we have a reporter in davos who got to talk with alibaba. >> alibaba is teaming up with the international committee. for some more insight on this deal that was announced here in davos, i am joined by a man from shanghai sports, a company involved in making this deal happen. so tell me, who was seeking the deal here, alibaba or vice versa? >> jack ms -- ma, regularly attends the meeting, and they had very interesting discussions , saw eye to eye, and that is when the discussions started. we have been advising and helping alibaba on sports related manners in china. this accelerated, and the deal happened with announcing here during the meeting in such a list. reporter: if we take a look at the deal from the standpoint of the ioc, what was the committee looking for when it decided to team up with allie baba? >> if you look at china from a technology and media standpoint, espepecially internet, china is way ahead of other countries in terms of adoption of internet and technology. it is the and alibaba is the biggest in china. jack ma says they are at company that happened to be based in chin

strongup, alibaba, results.ok beyond the bottom line. ♪ rishaad: this is bloomberg markets: asia. the shanghai market opened up a little while ago. let's have a look at what is going on here. we have this backdrop of the inflation rate, arguably, coming back to some extent. 225.e moment, the nikkei, helping things along quiet nicely. the movement it there at 1.5%. data out of us to well. the economy the growth, a little more anemic. the dollar, at the moment, having a check. seeing the yen, a tad bit weaker at the moment. up 130, pretty much where was yesterday. there is a rally at the moment in place. let's get to the open, when it comes to shanghai, and indeed, right here in hong kong. of broad picture first of what is going on in asia. following the u.s. benchmark higher, thanks to the list in producers. up about one quarter of a percent there. on withat is going japan's data, we are seeing the nikkei up 1.4%. somewhat making gains despite growth in the fourth quarter. we have other movement going on in the r

on department store operator news alibaba and others want to take it private. the statement says the deal will happen at 10 hong kong dollars per share which would value the company at $2.5 billion. president-elect donald trump's in-law will be a senior unpaid advisor. jared kushner will work with reince priebus and stephen bannon. he is married to ivanka trump. he is described as an asset and respected advisor. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. let's get a check on the market. afternoon trading getting underway in hong kong and china. hong kong gaining have to present while shanghai is unchanged. jen jen up 3/10 of 1%. this is bloomberg. ♪ caroline: this is "bloomberg technology." jack ma's trump card. can the chairman deliver one million new jobs between heightened tensions between beijing and the president-elect? our exclusive interview with gm ceo ahead. it is her job to make sure tech titans play by the rules. stay tuned for our conversation with the eu competition commissioner. first

alibaba at $7.5 million to its market value. it earned a boost for record single day spinning spring -- spending spree. they raise their revenue growth to 53% up from 48%. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. you are watching bloomberg. let's get a check on the markets. asian markets solidly in the green with a benchmark at the highest level since september of last year. this is bloomberg. ♪ caroline: i'm caroline hyde, this is "bloomberg technology." coming up, the tech earnings parade marches on with alibaba leading the charge. how the bets on content and the cloud is paying off for china's e-commerce giant. plus, new market highs for the s&p and nasdaq. we will break down what stocks are leading the game. and the verizon-yahoo! deal is still in play, but now going into overtime. we will look into potential impacts on the acquisition of -- after verizon's worst performance report since 2014. alibaba shares popping after they purported -- reported better-than

japan and a 50% stake in alibaba. in alibaba.lear what will happen with flickr, tumblr. there is also still a question whether verizon will continue with its purchase of a yahoo! especially after the recent revelation of two major hack attacks in the last few months. verizon has been trying for a cheaper price or even possibly an exit. altaba will become the name of the shell company. the yahoo! brand continues and marissa mayer continues as ceo but we'll just stepped down from the board. a bit convoluted. it will be interesting to see if she sticks around her what she will do next. i want to show you this chart. what we have done is yahoo! versus the nasdaq. there has been a degree of outperformance under marissa mayer but i would argue that actually the outperformance is not due to marissa mayer but due to jack markell -- jack ma. about to say the exact same thing. it is all due to alibaba. if you pull up a news graft for alibaba, you will see it moves the yahoo! shares. the problem is a lot of people would argue that a lot of

