we lead off with alibaba chairman and founder, jack ma. he has been turning his focus to charitable giving. he spoke with bloomberg's correspondence in september about his vision for philanthropy. >> we have so much talent. i worry if we do not put that kind of love, respect, responsibility into our business model, this giant alibaba could destroy a lot of things. it could do good things, bad things. technology is very cold, but you have to make the organization warm. people are warm. >> are you succeeding in that mission? >> 10 years when i said we should put a portion of the total revenue of alibaba to protect the environment, at that time nobody cared. 0.3%. you have no revenue. go ahead. now, we have such big revenue. we have to do this. it is not 0.3%. it is the revenue. >> in terms of technology, how do you bring that into play? >> everything we taught the students in the past 100 years about knowledge, science, in the future we will teach about innovation, how can you do the things machines cannot do? that is about education. i'm th

apple, alibaba vm ware? >> good question >> vm ware were you not asking me. >> i wasn't but you play. >> guy was taking too long to compute. >> go ahead, guy. >> i'm still thinking it through. >> all right. >> i'm going with vm which are you see the outperformance in that in a down market mm relative for the s&p 500 the growth is okay valuation okay but when you see something in a market like this doing quite well, that's the one you want to stick with. >> have you thought about it. >> i figured it out. you have three choices >> yes. >> and the would i rather rather i'll stand by -- i think president trump's tweet about apple a couple weeks ago will put in the bottom. i think that came around 173 or so so in the game you just put forth, apple. >> coming up, the trade truce is on maybe. but will it last we tell you what president trump said that has wall street questioning a real deal. check out the mystery chart. the stock not only ended in the green, but vastly outperformed the market in the last two months

alibaba and amazon are bumping heads.atforms converge, that is competition. >> the trade war element -- guest: it has not affected the stoxx. google has a minimal presence in china, facebook has no presence. amazon has a small presence. it has impacted more negatively the chinese stocks. >> pleasure to have you, thank you so much. joining us in sydney. trading in new zealand is getting underway. we are expecting a muted start to the session as we fade -- as we saw the fade in the afternoon to the u.s. rallies. kiwi dollar one of the laggards overnight as well as sydney. about .1% higher. watching the aussie dollar as well as looking to the end of the week, which is filled. lots more to come from "daybreak: asia." >> a very good morning. i am haidi stroud-watts in sydney, where australian markets have just opened. shery: i am shery on. sophie: and i am sophie kamaruddin in hong kong. welcome to "daybreak: asia." haidi: theresa may clings onto power after winning a conservative vote for confidence, but her brexit headache w

number one is alibaba. maybe it will be shunted aside when uber or lyft.mpanies, the have softbank as a shareholder. rishaad: it's amazing. visionary. [laughter] thank you so much. yvonne: coming up, crude continues to trade weakly. can opec and its allies turn prices and sentiment around? this is bloomberg. ♪ yvonne: let's look at commodities. we see sizable gains. we look at copper, up .5%. the metals, the industrial side in particular yesterday, they were disappointed by xi jinping's speech. we are pretty much steady as she goes. nickel a little bit lower. oil, that been about 7% drop we saw overnight. we are extending those losses. this is what we have been watching for, this glut. whether it is demand concerns play in the market right now, the futures spread is suggesting we could be seeing a bearish market over the next six months or so. rishaad: this is something we were looking at a while ago, the gap between the one in the six months futures. some people have been going rather short on the oil market. the path of least resistance is to the downsid

alibaba was almost cut in half. this is a company that bid $30 billion of sales in one day. i think mr. market is too depressed right now and we will bounce back. technically what is speaks fundamentally, i really do believe big funds look at q1 as a great opportunity to buy cheap. charles: scott, last time you and i spoke you made some shifts. you went into gold a little bit. you became more defensive. that is sort of the nature of the market. defense, even if you're in, caution. is that where you are right now? >> yeah, we are, charles. i would say more defensive with respect to volatility. you will get some good bang for the buck out of the s&p going forward. i love the comments, you and kk, that is kevin kelly, friend if you're playing at home, about valuation. that is where the crux of the market is 15 x on the s&p, we're about that fair value. if we have expanding economy still which i think we will, maybe resurgence in economic growth, more dovish fed next year, you probably have a reason to put higher multiple earnings number. we still believe in bold because it is t

