alibaba has an arrangement with vodafone germany.become key to alibaba cloud success out of china. the company has pulled back in the u.s. as trade tensions have escalated under president trump. coming up, tech earnings and season around the corner. what to expect from netflix, alphabet, facebook, and more, next. could it be the end of groupon as a standalone company, and what tech giants are interested in taking it in? we will discuss later this hour. ♪ emily: the tech earnings season is around the corner with netflix and due out july 16. the company is on a roll and investors have high hopes it will continue its successful performance. guestsjoined by our next to discuss. netflix have had a breakthrough year. at&t wantsout how hbo to be more like netflix, but can the success of netflix and its trajectory continue? >> they are on this trajectory of growth at all costs. investors are willing to give them a break. this is the same playbook out of amazon when it was growing its business, spend, spend, spend, and gain as much market sha

china censors hub, of course, e—commerce giant alibaba.a, and search engines, including twitter and google. the news sent shares in chinese companies which have business dealings with facebook searching on the shanghai stock exchange. some are up a maximum 10% intradaytrading session. zimbabwe holds elections in less than a week's time and the economy is very much in focus. the country is rich in natural resources including lithium. demand for the commodity has soared recently, because it's a crucial component in the rechargeable batteries used in electric vehicles. can this help kick start the zimbabwean economy? vivienne nunis has been finding out. this part zimbabwe just outside the capital harare used to be known for its rich soil, but dig a bit deeper and you'll find something that could prove far more valuable. one of the world's largest deposits of lithium. it's the first big lithium development in africa within the current lithium boom. it's going to create about 150 to $160 million of income a year, which is critical, and create 2

it is going to be potentially the world's largest ipo since alibaba for a firm with let's face it norecognition and what some might call a fairly steady but dull sort of business, so is it going to attract investment from investors ? going to attract investment from investors? we have been seeing on the institutional side quite decent interest. on the retail side however it has been dull. you need to understand the industry. you need to understand the industry. you need to understand why you need these towers. it is really for the speed and the network coverage that we demand today. if you look at the market, consumers, they want quicker speeds, they want better network coverage and you need these towers. in other news, caterpillar says it has bumped up the full year forecast after reporting record second—quarter profits. it is important to watch. these results can shed light on how a us trade ta riffs can shed light on how a us trade tariffs are affecting american companies. earlier, the company which makes construction and earthmoving equipment, increased its prices to offset risin

i would argue, look at tencent and alibaba and baidu. are the company's xiaomi will compete against because if they want to get their profit from advertising, they have to compete against tencent. tencent is in every chinese persons hand with we chat and xiaomi wants to do that, as well. and they believe the ecosystem gives them the edge. people are skeptical. does that give insight into user behavior to sell ads? that's what people need to ask. the other side of the internet business is, they do have a gaming business. that competes with tencent. can they compete against tencent, baidu, alibaba, even all these other internet companies in china? if you believe they can, maybe xiaomi is a good company. if you believe they will struggle, you should be skeptical. haidi: this is a company that has a reasonable arsenal. is it enough to how much it spends on r&d? tim: you know what, this is a really tough one, especially with the global trade war going on. xiaomi does leverage a lot of the technology developed by outside companies. their chips

is they investment, in a city where aliba ba is headquartered. they investment, in a city where alibabas headquartered. they say they want to create an innovation hub. they say it is a hub to support chinese developers and innovators. there seems to be a little bit of a precarious situation because the registration that they had was removed from the website, from the chinese government website. it would be the first formal presence they have had since the website was blocked in 2009 and they, like an number of big giants, have been blocked, so twitter, youtube, they are blocked, what's out since last year was blocked in the run—up to the big government run—up at the time, so they are trying to get into the market they have been wanting to get into for some time. so it might be unblocked sooner rather than later. other tech giants have been making investments in the mainland. yes, google opened a lab in china not long ago and they also have been trying to work with the chinese government to get greater access. we have seen similar moves from apple. they have modified some of the apps to

a couple of top picks are all facebook and alibaba it is up less than 20% in 12 months which makes it a lagger among big tech companies why is that a big pick for you, where do these companies fit in the overall narrative you see playing out. >> yeah, so alibaba consolidated recently last year was up roughly 100%, it is consolidating gains. concerns around china with tariffs, doesn't effect it that much, but it is a concern. you have seen some devaluation recently of the chinese currency, 6% of the last few months that's weighing on the stock overall, look at the company growing 40% on core retail business, trading 17 times core earnings we think that's too cheap. have a $300 target strong buyers at these levels of alibaba. >> dan, i was asking mike what he thinks investors need to hear from big cap tech this earnings season i'm curious what you think alphabet investors specifically are going to want to hear from that company, what's going to move that stock. does it have to do with detail on cloud we started to get first detail with the $2 billion annual run rate, or does it have mor

