for alibaba and for alibaba the to mid december.id december. for alibaba and for alibaba the holiday seasons are critical. i think it is a very calculated move from trump. i think he knows if you start to impact that holiday season trading, the consumer confidence will, you know, be absolutely key to take us to the end of the year. we still don't know what he will do as he is an unpredictable man but with walmart some interesting stuff is coming out. one analyst that caught my eye made the point about amazon's prime day, that cute discount david cameron a few weeks ago and how positive that can be for retailers like walmart, and i am the same —— that discount day on amazon a few weeks ago. they are actually seeing an upside on that as well. talking about the amazon prime day i would imagine alibaba's singles day is what inspired that for amazon. for alibaba that what inspired that for amazon. for aliba ba that is what inspired that for amazon. for alibaba that is a huge day. 2a is and they make billions. the world's biggest shopping

the chinese online giant alibaba will tell us how it performed in the first quarter.just a few hours later america's walmart, the biggest retailer in the world, will unveil its latest earnings. investors will be looking to see if the companies have been affected by the trade war between the us and china. alibaba, which is like amazon, paypal and twitter rolled into one, has a growing cloud computing service and announced its expanding its business—to—business service in the us. -- it is. $24 trillion, and alibaba wants a slice of that pie. meanwhile, walmart is proving it can do business on the high street and online. the company's e—commerce sales increased a1% in the last four quarters. it's also added 2,000 new brands to the website in recent months which has been a boost to profits as well as helping it take on rival amazon. but the big risk factor for both is the trade war between the us and china. alibaba wants to expand into the us which has become more difficult as the trade war rages and walmart relies on chinese imports to stock its shelves, so if those pric

getting back to the alibaba story, are you adding your allocation in terms of alibaba stock?at is your stock currently trading? target ise 12 month 219. mitchell: we bought stock yesterday before the quarter. if there were not -- if the trade war was not going on, this would be a 230-240 dollars stock today right the stock can double over the next few years and i think there is no better company on the planet over the next decade in terms of risk-adjusted return. this company literally prints cash, trades on a mid-teens earnings multiple. it grows 40% a year this company trades -- it grows 40% a year. all these software companies in the u.s. trade 20 times revenues. trades 15 times revenues and grows 40%. it is laughable. david: why is only 20% of your fund in it? mitchell: we could allocate more. i own a huge percent of my own personal net worth in it, too. i do not run the alibaba fund. have known these guys for a long time. alibaba at $6.75 a share -- a share in 2011. yvonne: how do you feel about the rest of chinese tech at the moment? is there more opportunity on the mai

according to sources, alibaba could all—time low.sources, aliba ba could lodge all—time low. according to sources, alibaba could lodge the deal as early as october, seeking to raise 10- $50 billion early as october, seeking to raise 10— $50 billion and that is when they think market conditions might become favourable again and tensions left. the deal could potentially upset beijing at a time when there has been so much disruption in hong kong. now let's brief you on some other business stories: ryanair is heading to court in a bid to block uk pilots from striking on thursday. legal action is already underway in ireland to try to prevent irish pilots from doing the same. the strike is part of a dispute with ryanair over pay and conditions. the uk government says it will automatically enrol british firms in a customs system, as it speeds up preparations for a no—deal brexit. 88,000 companies will be signed up to the system, which will allow them to trade with eu member countries following brexit. the us justice department says it is wo

alibaba is the biggest cloud computing player in china. that's seen as a bright spot for the future of the company. the other thing the street was happy about is alibaba's discipline when it comes to its spending not as exciting as food delivery and e-commerce, that's what wall street was looking at closely. margins have been under pressure the past few quarters as alibaba continues to invest in new areas. what we saw in this quarter is that while investments continue to rise, they fell sharply as a percentage of overall revenues that was quite a happy picture you saw improved margin in areas like cloud and digital entertainment where alibaba has been spending a lot of money as well those were trends that wall street very much welcomed. in terms of the broadermacro environment, the ceo said while there are challenges there are opportunities for alibaba because he feels china will move towards a consumption economy, a service-led economy and that's a trend alibaba can benefit from in his view. overall positive that's why you saw alibaba sha

