction? the work involved? >> it was very complex. when you want to preserve a buildings were built in 1929 and 1939. everyone was on a tight budget. this building had a soft foundation. it is tilting to one side. [laughter] >> it's very stable. there are three levels of basements to add carparks which added to the competition. it is well worth the time and investment. anyone who can enjoy these spaces can see it very seamlessly. what other events can be expected that will be staged or hosted by the national gallery?
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exhibitionspecial which we will co-curate with other international museums of the world. the first show will be about reframing modernism. i think is import and for us to be able to place southeast asian art side-by-side with important art from the west. commonthen look at the links, the differences, and further, it and our knowledge-- expand our knowledge. we are very fortunate and privileged to be a partner with these renowned museums from across the world. haslinda: we of course invite you to come for a visit. rishad: i'd love to. thank you for that. next, a passion for fashion. we meet the woman who has been driving trends in china for the last decade. ♪
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♪ rishad: this is trending business. she is sometimes called the and winter of china. her life was loosely fictionalized in the double wears product. she has millions of followers on social media and is credited with creating today's high-end chinese fashion scene. theo to a look behind magazine, which has celebrated its 10th anniversary. ♪ women with the" confident, grace, and influence grace the covers of opevogue
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have become the face of an empire with a readership of at least 1.2 million for the print edition alone. angelica chong is the one who has to find just the right look. >> how much is it your choice? are you judge and jury? >> this is not a democracy. i'm the editor, i decide. hashen: the last 10 years pushed it to the pinnacle of the leading toire, comparison with her counterpart in the u.s., and a winter.-- anna winter. bull* * .t * * . is no time to bull
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to have thateeds feel. you need to have an optimistic and positive attitude on like they can take you through all these problems. stephen: it's not just a celebration materialism?= --celebration of materialism? >> no. it is not about the wealth. it is about the woman. a very confident, positive, loving, brave woman who knows how to dress nicely. , working ont something that is right, and at the same time, making a lot of money for the company. [laughter] stephen: while traditional print media suffers elsewhere, vogue china must turn away advertisers. 432r december magazine is pages thick.
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to be respected as well as being big, that is all of our ambitions. chinese][speaking to it was back to work find the next face of modern china. bloomberg, beijing. rishad: that's the final installment of the hunger games franchise. it made a disappointing t debut. 2 was somewhat shy of the estimates. it was the smallest debut of any of the four films based on the book series by susan collins. the final film was made into two parts in the interest. of a longing interest--in the
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name of prolonging interest. while that is it. --well, that is it. ♪
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this is the middle of the trading day. this is asia edge. look at the top stories. at a coveted a grade possibly beould
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more at a triple b. this hour, moving the goalposts. moving the goalposts despite after eight years of planning. art attack. a new national gallery throws owcasing doors, sh the best of southeast asia. we will be live first defeat. peek. for a sneak more on thisnd sunday poss addition of asia edge. let me show you what has been happening. we have seen a surge in the valley of-- we are now closer to 106. let me go on by one.


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