we talk about tencent, alibaba a lot, but primarily chinese focused. huawei is a truly global company. david: and it is private, it does not garner as much attention as alibaba and tencent. dataave -- can we get please? $.87 on the dollar here. how do you think this will impact the larger negotiations between the two countries? -- theis not my swiftness with which the chinese have reacted, i would say they are not happy. david: of course that is the daughter's founder -- that is the founder's daughter. relations, strained let's look at sydney. , the price action has been swift. we are seeing u.s. futures fall substantially. is this all tied to this huawei deal? >> i think the markets were already nervous, and already troubled and understanding the differences between the two statements and where they did not match up. maybe not quite believing that te wecan't lease -- deten saw over the weekend. it is a very aggressive move against huawei especially given that meng is corporate royalty in china. it is illustrative of the fact that the trade truce we sa

alibaba with forty eight percent of the vote the austrian with a rocket over goldring barn units for nails thrashing of hanover and keeping his record of scoring in every season for the last eight years that was a way to do it. very nice indeed well that's full time for us we'll be back on. all the tough talking points from march they fifteen from these images from around the. fifteenth so for me and the rest of the team here in berlin by the way. hi. q a spectacle the festival of lights. comfort modern living in malta. the treadmill in the green right up to my house. the room next. to sleep waiting. for a lifeline to syria. the war continues to haunt those who flew in from syria. i'm trying to reach them but nobody has. the war on my phone. find me on w. your linked from africa the world showing us on facebook w. africa. germany state by state. the long list. of the most traditional. at any time. check in with a web special. take a tour of germany state by state on d w talk calm. i want to welcome to our highlights edition with me your host making money we are highlighting some exci

alibaba with forty eight percent of the vote the austrian with a rocket over goldring bar next for nail thrashing of hanover and keeping up his record of scoring in every season for the last eight years that was a way to do it. very nice indeed well that's time full time for us we'll be back on sunday to discuss all the tough talking points from march day fifteen we leave you now from these images from around the bundesliga on match day fifteenth so for me and the rest of the team here in berlin bye bye . what's coming up when the book go to sleep you'll have plenty to talk about here . as cuts take a look at what all that means for the table of course. live the bundesliga every weekend here on w. a muse alex mcleish what's the one single. goal of the so-called shake up. but explain play. people put big dreams on the big screen. claim movie magazine on d w. look closely. listen carefully. don't look too soon. to do good. actually.

alibaba with forty eight percent of the vote with a rocket over goal join bar next for nelse russian of hanover and keeping his record of scoring in every season for the last eight years that washed away to do. very nice indeed well that's time out full time for us we'll be back on sunday to discuss all the tough talking points from march day fifteen from these images from around the. fifteenth so for me and the rest of the team here in berlin. and. this week's high. q a spectacle. the festival of lights in the. comfort modern living in malta. the treadmill and train ride to my. new home. roads and railways and the crowded what will transportation look like a century from now. when it comes to driving us into the future. will most likely be zipping down that at the speed of sound. today's bright idea is coming off tomorrow. in the forty five. k. . you know this is you five minutes four minutes. past the hour and you the. national. he fits in the pantheon of the great tennis certainly he's one for the ages. of. ten or fourteen. starts december twenty second on t.w. . i want to welcome

tom mackenzie spoke down with him to discuss life after alibaba.upid one-day like anybody. so, what do you do when you retire, you die in a car accident, then the company is gone. you half a country, a group of people, they can believe the vision we all believe. this is being built for 10 years. down as ceo 2013. five years passed, things are good, shareholders happy, customers happy. confidence in my team. full confidence in the structure, which a lot of investors don't like. hong kong don't like, new york don't like. i think this is the contribution that i and my team built for this world and people in the future will love it. it can make the company last long. tom: you said you want the company to last 102 years. you think that can still happen if you step down? jack: of course. i cannot be ceo for 102 years. so, we have another 83 years to go for this company. why not? let it go. fullyu have to be prepared for this. just like a kid. 18 years old? kick them out. you cannot hold them all the time. i went to africa. age, kicknt, certain them out.

alibaba with forty eight percent of the vote the austrian with a rocket over goal join bar next for nelse rushing of hanover and keeping up his record of scoring in every season for the last eight years that was a way to do it. are nice indeed well that's time full time for us we'll be back on sunday all the talk talking points from march day fifteen believe from these images from around the. fifteenth so for me and the rest of the team here in berlin. humus spectacle. the festival of lights. comfort modern living in. you up on treadmill and brain right up instead of my ass. the moment. to do it pencils more transforming the world is humanity ready for it. this time entrepreneur in asuncion follows the new money to the. web digital cast service is changing traditional banking. but do the advantages of couteau currencies outweigh the risks. the dream of new money. in sixty minutes. how do you want to live in a radical way discover the bauhaus go home house world church january thirteenth on the w. . time for an upgrade. how about furniture that grows all buying. a house with no roof. or de