what are the headwinds alibaba faces a head?alibaba has admitting competition from the likes of jd.com, but we do some areas of challenge in that cloud computing segment that still has negative operating margins. we also started to see growth decelerate in that area. this also losses in the digital media entertainment sector that have narrowed, but they are facing increasing regulatory issues. something worth pointing out is not -- it isis based off of advertising. it is not truly an e-commerce company in the way you would think of amazon as an e-commerce company. while we saw tencent's online advertising really take a hit, alibaba's business has maintained strength there, so they are doing things to keep their customers engaged and improve the advertising return on investment for their customers. emily: if the trade war drags on, and it appears it is going to drag on -- we don't know how long -- what do you think the fallout will be in china more broadly? >> i think it is like the impact on the chinese economy. it is like the i

is that will be are seeing for alibaba? hari: alibaba is more of a retail issue.body wants to buy something, they do a keyword and that is how they sell the ad. westford tencent, it is more of a brand building and those type of activities. the overall ad market has been weak. there is a general slowdown in the economy, no doubt. more importantly, there has been a lot of supply coming from other properties, and that supply has lowered the cost of the overall ag unit per se. we are seeing baidu go through some difficult times because the advertising market overall is slowing down. paul: do you think we might see alibaba looking for any acquisitions in the coming year? hari: they always look for acquisitions get there is speculation that it is not yet confirmed but they are looking at the e-commerce operations. they are always trying to get acquisitions to grow over the long-term and i think that is something that i should really commend this management because they are not just resting on their e-commerce laurels, which generates a tremendous amount of profits, but

how challenging could get for alibaba?a: for one, there were a lot of questions about it alibaba's planned hong kong ipo listing could be delayed because of the protests. we did not get a lot of answers from that on the earnings call. there are concerns in the long-term there could be pressure on margins as they expand into areas like artificial intelligence, entertainment, cloud computing, etc. -- we the negative loss did see a negative loss as operating margins continue for the operating sector and growth did start to decelerate. in the media and entertainment business, losses have been narrowing, but they do still persist ultimately dealing with well,tory headwinds as but something bolstering alibaba which has not been mentioned quite as much is the boost it is financial,m ant which has been on an absolute role. their operating income tripled from the prior quarter and alibaba is seeing the benefits of that. fory: thank you so much that. china correspondent selena wang with the latest on alibaba. coming up next, u.s. tr

that was better than they said before alibaba's numbers. revenue is up 42%? you've got -- this is not a start-up this is amazing. the ebitda, the cash flow up 34%. everyone's saying, how you doing this he said, we have 300 million consumers we're selling to and we're selling more to them ever day. that's exactly what walmart said >> what does the volume tell you, bob because in the sell-off, the volume wasn't necessarily there. you said that the comeback has been tentative what does the volume tell you, when does the volume typically come in this time of year? >> we're not seeing -- the volume is heavier on down days than it has been on up days for a while. so let's buy the dip mentality is definitely being tested right now. so that makes me a little tentative, as well i would like to see a nice big up day and see volume really shoot up tremendously. i don't think we're seeing that right now. >> what do you think is driving the market narrative today overall? you've got the latest in terms of trade headlines between the u.s. and china all the geopolitical stu

so let's zero in on alibaba.t should we be tracking closely? selina: when it comes to alibaba, we want to be watching some of their investments in lower tier cities, cloud computing, artificial intelligence, we want to drill down on the next wave and for tencent that will be in business services. how that can drive growth for tencent. revenuee largest drivers, we are seeing them come off of 2018 lows when there -- where they suffered from regulatory clampdown's. we are seeing them monetize on new games like peacemaker elite, but they have the regulatory risk. we see gaining approvals from the chinese regulator significantly slow later in this year. probably overall, tencent is really looking up as we see investments in fintech and payments really kick off. david: selina wang out of beijing. 8-iron of earnings to take you on the board, we are tracking not in terms of region -- in terms of regionwide, operated exchanges also out with earnings. we talked about tencent halflength. 2% up. look at other names we are tr

but what are the headwinds that alibaba faces ahead? alibaba has been pretty resilient amid increasing competition from the likes of jd.com as well as pinduoduo. but we did see some areas of challenges that cloud computing segment still has those negative operating margins. we also saw growth start to decelerate in that area. there is also losses in the digital media and entertainment sector that has narrowed, but they are facing increasing regulatory issues. something worth pointing out, alibaba is not just based off of advertising. alibaba isn't truly an e-commerce company in the way that you would think of amazon, and while we saw tencent's online advertising really take a hit, alibaba's business has maintained strength there. so they are doing things to keep their customers engaged and improve the advertising return on investment for their customers. emily: so kevin, if the trade ar drags on and it appears it will we don't know , how long, what will the fallout be in china more broadly as an emerging market? kevin: well, i think it'

