that's on hold at the alibaba group shares that at the moment they dropped about 5 percent they dropped 3 percent when the market opened in hong kong on thursday at the chinese regulators have said that they wanted to touch one troll over these tech groups across the mainland and clearly alibaba group has been the target now state media has released one line about this announcement on thursday there's no detail yet as to what kind of penalties will be involved there are certain things about sort of what the who called. tensions are high in the central african republic ahead of presidential and legislative elections on sunday a new alliance of groups calling itself the patriots coalition for change has threatened to march to the capital bangui the united nations mission says it's pushing back the rebels to prevent them from taking control of important supply routes and strategic towns catherine soy reports now from bangor. make. wide quickly spread that troubles could be making their way to the capital who are in the city center and suddenly everyone around us started running and traders

beijing is expected to probe alibaba group on suspected monopoly. gulators are expected to summon ant group for a meeting, this coming after an abrupt suspension of their ipo. we have seen jack ma now scrutinized by beijing beingities after that ipo shelved, which was supposed to be the world's largest, surpassing saudi aramco. but recently, beijing authorities have been changing the landscape of regulation when it comes to fintech. and now, we are hearing china will be probing alibaba group on suspected monopoly. this as we continue to see efforts in the country to rein andech giants like alibaba their fintech branch and group. let's turn to markets, sterling exit -- on a brexit outline deal. investigators are putting the finishing touches on a deal but it was enough to send able higher. the bloomberg rates reporter joining us now. david, sterling has risen on the news of the potential deal but still remains below the december high. what is happening? david: yeah, that is the interesting thing. basically the markets have already priced it in now. bu

china's regulator has launched an anti monopoly probe into the alibaba group the commerce giant 10 it's found the jack ma have faced increasing pressure from beijing over expansion plans last month the initial public offering a value barbour's affiliate and group was unexpectedly suspended just 2 days before its scheduled debut sarah plant is following developments for us from hong kong. well look it's a huge blow to the alibaba group as you mentioned state media made this announcement on thursday by the news agency that the tech giant would be investigated over allegations of monopolistic practices are it shows the for the tensions between jack ma he's china 2nd richest man and also worth around has a net worth of around $50000000000.00 and of course president xi jinping and it comes after you mention the ad listing the shelves this was the jewel in the crown of the empire it was to be the largest i.p.o. on the stock market but as you mentioned it was shelved after its debut was meant to go ahead in november it was to have a jewel listing in shanghai and in hong kong jack ma decided to

it's affiliated with the e-commerce giant alibaba group and operates the payment app alipay. tchdogs including the people's bank of china and the china banking and insurance regulatory commission announced on sunday that it asked the group to review its business practices. ant group had expanded its financial services to include small loans and insurance. the regulators ordered that it return its focus to payment services and establish a new company to extend loans unde their supervisn. alipay is estimated to have more than 1 billion users, mainly in china. last month, ant group's initial public offering was suspended following a meeting between chinese regulators and company executives. the chinese government has been intensifying pressure on alibaba after its founder, jack ma, criticized financial authorities. the government launched an anti-monopoly investigation of alibaba's business activities. ♪ >>> let's check on the weather now. here's a look at the three-day forecast for cities around the world. >>> that's all for now on nhk "newsline." we'll be back with the latest a

tech giant alibaba group reported its singles day sales totalled about $74 billion.he regulator said the e-commerce retailers raised prices before the sale to make their discounts look larger and also made false advertisements. it fined the companies, which include alibaba and jd.com, about $77,000 each for irregular pricing. china has increased regulation of internet giants in recent weeks. in november, the government announced a plan to tighten control of deals made by firms that exploit their monopolistic positions. >>> china and the european union have reached an agreement on a business investment deal that took seven years to negotiate. leaders of china and the eu held a video conference on wednesday and agreed on a pact aimed at boosting investment between the two sides. a focal point of the discussions was the protection of workers in china. the eu says people in the uighur autonomous region are being used for forced labor and urgeshina to improve the situation. another sticking point was china's practice of forcing european businesses to transfer their techno