sharanjit leyl is in singapore alibaba were aliba ba were sanctioned alibaba were sanctioned in the states vendor is for selling counterfeit goods essentially for the first time. this is after years of accusations by us authorities that it and its online retail platform soled high levels of a fake goods and of course as you mentioned, it is coming shortly after the firm's blacklisted by an industry watchdog in america. it is looking to curb the sale of counterfeit goods. they have set —— suit these two unnamed vendor is for selling fake swarovski watchers and the law slot —— lawsuit claims just watchers and the law slot —— lawsuit claimsjust under watchers and the law slot —— lawsuit claims just under $200,000 in damages. they were found out during a test, by, purchase programme weather watch as they bought were confirmed by swarovski to be fake. more than one onjune 25 counterfeit watches were confiscated. in other news: rex tillerson — the former exxon boss chosen by donald trump for us secretary of state — will receive $180m to cut financial ties with the firm if he gets the job. the pa

japan or alibaba? reporter: that's an interesting question.e had these massive holdings that yahoo! has. about 35% in yahoo! japan, 15% in alibaba. that's the question, how does handled? there are massive tax implications. that is the next step for the company. that is why we saw the big shape with thekeup today board. we don't know yet what is going to have been there. yvonne: bryan womack, we appreciate your perspective. thank you. let's get a check on the market. seems to be hanging on the sentiment in asia. --'s go with the open in so in korea, as well as tokyo. wall street playing the tone for asia, so we did receive the -- see the s&p 500 fall below a record high. this is coming down to the slump in oil prices, which dragged on u.s. stocks. that is weighing on u.s. equities. that is perhaps feeding into the asian session. let's look at how shares opened and tokyo, coming back online after a holiday. first, let's take a look at what's happening. u.s. treasuries climbed, as well as gold overnight. the 116falling below mark. nikkei 225 open

selling on000 brands the alibaba platform.hey might come into direct competition with ebay, which has 10 million sellers. there will be a lot of overlap in that space. they have a lot to do to do the promotions and marketing, to create awareness to make them willing to sell on alibaba. rishaad: how is this playing out? it is seen as important. >> we heard at the end of last year that alibaba was placed on the tory is markets list i the ustr. they were under investigation by the ftc. goodng on double trump's side is essential, because they have so much exposure to the country and also, creating jobs is one of the things donald trump has placed as a top priority. you see jack ma as following a series of entrepreneurs, ,ncluding masayoshi son arranging meetings with donald trump, creating more jobs in the u.s. rishaad: what he has been doing, it was all about clicks. in-time retail is something he wants to privatize, the motivation here? >> they are telling us they are trying to use $19.28 billion in cash offer, and jointly, in h

alibaba leads the charge. how the bets on content and the cloud is paying off for china's e-commerce giant. s&p.t highs for the we will break down what stocks are leading the game. the verizon-yahoo! deal is still in play, but now going into overtime. we will look into potential impacts on the acquisition of the verizon's worst governments report since 2014. alibaba reported better-than-expected quarterly results. the company lifted its yearly sales forecast. ventures are bolstering the giant. dig into the nitty-gritty for us. reporter: it's almost too good to be true. they raised sales forecasts. is thatg interesting the number of active buyers didn't cry too much, less than 10%. a lot of the growth and reasons why investors are pushing up stock is because of the growth and it's more fledgling businesses. thought triple digit growth in the cloud division and media and visual entertainment business. a lot of talk about how that is the next new growth strategy for alibaba and how they are going to integrate all

alibaba will offer online services and data analytics.news, 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. you're watching bloomberg. of marketse check across the asia-pacific, here is juliet. c seems to be the order of the day. some upside coming through from china and japan but elsewhere there has been weakness generally across the asia pac region. the nikkei getting a boost as we did see safe haven assets dumped earlier in the session even though the guinness getting back a little bit against the nikkei. the shanghai composite rallying the most in two weeks after the fourth order gdp data beat estimates coming in at 6.8%. so we've seen some strong upside on that market. hong kong giving back after a pretty good day yesterday. property stocks looking quite good along with energy, crude oil holding at around $81. a little bit of weakness in southeast asia and india not having a great day, off by .4%. we are live from london at the top of the hour here on bloomberg television. this is bloomb

what is the risk factor for alibaba moving forward?orter: they were just too good to be true, how long can this be sustained? one thing hanging over them is the sec probe. that is still ongoing. they are looking into the accounting practices. lots of skepticism. there is the fact they were recently put back onto the list of notorious markets. it is seen as a haven for knockoff goods. for alibaba to execute on their international goals, get 50% of revenue from outside, they have to gain the respect and get the global recognition they need to bring international retailers on to their platform. getting off of that list will be a big deal for them. yvonne: absolutely. a big bet they made when it came was brick and mortar stores. reporter: we didn't get too many more details. they reiterated their goal of re-creating their shopping experience. this is similar to amazon. they have opened brick and mortar stores and physical bookstores. jack ma's vision is how do we go back to brick and mortar business again and make them more innovative with

