Earlier with the Securities Regulator seems to be fading as we head into the g20 meeting in shanghai this week. The sox are down one third 1 . We are seeing a rally when it comes to materials such as iron ore. Really raising the sentiment on mining. Dragged down by telecom and utilities at the australian stocks today. We are starting things off in the grain. Down by one third of 1 . We just heard from chris would talking about how asian stocks are a long term by opportunity. He still thinks that fundamentally they are cheap. But some analysts are saying there really isnt much of a Market Trends that we have seen recently at the start of this year. Today. Picture here lets take a look at the oil rebound. The iron ore rebound. The australian dollar. Youve seen these figures from about midjanuary. It is interesting because when you take a look at the gains is awe have seen there sign that we could see more gains to con. That resistance level of the 200 Day Moving Average of 72. 75. The prospect that it may extend its gains even further. Jpmorgan is saying that. Getting some momentum here on a possible rally. Looking at 72. 45. Everybodys talking about the pounds. Seeing a little bit of the lift today. 141. 41 right now down 4 year to date. Thes versus cameron on british issue. Could bring the euro down with it. If the United Kingdom exits the European Union, that could be a whole new question about the european project. Rishaad a surprisingly rising number in sydney. The worlds biggest Mining Company. Dividend. Ts and they are rearranging some of the top brands there. A huge loss. Juliet lets start with the headline number. The Worlds Largest mining hugeny posting a firsthalf loss. This compares to a 4. 3 billion profit in the same. Last year. A fives were expecting . 5 billion loss. It has really been hurt by falling Commodity Prices. Particularly the big slump in iron ore. And the mining disaster in brazil. A great deal of volatility. This bigger than expected firsthalf loss has really prompted a larger than expected cut to the firsthalf dividend. This is in fact the first time that dividends have been cut for bhp since the merger in 2001. That dividend cut was to . 16 from . 62. It to bewere expecting cut by half but the cut was more than that. It is a bluechip stock is owned by many socalled modern investors in australia that are searching for a highyield. Bhps progressive dividend policy that it must increase every firsthalf again at the inl year was unsustainable the current climate. In fact the last time before that merger in 2001 that the dividend was slashed was in 1998 when bhp was a standalone company. Now of course this cut in the devon and really is part of bhps plan to turn the company around. It is continued pressure on iron ore prices. The the the iron ore unit jimmy wilson is going to depart next month. Were also seeing the head of the Petroleum Division tim kane live at the end of the next month. Mike henry will take over that iron or division. Combining that with the copper and nickel assets. And steve hauser will be appointed to succeed in the Petroleum Division. At least bhp appears to be doing all it can do to appease its shareholders after the prices slumped 43 over the past 12 months. Rishaad lets have a look at what is going on on the opposite. Were talking qantas here. This is kind of weird. Despite underlying firsthalf profit more than doubling to a record 666 million. Lets go to qantas headquarters in sydney. How does this stack up next to the thinking here paul and why we have this big fall when we have record profits coming through. Paul im glad youre feeling confused about it because im finding it counterintuitive as well. Even as i left qantas number of qantas staff were also expressing skepticism about what is happening with the share price. The numbers are pretty good. The firsthalf underlying profit of 921 million actually beat analyst expectations. The net profit of 668 million was good. There is no interim dividend but that is nothing new. There was some good news about the shareholders for the Ceo Alan Joyce announcing there will be a half million Share Buyback plan and heres what had say about that. Because of the cumulative tax losses that we had over the past two years we dont have a huge amount of credits left to pay a frank dividend which is very important for the australian shareholders. So after having a look at the best way of returning the surplus cash that we have to the shareholders, we and the board felt that buyback was the most efficient way to do that. Until the franking credits built up again in the future. And then that could be the more appropriate way. Course we have to mention the oil price here. We coil has really helps qantas a lot. Their fuel cost has dropped to 3. 4 billion from 3. 6 billion. That is partially due to the weak australian dollar. The management is really keen to highlight the Good Management over the past 12 months. Pointing out that this 2 billion Transaction Program and all of costcutting went with it is now really starting to pay off. Just couple of years ago we were talking about alan joyce his job might be on the line. Thatuld be bold to think now. He says he wants to remain ceo for as long as the board in the shareholders will have him. Rishaad thank you. Companyve a look at one now that has seen its share price down by about 60 in the past year. And seen credit downgraded as well. Lets have a look at that company and indeed some of the other stories making headlines. Youll groups warning investors that will post a net loss for the Fourth Quarter and for the full year. After 1. 