how does that help alibaba? the chinese government is having friction with the areas because of the maritime issues but alibaba isn't. chapter 13 is the most interesting chapter in the book. i think that is a queue to wrap it up. i am happy to have you hear. including friend i haven't seen for many years and happy to sign and stay in touch. find we on wee chat.

alibaba wants to do more. they are becoming a bigger part of the business because they make commission and the issue of fakes. but the issue is the merchants sometimes buy their own products. it is called brushing. they may ship empty boxes or buy lots of products because it gets them up in the rankings and they are the number one plastic garbage can company. those of you who lived and visited china know it is unpredictable. in china, if you want to cross the road and i can see a stop light here. green does not mean it is okay to go. green is probably run with more awareness than red actually. so that is how you have to understand china. often contradictory rules. when the ex-pats come, the first day or two when we come out of china, you kind of -- i have yelled at people and they are like chill. because life is not stressful but it is intense. it is sort of -- but we miss it and love it there. that is what alibaba has. it has captured that street feel. it is not for me but i heard a recent story about a guy s

has a 15.4% stake in alibaba. at stake in alibaba along with the stake in yahoo! to the first quarter of next year. turning to a stock faring less well, and warren shares. it is punting on the announcement of its secondary offering of an undisclosed buy. investors may be hearing dilution, and they are raising cash to find a cardiovascular drug study. investors may have questions around that. it always seems to come back to biotech for the nasdaq. alix: peggy so much. -- thank you so much. nira, you are looking at the euro stoxx 600. nira: absolutely. stoxx 600 at a seven-week high. it is close to recovering its brexit losses. not quite there be getting close to it. 1% can see up almost 4/10 of intraday. and some of the best and worst performance, i want to highlight -- it had better than estimated profits and it improved if margin outlook to 16.5% goal. maybe expectations in all business units. you can see the shares of 4.5%, one of the best performers on the stoxx 600. takes pressure off the ceo, who is fairly new and the role. looking at old mutual, one of the w

sold alibaba stake, yahoo! would incur a huge tax liability and that does not solve the problem even if we are invited to a quieter the remain throw because we would not be will to cancel those shares legally. and we end up inheriting that big tax liability. it will be a very difficult question for us. emily: alibaba has been very inquisitive in the past, more than $24 billion in deals in the last year. in, softbank.ked how open is alibaba to really big deals? joe: when you have 61% operating margin in your or business, you'll have to think about how to smartly use that extra cash flow, that margin, to invest for future growth. when it comes to our m&a strategy, we will be very disciplined about it. we have set ourselves several important criteria including growth in our user base, improving our customer experience, and also expanding in our categories. if you look at the large acquisition and investments we have made over the last year, they all fall very consistently into those principles. we acquired yoko be

how is that impacting alibaba? cory: is this about a slowdown in the chinese economy or the aw of large numbers? both numbers are up but both are growing at a slow pace. they are pushing the boundaries of how much they can grow. you can see in the numbers the growth just isn't there the way it was in the early days. emily: as you mentioned, they broke out revenues differently this time. they have been investigated. they are making different kinds f financial disclosures. what more did we learn that we did not know last time? cory: they only broke out in two different metrics. analysts would like to have seen a lot more information especially about the shipping platform. there has been an investigation. they admitted a few weeks ago -- maybe a month ago, june -- butno new data about that. it is an area of concern. we do not know where the investigation is going but it is ongoing by the sec. it is a mystery. 47% of this unit. we don't know how they're accounting for it and how it affects their regular results. no upd

is its 15% ownership of alibaba, 384 million shares. plan will be placed in what will be an investment company once core business is sold to verizon, potentially the yahoo! japan stake is disposed of in some manner. what will happen then? some speculate that alibaba would want to buy that investment company in order to take control of its own shares. here's what mr. tsai said when i asked him about that possibility. >> if yahoo! sells the stake in alibaba they would have to attract a very large tax liability. it's a taxable sale. but here's the problem. if we go and try to acquire the shares of remainco, we will not be able to cancel our shares. they still remain outstanding shares. and we would inherit that big tax liability. so i have to ask myself, why would anybody in the world want to do that. i think that's up to the yahoo! board to figure out a tax efficient manner for us to engage. and so, you know, we have a business to run and we can't sit here trying to think about all the strange tax contraptions. >> i should point out that