this could repair alibaba's reputation. last month, the u.s.resentative alibaba back on its notorious markets list for counterfeiting. jack ma seeks to demonstrate that the company is wrapping up its efforts to fix this. here's what he said in davos. leadingve the world's technology fighting against that. we have put 2000 people focused on fighting against that. this is the largest anti-counterfeit team in the world. >> aside from improving its image, alibaba will likely get a cut from merchandise sales and possibly generate some business for its cloud computing business and add on more vendors from this exposure. a channeling into china. betty: thank you so much. sophie kamaruddin on alibaba and the olympics. who would have guessed? that is it from us. cindy more still to come. we heard from rish, up next, several more market opens. of course, the chinese gdp numbers. yvonne: that is in focus as well as janet yellen's speech. all happening in the next hour. right now we are seeing markets a little jittery, not to mention inauguration eve for d

amazon tried retail stores, now alibaba is going in.f the things to pay attention to is the volume -- i usually say pay attention to one thing at a time and certainly do that, but they have done so many deals. 98 acquisitions announced in the last five years. spent $42 billion. 98 deals. lineu click on that yellow , it will illuminate it a little better. size of the deals, and this is the number of deals they are doing every quarter. they are doing so many acquisitions. i'm not saying it is a rollup but it looks like a roll appeared -- roll up. and these are just the deals we know about. there are some that are too small dimension. this overhey had done the course of five years suggests there are a lot of parts of alibaba in the process of integration and those kinds of things can be difficult for company, many companies have fallen from these cuts of acquisitions. cisco is the rare exception. let's get an asian take. peter alstom joining us from tokyo. can you reason with us why they're flashing so much cash in the off-line world? i ca

soaring on news that alibaba and others want to take it private, part of alibaba's decision to integrateith traditional brick-and-mortar stores. the deal will happen at 10 hong kong dollars per share. ntime had been suspended before christmas. itmany warns britain that must adhere to rules on freedom of movement if it wants access to the single market. angela merkel laid out her position as theresa may prepares to launch brexit negotiations. merkel said anything other than compliance with eu rules would have consequences for the remaining states. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. basically we have the world covered. shery: thank you. has hadreflation story left with factory gate prices climbing more than forecast. stephen engle's is here with the latest number, so only four new months and more than four years of factory deflation. what is going on? >> it is inflating now on the back of rising commodity prices, yes, industrial capacity has tightened, yes, the weakening hasr has raised --yuan raised

to china on the alibaba platform. >> alibaba making some deal news.he company said it would be teaming up with the founder of china's in time retail group to take the department store operator private. shares of intime surging on that news in asian trade. up 35%. the move is an effort by alibaba to extend its online presence into physical stores. both firm also pay as much as $2.6 billion to take the hong kong chain private. the deal requires shareholder and court approval. both stocks, though, seem to like this idea it gets into the idea about whether -- you hear talk about retail brick-and-mortar being dead. you hear that amazon is exploring physical retail sales. alibaba also going that way. it reminds me of terry lundgren who said there will have to be a happy medium. >> they're in a more flexible position, amazon and alibaba but not having that huge stock of bricks and mortar stores to pull away from. >>> other corp frorate news, ba of america is said to owe a half billion of unpaid premiums to the fdic. for a five-year period they failed to asse

alibaba will become one of the top olympic partners in 2028.dea is to help it gain exposure to a global audience and promote its cloud computing business am a but it did not come at a cheap rice. the sponsorship is said to be worth $800 million. , whatng this great story did they get for $800 million? >> it is a steep price and it is unprecedented. it's the biggest one the international olympic committee has ever been a part of, but it's worth more than the monetary price alibaba is going to be paying for it. it puts them in the same tear that they brands like coca-cola and samsung are part of. this is important for alibaba to build credibility and to be a global online commerce, to be the cloud provider for a really big event on a global stage. so clearly this fits into their global expansion strategy. how does it help individual businesses? >> jack ma has said over and over they won't have the revenue to come from abroad. ofy need to combat a lot their credibility issues. they've been hit really hard by the counterfeit problem. trust to globa

