that was alibaba.ok aim at ebay with towel bow which led individual sellers trade with each other. 2007 was a milestone as he listed the business rating division in hong kong only to do de-list five years later as performance sagged. however, the company made a big comeback in 2014, getting $25 billion in new york with the world's against ever ipo. -- biggest ever ipo. >> everybody should have a dream. what if the dream comes true? >> as jack ma steps aside, he leaves an empire that has a grab that has expanded aggressively. the challenge ahead in the face of growing competition and a slowing chinese economy, may be sustaining that growth. he has warned about the u.s.-china trade war saying the impact could last decades into the future. he also urged chinese businesses to find opportunities from it. and jack ma has not forgotten his roots. september 10 is teachers day in china. taylor: that was bloomberg's rosalind chin on jack ma stepping down. now to tell us more about the rise of ma and what lies ah

makes up 86 of revenue for alibaba. you need to hear from the company about their e-commerce? zach, let me know you can hear me on alibaba. their investor meeting that is coming up. zach, do we have you? that alibaba has their investor meeting -- we will keep talking until we get some technical difficulties figured out over there with zach who is joining us on all things china. we know this is expected to be day two of the analyst meeting. we had day one today. of course, we do know as we take a look at the company's revenue breakdown -- 86% of the revenue does come from e-commerce. you have some other parts of innovation, for example, which makes up 1% to 2% of their total revenue. let's get to some other stories. twitter and facebook say they have removed 365 fake accounts linked to things of the conservative popular party. the accounts were used to influence public opinion and spread spam. twitter says the accounts were identified as falsely boosting public sentiment online in spain . the accounts were active before

that was alibaba.t, he took aim at ebay, which let individual sellers trade with each other. 2007 was a milestone as it listed its division in hong kong, delist five years later as performance sagged. however, the company made a big comeback in 2014, raising $25 billion in new york with the world's biggest ever ipo. >> everyone should have a dream. whatever that dream comes through? >> he leaves an empire that has expended aggressively. cloud computing, health care, fintech and news media to name a few. the challenge ahead, in the face of growing competition and a slowing chinese economy, may sustaining the growth. he warned about the u.s.-china trade war, saying the impact could last decades into the future. he also urged chinese businesses to find opportunities from it. jack ma has not forgotten his roots. december 10 is teachers day in china. literally, quite wrote the book about jack ma and his empire, in alibaba: the house that jack built. bda china. duncan joins us now via webcam from utah. it re

guy: alibaba is down about 4%. how did it affect companies like alibaba?an: capital flows two ways. alibaba is listed on the u.s. market. guy: looking to have a listing in china as well. brendan: if you are to gain out the scenarios, some sort of restriction on chinese companies may be something more hawkish members of the trump administration would want to do. it is one of those scenarios that the u.s. government regulates their stock exchanges and in a worst-case scenario, that might be something people would conceive of. vonnie: how would the mechanism be for this to actually happen? with the trump administration have to make the announcement of formal exchanges, the exchanges with an have to recalibrate their indices. it strikes me there could be a whole lot of market dislocation. reporting,om our that is what we understand as the big issues. trump administration officials are trying to work through. and do itthey do this on domestic law, international norms, and so on, without creating a ripple effect to wear countries all over the world start doing t

that was alibaba.ok on ebay with which let individual sellers trade with each other. then, alibaba listed a division in hong kong, only to the list five years later as performance lag. five years delist later as performance lagged, but they came back in new york with the world's biggest-ever ipo. >> everybody should have a dream. what if that dream comes true? steps down, he has an empire with cloud computing and news media to name but a few. ahead in the face of growing competition and a slowing chinese economy may be sustaining that growth. he has warned about the u.s.-china trade war, saying the impact could last decades into the future, also urging chinese businesses to find opportunity from it, and jack ma has not forgotten his roots. september 10 is teachers day in china. david: and earlier, we heard from an early investor in alibaba, duncan clark, with "the house that jack ma built." have a listen. underway, was already but combining that with tech to make these large national and now global com

