we have an update of your first word news. markets in the asia is the responding to president trump's tough tariff talk. republicans now calling on the white house to abandon the plan. gary cohn, the senior adviser is calling a meeting trying to persuade the president to change his mind. clipping to china, they are ready to remove limits on foreign shareholding. the commission also flagging foreign investment. the chairman says he is confident that the china can hit

the growth target this year while also cutting down the deficit. ofan reviewed the nominees the bank of japan. nominees saying that the banks can adjust at when the time comes. governor kuroda saying that he is looking for an exit after april next year. global news, brought to you by ,700 journalists and analysts 24 hours a day in more than 120 countries. this is bloomberg. ♪ "bloomberg technology is coming up next. ♪

emily: i am emily chang and this is bloomberg technology. qualcomm's biggest shareholder meeting. the u.s. should maker is on the case to win over the board. plus, social media platforms are under pressure again after pop in his impression of the competition over italy. the bank of amazon? the company's new move into the world of financing. first, to our lead. the war of words heating up again between qualcomm and broadcom, as they prepare to jump a new hurdle over their 100 and $19 billion did to take over their rival chipmaker. broadcom over a proposed deal of national security concerns, calling it a "latent and desperate move your car there is an investigation as to whether qualcomm can purchase

the u.s. chip maker. broadcom is believed to be in the race to win. firing back, accusing brought come of deliberately seeking to mislead shareholders in the general public. this, i bring in our bloomberg intelligence reporter matt larson and, and also from bloomberg gadfly, sutherland. i would like to start with you. the shareholder meeting was supposed to happen today but it did not. could you unpack the nuts and bolts for us? guest: what happened is that cifius issued an interim order provideng that broadcom more information. days toically take 30 review these types of issues, to figure out if there is a threat to national security or

afrastructure interest, from foreign company investing in a u.s. company, or, a company that does business in the u.s.. emily: so, do the acquisitions from broadcom hold water? matt: typically what will happen is when there is a foreign acquirer or interest, they will cifiuscit ument looking for approval. that is typically after the ink is dry, and they decide to do a deal. smanship, trying to stir upt is doubt in shareholders minds, on whether they actually want to vote, the broadcom board members. emily: what are they concerned about, if indeed they are concerned? sutherland: i think it is a valid concern. some lawmakers have raised the possibility on whether we would

be copycats. if you look at the broadcom strategy, you would say that if this company were to be successful, if they got -- they would get effective control of the u.s. company via a proxy fight. given the circumstances and tactics that radcom has used to try to push his takeover bid ahead, i ink this merited it. qualcommsaid that filed a secret request with cifi us back in january. it is important to know that outcome did not just called back next weekend because the were worried about losing the vote. qualcomm claims that broadcom is engaged income indications with cifius, which broadcom has confirmed to a certain degree.

emily: current reporting indicates that broadcom does still have the upper hand here. why? matt: qualcomm has had a lot of trouble with their racing business. getting shutout of collecting patent royalties around the world, which is a big deal. broadcom has said that this model is broken. we should focus on the chip business and minimize patent trolling or collecting licensing dollars. we should seek to increase revenues by about is this model. it is looking attractive to qualcomm shareholders when you are being locked out of apple revenues and there is no end in sight to elect the and conflict -- complex legal battle. it is building on those shareholder concerns and fears, as a good tactic. emily: how long will the review to take? sutherland: sify is good come out and say that there are

going to do it. we really don't know. the question is, what will broadcom do? it seems that they would be inclined to wait this out. if it is successful in getting lesson, itive its would be one less hurdle to get to the end zone. deal will makes that easier to get the shareholder vote. emily: what will the impact be at the shareholder meeting if it happens as planned? matt: if it happens as flat, we -- if it happens as land, we will need. if it gets the stamp of approval, that is great news for broadcom. there could be mitigation agreements the could be concerned about international control to isolate portions of the business. they could have a plan, but that is a lot tougher to which to shareholders, if you are starting to segment of versions of the business. we will see what cifius says.

