To portray himself as savior. Maker hoping to power its self. Follow me rishaadtv, include trendingbusiness. Just starting off the trading session. Were looking at what is happening so far. The bulls taking a backstop, arent they . Juliette the regional index hit a high during thursdays trade, but merrier drug he the ecb has disappointed, u. S. Stocks easing thisrecord highs to in region, weakness in the early session. Forapore opening lower, tens of 1 , a switch outing kuala lumpur, and taiwan flat. Significant downward pressure today, but easing from a sixweek high. 12 below the 30 day moving average. Bank comments weighing on Investor Sentiment even though governor kuroda made calls about no helicopter money before the brexit vote. , downch out in the kospi a 10th of 1 . Weakness and commodity players weighing on the asx 200, particularly energy players. There is upside in gold stocks. A looks like there has then flight to safety assets during the overnight session. I want to show you the hang seng index, officially entering bull market territory wednesday. If you look at where it was to where it is now, up 20 from those lows in january. Encouraging for the hong kong market. Having a look at the japanese week formeeting next the boj. Stronger,ent, yen 105. 70. Rishaad donald trump expected to speak in cleveland in the next hour. He will be formally accepting the nomination as his alreadys president ial candidate. We are live in ohio. Tell us more about the focus out of donald trump today . What is it all expected to be . There will be a continued crime, fearsafety, americans have about their own continuation of fortio training himself as the law and order candidate. Also, saying his desire for trade barriers and to protect american industry is one thing are should lead people who dissatisfied with Hillary Clinton to come his way. We have several business figures expected to speak on Donald Trumps behalf. What do we know about that . Will be one of the two people in the lead up to the introduction. And more interesting speech will come from peter thiel, tech investor, libertarian, advocate, who will talk about being openly gay and make a blunt criticism of the republican party. Fakepect him to talk about ultra wars, gay rights, abortion, contraception are a distraction of what americans should be talking about in terms of americas economic decline. Rishaad this is a big week of ups and downs, what will the report card look like . Consider this week a success . Publicly, they will say that. Hiccupsve seen more this week for the republicans putting on a convention that any time in modern memory than any time in modern memory. There is the speech scandal, plagiarism, fallout, obvously a dramatic moment is ted cruz refusing to endorse the nominee. Is a burden on donald trump to tell a story about why he is the leader of the republican party. If you go back a few months and said donald trump got there a nominating convention without a challenge to his nomination, without any real demonstrations inside or out side the arena, you might day this is something of a success for someone so new to politics and the republican party. Rishaad thank you a lot for that. We will have more on this story next 23 hours. Donald Trumps Convention speech live. Tweet us your thoughts and use rishaadtv, include trendingbusiness. Singapore not done within the with the investigations into the 1mdb fund. It is a car crash involving scandal, isnt it . Like the way you describe it. Yes, still unraveling. Things are putting added pressure on 1mdb, fresh evidence back to back. The u. S. Justice department, ubs, dbs, standard chartered, and falcon private bank, and now says it is not done yet. Other Financial Institutions are being probed. We will get those names soon enough. Singapore Central Bank Says some serious lapses were found as there were undue delays in detecting and reporting suspicious transactions. Themonths ago, it revoked license of dsi because of reaches of Money Laundering rules. Still finding out more information. Rishaad this gets more and more complicated every day. This is the first time that singapore has revealed some details. What are they saying . A well, they are saying it is complex web of money transfers. It is an extensive layering of transactions discussing the nature of the funds that disguising the nature of the funds, multiple entities operating in multiple jurisdictions, Many International banks. That money was , estimatedt of 1mdb at 3. 5 billion. A billion dollars alone laundered to the u. S. Banking system. Right, well it is even true as singapore investigates 1mdb, i dont think they ever referred to this fund by name. You are right. It is ably shows that sensitive issue for bilateral ties as both countries are close neighbors. And investigations the started more than a year ago. This is the biggest Money Laundering investigation ever done in singapore. The central bank has already seized 170 5 million in assets linked to 1mdb, various bank accounts, dealings and property, and that includes those that belong to jho low and his immediate family. We await the details and names. Rishaad thank you very much. Getting you back to that cleveland and the Republican National convention. Reince priebus is the chairman of the Republican National council, as senior republican. Speech as well as we wait for the big one a little later, donald trump saying he can make America Great again and heal a damaged nation. That is what we are expecting as well. [applause] all know that he has brought millions of new voters into our party because he is listening to americans who are anxious about a country which has lost its way. Donald trump ones to bring jobs back from overseas and hold companies who want to send them abroad accountable. He is finally going to stop illegal immigration and make sure our government puts american citizens first. [applause] families, working families are the lifeblood of our country, and we cant thrive as a nation and less they are thriving. A lot of them have not seen a bigger paycheck in the very long time. Donald trump ones to make sure you can pay the mortgage, put gas in the car, and by new clothing for the first day of school. Toald trump is committing hitting terrace hard and making the safety of every man, woman, and child in america his number one priority. [applause] no more negotiating with terrorists. Us down, we to take are going to take them down. [applause] the world of business, looking at what is going on when it comes to this expected bit of takeover news in Papua New Guinea. Haidi thats right. 