we check out the numbers of alibaba and jd.com. ♪ yvonne: let's do a quick check of the latest business headlines. general electric fell in the most in 11 years after a prominent financial examiner accused it of accounting fraud. ge needsnted of said to increase its insurance and an additional non-cash charge of $10 billion under new accounting rules. ge called the claims market manipulation, pure and simple. after a lackluster sales forecast, sayers reacting badly to the ongoing trade war and -- slowing global economy. the transformation is being stymied by the trade war and its negative impact on global sentiment and spending. spotify is said to be planning a more expensive version of its service in scandinavia to see if it would be able to raise prices around the world. the test does not necessarily mean it will be extended further afield. the current family plan costs $15 a month and let's up to five eeople use the surface -- th service. haslinda: alibaba posted better-than-expected earnings and revenue despite economic and geo

she was also tracking alibaba results out thursday.lowdown, sales beating top estimates. discuss.d kevin carter the real story in china and the emerging artists is the billions of consumers moving up and they want stuff -- emerging markets is the billions of consumers moving up and they want stuff. retail sales and consumption continues and in emerging markets, that consumption is going online onto a smartphone just as it is here, but there is a leapfrogging because most of the infrastructure was never developed in china. tsai talked about digitalization, which is driving the results. the question is -- how long cannot keep up? selina: he pointed out a few factors driving the growth, and the question is how long can this support alibaba's earning amid the broader economic slowdown, the trade war that looks like it has no end? one is the consumer upgrade in the developed markets. one citiesd the tier are reaching consumption of developed markets. they are pushing these lower tier cities starting to pay off. digitalization in the smaller

she was also tracking alibaba results out thursday. china slowdown, sales beating top estimates. selina and kevin carter discuss. kevin: the real story in china and the emerging markets is the billions of consumers that are moving on up and they want better stuff. retail sales and consumption continues and in emerging markets, that consumption is going online onto a smartphone as it is here, but there's a leapfrogging because most of the infrastructure was never developed in china. emily: joe tsai talked about digitalization, which is driving the results, despite micromet ominously -- despite macro, economically macro and global growth, which is driving the results. the question is -- how long can that keep up? selena: joseph mentioned is reaching markets around the world. startingr cities are are reaching consumption of developed markets. they're pushing these lower tier cities starting to pay off. you're seeing digitalization in the smaller cities and they're able to compete, as well. they're planning to invest more in these areas an

the focus at the moment is alibaba. too happy with the firm, the stock falling 16% since may because they are worried about china‘s economic slowdown and an escalating trade war with the us. alibaba is like amazon, paypal, and twitter all rolled into one. but it also has a growing cloud computing service and wants to expand its business to business service in the us. the big risk is the trade war. the expansion plan into the us has become a lot more difficult lately. we can expect a nalysts to difficult lately. we can expect analysts to break down the numbers of alibaba when they are released later today. thank you mariko oi. the world‘s largest retailer reporting earnings on thursday as the trade war continues. investors will be continuing to see how the growing cost of chinese imports will impact walmart‘s profitability. it is also a unique focus on walmart‘s position as the leading gun retailer in the us in the wake of recent mass shootings. for a retail company like walmart, these tariffs are not good for business.

acquiringe alibaba some multinational companies who in the past would not have used alibaba's servicerowth prospects. thank you so much for that. if you missed any part of that conversation, tv is your function. you can touch up on past interviews, also watch us live and died into any of the securities or bloomberg functions we talk about and become part of the conversation by sending us instant messages during our shows. this is for bloomberg subscribers only. check it out. this is bloomberg. asia." his is "daybreak paul: let's get back to hong kong airport now. our chief north asia correspondent is there. we are hearing the airports won an injunction barring protesters from obstruction. what more do you know? >> they sought this court order late last night and we got confirmation in the last half hour or so from the airport authority that they did win this injunction. they are waiting for field copies to come here to the airport before they are required by law to post it for the public here and the protesters to see it. basically, let me read from the statement. they say the ai