i think qualcomm gains a bit of leverage if they don't get the oval and convinced shareholders favor.vote in broadcom's emily: broadcom once more seats, -- may have gotten force. broadcom once more. talk us through the particulars. guest: broadcom had said that if they do not get the majority in the merger, they would walk away. we will be interesting to see what happens if we get four of the six. , theay remember that iss advisory firm, came out for only four of broadcom's nominees. so, shareholders could be following that guideline. you have a message being that from shareholders clearly, that they are not happy with qualcomm's management team. whether they shift their focus to the pending acquisition or go down the road and this falls apart, could you see an activist

come in and maybe's day, we need to read think the structure of qualcomm and explore a breakup. there was an organization that put the forward a few years ago and management of all come said no. we don't think they have the same legs to stand on to resist this. emily: matt, will this have broader implications to other foreign companies or is this -- foreign companies looking to buy companies and the united days, or is a particular to the broadcom-qualcomm merger? matt: an interesting wrinkle is looking to restructure and incorporate in delaware and become a u.s. corporation, and there is a lot of consolidation and activity in semiconductors and tech generally. if you are a foreign company you are looking at trends with how the cifius courts are ruling. it is not a transparent area, and a lot of it is seen as club -- cloak and dagger, or behind this means. any indication as to how cifius is treating these matters, is

information that the market will taken. ,t shows whether hurdles are and what the parties of the administration are. emily: thank you both. another day, another legal battle for over. pennsylvania's attorney general is suing the ride-share giant. the suit says that they failed to disclose the hack that affected over 13,000 uber drivers in pennsylvania. uber had known for years that this could potentially affect millions of passengers worldwide. they are seeking penalties as high as $13.5 million from over. coming up, the votes are in. a new antiestablishment government in italy, and once again, people are looking to blame social media for the outcome. that is next. if you like bloomberg news, you can check us out on the radio, listen on the bloomberg, or on

sirius xm. this is bloomberg. ♪

emily: italy is set to usher in a new government following the democratic party's defeat in the general election. populist five-star movement in the far right party won big in the election and just like in the 2016 u.s. presidential elections come up will are questioning the role social media played in the outcome. we have this report from rome. >> populism has slept the italian election as more than

51st and voted for the antiestablishment, in euro-cap tick and anti-migrant parties. -- euros cap tick -- euro-skeptic and anti-migrant parties. there is furious gridlock in rome -- no coalition has been formed. and they are looking at the role social media played into votes. fake accounts on twitter and facebook have -- that had laid dormant since the 2016 referendum campaign sprung back to life before the election. a digital research firm in washington said that in the lead up to the vote, they were detecting attempts to popularize the more extreme parties, both right and left, via bots. they can spread false information there we had the organization may have been right, as italy's most extreme party outperformed the

establishment in great numbers. bloomberg news, anne-marie word hordern in rome. emily: now to they deeper into the social media effect on the accounting elections, i want to bring in caroline hyde from london. is it fair criticism, caroline as to whether social media is to blame? caroline: questions have to be asked. at the heart of this election has been the power of the internet. winning in 2009, the party, the biggest party known as the five-star movement, was created out of a blog we had in fact, we had posted over the weekend, the other key beneficiary over the course of this election has been the right party, the league. the leader of the party said thank god we have the internet. thank god, we have facebook. he was quoted saying that, because they could get their messages directly to the audience, without going through

the beady eyes of the media. they inflamed concerns about immigration and received populism storm to the front once again in europe. i think this is what anne-marie was highlighting, that we are seeing bots come alive and kicking whether they are in twitter or facebook. we are seeing the number of italians using the internet to get their news rising. secondly, the key here is the number of fake news stories has been on the rise and the fact they have exaggerated how well the right-wing parties were doing in the polls. we have seen doctored photos, hitting back at some of the more used to be the more popular parties, the centrist arteries. they may have come -- the centrist parties. evidence that russia is once again behind this misinformation. bloomberg has been reporting that the states-controlled news agency come us.net italian bash

italia is among the most influential for news organizations throughout the campaign. emily: how has italy tried to monitor social media activities and social networks? caroline: the government has been getting involved, some not too pleased with that. overall the italian government has been setting up a civil button you can press if you suck -- if you thought any news was fake. ,otably, they want face look google and twitter to be their own regulators. step down,inister and he was the previous prime minister, laying blame to this the loss of the selection to social media. he stood up in the front of the likes of facebook and other social networks in november, saying, social networks, as you surely face book, need to help us to have a clean electoral campaign. the quality of democracy in italy depends on the response from these issues. and we heard responses from the