a delay could help alibaba back a mogul -- a local market leader. warnings are picking up in the public and private sector. hackers attempting to interfere once again in a 2018 midterm election. we will speak to the ceo of cloud player about what they are doing to prevent breaches, next. this is bloomberg. ♪ emily: this is "bloomberg technology." rodty attorney general rosenstein spoke at the aspen security forum in colorado and continued to warn that the u.s. faces a tax -- cyber attacks russia and beyond. >> advancing technology will allow adversaries to create propaganda in new and unpredictable ways. exposing schemes to the public is an important way to neutralize them. the american people have a right to know if foreign governments are targeting them with propaganda. emily: meantime, cyber security is offering ae free service called the atheneum leading up to the election. we are joined by the ceo. how does your technology work? >> big companies pay us billions of dollars to help protect their networks, and our entire company, which was started

we discussed what it means for chinese tech companies like alibaba. we talked to the man leading uber's battle on the heels of the deal operating in london. uber's chief legal officer joins us ahead. the u.s. supreme court upholds president trump's travel ban, giving him a legal and political victory on a controversy that has defined his presidency. we will hear from a tech leader speaking out against his decision. to our top story, the white house is moving forward with lands to limit chinese tech investments. they previously reported the president is looking a congress to strengthen -- to keep companies from stealing u.s. intellectual property. treasury secretary hailed the move when talking to reporters on wednesday. >> the economic team recommended to the president that when legislation passes we will have the technology. emily: we discuss with a senior reporter who covers the chinese tech scene, and managing partner at a venture fund that has invested over $1 billion in the last three years. >> donald trump is going to rely on congress, and the l

his clients in the alibaba as well as tencent.on't want to be a two later, to not bea tough eight your leader for amazon's earnings here. the only thing they sort of missed is revenue. is that a concern? stephen: not necessarily. but there was not the growth in international that we were expecting. they saw plus 27. that is not what you were expecting from revenue share. think that is the first word challenge i've heard all day. in terms of asia, what are the challenges you see first and foremost? stephen: the china market. amazon has a 1% share in the e-commerce world. % of theand jb own 70 market share. a lot of brands, particularly luxury brands don't want to do business with amazon. but to get in the china market they have to do business with t-mobile and jd. is, living ing china, when i was working with colleagues, the user experience with amazon is not compared to the othersn get with paired it is not the great experience you would like to get that you get from the other platforms. ramy: that begs the question why. the amazo

potential buyers might include alibaba, which took a 6% stake two years ago.arkets are trading. they are pointing to mixed pictures when it comes to equities. nikkei 225 is up 9/10 of 1%. we lost a little momentum in telco -- tokyo. kospi is flat at the moment, despite we saw talks in pyongyang with mike pompeo. optimism has fizzled out. looking ahead, it will be about xiaomi and but it does with the hong kong market. ramy: let's check asian futures. we are seeing a mixed picture. .ook at the index down more than 2%. taiex futures are in a green. looking at kuala lumpur, up 2/10 of 1%. that is it for now. continuess coverage with rishaad and haidi. standby for bloomberg markets. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challeng

a delay could help alibaba back a mogul -- a local market leader.arnings are picking up in the public and private sector. hackers attempting to interfere once again in a 2018 midterm election. we will speak to the ceo of cloud player about what they are doing to prevent breaches, next. this is bloomberg. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. emily: this is "bloomberg technology." deputy attorney general rod rosenstein spoke at the aspen security forum in colorado and continued to warn that the u.s. faces cyber attacks from russia and beyond. >> advancing technology will allow adversaries to create propaganda in new and unpredictable ways. exposing schemes to t

we discussed what it means for chinese tech companies like alibaba. plus, we talked to the man leading uber's legal battle on the heels of the deal operating in london. 20 west, over -- uber's chief legal officer joins us, ahead. and the u.s. supreme court upholds president trump's travel ban, giving him a legal and political victory on a controversy that has defined his presidency. we will hear from a tech leader speaking out against the decision. airbnb. but first to our top story, the white house is moving forward with plans to limit chinese tech investments. but, in a less confrontational manner than previously reported. the president is looking to congress to keep companies from stealing u.s. intellectual property. treasury secretary steven mnuchin hailed the move when talking to reporters on wednesday. >> the economic team recommended to the president when legislation passes we will have the necessary tools to protect technology. whether that is china or anyone else. emily: we discuss with a senior reporter who covers the chinese tech scene, and

