joining me for more on alibaba's recent growth.r more on aliba ba's recent moves growth. joining me for more on alibaba's recent moves as my colleague and business reporter monica miller. brick and mortar is the new strategy. how are they faring? the offline ventures are not proving so prosperous. alibaba is looking at this because when you think about this for a second, 800 million people in china are online at 100 million of them don't have access to it. so 85% of purchases made in china are in stores, and alibaba is recognising this. they opened their supermarket chain, and they have a dozen of them across china. they have a huge ball in their home town. the thing is that their home town. the thing is that the company on friday had announced its earnings, and just shy of $10 billion between january and its earnings, and just shy of $10 billion betweenjanuary and march. however, these ventures are dragging it down by 30%, which has investors skittish at this point. so it looks like they are doing whatever they can to make more mo

and tencent are investing in foxconn and alibaba. they say they are spending the equivalent of $2.15 usd per share ahead of the upcoming. want a june said to 7 listing in hong kong which could raise about $10 billion usd.

we'll see that between tencent and alibaba. continue to follow each other and it will be hard to see who ends up winning. for anybody else who gets in it isway, in the same way hard for anybody to compete against facebook or google, it will be difficult for other companies to compete against these two giants. i can't let you go without asking about the ipo announced yesterday. up until last year, this company dropped off our radar. what will be the pitch during this ipo tour? michael: historically, they were high and that sold phones for low prices. they are trying to convince investors that they are more of a service company. it is a little less than 9% of the revenue. 21% connecteds, devices like rice cookers and air-conditioning. notproblem is they are making that transition into smart services and other things used on the phone like games and movies. it will be interesting to see how this plays out. they are investing for international growth. they are the leader in india, going into western europe. there are questions abou

alibaba pictures, another obscure unit of alibaba, also out of nowhere came roaring out of the gates. the best performers in asia in the past couple of weeks. we'll see whether that momentum continues. dave: and whether or not, of course, they have -- currency has appreciated a lot. richard frost joining us here. now, earlier on, a few minutes back one last look at the chart before reveal the answer. here's the longest version. the top panel is the jobless rate in japan. the answer to our question which was, what is that blue line? that is wage inflation. the chart does look like that. they are meeting at the 2% level which is a nominal level for central banks when it comes to overall inflation. the bottom one is the morgan stanley japan wage growth indicator and really to show you is the markets continue to tighten, the labor bullish rating, you're getting more -- the question is whether or not we've seen the peak. wage inflation, do you feel that? if there is no inflation, then i guess you do. anyway, check it out. kurodaa: and, you know, has come out to say that wages and construct

alibaba's financial company. there is a lot of potential.uestions to our next guest coming in this half hour. is a fairly, it opportune time to be speaking with charles third we will have him in 20 minutes. to us about the pipeline a little more. this is the start. 2000, it wasarly the state owned enterprises. that was all the rage back then. now we have moved into a new phase of tech ipos in hong kong. steve: absolutely. definitely hong kong wants to take advantage of that. being on has another just a number of technology spinoffs. not only good doctor, but one connect. there are other tech unicorns i could be eyeing hong kong. also keep in mind, there could be simultaneous listings for companies like xiaomi. they could go back home. china is considering changing its laws as well to allow china's depository reserve could you could see xiaomi go home. they need to change laws on the mainland. there are a lot of opportunities. david: does that take away from hong kong or does that help hong kong? steve: we will find out. david: thank you so m

for alibaba, blowing out estimates across the board.raight quarter that alibaba has posted revenue growth of more than 50%. some things that go with that, they sold $715 billion worth of merchandise this year. that is $105 for every single person on the planet. they had 617 million active monthly users enter seeing revenue growth of 60% for 2019. a big part, as you mentioned, is in the cloud computing business. that saw growth of 103% this quarter. a record, so that is a really big number off the top there. ♪ betty: i want to turn to another tech company, snap. they reported their results as well. wow. are you surprised at how badly users took to the redesign? >> in some ways yes, in some ways no. if you think about social media, they are almost like fashion companies, right? you have the celebrity endorsements and the celebrity discussions, and that influences the social media platforms much more than any technology-type products. and look, there is a history of social media platforms that were around and gone -- not to say that snap w

