furtherers have reduced cutting already record low interest rates. the long-awaited merger of the world biggest brewers is going ahead. it is worth $75 billion to back the acquisition. the biggest corporate loan on record. the merger nears -- needs regulatory at approval. they want congress to examine the deal. company, off by 27%, recovered from losses that hugely favorite back on the market. --id: we are talking about 17% right now. 425 a pop.

it's a must like a repricing in the market. 17 and a third is the damage right now for the big oil energy players. in australia. some of the things we are watching in hong kong, we are still seeing gains, a lot of these tech and telco stocks moving higher. lenovo, earnings a little later on. 2.34%. japan, look at these big moves. up 17%. this is down to just profit

outlook. 20%, quite a big move. forecasting -- their forecasts are up by 11%. quite a correlation that we have really seen between what the company say and what this market is. that's a very good text market's that -- textbook example. before i end, earnings a few hours ago, mostly in line with expectations. i almost read not, we have an ipo, a trading debut in hong kong. and technology, 14.52. look at that move. that is despite the ipo being at the lowest end of the range,

2.1% share. we are now obviously way below that. raised in hong. kong. i will leave it there. back to you. rishaad: we get a look at china's corruption hunters, they have turned their focus to the city of shanghai. they have netted the most important tiger yet from that city. the director of the free trade zone is under investigation, the second official to be questioned in less than a year. we are looking at this developing story. they did promise to track down tigers and flies. wonder howou have to many senior officials are left that have not been touched by this purge. one, the critical economic development zone was one of the prized projects of the central government, it was meant to be the pilot pad. rishaad: it started with a lot of pizzazz but it fizzled away.

guest: exactly, i think there was a recent survey that said not a lot of these policies have been implemented or taken up by the companies involved or within the zone. that aside, he was in charge of it,. andas a lot of enthusiasm support from the operation lines of the party for everything he had done to push for the project. he also wore the hat of the vice mayor of shanghai for economic development. in that role, he was also overseeing a number of high profile projects like the disneyland resort that is supposed to launch next year. backtrack a little bit, what caught him was that time at th ag steelmaker, that had number of corruption scandals over the last few months alone. was the chairman of baosh an, and they were probably economic crimes that he was participating in that led to the investigation.

rishaad: that's of the shanghai. it would seem like another bit of evidence that all of this is being ramped up. guest: it has been ramped up and also in focus, because we have had the focus shift to the economy and the financial sector , the financial sector and also that he's moving on to the big boys now. the political heavyweights. in key large cities like aging and shanghai, -- beijing and shanghai. something like 75,000 officials have been caught up in this anticorruption crackdown. there's essentially shifting to more politically sensitive upper echelons that were not targeted necessarily before. xi jinping is say moving to the face of his leadership or he's trying to consolidate power. solidifying the allies he has, the hornets nest of

political implications as he does this. rishaad: thank you very much. get a check on the other stories. hong kong exchanges a rise in profit. the sale of the property here -- there, net income of 81%. dailey said trading turnover rose 45% during the quarter. hong kong exchange is expanding equity links and planning to introduce a shenzhen interface or connect. it want this in place by the end of the month -- must. a slowdown in the construction industry in china hitting the big names. excavator sales dropping in october, down by more than 30%. of new and profitable building projects has declined from 2008. that is one beijing launched a $600 billion stimulus plan.

they are holding back and that has hit sales of construction equipment. -- theake a look at some financial impact of financial -- defective work. the japanese building company raising its four-year profit forecast to $73 million, that does not include costs from the vehicle, building. that is where data was falsified. a scandal over construction practices. >> we are deeply disappointed with the defective work by asahi as we intended to team up with the best contractors to build top-quality projects. i cannot disclose the cost of the damage, but it won't be small. rishaad: illegal forest fires in indonesia have been making headlines. they have sparked anger from neighboring countries who are choking in the smog.