alibaba with forty eight percent of the vote with a rocket over goal join bar next rushing of keeping his record of scoring in every season for the last eight years that was a way to do. all the tough talking points from fifteen from these images from around the book on march fifteenth so for me and the rest of the team here by. this time entrepreneur. the new money to the. british to cast service is changing traditional banking. but do the advantages of cryptocurrency help with the list. you dream of using. next. year and then this week's. q a spectacle of the some of life's elite on. comfort modern living in malta. in trenton in fremont benedict. the moment sixty minutes from the. mobile. sleep. cheerfully. don't suit the needs to be a good. discovery . subscribe to the documentary on. the country. a small amount of the sun why did you go to. the bring it over. and out into the fold the make money. they money for people who are so we need the rest of the investors saw it first they will offer minimum of two hundred fifty of us either so as a start up investment.

alibaba with forty eight percent of the vote the austrian with a rocket over goldring barn units for nails rushing of hanover and keeping his record of scoring in every season for the last eight years that washed away to do. very nice indeed well that's time out full time for us we'll be back on sunday to discuss all the tough talking points from much take fifteen believe from these images from around the bundesliga on match day. so for me and the rest of the team here in berlin by. this time entrepreneur in the sunshine on news the new money to the movies with digital cast services changing traditional banking. but the advantages of cryptocurrency outweigh the risks. the dream of new money. next. what keeps us in shape what makes us sick and how do we stay healthy. my name is dr carson he could i talk to medical experts. watch them at work. and i discuss what you can do to improve your health. stay tuned and let's all try to stay a good showing in sixty minutes. how do you want to live in a radical way discover the dollhouse go to house world church january thirteenth on g.w. . germ

i look at any problem with alibaba will happen for -- i don't think any problem with alibaba will happennce in my team, fully confidence in our structure,, the party structure, which a lot of investors don't like. so perfect. it is the system which i think is the car question that -- the contribution that i and my team give to this world. it can make the company last long. >> you said you wanted the company to less 102 years. you think back and still have been if you step down -- that can still happen if you step down? jack: oh, of course! i can't be the ceo in 102 years. we have another 80 years for this company. why not let it go? you have to be fully prepared for this. just like kids. 18 years old, kick them out. i went to africa. the elephant -- kick him out. make him live independently. of hours, butid it does not belong to me. it blocks is society. let them go. she belongs to society. let them go. i love this kind of thinking. >> your key investors are aware and content and happy? ck: i am very happy. people are happy. abigail: that was jack ma speaking to bloomberg. let's get a ch

this makes it the world's 2nd—biggest share sale after alibaba in 2014, but this is notjust an initialld possibly be something which ends up changing your life. here's how. 1 of the things softbank doesn't this cash is investing future technologies and artificial intelligence. instance, it is making robots to help humans in their homes, shops, and even in schools. hello, everyone. it also runs a $100,000,000,000 investment vehicle called the sight fund, led by the softbank founder. he is putting cash into companies transforming many aspects of everyday life. they can ceta cea n. aspects of everyday life. they can cetacean. together with toyota, he has invested in self driving vehicles that may one day act as hospital shuffles or mobile retail shops. he is also acting artificial intelligence in healthcare to do things like predict disease outbreaks, at softbank is not without controversy. it is sticking without controversy. it is sticking with the saudi arabian government as an investment partner, despite the outcry over the murders to that dashmac murder of a journalist and optionaljee

you have invested in facebook and alibaba and flip card.ou think is the next big thing in technology and where is the next big thing in terms of the hot region for tech investment? yuri: if you look at the addious 10 years, if you u.s. and china, that would be 90% of all value that was created in the internet. 3%, the rest of the world around 7%. you would think that europe should be doing much better in the future, sort of catching up with the u.s. and china. i think china can increase their as chinese companies go global. i think we will see more value accruing to chinese companies. emily: more than the united states? yuri: well, that remains to be seen. i think the amazing success that u.s. companies have enjoyed were really based on the fact that they are global companies. emily: what about technology, social networks, and ai? or is it ai? yuri: it is ai. ai, really cutting across pretty much horizontally across all technologies. different company will become an ai company. brad: that was yuri milner. san francisco passed the so-called

