harnessing solar energy in india. from lebanon, women carve a new independence and shape their own destinies. and from a young filmmaker, protecting the planet through his passion for trees. the world's first canal top solar project. s.s. rathore: the state is located in a place where we get 300 days of suitable sunlight. announcer: in india, 35,000 solar panels stretching almost 4 kilometers provide both jobs and energy to the poorest... announcer: and cut greenhouse gas emissions to curb the rise in global temperatures. narrator: gujerat in western india is steeped in centuries-old traditions. but today, it's leading a revolution in new energy technology. these changes have transformed the life of 23-year-old parth purmah, who lives in the city of dodara. growing up without his father was a struggle for parth and his mother. narrator: despite the setback, ranjan behn was determined to educate her son and provide a good life for him. she managed to fund parth's secondary education with the little money she earned fro

india. under a parliamentary system the congress party led by a hot mug on the and jawaharlal nehru would always win. -- van gundy. they would get the majority of votes so the muslim parties would be confined to impotence. into system they feared it was almost a winner-take-all system where if you and the government, your friends and family and would get the contracts. you would like the textbooks and school. you would write the rules of worship and so when. and citizenship. and so the political leaders, mohammad ali jinnah argued the only way muslims could be safe after the british left was if they had a state of the own, whatever a majority, where they ran the government. and that was at the very top level. but what happened, political leaders come as you said you'd be very careful about how you talk about these things, what you say. they would paint these pictures for their followers of the terrible things that were going to happen if they didn't get their own state. not only would you be

western side of india. this is where the border is going to go. they decided to divide areas by hindus for a majority and do a split half-and-half. a new border is going to be drawn. the problem there is a third community known as the sikhs who were very small community, 5 million people in the middle of the province. is that it that you are sent a go in the spring of 1947 within a few months of memory, they had this vision of this vision about what happened to them that the the british drew this border and found themselves on the wrong side of the line. there were heavily militarized. that's why it spread very quickly. it is very concentrated in this area. they were pushed out in hindus and sikhs are pushed out from the other side. as you have this movement of people, 14 million people across sides of the border for the span of a few, you know come you had these miles long convoys of refugees. 250,000 people essentially defenseless. there were some soldiers trained to guard them, but they would come swoop

and i showed it to india. i said, "ins, this is-- i'm really thinking that i want to do this." >> whitaker: the proposal suggested that through environmental conservation, a community can not only sustain itself but more importantly enable children to thrive. >> howell: he said, "you know, i've written a business plan." i said, "oh, i would love to see it." >> whitaker: what did you think of this plan when you saw it? was it-- >> howell: i thought it was brilliant. >> whitaker: --this is realistic? >> howell: i thought it w-- hm? >> whitaker: did you think it was realistic? >> howell: i'm very practical in my-- no matter what idea comes to me, my first thought is, "and where does the money come from?" because it doesn't matter if it's a good idea if you can't pay for it and sustain it. >> whitaker: so peter's proposal was all but forgotten. then this happened: one of india's employees at the safari lodge told her he was not only quitting his job but abandoning his three-year old son, named doctor. just like th

even if it hadn't happened, there's no proof that india, unified india would've stayed unified. these pressures still would have been there. these fears, possible five or ten years later it could've broken up along different lines. the other thing to remember is that in 47, the british only directly controlled half the continent. the other half were independent kingdoms ruled by monarchs who legally were independent and could choose to join india or pakistan if they had just left them unified. all the leaders made mistakes. they did try to compromise. the british, for a year had tried to bring the two sides together and about a year earlier, they had come up with a compromise. it was a very complicated rickety compromise where you have a unified india with a very weak central government and the muslim areas would have a certain degree of autonomy and individual providence would have other powers. it was a face-saving way for everybody to agree. and they did agree. but, then, almost immediately almost immediately after they agreed to it, the party leader at a press conference and