they're growing sails 30% a year they're behind alibaba opinion google just invested $550 million inmpany at $40 a share. it's trading below that here i think this is a good catch you look at it technically, it's bounced off 35, 36, i think that's probably the opportunity to really jump in, but i like this story here. >> can we put up that -- i have a question for carter on his dead fish. >> i like dan's green fish by the way. >> i think jd is always at loggerheads with baba, and i think they're doing everything they can do to push jd around fp. >> in loggerheads with walmart who's an investor with jd and google think about two guys who want to compete with alibaba locally >> it what's walmart did with flip cart. i don't think they're going to do anything in global markets. >> fxi was carter's redfish, you made a comparison between the chinese internet stocks. they're state owned enterprises. >> some of the biggest money trade stocks in groups we know that, that's the way -- >> it doesn't matter that a lot of these stocks are not in the fxi? >> that's the issue. look at the casino st

what about alibaba? steve: we own alibaba as well. the interesting thing about alibaba is that it's possible at some point in the future, 50% of retail sales in china will be online. and that's alibaba. alibaba retellhe story is even better than the amazon story in the united states. looking at chinese tech stocks more broadly, you have any other calls in terms of the tech story in china? story in the tech china seems to concern the u.s. president. i have no other stories in china other than alibaba. we're going to go to washington in a moment and get an update. forget about gdp. for your student of what going on in washington? steve: i focus on every single day as part of my job. steve: people can talk about the good and the bad of president trump but the fact i focus on ee day as part of my job. tom: how does it affect investment? is, economic growth has accelerated. there's no indication that it's going to slow anytime soon. we could argue about the policies and argue about them all the time. but the market is very unidimensional i

that is where alibaba's stock is trading. will get chance to validate the $46 million added to its market value since their blowout earnings report in april. a question hanging over netflix's second-quarter results is whether it added enough make investors happy. that is the latest bloomberg flat -- bloomberg business flash. coming up, we are following stocks. we are less than 35 minutes away from the end of the session. is your function. ♪ . mark: 11:00 a.m. in new york at 11:00 p.m. in hong kong. from european headquarters, i am mark barton. vonnie: from new york, i am vonnie quinn and this is the european close on bloomberg markets. vonnie: the fed releasing its monetary report. >> the fed is feeling very good about the economy. another signal in that direction and very comfortable with the current path of interest rates. fomc willfurther -- offer further gradual increases in the target rate of the federal funds rate, in line with a very strong labor market. inflation at the fed 2% target. very positive things we find

alibaba will spend $433 million trying to win over customers from a rival.l is to control over half of the chinese food delivery market the rival currently has a 51% market share. they are said to be seeking 200 billion dollars in funding to bankroll this battle, considered the world's biggest -- third-biggest startup. they are said to be starting an ipo this year. still ahead, spotify successfully fends off competition for now how the music streaming company is keeping apple and amazon at bay. this is bloomberg. ♪ emily: caribbean the received a big slow. a city council required the company to hand over the addresses of its hosts. according to officials, this information is needed to police hosts. they say the legislation could potentially cut growth. aaron b&b has said the bill is in violation of user privacy, as it prepares for its $140 million in bookings to drop by at least .alf the new company was gaining more subscribers next to customers in latin america and emerging-market. this eased concerns that competition from apple and amazon. growth. spotify

it seems like alibaba and tencent have been refocusing a lot of their attentions to the chinese market, southeast asia. >> i think companies that already bought properties in the -- i think they are committed to the global expansion. at the end of the day, for a chinese company to grow beyond their domestic market, u.s. is a very important market to them, for their globalization strategy. i think the entry point has been shrinking a little bit over the last few years. selina: one key concern of lawmakers is the intellectual property theft, forced transfer of technologies. when you are helping u.s. companies expand into china come have you ever come across those issues? >> not very much. i think for startups, they are in a situation where they want to sell their technology as many ways as they can. because they are still very small, it doesn't come up on the great -- the government radar very quickly. it's only when they become large public companies that it becomes an issue. anlina: using plenti as example, u.s. based, have a lot of ip to protect -- they are looking at china as one of

the listed as we said, ten cent by alibaba still holding strong these types of businesses are built foranding at a pace by a lot of investors, so i think that the chinese stocks are indicative of the trade war. >> we'll have to see what those effects are, especially if we get to the 500 billion plus level. thanks >> president has landed in kansas city. we're going to watch that as he makes his way to speak at the vfw annual national convention bring you headlines from that. over to scott wapner and the half. >>> our top trade this how, the big breakout with the nasdaq surging. tech prime to lead stocks to new highs? here to debate, joe, jim, jon and also with us today from florida is leon cooperman, the chairman and ceo of omeg omega advisers we want to begin with the markets. all three of the major averages higher big stock story of the day lee, i want to begin with you. a perfect day to have you.

