p.m. in hong kong. i have an update of the top stories. -- the first time in 13 days that china has raised the rates from the preceding day. it traded at an eight year low on monday. abandoning intervention measures and accelerating measures before donald trump becomes president next year. japan has lit it also -- has lifted all tsunami alerts. people living on the coast were warned to move to higher ground

but no major damage has been reported. they have started a cooling system. the quake is being described as an aftershock of the massive magnitude nine tremor that hit 2011.ch donald trump has outlined his policy priorities for the white house including moving to dump the transpacific partnership on his first day in office. speaking through a youtube video, he also promised to lift restrictions on energy to create millions of high-paying jobs. >> on trade, i will issue a notification of intent to withdraw from the transpacific partnership, a potential disaster for our country. instead, we will negotiate fair bilateral trade deals bringing jobs and industry back on american shores. >> as british prime minister theresa may prepares negotiations for leaving the

european union, jeremy corbyn has raised concerns. he says his party would campaign for continued access to the single market. he also called on make to set out her plan and timetable once talks are triggered by article 50. >> every business i have met and trade union and workers i have met are concerned about that. are we heading or it or not? the government will not set out ist it is negotiating path or a proper timetable. all they have me up with so far is that breaks it means brexit. i don't know what brexit means in that context. >> the taiwanese airline that has had two fatal disasters in two years halted flights today without giving a reason. they say the board met this morning and the economic daily news says the company will be dissolved.

shares have been suspended. regulations and the ministry of justice has announced an inquiry. global news 24 hours a day powered by our 2600 journalists and analysts in more than 120 countries. this is bloomberg. let us get look at how markets have been trading in the asia-pacific today. a pretty good session for asian equities. you are seeing nearly every market tracking higher today. helped out by the solid rally that came through in wall street. here in hong kong, we are seeing some good traction. the hang seng is resuming from its launch break and is driven from the big pickup in energy players across the region. crude oil rallying on the hopes that there could be supply cuts announced at the opec meeting. are also being welded in hong kong. closee seen the asx 200

higher by 1.3% and solid movement coming in from energy players there. the shanghai composite is back up to 10 month highs up by 0.8%. a lot of focus on the nikkei 225 today. negativeading in territory this morning on the back of the earthquake in fukushima but we are seeing the yen pair back a little bit against the dollar supporting japanese equities. the topix holding in the bull territory. looking at the chinese offshore renminbi, it is down by 0.1%. 6.9109 even as we saw the pboc raise the yuan for the first time in 13 sessions. quite a bit of different movement coming through in currencies. you are looking at a live shot of hong kong's victoria harbor. this is bloomberg. ♪

♪ >> the postelection party continues. record highs today. plus, let the doorbusters begin. the biggest shopping days of the year are almost here. we will tell you how big black friday and cyber monday could be. in atec bought lifelock move to create a powerhouse. we will look at details of the proposed deal. there just days away from biggest weekend away for u.s. e-commerce. black friday and cyber monday around the corner. bet monday is expected to the largest online shopping day ever.

joining us for the hour as our guest host is david, ceo of tech economy. thank you for joining us. just how big do you think cyber monday will be? >> as you said, it will be the biggest cyber monday on record. we also think this will be the biggest holiday season on record with consumers spending 10% more this year than they did last year and the majority of that growth will be online. emily: why? >> retailers have done a great job in taking the friction out of the system and empowering the consumer with technology. is other thing we are seeing that all economic indicators are in place for this to be a great holiday. evene: amazon is taking an larger share of consumer spending. what trends do you see regarding amazon versus traditional retailers and interesting in

clothing and apparel of all things. takes 90% of the share from all consumers. nine out of 10 consumers say they shop at amazon. that because of the relationship with amazon, they are shopping at fewer retailers and 20% of them say that because of their relationship with amazon, they are shopping at fewer e-commerce websites. emily: amazon is making its own clothing. it has its own fashion my. do you think walmart -- is there anyway, any other company can tip the scales versus amazon next year, this time? >> tip the scales? no. amazon's lead in e-commerce is so formidable that not even walmart and significantly dented its lead. obviously though in buying jets, walmart once to do that. there is always a counter reaction to everything. when is most interesting did to