this was a real growth out quarter for alibaba. >> revenue grew 61%.uarter that alibaba has posted revenue growth of more than 50%. sold $715 billion worth of merchandise this year. that is $105 for every single person on the planet. -- monthly active users. the big part of that is in cloud computing. they saw growth of 103% this quarter. that is a really big number off the top. >> someone to turn to another tech company. cannot forget snap because they reported their results as well. wow. are you surprised at how about users took the -- took to the redesign? >> in some ways yes, in some ways no. social media is like fashion companies. you have the celebrity endorsements and the celebrity discussions, and that influences the social media platforms much more than any technology-type products. there is a history of social media platforms that were around and then gone, not to say that thingsll be gone, but change much more frequently. the funny thing is we are talking about apple as a hardware company with services. snap calls himself a camera company, y

emily: that was the alibaba feiss chair -- vice chair.this edition of "best of bloomberg technology." we are going to bring you all of the latest in tech through the week. be sure to sit down and tuesday to cover everything from diversity in tech to facebook and more. and remember all episodes of bloomberg technology are livestreaming on twitter. check us out at technology weekdays. that is all for now. this is bloomberg. ♪ mom, dad, can we talk? sure. what's up, son? i can't be your it guy anymore. what? you guys have xfinity. you can do this. what's a good wifi password, mom? you still have to visit us. i will. no. make that the password: "you_stillóhave_toóvisit_us." that's a good one. seems a bit long, but okay... set a memorable wifi password with xfinity my account. one more way comcast is working to fit into your life, not the other way around. ♪ haidi: returns from beijing with little to show except an agreement to keep talking. iran warns the u.s. of historic regret if it pulls out of the deal. haidi: i had scratcher for the fed

it could be the largest deal since alibaba and may bring in the value of $100 billion.e maker is growing at a blistering pace that will help it take on apple and samsung. we went live in hong kong on thursday where we were joined by bloomberg's stephen engle. stephen: xiaomi was an incredible success story when it was founded in 2010. i remember interviewing the cofounder in 2012, one of the first foreign journalists to get an inside look at this booming company. we had no idea it was going to become this large. they were a victim of their own success. one became a rockstar compared to steve jobs in china. actually, he said he did not like to be compared to steve jobs but rather jeff bezos, but anyway, they had an overaggressive expansion plan. fromhired hugo barra away google. they expanded very fast. some cheaper competitors came along and stealing their business model of online distributing of handsets. and they lost their way a little bit. the growth went down into the single digits. they have really turned things around ahead of the ipo, which could be listed in ho

the ipo could be the largest since alibaba in 2014.nese smartphone makers had revenues surged last year, a blistering pace of growth that will help it take on apple and samsung. we want to head to hong kong and bloomberg's correspondent stephen engle. the founder of xiaomi was once hailed as the next steve jobs, then things went south. what is driving this turnaround? was in equitable success story when it was founded in 2010. i remember interviewing the cofounder, one of the first foreign journalists to get a look in this booming company. we had no idea it would become this large. they were a victim of their own success. in late june, something of a rockstar, being compared to steve jobs. he said he was more like jeff bezos. either way, they have an overaggressive expansion plan. they really expanded very fast. -- cheaperpetitive and theyrs came along, lost their way in little bit. growth went down into the single digits. late june growth has turned things around of this ipo, which could be listed in hong kong this year. as well, uppe

is alibaba back in 2014?r going public here it two days after the rules can into effect, your initial take away? it's not exactly the company at its peak. >> actually, they have had a good year the last eight once. they have tended perfectly. what they've done in the last 18 months to ramp up the numbers. story. turnaround the bankers have got a great story to tell investors as we go into these ipo process. we've seen the smartphone business do very well and they are spending a lot of time talking about their shipments have done very well. they have got that momentum. >> what is interesting with them if they say they're going to curtail their hardware profits and the gross margin will be restrictive to 5% but that implies that building their story base that allows them to push more services and those businesses are at a 40% to 60% growth margin. that obviously gives them better prospects and takes them more toward the 18% or 90% that samsung is able to do. ♪ ♪ bloomberg best. this week the u.s. treasury annou

cheryl: we are on the watch for alibaba's earnings. >> good morning, tracee.racee: good morning, alibaba is scheduled to release earnings before today's open, revenue of $9.3 billion for the quarter, that's up from 5.6 billion a year earlier, another thing to watch alibaba 33% in ad financial, part of alibaba before ipo, the stock recently hit a record high of 206 -- $26 a share. >> twitter is asking us to change password. tracee: out of an abundance of caution that they should change passwords right away in vlog post, glitch caused passwords to be posed in plain text in internal system. twitter fixed the bug and found no indication that passwords were stolen or misused. if you use twitter password for any other service or platform, you should change password. cheryl: like we don't have enough to keep up. jay z is going to court? >> next week, actually. but jay z has 99 problems and the sec is one. the sec has ordered jay z, manhattan federal court next week regarding 200 million-dollar sale of rockaware apparel in 2007, it is investigating whether violated se