2 billion dollars in extra charges stemming from commodity price declines and the sale of its Noble Agriculture Limited unit. Double has come under fire the past year shares are down 65 . At it tumbled as the chief to attacksfficer from short sellers. There was an Anonymous Group called Iceberg Research that set accounts were misleading. Noble shares are falling today and active trading. Deutsche banc is planning to cut jobs. It is europes Biggest Investment Bank by revenue. Cuts will be focused on london and new york. The fixed income division. According to a Deutsche Bank spokesman. The trading empire that was built by his predecessor. It calls for axing 9000 jobs across the firm by 2018 to help reverse a share slump that has made Deutsche Bahn the lowest valued global lender. Early indications on chinas economy for february shows a slowdown there. Hasnt yet hit bottom. Private cages of manufacturing and services felt a new lows. Business confidence slipped and small and mediumsize businesses deteriorated. The g20 finance chief and central bankers prepare to meet later this week in early Economic Data points suggest continued stimulus is necessary in china. The staterun news agency is that with its own assessment saying that in a commentary the 2015 slowdown was not as bad as someone make it out to be. Rishaad later, the party may be ending for indian affairs. He struggles to pay off the debt. Weekly from mumbai to the details. Singapore carpooling. That differentiates itself from the likes of labor. Uber. Rishaad about to getuber some more competition. Doing so in hong kong. The companys chief executive joins us here. It is already up and running in singapore. You are kicking thing off in the , Second Quarter here in hong kong. Why . We have got uber and others. What difference can you make. What is the difference between you and those other guys . We are not a taxi company. Our drivers are everyday drivers. In singapore. Give you somenny numbers. 30,000 or so taxis in singapore. N that is the key to increasing the supply in singapore in terms of the numbers. For our business we are targeting the 600,000 private car drivers. That is an untapped supply. Rishaad i have a little app that goes off saying someone wants a lift. How do i make money from that . In singapore you can actually defray the cost of the trip. You can profit from the carpool. You can defray the costs. It allows to trips per day. Our apple actually match you with a rider or a driver is going the same way as you are. You can split the cost of the trip. You can also make a friend and most importantly a safe environment. Rishaad the social good here. That is what youre trying to do. But that brings us onto another issue. You have insurance applications. Right now there is no application on insurance. What youre actually doing is to give someone a lift along the way not for hire or reward. Essentially it is just like giving a friend a ride. The key thing is that this is a for profit model. Is no different than getting your colleagues a lift at the end of the day. Rishaad up someone picking you dont know. It could be a mass murderer serial killer. Safety is a very very of ournt component platform. You are sharing a ride. Trust is a very important factor. We do verification of our drivers in our network. And check the driver licenses and insurance and other documents. The writers can also submit that if they wish to. Verification of profiles is one way to increase safety. The second way is we have a robust review system. At the end of every trip the rider and the driver will review each other. It is a sort of Community Policing mechanism. And lastly, we have bought a thirdparty general liability coverage for sexual assault. Trying to increase safety on our platform. Rishaad you are looking at hong kong. Where next . We are targeting similar countries with similar regulations. The commonwealth countries. Well announce that in due time. Rishaad what sort of cash are we sitting on and what are your financial needs . Right now we have 2 million. We are in negotiation to race the next round of funding. We have gotten a lot of traction in singapore with the short span of time. 50 month on month for the last five months. Very good traction. Investors are really interested in this company. I would say that we are the realtime mobile application in this particular region. Rishaad unicorn yet. Uite a what are we talking about in terms of valuation . Right now about 10 million. Rishaad how long do you go before you look at an exit strategy and what would your preferred exit strategy be . To focus to continue improve our service and make sure we continue to have as many people as possible on our platform to give them a choice essentially an alternative to move around the city. In a most social way. A more Sustainable Way as well. Rishaad how supportive have the authorities been in singapore . The authorities have been very very supportive of our push. Singapore is proving toward a car like city. I think singapore has been in the forefront in terms of regulation and in terms of emphasis on the sustainable aspects of the daily commute. Rishaad is a city with very expensive cars. Need. E licenses you a big part of the sharing economy. The great thing is we give people access without actually needing to own a car. To carpooling. Rishaad thank you so much for being here, terrance. Getting into the carpooling world. Now to the stories making headlines around the world. The United States and russia say partial ceasefire in syria will start at midnight on saturday. In a joint statement the two power said that arms group do want to take part have to say so by friday. The Islamic State and other eu and designated terrorist groups are excluded and attacks against them will continue. Washington calls in a moment of promise. President putin says it could radically change the syrian crisis. Than 1000 migrants arrived on the greek island of less post on monday. Many of them fleeing the war in syria. More than 100 migrants have landed on greek islands and nearby turkey so far this year. Despite the greece and macedonia border being closed. A new study says shutting the border would cost the eu economy more than 1. 