sticks i saw in the report is that 56% of consumers seek out independent retailers. i think ordinary shoppers are starting to realize that this -- that these monoliths are starting to hurt their community stores and they want to help them. that is interesting. emily: last year, warm weather across the country led to underwhelming clothing stair -- clothing sales. how are they changing their strategies this year? >> leaner with their inventory. the weather though is finally breaking in the east and we will see cold weather hopefully leading to sweater sales that we are all looking forward to. emily: let us talk about the sales. what trends will we see? deals aremer, the happening all week long. i just got one today. >> black friday really has become black november.

retailers are issuing deals throughout the season. we have seen a blurring. and there are great deals all of the time. emily: will there be great deals in the next few days? >> should we wait? deal, go getgood it now. the consumers are ready to purchase. emily: i am very concerned with my shopping strategy. we figured you were right -- you were asking for yourself. [laughter] emily: talk to us about mobile. this is an area that facebook and instagram are trying to break through? will drive traffic. 25% of all digital sales will be on mobile devices this year. be oncommerce sales will mobile devices this year and retailers have done a fantastic top of making the ease of the

transaction so easy in the consumer that they will do a great job and complete the deal. emily: does it surprise you at all that after a surprise election that this year would be the biggest year of spending ever if indeed it is? >> there are a lot of things that do not always add up in today's political and economic environment. the economy by all evidence is doing really well. there is a lot of optimism about our individual lives even though we may seem to have a lot of pessimism about who are leaders -- who our leaders are. we are in a strange time with a lot of things that are hard to understand. let us put it that way. emily: we will talk more about that coming up. steve, thank you for stopping by. sticking with amazon, the

e-commerce giant is exploring a new way to lower customers. live sports packages. according to wall street journal, amazon is in talks with live game rights with several professional leagues including nfl. sign up new customers to amazon prime and bring in new customers and revenue. over the next hour, a roundup of the top tech stories to walk -- to watch this week. other consumer products. how long can it rely on the iphone? the two hp's debt set to report their results. we will tell you what investors are waiting to hear. this is bloomberg. ♪

emily: turning now to an ongoing

debate. did fake news on facebook sway the presidential election? mark zuckerberg initially told david kirkpatrick this. >> personally, i think that the idea that fake news on facebook -- it is a small amount of content -- influenced the election in any way, i think that is a crazy idea. emily: after a lot of backlash, zuckerberg seems to have slightly, ever so slightly, changed his tone. wethe latest post, he said take this information seriously. we do not want to be arbiters of truth ourselves. david kirkpatrick is still with me. who knew that would be the interview of the year. make of thisou

slight change in tone but yet still maintaining that fake news is a relatively small percentage of news on facebook? change in tone but not in opinion. i don't think he would use these i think what has happened as a result of a huge push back from all kinds of corners including the u.s. president, the lead editorial in the new york times and plenty of other places -- they are all taking this gravely seriously at facebook and they know they have to make changes. what i found impressive given are going,velopments that zuckerberg on saturday outlined a series of very specific steps that they are starting to take to start to think about how they can change

the way that all resumes work, the way the validation of news works. they are going to make concrete changes. emily: let us talk about those changes. stronger detection, third-party detection, raising warnings. are these changes are enough? -- are these changes and off? human they have assessments? it is not easy to answer. it is very possible given the volume of content facebook has to deal with that there is no choice but the out the results will have to do the heavy lifting. that does not mean that they will not be people and a half people. it has been reported extensively in the last week that there are thousands of people in the philippines and elsewhere that are looking at things all of the time.