. >> alibaba shares also jump today. they have been unapologetic about ramping up their investment in they say that will continue. what do you make of that. growth are in super mode. at 60% the e-commerce growth. they are even investing on cloud. i think this is an opportunity. alibaba is in a massive position and that is why the investors are cheering this strategy. i think this is another vote of confidence for this e-commerce really.s the two giants it is a to war -- two horse race. i think they will continue to expand to other areas and that is why this investment, i think it is a smart strategy at this point. >> what does this say about the u.s. tech market which just a few weeks ago, their analysts saying a tech bubble had burst and a lot have been recovered just the last few weeks? at the you look argument, one of the big things we have been noting is the rate of growth. tech, it isat china projected to grow twice as fast over the next 12 months and when you look at the valuations, they are higher. expect and atou

let's talk about alibaba, andrew you're favorable, right? you like it. >> yeah, love alibaba.eally do. a lot. >> what is the core of this? it's interesting there are a lot of short sellers who will be against you, the short seller. >> oh, many. >> many. it's an interesting sort of lightning rod stock. so what do you see >> i mean, it's the anti-square. it's a company that has built such a big moat on the biggest dam story in the world, obviously china. it's the tollbooth to the chinese middle class, 500 to 600 million people they have a wonderful platform on which they're building it on. i think if you own albie live b -- alibaba, if you miss it this quarter, next quarter or the next quarter it's lagged amazon i don't know why i guess there has been concerns about a possible trade work, people look at margins but jack ma is a superstar, the investments he snaking with the company and the ecosystem he has built for china, there is nothing more you can say now, if the whole nasdaq goes down, this will probably go down with it. but if you didn't buy facebook at 150, 155 and you'r

amazon, alibaba and now francine: the two horse race depending on the geographic way you look at it.t will continue to expand to other areas and that is why investment is a smart strategy at this >> what does this say point. about the u.s. tech market which just a few weeks ago, their analysts saying a tech bubble had burst and a lot have been recovered just the last few weeks? >> when you look at the argument, one of the big things we have been noting is the rate of growth. if you look at china tech, it is projected to grow twice as fast over the next 12 months and when you look at the valuations, they are higher. that is what you expect and at the same time, they are pretty much in line -- these violations are in line with what effect over the last 10 years. from a valuation perspective don't look too stretched. >> apple is heavily weighted here. what role does apple play in the overall sentiment of the tech sector? >> this was a game changing week. what comes out is the iphone x is not dead are at it as one of the best-selling phones out there and they're going through a massive p

alibaba will own 33% of ant financial.nt from getting a dividend to owning 33% that will close probably sometime in the second half of the year ant financial nearing that $10 billion raise. that will value the company at 1$150 billion >> man >> the last one they're expected to do before they go public, ant financial. >> geez. that's exciting. that stock has been creeping up every day. so hot the rest of the market has not been that good >> this listing in hong kong, people are -- >> dual list >> yes and altaba which owns 15% of alibaba. what they'll do with it eventually to figure out a way to monetize. >> exciting times over there when you talk a lot to data center people, alibaba comes up constantly it will be a world collision walmart with flipkart wants to get into that worlds collide >> dow is up almost 100 points here let's get to bob pisani. >> the news has been better since the jobs report a while ago. we saw this today with the cpi subdued inflation. that's a key story for the bulls. they're regaining control of t

betty: amazon takes its fight with alibaba to its rival backyard. are hiring in sydney. they are chasing postretirement dollars. david: a very good morning. good evening to you in new york. you talked about u.s. equities pushing higher and also about emerging markets being under pressure with you rising yields we put -- with rising yields. we put a chart up. msci eme m. in recent history, the relative value, the concept kicked in. that stocks imagine went higher from here because we are now at the feelings. in other words, if emerging markets improve, that bodes well for the u.s. if it does not, that is a bearish sign. betty: it might be indeed. where emerging markets trade needs to be accounted for risk. the risk right now, we heard reinhart.rom carmen these rising yields, rising rates might force central banks in emerging markets to raise rates faster. that could be a risk. that to the first word news with paul allen. st. louis fed president says policymakers have no business flagging strategy weeks or months in advance because they had -- they do

