so you may recall alibaba. ultimately receive a fines, 2.8 billion usd from china's antitrust authority. but this was nothing compare with the market loss it has received on the day of the announcement of the investigation and over the following months. this farm. over 75% of its market cap. so at its peak in 2021 alibaba was worth over hundred billion us dollars and today it really struggle as a firm that is worth so so this is what the book talks about i mean, the book talks about china won an initiate a tech crackdown and how it went about doing that and what are the consequences and the implications for both china and the world. now, the book not only talk about how china regulate its own tech also have implications for companies operating in the united states. as you know, a lot of the chinese subsidiaries of chinese are of chinese tech firms and doing very well in the states recently. and the most prominent example is tik talk, which is now i saw radio one online, a participant already raised question abo

>> alibaba is going to lift her foot off the pedal. it's going to shift here towards alibaba clout.he good news is that we are not going to actually see a lot of that incremental spending, but likewise, you will not see the company in a position to really monetize the paris olympic sponsorship. some of the other companies that actually have the on-demand video rights may be in a better position to monetize on the paris olympic stan alibaba. -- the paris olympics than alibaba. paul: plenty more to come. this is bloomberg. ♪ this is our future, ma. godaddy airo. eates a logo, future, even social posts... in minutes! -how? -a.i. (impressed) ay i like it! who wants to come see the future?! get your business online in minutes with godaddy airo starting a business is never easy, but starting it eight months pregnant.. that's a different story. i couldn't slow down. we were starting a business from the ground up. people were showing up left and right. and so did our business needs. the chase ink card made it easy. when you go for something big like this, your kids see that. and they believ

alibaba expecting ai to boost global trade. our exclusive interview with ceo kuo zhang is up next. this irg. ♪ paul: all right, just want to recap those china trade numbers for may. 7.6% increase in exports on year. 1.8% decrease in imports. a big beat on export, myths on imports. seasonal factors, low base effect at play here. the trade balance was a beat. alibaba has launched a cross-border service to help streamline operations for businesses in the u.s. and beyond. kuo zhang spoke to bloomberg exclusively about the expansion plans and the effective tariffs on its platforms. kuo: alibaba.com, we serve about 200,000 sme's, suppliers in china and also globally. what we see this year versus last year in servicing. first is more and more sme's. they are more willing to sell globally. one example is, so there is a small city, commodities setting and distributing. for the first quarter of this fiscal year. so customers who joined alibaba.com actually grow 70% compared with last year. >> where are you really aiming to expand than alibaba.com? which markets are you going after? zuo: so,

chillmaster, alibaba. >> alibaba's the only chinese stock i like. but remember, you're in the crosshairs of the government there. we have to engage the government. i'm not saying against that. but alibaba is incredibly cheap. my friend dave tepper, i'm actually proud to call him my friend, who owns the panthers. he and i both think this is the cheapest stock in the universe. but if the government doesn't want it to appreciate, well, then it just won't let it. and thank you, debra. thank you to all the nice things you said. the jim master thanks you. and your voice. maybe you work on that during your day job. listen to me, the street might be root forget a weaker job market so the fed can start cutting rates. but keep in mind what you're betting against if unemployment stays below 4%. "mad money" tonight, after its first ever investor day what does the company have planned to help it cruise into the future? i'm sitting down with the man in the driver's seat after today's event. campbell's earnings crossed the tape yesterday. i've got the ceo to get a

ed: alibaba njd are big-name compatible acts. it is an important launch. what is the latest?the vision pro goes on sale in hong kong and china at the end of the week. i do not think if it matters if alibaba or other applications are on their or not. it helps. the big story is sales are not going to take off until the company is able to make a version about half of the price. i reported over the weekend apple is still planning to release a cheaper model as early as the end of next year but they are struggling given how expensive the components are. and if they start reducing functionality, you are down something on par with a competitor in meta. apple has a long way to go with the vision pro to make it a success. ed: mark gurman, thank you. there is more with apple which will be withholding new technologies from millions of consumers in the e.u. citing concerns to reign in big tech. at the same time, reports over the weekend about its partners. it is great to have you in town. i want to get to the reports from the wall street journal. it is that apple would look at meta's and

similarly, hackles, gain access to more than 1000000000 data records at chinese online shopping dining alibaba. and it took over a year before the breeze was even notice, much of the store and data is sold on the dock. i had groups such as lock bid 3 point no, show off their successes on the data page. hardly looks like the document does it. if you want to find out whether you've been hacked, you can do so easily online. the hassle, talking to institution identity li check out or being pulled out. just 2 websites that to collect information on compromise the accounts you just enter your email address to find out. and if you're lucky enough to have been hacked or even locked out of an account, 1st and foremost, stay calm. the 1st thing you want to do is change passwords in all the accounts possible. you don't know what the criminal already has access to, so try to change passwords everywhere. some accounts, you might already be locked out of don't panic. in that case, there really is no stigma anymore about it. contact the technology provider, google, microsoft, facebook, whatever it is, the ol