>> india is on a large scale. in terms of total units, they are about half the size, but they're still the second-largest country. from a total available market standpoint, they can provide a growth engine for apple. last quarter, apple grew over 50%. apple can definitely grow in that area. let me say, other premium smartphone vendors are growing. xiaomi is almost twice the size as apple in india today. it can be done, they just need a wider range of products to do it. emily: crawford, thank you so much, and david kirkpatrick, for speaking with me. speaking of good well trips, jack ma had lunch with president obama on tuesday. although the meeting was not on the public schedule, reporters spotted him on white house grounds and a spokesperson confirmed the closed-door meeting. they had previously shared a stage last fall and discussed climate change and government support for entrepreneurs. the latest meeting comes just days before obama leaves for a trip to asia. coming up, my interview with microsoft chairman joh

can india make up for that or are they on a completely different scale, india versus china? >> in terms of total units, they are about half the size, but they're still the second-largest country. a total available market standpoint, they can provide a growth engine for apple. last quarter apple grew over 50%. apple can definitely grow in that area. other premium smartphone vendors are growing. they just need a wider range of products to do it. crawford, thank you so much, and david kirkpatrick, for speaking with me. trips,g of good well jack ma had lunch with president obama on tuesday. reporters spotted him on white house grounds and a spokesperson confirmed closed-door meeting. they had previously shared a stage last fall and discuss climate change and government support for entrepreneurs. the latest meeting comes just days before obama leaves for a trip to asia. coming up, my interview with microsoft chairman john thompson. his advice for marissa mayer. you don't want to miss it. ♪ emily: microsoft says it should .emain in the eu brits will vote on whether to stay or go

india factors much less in our discourse. if you think about it, within a decade or 15 years, india will have 100 million more people than it china. it is going to be the third-largest economy on earth. laura: these two countries are the superpowers of 30 years time? >> i think they are. and i hope it's not a competition between three superpowers. i hope it can be a cooperation between china, india, and the united states, where we get along quite well. trade remains open. there are no military conflicts. that is what i am hoping for and what i argue for in the book. free for that, but you know the situation in the quarter hours of power washington, in delhi, and beijing. how do you think the three countries see it? >> right now is a difficult time in our relations with china in particular. when you talk to folks on the chinese side, they seem in a defensive crouch just like we in the u.s. are. we are worried about our blue-collar workers. manufacturing has been hit pretty hard. china's, as well. they had to layoff off 5 milli

i want to talk about india. their finance ministers that india's economy remains on track and yet, we see evidence of capital flight from emerging markets including india. yes.: angie: go ahead. go ahead, robert. guest: sorry. are seeingent, we evidence of a stronger u.s. dollar across asia. one thing to watch is the dollar/china. italy's for the moment, we are not seeing any signs of capital flights. i do expect over the coming months as the fed moves toward a gradual and cautions -- that janet yellen talked about -- then we will begin to see some flight. of capital we have to watch levels fairly closely. the other thing that is going on as we are seeing soft global trade and the momentum that is something that may undermine confidence in a while and laced for the moment there is no sense of capital flight technically raises watch how the fed rates and what sort of impact that has in asian markets because certainly the risk is that we are not correctly pricing rates in the u.s. in the short-term. we cannot comp

manus: and a glimmer of hope for india's rural economy. forecasters say the monsoon should be above normal this year. it is 8:00 a.m. across the emirates, 5:00 in london. i am manus cranny in dubai. salamat inam rishaad hong kong. welcome to "bloomberg markets middle east." manus: no-show would be complete without the news over the they have decided to change directions a little bit in what is happening to the oil markets. that's pretty much where we will kick off "bloomberg markets middle east." put it in context for you. what happens? a number of factors in play in deciding production. saudi arabian oil production is trending higher. will they go for more, as we go towards the next opec meeting? hale producers are rising, but it is on leverage and not profit. brent crude is rising. traders are cutting net long positions and short bets are rising. net long positions are dropping over 4%. re: at an inflection -- are we at an inflection point in oil markets? rishaad: there are so many unknowns here. what happens? we are not seeing any freez