here to tell us more is kailey leinz. >> this was a blowout quarter for alibaba, blowing out estimates1%, the eighth straight quarter they have posted revenue growth's of more than 50%. billion worth of merchandise, $105 for every person on the planet. 617 million monthly users that are active, that driving the sales number. they forecast more revenue growth next year and see revenue growth of 60% coming in 2019. a big part in the clouding -- cloud computing business which grew 102% this quarter to a record. mark: what is next for the company? >> they still need to work on profit, growth is great and very strong. it has been consistent, but profit come in the cloud computing business, a grew a lot but it lost maker. not the case for their peers like amazon and google. online cloud computing is a profit driver for those companies and not the case for alibaba because they had to invest in networks and systems to get growth. they need to figure out how to make money. they are investing in other businesses, jack ma pushing to the offline to deliver meals to customers at homes and a retail

look at companies such as alibaba, they're trying to expand to come to the u.s.re as well. chinese company realize that it's more unpredictable and therefore more likely to expand to other emerging markets in india, middle east and eastern europe we actively invest in both geographies. as early investor in alibaba, we agree we should help more. >> tsai talked about how they're open for business and want to partner with american companies who want to reach the chinese market how do you think about that when you're looking at portfolio companies and their opportunity to move into china >> it's a ridiculously awesome market we probably think about investing in china i'm envious of the alibaba position incredibly accelerated place, you can see them go to places relatively wise. but we are also looking at how can we help our companies do business in china? carmen chang, first female general partner in 40 years. very well networked there, spends a lot of time on the ground look at joint ventures and partnerships as a way to help. when you can do that with the best amer

betty: china's biggest ipo since 2015, alibaba, tencent, baidu by into soft comes plans. hello from hong kong where it is past 6:00 a.m. in the city. this is daybreak australia. we are two hours away from the open of asia's first major market. haidi: it is past 8:00 a.m. in sydney. we will look at how all the action on wall street will play into the asia-pacific trading day. it is geopolitics, this roller coaster of emotion that continues. it was off, we had the abrupt decision from donald trump week, calling into question the behavior of the north koreans and calling off the singapore summit but over the weekend, dramatic development. we had the surprise meeting between north and south korea, the latest -- leaders there, and donald trump we can be on track for this june 12 day in singapore. let's look at the markets because not much of a chance to get a reaction when it comes to u.s. markets, being off for memorial day. u.k. also closed for the spring bank holiday. this is how it was friday, like volume kind of session, the dow s&p theoff .25%, the same. we had energy st

it's 17% weighted in alibaba 41% in tech.f, it's almost in lockstep with it i think it's an interesting reveal on how emerging markets have become tech as opposed to heavy industries >> that's a big percentage mike, thanks >>> when we come back, goldman sachs chief economist is going to join us i was a c130 mechanic in the corps, so i'm not happy unless my hands are dirty. between running a business and four kids, we're busy. knowing that usaa will always have my back... that's just one less thing you have to worry about. we are the cochran family, and we'll be usaa members for life. ♪ when i first came to ocean bay, what i saw was despair. i knew something had to be done. hurricane sandy really woke people up, to showing that we need to invest in this community. i knew having the right partner we could turn this place around. it was only one bank that could finance a project this difficult and this large, and that was citi. preserving affordable housing preserves communities. so we are doing their kitchens and their flooring

shares of alibaba were off to 198 even. shares of zto popped 8% to $20.82. >>> elsewhere, petroleum and natural gas producer sand ridge energy is urging shareholders to vote for two of the four shareholders that billionaire investor carl icahn has recommended. icahn who is the company's largest investor is attempting to gain control of sand ridge without paying an appropriate premium. shares were off a fraction to $14.05. >>> after the bell tonight h.p. said that stronger demand for its laptops and desk tops help sales top expectations. the computer maker also raised its revenue outlook for the full year. shares were initily higher i after hours. they ended the regular session down about 3% to $21.30. >>> also after the bell tonight cloud software company sales force reported stronger than expected earnings thanks in part to a rise in subscription revenues. the company also gave upbeat sales guidance for the current quarter and it raised its full year forecast as well and shares initially traded higher in the extended sessi