alibaba card is doing something similar.ad for chinese developers that want to incorporate ai into their products. —— alibaba cloud. and good news for discoveries wanting and hoping to make profits in the field. fiifi profits in the field. 0k, suranjana. _ profits in the field. 0k, suranjana. thank - profits in the field. 0k, suranjana. thank you l profits in the field. ok, i suranjana. thank you very profits in the field. 0k, suranjana. thank you very much indeed. —— good news for chinese companies wanting. to china, now, where the latest smartphone tech innovations will be showcasing at this years mobile world congress in shanghai. this year the focus will be on 5g and artificial intelligence. the market in asia is huge with most of the big names in the industry there to make their mark. so what can we expect? i am joined from the congress by mats granryd, to talk us through it. he is the director general of the gsma, the organization that represents mobile network operators worldwide, and one of the event organisers. good t

and all the technology for the seller and the buyers. >> that was the alibaba president. another chinese name as we had to break, earnings beat expectations. the company also expanding to new markets. the middle east looking at europe and other parts of asia. its first foray outside of its domestic market in china. be right back, this is bloomberg technology. ♪ ♪♪ sandals jamaica sale is now on! with rates from $199 per person per night. visit sandals.com or call 1-800-sandals >> if we take out the 73,000 of the next week or so we will end the year at 100,000 or even higher. markets create ranges when the top of the range breaks. you have a nice extension and so if the bottom of that range started around 40, 7 -- 40 to 70 and then 70 goes to 100. caroline: bold calls for his outlook for bitcoin as it hovers near that record break joining us for what fundamentally or not is pushing it higher, lara krieger. great to have some time with you. there has been this focus at the moment the political sudden tailwinds in the u.s. aren't being baked into crypto's price points right

that includes sponsorships by the likes of audi, dustin, coca cola, there's china, alibaba group and the state of katara. all these contracts are bringing into 1000000000 bureaus as to that tickets and hospitality sales including v i. p. lounge is on the other side, if i expect expenses of 650000000 heroes, including 331000000 in price money for the competing teams. as well as the costs of key and infrastructure and salaries for the risk wave. i was expecting a profit of 1700000000 euros at his tax free due to a new agreement, the group has extracted from the german government who's missing out on 255000000 bureaus. but that's not all. the german government also pays hands simply for the privilege of hosting the tournament over 600000000 euros. the 10 host series was spend the combined 260000000 on the festivities. it cost a $165000000.00 euros to renovate stadiums. that security will be another $150000000.00 bureaus. so with all that money spent, is there a silver lining? there is the european championship will bring millions of tories to germany and they will be spending money. hot

for the past 18 months or so, they literally went worldwide talking to circle, ripple, the alibaba ofe world, to make sure that government really are on top of regulations, to basically have very clear guidelines to approve various institutions to be able to support stablecoin. in that sense, in the cross-border payment, if we just purely let others define what stablecoin is about, it's really not good for the long-term finance ecosystem. the u.s. really needs to get our act together and catch up with, in europe, with micah, or hong kong and singapore, which already has clear recollections. tim: so, you need to catch up with hong kong, singapore, and europe. what would you advise regulators when it came to stable wine? what do you want to see them do? edith: to start with, be more clear on which way we stand. it's great to see the fit 21 go through the house. still, we don't know. we need faster regulation. it's just that, to the rest of the world u.s. regulatory environments always seem a bit disorganized and chaotic. i think that just, for the u.s., unfortunately, for a lot of thing

alibaba, you know, you had a 40% move. china has been very choppy. we pulled back. the fund. i still believe in international and owning blue chip global companies. that's what we do in that etf. chevron, look, i love energy here. i still think the pullback that we've had recently across the energy space is not commensurate with the cash flow generation. obviously, the price of oil that be largely very stable. if anything, it's rallied in the face of a higher dollar. there's a lot to do in the acronym game, and i think it's still relatively early in the season. not ready to, you know, anoint any victories yet, but i do think it's been a challenging year for anything that's been exposed to discretionary. cheap value stocks have gotten cheaper. >> tim, thank you very much. >>> when we come back, we'll give you our final trades. umm... first word. - tonsillitis! - nostril! uh-uh... bill! uh-huh... - hip-hop! - limping! mmhmm! medical bills! uh-huh! - pancakes! - cash! who pays you cash when you have medical bills? grrr! no idea. [tapping] gap! the gap left by health in