5 trillion over the next decade. Officials in new delhi same could be several days before Running Water is restored to millions of people. Troops about taking control of the canal that provides safety percent of the area with water. It was sabotaged by protests by members of the jack community. They have been demanding right of access to government jobs and places in college. Than 150 bureaus around the world. This is bloomberg news. Rishaad jakartas troubles keep getting bigger. Expanding its investigation into faulty airbags. We had the news. Rishaad the biggest Auto Industry recall in the u. S. Is about to get even bigger. U. S. Regulars are looking into all the contact places that use the troubles propellant. This could mean tens of millions of more recalls for the airbags. We will show you what this is all about. Quacks this propellant is the safety of Ammonium Nitrate. There is kinds of propellants. The one that is in question right now is the Ammonium Nitrate. It has already expressed concern this this the safety of it propellant in these insulators that ruptured and sprayed shards of metal and plastic. Now regulators are coming out and saying that they will look into all of these propellants that are using these kind of devices. Because of the Consent Order with the company back in takataer with th they can do testing based on field data. Than 28 million. The transportation secretary in the United States is now calling for vigilance even among automakers that have yet to recall vehicles using these airbags. The company meanwhile is saying it is cooperating fully with regulators and customers and they continued to test their inflator is built with these air bag kits and raising consumer awareness. Rishaad how many more cars could be recalled . It could be as many as 70 million. More than that. 70 million to 90 million cars could be recalled. That is globally not just the United States. Takata talking about cap using these kinds of Ammonium Nitrate propellants. In the states there could be as many as a hundred 20 million insulators being used to that contain this Ammonium Nitrate appellant. U. S. Regulars could be recalling as many as 90 million cars. Rishaad lets look at what is been going on in indonesia. The president has been saying he lowerfident about lowing borrowing costs from the chinese Investment Bank structure. Having him reaching 7 growth target. Access to the president. He joined him as he flew from jakarta for a tour of sumatra. They never imagined they would have a chance to see the president in person. What mayhem. Everybody is trying to shake his hand. Nothing has changed. How many hands you think you should today . Someone handed you a letter. You get those letters often . President what can i do for the people . Rishaad dont miss her exclusive interview with the president. Mission is on tomorrow at 1 00 in the afternoon. Only on bloomberg news. Up next, trying to find the bottom. Looking at the chinese Economic Data. One of these numbers really trying to show us about the growth trend in asia . When we return in a couple of minutes. Rishaad after a promising start the Global Equity rally has stumbled today. Japan and china and south korea all trending lower as convictions rain from the market. Japanese shares down by a rising tide and oil. Arising in sydney after the first loss of five . 7 billion and underlying profits were down 92 compared to one year ago. The Worlds LargestMining Company will cut its dividend payout for the first time in 15 years. Now . 16 per share it was . 62 per share. Notable as posted a net loss for the Fourth Quarter and also for the full year. Singapore listed Commodity Traders and ordinary rough 2015. The prices plunged culminating in its debt rating being cut to junk. It remains low for an extended. A bit of relief for investors over in turkey. Look ats having a monetary policy. Seeing were the markets lose some steam in the last two minutes. As we head into the lunch break. We are seeing this is mostly because of the yen which is up slightly today which is offsetting the oil rally that we have seen. Down 7 10omposite now of 1 . We are extending some losses that weve seen. Hang seng is also down. 200 is off. One third of 1 . Seeing a bit of a bump today. Other factors are at work there. Waiting on the index. A pretty mixed picture today in the markets. Some of the movers here. We are seeing the Research Source related stocks in japan leading the gains on the index all day today. An oil refinery is up 1. 8 . Yvonne steele is up 4. 7 . Nippon steel is up 4. 7 this could actually be a red flag for japans steel makers. That may trigger a surge in defaults and risk in some of those mining companies. Is up 3. 36 . Goldman sachs actually raising it to a buy now. Saying that the lender of overseas earnings and funding costs as well as the dividend the sharess attractive. So we are seeing shares at 300 and ¥69 per share. We are seeing banks and industrial stocks with heavy machinery. Komatsu also rising today. In japan. Casino stocks today all rising. But how is close to 2 . After the secretary of economy and finance lionel young said a government statement the 2016 gaming revenue is going to be about 200 billion. 13 drop from 2015. Bout 25 he says that is reasonable. Stocks up today. Rishaad out more on bhp billiton. Slashing its dividend and rearranging the deck chairs to maintain its targeted Credit Rating. What are people saying about this .