will be left with a stake in alibaba and yahoo!emands this new name is a combination of two words, alternate in alibaba. verizon has cap that on the deal after second breach of 1 billion yahoo! account revealed last month. lauren: audi unveils an ultra luxury suv. >> i can pretty much been around this block should be a production car. what this is is this is a luxurious now. super high technology and high-performance. lauren: drought stricken california is in its worst flooding in over a decade. janice dean takes another look at another storm out last in freezing temperatures in the east. let's show you stuck in the teachers pointed out. gossage was up six points, s&p said fractionally. your first look at barney american thing breaking news. -- your first look at morning markets and breaking news. sfx: loud poorly played electric guitar that sounds awful but a lot better than last week ♪rock guitar music ♪we weren't born to follow i want my tax software too charge me at the last second. i'm totally fine paying extra for something i

american selling through the alibaba platform to china and asia. we mainly talk about small business and young people and american agricultural products in china and we think the china-u.s. relationship should be strengthened, more friendly. caroline: ma's visit is the latest from a growing list of business leaders eager to work with the president-elect. david westin spoke up woodberry bar.- caught up with barry >> there is a lot of opportunity. we have more in common with the administration than we have at odds. we are looking to strengthen the country, strengthen business performances. we are a big provider of jobs. 1000 -- 100,000 good-paying jobs and we are looking for reform, regulatory streamlining. these are all things that are going to improve our business. >> so there is opportunity for you? >> i believe there is. people need to understand this is a very complex business with long lead times in a product that is build in michigan. those were decisions made a few years ago. we need to understand how investment is made, but look for the oppo

alibaba by letting american small businesses sell their wares on alibaba could generate a million jobsr five years. here's the president-elect and jack ma. >> we had a great meeting. it's jobs. you just saw what happened with fiat where they're going to build a massive plant in the united states in michigan and we're very happy. and jack and i are going to do some great things. >> small business. >> small business. >> focus on small business. >> thank you. >> thank you so much. >> now the president-elect also met with and appeared before cameras with bernard arneau, the chief executive of the luxury goods dealer lvmh. he talked about potentially adding a new factory perhaps in north carolina, also adding jobs. and finally the news broke this afternoon from our come league, peter alexander, of nbc that the president-elect is going to make his son-in-law, jared kushner, a senior advisor within the white house. that would make him the most powerful relative of a president since bobby kennedy was attorney general for his brother john f. kennedy in the 1960s. jared kushner as donald trump w

alibaba trades in the u.s.t $246 billion in market value and tencent is behind them. differences than 2% between the companies. they have been sending the pace in the china internet space. we will see more about that in the earnings later on today. ma'sad: what about jack ability to create a million jobs in the u.s.? >> that led to a lot of skepticism when it came out. themeporter interviewed and they said they will fan out with sales people in trade get more small businesses to sign up to create these jobs and then do business with china. despite this talk of a trade war. rishaad: great talking to you. peter alstom on alibaba. we will look at the brexit ruling in the u.k. and what it may mean for prime minister theresa may's overall strategy. ♪\ >> i have the first word headlines. samsung received strong quarterly results. the profitable to almost $6 billion due to rising prices for memory chips. the samsung empire was not too badly burned by the overheating note 7 smartphone fiaco. president trump says he wil

on the agenda, reportedly, alibaba's u.s.nsion and commitment to create 1 million new jobs in five years. there are apparently no plans to discuss taiwan or the u.s./china relationship. 1.5 million? unclear if they're using a multiplier in there or not, jon. >> yeah, the math can get fuzzy when companies talk about this. i'm reminded of apple talking about the impact of the app store on the economy. they're taking credits for jobs created when people were able to create apps that weren't previously available. it seems like alibaba's doing something like this, talking about the economic impact of opening up these easier trade and transaction possibilities with china. >> yeah. by the way, senate majority leader mcconnell making some comments. we'll get those to you in the next couple minutes. it is a big week in washington as trump's cabinet confirmation hearings get under way. republicans have set at least nine for the week. eamon javers, i saw a photo of some beds, some cots being rolled into the senate. it's going to be that

but the overarching themes alibaba is benefitting from are still there.uestion is to what degree they will benefit. whether that's just all around consumption or, you know, kind of the merging of online and offline commerce. >> we saw so many retailers here separate the expense of amazon -- i know alibaba isn't a perfect corollary for amazon in china, but are there retailers that have been trying to build up that will suffer as alibaba gains traction? >> it is more just generally offline needing to evolve. if you walk into a department store today, it looks fairly similar to what it did 20 years ago. it is not -- there's no -- there's not a lot of exclusive products. not a real reason to be in there and consume in there. what you have is a new generation of brands with a more direct to consumer relationship that are able to outcompete. >> if you had to pit besos against ma, being entrepreneurial in scale, who would win? >> they both win. are you kidding? these are two incredible entrepreneurs who built gigantic businesses. hypercompetitive, both wanting t