drop shipping, where someone buys the products on the cheap from an online wholesaler in asia, like alibaba, for example, and then marks the price way up and sells it in their online store as their own product and makes a profit on the margin on the arbitrage. so this would be what the you could then do with russian gas. so why is that you even bothering putting on this also anyway? because virtue signaling for ukraine is a whole lot less damaging, then actually carrying out the kind of self owning it is the they displayed earlier on in this conflict. like when they said they do something that sounded suicide or like cutting themselves off of russian pipeline gas. and then they actually did it . and every day, the repercussions of that are still felt as this industrial founder just explained this week, your semester federal technical stuff. everybody's leaving pets, chemicals in your just, i've never seen in my working life before america or in a great place manufacturing because she knows it, but she financially is. i've got no calvin, texas is really important for me to call him at the en

drop shipping, where someone buys the products on the cheap from an online wholesaler in asia, like alibaba, for example, and then marks the price way up and sells it in their online store as their own product and makes a profit on the margin on the arbitrage. so this would be, would be, you could then do with russian gas, sure ships carrying russian fuel. you can still come here to the you, but you have to leave your russian fuel here, catches transfer it offshore to another country. so they could do a deal with russia directly. we're going to be the middle man and make some money off of it and i guess stick it to fruit in, in the process. sounds like they're really sticking it to food and all right. yeah . so why is that you even bothering putting on this also any way? because virtue signaling free crane is a whole lot less damaging, then actually carrying out the kind of self owning idiocy they displayed earlier on in this conflict. like when they said they do something that sounded suicide and like cutting themselves off of russian pipeline gas and then they actually did it. and every d

bear in mind, alibaba is on the hunt and trying to get its china e-commerce numbers growth to doublehey are successful on the back of the promotions they have launched so far in 618. david: catherine lim, our senior analyst at bloomberg intelligence. if you were wondering why he was showing up on the screen, he is part of the conversation around the health of the consumer. pricing might be underscoring a sobering reality. the price of a bottle of a liquor hit a record low. and according to bloomberg intelligence, that signals a slower recovery in consumer spending. italy -- our senior analyst is here to talk us through how we should be thinking about this price drop. >> if you like at 2023 vintage which is a flagship product. it is currently trading at 2600 a bottle which is 30%-40% lower than the beginning of the year. the price of what the consumer is willing to pay for a bottle of this liquor has dropped significantly. when you look into this, you can see that the consumer demand is an issue. this is consumer demand driven price. that is why everyone is quite concerned. if you loo

he thinks that alibaba is the cheapest stock on earth but there is a level of risk that we're not usedo, and i think that's the same problem with all of china. if we have a thursday, if trump does really well on thursday night, then i think that you're going to say, no, whatever nike's going to make in china, i'm going to take that back. in the same way the chinese are punishing eu by saying, look, you want to put a big tariff on our evs, we'll put a big tariff on mercedes and beamer, and those are really important companies in germany. >> the trade tussle between the eu and china is intense. they've agreed to some talks. they're floating some perks for german car makers to avoid what they hope are going to be -- hope to avoid some of these tariffs. >> they have to. obviously, they want to make some money, the eu, off apple, which is what we're all sick of. today's was -- was really, really hard to understand. they want to -- this is the eu commission. they want to prevent -- they think apple is preventing app developers from freely steering consumers to alternative channels for offers

you mentioned alibaba and tencent as potential opportunities there? asia and japan and china, versus opportunity sfrets a valuation perspective, you can find the greatest selectively value in china. the blue chips like tencent and alibaba, some of their best companies, but they're also some of the lowest value. on the other hand, as we all know, we've been talking about the japanese markets have this huge run, and we have prices that have gotten ahead of the fundamental quality levels as defined by return on capital, return on equity. you know, japanese companies historically as they do today, sell at lower -- they have higher valuations than the rest of the world outside the u.s., but their quality metrics such as return on equity are well below the rest of the world. a value to us is the price you pay for what you get. if you pay a higher price and get lower quality it makes it harder, not impossible, but harder to find value. >> yeah. it's interesting, it qualifies as a contrarian take given there's a lot of momentum chasers in the japan market. we

the regulatory crackdown that took down financial, it chopped alibaba out at the knees. other crackdowns on the property sector as well as online education, gaming and the like simultaneously kind of hurt the confidence. now china was trying to restore that confidence, they are trying to restore confidence in the domestic economy that is hurt badly by the property crisis that creates about a quarter, if not, upwards of a third in the past. economic growth in this economy and it has really set consumer confidence. the downturn that we really saw in january, but again, going forward, the premier feels confident they will reach the target of around 5% gdp growth. but again, we will have to see. haslinda: exactly, we will have to see, which is at the halfway mark. stephen engle, we thank you so much for that update. staying with china, our next guest believes the economy will need more support to reach its 5% growth target. let's being the chief investment strategist at bank of singapore. he says he's confident, are you? >> they have the dry powder to reach the 5% goal if th