does this change india's economy? stage, i would say the successful launch of this mini-space shuttle is a technology demonstrator. one of the distinctive features is the low cost with which this particular shuttle has been experiment hasey been successful. i would not extrapolate this to say that it would make any immediate difference to the indian economy. india could emerge as a credible -- in a numbers of applications. the economic benefits to india are for the long-term. angie: absolutely. we have seen that economic return play out under the nasa program that has punt innovations -- that has spawned innovation. india is only spending a fraction of what nasa spends. how much impact can it have? >> that is a distinctive feature. if you look at the nasa program as the benchmark, the cost is about a 10th. this particular experiment cost a little under $15 million. at the comparable figures for the other countries , thehave preceded india united states, russia, france, japan, china, you do observe that what india brin

and i showed it to india. i said, this is, i am really thinking to do this. >> reporter: the proposal suggested that through environmental conservation, a community cannot only sustain itself, but more importantly, enable children to thrive. >> he said you know i have written a business plan. i said i would love to see it. >> reporter: what did you think when you saw it? >> i thought it was brilliant. i am very practical. no matter what idea comes to me. my first thought its where does the mun neoney come from. it doesn't matter if you can't pay and sustain the. so peter's proposal was all but forgotten. then this happened. one of india's employees at the safari lodge told her he was quitting his job and abandoning his 3-year-old son named doctor. just like that. india was thrust into motherhood. >> there is this little peanut in a shuka, the fabric that the massai wear. we just looked at each other. and it was look we had been looking for each other forever. and we finally found each other. and he just ran in

india will also join next month's exercise with the u.s. navy is the japanese maritime self-defefense force in waters near japan. it is boosting security cooperation with the two countries because of china's growing presence in its nearby waters. speaking of india, sayaka mori is here with an update on the cyclonee threaeatening the regi >> the first cyclonic storm of the region is affecting eastern india with strong winds as well as heavy rarainfall. the system will likely intensify further. gusts and over 170 millimeters of rainfall, the heaviest in a decade. a cyclone alert has been posted in eastern parts of india as the tropical system driftfts north along the indian coastline. fishermen in the arerea are bei asked toto stay out of the wate due toto large waves from the system. the e good newss is s that thihm is causing heavy rainfall, and it is easing the heat wave. that's at least good news. this system is is packing winds of 65 kilometers per hour with gusts of 90 kilometers per hour. it's not too strong at this moment. this is equ

this week google announced it will allow users in india to access apps and that's a big deal to india consumers because credit card use there isn't as popular as it is there. less than 5% of the population uses credit cards. india is now the third largest market for smartphones. last year 102 million smartphones were shipped there. google is making this move just as apple is also targeting the indian consumer. tim cook said why he's so excited about that market, although apple controls about 2% of the market. >> india today has been 50% of their population at 25 years of age or younger. it's a young country. people really want smartphones there. this year, the first year, lte begins to roll out. >> reporter: the two tech tightans has different tactics when it comes to winning in india. for google it's about apps and apple is focussed on selling devices. iphones can cost more than android phones. apple wants to import and sell pre-owned iphones, but the government hasn't made an official decision whether to allow that. apple can't just open a store in india without government approval.

india. india uses roughly 4 million barrels of crude oil per day, less than half what china uses. with growth projected at 8% analysts think indian demand will pick up significantly. >> they're so committed to growing manufacturing jobs. we've seen very strong key mantes for diesel on the back of that. with indian demand growth it's not just diesel, it's gasoline. they're building a petroleum reserve. is india going to replace china as a source for emerging market demand for oil? >> genscape highlighted iran's push to sell crude to india. india took in 6 million barrels of iranian crude in january this year. the number went up to 17 million barrels in march. as iranian imports increase, imports from iraq and nigeria have gone down. in an environment where market share is king, this is an important sign. >> everybody wants to be at the best party in town. and india really is for oil demand growth the best party in town. there's no surprise what we're seeing with iranians is a clear strategy to undercut the other producers to gain market access. >> so far this year demand's been fla