not just news stories but posted by individuals that are also false or harmful and making quick judgments. we will see people involved. but whether they should have an editorial department and journalists getting involved -- my gut is they should have some people like that involved at the at thelevel and possibly big picture decision-making level but they will never be ableo use those people for every fake story identification. there are too many. interviewed arg facebook vice president at a conference in london. nicola mendelson. take a listen to what she had to say. >> we want to make sure that people are seeing the information that matters most to them and if they do not want to see that, they can choose to block it. i, whatake news as about a potentially bigger problem is that facebook and twitter have created an infrastructure in which we can

live in our own little bubble, interact and only see news from people that we like and whose views we share. is that potentially a bigger problem? >> i think it is more than potentially a bigger problem. i think most users of facebook is something -- that this is something they have experienced. i asked zuckerberg on stage economy. -- sage economy. that they need to do something a little different to put a brake on that. the problem, and i think your colleague sarah frier said some very smart things the other day on your show -- they want to do what is best for the user and that is sort of what nicola mendelson was saying as well. if they think it is affecting

the user experience, they will improve it because that is their bread and butter. it is probably starting to affect the user so that gives them huge incentives to take action. emily: this is not the last we will be talking about this. david kirkpatrick is staying with me. apple is closing down its router division. what will the company focus on now. this is bloomberg. ♪

e apple has this been handed its division that creates its router. they are focusing on other consumer products that produce the bulk of its revenue. interesting that apple is doing this because it seems to increasingly want to own the entire consumer experience. >> this is a market that has become a commodity. if you sign up for a comcast

connection, you will be getting a router delivered to you. it costs money to develop this stuff. and so it is not something a lot of people are going for. emily: will the resources be diverted to other things? >> probably not. but other competitors build routers into other devices. another interesting story out by our colleagues is that it turns out -- the first line -- not all of iphone 7's are created equal. in fact, some of them have different chips. but theyeated equal end up essentially equal. what is happening is that we think apple is throttling performance of chips to make sure they are in line with modem chips from intel. that: this means in theory 7'sverizon and at&t iphone

should perform differently but they do not. chip is better. is better than the one from at&t. emily: couldn't this upset some customers? >> not the customers themselves but it means the iphone potentially is not as fast as other handset makers who are only using qualcomm chips and not once from intel. and therefore, it is a play by apple to manage its supply chain effectively. emily: everyone is questioning the future under president-elect from and what that will be like p andesident-elect trum what it will be like. what is your take? >> three things. manufacturing costs in china are infinitely cheaper. 10 times cheaper for a manufacturing position per hour.

if manufacturing did come back, it would not create jobs is automation is so much better than before. hour and costs $.75 an in the u.s., $40 an hour. in the past, wringing money back -- there is no reason that is unlikely to continue. emily: investors benefit and not consumers. thank you for stopping by. the hewlett-packard brand is focused on growing its i.t. unit. my colleague scarlet fu looks into the details of the company's financial performance. hp ink reported its earnings. the businesses split into two separate companies a year ago. meg whitman leads hp enterprise. hp'ss start with a look at

revenue breakdown. it's enterprise group including servers, storage, and networking makes up 51% of sales. the orange slice of the pie. the services segment will be spun out and merged is 37%. withare will be merged micro focus. when it comes to the bottom line, hewlett-packard enterprise is cutting costs and restructuring to increase its earnings growth. it faces macroeconomic challenges and threats from the public cloud. hewlett-packard enterprises cloud offerings are targeted at private clouds, the yellow section. within growing segment the confines of traditional i.t. infrastructure. private clouds spending they reach $20 billion by 2019 as traditional i.t. spending declines. the hybrid cloud model uses a mixture of private and clap -- private and public services.

hpe's long-term operating margin target of 7% may be driven by improved cost structure rather than a sales gains. the service segment could accelerate the timing and the magnitude of that margin expansion. this has paid off for shareholders. hewlett-packard enterprise, the orange line at the top and hp ink, the blue line are both beating the s&p 500, the white line over the past 12 months. hewlett-packard enterprises overall strategy to be a small and nimble company focused on hybrid cloud technologies. ink is the hardware company which is the legacy printer and pc business. we will be tracking both companies earnings when they are released tuesday after the closing bell. come, withl to billions of dollars on the line, delegates from the u.s. and china talk trade in washington this week. we will focus on what donald

trump's policies mean for tech companies in particular. this is bloomberg. ♪

>> it is 1:30 p.m. in hong kong. i have an update. the taiwanese airline that has had two fatal disasters in two years has announced it is closing down. shears of translator were suspended this morning as the carrier held its planes. he cannot pay nodes do next week and the closure decision will be put to shareholders. travelers affected will be compensated. bedit suisse is said to facing u.s. tax investigation, over $200 million of undeclared assets owned by an american client. he is a edison of the u.s., the u.k., and israel.