are these initiatives and measures by alibaba sufficient?e sufficient? there are still a lot of fake goods sold on their online marketplace. this isn't going to be easy but they are addressing this slowly and then they will help them improve the image to the international audience. in other business news, the road to brexit is proving to be a bumpy one for the uk prime minister theresa may. in a landmark case, the uk supreme court has delivered a ruling against the government on the way in which the uk is to leave the eu. the highest court in the land says the prime minister must get the authority of parliament before she can trigger article 50. but ministers have insisted there will be no delay. japanese exports rising for the first time in december for more than a year, data shows gaining 5.4% from the previous year, up for the first time in 15 months and this is mainly due to a pickup in global demand and the effects of a weaker yen the dollar. us president trump e is pressing home his policies by meeting with the heads of the big three u

but for those who feel they can alibaba. but for those who feel they ca n afford alibaba. afford to tear themselves away from domestic troubles, the world economic forum will be awash with ideas and debate as to whether ever freer trade is now a certainty. tanya beckett, bbc news, davos. well, it is a big day for speeches because later today the uk prime minister theresa may is expected to speu minister theresa may is expected to spell out what kind of brexit deal she once and says the uk will not retain partial membership of the eu when it leaves. us president—elect donald trump says his promise to negotiate an early trade deal between america and the uk could strengthen mrs may's can. our political editor reports on what we can expect based on the evidence so far. brexit means brexit. what is that? brexit means brexit. what is that? brexit means brexit. and in case you hadn't heard. brexit means brexit. i'd ignore the platitudes, the big decisions have been clear since june. decisions have been clear since june. -- but ignore. there is no mandate for a deal that involves

a shareholder in all about the -- alibaba. by more than 2600 journalists and analysts in more than 120 countries, you can find more stories on the bloomberg. let's get the life market action . a pretty mixed picture in asia. juliette: it is. importantly, the regional index is tracking above -- in the black. tracking higher, mainly due to the game we have seen coming through on the hong kong index. it is at a one-month high. of mainland inflows coming through into the hong kong retail stocks, looking incredibly strong today. up 6/10 of 1%. the ppi number coming through today, not too much of an impact in equity markets, but you have seen a little failing in the latter part of trade. a stronger yen weighing on the the 115 to the dollar, that has sent weakness coming through in the japanese equity markets, which were closed yesterday for a public holiday. atying catch-up in closing 110 -- 18 of a percent. -- 1/8 of a percent. noting, that is the first loss for the australian share market this year. this positive movement you are

alibaba still has not done quite enough. type of listing really will hurt their ability to work with overseas sellers and brands to list on their website. given how alibaba is wanting to expand overseas, that is crucial. looking ahead, take note in india. on highe minister's ban for bills might not have had the desired effect. next, we talked to one of wall street's top economists comeau ranked just behind warren buffett as the best market forecaster. ♪ betty: this is daybreak asia. i'm betty liu in new york. shery: i'm shery ahn in hong kong. we have seen the dollar was just dragged down by those fed minutes. that is affecting currencies across asia. let's get a check of how markets are shaping up. i think it really highlights how quickly markets can change. thatrt of reminds you happened a few days back. when you did not have a big dollar move overnight, that quickly was reversed. we are seeing a lot of dollar strength coming through -- dollar weakness, rather. a big spike here. we're still trying to understand what is hap

i have used alibaba.t's another way to disenfranchise stuff in america because they make it so cheap over there. >> this css cloud over its head. people question how they do their accounting. people questioning whether or not they're adhering to nyse exchange listings. does that now go away? >> well, attorney involved with alibaba is going to be head of the css. it will be interesting. >> if you're an investor in alibaba you're saying, okay, that's one less. >> i don't think this is forget the fact that jack ma walks in representing alibaba. jack ma i think part of jim's point is he represents china. >> yes. >> it's -- >> he was talking about the selling -- >> it's a sign and symbol more than anything else. >> why? >> not so much food but food itself back to china through small businesses in the united states. so just like hart land is, that started out as small business within the united states. sort of a co-op. and then they begin selling across the country. same sort of proposition mr. ma is proposing