past. we heard mark zuckerberg at the year, try to pushback on fake knees by getting the user base of some 2 million, rate the quality of the newsfeed, they whether they had seen media sources. whether they would rely or trust media sources in their newsfeed. as yet, it doesn't seem at the self-regulation has been able to impact, and it seems like fake news, the russian bots have enabled to drive forward and are up some of this backlash to immigration. in some of the hatred that is fueled the winning out of the right-wing parties in italy. emily: the government has asked tech companies for help, but tech companies haven't responded? caroline: as it stands, they haven't been able to respond. certainly, we know that facebook has been trying to get the parties involved. election, were the

knew that facebook launched a partnership in particular, with an independent fact checking organization, wanting to track fake news and fake images. we also know that some other third parties have been itching in. the politicale of advertisements in particular. in germany, will the election back in 2017, there, fake news is not such an issue, we saw the main parties win out once again. in some countries, perhaps of this sort of self-regulation is not needed. you havedy lee, where migration as a key concern and these parties benefiting from false news, it looks once again that key companies like facebook and google have more questions to answer.

emily: caroline hyde from london, think is the much for that up day. coming up, after diving deeper to health care, amazon is dipping toes into the world of finance. we look at jeff bezos's latest ambitious move, next. if you like the bloomberg terminal, check out tv or watch us online to react you can go to tv on your terminal to find it, and also find us on twitter. emilychangtv. this is bloomberg.

emily: apple is getting ready to turn up the volume with new high-end headphones. apple is working on noise canceling headphones, and unlike its current wireless earbuds, these would be over your devices to rival the apple owned beats by trey who are market leaders.

--beats byy during dre. we are hearing that there may argue be some developmental challenges which could push back the release. are you ready to tech cash or checks with amazon? that could be a reality as the online retailer is talking to banks including j.p. morgan chase and capital one financial, to create a checking account-like product. amazon does feature some products like amazon pay and a pseudo-debit card called amazon cash, but what will this means for banks and customers? for answers to those questions, i bring in our bloomberg from answer order. ?enny, how would this work the bank of amazon "quote"? jp morgan and capital one are apparently interested in becoming the rank of amazon, of sorts. they are interested in providing

products to amazon and it's very large customer base emily: what kind of risk does that involve amazon taking on? >> in terms of risk, there isn't much risk -- there isn't too much risk. i think the question really is, why isn't amazon doing it? it comes with a ton of regulation in terms of the capital and all the regulatory requirements. the expenses that you have to take on to meet all the regulatory requirements. banks like jpmorgan and capital one do this everyday, so it is more bread and butter for them. emily: talk about the footprint that amazon has here, as this is not there first foray into finance. jennifer: that is a good point, they offer a lot in terms of small business loansave a credit card already with j.p. morgan and in synchrony financial. one of the things they did last

year is they offered a prepaid account where you load money into an account and amazon gives you a little bit of cash back called primary load. -- prime reload. it is a state that they are making a deeper question into deposits, maybe it signals that prime reload took off. maybe it signals they found a lot of demand and feel like a bank like jpmorgan or capital one would be better equipped to meet those needs. they have gone down this path already and you will be interesting to see where they take this. emily: when amazon decided exploring the health insurance industry, health insurance companies got worried. should banks be concerned about amazon moving to their turf? jennifer: that is a good question. i think a lot of the time, when you look at amazon, you may be worried because they show dominance and everything they have ever done. but for banks, it is more like an opportunity. going out and partnering with one of the biggest names in the industry. it seems like if you are jpmorgan or capital one, a good way to get customers and deposits, and it is cheaper than

the traditional customer going to a bank branch and going to a teller. i think in terms of amazon's foray into deposits, it is good news for a bank. emily: how many customers do you think will be interesting in something like this? -- interested in something like this? jennifer: it is hard to say there was admin they could be low income or young customers, who aren't ranked yet. -- banked yet. it is said that there are 10 million of them. emily: jennifer, thank you for filling us in. coming up, female investors look to shake up how the vc world operates. we will talk to one of the founding partners of "angel." and, bloomberg tech is live streaming on twitter. in news out at 5 p.m. york, 2:00 p.m.'s emphasis so. this is bloomberg. retail.