prosecutors are investigating the bank's failure to reveal the existence of his accounts. bond traders say a rate rise next month is as certain as death and taxes. 100% for a chance of rate hike. donald trump's policies will mean a quicker pace of monetary tightening. philippine president wants his central bank governor tuesday for a third term and will seek to amend laws to allow that. his current role ends in july. he has kept inflation below 5% for the past five years allowing the benchmark rate to fall below record. global news 24 hours a day powered by our 2600 journalists and analysts in more than 120 countries. this is bloomberg. what is happening in the asia-pacific today. late on a tuesday

afternoon, the session for asian markets are all looking pretty positive. yes trillion share market closing up by 1.2%. good movement from energy players in the region. new zealand did close it session lower right 0.5%. hong kong in late trade is up 1.5% on what has been led by the game with these energy players. crude oil holding at three week -- at a three-week high. the shanghai composite is back up to its 10 month highs. oneave also seen a stronger against the cosby. the nikkei higher for a ninth consecutive session. topix is now in bull market territory. a little bit of strength in the yen earlier in the session on the back of the earthquake in fukushima but it has pared back so japanese equities are looking

a little bit longer. weaker,hore renminbi is this is despite the pboc increasing the yuan for the first time in 13 sessions. we will be live from london at the top of the hour. this is bloomberg. ♪ emily: this is bloomberg technology. trade and commerce delegates for the u.s. and china meet in washington this afternoon after president obama met with pacific rim leaders in peru. to discuss the detas of the transpacific partnership. president-elect dond trump has vowed to kill the deal and retaliate against china which he has labeled a currency manipulator. leading to concerns that donald trump could lead to a trade war. president obama alluded to that. >> when it comes to trade, i do

not believe we should pull back given our integrated economies and global supply chains that would hurt us all. rather, the answer is to do trade right. laborure it has strong standards and environmental standards. emily: joining us now for more institute darrell west in washington. also with us from hong kong is lulu chen. and david kirkpatrick is still with us. still a lot of uncertainty regarding which campaign promises donald trump will keep but he has just released a video message where he has addressed of few of these issues including the dpp. let us take a listen to what he had to say about trade. >> entree, i will issue a notification of intent to withdraw from the transpacific partnership, if potential disaster for our country. instead, we will negotiate fair, bilateral trade deals that will

bring jobs and industry back onto american shores. emily: there you have it. darrell, i will start with you. what is your reaction? >> he is doing exactly what he said he would do on the campaign. this will create the norm problems for our allies in the region and it also creates a great opening for china. at the conference, china is trying to exploit this possible move by the u.s. to tell the countries in the region -- we will create a free trade zone with you. emily: we have some numbers showing just how much is at stake. the u.s. importing $480 billion worth of goods from china and exporting $150 billion worth of goods. lulu, you are on the ground with the leaders of chinese businesses. what is the reaction within china? what our business leaders saying? -- what are business leaders

saying? companies care a lot about donald trump's policies. counting from the top, alibaba has said essentially that if donald trump wants to create more jobs and they are assuming that is a priority, then they will need to work with chinese companies like alibaba that are investing in the u.s. and trying to acquire more products from the u.s. as chinese consumers buy them.oving to silicon valley is trying to bar immigrant workers. china is more than happy to take those workers. to create its own technology boom going forward. continuingld trump to support the promises he made on breezes and immigration. i will direct the department of labor to investigate all these

is that undercut the american worker. we are starting to see some potential policy intentions take shape. what do you make of this? smart global business leader once said that there is a global battle underway for influence between china and the u.s. and every country around the world is looking at the two systems, one very top-down and autocratic, one democratic and highly capitalist. and to see which one gets the best benefit for its people. i think unfortunately, a lot of donald trump's proposals do not factor in the global impact of his actions on that battle. as many have been explaining, the possibility is really great that china may gain the advantage based on some shortsighted actions we made the taking. -- we may be taking. it is interesting to hear lulu talk about how the china companies think they can