let's talk about alibaba. the company has been diversifying, so on one hand, in thef 40% -- 47% boost e-commerce business but that only accounted for 72% of revenue. it has been building their cloud business, just like amazon in the u.s., and also building their entertainment business, shares of more than 4.5% and yahoo!, which has the alibaba stay, up more than 3%. macy's out with numbers that beat analyst estimates. the company also said they will be shedding about -- shedding locations. they will also do stock buyback to conserve cash and revenue came in ahead of estimates. l's also beating estimates. gross margin expanding as the company says they are managing inventory better. comparable sales telling about withlling about in line 1.8%. we will hear from other retailers in the coming days, any arising. nordstrom reports they are higher. jcpenney later in the weekend we do not hear from the sears until september 1, but they have been rising. chesapeake energy agreed to give lloyd their barnett shareholding

how open is alibaba to really big deals? >> when you have 61% operating margin in your core business you have to think about how to smartly use that extra cash flow the margin, to invest for future, growth. when it comes to our m&a strategy, we are going to be very disciplined about it. we have set several important criteria including growth in our user base, improving our customer experience and expanding in our categories. if you look at large acquisitions and investments we have made over the last year, they all fall very consistently into those principles. we acquired yok u because we want to get into digital entertainment, and we partnered with one of the largest -- so these are examples of acquisitions that we have done. we are open to large deals and we are open to small deals. the important thing is they stay consistent with our m&a principles. emily: you guys made a big investment in a company to be paid over two funding rounds. according to reports, at some point alibaba stopped paying. what actually happened there

there has not been much excitement over alibaba since its ipo.d is having a look at what is going on behind the numbers. it seems the diversification decision is paying off. it certainly is. if you want to use a european analogy, both core and periphery, alibaba did well. you lookst said when at other businesses doing as well, almost icing on the cake. shares overnight, results before $91.77 is yourn, level. just to see where we are. there we go. that is a 15 month high. let's get to earnings. for the first time since it went public, alibaba broke down the company's revenues, 85% coming from he conference -- e-commerce. year, that was , now8% of the total pie 15% of a bigger pie, entertainment revenue almost quadrupled. we are still looking at losses, but that was down to reinvestment and not so much operational. and inu look at cloud, fact we have a graphic, this is something that alibaba is looking at as far as expanding. this is revenue growth for the cloud business of alibaba, 156% was the latest growth clip for the business. losses less than

alibaba is a super long-term oriented strategy.ost of what he said was off the record but what i can say is they really are looking to see what septet is doing, how they are able to hook in all of these young users in the u.s. and maybe five, 1015, even 20 years down the line all of this knowledge they are gaining from the u.s. investments are going to pay off when it comes full force in the u.s.. >> thank you. now to today's revolving door in tech. tableau has a new ceo. succeeding the cofounder. he comes from the cloud computing division of amazon. shares sparked -- spiked 5% but it is a small recovery for the embattled stock. it had 42% through monday's close. tableau is trying to transition its software tools to a cloud-based substitution model and is grappling with slowing sales growth. coming up, asia's internet giants may be scrabbling to diversify but j.d..com's laser focused on retail. we will talk strategy with the cto of china's second-biggest e-commerce company next. india's biggest e-commerce startup is heating up not

concerned with the red flags, yellow flags to even own alibaba? a peace offering, which controls -- i'm not totally anti-chinese. here, i own baba, or something you really believe in? i get what you say, being relatively cheap and discounted amazon. that's never a reason to own a stock, as you know, if it's rotten to the core, which boba may be. baba may be. >> investing in china is a complete different animal than investing in u.s. i've learned this over the years, over being wrong and right many times. part of it is understanding the fact while baba might have some hair on it, might have a lot of hair on it, if it has not been completely shaven down yet it can easy grow into what it can be. alibaba, you can't every discount the future of the commerce in china or the united states. much more, no competition with walmart or retailers, omni channel retailers, you have alibaba. alibaba could easily grow into any problem its had in the past. if the problems were there. i'm not going to discount the fact of, yes, there are problems. yes there are many

to watch is how much money alibaba is generating per user.ere we are looking at revenue per active accounts, and you can see in the same time last year, alibaba made $8.89 per account. that is the number to beat. we will continue to watch all of this and much more tomorrow morning. later tonight, i will speak to two alibaba cofounder for the latest results. coming up, how self driving cars have pushed the auto industry to its biggest year for m&a in a decade. we are exploring the autonomous driving the revolution next. this is bloomberg. ♪ ♪ emily: team usa has an unlikely partner in its quest to capture olympic gold. bmw is using technology to develop self driving systems also up the game of swimmers. it allows coaches instant feedback to things like this. bmw is not just helping in the pool, they are unveiling a new racing wheelchair for the paralympics. the self driving revolution is spurring a wave of consolidation. in the car supplier industry. in the last few years the total , value of deals has exceeded $74 billion. compare that to an