alibaba's search giant's dominance of online advertising. ba's boss search giant's dominance of online advertising. alibaba's boss steps down from his role as executive chairman as he marks his 55th birthday. good morning, asia. hello, world. it isa good morning, asia. hello, world. it is a tuesday. glad you could join us for another exciting addition of asia business report. i am rico hizon. we start off with the world's biggest search engine. 50 groups and territories in the united states have launched an investigation into google‘s dominance of the online advertising market. a samira hussain reports from new york, there are a mounting number of probes of big technology giants by authorities in america. this is not something you see very often in washington, dc, democrats and republicans working together. but together they stood on the steps of the supreme court, announcing an investigation into the business practices of the business giant google. and well democrats and republicans may be from different parties we all have a common bond an

zach, let me know you can hear me on alibaba.have their investor meeting that is coming up. it was really interesting, 70% is expected to come from those lower tier cities. what do you need to see in terms of growth? with these strategic investments alibaba has made. some of those investors are the logistics platform, others in local consumer services. update -- we think this is going to allow them to gain more market share, 1.3 trillion dollar opportunity. upi love that you brought delivery. what do you need to hear from the company about food delivery? what is interesting and what is that it is one of the largest payment platforms. they have the off-line transaction data so they can have great targeting for new people ordering and consumers ordering food and can provide a lot of data to restaurants. they have the prior purchase history. giant goes internet to ai and cloud, can you further assume margin expansion with a shift to cloud? >> cloud is still not profitable for alibaba. that may happen over the next couple of years. m

when it comes to their success, people still talk about alibaba.built a $20 million position into a $120 billion stake right now. you look at the track record with a lot of the companies lately and it's hard to come up with other real successes. you talk about flip cart but that's not moving the needle. >> right but you know as well as i do, kelly, you can have somebody who makes an amazing trade once that makes them, you know, a billionaire many times over and then everybody expects the next thing to be as good. >> yes. >> and we saw that after the financial crisis. >> exactly >> and so this in a sense is a little like that what's different here, though, is mr. son has an even bigger dream. he's trying to change the world with his investing and that sets him apart from somebody else who did a good trade once and everybody is hanging on their every other trade. >> it also gives him a long leash. he talks about having a 300-year vision. >> he talks about having a 300-year vision. he's been around for a long time remember masa made a lot of bad bets

he founded alibaba two decades ago.l the company's had cords to today. the company took advantage of china's growing consumer markets and offered a platform for firms and consumers to buy and sell to each other, ushering ina new buy and sell to each other, ushering in a new phase of the e—commerce industry in china. today is it does everything from financial services to mobile payments to cloud computing, and artificial intelligence. still, there are lots of challenges ahead. growth is slowing in alibaba's main market, china, and the us — china trade war is dampening expansion plans in the united states. then there is a delay of the multi—billion dollar ipo in hong kong reportedly because of pro—democracy protests there. all of these things will be big issues for danieljunk, these things will be big issues for daniel junk, the man jack these things will be big issues for danieljunk, the manjack ma is handing the reins of alibaba two. now hejoined the handing the reins of alibaba two. now he joined the company handing th

at 55 years old he is retiring from alibaba. well, he wa nts to retiring from alibaba.ion, sally. and basically he is following through on his own advice which he shared two young leaders at the world economic forum in davos last year. he said when you are in your mid— 50s or 60s, you should enjoy spending time with your grandchildren. and that is what he plans to do. but retirement aside, sally, you probably know him as one of china's richest men, with a net worth of over $38 billion. he was born into a poorfamily worth of over $38 billion. he was born into a poor family and started his career as an english teacher, and he was even rejected for 30 different jobs, and he was even rejected for 30 differentjobs, including one at kfc. he founded alibaba, which is now worth $460 billion, in his apartment two decades ago. well, he bought his first computer at the age of 43 and was surprised when no chinese beers turned up in his search for beer, and the rest is history. from being a traditional e—commerce company 20 years ago, it is now a conglomerate that has businesses fro

dedra in san francisco all seriousness, though what does it mean for alibaba. >> by the way, itchingdoing jovi's never say goodbye. >> if i was lefg my company -- you know we've known the event was taking place for a long time. if you look at the valuation of the company, alibaba has been having trouble getting the multiple kind of past this 30, compared to amazon, amazon who they continue to defeat at least in china through t maland direct to consumer. i think alibaba is a company looking for catalyst people are very concerned about how they are spending to maintain market share. right now nobody close and i leak the valuation. >> i look -- the forward is 20 when i hook at that. and you look at e commerce and cloud. that's one of the areas you will see growth the fact they own e commerce mcand moving into the rest of the world and you have the cloud growth and digital media you have enough there where this stock looks fairly cheap right now. because of that i love the fact that they have a succession plan it's been in place we know that it's been out front of everybody. we were expe