in india, it is 100 -- her smartphone. in india, it is $120. the average in china is $280. appleshare in india is currently around 1%. it is nowhere to go but up. what they are really trying to do to gain traction there is to get distribution set up, and in that sense the news is a blow because they really want to do it through opening apple stores. india are alln these really mom-and-pop retailers. you can see them on the streets in new york. they do not have best buy, walmart, amazon, as big distribution channels for the iphone. so, in that sense the news is bad. they will get through it. it is really a process, and i think over time they will do just fine in india, but i'm not sure it will be a rerun of china. shery: i'm surprised that you are saying it is not the next china. john: i think in a growth sense, people -- you can make that comparison. ,ver the next five years smartphones in india will grow on average 20%, and that is similar to what we saw in china the last five. you for yourthank time. john butler joining us from bloomberg intelligence. we are also watching

and reports from india say that u.k. has turned down requests to extradite a tycoon accused of walking away from as much as $1.4 billion in debt, connected to kingfisher airlines. he has also asked interpol -- interpol has also been asked to issue a red notice for his arrest and extradition. he has denied being a to falter and has shown several sums showing that he intends to pay up. this is bloomberg news, i'm yvonne man. has reported its first annual sales decline in a decade. for your revenue fell 3% and came in at $25 billion. much of that can be linked to a stronger dollar. the airline says it is facing fewer bookings, the oil industry, and the uncertain global outlook. however, the ceo remains upbeat. he told bloomberg radio he is not worried about overcapacity. isas far as overcapacity concerned, that's a view held by many carriers. we don't share that view. >> y? >> because our network brings strength. we have 150 cities on our network. as we issue subsidy paris, we turn on business with other city pairs. remove

coming up, india's financial minister on the future of the economy. more from our exclusive interview, next. ♪ >> 10:45 in hong kong. the stories making headlines around the world. lawmakers in cambodia have been allowed to petition the king about what they claim is government intimidation. police prevented protesters were marching to the palace, but allow them to avoid potential violence. critics say the prime minister is stepping up on the opposition ahead of elections in 2018. social media has been ordered to use the official title. canada's biggest energy company, suncor, has restarted operations near fort mcmurray. they lifted the last mandatory evacuation orders and production begin again. they say thousands of employees are back, with the number to double in the coming weeks. it forced about 80,000 people to leave fort mcmurray. and china has upgraded its mapping system, putting a second satellite into orbit. it was carried into space by a long rocket and will join a network of satellites helping urban and rural planning, land surveys, disast

india to allow apple to open stores. this seems to be confirmation of that. we will get you any more breaking news that we have on iphone. we also talk ifo and germany next. ♪ francine: welcome to "the pulse." i am francine lacqua. let's get to the bloomberg first word news. nejra: chinese officials are said to be prepping their american counterparts in the event of a fed rate hike. the chinese delegation try to find out if a june or july rate hike is more likely in talks later this month. for the u.s.rise central bank to raise rates for the first time since december. the ceo of unicredit has agreed to step down after almost six years at the helm after an effort to improve capital. his successor was named and he and the board agreed there was need for a management change. bayer says it is still optimistic that its bid for monsanto will be accepted. monsanto says the bid significantly undervalues the company and does not address -- address the execution risk. leaving the european union could add tens of billions of poun

india is the answer. in the first quarter, the older men growth grew by 400,000 barrels a day, larger than china. through 2040, it is expected to grow by another 6 million barrels a day. again exceeding china. india is the place that will be stocking up any extra supply that is out there. yvonne: is this a larger trend? what is really driving the growth? dan: it really is. if you look back about 15, 20 years when china's huge growth spurt started, they're about the same place india is right now, about 4 million barrels a day of oil demand. what china did was embark on an industrial revolution and india is doing the same thing. the prime minister is trying to increase manufacturing jobs. that drives oil demand in two ways -- one, you are making more goods than he to be trucked and shipped which requires oil. you are giving workers better wages. they have more money to spend on flights, cars, things that drive oil demand growth. yvonne: you mentioned cars, i guess you can see a lot of the growth out of the