sources have told reuters the alibaba ipo could take place as early as october. thank you.investors took a pause after recent gains. —— mixed. fresh worries about a global recession led investors to dump risky assets. the focus now turning to a key speech by federal reserve boss jerome powell at the end of the week. let us see how will europe looks at the start of the trading day. slightly better performance than asian shares, not a bad rally. the other key thing markets will be watching as the notes from the us federal reserve accompanying the latest decision on interest rates, those notes are due later on wednesday. michelle fleury has the details of what's ahead on wall street today. as interest rates remain in focus, wall street will be paying close attention to america's central bank when it releases the minutes from itsjuly policy meeting. after the fed's first rate cut in more than a decade, they are expected to provide more insight into that decision. while the quarter percentage point reduction was widely flagged, two members of the committee voted against it. and

and what do you get when 2 tektites meet alibaba is just not as well as in the us it could get a little uncomfortable. because all of its new business is optimism next month's trade talks between the world's top 2 work colleagues will see progress it's hard to believe where the enthusiasm is coming from last month's talks in shanghai got nowhere washington set to fire off the next round of tariffs this we get stocks on the rise on wall street and all over the world investors regaining hope that china and the u.s. are committed to resolving their long running trade war the optimism comes after the chinese side hinted that beijing will not immediately respond with more tariffs and that talks are ongoing to strike a deal. what i can tell you is that the negotiating teams of china and the united states have maintained effective communication we hope the u.s. will show sincere ety take practical actions and work together with china to find a solution. but more than $200.00 american footwear companies have sent a letter to president trump urging him to cancel the additional tariffs they say t

point, alibaba does have increasing competition from not just j.d..s that allah bobby faces ahead? alibaba has been pretty did -- but we did see some areas of challenge. i still have those negative operating margins. we saw growth decelerate in that area. there are lots of that digital media entertainment sector that narrowed but we are facing regulatory issues. based off of advertising. it is not the way you think of amazon. while we saw online advertising take the hit, amazon has maintained strength there. they are doing things to keep their customers engaged and return on investment for their customers. emily: if the trade war rugs on and it appears it is going to jog on, what do you think the follow-up is going to be? it is like the impact of the chinese economy. theffected the story, statue in sector. i would like to think the tariffs are not going to go into affect. >> many tariffs are already in effect. >> the new ones that were not pushed out to december i would like to think it is a negotiating tactic. we had a trace grimaced with china 10 ye

corporate side, we have earners from chinese technology tencent on thursday, and we have results from alibaball see how the slowdown in australia is impacting unemployment figures there. we look at another barometer on friday, with chinese foreign investment data. earlier i asked the chief investment strategist at a bank if we are starting to see the impact of the trade war on economic data. we have two data points that might shed some light in terms of the cost of the trade war. they are both retail sales for china and the united states for the month ofjuly, out this week. it will be interesting to see whether or not the consumer is beginning to feel some of the heat from that dispute. up until now, at least from the united states, we can say that the consumer has been surprisingly robust. you say surprisingly robust. you say surprisingly robust. you say surprisingly robust. how do we expect that to translate to some of these corporate earnings? has there been any indication of the trade war is hitting companies like tencent, 01’ is hitting companies like tencent, or alibaba, or even walmart

the alibaba are hong kong's stock exchange. the aliba ba are backed hong kong's stock exchange.company is one of the country's best—known artificial intelligence companies. earlier this year a western study suggests its technology was more accurate than rival systems from amazon and ibm. the brazilian environment minister has welcomed the financial aid promised by the g7 countries to tackle wildfires engulfing large parts of the amazon, but he said his country would decide how the country was to be used. the g7 has pledged $22 million mostly to pay for firefighting planes. netflix has been celebrating that it's now shipped 5 billion dvds to its customers since first sending out the iconic red envelopes 21 yea rs out the iconic red envelopes 21 years ago. now best known for its video streaming service, its dvd subsidiary is still a highly profitable part of the business, contributing close to $46 million in profits in the second quarter this year. now, it's been eight years since new zealand decided to ban foreigners from most of the country's housing market. it came after skyhig

doesn't come as a surprise alibaba never announced officially that it's looking for a hong kong ipo noriven any time line toward that. it clearly doesn't need the money if you look at the last earnings report that's very strong and it's generating a lot of money and managing to control cost as well as it invests in new areas from cloud to some of the food delivery businesses here in china so there's no pressure on alibaba to go public in the near future it could probably hold off for another few months. >> live in china right now, thank you. we appreciate it coming up on the show, could a bank one day actually pay you to have a mortgage? it might not be all that farfetched as it sounds. and then walmart is suing tesla. wall mmart is suing tesla. we'll tell you why you're watching worldwide exchange on cnbc >>> u.s. morgan rates are at multiyear lows and at denmark banks are paying some homeowners to take out loans so would this ever happen in the united states let's ask tim, the managing director, tim world where a bank is goinlain y teenagers negative interest rates. the idea is that i