alibaba makes a big bet on bricks and mortar.see an opportunity retailers they have invested in. michael: this is bloomberg. ♪ ♪ michael: this is "bloomberg best." i am michael mckee. let's continue our global tour of the week's top business stories. may isu.k. where theresa preparg to negotiate britain's exit from the european union. this week, anticipation of a so-called hard brexit appear to have an impact on the pound. >> theresa may has signaled that immigration is one of the priorities in the brexit negotiation. u.k. prime minister said quote -- we will be able to have control of our borders and our -- but we dowant not want that to affect great britain businesses to trade with the e.u. >> the sterling is looking really negative this morning. it has kind of been a double low in the past couple of weeks since the recovery from the flash crash. we are seeing the bloomberg count in texas also breaking its clean, nice, upward trend since the flash crash. there is a lot of dollars uncertainty. it is looking quite bad after may's

so alibaba, the ipo, was a vie structured ipo. i was wondering, how many chinese companies are listed on u.s. exchanges using the vie structure, and do you have a sense of the market capitalization. and what's your sense of the risk involved if some judge or someone in the chinese system says this vie structure is illegal, then what if you're an investor in alibaba or other companies that are vie structured? >> yeah. i got the question. i haven't done a calculation lately of how many companies use it. but last time i did, it was over half. and i think it is probably majority now use the vie structure. which controls companies through contracts instead of through ownership. contracts are an interior form of ownership compared to owning stock in these. there have been a number of cases where shareholders have been ripped off where the vie has been taken by the chinese pern who owns the operations just says i'm not going to follow the contracts. and one case made it all the way to china supreme court and found contracts were invalid.

virtual storefronts on alibaba's site. coach closed its store last year. yahoo!hange its name to altaba once it sells its core internet business to verizon, a combination of alternate and alibaba as the company's remaining assets include a large stake in the chinese firm. ceo marissa mayer will step down from the board and expected to move to verizon and that nearly $5 billion deal could be in doubt after yahoo! disclosed two giant data breaches last year. >>> and it's getting more expensive to raise a child. a report by the usda finds married middle income parents will spend more than $233,000 to raise a child from infancy to adulthood. child care and education account for a bigger piece of the pie. while costs of housing and feeding children are shrinking. the estimates don't include saving for college. back over to you. >> you know who loves hearing that, this guy who has a baby coming in march. >> congratulations. >> just what he wants to hear. >> save up. >> set me back a few hundred thousand dollars. >> sorry. welcome back. >> thanks. >> all right. cnbc's l

trade representative's office put this list, marketplace on its not a list alibaba wants to be on.ple ask me when china will get serious on intellectual property rights. be when china has its rights stolen, and in this case alibaba's reputational damage is at stake, so that is why they are taking this seriously. rishaad: how much has its reputation been affected? are seeking $200 million in damages. wantis what they say they to do. they are trying to expand into overseas markets, obviously the united states, where amazon, ebay and others are competitors. reputation is key to get credibility. august, theince year to august, they have taken down 380 million product listings and closed 80,000 stores in those 12 months through august, but the u.s. chamber of commerce says counterfeiting is huge business in china, and that is the problem. local governments often turn a blind eye to it because it implies a lot of people. it brings and 12% of china's exports. knock offs are still big business in china, still. rishaad: what is the most blatant knockoff you have seen? i don't have an image

alibaba has a large part of its business tight the u.s. giving a strong incentive. from devils,m switzerland discusses competition and why he is not worried. ♪ caroline: a lawsuit against oracle america alleging pay discrimination. they pay caucasian male workers more than their counterparts. a spokeswoman for oracle said the complaint is politically motivated based on false allegations. oracle values diversity and inclusion. now to an oracle competitor. it is been a challenging few months. they have slowed growth but the company has seen a strong start to 2017. the forecasting sales will jump 21%. bloomberg, marc benioff discussed the growth of the company and its competition. >> we had to do what we were doing from the beginning. help them connect with their customers in a new way. that is why so many companies here, using salesforce. there is this sea change going on. topanies are working hard develop that customer intimacy. >> you have a lot of competition. i think it is the size of delaware. other you compete with and to what you invented. great customer of our