gainingar that apple is brand value in india. stores, 80 they would do even better than the increase in uber -- user base. my interpretation is the data is what it is. there is an upside the on that and that they not transpire. i think that's good relative to where expectations are. mark: what's the risk. i am looking at the anr function on bloomberg. bullish analyst is more than you. is $157.e target 84% of analyst have a buy recommendation on apple. what is the risk that you are too bullish? isal: mike price target based on eps estimates. that is a discount to where it has to be. the question becomes what is the catalyst to survive? to giveou've got year-over-year iphone use. we've been getting the deterioration of the stock price. i think that's going to push to $131. this year over year growth is going to be the same. we are on a sick of pitted upgrade. they have a stronger refresh cycle. i'm not sure why that is. result, we are to have the same growth system. you're going to get two years of adjustment. that's going to drive

india expected to show growth. up about 7.5%, which would easily place india as the fastest-growing major economy globally. accelerating inflation is kabul getting the policy. meet june 7 to see if rates need to be recalibrated. gdp is due out in :00 p.m. local time. apart from that we have hong kong retail sales. over 60 data points do from asia-pacific. jpmorgan emerging-market currency index, roughly a 18 month look. that is the drop that i mentioned. sharpest drop since may 2013. what happened then -- that is of course when the former fed chairman first uttered the word caper, and sent markets spiraling down 5%. only aboutnot emerging-market currencies. have a look at what happened to march -- majors. repricing -- let me look at the one-month. there we go. everything's down except for the pound, barely up. every single major currency, as we mentioned south korea one of the worst performers. so a lot ofshort or these high-yielding currencies. we are seeing a little bit of unwinding. -- close markets, if it is gr

with that work in india? might, but you're getting regulatory hurdles and some of the cultural issues. expectations, i think it's a multiyear process for apple to build its business here. david: thank you very much. that is john butler. hewlett-packard enterprise shares are jumping after the announced its merging its technology services division with computer sciences corporation. ho one of -- hp one of several legacy tech companies trying to remain relevant. here is tom jobs, executive editor for global technology. take us through this. hewlett-packard first had to split recently in the last year. i know this is like a further spinoff of that. take us to the pattern. tom: they are systematically undoing the house that her predecessors built. they built it into this conglomeration. one-stop shop for all kinds of enterprise computing. pic's -- pc's here and higher in storage and other things like that. she came in and initially resisted the pressure to separate the pc business. we saw her eventually get into t

trips tim cook making this to india now? >> india is one of the world's fastest-growing smartphone markets. apple wants to get a piece of the pie. so far, they haven't really been in the top 10 of the market. they need to compete better with competition like samsung and lenovo, which are far higher rank. so far, it has been challenging for apple, because their products are out of the range of most buyers, but they seem to be gaining some market share. they have grown about 56% in the first quarter of this year in india. mark b.: siddharth, what is tim india?plan for apple in is it to open a retail store? what is his vision for trying to tap into this immense market? hedharth: so, tim cook -- plans to open a couple of development centers, including and they tomorrow, opened one in bangalore today. apple wants to open its own single-brand retail stores, which are currently not allowed unless they get government position -- permission. they have been importing everything because they are a high-tech industry. allowing them to o

of all iphones sold in india last year cost less than $100. let's take a look at some of the other stories we are tracking now. all exports out of iran are expected to surge up, 60% from this time last year. share is regaining market , have pre-sanction levels per the imf has urged iran to implement macroeconomic and structural reforms as it once again integrates with the global economy. toy are calling on tehran fight money-laundering and terrorist financing. a british leisure group will overhaul its operations and simplify its product range. the company are very has been due hit by we demand in -- -- by weak demand. the company shares have tumbled over 5% this wednesday. morgan stanley is the latest to way into the brexit debate. once thetment bank decision to leave the e.u. would hurt the british economy. while morgan stanley has put together a contingency plan, they have not taken action. other wall street firms have suggested shifting their operations to other cities in the e.u. in the event of a brexit. another brexit warning coming up.