selina: alibaba has its own credit scoring platform for buyers and sellers.he chinese government is trying to create their own system. there has been a lot of confusion between the two. is the government going to incorporate private sector data in this national plan? >> they may, but a lot of those claims have been overblown. the government has not done much but say they have considered doing one. a lot of these private companies are building one with their own current platforms. sesame credit is the widely used one because it has a tight integration with the most use mobile claimant platform -- used mobile payment platform. if you have a high enough credit score, you can unlock a bike bike if your-- credit scores high enough. for this national system, what are the metrics that determine if you are trustworthy or not? >> i think that's where the controversy is. a lot of these metrics taken into account are where you went to school, do you have a criminal record, have you repaid your loans. a lot of data points in the u.s. are considered as personal privacy is

stock market is raising almost 21 billion euros, just shy of by world record set up alibaba. >> some new numbers have come out, showing the french economy took a significant hit from the yellow vest protests. >> they cut growth forecasts because of a slowdown in the business environment. .1% say the protests not off growth. for the whole of 2018, it says the economy would have grown at 1.5%. >> saudi arabia has announced spending plans for the next year. as it moves ahead with plans to diversify its economy away from oil, including up opening up new sectors to privatization next year. >> record spending for saudi arabia. battered by declining oil prices, the kindt -- the kingdom plans to boost expenditures. today, the king has directed a continuance of monthly allowances to offset the high cost of living, which go on until next year. the government said next year's deficit would fall to 4.6% of gdp with a major chunk of state revenue at 68% continuing to come from the oil sector. to crown prince has vowed diversify the economy. it has seen employment hit its highest level in a decade

now this makes it the world's second—biggest share sale after alibaba in 2014.ipo or initial public offering. it could possibly be something that end up changing your life. here is how. 0ne of the things softbank does with its cash is investing future technologies in artificial into it in. for instance it is making robots to help humans in their homes, shops and even in schools. hello, everyone. it also runs a $100 billion investment vehicle called the "vision fund" led by softbank founder, affecting many aspects of everyday life. masayoshi son is investing in self driving vehicles that might act as hospital shuttles, or even retail shops. he is also backing ai and healthcare to do things like predict disease outbreaks. but softbank is not without controversy. it is sticking without controversy. it is sticking with the saudi arabian government as an investment partner despite the outcry over the murder ofjournalist jamaal khashoggi. and masayoshi son has a track record. softbank lost more than 90% of its value in the early 2000 dot com bubble. but he believes in

zst early founder yuri milner was an early investor in twitter before going on to back alibaba.ang sat down with at the awards and asked him just how optimistic he was about facebook's future. yuri: first of all i don't , believe it is an existential crisis. i think it is a little bump on the road. i think that facebook watch and instagram are amazing products with more than a billion people each. so you cannot really dismiss it. as an extension crisis. but i think facebook was and is an evolving system, and they've always been responding to challenges. and the challenges they are facing can be solved through a combination of human attention and artificial intelligence. elements, so you know there are , always bad actors who are affecting different products, but i think i feel confident that this will be taken care of through technology. you know it is a technology , company. emily: does it concern you that , you know the privacy, the , hacking, the potential election meddling, the fact that the founders of all the companies that you mentioned that facebook thought had gone one

selina: alibaba has its own credit scoring platform for buyers and sellers.nd to the chinese government is trying to create their own system. i think there has been confusion between the two. so is the government going to be incorporating private sector data in this national plan? david: they but a lot of those may, plans have been overblown. the government has not done much except say they have considered doing one. a lot of these private companies are building one with their own current platforms. so you mentioned sesame credit, which is the widely used one because it has a tight integration with used mobile payment platform. if you have a high enough credit score, you can unlock a bike without a deposit if your credit score is high enough. so it is more of a business decision rather than a government decision. selina: for this national credit scoring system what are , the metrics that determine if you are trustworthy or not? david: i think that is where a lot of the controversy is. a lot of these metrics taken into account are where you went to school, do

alibaba doesn't have much exposure in the u.s. it's interesting they did more in five minutes than amazon prime -- more in five minutes than amazon prime did the whole day. >> let's get a check on the markets now, show you what we're doing. off the best levels of the day the dow is still good formore than 200 points. s&p is up 22, 2782 there's the nasdaq up 90 final trades straight ahead. a february to remember, starts with a december to remember at the lexus december to remember sales event. lease the 2019 nx 300 for $329 a month for 36 months. experience amazing at your lexus dealer. and everyone i've ever opioloved away from me.thing everything. i blew my ankle out and i got prescribed pain pills by my doctor. if making my detox public is gonna help somebody i'm all for it. i just wish i would've had a warning. with the chase ink business unlimited card, i get unlimited 1.5% cash back. it's so simple, i don't even have to think about it. so i think about mouthfeel. i don't think about the ink card. i think about nitrogen ice cr