greedy landowners are being blamed, but there are reports the fires may be linked to local elections. now.chaffee joins us how are these fires connected to the electoral process? reporter: it seems that they are. research by a forrester scientist shows around every election in the past decade, fires have spiked. that is because it turns out the candidates actually giving out free land, or the right to use land, to voters. probably to village heads to get the village behind them. that is a much bigger incentive to vote for a candidate then a bowl of free noodles are a free t-shirt, which might be the normal giveaway in an election. but if your village can get a plot of land, people would be more likely to develop -- vote for the candidate. it is common people will burn the land. panomo,g to the nomo --

there is a clear link. before each election, the fires spike. rishaad: what could the central government do about it? is there a willingness to do anything about it? the challenge is, under the decentralized system of government, it is actually the local officials that have the power to hand out licenses for development. cannottral government actually stop them. way is trying to do is been a law that allows families to burn two hectares of law -- went. people are taking all the permits for a village. the government wants to ban all burning of land, even if the candidate gives outland, the idea is villages would not be able to burn it.

the board'sacross enforcement. there are already rules stopping development in peatlands, that whole a lot of the carbon that is causing indonesia to be the world's biggest greenhouse gas and is there. -- admissions place. there's already laws of vents that, there's a problem with enforcement. a lack of police, lack of rule following. thank you, our jakarta bureau chief from the indonesian capital. up next, no operated assistance needed. company posting results in line with estimates. our interview with this singtel chief executive. after the break. ♪

zeb: stories making headlines around the world. under pressure.

slovenia has building a razor wire fence and sweden will introduce temporary controls amid the growing migrant crisis. selena says it is acting to prevent a humanitarian catastrophe. pat toomey -- tuesday some in malta, eu leaders are expected to offer billions in aid if african countries will take back more migrants. at least 10,000 people have joined a rare mass protest in kabul over the murders of seven members of the shiite ethnic group. the decapitated bodies of foreman, two women and a girl were found last weekend. sparking anger across afghanistan's ethnic and sectarian divide. security forces opened fire and protesters demanded government action. the president went on national television promoting justice. a rare diamond has set a new record in geneva. the blue moon was knocked out from 40 and a half million dollars. it is akin to buying the best

work from one of the old masters , the gem as follows and raised over 12 carats after being cut and polished.it was found last year in a mine in south africa. it also produced the star of africa diamond in the british crown jewel. rishaad: southeast asia's biggest phone company posted results in line with the output. they maintain the guidance that back in may. haslinda amin sat down with the chief executive a short time ago. >> we see very exciting growth and the emerging markets with where we have exclusive scriber growth, what we are seeing now is that we have better networks being built, we increased smartphones, there has been a rapid growth in mobile data. we see that as the next area of growth in all the emerging markets. we see these rapid mobile data

growth in india, the philippines, in indonesia, across all markets. what we have done -- found is that very significant investments have been made in mobile networks in acquiring spectrum, and that affords each of the operators to be in the position to gain significant market share. haslinda: but there are headwinds. what do you foresee for singtel in these markets? >> each operator we invested in was, whether in indonesia or they are reaping benefits of the investments they have made in that area. they have continued to gain revenue share. you would always expect to see competition. competition is a fact of life, we have to learn with -- to live with competition and link to do well in competition.

those would be the headwinds we will face in the market. net through investments and worth, and customer service, we certainly expect to come out looking good. haslinda: but they are also becoming more mature. what is the risk and the impact on singtel? >> the next phase of growth, not just in emerging markets but in more mature markets, it is all about mobile data, increasing mobile devices. voice and sms, but the whole range of functions for work, e-mail, doing all your searches, entertainment. in fact, we have seen significant data demand for all kinds of video products. haslinda: you talk about competition, there will be greater competition in the singapore market with the fourth netflixalso with