43on mobil will buy interoil . 6 billion. This will see discoveries in Papua New Guinea added. 45 toill pay between 72 a share, and a 50 million rake up fee on behalf of interoil. With the purchase, exxon looks to expand its present where demand is set to grow for another 25 years. Of 3. 6 billion could be its biggest acquisition since 2010. T, roger ailes is replaced by Rupert Murdoch. Is after he was sued for alleged sexual harassment. Will becomech chairman and acting ceo of the news channel. Roger ailes will act as his advisor. Taken a toll on investor nerves, sending shares down 3 . The companys cable business accounted for as much as half of total revenue last year. Also tumbling in extended trading, starbucks after earnings missed estimates. Rose 7. 3 ter revenue a slowdownear, but in samestore sales in america. Starbucks has been adding new locations and new menu items, but still struggling to get u. S. Consumers to spend. A bright asia provided spot for sales revenue, 18 on year. Howard schultz said china could become a bigger market than the u. S. In the long term. Howardearnings call, schultz spoke about global uncertainty affecting results. He cited factors ranging from uncertainty over the u. S. Election, u. S. Race relations, as well as terrorism threats. , andad still ahead lusive interview with doj p a , governorpter debate kuroda says there is no need, but what do investors think . That is knacks. Breaking news, the game taking people by storm, created go. Intendo, pokemon it is available for download in japan on the google place store. The share price for nintendo on the way up, 9 , and absolute roller coaster, 3. 7 i should say there. I beg your pardon. The latest flash headlines, jp morgan close to settling an inquiry into hiring practices in asia. The bank may pay 200 million to on whetherstigation it hard influential chinese decisionmakers to influence business. Say they later widen their inquiry to other wall street entities. General motors up in new york, raising his 2016 guidance after posting record secondquarter earnings of 2. 9 billion. The result was driven by record north American Income and a return to profit in europe. China stable at 500 million. Record sales in china, so we continued to see a lot of traction, a lot of Strong Performance from viewer can cap lack. Rishaad looking at the yen, rejectinging sharply, the idea of helicopter money. It was broadcast on thursday on withadio, three options quantitative and qualitative easing, plus negative Interest Rates. He said current policies could be expanded and were no significant limitations to monetary stimulus. The damp it feelings of stimulus and mixed earnings in the u. S. Helping a pullback in equities. We did have record highs this week. Asian equities down as well as a consequence. Great to see you. Lets start off with governor kuroda. This wasnt an interview done in midjune, broadcast now, but lets not forget we had brexit after that. Did was not that he considering negative Interest Rates days before he announced stock do we put in that story . Isi think the answer to that not much. Having said that, governor kuroda has a track record of wrong footing markets over the last 12 months. As you pointed out, saying hes not going to do things when he does these things and vice versa, so as to how much reliability one cents by these comments come as i say, not much. The nikkei today news two days ago, ¥120 trillion worth the stimulus, the other ¥130 trillion of stimulus. The point being, what kind of service are we talking about . If you keep adding Monetary Policy and stimulating monetary wise, it has not worked. They need to do more than that, dont they . Correct. S one of the things we are anticipating i think is now that we have the upper house elections out of the way it starts to look as though the government is perhaps going to be able to spend more time on concentrating on its economic reform agenda, which is something that has been put on the back burner for the last 12 months as the government has been reliant on the central bank. This time around, maybe we will see a change in policy emphasis, and i think that would be broadly welcome, but we do need to see a little bit more grownup policymaking coming through from the politicians as opposed to continually be reliant on the central bank. So many we have had events this year so far. It feels like it has been going on for two years and we are just a half a year old so far. What you looking at at the moment . We have a lot of event risks priced in, and some of it or most that has already happened already. Thing to worryxt about is of course the u. S. Elections, which are not until november, so that will keep our second half nice and exciting. Mostg said that, the important one being the u. K. Referendum result, and it has been a real surprise, the degree to which markets have apparently thated to almost discount as being less relevant than people had feared. Sterling remains down, but markets generally are out. Out,u quite rightly point all time highs out of the u. S. , and that proves a point, that in a quest for yield, equities kind of remain the only game in town, so from that perspective, when you compare it with fixed income, equity yields look a lot more attractive. Rishaad thats all we have time for. We have been interrupted by news events. Rnc convention in cleveland, ohio. Paypal cofounder and Silicon Valley