alibaba and jd.com going on all out for the spending event this week. down. another company on the pulse is payoneer. shares are higher this morning. you see they are up 1.5%. they are down 10% since the coo announced he would depart at the end of the month. u.s. consumers make up one-third of commerce buyers. payoneer clients are airbnb and etsy. we have john here with more on the subject. what are you seeing right now? we talked about the retail sales numbers this week. the consumer is under a bit of pressure. what are you seeing? >> what we saw is double digit, 13% growth, of the volume going to snb that sell on marketplaces. we had 19% growth in q1. we just had a survey of snbs all over the world. in that survey, we saw snbs are increasingly doing business in more countries around the world. 4% growth from 42% to 46% of global snbs choosing to do business across borders. >> small and medium businesses. we mentioned in ebay and etsy. what are you hearing from those customers across border commerce? cross border ecommerce includes other countries and

perhaps baidu or alibaba. apple runs on its own a.i.odels on the smartphone or device or in the cloud. if you are bringing out a model in china, that needs to be approved by the regulatregulato. apple needs to submit this to the regulators before it is an approved. apple made a huge play about privacy. any a.i. processes processed in the cloud will not be seen by apple. that data will not be stored and it relies on encryption. in china, chinese customer data on icloud are stored on servers run by a third party. if apple is saying cloud compute is run on its own servers, it issing interesting to see if they can replicate that in china. it is interesting to see if the chinese authorities are on board with that. those are the three big areas. >> it feels is there a dilemma here. you have the privacy element and whether apple is likely, at all, to use the a.i. servers. on top of that, the possibility of having to choose a domestic partner here. ultimately, what do you think is more likely for apple to succeed? >> i think it will be a marath

if they have talked to alibaba, and some others. they don't have an agreement in place there and until they can get an agreement for third-party chatbot integration they won't be able to rollout apple intelligence in a meaningful way. i would expect that to come together sometime by the middle of next year. ed: apple has raised its friday gain and is flat but up on the week. coming up on bloomberg, we are joined by allie love to discuss the technology at m&a market. taking a short break, this is bloomberg technology. so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer

>> probably get rid of it and even if it trades up, it's just -- similar to alibaba and some of the other to make of this administration, so -- i can't hold it. >>> coming up, a safety scandal hitting shares of toyota. what it means for the global auto giant and the international competitors, next. >>> plus, a shot in the arm for structure therapeutics, all thanks to a weight loss pill. we'll dive into whether the latest trial results set it up me compete with the biggest nas in the industry. that's next. we're here. (♪♪) surprise!!! the future isn't scary. not investing in it is. car, were you in on this? nothing gets by you james. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com >>> welcome back to "fast money." toyota tumbling after the company halted production on three of its models due to inadequate safety tests. the news, the latest in a slew of allegations of falsified safety reports from companies including toyota, honda, and mazda. toyota says it does not plan

broadline, the three biggest winners here offer convenience and value, that's amazon, ebay , and alibaba is fading negative on restaurants and hotels. that was number one for a long time. i have less than a minute to go, 30 seconds. i want to give you some props, if you don't mind. okay, only a couple months ago, april, may you were here. >> yeah. charles: you gave these stocks, up 37% on gap, 59% on abercrombie & fitch, 13% on ross stores, 33% on lulu, one of the worst performers. you caught the got there. are you hanging in with these? are you long these? full disclosure i sent alert to my subscribers take profits on abercrombie. i blinked. the gap and amazon are most likely to beat earnings estimates and post a positive surprise in q2. abercrombie, analysts are raising their earnings estimates for that. it has positive price momentum in its favor. now again we talked about value wins. off price retailers are projected to do really good for back to school. athleisure, sporting goods will continue to benefit lulu. charles: so hang in there? >> hang in there. charles: great stuff. >> alw

payment for those chemicals are being made to group cryptocurrency, bitcoin, western union, paypal, alibaba and other sources. in 2024 dea continues to , innovate and to work with urgency to save american lives. the insights we have learned from our counter threat teams, we are taking them and building the next step in the global fight against the trident directorate. this directorate consists of two dea-led joined a personal task force is staffed by individuals from across u.s. law enforcement, military and intelligence communities. trident will allow us to leverage all of dea's critical information on the cartels with our state, local, federal, intelligence and defense partners. we very much hope congress will continue to support this work and help us defeat the cartels. before i close, i imagine you have read press reports regarding the doj proposal to reschedule marijuana. because the formal rulemaking process is ongoing, and my role in the process is to determine the scheduling of drugs, they would be inappropriate for me to respond to questions on this rescheduling matter. i also want