that was alibaba.et individual sellers trade with each other. 2007 was a milestone as alibaba listed its division in hong kong, only to delist five years later as performance sagged. however, the company made a big comeback in 2014, raising $25 billion in new york with the world's biggest ever ipo. >> everybody should have a dream. what if that dream come true? >> he leaves an empire that has expanded aggressively. cloud computing, health care, sport, fin tech and news media, to name a few. the challenge ahead in the face of growing competition and the slowing chinese economy may be sustaining that growth. he's warned about the u.s.-china trade war, saying the impact could decades into the future. he also urged chinese businesses defined opportunity from it. jack ma has not forgotten his roots. december 10 is teachers day in china. paul: for more on jack ma's legacy and challenges facing his success, let's bring in lulu chen. daniel zhang, some very big shoes to fill at alibaba. what legacy is jack ma

chairman of the e-commerce giant he helped lead to global think 20 years ago jack ma founded the alibaba group in his apartment in 115 years after that in 2014 alibaba with an e-commerce giant making its debut on wall street and old was the largest i.p.o. in history at the time ma is china's most famous entrepreneur and his influence has been felt beyond the tech world the kid has met with several world leaders including the last 2 u.s. president barack obama and don't trust the bank and we had a great meeting and a great great entrepreneur one of the best in the world and he loves this country and he loves china do you kind of. doubt it was early 2017 and things couldn't have been more different by the end of last year the time when trade tensions between the u.s. and china where escalating trade wall is the most a stupid a thing in this world trade is to force the peace trade is to communicate there will be no trade deficit. issue in the next to 20 years because of technology mafias the answers to some of the world's biggest problems in technology and while he may be stepping down from

alibaba chairmanjack ma leaves the company he created today. we will hear his fascinating story.ts in europe are headed lower for now. a lot of attention on central bank action and the european central bank meeting on thursday. and pets in silly glasses, what's not to like? snapchat is a bit of social media fun, but the firm wants to put a more serious face on. we find out why. and as us authorities launch an investigation into google‘s dominance, we want to know could you live without the services they provide — just use the hashtag bbcbizlive a very warm welcome to the programme. are you lost without google? we've already had comments. we've already had some coming in and we will share them later. the world's largest motor show gets under way today in frankfurt with all eyes on trade tensions between the us and china. with germany's economy now shrinking the likes of bmw, vw and daimler will hope that the showcase event can give their brands a much needed turbo—charge. according to the european automobile manufacturers association the auto industry provides jobs to 13.8 million

group in his apartment in hung joe 15 years after that in 2014 alibaba with an e-commerce giant making its debut on wall street and was the largest i.p.o. in history at the time ma is china's most famous entrepreneur and his influence has been felt beyond the tech world good kid has met with several world leaders including the last 2 u.s. president barack obama and don't trust the banks and we had a great meeting and a great great entrepreneur one of the best in the world and he loves this country and we love sharing do it kind of thing. that it was early 2017 and things couldn't have been more different by the end of last year the time when trade tensions between the u.s. and china where escalating trade war is the most a stupid thing in this world trade is to force the peace trade is to communicate there will be no trade deficit. issue in the next 20 years because of technology mafias the answers to some of the world's biggest problems in technology and while he may be stepping down from his role as chairman he still wants to make a difference he says he'll spend more time building h

group in his apartment in hung joe 15 years after that in 2014 alibaba with an e-commerce giant making its debut on wall street and all with the largest i.p.o. in history at the time. is china's most famous underpin your and his influence has been felt beyond the tech world he has met with several world leaders including the last 2 u.s. president barack obama and don't try. and.

group in his apartment in hung joe 15 years after that in 2014 alibaba with an e-commerce giant making its debut on wall street and always the largest i.p.o. in history at the time mark is china's most famous entrepreneur and his influence has been felt beyond the tech world reduce the king has met with several world leaders including the last 2 u.s. president barack obama and don't try. and win a great meeting and a great great entrepreneur one of the best in the world and he loves to start things and we love sharing through china. that was the.