alibaba will spend $433 million trying to win over customers from a rival.oal is to control over half of the chinese food delivery market. they currently have a 51% market share. they are said to be seeking 200 billion dollars in funding to bankroll this battle, considered the world's third-biggest startup. they are said to be starting an ipo this year. they will target a $60 billion valuation. still ahead, spotify successfully fends off competition for now how the music streaming company is keeping apple and amazon at bay. this is bloomberg. ♪ emily: a city council required the company to hand over the addresses of its hosts. according to officials, this information is needed to police airbnb host that may be driving up neighborhood rent. they say the legislation could potentially cut airbnb's bookings and half, raising questions about growth and a crackdown. airbnb has said the bill is in violation of user privacy, as it prepares for its $140 million in bookings to drop by at least half when the legislation goes in fact in january. spotify seems to be over

. >>> and starbucks reportedly teaming up with alibaba.hain set to link up with alibaba's food delivery unit to offer snack and coffee delivery in china. the deal is set to be announced later this week. >> jackie, see you in a bit. >>> there are two things to focus on in the stock market one is the outcome of the f.a.n.g. stocks. nasdaq is down 1%. facebook lost over to% number two is our fed and the global central banks let's bring in jeffrey kleintop from charles schwab. good morning things were going so well. four or five stocks were over half the s&p weighting everybody bought them. there was no problem now two of them are down 20% are you and your team starting to get nervous about the fate of the f.a.n.g.s? >> no. this reminds everybody why it's so important to be diversified that's a hard story to tell for years. it's coming back to reality. even in the tech sector there are opportunities. we like more the business spending, the capex side the consumer side is where the action has been lately we like this theme it's durable moving i

such as alibaba and foxconn. ceo speaking to bloomberg. >> it is 7:00 a.m. in hong kong.e to "daybreak asia." the top stories this tuesday, asia-pacific markets looks set for a lower open after tech let most u.s. stocks down. netflix, one of the big losers on wall street to my shares plunging after the bell as earnings and sales growth missed expectations. ramy: from bloomberg's global headquarters, i am ramy inocencio in new york, where it is just past 7:00 p.m. on monday. blackrock's larry fink says tariffs may hurt the u.s. economy. imf is warning about the

j d and its rival alibaba are already building logistics to operate in europe.going on with regard to japan, a look at some of these companies making headlines. suffix: the worst performer on the nikkei 225. this stock is one of the biggest etf.iciaries of the boj the other side of the equation coming have japanese banks rallying. ufj for example. of easing have squeezed lender margins. expect to see local firms jostling for the market. orix is seen as a contender for an osaka resort. this is bloomberg markets: asia. this isn't just any moving day. this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving day with reliable service appointments in a two-hour window so you're up and running in no time. show me decorating shows. this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected while you move with the best wifi experience and two-hour appointment windows. click, call or visit a store today. mark: the bank of japan has announced its first unlimite

so they have the ad inventory, and we have seen alibaba do this successfully in china.o, we see rapid growth coming in profits from advertising. emily: what about international? they talked about improving efficiency in europe, in japan as they continue to invest heavily in india. >> india is a big growth segment for them. and we also saw that the head of india is now the part of the senior team at amazon. having missed the boat in china, they are very serious about india. they announced a big entry into australia. they had some bumps in the road with that. but there is a big market to be had over there. europe continues to be very strong for them, a lot more developed than the other countries. but all of these vehicles that we are talking about in terms of advertising, whether it be advertising, prime, groceries, these are all significant opportunities, not just the u.s., but international. emily: that was bloomberg's jitendra waral and boomerang's guru hariharan. coming up, alphabet hits a home run its second quarter with google, despite costly regulatory trouble. we