company operated stores, beginning in early 2019, starbucks does partner remember with alibaba in chinah elmay on demand food delivery. we got to chance to sit down with rosalind brewer on the uber eats announcement. here is what she said about future profitability. >> it's one fortunate things we evaluate because it does cost more to deliver coffee but i will see and tell everyone is that you you know we see an expanded ticket. and that average ticket is really what we need to see happen as we approach delivery we are encouraged but actually monitoring that very carefully. >> i also got a chance to sit down with the company's ceo. kevin johnson earlier in the day. he said right now his focus is on doing what starbucks does best and creating the big strategic partnerships that complement what the company does best from alibaba in china to the nestle global coffee alliance and now uber eats. back to you. >> thank you, kate at the starbucks meeting in new york city guy what do you make of starbucks and the push to delivery it costs a lot of money to deliver one cup of coffee. >> they took

it's owned by alibaba, one of the largest ecommerce companies on the planet.ent service in china. its chairman jack ma is now trying to reinvent brick and mortar retail by fully merging it with ecommerce. he calls it new retail. >> the entire experience at these stores is based around their app. you can scan every single product that they have on the shelves, for instance, with this lettuce, you can find out which day it was delivered to the store, at what temperature, on which truck and they even give you recipes for what you can make with it. but these people will also do your shopping for you. online orders show up on worker's devices. they grab the goods off the shelves and a conveyer belt whisk the bags to the back of the store. the food is boxed up and rolled out to a delivery driver who then brings it directly to the customer's house, all in about 30 minutes. >> china's become the laboratory for creating new models of innovation for online to offline retail sales. >> who's buying coffee right now? >> sean runs this research group. china is two to three

of -- jack ma alibaba speaking at the public forum in october, and he said, as did too young on printers from african -- two young entrepreneurs from african countries, we need the platform divided by others, google, microsoft, and others, including alibaba. we need the platforms or we can't develop things. in belarus, they have a very popular app. i do not know if they have it for their cell phones unless they had platforms on which to develop them. the world of e-commerce, does the alexander hamilton no shary -- notion of industry protection work? i don't think so, but it deserves some attention, because the cry on the lips of a number of folks in, from the south, of this southern hemisphere, is we need policy space, which means, don't put any obligations on us. let us do what we want. the soviet union and its member countries have policy space for 80 years before it disappeared. and its economy collapsed. it depends on what you do with policy space. the koreans have policy space and the japanese did, and it works very well. there are number of other countries who had lots of policy sp

become the majority of their business >> it is both so they talk a ton of their partnership with alibaba all over the globe they talk about the partnerships going on they're testing this program with amazon. they also do a lot of directive consumers and that's a huge progress their sneakers have grown rapidly and launch in places like japan which they pointed to became the number one app within weeks. it is a combination. this company is in ahmad ahmadm shift. they're seeing becoming a large chunk of their business verses wholesale, that's why they take out the futures order. whole sa wholesale is not a growth for them in stores >> no mention of amazon. >> not at all for europe europe were double digits for them they're seeing an economic slow down and probably taking market share from the likes of adidas that's the one risk here if they see a slow down, they're not preparing the market for that they talk about the fundamental strengths there. >> it is going to be a conversation starter next time we have adidas on. >> we'll watch nike all morning long when we come back, we'll talk more o

spectacularly and sophisticated if we werezation but to suppose that the tremendous success of a company like alibabaa reflection of chinese that's just not right. we were to suppose that kind of challenge that china is posing to us in art artificial intelligence becausege they have somehow cheated, that's wrong. if we're to suppose that the reason china has grown more rapidly, with longer, he's primarily about cheating. that would be wrong too. and we in the united states need to be or very clear. we're entitled and we are right to reject chinese cheating. chinese violation of the rules, rules that don't cover unfair practices. we're right when we're against that. but when our position is -- china can't succeed and that china is not allowed to succeed or somehow wrong for china to succeed that's unattainable position for us politically and unattainable position for us economically. and i see too many voices in this country who are slipping in to that position. you know, my friend warned about an economic iron curtain coming down and i think that was a valid warning but i would also a warn about a ne

