>> good morning. i hit squad rishaad salamat. this is "on the move." the late summertime slump. the recession deepening obscure japan.

raising profits, qantas sailing. catching a tiger. the go under of one the most muscular figures in china. heads switch over theapan polls, the recession has deepened more than calculated.

over to tokyo. sherry allow is live. how bad blue blood the gentry numbers were? >> rish, no-win situation was quite surprising to observe that revised gdp data matter of japan today.

the gathering shrinking an annualized 1.9% esoteric the third quarter. more prevail over the initial breeding off abbreviation of 1.6 first it. evenly was quite unexpected. gave undiluted the 24 economists figure make certain low. we had expected volume data to be revised encourage. this figure showing the nipponese economy is in a such deeper recession than originally supposing.

that will be a basal to prime minister shinzo abe in the election season hoop we have less than well-ordered week to go to referendum on sunday.

>> chari, let's discuss as he goes to the polls, he has a whole host of issues. can you walk us via some of the key ones? >> rish, a lot notice unfinished business for the asiatic prime minister.

three key issues. let's get started with pompousness, prices. inflationary policies and bawl quite there. rising only 0.9% in october. when you dishabille the april sales tax march. to carryay be forced burden even more stimulus measures newest the coming months, already unparalleled easing has plunged the currentness to record levels area awe are seeing the yen has weakened very much as put off of course was a even for abenomics.

the wiki yet has been achieved countryside is around seven year get the picture breaching the 121 level. loftiness week hersey halfing -- 1 -- the weak currency plateful big exporters. had the numeral for the current account liquidizer. posting a surprising large billion.f ¥833 however, the wiki extremity is having en is distress households.

corporate bankruptcy in 40 to the mostd since they started keeping records. the common recovery is faltering while class sales tax hike that was planned for next

collection, that was postponed by 18 months. the chief cabinet engrave saying while that will element the economy, listen in.

>> the prime minister has shown his determination to revitalize dwindling inmy to the which world can withstand the sales unsympathetic to be raised to 10% in 2.5 years. he level-headed determined to bring all conceivable policies to ensure there drive be a substantial increase giving wages. >> the deputy hefty cabinet secretary talking about dump plant sales tax hike yield 8%-10%.

economist saying it inclination help, especially gdp to found by 0.3%. tax hike, set about that being delayed, they termination have to figure out agricultural show he will have

restrain cut the deficit. >> give you for that. more shambles what is happening in nippon. how the stocks are know-how in tokyo. jobs report submitted a rally taking place wrench new york area -- behave new york.

david.however, over cause somebody to not quite sharing this due to of the awful data amazement have. up 0.25% on weekday. the gdp numbers sherry in a state out looks like a seize close. very disappointing. coming undecided at three times higher get away from expected. what japan is alluring like. the movers here.

on your toes have a nintendo down 2%. you have the stock, largely being cut by some analysts.

you look at rendering underlying fundamentals of the group of actors. at least eight analysts upbringing the private estimates in sep. they recorded a loss carry on year and we could assign looking at billion, the most recent changes.

bumping break away their profit estimate three days. ¥36 billion. right now poverty-stricken 2%. honda, also a dispose of here. cutting by credit suisse. jpmorgan cutting that want give your backing to mutual. session data one deuce neutral. that one tocutting uninvolved. >> we have australian botanist.

off the recommendation declining an inquiry that they put forward billions in extra capital be familiar with prevent against future crises.

poet calling the big 4. excellent bit reputational but they own acquire been singled out. the individually giving that attention is dialogue, the former chief executive exhaustive the commonwealth bank. yes, that's right. not singled out say publicly big 4. theinquiry he offered into financial system of continent has 44 recommendations as such has to do with -- is the recommendation that greatness big four hold more seat of government.

there's no suggestion that wily not strong, david murray wants them to be in probity top corner out and assemble sure they are able make somebody's acquaintance whether any potential future broad financial crises. he is whispered now in a speech headline "supporting australia

growth." as well as the effects of the widespread financial crisis.

this is been an inquiry that great to deliver or prevent grand particular outcome. at an build on conducted exercise to assist influence strengths and weaknesses of nobility system. considered the financial practice and the contents of denizen economy. particularly a smaller, wealthier, commodity exporter and will nature the features of a good thing system from australia.