alibaba is a great long-term story. go ahead and own it. i don't. >> are they done along with trade? >> they're down along with a few things the market with the index they're down along with trade. eve p though they don't do noticeable >> they don't do -- >> it's a sympathy play. that market has gotten killed. also down with nasdaq. there are lots of reasons not to own them i think a lot were speck ulatis. alibaba being another. even though google put 500 million there. that's nothing for google, but a show of faith, so look, do i think you can own them for the long-term, absolutely. do i own them here no, i think buy? >> i think if you look at the way these stocks have traded, this is in keeping with the way they act >> and with technology overall >> these stocks don't trade like google and apple they're volatile a, they're emerging market b, the trading volume tends to be thinner also a drdrs and appear in a lof etfs that are rapidly traded so nobody should pecht theexpec like u.s. blue chip technology companies because they never have an

the other thing may be they have inn what alibaba has done china with singles' day, which has becomeh a huge driver of retail sales. it is also helped raise the profile in general. i think amazon wants to get a little bit of that by kind of branding a prime day post up they can own it. other retailers are drafting behind them. vonnie: is this a way to push their own brands into the marketplace? >> the ever-growing private-label, a brand of products. they're going to be featured prominently on amazon.com, on the voice-activated devices, and i think they're going to really be pushing those, promoting those. those have higher profit margins than do third-party items. it is a win/win for amazon. mark: how this whole foods get promoted in the sort of prime day euphoria and brought into the amazon umbrella? >> that is what people are waiting to see. it is hard intuitively to think about food shopping is something that could benefit from this big retail push, but leave it to amazon to try to tie it in a little bit. at the very least, it will raise the brand of whole foods within the overall

and looking at a partnership with jack ma from alibaba.ouncement at the roastery in shanghai >> somebody was making the comments about the new lids without straws that they're the equivalent of millennials going back to sippy cups. >> did they say how appropriate or that would be something i would say? >> it may have been a little close to that snarkiness yes. >> it may have been implied, anyway >>> all right. jeffries initiating coverage of gamestop with a buy rating with what it sees as a well defined vision under new leadership. i thought i saw trump tweet. >> there's been a couple mostly about nato and the lack of spending by european allies. >> what ask this intro santoli. >> we're going to talk markets >> you're right here all right. let me read what they prepared for me let's get back to the broader markets. can the trade war and earnings report give another shot mike santoli our coanchor joins us now and he will speak >> i don't like to be preo introducing myself >> didn't really turn into anything on the downside but definitely ha

alibaba is down 11% in the last couple of weeks because of the devaluation of the yuan. that's the big risk. but are you telling me that the market can't get out of the range that it's been in? until we figure out all of the stuff -- facebook is not going away next week with the tariffs in effectle today, tomorrow -- >> actually, the only one who blinked in this whole thing, watch trump with zte congress comes out and says you got to uphold that ban we do not get out of this trading range until trade is settled. >> let me throw another wrinkle into it. so now, people in january, february who go into that moment if i could just figure out what's going to happen, i'll set my portfolio based on that when they did that, they kicked out the staples, the utilities, the only thing holding up the market you have a yield curve that continues to flatten you have now industrials and materials both in correction technical correction financial is very vulnerable, now at the lower end of their range. looks like they want to break down >> the fos to your point has 13 down days, right t

. >> ten-cent alibaba which has been ugly, too. >> yeah, they have, but one of the things you want toat, what turns on more is pure revenue growth when you have a company growing at 20, 30, 35% generally those stocks tend to outperform the ones that are even doing better on a slower growth, but more profitable basis revenue matters more in e-commerce than anything else. >> ogig, fdn and the iy on. >> w >> iyw >> three interesting pure plays. >> did kevin say -- did anybody here like these names? >> you did point out ten cents in a rough go. >> does it make it more of a positive >> if you think that alibaba is a trade war stock that their commerce is all about trading across borders. >> i'm an em guy and i'm a global guy and they're not resigned to just doing business. >> if you've been long the names and why not own them in one index? >> i think it's interesting. >> still ahead, apple, as we noted touching an all-time high after the earnings beat the stock and up more than 3%. fast money friend and fast money fiend, gene munster is on the red phone listening in on the conference call

alibaba, they've fallen back on -alibaba trifecta. >> at $23 you quoted that they need to expand in chinae other auto company, it allowed them to expand, work within the regulatory framework in china to expand distribution and potential manufacturing in china. havebviously tesla doesn't a jb partner, so they will have to think of other ways to do that and maybe partnering with alibaba a work because they don't really sell a lot of cars through to your ships. yvonne: but when it comes to the trade tensions, it seems like one of the things that people try to retaliate is through the boycotting of u.s. goods. we're starting to see signs of that when it comes to some of the u.s. car automakers. which ones are hit currently and could tesla be on that list? steve: it's very possible. we have started to see potentially some of that happening, the boycotts. last year, the chinese boycotted the self driving -- the south korean autos. they dropped 50%. and they boycotted south korean autos because they were involving you it -- missiles along the border. back in 2012 the chinese boycotted japanese a