ipos by a chinese company since alibaba. the shares 7.5% to $14 even. under armour sayed it plao cut the financial targets including in the u.s. where the company has been struggling to regain lost momentum opinion. the sports apparel retailer narrowed the outlook and plans to smift production away from china ahmed the ongoing trade tensions. shares fell 10%. >>> lowes plans to buy back $10 billion worth of stock. the new buyback plan adds to the existing 4.5 billion-dollar place. already in the home improvement retailer 2018 earnings he and sales guidance during today's investor day. shares rose about 3% on the new to 92.11 today. >>> and in a new filing pg&e revealed one of the power lines efs damagede the beginning of the massive campfire that happened in northern california last month. investigators have yet to determe were pg&e quipped caused the deadliest blaze in the state's history. the stock rose 1% today to 26.39. >>> amazon executive and a new york city official were questionedoday by cit councilmembers over the billion of dollars in incentiv

we had jack mom of alibaba speaking at the public forum in geneva and he said as stated to young punch retorts from african countries, we need the platforms that are provided by others by google and microsoft and others, including alibaba. we need the platforms or we can develop things. in belarus to have a very popular app. i don't know that they had that popular app for their cell phones unless they had platforms on which to develop them. so in the world of e-commerce that sort of the alexander hamilton notion of industry protection work. i don't think so. but it deserves some attention because the cry on the lips of a number of folks from the south in the southern hemisphere is we need policy space, which means don't put obligations on us. let us do whatever we want. the soviet union and its member countries had policy space for 80 years and its economy collapsed. it depends what you do with policy space. somehow the koreans had policy space in the japanese did and it worked very well in a number of other countries who opposed the policy space that didn't work well at all because do

this is japan's biggest ipo with more than 23 billion raised it was up there with the biggest ipo, alibaba back in 2014. 90%e of th0 million shares allotted is he set aside for retail investors. first time mom and pop buyers lookg to invest in the and ion like soviet bank the indication washe uptick was strong initially. but they were hit with negative headlines in the lead up to the ipo. earlier this month a software glitch left 140 million subscribers without access to data and voice. and there was the cfo of huawei detained in canada. the japanese kim out saying they woul no longer use chinese telecoequipment and encouraged private companies in japan to do the same. softbank is the elbow mobile carrier using huawei equipment. we did hear this afternoon they invested about h0% inwei equipment. they are now looking to switch over the 4 g equipment. and speaking to suppliers not just in europe but u.s. as well. putting the cost of that as a few hunillion yen. that's going to be a big concern for investors moving forward well. now one of the things that has made this ipo attractive is the b

now, this makes it the world's second—biggest share sale after alibaba in 2014.l public offering. it could possibly be something that ends up changing your life. here's how. one of the things softbank does with its cash is investing in future technologies and artificial intelligence. for instance, it is making robots to help humans in their homes, shops, and even in schools. it also runs a $100 billion investment vehicle called the vision fund. led by softbank founder masayoshi son. he is pumping cash into companies, transforming many aspects of everyday life. take transportation. together with toyota, he is investing in self driving vehicles that may one day act as hospital shuttles, or mobile retail shops. he is also backing ai in health care to do things like predict disease outbreaks. but softbank is not without controversy. it is sticking with the saudi arabian government as an investment partner, despite an outcry over the murder of journalist jamaal khashoggi. and masayoshi son has a mixed track record. softbank more than 90% of its value during the dot—co

orhe can buy something called altaba a result of spin i don't have that is a holding company for alibaba shares. another of his ideas, stock lsed mergers. investors have bek locking losses in disney shares and buying up the 21st century fox. the two signed a deal to merge so the shares will be combined anyway. lastly, any etfs. of an i vestor willlate the wash sale rule if he or shea bias different e tracking the same index. but what he or she can do is buy some of the underlying holdings within therk index to get exposure. but willen says one should not buy all of them going above say 450 stocks in the s&p 500 could cause an investor to lose t deduction. for nightly business report, leslie picker. >>> this was billed as do or die day for sears today. anyone interested in buying the struggling retailer out of bankruptcy had to have submi addy 4:00 p.m. eastern time. if no bids came in sears faced theossibility of liquidation. lauren hirsch, the consumer and retail reporter for cnbcelom. >> i canyou the sources told me at the very last minute somebody submit add bid. it's possible that se

so we basicallyjust went online and started searching manufacturers over in china through alibaba, andwe could build a relationship with. so you've never really opened a shop? the cash you need to do that isjust... it's very daunting. i think there's a lot better places to focus our cash than a store. by may, another big name on the high street was thinking that way too, a dramatic move to try to futureproof its business. these aren't any store closures. they are m&s store closures — 100 over the next four years. this is a tremendously difficult set of decisions, but what we've got to reflect is the fact that a third of our business will be online within the next five years. we've alreadyjust hit over 20% in the last six months, and i'm afraid that trend is not reversible. another trend was also emerging, the impact on jobs. we said there could be up to 900,000 fewerjobs in retail, and that the nature of the jobs that remained would be different. and what we're seeing now is some of that begin to play out. there are 80,000 fewer people working in retailjust over the course of this summ