how open is alibaba to really big deals?ave 61% operating margin in your core business you have to think about how to smartly use the extra cash flow, the margin, to invest for future growth. when it comes to our and and a will be disciplined about it. a- when it comes to our m& strategy we will be disciplined about it. improving our customer experience and expanding in our categories. if you look at large acquisitions and investments we have made over the last year, they fall consistently into the principles. we acquired one company because we want to get into digital entertainment and we pardoned -- partnered and invested with one of the largest -- with the largest -- and omni strategy to own the electronics retail race in china. these are examples of acquisitions we have done. we are open to large deals and small deals. the important thing is they stay consistent with our m&a principles. emily: you made an investment in a company. according to reports, at some point alibaba stopped paying. what happened there and how do o

to alibaba's future growth.they have a newsfeed with already 80 million plus. if they were running a news site, they would already be pretty respectable. the idea is that when shoppers and then, they buy they stay, and that ramps up engagement and possibly ann kerr urges more purchasing. -- possibly encourages more purchasing. rishaad: how is alibaba during when it comes to that? that is a key point. obama isionally, i'll not known for social media. tencent is the leader and that space. , 80s gaining traction million plus viewers for its news feed. people are spending on average about 25 minutes per day on its mobile app, as opposed to let's say once every couple of days for amazon. people go to amazon with a specific intent. they buy, then they get out. with alibaba, it's trying to encourage people to stay and buy more. ?ishaad: 25 minutes per day that is something, isn't it? is going to be their bread and butter in the medium-term. what do ebay and perhaps amazon have to learn from alibaba? or should they lear

alibaba is consolidating to of it moneymaking acquisitions. analysts expect these businesses to put pressure on margins this year but eventually for a few years. you can see the pressure on growth margins here, particularly last quarter. another line to watch is how much money alibaba is generating her user. we are looking at revenue per active accounts and you can see in the same time last year, they made $8.89 per account. we will dig into all of this and much more tomorrow morning. later tonight, i will speak to the olli rehn alba cofounder for the latest results. coming up now self driving cars have pushed the auto industry to its a good year them a day in a decade. we are exploring the uptime is driving revolution, next. this is bloomberg. ♪ emily: team usa has an unlikely partner in his quest to capture olympic go -- m w is using technology developed for itself driving system to help olympic swimmers up their game. it hopes to provide data about swimmers movements in the water, leading coaches provide instant feedback. bmw is not just he

though forget that alibaba -- don't forget that alibaba -- jack ma has interest in different things,is one part. i believe they have a sports team, they're looking at sports assets. when is jeff bezos going to buy a football team? i don't know. jeff as a spaceship company. >> the 10,000 year clock. about when i think amazon, often times it seems when amazon earnings come out, the first thing people look at is the cloud business, this incredible cash cow and this is really the future. does alibaba feel that it doesn't get the credit for its diversification and people still think of it as basically just seeing a company where -- >> do you mean, does jack ma have a bit of a chip on his shoulder? yes. the company feels they are still seen as a china company, right, and they are just a chinese e-commerce company. jack ma has said specifically, they want half their revenue to come outside of china. that's one of their big goals. want to be expanding -- they want to be in the u.s., the middle east, and other parts of asia. they've gone on a bit of an acquisition binge as of late. i think in

/alibaba-. you're had a foothold, then they gave up and got a alibaba as a result.o you think that is the model here, or secondarily, the model that we might see going forward with u.s.-chinese partnerships? is disruptingrnet off-line industry. it started with e-commerce versus retail, now ride sharing orsus automotive ownership existing transportation services. the efficiency that ridesharing can bring is critical. inchina, car ownership cities like beijing and shanghai are 20% to 30% versus 80% to 90% in the u.s. is terrible.stion what is a good solution? right sharing is critical to complement the public transportation strategy. coming up, projected global payments sitting down with sarah fryer. this is bloomberg. ♪ biggestquare saw the intraday move since november. the shares up 18% on thursday after proving this quarter that jack dorsey's mobile payment company can serve more than taco trucks and baristas. it showed it can attract bigger businesses. 61% increase from large sellers. we asked sarah frier about big business relationships. sarah: it is an important