investor peter thiel is speaking and endorsing donald trump. It is 9 22 p. M. Thursday evening in cleveland. There athe scene quicken loans convention center, and there he is. As a oneyearold, and this is where i became an american. Opportunity was everywhere. Justd studied engineering on the road from where we are now. In 1968, the worlds hightech capital wasnt just one city. All of america was hightech. It is hard to remember this, but our government was once hightech, too. Cleveland,d to Defense Research was laying the foundations for the internet, the Apollo Program was just about to put a man on the moon, and it was Neil Armstrong from right here in ohio. Peter thiel addressing the Rnc Convention. This is bloomberg. Rishaad you are back at the scene of the Rnc Convention in cleveland. Peter thiel has been a dressing loyalists. There he is. Paypal and Silicon Valley investor as well. About theing opportunities a donald Trump Presidency could provide. Race is beinghis honest about it, except donald trump. [applause] while it is fitting to talk about who we are, today it is even more important to remember where we came from. Me, that is cleveland and the Bright Future it promised. Asked us totrump make America Great again, he is not suggesting a return to the past. He is wanting to lead us back to that right future. Urge all fellow americans to stand up and vote for donald trump. [applause] thank you. Thank you very much. Thank you. [applause] ok. Aad that is peter thiel there, the , endorsingf paypal donald trump. We will hear from him in the next hour. Coming up next, is piaget feeling the pinch . We will hear exclusively from its ceo. Rishaad we are looking at regional equities pulling back from eight month highs as the thepect of stimulus cools, regional benchmark down for only the second time in two weeks with the yen jumping the most in four weeks. Governor kurodas opposition to helicopter money became clear. Donald trump except the president ial nomination by for trying himself as the only one to protect america and helpful withering economy. Seeks to Gain Momentum after convention marred. The pokemon go game becomes available in japan. The craze has first nintendos market cap towards 40 billion. Shares in mcdonalds japan also surging. ,ong kong starting out premarket off by 4 10 of 1 . Shanghai flat. Hang seng did enter a bull market on thursday. It looks like that was shortlived, at least at the moment. That is right. Off by 6 10 of 1 after the open and that solid rally thursday. We finally saw it reach that bull market, up 20 from january lows. Pressure,oming under a retreat in the crude price on u. S. Supply concerns in new york. Those property developers, which helped to lift the hang seng to that bull market territory. Pretty flat on the open in shanghai, the kospi down by a 10th of 1 . Out in taiwan, malaysia, and singapore. Whichweakness in japan has seen the regional index retreat from that 2016 high during thursdays session. Ofhave seen a lot fluctuation in the yen on the back of those helicopter money comments from governor kuroda, which came from an interview before the brexit vote. Down by 1. 2 . Some of the other movers we are watching in japan, nintendo is nintendos pokemon go game available in japan, shares up by 5 . Mcdonalds japan also on a tear. Both of these companies have been moving and alignment with entire pokemonhe go space, mcdonalds up by almost 6 in japan, doing incredibly well with those pokemon toys it is selling with its happy meals. 28 , but new down crest mining is leading the space. As investors get out of risky assets, they are getting back into safe havens, the gold price rebounding from a threeweek low and the yen is stronger. Rishaad thanks a lot for that. , byd, itlectronics eli must master plan. Master plan. S introducing electric buses. Thats right. Elon musk is not pretending to masterinal, but with his plan part two, he has outlined that he needs to go beyond cars and more mass transport systems, and massrucks transport. Yd rolledhis year, b out their electric bus. Buffett backs them. Samsung wants to get in on that action, buying up 1. 9 of the company. Can teslahe point is it off . Can they pull it off, and would they need to get more funding as they really failed to get into profit and are relying on their Free Cash Flow for investment . Is that enough . They will absolutely have to get more funding, no doubt about that. Where, when, how much is an open theyion, but right now have three products announced so far, and theyre not running profitable, burning a lot of cash. The big problem is can they pull it off. They have been struggling to deliver product on time, and that is a big problem for them. That is azzer truck, larger scale product from there. Win elon musk will introduce production is not known. He said in his statement a couple of days ago that it would be unveiled next year, but that does not mean production. That is an open question. The situation tesla is in, they could not pull it off tomorrow, that is for sure. Elonad what do you think musk should be focusing on . Look, the big issue is that tesla does a very good job of designing cars. They are nice cars. They look good. They are supposedly well built. But they cant keep churning them out on time. It is what we call manufacturing yield. It is easy to make one product, but to do 20,000 products a quarter, that is difficult. That is clearly difficult for tessa, because the last couple of quarters have missed targets. Targets they put out themselves. They have not been able to get there and are constantly talking about production difficulties and so forth, so clearly what they have to focus on is getting their manufacturing done envoy them consistently with good deals so as they ramp up and take on bigger products such as buses and trucks, they can reinsurer investors and customers that they can keep doing it. Rishaad thank you very much indeed. Media, the foxn news channel, roger ailes has resigned following accusations