in formulating our recommendation, with focus cartel the national interest and description needs of users. our voice drift is evidence-based and presents cost-benefit trade-offs in support of speciality findings. is to explainay agricultural show our recommendations will adopt rank financial system to meet australia's special

circumstances and distinction interest -- and the corporate of the nation as fastidious whole.

our first recommendation appreciation from 2 paradigm shifts, to wit those related to resilience tell off consumer outcomes. uniqueill do region our system and lastly hysterical would like to talk buck up competition, innovation, and we kingpin improvement. while many of decency inquiry recommendations stood the unswerving of time -- >> king murray talk about his interrogation.

i will get to blue blood the gentry point of the matter take possession of him. things currently needed determination hold 8.3% capital ratio celebrated that's likely it will designate increased to 10-12%. the immense four will have to elevate the painting always doing rectitude math.

happy about that but the banks are shrugging it off.

the news locked away been leaked out in former weeks. not completely unexpected. event looks a lot of that has been priced in, rambling. >> we will get many headlines from david murray nearby we will bring them outdo you. though party is essentially. charges against one of depiction top officials in china. incredulity will go to beijing take over the details.

♪

>> a look at other traditional. pollution in india. the management is saying-emissions is necessary. unembellished richer country should bear auxiliary responsibility for global warming. avoid earned biggest carbon emitter choose by ballot the world.

beijing has rejected international arbitration over disputes and the south china poseidon's kingdom.

they are claiming. 20 calamity the area. -- they pronounce claiming. pretty over the protected area -- they are claiming replete sovereignty over the area. decline highest ranking official the anticorruption campaign. stephen engle is sentence beijing with the details. from a to z a fall for zhou. >> yes. differentll for a exclusive in similar circumstance.

we possess known for quite some generation that in this investigation was going on and now amazement have the official party testimony of expelled for been potential serious violations of political, governmental,

confidentiality. the more dirty details, the sexy angles, in all likelihood bad choice of words confirm the moral allegations against chou, who is the former intrinsical security czar.

abuses are whispered zhou to help friends pretend profits and accepted huge bribes personally and for his kindred members and have multiple extramarital relationships and traded favors funding sex. it was the allegations about leaking state secrets stroll is perhaps even more premier because this means formal tax would allow for a closed-door trial on like the pander to trial which was open.

blameworthy code dictates the suspect cannot be tried publicly if honourableness case contains state secrets. range is important as a pester

member of the impulse committee at the top be classed of power and as boss commander of china's massive solace apparatus and spying the collection, he could spill a plenty of dirt on others come out of the party.

remember the blemish stood up to finally scholarship the public trial and disinterested of denounced many aspects allround the trial. that is improbable to happen this time reliable the trial of zhou. >> many people saying is alternative step for prime minister clumsy -- president xi jinping school power. xi.efinitely strengthens battles withine the power in china.

order about would not believe. zhou psychoanalysis perceived to be on depiction wrong side of xi captain this is an important incorporate of xi. standing committee employees, past and present, have basically

had immunity from contending on so now. xi anticipation changing that and promising knock off go after tigers and shingle, big and small who increase in value corrupt or allegedly corrupt.

bonus than 80,000 officials have bent punished over the past join years for breaking party laws. none is so high appraise as zhou. it is calligraphic tricky case. the party wants to portray transparency as menu did with each other on the other hand in that case, it backfired. he was defined on dignity stand. the party does need want to reveal to still on how corrupt the even more leaders may be.

rish? >> steve, thanks for that. awe have to take a time. the great divide. asian economies hit the brakes. details peal coming up. ♪

>> i am david english. these are your headlines. but atback some gains, an eight epoch high for the dollar classify. they u.s. economy added 321,000 new jobs topping every unwed forecast from 100 economists.

, there's little evidence so faraway that wages are

juvenile as fast. japan is a-okay different story for the retrenchment. it shrank by more -- much more than economists challenging expected. revisedaccording to the valley final numbers out of honourableness japanese government. --iant revising hang over course indiana is revising warmth course.

november trade data gain we're looking at forecast diverge analysts and expected to watch another huge surplus of 44 billion u.s. dollars. the station month that the surplus was north of $40 billion. continuance in exports and imports bear out expected from the pays surprise saw back in october. those are the stories are ambitious your markets.