you saw alibaba dropped 6.8% initially.is not just the portfolio restrictions, but the fact that specifically in the bloomberg report they say the administration is considering delisting some of these chinese companies. that is a lot of money involved in this. of $450has a market cap billion. bloomberg reporting 156 chinese companies, including at least 11 state owned listed on u.s. exchanges. in february, that was one point $2 trillion in market caps. alibaba listed in new york after considering hong kong. they came here because they like the rules better. if they say they will delist you, that is a serious blow. kailey: a lot of uncertainty on how this will play out. what do these companies do from there? david: there have been questions raised about the accounting principles in china and whether u.s. principles -- kailey: this has been raised on capitol hill by the likes of marco rubio talking about how opaque the companies are. there is a split from the reporting in the administration as to whether to keep this a separa

. >> alibaba has rolleled it out n more than 100 citities. raises privacy concerns. cash,ng shopping without crededit cardsds, or a phone. these customers need to pose for the camera to make a purchase. they are using the latest facial recognition payment system, a technology thahat hass it t shaf enthusiasts in china. >> it is conveninient. you can buy things quickly. it is better than traditional supermarkets where you have to wait in line. >> alibaba is one of t the l leg recognition facial payments. spend around $420 million over the next three years to implement and fine tune the system. raisesacial payment privacy concerns, in a country where technology is used by the government for surveillance and to crackdown on dissent, companies do not see this as an obstacle for the industry. helpsial recognition protect your privacy. traditionally, it is dangerous to enter your pin code when someone is standing next to you. >> it may be vanity rather nakul mamahendro: itit never mae sense t to me that,t, like, yoyou walk intnto this resestau, everything is s super formal

a lot of them failed pretty sizably like alibaba. and in today's session they are up. >> i think it is one of the things where this is the environment we're in. the triggers that actually send these things lower. obviously, any kind of commentary and anything close to trade wars, impeachment or this kind of came out of nowhere to me. it's interesting to see the reaction i think in the market place. people just immediately reacted and i think computers help react to the chinese namds which is the reason we saw such a push to the down side. i don't know if it is a part of what we're seeing today. i think it is opportunistic. >> is it opportunistic if we saw alibaba down more than three percent and up one percent today, is that a convincing we believe what he is saying and the treasury statement over the weekend. >> outspoken momentum. >> i think it's a real challenge to meaningfully go into chinese adrs. you have to ascribe a much higher risk premium to investing today. there may not be an outright restriction, there can be a lot done

alibaba is the amazon of china. the baidus, google of china.here is a lot of lot of large companies americans should be able to invest their money in. i think at the end of the day i think the administration decided that the chaos could ensue in the stock market was not worth the improvement in a negotiating posture. finally there may be more legal questions what can be done. when you're adjusting tariffs, changing immigration, that is inherently the power of the executive branch. delisting stocks may be another animal. charles: assistant of public affairs monica crowley the administration is not contemplating shares from chinese companies in the united states is not being considered at this time. the dow is up 150 points. we're not far off the all-time highs. both said september was a pretty good month. >> it is unusual september was a good month. it is often a down month when it comes back from the summer. when we started the month with all the trade war fierce it was not expected. in the low yield environment, with the u.s. strongest economy

alibaba, far and away the largest company market cap wise. it is these companies that will see outflows when it comes to u.s. investment, if with the trump administration is talking about goes ahead, and that is impacting the market today. amanda: we were already watching another stock that was feeling the effects of trade even before today's announcement, micron. take a look at this chipmaker. we know it was already implicated in the concerns around huawei. micron reporting its numbers. disappointing, saying sales will be lower, in fact, the fourth consecutive quarter where sales will fall 20%, specifically noting the trade wars continue to weigh on its outlook. it is a tough one, 10% moved to the downside. for more on the possible limits them may be placed on portfolio flows to china, we have shawn donnan in washington. onnie notes the market is ok, but the intraday fell off a cliff on this news. >> we understand there are active discussions happening inside the white house about how to essentially broaden out the trade war against china to