how open is alibaba to really big deals?re business, you have to think about how to smartly use that extra cash flow to invest for future growth. when it comes to the m and a strategy, we will be very disciplined about it. we have set ourselves several important criteria including growth in our user base, improving our customer experience, and expanding in our categories. if you look at the large acquisitions and investments we have made over the last year, they fall consistently into those principles. because we want to get into digital entertainment. with the company called suning which is the largest electronic retailer in china because we want to execute with them and on the channel strategy to bone the electronics retail space in china. examples of the acquisitions we have done. we are open to large deals but also open small deals. the important thing is that they stay consistent with our m&a principles. that was from this morning. oliver: communication in the workplace is gotten simpler. slack is used in offices and ma

microsoft linkedin how open is alibaba really big deals? >> well, when you have 61% operating margin in your core business, you have to think about how to smartly use that extra cash flow that margin to invest for future growth. when it comes to our strategy, we're going to be very disciplined about it. we have set ourselves important criteria including growth if our user base, improving our customer experience and also expanding in our categories. if you look at the large acquisitions and investments that we have made over the last year, they all fall very consistently into those principals. we acquired roku. we want to get into digital entertainment. we partnered and invested with a company called sooning. which is largest electronics retail inner china. we want to execute with them and strategy to really own the electronics retail space in china. these are examples of acquisitions that we've done. we're open to large deals. we're open to small deals. the important thing is they stay consistent our principles. >> that's on bloomberg west

alibaba deal. with that, alibaba went from a $5 billion company to in over $200 billion market cap.y partner has been instrumental in getting some of these interactions happen sector by sector. , we saw a merger since we invested. with the structure, working together make sense. we actively promote a deal of this structure. it is very gratifying to see that uber has come around and made a strategic decision to do this. me ask you, what are the dynamics on the ground. rather than take uber's money, didi one is to take its business. china, is happening in we are essentially giving involved in a massive transfer of wealth from investors to drivers. didi has put out lots of press releases talking the how many people they employ, former soldiers, steelworkers, so on and so forth. it is good for the economy, good for employment. that is part of the spin, but there is some reality to that. the feeling of the ground is didi was always going to win, it wishes whether or not uber's 20%-30% of the market would be enough to sustain them. if you are standing on the streets of beijing or somewher

alibaba was a beat as well.with an implied open right now of nearly 60. crude oil, yeah we're watching it because we always do and it has a tendency to sway the trade throughout the day. a look there. >> all right. gentlemen, thank you both for being here, scott and wilfred, great to have both of you here. tune in for scott later today. join us tomorrow. right now time for "squawk on the street." ♪ >>> good morning. welcome to "squawk on the street." i'm david faber and jim cramer, we're live from the new york stock exchange. carl quintanilla is live at the olympics in rio and, of course, will join us momentarily. we got a couple big names this morning that we're watching. alibaba, and macy's. both moving, both up as you see sharply on earnings. we're going to have plenty on both including an interview with alibaba's vice chairman joe tsai a moment from now. another look at futures. you heard scott talking about the market overall and see it is

-alibaba fight. there was a foothold in china but cannot make anything of it and then they finally give up and greeted a fantastically and createded -- the alibaba value play. this a model we will see going forward with u.s.-chinese ships -- u.s.-chinese partnerships? >> internet is distracting all my industries. it starts with online and e-commerce. an automotive ownership or just existing transportation services. in china, car ownership in beijing versus 80% or 90% in the u.s. yes, congestion is terrible so what is going on in the process? cory: tim colpan from taipei. what is coming from the mobile services? this is bloomberg. ♪ cory: this week, square sides biggest intraday moves in november. .hares up 18% on thursday sales up 41%. a 61% increase in the volume of payments from large sellers. emily chang sat down with sarah frier about the big relationship. sarah: a really important trend we are seeing in our business. larger businesses grew about 51% year-over-year which comprised 42% of the gdp.