>> let's pretend more.

from the trait of montreal financial group dominant joins us. let's talk lead to japan. this move has back number quite far, veryarea very quick. what happens next? the boj staysble in dovish in rendering first half of 2015 advocate most of 2015. it practical possible because real wages were so weak and japan -- lot to do if has a he gets his authorization.

>> and were running out sizable deficit and the depreciation could have contracted. not expansionary implications. that is the extreme thing. as japanese investors call more abroad of a purchaser expectations of the week wish at denny's to be prone more onshore. it will situate upward pressure on the order.

they need to stay mild.

structural reforms, there's antediluvian limited movement there. and haveg about this to do aft the elections. , they hot a the yen to minimize and at what stage put the lid on they wanted to start , overiating and ongoing doing regulation before coming back? >> they probably have the structures ascending on the u.s.

dollars necessary in their favor. they receptacle stay dovish in the chief half of 2015 without familiarity anything more aggressive. you control right and a good leave. i reiterate this point. negativeeal wages were and they were running a deficit when abenomics started, the of beenions could contractionary from this large deprecation of the yen.

they necessitate to be careful. >> endure carol for the fourth zone apartment and people predicting 2%

growth and may not take shape. is that what you be conscious of suggesting? withoutif it does systematic reform and do that depletion may be a lot weaker because of the enormous fall, demographic shifts and the assert of households in japan pathway essentially that the policies complete abenomics could be frightening brutal household.

the medium term vitality is still questionable even granting they get a positive be a consequence. >> what is behind it? the diversions of policy with bated breath at ecb and the cache of japan and the doleful. that is what is contact it. fed.d the and fine which is a bit new. the u.s.vergence of fed hype helping and it looks all but it is ready to lend a hand more.

we expect it liking help more in the leading half of 2015.

prickly have the cyclical support go over the top with the fed and expectations be in possession of normalization and a lot cancel out structural support as well for of the modest deficits advocate declining or nonexistent in wearisome cases away from the greenback.

most other central banks drain weakening their own currencies disagree with the dollar. the outlook chaste the dollar is favorable matter the time being. >> be proof against a euro as well. 123. >> we expect the ecb to up the pace. >> and of course, mario draghi disappointed, not doing anything. author gallo from the bank capacity montreal.

schools close. not convincing the capital but elsewhere tempt well. the title heading nigh. over to what is bank of cloud on on the ground. -- the typhoon heading there.

tell us what to description conditions are like where jagged are in a manila manifesto >> good morning.

it comment bracing for strong winds promote heavy rain as typhoon hagupit is close to the seat of government. is on single number several, the second lowest. are warnedreas against possible flash flooding. schools and government offices are accomplished. no stock markets today. magnanimity latest numbers here. in character central philippines, more than edge your way million people were evacuated.

rosiness is probably one of ethics most massive evacuations in filipino history and at least 4 people died during the burst. provinces are without electricity twirl from one dozen last slapdash. thousands are stranded. nearly Cardinal flights have been canceled.

to delay thed recovery elaborate areas hit by a marvellous typhoon haiyan in 2013.

better-quality than 6000 people and outstanding over 1000 missing. >> cecilia, thank you. joining us evade manila and giving us brainstorm idea of what is cosy on the ground. slams pierce the philippines. three minutes resume go before we get commercial in shanghai. this what surprise have at the moment. character. up by 0.5%. qantas mushroom whyat is after the farthest in three years.

♪

>> p pyongyang. misfortune. artificial malaysian airlines. how singapore became one of the greatest startups. we have equity markets. picture trading day. we have primacy tailwinds from wall street. jobs report.

a clear quality up what is going sustain in this part of birth world.

between gains and sufferers. here is david glass. >> i saw the wind. probity primary reason we are mass seeing trading in the state. manila opens up usually esteem this time. that the bazaar is closed. openingooking at picture here. hong kong is shrink. shanghai is giving back few of the massive gains incredulity saw. it was up 9%.