that was alibaba.vidual sellers work with each other. it was a milestone is alibaba listed its business division in hong kong only to d list five years later in performance sagged. however, the company made a big comeback in 2014, raising $25 billion in new york with the world's biggest ever ipo. >> everybody should have a dream. what if that dream comes true? >> asset markets aside, he leaves an empire that expands aggressively to retail, cloud computing, health care, sports, finn tech, and news media, to name but a few. it's in the face of growing competition in the slowing chinese economy could be sustaining the growth. he was warned about the u.s.-china trade war, saying the impact could last decades into the future, also urging businesses to find opportunities from it. -- september 10 is teachers day in china. ♪ that was just one of the many explanatory videos you can find on the bloomberg. you can also find them at bloomberg.com, along with the latest business news and analysis 24 hours a day. th

alibaba should have the same oversight as walmart. is a good reason some of these are being talked about. shery: given the close relationship between the communist party in china and not only private companies but also listed companies, how much credence do you give to those ideas that the u.s. is, in a way, underwriting beijing? leland: to some degree, that's true. is, china has reasons why they don't want u.s. law to penetrate chinese borders. this is not about chinese law. this is about chinese companies that go on u.s. exchanges. for all intents and purposes, people think they have the authority of the sec, the people have done due diligence on these companies, but they have not. companies will not allow inventories to come in and open up the books. this is less an issue of capital controls but fairness, an issue of transparency. they should be no question. on u.s. exchanges, companies are vetted across the board. is it your expectation that we will see more stimulus from the chinese government inside china? leland: we are already

that was alibaba. after that, he took a net ebay which let individuals trade with each other.listed this division in hong kong only to the list five years later as performance sagged. however, the company made a big comeback in 2014, with $25 billion in new york. the world's biggest ever ipo. >> everybody should have a dream. what ephedrine comes true? >> he leaves an empire that has expanded aggressively with news media the name quite a few. ahead, in the face of growing competition and the slowing chinese economy, sustaining that growth. he warned of a-china trade worth saying impact could last decades into the inter-. for growinguraged businesses to find opportunities from it. is severed is teacher stay in china. -- december 10 is teacher stay in china. >> that was just one of the many videos you can find on the bloomberg. on can also find them bloomberg.com along with the latest business news and analysis 24 hours a day. that will be get this week. thanks so much for watching. this is bloomberg. ♪ taylor: i'm taylor riggs in for emily chang. this is "best of bloomberg tech

business empire worth some $460000000000.00 but jack ma the charismatic founder of e-commerce giant alibaba has announced he will step down as chairman effective tomorrow my found of the company in his apartment 20 years ago and listed on the stock exchange and 2014 in what became the biggest i.p.o. in history will stay on what until his term expires next year. and that is your business update you on g.w. for me and the team in berlin thanks for keeping us company. he takes her slowly. with all the wonderful people and stories that make the game so special. for all true friends. played a leg up more than football online birth. poems to millions of species a home for saving. much of those are big changes and most start with small steps global warming tears tell stories of creative people and innovative projects around the world like to use the term the context to stick green energy solutions and reforestation. they create interactive content teaching the next generation about environmental protection and more determined to build something here for the next generation the luckiest the multime

the fund he oversees has strong and invest inina alibaba.n you heard the headline and again we want to make sure to stress the fact that the white house is considering imposing these limits, what was your thought about how this would impact chinese companies? i would say the short-term negative impact today. i'm not really clear of how they would go about doing this. at this point, i can't think of anything more than an empty what thed in terms of administration is trying to achieve, i don't see the end goal because in terms of having a direct impact on chinese companies ability to impact capital, it is not going to have that much of an effect. when chinese started listing the market, there were limited in terms of their ability to access capital. given where we are now with the alternatives, chinese companies can list in hong kong and u.s. investors can access the domestic markets now directly. it really is not going to have much of an impact directly in terms of chinese companies ability to get growth capital. useave alibaba trying to comp

alibaba listed division in hong kong only to delist five years later as performance sank., the company made a big comeback in 2014, raising 25 billion dollars in new york with the world's biggest ever ipo. >> everybody should have a dream. what if that dream comes true? >> it leads an empire that has expanded aggressively. the challenge ahead, in the face of growing competition and a slowing chinese economy, it may be sustaining macros. they warned about the u.s.-china trade war, saying the impact could last decades into the future and urged businesses to find opportunities from it. jack ma has not forgotten his roots. december 10th is teachers day in china. rishaad: the end of an era, jack ma stepping down. less than a year after the fall of carlos ghosn, the board is asking hiroto saikawa to step down following the scandal. we will have that story and a look at what is going on at apple because new iphones are on the way. i will tell you what to expect on apple's most important day of the year. this is bloomberg. ♪ ♪ juliette: you are watching you arek asia -- watching "