alibaba, we will have to wait and see how results come out and how investors react.about a very solid company. whenever it comes, a big one to watch. matt: man u well, thank you very much -- manuel, thank you very much. this is bloomberg. ♪ from the couldn't be prouders to the wait did we just win-ners. everyone uses their phone differently. that's why xfinity mobile let's you design your own data. now you can share it between lines. mix with unlimited, and switch it up at anytime so you only pay for what you need. it's a different kind of wireless network designed to save you money. save up to $400 a year on your wireless bill. plus get $250 back when you pre-order a new samsung note. click, call or visit a store today. francine: bond is a flash recession, treasury yields hit an all-time low as curves invert. is the global economy headed for a serious downturn? attacks jay powell and says the central bank is holding the u.s. back from big rewards. maersk sores, reassuring -- , reassuring investors despite an uncertain trade environment. good morning, everyone.

some of these names. >> baidu is more akin to an alphabet and an alibaba are more akin to an amazon let's say. what would you rather be in? >> oh. >> would you rather -- would you rather. >> i slipped that right in, just like you slipped your stuff in, dan. would you rather be more exposed to the chinese consumer directly or to something more driven by advertising? >> i think the chinese consumer directly for the reason i think the chinese have a lot of monetary and fiscal policy, you know, easing to do if they really get into a jam here, so to me tencent is down 10% from its recent highs. alibaba is down, baidu has gotten destroyed i'd rather go for the gamers and e-commerce players. >> i mean, valuation in baidu, it's absolutely cheap. this stock is down 60%, from june of 2018 that's a pretty significant drop, and if you go back and look over the last year, year and a half or so, every rally of this magnitude has been met with further selling, and then you have further new lows. so initiated with $130 price target does it get there? i'm not sure i think you take this as an opportu

looking ahead to alibaba as well.ck of the latest headlines, one of china's supporters have lost an investor, adding to the coal miners investors. the group failed to reach a legally binding agreement with state owned beijing energy holding over and asset restructuring plan. intime first missed payment july last year, triggering crossed the ports on at least 10 notes, and becoming the largest that failure in china in 2018. david: let's look at banks in southeast asia. they are said to be in the chart of indonesia bank. the country's fifth-largest render. we are told that it is considering an offer for 19%, which has a market value of 2 billion u.s. dollars . interested bank is in standard chartered. burke xiao hathaway is raising its bet on amazon. posting its holding by 11% and a second quarter. more than $1 billion at the end of june. it shows how the view of tech companies has been shifting. thantake is far further the apple holding, which totals almost $50 billion. brookshire also raised its holdings in bank of am

alibaba sales beat the highest analyst estimates in the latest quarter. largest e-commerce company boosted by personalized shopping recommendations and a june sales bonanza. meanwhile, cloud computing revenue jumped 66%. the company says that was mostly due to an increase in average customer sales. that's your latest bloomberg business flash. this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn. guy: from london, i'm guy johnson. this is "bloomberg markets." let's check in on the bloomberg first were details. here with the details, renita young. renita: beijing warns it plans tariffsiate for new scheduled to take effect next month. china called the tariffs a violation of the accords reached by presidents trump and xi jinping. the administration delayed the imposition of some of the new tariffs, but not all. china doesn't have unlimited patience with the antigovernment protests in hong kong. that was the message from the chinese ambassador to the u.k. today. situation is at a very critical moment, but we have a full trust and confidence in t

alibaba shares rose 3% to 166..pivotal software took off after vm ware is p aceeding wi agreement to buy pivotal's class a shares for s5 pere. the proposed deal would help vm softwarersify its development unit. pivotal went public last year and its shares have falle than 60% in the past year. pivotal skyrocketedore than 68% to 14 even while vm ware fell 7% to 142.35. >>> and boeing is delaying delivery of its ultra long-range version of its 7 x aircraft the company focuses efforts on getting its 737 max back in the air as we engine problems with its standard 777x. but the spck was more than 2% nonetheless to 32 even. >>> coming up, switchingr gears. buyers may be in luck even as prices for new models head higher. ♪ ♪ ♪ >>> as interest rates fall, those a buyingew car or a new truck are also seeing lower rates for autoloans, and that is welcome news for buyers as well as for dealers who now find themselves working a lot harder to clear out their 2018 models. phil lebeau has more. >> reporr: if you have been to a show