alibaba, tencent, maybe by do -- baidu.have multiple revenue streams and a business model that is better than facebook's. scarlet: we often talk about how facebook is not exposed to president trump's trade war. is that accurate that they have no presence in china because of the band and the regulatory moves are not linked to the trade? porter: they are only in qualcomm and there is a token. david: the actually just created subsidiary. julie: i think they got shut down already. i think -- david: i'm behind on the news. ok. not pass.t, it did david: you are on top of this. julie: [laughter] scarlet: we have results from ford to report. $.27d quarter is an eps of trailing the consensus estimate of 37% -- 31%. -- $.31. here is important one that ford has cut its full-year earnings per share outlook. it seized $11 billion in restructuring costs over the next three to five years. this resulted in a drop of after hours trading in about 3%. the center of every tough thing going on right now. trade, increase in raw material costs, m

do you believe it could become a tencent or alibaba? or you don't.the company is valued today, it is not an alibaba. could become in the next 20 years? that's for investors to decide for themselves. obviously xiaomi phones are sold in china. what's the growth trajectory outside of china? shelly: they did a really good job in india but india is a very hard market, and other competitors have already gone in xiaomi is in western europe, southeast, 70 plus countries. they had been talking about coming to the u.s. for quite a long time, but he does not look like that's going to happen anytime soon. forlet: china as a market smartphones has kind of flattened. they're going to have to have the rest of the world to be able to achieve -- achieve the kind of growth that they want and it will be interesting to see how they do that without the u.s., markets like india and south east asia get even more saturated. julie: are there any other effects in terms of the supply chain? shelly: the don't really do anything in the u.s.. they sell a couple of little things t

that will be the biggest ipo since alibaba.n --francis lun will be around to go through all of that. that is next. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. streaming must see tv has never been easier. paying for things is a breeze. and getting into new places is even simpler. with xfinity mobile, saving money is effortless too. it's the only network that combines america's largest, most reliable 4g lte with the most wi-fi hotspots. and it can be included with your internet. which could save you hundreds of dollars a year. plus, get $150 dollars when you bring in your own phone. its a new kind of network designed to save you money. click, cal

thisll tell you more about company's plans to take on alibaba.rg. ♪ haidi: it is a: 30 a.m. in singapore. 8:30 a.m. in singapore. we had a pretty optimistic view across broader asian equity markets. i am haidi in sydney,. . ramy: let's get to first word news with jessica summers. sachs hasoldman confirmed that david solomon will be the new ceo. this will assure in the new era on october 1. oldest will be the banks new leader in almost half a century. he has been a goldman for 30 years. almostxpected to pocket $85 million when he finally walks away. i will be stepping down as ceo at the end of september. burst --airman, i will retire from the firm at the end of the year. told: bloomberg has been that they will discuss global trade tension. a response is unlikely to be included in the final statement. this document will mention the importance of multilateralism but will not focus on the individualism of tariffs. international trade and investment are important engines of growth and innovation and development. its prime dayast sales. to 36 hoursded

alibaba, largest since globally. billion u.s. dollars raised in 2014.ll be the largest in a long time. that is why there is a lot of interest from investors. is it worth it? it is one of those companies where there are big numbers. they are beijing-involved. rishaad: when investors look at this ipo, what do they look at? you can describe it as a utility. we normally get a decent dividend. what are we looking at? an aren't indispensable driving force in the implementation of china building strength in cyberspace. very clearly, there are pointing out the role of what they are in pushing xi jinping's being strong technologically, his approach and strategy. arend the numbers, one role they going to play in china's national service? rishaad: they differ that. -- thank you for that. let's look at hong kong's new listing rules. they are said to have raised $400 million pricing the ipo at the midpoint. the team leader is with me now. this country is not worth $19 billion, is it? it has generated no revenues the date. are investors actually buying them? guest: i

a two hundred fifty million euro factory in numb tong next year the company has signed deals with alibaba health opened a technology center in shanghai and is adding tongji university in shanghai to its global network of genome editing researches the initiatives i designed to commemorate to the company's three hundred and fifty thousand of us. it all started here with a pharmacy in dom stopped that humble shop grew into what's now the oldest from a company in the world and three hundred fifty years later still run by the founding merck family but now the company is a global player. now has annual sales of more than fifteen billion euros last year's profit was two point six billion and they employ around fifty two thousand people. the company now has several divisions mix pharmaceutical sector is under a lot of pressure to research and develop their own drugs and bring them to market that includes drugs for cancer and multiple sclerosis they also make lab equipment which is the study business their third division is making liquid crystals for l.c.d. screens and in that field they're up aga