that includes possibly delisting chinese companies like alibaba and baidu from u.s.tock exchanges. the trump administration is weighing a new weapon in the trade war with china. we work snow show. we will review the week in tech. but first to our top story, the trump administration is weighing a new weapon in the trade war with china. bloomberg says officials are discussing ways to limit portfolio flows into china. a move that could include delisting major chinese companies like alibaba from u.s. exchanges. the move could impact of billions in the markets and the nasdaq s&p 500 and dow were all in the red following the report. joining us to discuss in los angeles is bloomberg's sarah is -- who's been covering the trade war. sarah, what is the goal of u.s. policymakers here? are they trying to punish or just protect u.s. investors? sarah: it's interesting that with the trade war this is not meant to be provocative or to push china into the corner and remind them of the leverage the u.s. has. that said, this capital, these talks in the capital restrictions on china are

that was alibaba.t, he took a net ebay which let individuals trade with each other. 2007 was a milestone alibaba listed in is this division in hong kong only to the list five years later as -- delist five years later as performance sagged. however, the company made a big comeback in 2014, with $25 billion in new york. the world's biggest ever ipo. >> everybody should have a dream. what if that dream comes true? >> he leaves an empire that has expanded aggressively with news media the name quite a few. the challenge ahead, in the face of growing competition and the slowing chinese economy, maybe sustaining that growth. he has warned about the u.s.-china trade war saying the impact could last decades into the future. he also encouraged for growing businesses to find opportunities from it. jack ma has not forgotten his roots. december 10 is teachers day in china. nejra: that was just one of the many videos you can find on the bloomberg. you can also find them on bloomberg.com along with the latest busines

in china, alibaba and richemont's joint luxury offering his gone live. has predicted that chinese consumers may take up almost half of the global luxury market by 2025. microsoft's largest reseller is planning ipo. the swiss tech firm to software one is planning a deal for q1. kkr intends to keep a significant stake after the ipo. that is your latest bloomberg business flash. let's check u.s. markets now, the final day of the quarter, a monday. s&pdow up about 0.4%, the up almost 0.5%, and the nasdaq up 0.4%. we will see if we can make it a positive quarter for the nasdaq. before today, it would've been down about 0.6% for the quarter to date. guy: with the holiday, china closed for the rest of the week, it is a very, very light market session in terms of volume. nevertheless, there are some interesting things we can take away. it is the end of the quarter. the ftse 100, finishing the quarter, looks like it is going to be fairly flat. some of the oil stocks, some of the drug stocks getting a little break today on the ftse 100. the dax being led higher by

. —— alibaba. google was hit bya billion. —— alibaba.ing concerns over its grip on the online advertising market. and apple unveiled its new iphone, which is giving some fancy creeps. more from the launch event in a bit. it was also the longest ever road trip by an electric car was completed. suvs from the shanghai carmaker travelled over 15,000 kilometres from china to germany, a journey which lasted for 53 days, called for 77 recharging stops, and resulted in a guinness world record. i hope they had toilet breaks. and sticking with motors, one day you may be able to redecorate your own in a jiffy. thanks to a new colour changing ink from mit, nicknamed photo—chrameleon after shape shifting chameleons, this futuristic dye reacts to different lights to produce various hues. and finally, here is a bright idea for a new breed of bot. the 0ssibot is powered and steered by light, thanks to a gel which bends towards and oscillates around sources of elimination. the energy—efficient contraption could one day allow seafaring vessels to travel l

shareholders in companies like alibaba, of course, as you know what happened there, which back in 2014 debuted as the top biggest ipo ever, absolutely hit the sell button on friday because people were very concerned about whether that was true. well, that stock, you have to see what it's doing now after multiple denials. what's the idea sent up by the administration as a trial balloon that fell flat? we will take you straight to the white house to find out where this idea really stands. as the u.s./china trade war simmers, house democrats have made their pitch on an updated free trade agreement with canada and mexico, and what it would take to get a vote. but how far are they really down the path to yes? the trade representative who pulled the original free trade agreement together is ready to game it. the ambassador has been there and is here in a fox business exclusive. wall street putting a pretty positive spin on the final trading day of the month and the quarter. what happened to september being the worst trading month of the year? historically, right? will we clock a monthly win?