alibaba because it's in the u.s. there are three concerns that u.s. investor have for alibaba.mic slowing down in china, how does it impact alibaba retail sales continuing to slow down, and so forth, second thing people worry about alibaba, is that they're into a lot of different things. expanding quickly in multiple geographies can they remain focused and they have 80% market share in e-commerce in china. people worry can they maintain the market share. people don't know alibaba has multiple growth engine in cloud business, targeting, and also has a very strong financial service portfolio, so people will be surprised the story in china is going from alpha economy into on-line and both alibaba and tencent are well positioned for the growth. >> what do we think tim cook is up to with his visit, with the r&d investment, what's the plan? >> i think tim knows structurally apple has the issue, high-end phones and high-end markets haven't been penetrated in china. their investment into the portfolio is an example of exploring how to go after the transportation industry with map data

outperforms. >> so i think alibaba is set up. seems like everything that they're pursuing now looks like a chinese version of amazon which is a complement. so hits cloud, for example. i really think -- longed the stock. done okay with it. not genuinely to play the chinese sector, be broader. talked kweb over the years a better way to play. you look at for example what ten cent is doing, you have to be in names like that. you can't just own one. c trip. a handful of names with great thing going on. the single stock risk with any chinese is elevated. prefer to be if ky gets above $40, not resistance, could take off because of this ali bbaba cl being right. >> and courtney, decision to buy netflix. essentially saying that, you think, is the best internet value now? >> not the only internet name i'm buying. content of netflix, see the shows, unique content. right? funny. remember the rumors that potentially bottle buying netflix. i actually like them. people may totally disagree. amazon may look at netflix rather creating, doing the

we know that alibaba has talked of investing in servers and cloud computing and data storage here inhe middle east. we know that saudi arabia wants of theset more knowledge-based and technology-bed industries into kind ofabia, so this is a conflict of interest by these two parties, so it may be an area beta site to cooperate in the future. mou's.you mentioned does that agreement help both parties? reporter: depending on what the details are that come out of that, it could be potentially beneficial to both parties. ofmentioned a lot of buying crude oil from china, and that has been one of the big stories of the oil market over the past year. as prices decline, china has been buying, and that has helped support the market. one of the ideas there is that china is filling up its strategic trillium reserves -- petroleum reserves, filling up the reserves of oil they would use in an emergency if they were cut off. that's one possibility where saudi arabia might be talking about supplying oil into that strategic reserve. on the other hand, countries like saudi arabia have storage areas in co

alibaba before the bell and alibaba executive vice chairman. >> now let's get back to carl that's stillive in rio. a big night for team usa. an wins that goal in the 200 meter butterfly. just instagramed a couple of moments ago and said that's one, always remember i wanted that one so bad. last night also anchored the 4 by 200 men's freestyle relay with a two second victory. women's gymnastics. the final five win gold back to back in team competition for the first time ever. why are they called the final five? because the team size goes from five to four beginning in future olympics. amazing vault by simne biles and all alley raysman incredible. the hotel infrastructure here cannot handle them all so they called in a favorite to help out. >> on the list of olympic sponsorships airbnb has a new title and a big deal in a city that had not enough hotels and with the recession not much appetite to build new ones. >> instead of building a place that's more concrete that you know you have a legacy in the city and sometimes -- >> after the games. >> instead you mobilize the community and then

is tracking a strong performance of alibaba. they do have a stake in alibaba.n the verizon deal closes next year, the alibaba stake will represent 80% of what is left. it is understandable that investors are interested and excited by the fact that alibaba put up a strong quarter, helping yahoo! trade higher. it appears to be a down to the wire situation is whether the nasdaq will finish up or down on the wii, talk about what is holding us back. abigail: one thing that stands out my norwegian cruise lines. -- stands out, norwegian cruise lines. sinceweakest performance last year. according to bloomberg intelligence, this has a lot to do with weak travel in europe after the string of terrorist attacks. as for what is ahead, the next big catalyst for the company is held in the booking season. about will not be going into the beginning of next year. so the cruise line's stock could be stuck in a holding period. erik: thank you. that is abigail doolittle with us from the nasdaq. joe: check out that the retailers were shorter left month, the slowdown following what t

how does that help alibaba? the chinese government is having friction with the areas because of the maritime issues but alibaba isn't. chapter 13 is the most interesting chapter in the book. i think that is a queue to wrap it up. i am happy to have you hear. including friend i haven't seen for many years and happy to sign and stay in touch. find we on wee chat. [applause] >> this weekend, c-span activ's tour and comcast partners will explore the life and history of denver, colorado. we visit the tattered bookstore and considered the literary culture cornerstone of denver. >> you will see the green carpets and the brass fixtures and dark wood. the original barnes and nobles stores were modeled after this. >> and thompson talks about living with his father in his book "stories i tell myself". >> he was born in 1936 so when he was growing up he didn't grow up in an era when fathers were, you know, typically heavily involved with raising the kids. that was part of it. and second, writing was always -- that was the m