it has attracted a unit of alibaba group as cornerstone investors. valuation we are looking at a yield that would be the biggest ipo in the world since alibaba which was four years ago. not a great time for this listing to come to the market. the hang seng is down from the highs of january and other major ipo's we have had this year, high-profile ones like xiaomi have been a disappointment. lots more to come on that story but also grace were an avalanche of earnings on wall street this week, though faang stocks looming large and industrials and energy giants, we will have a look at the week ahead. this is bloomberg. ♪ ♪ kathleen: this is -- haidi: this is daybreak asia. earnings the slowest -- big oil, big tech and the financial firms all on the list. su keenan here with a preview. su: we have a lot in deed. some are calling it an avalanche. we start off with alphabet, then tuesday we have ubs from switzerland, amazon, facebook and deutsche bank on wednesday and thursday. we close out with twitter and exxon mobil. let's go to the charts because some

reliance boss tops the regional list, having overtaken the founder of alibaba.to be worth $4.3 billion. he has made $4 billion just this year alone. hisk djokovic and that grand slam -- and did his grand slam drought. he took an immediate lead and withstood a late challenge to 7-6.-2, 6-two, federer andly roger nadal. this is his first since he won the 2016 french open. yvonne: let's take a look at markets. we are lacking direction. goinglot of clues what's to happen when it comes to trade tensions. plenty of event risks with that meeting between president trump and vladimir putin. backdrop, that relief is petering out. stocks losing ground in sydney as well as wellington. the cost be edging higher as we have heavyweight chipmakers edging higher. the korean yuan trading at an 1130er low, back at the low against the dollar. with the bank of korea on hold from the rest of the year, more weakness expected for the currency given the negative yield gap with the u.s.. isck movers will show what boosting the kospi, korean carmakers climbing. have bloomberg intelligence

yvonne: but there are reports alibaba might as well -- does that impact the sentiment as well?d to say. it is such a milestone in the markets. we believe the direction is correct, but to really get to the approval, it will take some time. there are a lot of legal questions, a lot of accounting questions that need to be kosher, that professional and legal markets need to resolve. benson wong of pwc talking about hong kong ipo's. could be a blockbuster year. this is bloomberg. ♪ yvonne: now for a look at what is coming up in the next few hours on bloomberg television, let's bring in david. a lot happening in malaysia. we are expecting to hear charges from the 1mdb scandal and najib razak expected to face charges soon. >> we will be live out of kuala lumpur. he faces a legal battle, which could actually see him in jail just two months after elections. we are watching that as well. a few other things -- there is the china angle to this. when you look at the data that has come through, it has really been the worst set of data for the chinese mainland in two years. when you look at t

it also means it is regaining the title of asia's second richest man, behind only alibaba's jack ma. on bloomberg. ♪ come here on bloomberg. ♪ phones have made our lives effortless. streaming "must see tv" has never been easier. paying for things is a breeze. and getting into new places is even simpler. with xfinity mobile saving money is effortless too. it's the only network that combines america's largest most reliable 4g lte with the most wifi hotspots and it can be included with xfinity internet. which could save you hundreds of dollars a year. it's a new kind of network designed to save you money. click, call or visit a store today. singapore.0 in looking much brighter. markets also bouncing back in the asian and pacific areas. i am yvonne man in hong kong. ramy: i am ramy inocencio in new york, and you are watching: european close national i you are watching "daybreak: asia you are watching "daybreak: asia ." jenna: beijing says there is no current contact with washington, but it says it is not afraid of an escalation. the ministry is bound to take what it calls "firm and force

over on the chinese mainland, you have focus media jumping as alibaba affiliates are combining for anion deal. with a plan to raise their stake by as much as 5% in a years time. hina-caissa travel rising. we do have the company terminating its asset restructuring, citing changes in policy and market environment for the decision. , stocks are falling. the hotel is falling as much as 9%, also giving worry over tougher competition for its duty-free store business along with the recent inflow of tourists. now to thatng back helsinki meeting. damage control continuing at the white house after president trump's comments on russian meddling at that summit. he now says he holds vladimir putin personally responsible. who not accuse the russian leader of lying. >> i can only say i do have confidence in our intelligence agencies as currently constituted. i think dan coats is excellent. i think gina is excellent. i think we have excellent people in the agencies. when they tell me something, it means a lot. president trump has said some confusing messages, to say the least about russia over the pa