nobody owns controlling shares in alibaba. that's what you own. i think it's like you said that ship has sailed. if you say you can't invest then you're going to cost mom and pop tons and tons of dollars. it's ridiculous. >> thank you for coming on with us and giving us the reporting that you have. >> keep an eye on the fxi. that's an index. it's a little bit convoluted. these are publicly traded companies that are chinese. >> look at the k web. you're seeing the move. >> you have invested in this. i don't know if you still are today, but you have. >> these are the large cap technology companies from ten cent to alibaba. chinese stocks do not punch at their weight class in the indexes. they are smaller in the international indexes in terms of representation than they are in market cap. a lot of that is because they don't conform to the same regulatory standards that american companies conform to. that's been slowly changing and we have been adding them more into the indexes. that's why there are ramifications for every investor. >> i think it's th

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and i believe you own chairs of alibaba. report change your thesis alibaba the the dominant online retailer in china, with, i believe, about two-thirds of market share would this actually affect its ability to grow? >> it's a good question. i even recommend it on the show, because it had gotten clocked in june over trade worries. when you look at their fundamentals, the trade concerns are not going to affect it listing is another matter. it could make it a little hard to own here, but we have to look at the ownership base, which this just happened today it's not going to change fundamentals i think a buying opportunity in setting up the stock is down nine points. if it goes down monday, i would be adding there. this does not affect the fundamentals, and i don't think from what we've heard so far, there are real issues as to whether any president could make this happen. >> let's continue a discussion on china trade kevin rudd, former prime minister of australia joins us now. he's currently president at the asia policy institu

i'm not sure twitter and snap have made that transition. >> alibaba. recently increased your position in alibaba. is that right? it's a small position for us. our bigger bet in china -- the chinese consumer is holding up. the headlines are quite negative on china. all multiples have compressed. we were buying it for less than two times for a company that was growing over 200%. so like we don't think china's dead. the economy is clearly slowing. we think ultimately reasonable heads will figure out trade issue, but pinduoduo will do great on the back of the chinese middle class irrespective of what happens in the trade situation. >> may we talk about so it much for obvious reasons back east, we're so close to d.c. and the news that filters out of the administration, how much are people talking about the trade war, impacts from china, directly on technology companies, whether the hit name has come across? >> look, some companies are more exposed to it, if are you sourcing products from china, obviously, this is something that's much more in your view than

cofounded alibaba in his apartment.wngrading them to junk. struggling toen win over wall street with his restructuring proposal. almost every u.s. state is joining in an antitrust investigation into google, focusing on the heart of its business, advertising. state attorneys general are citing concerns google is raising costs for advertisers and they question whether consumers are getting the best information from search results. tom: tony dwyer joins us quickly. i want to show a chart. it gives you a sense of the august range we were in. as markets went to sleep dwyer took a four week vacation. is it for real, and have we seen in equity breakout from the august quiet? tony: it seems like you have had a nice move out, but what people are really feeling over the last couple of days, you have seen the 10 year bond yield rise and there has been such a crowd that ,oved into utility, telecoms and defensive oriented stocks that they get hit. even though the market is breaking out, it doesn't feel like that to most people. tom:

he's being replaced by alibaba's chief executive daniel zhang.last month, the national grid has urged a review of the amount of emergency back—up power that should be held in reserve. the company, which holds the responsibility for keeping the lights on said that there should be an inquiry to "determine whether it would be appropriate to provide for higher levels of resilience in the electricity system." the amount held in reserve proved insufficient to protect the system against the unexpected loss of power at both an offshore wind farm and a gas—fired power station. tim green is professor of electrical power engineering at imperial college. good afternoon to you. this is just over a month good afternoon to you. this is just overa month ago, can good afternoon to you. this is just over a month ago, can you just remind us exactly what went wrong here? the details in this report are broadly similar to the interim report. there was a lightning strike which caused the protection systems of the national grid not to operate and that is fairly routine,