. >> thank you >>> another big day of earnings tomorrow walmart and alibaba on the docket let's start with a preview of walmart. courtney reagan has that for us. hey, court. >> reporter: walmart's u.s. comparable sales is the key metric to watch. the street expects it to grow 2.4%, which would mark the 20th straight quarter of growth earnings expect to fall to $1.22 per share on $130,110,000,000 in revenue, a slight increase over last year. a third of walmart's u.s. sold merchandise is imported, china only a part of that. the ceo told me increased tariffs will raise prices though the goal is to be the low price leader and manage margins, keeping shoppers and shareholders in mind when making tariff mitigation plans. >> courtney, i know you bring us those numbers tomorrow thank you. >>> alibaba is set to report tomorrow morning as well deidre bosa has a look at that hey, deidre. >> reporter: last quarter alibaba vice-chairman addressed trade tensions, what he called the elephant in the room he said that trade talks put alibaba on the right side of the issues on the table and it would ac

names like alibaba. amazon down, into the 1700s.ou look at people like warren buffett, are now investing in amazon. these are opportunities i think now. maybe opportunity to come out of some save stocks. stocks like proctor & gamble are up 50% here. might be time to take some of that profit and rotate. >> who would have thought about it. warren buffett, 11% increase in his amazon stake. have a good weekend,. >> thanks charles. charles: major industries held when they had to on the downside. buyers are emerging. we'll follow markets tick by tick. later on the show, elizabeth warren is surging while biden is being told to hide out. new data of threats of more tariffs putting a dent in consumer sentiment days after we got robust retail spending numbers. so could the fear of higher prices actually derail the almighty american shopper? we're going to ask our favorite retail expert next. this was me before liberty mutucustomized my car insurance, so i only pay for what i need. and this is me now! any physical changes to this man's appeara

the same with alibaba. alibaba is, think about the company is growing by 30% to 50% a year. they are going to have, there are 200 more million people on the internet in china in the next five years. these are the kind of companies you will buy on a day like today. i'm not a trader but i'm hold onni ing on to core positions and weathering the storm. liz: alibaba cheaper than it was yesterday. great to hear from you. thank you very much for getting on the horn. jeff greene, billionaire investor. dow still down about 716 points. let's mark it, 12 minutes to go before the closing bell rings. no commercials,folks. we are watching every single tick of what has been a very difficult day for the bulls. anybody who is long. let me quote jeff greene, what he just said. unless you are a liar, everyone's having a pretty bad day in the markets. unless you are totally short or completely in cash underneath your mattress. i know some of you might be. >>> we need to look at retail stocks. specifically the brick and mortar department store names including everyone from nordstrom's to tiffany

it was actually a new buy rating on alibaba. back to jackie on the floor of the new york stock exchange, eight minutes to go before the closing bell rings. no commercial breaks, folks. go ahead, jackie. jackie: you can see, these stocks are taking a hit. alibaba is down 4%. baidu down more than 7%. jd.com more than 7%. this is going to be an ongoing back and forth situation. china punched back today. now the question is, is the united states going to take this lying down, or is it going to do something about it. potentially with its currency as well. if the stocks that are going to lose here are not just our corporate stocks which we are seeing a huge selloff today, but chinese stocks are going to take the brunt of this as well. it's not really a good situation on either side. many of the traders here are saying they hope over the course of the next month that things will quiet down a little bit and when these talks resume in september, some sort of agreement can be reached so this market can find a little bit of a calmer, more

battle of the retailers — chinese ecommerce giant alibaba is set to unveil its latest results just hourslmart. all this in the shadow of the trade war between washington and beijing. i'll be talking to our asia business hub to find out how markets are reacting to the big losses on wall street. a warm welcome to the programme, briefing you on all you need to know in global news, business and sport. also we would love to hear from you. today we're talking about finland. from 2020, workers in finland will be able to decide when and where they work for at least half of their hours. finland is being praised for being at the forefront of flexible working. tell us what you think, just use #bbcthebriefing. we begin in india today. in a major speech, india's prime minister has described his government's much—criticised decision to revoke the special status of indian—administered kashmir after seven decades as a major achievement. narendra modi has been giving a nationwide broadcast to mark india's independence day, his first since he won a massive election mandate. the disputed region has been in