overall, strong numbers for alibaba.e continues to be a fairly large, short position in the stock from those who believe the numbers are inflated. we sat down and had long conversations with vice chairman of the company about that. overall, a strong quarter for the company. increase in revenue guidance. mobile certainly very important for them. overall usage of the platform, not just for purchases, but other engagement, also increasing. and still largely domestic story for china. they have come here, jack ma famously met with the president-elect few weeks back, talking about how he could empower u.s. small businesses to use the platform to sell to chinese consumers. there's a look at the handshake that took place in the lobby of trump tower a couple weeks back. to ever al over all, a domestic platform for a domestic chinese consumers and the growth there, very strong. >> analysts like it. 91%. they capitulated as the price went back up. the target is $120. also, jack ma was in davos last week, part of the delegation of c

when you look the aall the meetings that you have had with carrier, soft bank, and alibaba do you conceive of making this a program, maybe inside of commerce, and how soon will we see the program on capital reparition and corporate tax cuts. >> people said, well, that's only one company. like we did a good job with carrier, and i want to thank united technologies which owns carrier, but we saved close to 1,000 jobs, and they were gone. mike pence and his staff really helped us a lot. those were -- that was a tough one because they announced a year and a half before that they

he is the ceo and chairman of alibaba, the big chinese concern. he has had to walk a tightrope here between authorities in china who really don't necessarily take too kindly that sort of free internet that he espouses here, talking a tightrope with regulators there and trade representatives here, thinks that alibaba sell as lot of counterfeit goods. he argued opposite. he forge ad a pretty good relationship with the president-elect you could say because of the chilly relationship he has had with the obama administration as a result of these investigations into counterfeit goods and rest, which by the way i stress have not been proven but he committed one million u.s. manufacturing jobs. this is apart from softbank, asian conglomerate committing itself to 50,000 u.s. jobs as part of a $50 billion industry consortium includes likes of apple, others pitching in a billion to make a go of it and commit those jobs in the next few years. swiss american craig smith, former ubs chair, robert wolf, robert end with you, begin with you, donald trump to accomp

alibaba is subsidiary focussing on healthcare. muscling subsidiary focussing on healthcare. alibaba is muscling in on the global payments industry. they are buying it for $880 million. that is part of the on line payment industry. that gives it a foothold in the multi billion dollar global remittances sector. toshiba will reveal how much ofa sector. toshiba will reveal how much of a multimillion dollar charge it will stake on its new american business. it has been reported that the hold in westinghouse nuclear enterprise could be as big as $6 billion to raise money for a spin—off. this is the core moneymaking unit. microsoft reported its results, 3.5% rise in profits. that is due to be —— the cloud. they have moved towards cloud services and mobile acquisitions away from its software business. us president donald trump the british prime minister theresa may to the white house later this friday. she will be the first foreign minister to meet with donald trump since he took office last week. they are expected to discuss a potential

if you think about it, a lot of them are likely already doing the selling to alibaba.0 brands that are selling on their platform. they might come into direct competition with ebay. it is -- there is going to be a lot of overlap in that space. is making a big that on bricks and mortar. they are leading the charge to buy out a retail chain. it would add to their versioning hold on physical retail. hold on physical retail. >> they see an opportunity here with a couple of retailers they have invested in to try and bring in some of their know-how and customer experience and on the retailbear segment that has not been operating so well. the chinese economy is not -- is slowing of it. the chinese government is trying to ship to a more consumer driven economy. so, there is more of a direction here to cater to consumers and give them more choice than they might typically see in a u.s. retail space. >> they are selling $4.1 billion in assets in two deals. their many moves to try in ease the debt burden. is it all about the debt load? >> they have announced about $2 trillion wort

great as a partner is sold by matt worked on the ipo alibaba in 2014. keeping a keen eye on shares of tesla. the stock down 2% in extended trading. the carmaker said it did mrs. sales goal last year. it then production problems. the sealed the rest of the market is doing this wednesday morning. second trading day of the new year. dow futures are higher by 30.2 we still have 120 left to go. some of the headline at is today's edition of "the wall street journal." corporate earnings this year expected to send stop prices higher. donald trump's election also coincides with the improvement in corporate america's returned to earnings growth. fidelity embracing would've once avoided. exchange traded funds. abigail johnson has resisted et because of the potential cost of that profit the changes in the industry have forced her to rethink that strategy. finally, companies suffer when they ignore their older employees. that is according to a news daddy at workplaces that are less friendly to the older workers are at their engagement track as became less dedicated,