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it's a drone! i know. find your phone easily with the xfinity voice remote. one more way comcast is working to fit into your life, not the other way around. >> is 130 p.m. here in hong kong, i am david english with your first word news -- with your first word news. trump -- republicans are now calling on the white house to abandon its plan to raise tariffs. white house advisor gary: organizing meetings to persuade the president to change his mind. aluminum, it comes from countries like mexico, canada and u.s.. car manufacturers, they rely on these. if you put tariffs, then the americans will have to pay. >> china is ready to remove

limit on foreign shareholding. the commission also flagging potential revisions to its foreign investment negative lists. thatys he is confident china can hit its growth targets while also cutting taxes and its deficit at the same time. here, cape scene canaveral, where the latest spacex launch is due. the falcon 9 is carrying a spanish satellite which will be deployed about 33 minutes after liftoff. the launch was delayed due to andks on the rockets a load protection. the news, 24 hours a day come up our more than 2700 journalists and analysts in more than 120 countries in riyadh here is juliet with our report. juliet: looking at the market today, we are's the asian stocks

rise for the first time in sessions. investors are starting to get a bit more of a reprieve as those trade tensions start to ease. the nikkei trading up at 1.8%. we have seen a switch out of the yen today, holding at those november 2016 highs. the philip in peso is one to paso is- the philippine want to watch. the philippine paso is off by a third of a percentage area australian market also closing higher after we saw a rebound coming through in all of the materials iliad let us look at the aussie dollar, falling flat at the moment, but it had used earlier in the session, due to theut of the export data in australia. seng index,hang

tech stocks rebounding after the 20% drop yesterday. analyst saying that the selloff was a overreaction. we are live from london at the top of the hour. for bloomberg daybreak europe. this is bloomberg. ♪ emily: this is bloomberg technology, i am emily chang. three years ago, a group of twitter employees decided to come together and form #angel, to form their power and work on tech investments. also, to get more women involved in investing. since then, they have invested in companies with a female ceo. i have been trying for the us to for three years, to get you on the show to talk about this. it is actually three years ago this week that you decided to found "angels."

talk to me about where the group started, and how it has evolved? >> it was funded by myself and five other technology and the kitties who formed a close on together over our experience of working at twitter together or we had i think he was that might they party, where the six of us were having it is russian and it is headed that we should be more active in the industry, investing and trying to help shape the future of companies coming out of silicon valley. a group of six women who had the career in the industry among we felt like we should lean into this opportunity and intel invest. >> some of you still work in twitter, and some of you have moved on, but angel has remained. you still have these networking events, the rest of the committee is engaged as well. talk to me about the mechanics. about 50made

investments, but you don't really have to agree, right? >> six of us make a individual investment decision, but we cooperate. we try to build something bigger together. best weinvestment as have invested as he mentioned, in over 50 companies. the goal is to get more women on the table in text all caps, and we hold event in conversations to help promote women in the industry. emily? let us talk about what the cap table is. the payout of who will get what and how much when it tech startup exit. your point is that there is a huge gender gap on the cap table . guest: that's right. it records who owns what. there are for groups of people who get major ownership in the company.

early employees, investors, founders and angel investors. we know that women are represented very low in those categories. important because wealth creation that occurs through the cap table of silicon is what funds many of the downstream institutions in our industry. invest,ou want to angel bootstrap a company, having a financial from an exit and being on the cap table is really critical. so, if we do not have women and underrepresented minorities or to some rating, it is an issue that we think matters. we want to get founders and venture capital firms to begin emily: we know that women are

underrepresented, but you are's even lessheir own represented in the money that they are making. you are calling on the various groups to change the gap in the cap table, the gender gap. say, womenght investors don't have the track record yet, or, that is this said, when i lp asked them why they were not focused on female-focused funds. relationships come from early investor networks. a simple phone call from someone who has access is really diversify the relationship networks, to bring women and underrepresented minorities into the social meetings, the seed of this community that brings a lot of access to our community. emily: you left twitter to work

at google ventures for a few months. we know that women are underrepresented in vc's. why do you think this problem has persisted for so long? you went back to twitter, and jack dorsey personally asked you to return, what is it that you saw in the world of vc that made you realize, why this is such a problem? jessica: i love investing, the first job i had out of college firm, a venture capital the angel invested actively in the last three years. i think there are a lot of systemic reasons why women and luck and other racial groups are underrepresented in our industry. what we are trying to do is angels, is be visible examples, so that we have more row models of prominent women in the industry. we are hoping to help women take on these key roles, that can create more wealth creation in the industry and ultimately, for most more diverse at it.