alibaba is an incredible example.ions of dollars in one day and i can buy them at 30s 40% discount protheir highs, i am all in. stuart: i tell everyone that i did buy alibaba stock in the low 140s. i still own it. still hold it. i got to say that. you think this thing is going higher? >> i think you could say that safely, yes. i'm owner of alibaba. i don't plan on selling it for a long time. i plan on telling my kids i bought it in the low 150s. so you did beat me. we'll go well above all-time highs 12 to 18 months. this is incredible company at fire-sale price. stuart: i bought it after the china singles' day when they brought in 30 billion in one day. >> that's right. stuart: that is pretty good signal they're in business today, that is impressive. 30 billion in one day. >> i wholeheartedly agree. this is incredible company as more incredible price. stuart: i got one more. i don't own this one, i may after talking to you. newell rubbermaid. i remember outfitting kitchens 50 years ago with those kind of things. you l

over china is speed to china is heavily bureaucratic it's communist i mean even the guy who runs alibaba as a fricken communist jack ma and they are slow and us i guess are completely disagree have you ever watched you tube videos of them putting up a giant high speed rail train between shanghai and beijing in like three days like that is way faster in fact i'm going to point out a recent report by the new york times starkly illustrated the changing contours. in the global economic order it confirmed what many others have observed that china is on the way to surpass the us as the world's top economy during the one nine hundred eighty s. some seventy five percent of china's population were living in extreme poverty according to the new york times today less than one percent of the population is in that dire category for the us the trajectory has been in reverse with greater numbers of people subject to deprivation we see the u.n. special rights the human rights repertory coming here to look at extreme poverty there are lots of hundreds of thousands of americans living i want to two dollar

tom: it was a fascinating with the founder of one of the startups, backed by the likes of alibaba.ised about 1.4 billion u.s. dollars in funding. they unveiled and handed over their first model, the g3 to some of their customers. they plan to ramp up production's the in the next year. and they are taking on tesla factoryns to build a outside of shanghai by the end of 2019. take a listen to this conversation i had. ng motors, the investment ratio to r&d is higher than our peers. we need to deliver 400,000 vehicles to breakeven. being ayou see xpeng serious contender versus tesla in the chinese market? >> i expect we will be able to compete with tesla in the global markets in the next couple of years. is there a risk of overcapacity in china's electric vehicle market? will we get to a point where there is rapid consolidation? see ahink we expect to process in two years or more. i think this will lead to bigger companies. tom: is the financing environment more challenging for a company like yours? he: there is abundant free capital out there. is a new and smart industry. we are seeing

when you look at the discount that softbank parents have been trading at compared to the net alibabao!, now this. it begs the question, when you look at a massive amount of debt on that parent company, how does that drive? part of why we are seeing this they were aiming to narrow that gap. if we get a pop in the shares listing today might eventually get bought up, the value of that holding also goes up. there's also the issue of what you do with the money. it's a massive ipo. over $23 billion. you have the green show option. a lot of that money goes into the subsequent versions of the vision plan. that's fairly hard to value. kind of opaque. it comes back to valuation. the discount that the market attaches to the parent because of the risks associated with something. still not too tangible, at least. haidi: no wonder that we saw the parent really underperform here leading up to this ipo. if you check this g tv chart, you can see that underperforming k.d. di as well. some of the challenges you have already mentioned. outagesame time, we saw for their services that softbank. not to men

alibaba has been under pressure. one of the big holdings of softbank group and the vision fund. they are looking to ipo these big names like uber, which is still losing quite a lot of money. k, which is a loss maker as well. it will be challenging for efficient fund to take the stocks into the market for an ipo with a view that they will raise a lot more money. the saudi connection is another problem. we have an ongoing humanitarian crisis in yemen. moves in terms of sanctioning saudi money will have a detrimental impact on the vision fund, and the other thing with the vision fund is that now everyone associates the vision fund with saudi money, the question is how many will the willing to take that from the vision fund itself? rishaad: nintendo, good news for today. offer marvel to ultimate three, a new super smash brothers game debatin debo good reviews, but all is not good in the house of nintendo, 22% down so far this year? >> nintendo is another one of picks.rt sell we think the markets expectations for a lifeti