we will dig into the expansion plans of the alibaba financial arm next.his is bloomberg west. ♪ cory: the most bible chinese financial technology company is a mix of many things rolled into one. with me more to focus on this market is cheryl. talk to me about this. can you explain what the businesses it is a collection -- what the is this is? it is a collection of things. but it is hard for investors to wrap their heads around the company. it does not fit neatly into a bucket. a good way to think about this is that it started off as an online payment processor for a commerce giant and it even talked to include services like banks and credit scoring companies. one of the nation's largest money market funds is also included and it spun out into a financial of elliott of -- financial affiliate of alibaba. cory: the notion of payment systems in china, we talked to bill and we are at a point in the marketplace where the market is superseding it. >> mobile is an investment technology and we saw that most chinese cannot or do not own personal computers and many

and alibaba fight. they finally gave up and they created a wealth of valuable assets.o you think that is the specific model here? you think it is the kind of model we will see going forward? >> what we are seeing is the internet disrupting industries and they start with retail and you are seeing ridesharing with the automotive ownership and existing services. the efficiency is critical. and trafficp congestion in china, it is terrible. china can go the route of japan, like tokyo or osaka, with lots of subway lines. china has 10 lines each decade in beijing and shanghai. to get to tokyo's level, it will take 40 years. ridesharing is critical to complement the existing public strategy. ridesharing has officially become legal. how will that be implemented, that is a general question. coming. you both for a really interesting story. glad we could dig deep there. we will dig into the expansion plans of the alibaba financial arm next. this is bloomberg west. cory: the most bible chinese isancial technology company a mix of many things rolled into one. with me more to focus o

let's review some of the most interesting results, starting with the big beat from alibaba. >> alibabaosted quarterly sales at almost 59%, beating estimates. the company held up despite china's slowing economy and revenue from cloud computing revenues soared. >> alibaba has remained relatively resilient even as the chinese economy slows. how do explain that? >> we are more than resilient. we just had the fastest growth rate ever in terms of revenue since our ipo. we generated 4.8 billion dollars of revenue, 59% with year and year growth -- year on year growth, and if you look at our commerce business, we are facing consumers, we generated $2.5 billion of operating income. for in itself is at 38% year on year growth. from our perspective, the chinese consumer is very healthy. we look at the chinese household and there is $4.6 trillion of u.s. dollar at cash savings on the balance sheet of chinese households. this is because over the last few years, they had real wage increases, they do not have a lot of mortgage debt on the books, and this is all going to provide the foundation for a ve

and its investment in alibaba, but that is another matter. ubere any nearer to an ipo?would think so. it should precipitate the timeline. we do not know exactly when they are planning to do it. give -- get a to next that at some point. they will be very keen to get an ipo going. the kind of thing that will that.itate as you turn to profitability, it is much easier to go to the markets and say, this is something you want to be part of. get in now. easier tods will be do and push up the valuation even higher. rishaad: thank you for that. the mergingber and of its china operations with didi. a mixture of disbelief and some anger. juliette: it seems like a lot of anger. we had on twitter a lot of journalists and analysts speculating this could happen a few weeks ago. there was this disbelief that they would actually tie up. if you have a chance to be alley and amazon-- alibaba at the same time, why wouldn't you? this is what we are seeing from users as well, quite angry about this. calling it a monopoly. a little bit more anger coming through from this user saying businessm

. >>> coming up, shares of alibaba. will it follow amazon's lead and reveal a blowout quarter and what does it tell us about the strength of the chinese consumer, but first facebook and twitter question today, it's hillary clinton's turn to outline the position on the economy today. we asked, who has more contribute on the issue? donald trump or hillary clinton? send us your results and we'll bring them to you later in the show. amazing is moving like one. real is making new friends. amazing is getting this close. real is an animal rescue. amazing is over twenty-seven thousand of them. there's only one place where real and amazing live. book a seaworld vacation package and eat free. [dance music playing] [music stops] woman: looks like it's done. [whistle] [dance music playing] [record scratch] announcer: don't let salmonella get funky with your chicken. on average, one in 6 americans will get a foodborne illness this year. you can't see these microbes, but they might be there. so, learn the right temperature to cook ea