>> there are three players, alibaba, amazon, and walmart they are going to divide up the world. >> arting thought. >> walmart has to continue to build that business on line. they have to be a dominant player in the states they can't give this away either they have to be the biggest competitor to amazon wherever they see amazon because they have to be in that space and winning that space on the other hand i don't think anybody can really compete with alibaba where alibaba is but if you are in there first and you have a bigger customer base at least you have a fighting chaps, like in places like india. >> what do you make of the sears deal with amazon the stock is up, it's low so any move looks like a big gain >> it's not good enough to save the business but it is going to put value into die hard. the tire and battery centers that nobody would have ever bought might actually be somebody buying it now. >> because of the relationship with amazon. >> because now it would have some business. >> got it. >> simple as that. >> jan, good to have you. >> thanks, courtney. >>> the ten-year yield

will likely pass that number you have to go back to alibaba this is the biggest since alibaba in terms of the dollars being floated if we stay in the mid range. finally, just to follow up to my interview with gary cohn yesterday, i asked him if he felt there was any unfinished business since he left the white house two months ago. >> one thing we regret in not having been able to do in the original tax bill was the personal side expires. we would like to go back and make the personal side permanent. we believe that the individuals deserve a personal tax reduction and we need that to be permanent. we don't the president to expire. >> i asked him about job offers. he's gotten a lot of them but he's been intrigued by one in particular he described it as not a public traded company but not a charity. i pressed him and he wouldn't tell me. hopefully we'll get information fairly soon. >> good stuff. bob, thank you >>> at&t and novardis confirming they made payment to michael cohen's firm we are outside the white house with the latest. >> reporter: good morning. i asked the white house offici

back in 24 -- the largest listing since alibaba.o we have enough liquidity to keep that listing supported, and also the overall market. not sounding too optimistic over the short-term prospect of the equity market. thinking will only retest the recent highs in the second half. a few names were following across the region, airlines in india, were getting a massive sell down when it comes to consequently, and earnings miss across indian airlines. and when you have a lot of these infrastructure industrial related companies in south korea also seeing a fair amount of selling following the rally earlier in the become essentially the -- people taking their money off the table following the north and south korean trade. a lot of the companies were up 19 or 20% in recent days. traders are quick to pull the trigger here on the slightest hint of negative or bad news. it does not exactly bode well for market sentiment. it explains why we haven't really seen equities built very much. back to you guys. manus: david, thanks for the roundup from h

there is competition between tencent and alibaba.pending, lazada, financial, they took a stake in the internet finance giant. .hat said, analysts are bullish dive into the bloomberg one more time. the analystow you recommendation function. green on the screen. hold,are 48 buys, one zero sells. the return potential is near the against the 12 month price target. and we were looking at the pde ratio. this is about 50, compared to amazon, which is about 250. regardless of the revenue, analysts are bullish. all right. thank you so much. next, we will preview the second day of china-u.s. trade talks with a former clinton treasury official. this is bloomberg. ♪ i am paul allen in sydney. betty: you are watching "daybreak: australia." officials are set for a second day of talks friday in beijing after a positive start to negotiations. chinaget to our correspondent for more. how have the talks been progressing? m: the u.s. delegation arrived yesterday at the u.s. embassy behind me where they met with the ambassador and then went on to the tal

we did get earnings out of alibaba on friday. does that filter into the life of tencent?will see in 20 minutes from now. heidi ? of course with the bank of england being a highlight, that move was -- has pretty much disappeared. get what traders are calling maybe a hawkish hold from the bankers, anglin governors later. we are looking for direction. a lot of the pboc is saying liquidity is wonderful. let's get it to sophie for a look at the open in hong kong and in shanghai. sophie: kicking it off and was happening in shanghai, benchmarks rise .2%, the biggest boost coming from banking and energy stocks. kong, the hans saying is snapping a three-day decline. focusing on chinese consumer names after alibaba sword friday after posting better-than-expected earnings. , alibaba regained its title as china's most viable company, overtaking tencent which might deliver weaker profits on may 16. margins also under pressure for tencent but rising investment in ,isual content, as well as ai but tencent is gaining ground of a 1.4% in hong kong. the biggest boost to the benchmark there