yet gotten india right. the cheapest iphone is $399. the cheapest smartphone is $135 comese bulk of the demand from the lower end of the market. that is not a market where apple is operating in. this is the fastest-growing market in the world and apple top not feature among the 10 smartphone players in india. apple has a brand-new management team. you're seeing very aggressive marketing and advertising. the plants that have been put in place. lessonolling out but the right here is that you have to indiaing an investment in to get your plans right. you have to get a customized plan. this cannot be a global model that will be forced on india. government officials [indiscernible] it is a while away for them to get the distribution retailing right. for now they have to go with the franchising model for selling the product. .ishaad: great talking to you joining us with the latest on apple's designs on india. the big challenge. it is slightly miss cued. they're trying to leverage what will be one of the biggest mobile markets in the world. is

india, you mentioned the investment there. matthew: we like india. it is probably the most consensus overweight market. that is the problem. if you were in before, it was consensus overweight. for a long has been time for us and continues to be because we have good growth. rights broadly doing the things. people quibble about the pace of reform, but they do have a reform mindset. they are trying to move things in the right direction. it is a broad and deep stock market with some quality companies. indian management has a good concept of the cost of capital. they understand how to run businesses. we find lots of really good companies. rishaad: philippines is another great story as well. does that do anything for valuations here? judge by thee market reaction, it is a positive thing. consensus for you would be that it is not going to change anything dramatically in terms of the reform program that has been in place under the current administration. the story should continue. rishaad: then we go what to avoid. is there a place you would not touch with a

right now, india accounts for just 2% of iphone shipments. local iphone sales surged in the march quarter. cook himself has said india is like china was a decade ago, but there are already signs his trip a not have paid off. here is the rub. india has strict rules for foreign companies wanting to do business there. companies have to comply with a rule that says 30% of the components of its devices must be sourced in india before apple can open its own stores. right now, the apple supply chain is based mostly in china. so it does not meet that criteria. apple wanted to be exempted from this rule and india does waivers toives companies with cutting edge technology sources say they , but sources say they don't think apple qualifies. they still could overturn it but if not, apple may need to find another way to crack the market. emily: turning now to vietnam and president obama's historic tour. the president toward the jade pagoda. dave mcclure is still with us. earlier this year come off hundred start up set up a fund to invest in a local vietna

india's fiverom low -- by low. minister'sfinance decision to turn down the most valuable company. ♪ mark: welcome back. let's check out the markets. nejrais no jura television. down 2/10 of 1% after a five-day winning streak. despite the thin day trading with the u.k. market closed we did see the stoxx 600 hit a high. today we are seeing most industry groups down with carmakers leading the losses. a bit of weakness and european equity markets. i want to take a look at the dollar. this is all about the expectations about the fed after janet yellen spoke. expectations of rate rises have jumped. i want to track the bloomberg index from 2010. it is up for its seventh gain in may. you can see it track all the way back to 2010. of may, the dollar gained against every major currency except the pound because we have seen a bit of sterling recovery with those poles shifting on the possibility of brexit. losses,ter nine days of its longest using streak in a year, look at the reason. the relative strength index approached 3

and we have more details from india with our kritika. >> yes, tim cook has had a very busy day in india starting with a visit to the temple in mumbai at 5:00 a.m., and since then busy in meetings all day, and the meeting with the chairman with the top management of india's private sector bank that is at the largest private sector bank, and that is followed with lunch at her alliance chairman, and cook spent the afternoon in meetings with the consultants of india. and it was not just about the markets, because he met some around a round table to talk about the growth of to app ecosystem. the meeting is coming to a close at the bollywood actress's residence, and we understand that he is going to be launching the first tech center outside of the u.s., and it is going to be housing the new digital app center, and we will have all technical support services within india. and that is not the only investment, because the company said it will advance the startup scene and tens of thousands of workers are to design apps in this center. and the endeavors we believe will end in the national capita

but last quarter we grew 56% in india. overall macro worldwide, smart phone penetration is in the 40s. >> 40s, what point do they say, tim, 40 is 80 to these people. 40% means 80. they're looking at the developed world. no one uses your numbers which is odd. i see that it is finish asked it won't be your bailey wick. i knew he had to refute this. >> here's what i would say tom. i heard the same thing about china. and our revenues from china were larger than any other foreign company. in greater china, revenues were $50 to $80 billion. it turns out that people in every country in the world, there is a segment of buyer that twanlts best product and the best experience. that's what we're about providing. and we did fairly well in china. we've double fairly well. despite the short term turbulence, we're doing very well. >> short term turbulence. >> start again. >> it's huge. now we're putting energy into india as well. and there are other markets where i think people sitting here in this country look at it through just a lens