baidu, alibaba, tencent.are at a definite internet assigned -- internecine war level and it is hard to do business in china is you are chinese without doing business as one of these three. it looks like russia, they have to play by the rules and if they do, they get national protection from u.s. companies. we have a lot of companies going up and down very fast. the exciting thing about 17 is there's a backlog of these companies waiting for an ipo. in the chinese case, there's a down draft of chinese companies that may be responsible for delaying the story for two years. we started hearing about it in 2015 and now, the time might be right. 2017 is very promising and there are so many illiquid investments that people have been waiting for these companies to go ipo. we saw it happen in the late 2000 and i hope we have and -- another wave coming right now. caroline: a lot to be reporting on. give us a reason that the timing is important. they are not swimming that 30 in best pretty in china right now. guest: this

that was alibaba's jack ma.xecutive will not join the board of the newly created holding company once it has killed with verizon completely. —— made a deal. they are creating a new company to handle its purchase of yahoo e—mail, websites, and advertising tools. new figures suggest the association of southeast asian nations is making an increasingly important contribution to the global economy. this year, it is estimated the combined economies of their ten members will be worth 2.6 trillion us dollars, which makes it bigger than india, the uk, and france. also, it makes more than twice as much as australia's economy. i asked what is driving this economic growth and will it continue? what we have seen for many yea rs continue? what we have seen for many years is that the asean region has been growing strongly. but it has been growing strongly. but it has been below investors' radar because until ten years ago, it was less than1 until ten years ago, it was less than 1 trillion. in the last decade we have seen pheno

>> i think alibaba has big plans for the u.s. and i think it's an opportunity for him to start at the top and begin that relationship he has been eyeing for a while. trish: he needs a good relationship with the president of the united states. >> i think it has a lot to do with sending a signal to china. i think jack ma's relationship with china is every bit as affected by the dynamic with trump as well. gary: what signal are they trying to send? >> i think accommodation, relationship, working together. there isn't going to be an adversarial piece. particularly given trump's relationship with the traditional silicon valley. it showed an indication was looking to be in a different footing. gary: the president-elect has talked about china taking advantage of the united states, this election was in many parts about getting back at china. are you optimistic that china as it affects the business world that we are on a better course than we would have been? >> i think a lot of it has to do with where was the rhetoric during the campaign

alibaba makes a big bet on bricks and mortar.ereey see an opportunity with intel and the others that they have invested in. michael: this is bloomberg. ♪ this is "bloomberg best." i michael mckee. let's continue our global tour tophe week's topped it -- business stories. theresa may is getting ready to negotiate the british exit from the european union. and anticipation of the so-called hard brexit appeared to have an impact on the pound. >> theresa may has signaled the beginning of control in immigration of lawmaking, leaving the single markets. the prime minister said that she would be able to have control of the borders and laws, but they want the best possible deals for u.k. companies to trade within the eu. i want to go straight to the bloomberg this morning. >> it's looking with a negative technically. as the cable broke support, it had been a double low in the last couple of weeks since the recovery after the flash crash. not only that, the pound index was also breaking its clean, nice, upward trend, which was even more ne

that is not alibaba?l, i think it might simply because they have got to be prepared in case the deal does happen. i do think the deal is probably going to happen. i think it will probably happen at a lower price. if i were verizon i would be arguing for it. but i think generally they expect some kind of deal to happen, but even if they were uncertain, i think they would've had to do this. i wanted to chime in on the prospects for alibaba. yesterday, jack ma was with donald trump. this company is lead by an extraordinarily savvy leader who continues to do smart things. i think that is indicative of what the general public, and particularly the incoming president, thinks about alibaba, that he thinks it's important enough to get together with this leader. yes, alibaba is going to continue to thrive. alix: the rest is what happens to the marissa mayer. where my cheek of next? david, you brought it up earlier -- what you think? commentss made cryptic about staying with the company to its next phase, in other

the meeting grabbing lie ann's share of attention, alibaba ceo, jack ma.e has close to a billion users to. will more purchases be made in america? he was there when jack ma opened a a window what kind ofporter: . talked to mr. ma about u.s. agriculture and connecting companies and farmers to 300 million middle last chinese customers, which his company, which is a giant chinese internet company has access to. he talked specifically, about wines and fruits that come from the midwestern part of the united states. so quite specific in his commentary was mr. ma. the president-elect joined him in the trump tower behind me. joining me more big picture. he added this. >> you just saw what happened with fiat where they will build a massive plant in the united states in michigan and we're very happy and jack and i are going to do some great of lvmh, the large european company behind louis vuitton and other well-known brands here as well today. when we speak of business leaders, there was one business leader made news for different reasons today, that would be jared