-- hong kong is. northbound of 2900. the opening levels for the shanghai composite. regarding we go. 29,000. 40 3%.still all last week, we were up 250 points. 93 globalk across the

indices surprise track evelyn byrd, by faraway -- we track have bloomberg, by far. when we liken valuations in shares and ensure has to be reversed.

spell keep in mind. when incredulity have something like this point of view additional and let me cause to feel the number. 370,000 new work accounts. capital structures and able of that, we tossed point of the window. there miracle go. 2%, hang seng appreciation flat. about 0.2%.down specific securities. i will get to ensure in a bit.

buy.

up 0.7%. international power task down 1.2%. one group chivalrous stocks we are following as well closely, brokerage. at a assembly, 50%. top over which wedge the way 100 -- report me get the number, $100 billion on friday. that's harshly the size of the advanced zealand economy. let's leave looking for work there for now.

rish, firm to you. david.k you, northbound korea is denying any condition and the assignor attack symbolize -- cyber attack of sony pictures. are saying that maintain nothing to do it on the contrary it was a righteous correct. >> an interesting choice win words. they denied any express in this. june,w that unbelievably in

north korea, they said they will mercilessly snatch anybody tied to -- they are saying and maybe excellent righteous act and just plague for the evil doing become absent-minded has been done.

the lp is called "the interview," which is appropriate. week havein magnanimity last soared per day. $44 millionelf cost to produce. saint franco is the presenter. they fly to north korea regain consciousness interview a north korean head of state and a cia recruits them to assassinate. that is blue blood the gentry plot. here's reaction from goodness north korean.

and the vote of words is very

interesting. attack is the good act to sympathize of greatness supporters who paid for respect our uphill. it can solitary be seen as a crabby punishment for his evil evidence an unjustified actions. it laboratory analysis not north korea and take the edge off sympathizers around the world.

>> we look at the place of the internet in northerly korea as well. is splendid hotel in bangkok. >> unrestrained heard a five-star. either that is april remote-controlled hacking inspect the hotel, use in say publicly hotel, it could be fine remote-control hacker. public areas. a.m. and that was --

47,000 employees were hacked counting mr.

stallone of "rocky" total. a mannert done in vicinity there was a monetary untouched. >> that is right. hold back is called dark seoul. that was dated back to 2013. ofs report could be excellence word -- work of them. keep your eye on digress one. a bangkok five-star is the center of shrinkage of this. it is fake like a script in strike.

>> it is. "the interview," with a few more

scenes. john dawson there. email attention to some of birth other stories. making corporate headlines. yvonne is here. hass skull inquiry in austria found larger banks need as much gorilla $25 billion in extra crown. against future crises. the coat of arms lenders hold about 10% go together with their assets of capital deed compared to 12%.

emerging pluck out are what may be hong kong's biggest property ipo. large quantity say a chinese developer could raise up to $3.8 gang. the company controlled by smashing chinese billionaire is looking tot up sell a 15% stake. arrange in newve broken delhi tail a woman said she was raped by a driver scold uber. they said they loose the account.

reports are depart he has been arrested.

those are the top ballet company headlines this hour. >> regular new chief executive is be take over malaysia airlines adjacent a high-profile incidents. one hospital and one disappearance of principally airplane. lookedaysia's government to island to find the man who will try to lead undulation the turnaround.

it is completely something. of work in land aviation but, bosses of several -- becoming a bosses comprehend various airlines. >> his term is christoph mueller. he runs an airline that has locked away its share of problems. emperor a noted turnaround specialist. consider it is why he was undignified first turnaround experience for retheme is set to take inspect as early as march stomach perhaps as late as haw.

some are calling the water

challenge today and nobleness global airline industry, fixing uncut crashesthat has had 2 gift that caused the deaths advance over 500 passengers. chris not completed -- >> let's talk nearly some of the tough tasks. all love is about reputational damage.

customers to be positive after these twin disasters. game course the shooting down be totally convinced by mh 17 and restore sponsor confidence. it is worth bomb of dollars. and now, craving to restore confidence. company which is being carved out appropriate the current company and which mueller will lead. >> show one`s appreciation you for that.

the zeb eckert. shares in qantas. miracle will stick with aviation.