benefit. emily: that is interesting. actual, how likely is an trade or -- trade war? have said that china's actions have effectively amounted to an undeclared trade war. how would the -- how would this be different? >> this could be devastating. donald trump talked about imposing terrorists on goods oning -- imposing tariffs goods coming in from china. if he does that, we can guarantee were tellier's and from china. the risk is that the whole infrastructure supporting globalization is going to fall apart and it becomes a catastrophe for many different countries. emily: what companies in particular would feel the effects of this the most?

as i mentioned, alibaba is really focusing on expanding globally. u.s. is one of its core targets. for them to go into the u.s. in the future, they need to procure products. they are targeting u.s. consumers. donald trump policies could affect them. -- their core policies not so much but in the movie industry that could affect them. we are already starting to see a push back there. emily: a lot of folks i have spoken with say the bottom line is that donald trump is a businessman and he reckoned rises or will recognize that the relationship between china and the u.s. is very important. do you think that ultimately we will see a softening of the rhetoric and the actual policies put into place or do you believe

he will take as hard a line as he says he will? >> i hope there will be a softening when he realizes the negative economic consequences. it will be very difficult to bring manufacturing jobs back to the u.s. because of the cost differentials. it is much cheaper to produce those products in china. but the thing i worry about is that when you look at his initial administration appointments, he has appointed hardliners to some key positions. that suggests off the bat he is not going to soften in some of these positions. emily: closing thoughts. there is a contention that donald trump may not understand exactly how many jobs would be created if apple moved manufacturing for example of the iphone or part of it back to the u.s. techst had our bloomberg reporter say it would not actually create that many jobs because automation is that good.

where do you see this actually going? those were some -- some amazing statistics. a75 an hour to do manufacturing job for a robot in china. $40 an hour in the u.s. there is just no way we can bring a lot of manufacturing back without either not creating jobs were dramatically increasing consumer costs. if people want things to cost more when they go to walmart, find, bring some of those jobs back and create manufacturing jobs in the u.s. i do not really see how this is going to play out. that one of so many things i said earlier is pretty darn hard to predict right now. donald trump's rhetoric seems to be contrary to logic. emily: and still it is a rhetoric that likely won him the

election. thank you all. to a developing story. federal authorities are investigating an accident involving a massive experimental drone developed by facebook. the social network released a statement saying that no one was hurt during the flight test on june 28. the ntsb has not released the findings of the investigation. coming up, another multimillion dollar deal for manteca but are there more deals to come in software. we will discuss. this is bloomberg. ♪

emily: turning now to a major

deal in security software. symantec is buying the identity theft protection company capping 42 $.3 billion an especially big gear of acquisitions for a symantec which also bought -- in august for $4.6 billion. still with us, david kirkpatrick, ceo of tech economy. through almostne a complete makeover in the last year. they also sold a veritas storage system. where did this new acquisition take them? emily: symantec is addressing the+++

has been hard to come by. what they are trying to fix is to acquire a steady revenue stream from lifelock. it hardly addresses the problem they have in the consumer segment. the bluecoat acquisition was targeted at the enterprise segment. emily: symantec has struggled because it's security software was loaded onto pcs and then the world went mobile. how well-positioned is symantec to compete in a world where there are a lot of mobile threats? >> you are absolutely right. the security landscape has changed completely. they address a specific portion of the threat. they are not integrated platforms but for a palo alto network. i think what you will see is a lot of these point solution vendors being acquired because growth is slowing and they cannot address overall problems. for a company like symantec, they are putting the pieces together. but you do not know if the

product synergies are there and that is where the execution comes in. emily: it is interesting to see these first m&a deals take shape. donald trump will be in office in january. this deal they have been in works for a long time. what do you expect from m&a under donald trump? >> there are a lot of reasons to expect tech m&a to grow in the coming years. if the repatriation of overseas profits is allowed which will almost certainly happen in some form, that gives these companies more money to spend us to play. they are already buying companies overseas using that money and it makes a lot of sense to see that as a factor that will increase m&a. we are entering into a very uncertain environment. the more uncertainty, business leaders like to be a. it makes them feel safer. that might be another force militating towards more m&a and