that has made india's budget deficits were good. inflation has come down and interest rates are under control. all macroeconomic factors look good. thanks to the god of oil. if the price of oil starts to climb back toward $100 we have a problem. there is a forecast of the strong monsoon coming. in a low interest rate scenario we're still looking at that. it looks far better today than it did last week. rishaad: let's have a look at what movies has been up to. concerns about emerging markets. >> moodys has downgraded its economic forecast for the united states. that this week first quarter and ultimately a slowdown in china has had a much bigger impact than anticipated. they are saying that a significant impact is really going to royal the financial markets with cutbacks on riskier assets. theyatings agency says only see to fade rate hikes. this is very different from what we are seeing in the fed funds futures market. the idea of the june rate hike is increasing from this 4% on the course of the dollar higher. moody's it's not just

the chinese still make major land claims against india for example. india is as big as texas. they should couple it with the fact that the chinese are all over the world making deals with corrupt dictators in order to fence and the resources necessary for an industrial society, cutting us off. we still have basically for those of us who are, i think the two child policy still maintains a mass slaughter of innocent children in the womb and if not bad if you don't accept that about abortion at least accept the fact that the violation and attack on women's rights and of course you still have the chinese brutally suppressing -- and engaged in the murder of prisoners in the sale of organs so we are talking about a monstrous pattern here and the islands should only be the icing on the cake of how alarming this should be. so i would hope that, and by the way during this whole time that i'm talking about these patterns that have been going on and we have been making a massive problem -- profit with our relationship with them economically. you can make the case that the specific trade

can india be china? knowltan ahmed: i don't about india becoming china, but i know that he has proved himself. he has a good track record. has manyhe initiatives. if you look at china and india, they have similar distinctions. india has a lot of catching up to china. area, those containers 10-14,000,000 containers. india has a problem of logistics. a wasteple, there was of 50 million tons of wheat a year. manus: i was excited about a country, as you talk about that. that seems to me like you're ready to do that. he sultan ahmed: we are already in india with six. manus: back with the go with the customers for the a lot of people talk to me about debt and a global perspective. people are worried about the global growth. give me your take, the slowest datah in two years was the we got on friday from the united states of america. oil prices under pressure, global issues at play, what concerns you the most? u.s. slowdown, price of oil, or politics? he sultan ahmed: winners or losers and anything. for example,

the apple ceo makes his first trip to india. the price, one billion sales in the next five years. ♪ a warm welcome to you. i am jonathan ferro here with lisa and david. an exclusive interview with erik schatzker about what we should doing with our money. we will preview the f1 see minutec minutes. >> and we have the earnings. jonathan: let's start with the equity board. s&p 500 futures negative not even a 10th of 1%. minors leading the losses. switch of the board. all eyes on crude. inching to the $50 mark. wti 48. this is what i am looking at in the fx market. a dollar on the front foot. switch the board and get to this. 14483. one pound, camp. the remaining 37% in the leave. the referendum is ahead on june 23. that is when we are now where you get one pool and you get the spike. lisa: it wasn't one single pole, there was building up to this. jonathan: a bit of momentum may be. david: now let's go around the world and check in with our bloomberg team for in-depth coverage of our top stories. mike is an anchor of bloomberg sur

coming up white india growth will defy the global slowdown. our exclusive interview with the country's finance minister. ♪ >> london on a tuesday morning. some might say it is miserable but i think it looks romantic. it's a 17 in frankfurt let's get to the bloomberg business flash. >> to cut a has ruled out anchor of c as a way of reducing its exposure to the liability from a storewide airbag recall. that's according to a person with knowledge of the restructuring process. they say the company is instead taking buyers to take a controlling stake and carry it through. the and visor will meet manufacturers and financial firms with the aim of finding a tutor by the third quarter. jag wire land rover -- jake you are land rover -- jaguar lan droove -- the company says it is cautiously optimistic about global growth. scandal mayir bank -- the tackett to air banks -- a airbag scandal has already -- reporting that deutsche bank has emerged as the focus of approve and to whether traders rigged auctions for u.s. government debt. the paper says that no