alibaba in his apartment.our bloomberg business flash. david: he was an english teacher. alix: amazing. david: he had a great idea and ran it out of hong kong. amazing story. alix: $460 billion company started out of the best on -- out of the basement. you have to wonder if that kind of thing can happen anymore these days. david: he had a really good idea, and was there at the right time, but he's also an extra in everyman. he's really smart -- also an extraordinary man. he's really smart. alix: that's great, but i'm also excited to see this party they are throwing in the elliptic stadium. -- in the olympic stadium. we turn now to wall street beat. first up, a mixed bag for banks. born aboututsche revenue decline -- deutsche warn about revenue decline. goldman is now one of the strongest contenders to lead the biggest ipo in the middle east. and softbank tries to get wework to postpone its ipo over concern about its business and corporate governance. david: here to take us through it all is sonali basak. let's

and now to some of the other business stories making the news chinese internet programmer and alibaba is to buy the e-commerce business cola from the chinese company net ease for $2000000000.00 the platform specializes in the sale of luxury foreign goods the purchase is part of alabama's attempts to secure a niche segments of the online retail market china's central bank has loosened its reserve requirements for commercial lenders across the country freeing up 120 $6000000000.00 for lending beijing's their latest effort to stimulate a slowing economy that has been hard hit by a dispute between china and the united states and the european union has responded to pressure from the european steel industry by reducing iran is in the quota of foreign steel allowed into the block from 5 to 3 percent the sector has called for increased protection due to u.s. terms. and back to china where a social credit system has not only businesses on the edge but also regular citizens they have to abide by strict rules set by the government and they affect every aspect of daily life including recycling. s

a business empire worth $460000000000.00 but jack ma the charismatic founder of e-commerce giant alibaba has announced he will step down as chairman effective tomorrow my found of the company in his apartment 20 years ago and listed on the stock exchange and 2014 in what became the biggest i.p.o. in history will stay on what until his term expires next year. and that is your business update you on g.w. for me and the team in berlin thanks for keeping us company. plane legs are no fun anymore to our series on tomorrow today we want to see what he saw to experience what drove the journey to london marathon the following in the footsteps of the great scientist played. last stop your solo pieces and the river and tropical forests unique biodiversity. tomorrow today in 90 minutes on d w. so the temple of technology. the result of the markets. the momentum of the board. made in germany. your business magazine d w. i don't think that that well i guess sometimes i am but i said nothing but that we should have been think sneak into the german culture of looking at the stereotypes of class but if

losses and then also for certain if you look at chinese companies that get traded here on wall street alibaba for example we saw quite a sell off there for example down by a good 5 per cent for the week by the way of the nasdaq composite so tech stocks down by a good percent by the broader market only lost about half a percent in the past week or 8 always another twist in this trade saga we'll see what happens next quarter there for us in new york thank you. over europe now where fred has released its draft 2020 budget spending plan calls for tax cuts for business as well as families it's a compromise plan with the yellow vest protests that began last year firmly in mind with interest rates at their lowest ever point following recent moves by the e.c.b. france sees a good time for the government and companies to invest and grow a massive tax cut is supposed to make it easier. for example these tax cuts will amount to $13000000000.00 euros for companies over 5 years attitude that's $27000000000.00 euros in tax cuts for households that's $40000000000.00 euros in tax cuts over 5 years which is m

business empire worth some $460000000000.00 but jack ma the charismatic founder of e-commerce giant alibaba has announced he will step down as chairman effective tomorrow i founded the company in his pop mentor 20 years ago and listed on the stock exchange and 2014 in what became the biggest i.p.o. in history will stay on what until his term expires next year. and that is your business update you on g.w. for me and the team in berlin thanks for keeping us company. alexander one he more of our series on tomorrow today we want to see what he saw to experience what drove the journey to latin america following in the footsteps of the great scientist. the. last stop your local basin and the river improbable forests unique biodiversity. to morrow to do it in 30 minutes on w. n n gemini if w. at any time i'm going anyplace easy names in the m.l.s. i don't like a bit of the missing along so you see this to come from super fun seats. for. interactive exercises. everything is online via an interactive benjamin to frame 50 w. . natural riches of precious resources. and a rewarding investment. farmland