emily: you have worked at twitter for so many years. twitter had what may be one of the first tv commercials during the oscars last night. the main twitter account sent out this tweet saying we stand with women around the world to bring them front and center today and every day. here we are. last week also, jack dorsey's debt that he is recommitting twitter to increase the collective health of conversation. this is a company that has struggled with how the conversation in many ways, which has in many ways, then a tool for women's voices to be heard, but also for them to be silenced. do you think twitter can become a nicer place? jessica: i do, and they say that -- i believe that because i know how committed the leadership team is. i was excited to see jack tweet last week. in canada, they were at for partners to help solve these

problems. emily: what is something you learned at twitter that you are integrated in your investment decisions? jessica: twitter was such an incredibly interesting and complex company. i think culture and how you build an early team of a company has a lot of influence. we work with founders in the early stages of hoping a team to -- building their teams, to bring in diverse networks of early employees and co-investors. emily: jessica verrilli, founding partner of #angels. thank you for what you are doing. thank you for joining us. i should not that bloomberg lp produces a global breaking news network for twitter called tictoc. ireland's finance minister has said the government is committed to collecting a massive tax payment from apple. apple and ireland both appealed the eu ruling that adjustment of $1bi to ireland. regulators are demanding that ireland hold the money in

escrow, until the ross is complete. take a listen. >> i am putting in place the right kind of procedures and processes to collect this money and put it into an escrow account. we disagree profoundly with the assessment that the european commission has made in relation to our tax policy. but while we are contesting that in court, we will be meeting the requirements that we have on the other european law -- under european union law. emily: coming up, beijing is encouraging tech firms to bring their listings home. we had to asia, next. this is bloomberg. ♪

emily: tencent's calling on the chinese government to introduce an id system that will link travel documents with a mobile phone as part of a plan to boost regional trade between hong kong and the mainland. and of china's annual national people's congress explained his legislative proposal. >> border controls and different taxation regimes are two of the biggest obstacles of the greater project and the free movement of high skilled workers has yet to happen, because hong kong concerned about the inflow of labor. iduggest the idea of an system, linking hong kong and mainland china, to allow people to cross the border and make a tonic claimants easier. emily: and the risk around blockchain and the cryptocurrency market. listen. technology, but we must be

careful using it. technology is good, but usage is important. ico's for digital currencies mean a lot of. i'm not saying that technology is a mature, but there could be huge issues for regulators. even though cryptocurrencies are now very popular, we have not participated in an ice io. emily: in the meantime, some of the biggest tech firms in china are being warned about the -- being lord by regulators to -- being lured by regulators through a do a listing. tos coincides with an effort neighboring hong kong tyree rework regulations. i am joined by our bloomberg tech's selina wang. also, eater from tokyo. peter, what exactly is the motivation here? peter: the backdrop is interesting. you have the annual national people's congress, this gathering of thousands of delegates from across the

past,y to riyadh in the he would see business leaders, and expressed their support for the administration. and state owned enterprises, and ec technology companies become that she are seeing these technology companies have become the most valuable in the world. baidus like robyn lee of is talking about listing shares in mainland china along with in mainlandies, china and in addition to listings overseas. burnishing of existing parties'reputation of stars home.o lure it also affects tech companies, because valuations in china tend to behind the riyadh emily: talk more about the pros and cons of the structure. >> the chinese stock market doesn't have the best reputation. they have difficult regulations for these companies to comply with. they are known for volatility and also for spontaneous

government interception. so as you mentioned, this would be a good move on the chinese government, to a charge the listings and also great for domestic retail and institutional investors who have not really been able to participate? >> in some of the greatest wealth creation in chinese history. of alibaba, baidu and tencent. ofwould boost the valuations these companies, and retail investors are very excited to get in on this and yet. emily: peter, some folks want a pleased about this. who are they? peter: there is competition for these listings certainly area right now, hong kong is competing to draw more attention. historically, they have not -shares, sohave dual they are competing aggressively for this business. you cannot have do well listings in places like hong kong and