since chinese e-commerce giant alibaba launched on the new york stock exchange in twenty fourteen in the first quarter of this year show me sold twenty eight million smartphones worldwide eight point four percent of the market. now anyone who paid attention in geography class the gobi desert is huge dry and freezing cold it's also considered the most fertile part of mongolia with china's community of wine lovers going by double digits every year why don't make wine there. a vineyard on the edge of the gobi desert in the spring time the great finds are cleared off after spending that cold dry winter covered in protective soil it takes several weeks to resurrect the vineyard which is artificially irrigated but even if no one funky isn't at all put off by the challenges. ok even though it's expensive and complicated we said let's do this we want to be able to make our own high quality chinese wine since setting up the con and winery in the new province seven years ago one fung has been granted a number of accolades she discovered her love of wine in germany where she lived for a decade

alibaba got better than targeted online ads. from the core business.enue more than doubled. that is your bloomberg business flash. david: we are 15 minutes away from the april jobs report. that is after a relatively disappointing march that a lot of people think was an aberration. cogan and alan krueger. knoll does a lot of things for residential and office. thehave a viewpoint into office across america and beyond america. are you selling more office furniture? our people -- our people hiring more people? andrew: we have been working hard to change the business. 60% of our revenue is tied to the office world. we are seeing an interesting stop ason will employment gets tighter, the pressure to create environments that retain talent, the workplace is becoming a tool to recruit office workers. increasing investment. though it is happening in different parts of the office, it is an increase in investment in the workplace. workforceigher drives your business because they are competing to keep them. versus a mix of social individual areas in the office is c

. >> alibaba is going from clicks into brickses. do they need to keep pace?u know what, i think that each of the two companies are kind of going into different directions. but i think that's ok. you know, alibaba has the content where they are wriring dart store and to be part of their echo seasonal as well. there's plentoy of business to be had for both of them. and the strategies it would be ok. >> it feels like national lip getting this model to be replicated successfully falls apart when you take at look at logistics and vainlt. because you don't have the level of service and convenience that you have in china. i suppose amazon being the exception given how vertically interested it is. but further, they start to fall apart. >> when you think about logistics, it depends on what the coon assumer in each of the regions is willing to accept in terms of length of delivery and that type of thing. so forever, it's ok for someone to set in days in order to get a pax adge. it just depends where you're at and what your expectations are but i don't really see that a

although its computing venture is growing it is still not big enough to compete with the likes of alibabat they have much bigger problems, that is how it deals with mounting debt. they have tried to focus on mounting debt. they have tried to focus on revenue mounting debt. they have tried to focus on revenue growth without bearing in mind that you need profits to pay off debt and acquisitions. in the past they have managed to hide their liabilities. the patient deficit and payments to google. but as we say, we think it is close to being in the death spiral and it will need complete restructuring. and what about the pc business? it has been its bread—and—butter over the last decade. is it not a good business to be in right now? it is an ok business to be in that very tough. you have three global players like hp, dulland you have three global players like hp, dull and lenovo, you have three global players like hp, dulland lenovo, slugging it out. others do not have big businesses with cash, but lenovo suffers from overreach —— dell. too much broad expansion funded by too little cash flow. w

invested $20 million in ally alibaba. made you feel this was worth putting $20 million? business plan. little revenue. employees maybe 35 or 40 employees. eyes was very strong. eyes. i could tell from the way he the way he look at, he has a -- his business model was wrong. the way way he talked, can bring young chinese people following him was famous you! made early investment. how did you hear of yahoo!? >> u.s. was still private, 15 employees. i convinced them to take investment. of --the time we negotiate to 35ed it grew from 15 people. $100 million. i convincedtime, start adventure. we put $.1.2 million. they put $0.8 million. >> let's talk about one big mistake you made overall. very successful in almost everything you touch. you were making lot of internet year 2000, around 1999, 2001. market went down and the tech crash. it is said a you personally lost of net worth. greatest loss that any human suffered. how did you feel losing worth?lion of net >> before that, my net was weekasing $10 billion per for three days. gates.e richer than bill >> did that upset him? >>

walmart went and bought masayoshi sun and sold this stake and masayoshi sun is also an anchor in alibabace seems to go easier. india isn't an easy place to do business. india is getting better but it isn't there yet. narendra muggy is trying to roll out the red carpet, he once be direct foreign investment and walmart has its stake in the ground —— money. walmart has its stake in the ground -- money. he needs to address issues in respect to the ease of doing business. let's talk about this story in the sun, a very emotional interview with scott mitchell, dedicated husband of dame barbara windsor. here in the uk she is a much loved actress, she is a national treasure. i know around the world she may not be that well—known. world she may not be that well-known. she is part of our collective memory, you know? it is just heartbreaking. it is heartbreaking, it is sad. i'm glad heartbreaking, it is sad. i'm glad he is doing this, he's giving this interview, because it affects so many people in this country and the world. she's been secretly battling alzheimer's for a little while but his concer