right, that was the numbers coming out of alibaba.he share price we have been seeing, to the upside. up next, merck shares are shipshape despite operating profits sinking on lower oil prices. we will have more on that story next. plus, a derivative of this story is with having surrounding the oil story, and that is one of the big focuses we will be going on. we will be joined and talk through what we have been getting over the last couple days. the ftse is trading at 69.10, this is bloomberg. ♪ hey how's it going, hotcakes? hotcakes. this place has hotcakes. so why aren't they selling like hotcakes? with comcast business internet and wifi pro, they could be. just add a customized message to your wifi pro splash page and you'll reach your customers where their eyes are already - on their devices. order up. it's more than just wifi, it can help grow your business. you don't see that every day. introducing wifi pro, wifi that helps grow your business. comcast business. built for business. guy: will the back. 30 minutes into the trading d

it would be the world's light and thelargest ipo biggest since alibaba in 2014. bank is ubiquitous across china with 40,000 branches, more than double the number of the world's largest bank and more than four times the number of the ubiquitous wells fargo. ipos havenancial gained an average of just 1.1% so far this year, which may not make for this to be the most ideal time for postal bank. march, theyos in are both down so far since those listings. like those two other banks, postal bank is seeking to fund expansion. it reported an 11% increase in first-quarter profit. rishaad: thank you very much indeed for that. let's look at some other stories. at thehaving a look ambitions of one of china's richest men. he has big ambitions and expanding his sizable movie empire. group isman of wanda prepared to buy two companies in the u.s. worth more than $1 billion each. that is a precursor and going after the big six movie studios he sees owning an american movie studio as a requirement to build the empire. it has offered the same amount for a u.s. cinema change. he want

by the way, alibaba's earnings have done more for yahoo! than selling the core business even though we -- you know the media was so focused on that. >> i love accelerated revenue growth. always addicted to it. call me guilty on that one. but what i -- i thought was very interesting, david, you watch the retailers go up and whether they should continue to go up. we talk about the strong dollar and how it hurt them. >> yes. >> i've waited for someone to put to quantify it whether it be tiffany or disney or whatever. on the macy's call, they have a very, very strong cfo she talked about how look our international credit card sales, this is really interesting, were down 12% in the quarter, which is better than being down 20% the previous quarter. suddenly i realize holy cow there's a -- that's an actual empirical data how hurt the strong dollar really hurt. that's going to start annualizing easier which will make you want to own the stocks again. there is real data out there that makes you feel -- i'm trying -- i'm not trying to reassure people

alibaba trying to send a note to cops doing business in china.ficult for companies both here in america an elsewhere to start up in china. so, alibaba says, let us help, for a fee. the new program already has 11 companies on board. soon hopes to add more. alibaba $85.52, up 2/3 after%. trading volume, 12.7 million shares. all the naysayers says this quarter's earnings season would be awful. nearly 90% of the s&p 500 companies have reported, how did they do? guess what? more than half of them beat what analysts thought they would do on both revenue and earnings per share. ashley webster in the newsroom to break it down if it is indeed good news? reporter: it is good news. i guess you could say how low did they set the bar. an ant could jump over the limbo stick as they say. liz, let's take a look. 62% have beat the estimate, the street estimates for eps. 30 missed and 8% met. overall down approximately 4%. if you take out those energy companies it's a lot better than previously thought. now on the revenue side, 51% have beaten as you can see there

jack ma's decision to diversify À la bobby -- alibaba is starting to pay off.increased 59% in the first quarter, driven by streaming and cloud computing services. net income and sales also beat expectations. deutsche bank has hired rich joyce to lead its u.s. investment grade credit sales team. joyce started this week with germany's largest bank, and will report to the head of credit sales in north america. that is your bloomberg business flash. manus: thank you very much. post-brexit stimulus crushing government bond yields. have a look at this. ftse relativehe to the gilt. three and a quarter percent over your government bond yields. in a relative sense, the highest level in 10 years. from ap's benefiting series of hot money coming into this market. mid-cap companies have jumped to the highest level in a year, and small caps are headed there as well. i was looking at this chart and pound, 0%his is hot rates globally, a yield differential. overe key thing is that the course of my lifetime, the u.k. authorities have always been prepared to take the strain to su

coming up, diversification at alibaba is starting to pay off and we will hear from the cofounder aboutto cloud and media streaming. plus the lay of the land at, disney and who better to hear from than bob iger. the media giant's chairman and ceo joins us to discuss the road ahead. the escalating e-commerce war, will walmart's acquisition of jet.com give it enough ammo to and jet.com give it enough ammo to really challenge amazon?