mainland china, or the u.s. and mainland china. emily: selena, there are big tech companies in the pipeline, tencent music, xiaomi, how do we expect those companies in particular to proceed? selina: the changing regulations both in hong kong and mainland going to play a big role in what they ultimately does ride. tencent music entertainment, is considering a dual-list thing. tencent as we know, is already listed in hong kong. stock exchanges will do everything they can to attract: companies, to become the global leaders. hong kong has fallen behind in terms of attracting companies like new york, and they want to get ahead of the game again. emily: peter, any thoughts or how the potential listings could play out this year? peter: it is interesting, the

big prize will be for xiaomi this year to riyadh we have reported that they are leaning toward hong kong for their primary listing area if they were to list and mainland china, they would also tap into that can he were demand and give customers for xiaomi an opportunity to buy into their shares. it can really help their valuation of it, so it will be interesting to see how that lays out. emily: peter and selena, thank you. coming up, from netflix to amazon. how did the streaming giants fair on the biggest night of hollywood? this is bloomberg. ♪

emily: netflix ceo is off to a good start and has seen his wealth rise 47% this year to a record $4.1 billion as of

friday, earning a spot at the bloomberg billionaires index of the five richest people for the first time. richest people for the first time. netflix stock is currently trading at all time high. netflix scored a big win on hollywood's biggest night cometh assuming giants winning an academy award for best documentary for its from, -- for its film, "icarus." ershipas the lowest and oscar history to react 20% lower than they were a year ago, would you make of ratings? >> it is a dramatic falloff. definitely not what we were expecting iliad they were x acting over 30 million in viewership, and this is the lowest since nelson started

reporting -- nielsen started reporting ratings in the 1970's. it is a blow and shows that viewership has been suddenly declining. it shows the gravity of this fall might be worrying to me, which broadcast the show, and is committed to broadcasting it for another several years, up to 2028. not good, and all in all, it was a very political show. there was a lot of commentary to, gender and racial inequality. rapper,, and rapping about the nra being ungodly. it was really a platform for protest, and viewers obviously did not like about. emily: it was a political evening as you said. frances mcdormand's speech stands out to me where he had -- where she had the female nominees stand up. saying, all the zoo and projects

that they want to finance. she's the two words that the end inclusion rider. , what does that mean? anousha: it was one of the high points in the evening, and there was hardly any women standing, so it gives you an idea of from all the women nominated, how few there are in the converse nation, and how much work hollywood has to do to increase gender balance. she ended with those two words, and everyone on twitter was wondering what is that? inclusion rider? what is that? is a solution being bandied about hollywood. it really has not gotten any real traction, until last night. the idea of big a-list actors and people with big targeting our in hollywood, to dictate say, contract terms and to as part of my contract in agreeing to do this, one of my

requirements is that there is equity parity within the casting of the film and the crew. so that there is inclusion and best efforts made toward hiring a diverse, both in gender and race, crew. in many ways, i diverse crew and cast. the question really, is how do you define that? what is going to be a company's best efforts to ensure that hiring? i am told that the push is not really to have a quota but to have a change in hollywood, and it seems that is gaining traction and you are having actors like brie larson come out and say she is going to be committed to have that in her contract. that is something the most powerful women in hollywood can do. emily: and the last question, that likely new head of years en, quick thoughts?

anousha: it has been a huge asic of gossip in hollywood to who will be taking over this world. they have been in a subscriber decline and also the target of president trump's tweets a lot of time. it has also been a that from for political protest with the annealing of players -- with the kneeling of players. he could see a consumer products division that has a troubled patch, but he says he is a big watcher of the network and he has got to take that on, and also a streaming service that disney wants to launch that is going to be important to them. a five dollar a month streaming service. emily: from the heart of the entertainment industry, thank you so much for joining us. that does it for bloomberg technology. check us out on twitter. that is all for now. this is bloomberg. ♪ manus: good morning from

bloomberg's new european headquarters in london. nejra: these are today's top stories. manus: gary cohen is set to some incorporates to the white house. global stocks rally over policy ease. nejra: italy's president faces critical talks before nominating the next prime minister. could the country be on course for fresh elections? the lack of shell assets is not a hurdle to making profits. >> i think t