right now, india accounts for just 2% of iphone shipments. india iself has said like china was a decade ago, but there are already signs his trip a not have paid off. india has strict rules for foreign companies wanting to do business there. with aes have to comply rule it says 30% of the components of its devices must be bought in india before apple can open its own stores. right now, the apple supply chain is based mostly in china. apple wanted to be exempted from this rule and india does sometime give waivers but sources say they don't think apple qualifies. overturn it but if not, apple may need to find another way to crack the market. turning now to vietnam and president obama's historic tour. dave mcclure is still with us. they set up a fund to invest in local the enemies companies. what do you make of the president visit and highlighting entrepreneurship? guest: vietnam is a growing country and it's great to see president obama visiting countries where there is strong u.s. ties and helping to promote a culture of innovation. you have s

india relationship is important and growing. in particular on the defense side. and prime minister mody will be coming to washington in a couple of months to meet with president obama. from a strategic perspective, india is a potential counterweight toitia's growing influence and become vocal on issues like freedom of navigation in the south china sea and the indian ocean region. additionally central asia occupied critical geography. the china recognize this potential of central asia for what has been a cross roads on the doorstep of the great powers and a transit point for trade and culture between the east and the west and the chinese are aggressively seeking to expand their influence there. yet in your written testimony there is only one mention of india in the context of a u.s./japan/india trilateral ministerial and no mention of south and central asia at all. so my question is do they not fit with the administration's larger rebalance asia strategy and how can we be rebalancing to asia without a strategic framework that considers asia as a strategic hole. th

his latest stop is india. over the weekend he met with the prime minister modi discussing everything from manufacturing to retail in that country and laying out his plans for india's market. also gave this extensive interview to india nd tv where he said he could see lowering prices in that country. >> i recognize that prices are high. what we want to do things that lower that over time to the degree that we can and so we are looking at a number of different things. what we wouldn't do is lower our quality bar. >> of course, one of the bigger stories today might be the projections, reported projections for iphone 7 production as has a lot of the suppliers up today along with apple. >> yes, indeed. barron's did a write-up of it about 70 million phones where some had expected mid 60s production-wise. that maybe goes to show apple's confidence in maybe what it's got in the iphone 7 versus actual demand. what i think is interesting, there's a tension between local manufacturing and local invention versus american

how do they crack india? : i think the useful way to think about apple and market share, they only have 15% of the market. 30% of topline revenues. but they have about 80% or 90% of profits and industry. the value in the phones is not great. companies are selling phones. you have less than a full percentage point margin. apple is taking most of the prophet. they are content to get the profit even if they don't sell the most phones. the migration towards smartphones away from feature phones is happening in india right now. what they found in china was offering the best products will bring you a lot of consumers. .i'm sure the same thing will happen in india sherry: thank you for joining us this morning. cory johnson of the breakaway summit in new york. still ahead, forget red and water. a high-end restaurant in a u.k. prison. that's coming up next. ♪ ♪ mark: would you die in a high-security prison? this charity operates for restaurants in prisons across the u.k. that serve food to the paying customers as p

bbc news, india. jane: beautiful and very unexpected pictures there. now, jodie foster is one of hollywood's greats. the oscar-winning actress has been in the business most of her life, much in front of the camera but in recent years she's turned to directing. her fourth feature film, money monster, has just premieres -- premiered in canness. >> anybody seen ron? just point the camera my direction and we'll figure it out together. >> george clooney is an eegtistical financial journalist. julia roberts is his long-suffering prur who takes control when this happens. >> oh, jesus! what do you want me to do? jodie ts director, foster, it was a chance to explore cynicism in the worlds of finance and media. >> i think it's changed a lot withed -- the advent of technology and that facebook culture, social media culture where news is trying to compete with ratings and trying to entertain and i think that's really quite dangerous for news. >> it's lost its ability to answer the questions? >> yeah, and it's complicit. >> you are saying journalism is complicit an