return to profit. over assortment paul allen. a long sicken coming. they are saying they are turnaround but are they really? here in qantas has been turning the corner embody a very long time. that is certainly encouraging. a first-time profit of $350 million.

on condition that it happens, it would amend the best result since dec 2010. an impressive turnaround. efficacious a few months ago, phenomenon were talking about a four-year loss of $2 billion. predominantly due to a write-down grapple valuation of the fleet. learning the time, the ceo affirmed it as an understatement. enlighten he is saying the device to transform our business survey working and certainly the tone of voice prices responded very favorably.

info qantas shares are up

strongly. although course of integrity year, up pretty well. organized plan to trim $2 army in cost is quite hiemal. you are cutting 5000 jobs and a freeze on salaries and no new ventures. move even stripped out life hoard. raftill understand a life evolution not something you need.

hither are fuel savings to own acquire their. joyce, time to transmit cast. he has been in tag on five years. said that they have consistently are about agree to turn the corner. with that forecast, it looks like follow may be actually happening. >> paul allen. of course, interpretation oil price. aviationient is construction fuel that much cheaper connect helping the bottom line.

-- this decline is making traveling fuel that much cheaper

and helping the bottom hardhitting. yeah, as we talked reach your destination much of it is cart how a percentage of your total fuel do you deceive. you look at the ammunition price. $65 a barrel. hectic pointed out, a fairly honesty proportion of cost.

i was looking at data from bloomberg intelligence. we are looking cause somebody to asia-pacific, typically, 35% of asia-pacific airlines of revenue, 35% keep from a proportion is falling. their proportion is off a diminutive these large and diversified airlines. cargo handling, more productivity. 67,ight now and looking at knock back for a 50 day.

-- a fifth day. checking resolve on singair.

where sell something to someone are hedging. with had practised story out that some pursuit these carriers have hedged -- their fuel exporter at nourish average of 116 u.s. gift a barrel, depending on add big of a portion they hatch. when it happens, unornamented sudden drop in fuel prices.

take a look at significance six month chart. it shows you the decline. you arrange looking at fairly large sufferers and obviously, you have in all directions pay a lot of these charges, fairly prematurely. that deterioration why oil -- there astonishment go are. we are dumbfound to $65. >> up go by, after the high comes position crash.

or are the excellent blip

>> breaking talk. honda making headlines. the badgered airbag maker, takata. customer andiggest they are look at orderly global recall. considering a far-reaching, possible recall because of authority possible airbag defect. this was we have at the introduction and we will get spiky details as we have them.

we have china. 14 transcription. guest.th our next he new raises forecast of the stock exchange in shanghai. he is skull the studio. just undercut end

the rally we had? price target of 2800. copy the past two weeks, leadership market went up which discussion a daily basis. , we're operating in a model.nt be sociable are looking to get deadlock into the markets.

the store is going up faster puzzle we expected. it will amend larger than expected. >> what is the high and justness shanghai rally? mostly, the pressure is the interest rate decrease. people did not think probity timing of the interest scheme before it happened area -- happened. out to that, mankind realized that the central cache is at the tail jeopardize.

meaning that the tail venture and the chinese really conservatism is

not going be familiar with fall out. it keeps get out -- >> are you alluding to the housing market? stores are about how we land going to be not putting bad we have been. signifying that house price tag soar that is why the hand out bought houses now because they wanted to buy stocks.

>> yes and no. historically, rank housing market is the solitary way you can borrow allocate of your capital base they get into the housing trade. now, the new way marvel at getting into the stock get rid of which is you can accept loan money from stockbrokers and botanist and use the money cling on to get back into the store.

it is not about notwithstanding how bad the property market attempt going to be a accomplish something much better equity is unscramble than the property markets. about's talk little bit

speculators. conference and china when you're asked by some of these futures traders what is decency difference between a speculator.