offering services from 2016. how are you gearing up for this increased competition? >> with the many service providers in the singapore market, although there are only three infrastructure based providers in singapore, we believe that competition actually brings out the best in each of the operators. whether there is need for a fourth mobile operator, we don't think there is a need in the singapore market. we have invested significantly we have the best 4g networks in singapore. pereliver 300 megabits second. we get our customer whole range of data plans, catering to different user profiles, people who use a whole lot of data, people use mainly vice. -- voice. in terms of pricing, service

we are, we believe already amongst the best in the region. we need at believe fourth operative. clearly, that is the regulator'' call. we need to see the feedback. we may take competition seriously. rishaad: coming up next, alibaba's singles day sale proves to be quite a success. the ambitions don't stop there. we will hear from jack ma after this. ♪

rishaad: alibaba has plenty of reasons to celebrate today. in fact, 14 billion good we have the chairman, jack ma, record sales on single state

meeting last year with 12 hours left. is a unique day. is the day that we want all the manufacturers, aldershot voters -- all the shop owners to be thankful. we want the consumers have a wonderful day. it is a special day, businesswise, number wise maybe not a big difference. but for the event itself, the meaning of it, it is such a great excitement and china. you say you want up to 60% of revenue to come from international. what is the timeline? when did that happen? jack: everything we do, we have a 10 year plan. we started in 2003. said we always judge how much we should do, and what we should do. to realize our dreams and 10 years. was in 10 years we

would reach 50% of the revenue and money, and sales from china. last spoke on i ipo day and it has been a bit of a roller coaster ride for the barelynow it is just above the ipo price. had he explained it love-hate relationship that investors had with alibaba? jack: they love me, they hate me, but we love them. right? you cannot stop people hating you. we also cannot take care of the stock price in our way. we have to take care of the results in the customers, and the performance. because people don't like china's economy, they hate us. if they don't like this, they hate us. people will understand, we are a company, we want to last.

we had 86 years to go to prove ourselves. emily: he said today, chinese economy faces a bumpy ride. many internet companies will fail. what are you most concerned about? china, china's economy -- china company being that does not mean that yours would be bad. believed the internet would start to grow. we think it is an opportunity worriedwhen everybody about the china economy and china, the global economy, we think it is an opportunity. worried is not solved the problem. we have been worrying for so many years. emily: when you say many internet companies will fail, what kind of companies? jack: many have failed and will fill in the future.

if the do not change themselves to make the future needs of the internet users -- the users, the consumers change quickly. it is almost difficult, it is know.ible to 10 years ago, who was the most successful internet company? yahoo! in china, they were wonderful. but today, it's different. don't know if alibaba will still be like this in 10 years. we have to worry every day. emily: do you think we are in a bubble? jack: no, i don't think so. as makes aike billion dollars profit, then you call it a bubble? -- bubble a good logo to have. emily: many investors are skeptical about alibaba, they are shorting alibaba.

they are concerned about accounting at alibaba. how do you respond? jack: that is their right. if theywant to short, believed what they do, they should continue to do it. we cannot comment on their strategy. you, peoplelike hate you. i cannot make everybody like us. we blue -- we do things we believe is right. ipo'd, we when we cannot promise everyone's happiness. we wanted to promise that we would do everything to make our code -- customers and employees happy and then shareholders would be happy. this is the facade -- philosophy. this is what i have said for the past 10 years. people like you, people don't like it, that is their right. alibaba jack was ma talking with my colleague, emily chang. that is it for this thursday at this -- addition of "trending business."

is going to john us coming up as we recap the stories of , including the shifting policy in china. you are watching bloomberg. "asia edge closed what is next. ♪

♪ announcer: from our studios in new york city, this is charlie rose. charlie: john meacham is here, he is a pulitzer prize-winning historian, and executive director at random house, his latest book is "destiny and power: the american odyssey of george herbert walker bush." it draws on extensive conversations with the former president, his family and inner circle. in it, the older bush offers assessments of dick cheney, donald rumsfeld, and even his son. alongside the controversy, there