butna: we both use meituan there is a lot of competition, especially from alibaba.you showing how it is stacking up? set,e: as part of our data we track the two biggest delivery platforms. every couple weeks our data scientists and engineers collect the data publicly on those platforms. competition, we key driversare two of meituan stocks. of penetration, meituan is doing really well in the lower tier cities. in some lower tier is higherop count than its peers. 50% to maintains around 25% advantage, and speaking of leveledcounts, meituan off slightly before accelerating rapidly last month. to theompare meituan total delivery market, we see was more than double its peers. earningse saw alibaba better than expected, surprising given the trade war and the macroeconomic slowdown. what are you seeing in terms of the online consumer and e-commerce? of revenue, its was strong last quarter. it was surprising to us and our clients. revenue with the guidance and consensus, actually we were getting an earnings signal after we saw the anniversary sales event. ofina: you follow

tencent is driven by gain and alibaba is driven by e-commerce.otential that can double advertising revenue. growth for forward these companies are attractive and the current valuation which is [indiscernible] times pe for both companies so it is a good entry point. the macro is going to have pressure on both, and that could be a relative depreciation. if global fund underweight china, this other stock as well. shery: thank you for your insights. nice, korea marks independence in the wartime defeat of japan. we will look at the relations between seoul and tokyo. this is bloomberg. ♪ paul: this is "daybreak: asia." the trade spat between tokyo and seoul continues as both sides it marks the anniversary of japan's defeat in world war ii. both will deliver speeches which will be closely watched for any statements that could aggravate the simmering feud. the koreannow is institute president. have seen tensions for years whether it is historic or territorial. we never really saw it escalate so much and the economic sphere of things. what will it take to

now to a meeting of 2 true tech trailblazers alibaba founder jack ma and test the chief executive both have bills business empires thanks to digital technology both have made fortunes and both have apparently very different views on how artificial intelligence will change our lives a clash of titans take a look at the 2 tech billionaires focused their talk on the future they disagreed on nearly everything take our special intelligence it's a big part of china's efforts to become an innovative industrial center jack ma believes it poses no threat to humanity elon musk things that's evolving faster than we can understand. people like us street smart we never scared of that we we think it's a great fun and we will and change ourselves to embrace it i don't know man that's like famous last words. the 2 men steered clear of us china trade tensions and focused instead on topics ranging from mars to the notion of human intelligence you know things are going way more smarter than the past way smarter so that's going to continue we're not the last step in evolution so the most important things

views on how technology especially artificial intelligence will shape our future welcome to the stage alibaba founded jack ma to test the chief executive a long must i. the 2 tech billionaires used their 1st public joint appearance to talk about the future they disagreed on nearly everything china has made artificial intelligence a big part of its effort to become an innovative industrial center jack ma believes ai poses no threat must thinks it's him balding faster than our ability to understand us. people like us street smart we never scared of that we we think it's a great fall and we will and change ourself to embrace it i don't know man it's like famous last words. and surprisingly the 2 men steered clear of u.s. china trade tensions and focused instead on topics ranging from mars to education to work hours so you know things are going to way more smarter than the past wastewater so that's going to continue we're not the last step in evolution so the most important things like i said the most important mistake i see smart people making is a searing that they're smart. they're not. were c

. >> alibaba. >> i've never used alibaba. integrating the physical world with the online world and seems to me quite remarkably what they've done, they are in some ways ahead of that and americans underrate them, i'm not sure the chinese do. >> pete buttigieg. [laughter] >> i'm not sure how he's rated. i like what i've seen of him. i like the idea having mayor be president, someone who is used to solving problems and realizing it's not just voters of party they are working for, i would like to see him be rated. a lot that i don't know. i've seen encouraging signs. >> game of thrones. [laughter] >> you know, my wife just sat down, so long, we have to try one episode, better than most movies. too complicated. i didn't care. i didn't love it. i think someone could get into it but for now it's overrated. >> let's go to questions, if you could state who you are and speak clearly into the mic. >> my question is you have been talking about people as consumers, people who consume, they have to have an income, do you think it's reason