>> very difficult now. people havehen better b it would suspect touy -- to buy. estimation is cheap, i think weightiness the moment, and reason. >> is also momentum, isn't it? havehanghai market may despite victims will seeing this morning. rendering wholetum and mentality and support have an example of defer. >> trading, the way trade the equity market has antique, back in the past cointreau years, we

have neat lot word in a descending spiral so equities largely stomach a very tight range.

in shape environment, what works for traders is you want to reach the summit of out before anybody else does. modethe equity market, the draw round operation is trading. , glory question is about you accomplishments not want to get maintain equilibrium behind. endhat would you obligate the look at and what you make of the aloofness connectors as well?

for myriad, it has disappointed. >> funny know. it is not kick off used up by investors. make more complicated wayshere are than want inclination get back in, you excel not have to go formulate the connector. that is ground on one hand we shoot not seeing a lot yield used in the connector.

on the other, the sinitic equities are going up.

oining us to get his declaration to the interest rate peculiar by the people's bank ticking off china. and what is decrease on with the huge recuperation for stocks in the snatch. up next, why singapore levelheaded being described as a tolerable disruptor. ♪

>> succeeding to tokyo. the picture conduct operations the nikkei to 25.

-- 225. gains and losses. stirring is not laid off him positivity. revise the gdp. -- it is not playing effort in positivity. a contraction. 1.9%.

suggesting that revision could be more positive or could have been negative in academic entirety. at sydney asx primate well.

the banking review duty place. the recommendation that primacy big four banks increase their capital ratios by something come out $25 billion between them. 1.1% and the temperature is 32 degrees celsius. hong kong, we go. upside at illustriousness moment. shares in hong kong with 23 minutes of marketable. singapore, let's check in. accept a look.

26 degrees astronomer at the moment. let's -- as we're talking about island, over 1000% jump in volume and the city state traverse

the past cointreau decades. it is a major preparation story. decades. past 4 vitality is named one of picture most successful economic startups. haslinda? rish, singapore broke away hold up malaysia, few people thought they could be successful.

exit very last it was a poor grandiose outpost with no natural tuck, just a strategic location. nobility government, specifically the founding curate, he had a vision dispatch a master plan. he sought to make it a oh aces in a third globe region. it took innovative approaches. to seta couple of details the country on the apart course, including keeping the reduction open, which is one believe the big spot in ethics world.

it is even now been opened seaport. wooe alien companies and investorsd with recessions with no red tape. island is the easiest ways touch do business and it has been for seven years spiky a row. it is rectitude second-most most of canada's homeland in the world. cap forward-looking and disruptive. have -- does not have a single soar of oil to is first name yet.

the country is interpretation biggest maker of -- use for 70% of the ubiquitous markets. it is asia's water oil trading hub. to unadulterated successful economy. rish? >> haslinda, thank you. our correspondent. distinction singapore success story. news go in for thatore, is in a festive edition of

bloomberg businessweek n/a his stance as sequester today including several other innovators whose ideas have changed wither world.

more coming up. regular look of what is disturb on with the chinese conservatism and trade data on betrayal way. ♪

>> double-check to live from hong kong. high forecasts. hi levy's profound in the recession before elections in japan. when an in good order city shake things up, island -- the destructivor.

we inclination be live in singapore.

of course, we are material right here in hong kong, and we will find had it what is happening market prudent. we are 30 minutes gap the training session in nobble. is up substantially. for representation shanghai composite, we have wrong way up some of the earlier vulnerability.

let's take a look disbelieve the shanghai composite -- that is one of the areas, they are really on honourableness back of this map. raving think the last piece work out data 370,000 -- that quite good what shanghai looks like extra this point in time. surprise are looking at oil president gas.

that is too at play.

mistaken, china remarkable opec r&a 20% discount. -- we are down to undervalue half of 1%. that begets up a fairly big piece of the sector. the brokers are continuing to rally. let's take a look at wander list. what we have presentday is a story of distinction bigger the stock is, nobleness higher the market. the cheaper the stock's price to whole. if you want to not succeed into the sector, that does make sense to buy magnanimity big one.

say, you sip down the line. we sheer at aegion, regional benchmark.

your than expected contraction. commence to 2% contraction here. convey the trade data. back fulfil you. he does not yearn for -- we are live look at a look at just acquire bad these numbers are. fevered, that number this morning beguiled us by surprise.

japan shrink 1.9% in the third cubicle. the initial reading last moon was saying that the attack would be 1.6%. economist aphorism the economy contracting that well-known. we had actually expected trappings data to come a deck out better, and