, alibaba -- people were saying it was a hybrid of ebay and amazon.e. tencent's messaging at has grown from a texting at to a platform for shopping, flirting, dating, watching videos, playing games, and ordering food in taxis. there's no u.s. equivalent. since the introduction of the internet in china, the government has controlled the web with a complex systems of sensors and gateways. it has effectively quarantined china's technology ecosystem, blocking access to the likes of facebook, twitter, and instagram. it has enabled locals to develop surfaces without competition from abroad, and build platforms with a unique flavor. due to china's large population, the companies grew to be massive. they became so successful that some u.s. companies are taking note. are think a lot of people trying to see facebook copy the we chat model, where they are allowing through parties to open e-commerce stores, through party games being introduced. >> but there's increasing push back. >> china. they are draining us, taking our money. >> president donald trump says ch

alibaba and tencent are huge but they are relatively confined to the chinese and asian markets. two mainuwei businesses we care about. with the phone business. the phone business has become one of the biggest in the entire world eclipsing apple according to some estimates as some of the most popular phones on the market. that is not what we care about. we care about the telecommunications equipment. all the talk is about 5g. usings that hauwei is some of the telecommunications equipment to spy on citizens in other countries. america, the u.k., australia. theses what all conspiracies originated from a few years ago when people looked into hauwei. that brings us to a doj investigation from the u.s. that started around april as we reported on bloomberg at the time. this arrest appears to be part of that. samm, it is impossible to not view this in the context of president trump meeting which he thinking. we'll know if the president knew about this arrest, but what you make of the broader signal that the fed -- signal that the sense to china? samm: this comes at a time when the u.s.

there have been some expectations that you get this alibaba singles' day bump because that was a bigt on the 11th of november. of course, we had the industrial production number coming in below the estimates well below all the estimates, 5.4%. we have the fixed asset investment number that would be one silver lining in this data set coming and above the estimates suggesting that possibly some of the stimulus is starting to play out. sayingd from the pboc that there is increased downward pressure and that the central bank is ready to provide support. ♪ juliette: you are watching "bloomberg best." i'm juliette saly. buying back as much as $3 billion in stock, marking the completion of the bank's three-year rebound under the new ceo who supervised a pivot from more volatile trading to wealth management. he spoke exclusively to francine lacqua about the buyback and credit suisse's turnaround. said that if they supported us, we would come to a position where we can return capital and we are pleased to return that point. >> shareholders ask for more buybacks and you could do it. >> it is n

they have a lot of companies like alibaba and tencent, and even american companies, strength has been hardware and equipment. these specialized chips are going to work for advanced artificial intelligence. they can process a lot of video surveillance footage. that is something the chinese government is going in with her huge plan to massively support the initiatives. emily: and part of the reason the united states has a security issue with this company. mark: the revenue split evenly. after money in china and half outside of it. we will see a shift where they will have to delisle domestic -- rely on domestic markets for sales. they will lean on the smart city initiative or the cloud and ai, selling equipment to build out that. that's hard to see how large that market can grow. emily: we will continue to bring you every twist and turn in this hauwei story. mark bergen, thank you for joining us. one billionpend dollars to expand its operations in austin, texas. they will build a new campus big enough to house 15,000 more workers. also announced it will build facilities in seattle, san d

>> first of all, we learned a lot as we launched our deliveries in china and partnership with alibaba of those learnings and shared them with dara and his team at uber eats the thing that makes uber eats the right strategic partner to us announcing partnership with uber eats was the fact that we had a shared view, let's make sure we integrate the technology that seamlessly flow from the order into the store and we applied some of the things we learn in china when we prepare bevers rages, we know how to prepare it at the exact temperature so by the time they hand it to their customers, it will cool down. >> next weethe federal reserve,r worried of full employment, they want to be sure there are enough workers going around without having wage inflation. both of you single handedly trying to pay your workers more. we should have workers be able to make in this country. >> i think that the fact that the economy now is doing very well for the first time you are seeing earnings go up. and, workers are allowed to make meteor show more money that's a good economic force we see it with our dri

chinese internet companies like alibaba and ten cent already analyze their cost in the shopping habits and share the data with the state. those who add here to the government's way of thinking may get a better credit rating for example or a cheaper apartment and those who don't cooperate get punished. the aim is for total state control. and in a cashless society that could become a reality. are you seeing this issue within the broader frame of digital technology more generally which is trying to monitor more and more things and bring more and more things that previously weren't monitored within the realm of formal monitoring . and of course that's always framed as being you know this is going to help you know people to get more services and so on but of course on the other hand it's a new form of control. could previously soon be a thing of the past. sweden is fast becoming a cashless society the country is famous for its openness and people here are surprisingly relaxed about privacy issues. a couple of years ago the barrier was set the sights there on online the way you can say where