we are hearing from affiliates alibaba and tencent investing in the company.says they are spending the equivalent of $2.15 u.s. a share on 20 million shares ahead of the upcoming shanghai listing. still ahead, central bankers around the world are calling for independence from politics with fed chair jay powell leading the charge. more on what was said, coming up. 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. david: 7:30 in the evening, sunday in new york. we are approaching summer quite quickly. it is dry, the holiday weekend, markets closed monday for memorial day. futures pointing slightly higher across the board, dow jones, s&p and nasdaq off. yvonne: and it

they are putting themselves against alibaba and tencent. david: it really does beg the question -- this will depend on the price being roughly speaking of how much they want to raise and how much the valuation will be overall -- but if i'm an investor, what am i buying here? is it a smartphone maker? what is it? tim: it is a unique business model. i think the closest i can come up with is that -- is actually made two, smartphone maker, which says they are an app maker. they do the beauty apps. most of their revenue is in smartphones. a vc investor.s if you look at the operating line, most of their operating profit comes from the elongated fair value of investments. numbers, ifough the you strip out the operation profit from its investment, they are investing everything from coffee makers to leather group -- leather good producers. that is where their operating profit is coming from. you need to look at them like a softbank that is really out there. there investing on other companies. that is one of the ways people will be investing and deva

alibaba is warning the u.s. would suffer in any potential trade war with china. the cofounder and vice-chairman told bloomberg that beijing would retaliate against american tariffs and both sides would suffer. president trump has there and a range of measures, $150 billion against china. heard awould actually lot of jobs in america if there is a trade war. the tit-for-tat trade tactics will cause a retaliation. in fact, in china, they had just put on tariffs on soybeans. it will hurt american farmers. haidi: a very quiet session across asian markets. most a closed for may 1 labor day holiday. no trading in hong kong tactics will cause a retaliation. in fact, in china, they had just put on or mainland china. south korea also closed, including singapore. let's take a quick look at the markets that are trading. we are seeing australian shares with the earlier gains. getting closer to the rba decision. no change expected in that cash rate. expected to be left at hold at 1.5%. the aussie dollar close to the december lows. taking a look at the action in japan as tokyo

well this vote is being seen by many as a kind of a referendum on prime minister hyder alibaba. but yet he does face certain tough competition why is that. yes. because buddy today is being questioned by a lot of iraqis because as an example he said we defeated i-s. but if you look today in iraq you have a lot of terrorism happening in different countries alone today here the elections on my way to this to displace where i'm standing now where does that where is that action is happening you have a curfew no one is allowed to be with their cars people are walking like really far from different places in order to be able to elect and this shows how in secure location is and how and how security is playing a role and all say ok how is the how he is doing this election sometimes there is insecurity beside that you have to look at the corruption iraq according to transparency international is that the last place is concerning corruption so people say there's a lot of corruption what is he doing exactly going again to the north to mosul people say one year after that they are not doin

alibaba is seeing sales rise 50% ahead of the 22% projected by analysts.tie up with a major copy rival. it is close to a business that sells beans in supermarkets. a deal will be announced monday. nestle recently added a niche brand, food bottle coffee and chameleon cold brew to its portfolio. first cash profit of $3.2 billion and will they an interim dividend of 94 cents per share. cash term equity 14% with net interest margin of 2.17%. asked really is banks have been under pressure, and the royal commission examines claims of conduct. betty: disney's latest avengers movie is the fastest movie ever to notch $1 billion in global ticket sales. they turned around the year's box office even before opening in china. it topped sales for the second weekend in a row, generating $112 million. it has a clear run. the release of dead pool to his out later this month. haidi: that is a must it for daybreak australia, but yvonne and betty are not -- her up next. rishaad: we got through a heavy week of data as well as u.s.-china trade talks. where is that for asian equi

date yet there is speculation it will take place in july and it will be the public offering since alibabatement and optimism, there are still some investors who are concerned about the slowing smartphone market but xiaomi, more than 70% of its revenues comes from smart phones. —— that could hurt xiaomi. recently, a slowdown in smartphone sales has been forecast. all right, thank you very much. let's squeeze in a few other stories. the commonwealth bank of australia has been forced to reveal it lost the records of almost 20 million accounts and decided not to inform its customers. following a report by buzzfeed, the bank — australia's largest — admitted it had lost two magnetic tapes containing 15 years of data on customer names, addresses and account numbers, but no pins or passwords. spotify shares dropped as much as 9% after the music streaming giant's results disappointed investors. in its first set of earnings since it listed on the new york stock exchange, spotify said revenue rose 26% to $1.36 billion in the three months of the year. just as a really quickly, asian stocks are mixed.