rising along with alibaba thanks to its stake. we will check back in just of little bit. let's get check on the bloomberg first word news with mark crumpton from our newsroom. mark: hillary clinton is promoting her plan to invest in infrastructure as a way to create more jobs. in an economic address in suburban detroit, clinton says she will put people to work by "unleashing the power of the private sector to create more jobs and higher pay." mrs. clinton: we will put americans to work building and modernizing our roads, our bridges, our tunnels, our railways, reports, our airports. [applause] we are way overdue for this, my friends. mark: secretary clinton promised to improve schools and what are systems, expand broadband access and invest in clean energy. meanwhile, donald trump is promising to limit what he called horrible regulations in the homebuilder industry and discuss the difficulty of buyers to get mortgages. mr. trump: it's impossible for you people to go get mortgages. it's so hard to get mortgages today, unless you have a lot of money in the bank and unless y

alibaba's e-commerce website handles more online sales then amazon and ebay combine.igger share of web searches in china. and china's laws favor local companies. facebook and twitter are banned in china. google pulled out a few years ago, because it was the target of massive cyber attacks, and it did not want to comply with censorship rules. and chinese technology has become really good. local companies make smart phones as good as iphones, but with features tailored to chinese tastes, like guessing your age from selfies. and chinese tech ideas are being copied elsewhere, like facebook message or changing to a version of b-chat. this has hardened china into an economy where locals rule. china seems to big to ignore, but it is also too big to crack for america's web powers. ramy: this week's edition of small to big focuses on an up-and-coming noosa yogurt brand. as its founder koel thomae explains, it story began down under. ♪ koel: i was visiting my family in australia and tasted what was essentially the most delicious yogurt i have ever had. i figured out a way to li

. >>> china slowdown not tripping up this name, alibaba. second quarter, rocketing the shares to new highs. baba is not only name defying gravity. lori is here with the tech minute. you may own that. >>> republican nominee donald trump taking his economic message to florida. can either candidate get their vision for the future past the house or senate? we take it to two guys who passed many plans, former senators byron dorgan and judd gregg. the battle lying ahead for next president of the united states. it is a can't-miss countdown battle. stay with us. this is judy. judy is 65 years old. her mortgage payment is $728 a month. that's almost $9,000 a year now judy doesn't think that she'll be able to retire until her mortgage is fully paid off. this is mike. mike is also 65 years old. his monthly mortgage payment was $728 a month. now mike thought he would have to work for another 12 years until his mortgage was paid off. and then mike heard that a reverse mortgage may help him. he called one reverse mortgage to get the details. mike retired

>> well, alibaba has been trying to get beyond being the e-commerce company of china.ou see the china economy slowed down quite a bit and alibaba has made it clear its ambitions go far beyond china so they made an acquisition in southeast asia, but another e-commerce company, so they are using this acquisitions to get beyond the focus market of e-commerce in china. they say they want to get 50% of the revenues outside of china. that is a long ways from where they are right now so they will have to do some deals to get there. emily: and what area do you see the most acquisitions happening, apple, google, facebook, any one of them in particular? >> i think when you look at apple, there is so much happening in ar and vr where apple is try to do things and making acquisitions in thei would expect apple, if i were to pick two areas, i would take those areas and they could make big moves, potentially picking a company like nuance. when you look at a company like facebook, it becomes different. they have a need for cognitive and i would expect them to pull in those kinds of t

alibaba shares up.e will get a nice read on chinese consumer perhaps. >> you saw the -- >> dealing with a falling yuan over time that may be hurting some of those who invest here. >> the jd.com could be an interesting read through, very good number last night, and you know, chinese company. when we talk about currencies, notice the bid underneath caterpillar of late? >> i haven't. >> gone from 73 to 83, every morning when i watch wilfred and sara they discuss the yen and the yen strength. you know, hpq, the printing company, the printing company, confuses people, and caterpillar are the two most levered company, hp ink and caterpillar, to a strong yen. the stronger the yen goes the worst it is for mat suh and for the printer companies that compete -- >> it did go the other way for hpq for some time. >> i think there's a big trend the other way and the numbers may prove to be too low for both companies which i have been tepid on but came around big time cat in 73 and i have to admit i think hp with the c