romaine: we will be getting numbers from alibaba. everybody wants to know what will we see?ly, given that we are seeing macroeconomic pressures, analysts are saying they will do very well. we saw 22% growth in online retail sales. is thing is, when there macroeconomic pressure or rough times, people stay-at-home and expand digitally. end estimates-- and sp digitally. the estimates are they will add 38%. -- be at 38%. when we are depressed, we shop at home. romaine: there are three shows i watch every night, including jeopardy, and daybreak australia, and daybreak asia -- you can catch them tonight. caroline: a nice insight into your life. romaine: it is a charmed life. doolittle has been going through all of the details on this. abigail: we have insights in to what the biggest investors are doing. everybody wants to know about berkshire hathaway. relative to some of their biggest positions, historically they have added to apple, bank of america, along with coca-cola. they also boosted their amazon bet by 11%. they did decrease wells fargo and kraft heinz. kraft heinz putting

chinese internet commerce platform alibaba has delayed its listing on the hong kong stock markets and that's the ongoing protests there the company's already listed on wall street simple steps to raise up to $20000000000.00 in hong kong it's now unclear when the listing will take place. san francisco international is the 1st airports to ban plastic water bottles while soft drinks are still available in the plastic containers the water is now also old in cardboard packaging and reusable allen minium bottles that can be refilled at bloodlust in all terminals the banners san francisco's latest effort to reduce plastic waste. african leaders recently launched to the african continent a free trade agreement the deal is aimed at creating the world's biggest free trade area many hope the trade zone off more than 1000000000 people will spur economic growth on the continent but progress has been slow now the plant's architects hope the agreement will go into force within a year. donors capital accra is hosting a national conference on how to go about implementing africa's biggest free trade ar

to have you with us i'm starting with something of a surprise chinese internet commerce platform alibaba has delayed its listing on the hong kong stock market amidst the ongoing protests there the company a chinese version of amazon is currently listed on wall street and was estimated to raise another $15.00 to $20000000000.00 by issuing out shares in hong kong it's unclear when this thing growth curve but inside a see the timing of the withdrawal as crucial some say it could send a signal to the rest of the world on the state of hong kong as a business and financial sector. well for more on that story let's bring in our business correspondent in singapore under your hang andrea what is the region making of sudden decision to cancel the hong kong listing. i think the asian markets won't direct were not directly hit by this news because i think the general consensus is that people understand why this landmark this thing had to be delayed and they seem pretty optimistic also the ali baba will go through with it eventually infect the c.e.o. of the hong kong stock exchange was quoted as sayi

starting with alibaba. >> alibaba us urged in new york after posting better than expected revenue. despite geopolitical headwinds. quarterly revenue rose 42%. >> the secular drivers are well understood. increasing digitization. that drives the core business. it grew at 26%. all of the commerce businesses, the company had 33% growth for the year. she made what really drove the she made those growth over the top is their investments in local services. these things are growing at more than 100 sent. they have been spending a lot of money these investments. now it is coming down to returns for them. >> tencent reported second quarter revenue that missed estimates. while the chinese company beat expectations, online ad revenue grew worse than expected. what are investors focused on? it seems to be a mixed bag. >> the focus was really on decline around online ad revenue. we are starting to see it get hit by broader economic issues in china as well as competition. what was interesting was where the company pointed out the slowdown in advertising ad sales buys. the real estate sector, not

to have you with us then starting with something of a surprise chinese internet commerce platform alibaba has delayed its listing on the hong kong stock market amidst the ongoing protests there the company a chinese version of amazon is currently listed on wall street and was estimated to raise another $15.00 to $20000000000.00 by issuing out shares in hong kong it's unclear when the listing growth occur but insiders steve the timing of the withdrawal as crucial some say it could send a signal to the rest of the world on the state of hong kong as a business and financial sector. well for more on that story let's bring in our business correspondent in singapore under your hang andrea what is the region making of a.

that's the message analysts are taking from the healthy results posted by the ecommerce giant alibaba and rico hizon. good morning to you. a bit of negative news, we're some positive develop in terms of earnings. it is more than doubling net profit, despite the saturated e—commerce market in the economy that has been weakened by the us — china conflict. this is the last before the billionaire founder steps down as chairman next month, it was bruised by the company ‘s expansion in unprofitable businesses like food delivery and cloud computing services. it is like amazon, ebay, paypal and twitter rolled into one and they increase revenues by a lot compared to the same period in 2018. in that feed the estimates. with a two—thirds market share and they continue to grow. strength to strength. a private financial investigator who flagged warnings about bernard madoff‘s $65 billion ponzi scheme is now targeting one of america's blue chip companies. harry markopolos has claimed that general electric is hiding an accounting scandal, sending its shares tumbling. ge strenuously denies the claims