. >> a lot like alibaba. >> they could not let alibaba and amazon own india if they were going to be serious on the world stage. india is either the best market going forward or second best going forward for retailing. walmart has to be there. i was stunned when the market said we'll take you down 4% because this thing loses over $1 billion a year >> didn't stop them from buying jet.com which was losing money >> yeah. the online company they paid 3 billion for? >> this is almost five times the size of that this is the biggest deal ever that walmart has done. i think it's important to point out, we have before, that walmart only has these 21 cash and carry locations in india they're basically selling to other small businesses it's because of the local indian government regulations that restrict foreign direct investment walmart would have a hard time going into physical retail in india. e-commerce is growing. go to the biggest player already there, make them better. >> courtney being kind they were a flaun-entity in india. now they're the biggest player >> this does not mean there wil

. >> steve >> alibaba buy it stay long it. >> karen, good luck or footlocker. >> disney. plenty of time now >> by the way, lennar is up 2.5% after hours. messa lee. thanks for watching. melissa ler watching see you back here tomorrow at 5:00 for mar fast. "mad money" starts right now >>> my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now >>> hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to save you some money. my job is not just to entertain but to educate and teach you so call me at 1-800-743-cnbc or tweet me @jimcramer. >>> i know it sounds strange, but the stock market is having a real hard time evaluating anything, anything at all. and putting a dollar amount on it every day this plays out, including today. the dow lost 75 points s&p 500 declined .12%. the nasdaq .02%. it's driving me crazy. this morning, our market opened down badly because the japanese and europ

he dismissed questions could bee largest since alibaba about capital requirements. >> we are going to youtube. these questions are so dry. they are killing me. that is your bloomberg business flash. thanks very much. haidi lun in hong kong. we are moments away from the open of stocks. bit we are having a little of an issue with matt's camera. we will fix that. let's talk to -- about what is happening in the equities story. i am hoping that camera is good. let's talk about that. about what is happening with that stock. guest: the company is making a bid for victoria. the company has completed its acquisition of the austrian developer but they have enough for four more. a 900 million euro and the bid price 7% above yesterday's closing. above the bid.million we will see if there is a bidding war coming up. guy: the focus is what is happening with the numbers and what is happening. the social committee a -- media community are focusing on what happening with kanye west. how are the numbers received? guest: the numbers are good so revenue was lower and profit was better. it is a football w

there are those out there that say someday, alibaba itself could be worth more than some of the largest economies in the world. - healthcare services and technology. these are the sectors in the future that are growing. if you look at any of the stock market indices in china by sector, those are the sectors that continue to enjoy the greatest returns. - they're not just assembling things for other people, but inventing more at home, or at least moving higher up in terms of the types of products that they make. rator] china or at least moving is investing abroadof on a massive scale. its overseas foreign direct investment or ofdi rates now outpace those of the world bank. - it wasn't until there was such a large buffer, such a large reserve of dollars and euro and yen and other people's currency that beijing was finally comfortable with the idea of letting its firms take that foreign currency and use it to make investments abroad. - in this course of making china an export platform for companies from all over the world by keeping its currency low. when they exported those goods, they rec

. >>> alibaba s in the commerce and cloud commuting led investments weakened the operating margins but it was focused on the e-commerce's giant's belief that it will help the robust sales. >>> a rise in online sales helped results bea estimates at vf corps, but the jeans business weighed on the shares. wranglers and lee reported softer demand for jeans in the quarter and sd it expects those sales to remain flat through 2019. shares fell 3% to $76.27. >>> cbs vice chair redstone is walking back heran d that the viacom ceo must hold a top produce position if they merge. she wanted bakis to be second in command to les moonves but that's something that moonves hasso resisted. ow reuters says she has dropped that demand because she iset eager to a deal done and she wants negotiations to advance. and bothtocks were higher on that news. viacom shares rose by 3%. shares o cbs were up by 9% today. >>> and shares of cyber security company carbon black made the debu company priced 8 milli shares at $19 apiece. that was the high end and it valued the company at more than $1.5 billion. and it was a