billion, that is where alibaba's stock is traded. that is your bloomberg business flash.ow turning to wall street beat. cohen's crypto investments. he is courting the ultrarich, stepping up efforts to cater to alter high net worth individuals by hiring a veteran to lead investment banking and ross sells out. wilbur ross selfie will -- says he will sell his equity holdings. is jasonming out kelly, r bureau chief at bloomberg and kelly collins. let's kick it off with steve:, the next guy investing in cryptocurrencies. >> i saw this and thought, he is going in and it is notable that this fund is self economist and is led by a woman, so that is notable in the hedge fund world. but has also drawn investment from union square ventures, from the ceo of coinbase, so this actually feels like something real in the world of crypto. ofgy: it started at the end last year and it is important to note that the money going into this is coming from his cohen private ventures, not from the hedge fund that he runs. it is part of his asset base that he uses to invested longer-term capital. th

alibaba on the hunt for $2 billion in funding to help nav a bigger share of online food delivery.ry platform and rival are in -- incurring heavy losses. the market is strategically important for alibaba and tencent. that is your business flash updates. up, prime day countdown. this is bloomberg. ♪ 2, down. back up. our phones are more than just phones. they're pocket-sized personal trainers. [ upbeat music playing ] last-minute gift finders. [ phone chimes ] [ car horn honks ] [ navigation voice ] destination ahead. and discoverers of new places. it's the internet in your hand. that's why xfinity mobile can be included with xfinity internet. which could save you hundreds of dollars a year. it's a new kind of network designed to save you money. click, call or visit a store today. >> live from new york, this is bloomberg markets. we dive into the futures markets for the charts at the commodity complex. as the pullback continues, the bloomberg commodity index is days down over the last 10 more than 5%. the worst 10 sessions since early february. take a look at crude. wheat is down al

they have the at industry and we have seen alibaba do this successfully in china.e see rapid growth in profits from advertising. emily: they talked about improving efficiency in europe and japan as they continue to invest heavily in india. guru: india is a big growth segment for them. the head of india is now the head of the senior team at amazon. having missed the boat in china, they are serious about india. they announced a big entry into australia but have bumps in the road with that. there's a big market to have over there. europe is very strong for them. all of these vehicles we talk about in terms of advertising other to be prime, subscribers, and groceries, these are all significant amount of opportunity internationally. emily: what about prime video? how big an opportunity is that? it is huge for netflix, but for amazon, the division has had a lot of struggles lately. where does prime video go from here? jitendra: prime video is available in 200 countries and territories globally. prime, and it's true glory, is available in 16. it is trying to use content t

they say jd and rival alibaba are booting logistics upgrades in europe. china towers said to holdingcapital and companies to its plan ipo. sources say they are among 10 companies to buy stock as cornerstone investors. atna towers offering shares one dollar 26 -- one dollars $.26. this would be the biggest in nearly four years. ♪ haidi: we are looking at a a lot of trading week, events facing investors, not the least of which keeping one eye on the yuan. we have the pboc meeting in two years on friday. how much more can they tolerate and how much does that affect the rest of the emerging markets? this is how we are trading at the moment as asia wakes up. new zealand looking lower, sydney indicating a downside, .3%. we are seeing weakness across energy, looking to dominate trading with oil prices continuing to fluctuate on account of trade tensions weighing into the demand side of the story. the aussie dollar above $.74 u.s., the u.s. dollar declining towards the end of last week. this is bloomberg. ♪ is bloomberg. ♪ haidi: it is 8:30 in sydney. markets ope

that facebook recently released to ongress had dozens of pages relationships with companies like alibabaere those dealings common practice or something more? >> to some extent they are common practice. if you have the kind of service facebook has, you will make it work really efficiently on a wide range of devices, you will need some version of those kinds of partnerships. the problem is their candor. the problem, it is that some of the things are covered said -- that zuckerberg said or declined to not not to be true. wherecument showed that he said they stopped data sharing with apps in 2015, in reality, they extended a number of the partnerships for much longer than they said. little fuzzy to me when they actually ended all of them, because there's so many caveats and call of vacations in there. second of all, they announced something that had not been asked about during the hearings. and, something that most of us described as the partnerships with hardware companies. that may be that those are legitimate, but the existence of the partnerships contradicts things zuckerberg said in the