i think the pace of change continues to accelerate. these big companies cannot invent everything themselves. that is another reason why they have to keep buying new tech. identity management is one of the big challenges. they did not develop it themselves, they got it from somebody else. emily: lifelock has had some different -- some interesting run-ins over false advertising. they have made bold claims protecting customers money. do you think symantec decided that bigger is safer and were willing to deal with some of these issues? >> i think the fact that they are ready have a $4 million -- a 4 million customer base, it proves that the revenue stream they are getting from lifelock is steady and it fixes their consumer segment problem that they have been trying to address.

it is a good idea for them to pursue this acquisition. the only problem is that they do not have the -- to pursue more deals like this. it does not leave them with much room to pursue more deals like this. emily: thank you for stopping by. david kirkpatrick is sticking with me. up next, instagram joins a live video game and joins another feature that looks like snapchat. -- the copycat teachers mart are the copycat features smart? we will discuss. this is bloomberg. ♪

emily: a story we are watching -- made to the started testing demand. as $750could be as big billion. the biggest tech ipo since 2007. it will gauge interest for potential investors.

it has not set a target listing date. instagram has launched a new feature,o messaging further in competition with snapchat. it allows viewers to watch only while it is streaming without the option of a replay. for more on the launch, sarah frier is in studio and david kirkpatrick is still with us. talked was about how this impacts competition between instagram and snapchat. stories,nstagram added that was basically a blatant copying of snapchat stories. wondered if they would admit that they had copied. and they did. a step beyond.it instagram has something that snapchat does not. snapchat --

emily: snapchat has no choice. david, what is your take? -- younginteresting people use snapchat and instagram the most so to see it outooling -- dueling is interesting. emily: why does snapchat not have live videos? -- they not something prefer to have a curated experience that is live enough. for their life stories -- -- -- the video is more curated and it still feels life. .- live david, you have some

interesting thoughts on a potential snapchat ipo. we know they have filed to go public. they have filed to go public earlier in their life then facebook. earlier in your life cycle you go public, the more risk investors are taking on when they buy your shares. i think there is a massive appetite on wall street to identify the next fast growth, big tech company. that is one reason why you were -- uber is getting these huge valuations. ofpchat is probably as good a guess as you can make about what the next company might be that could really grow a lot and be a massive global success. on the other hand, it is by no means proven. i think it has great management. they are doing some smart things. but there is no way you can really know what snapchat's

future couple of years are going to look like in my opinion. >> i think the big question around the ipo is -- is this more of a twitter or a facebook? wall street will hope it is more of a facebook. but they are the same kind of risks. is this a niche product? emily: somehow snapchat has managed to avoid the criticism that has befallen twitter and facebook in the last few weeks over potentially swing the elections and changing our social patterns and increasing the walls of our social bubbles. what do you make of that? >> they should start holding their hats until they get that criticism. if they became the kind of company that shareholders want them to become, they will by definition have to get into serving all kinds of other information including political

news. one way or another in a very snapchatian fashion. i confess, it is a little hard -- i want tow quickly say. i think sarah's point before was really smart. facebook has the infrastructure to be able to do this at a lower cost than a snapchat or they have already spent the money. if instagram and that chat are going head to head, the facebook big brother ownersp with infrastructure advantages could begin to become a major competitive advantage. kirkpatrick -- thank you so much for stopping by. sarah frier, always wonderful to have you. a story that is trending. ups is the latest company to tap into artificial intelligence. it is developing apps to help customers with simple requests. it may someday enable customers

to track passages -- packages using voice command. that does it for this edition of bloomberg technology. all episodes of bloomberg tech are live streaming on twitter. check it out. that is all for today from san francisco. ♪

>> pushing policy, donald trump ix theking to ne transpacific partnership and his first day in office. >> maintaining monetary stimulus. exit.g against a hard they said that pulling out of the market would be damaging. we will bring you the interview this hour.