china turns up the heat on jack ma telling his group to go back to its roots. alibabaunder scrutiny. shares are slumping again in hong kong. admits the brexit deal doesn't go far enough. and weekends u.k. financial services. it says there isn't time to read the deal for the common folk this week. markets are moving and alibaba is trumping the agenda for sentiment. the battle between tech and virus and pandemic relief. >> you have vaccine optimism outweighing concerns about the virus. president trump signed the stimulus bill and getting a boost to sentiment. we are focused on what is happening with some of the broad indexes. u.k. is looking pretty solid. stocks and year-end dividend payments. some say it is pushing the cost be higher and we see that coming . have a look at what we are seeing in this tech selloff with the hang seng. and the hang seng tech index dropping for a fourth consecutive session, dropping after we were told about the rebound from chinese regulators and also the fact that alibaba raised the stock repurchase program to 10 billion. of this clampory d

been in constant telephone contact china's regulator has launched an anti monopoly probe into the alibaba group the e-commerce giant and its founder jack ma has faced increasing pressure from beijing over its expansion plans last month the initial public offering a valid bubba's affiliate and group was unexpectedly suspended 2 days before its going to debut hundreds of migrants have been left with nowhere to sleep after fleeing a camp court foreign post near the camp has been strongly criticized by rights groups because of a lack of resources and was due to close all right you're up to date with headlines more news coming up here in algeria right after rewind wife and. one of africa's most troubled nations heads to the polls for presidential and parliamentary elections in a country plagued by violence and political instability could this bring the resolution that is desperately needed central african republic elections on al-jazeera. hello i'm adrian finnegan in this episode we're revisiting bangladesh where a few years ago a garment factory collapsed and killed over 1000 people working inside

well it's a huge blow to the alibaba group as you mentioned state media made this announcement on thursday via the shin wa news agency that the tech giant would be investigated over allegations of monopolistic practices that shows the for the tensions between jack ma he's china 2nd richest man and also worth around has a net worth of around $50000000000.00 and of course president xi jinping it comes after you mention the ad listing the shelves this was the jewel in the crown of the empire it was to be the largest i.p.o. on the stock market but as you mentioned it was shelved after its debut was meant to go ahead in november it was to have a jewel listing in shanghai and in hong kong jack ma decided to make the listing in the region as opposed to the united states due to what he described as geopolitical tensions on the regulated said this particular listing it didn't meet the disclosure requirements as a result by shoulder that was after a recent interview that the regulators had with jack ma and his executives so it certainly shows that china is now looking to tighten its controls over th

wider government crackdown on china's booming internet space it's also yet another setback for the alibaba group which planned a jewel listing of us and company last month regulators said it didn't meet disclosure requirements and the i.p.o. was shelved 2 days before its market debut. as we all know it's already the largest online payment service provider in mill in china and still have a lot room to grow most of the mainland part and they don't use cash anymore they simply use cell phones to pay everything not only apparel not only look at all the classes but even they buy a car they don't use a mobile phone and group is the crown jewel in the alley barber empire the listing was expected to raise as much as $37000000000.00 that would have made it the world's largest i.p.o. since all giant saudi aramco listed last december the largest i.p.o. today is i believe the saudi arabia oil company which is just a couple of years ago at 28000000000. sister company alibaba went public in 2014 listing on the new york stock exchange in a $25000000000.00 flight this time the company chose the domestic market

wider government crackdown on china's booming internet space it's also yet another setback for the alibaba group which planned a jewel listing of us and company last month regular has said it didn't meet disclosure requirements and the i.p.o. was shelved 2 days before its market debut. as we all know it's already the largest online payment service provider in $1000000.00 china and still have a lot room to grow most of the mainland part cash anymore they simply use cell phones to pay everything not only apparel not only that you know but they buy a car. and group is the crown jewel in the alley barber empire the listing was expected to raise as much as $37000000000.00 that would have made it the world's largest i.p.o. since oil giant saudi aramco listed last december the largest i.p.o. today. of the saudi arabia oil company which is. a couple of years ago at 28000000000. and sister company alibaba went public in 2014 listing on the new york stock exchange in a $25000000000.00 flight this time the company chose the domestic market in china for its debut but the mega float is on hold for now this l

overall business right now >> so i mean, i think -- i guess you refer to the e-commerce part of alibaba groupthat's the entity in the u.s., and i think it is not -- it's not a dynamic strengthening monopoly it is, of course, still the largest market share in the e-commerce business. it's about 55% of the e-commerce market, versus three or four years ago it was more than 70% the monopoly has already been weakened and i'm sure you're aware, it's relatively new, more innovative platform and that's the market answer to alibaba's e-commerce mondopoly. the market had an answer for it. and if you look at the market share three, four years ago, it was 3%, 4% of the total e-commerce now today, after covid, it's almost as high as 20%. so it's growing at five times faster than alibaba. jd.com, although it's still smaller on a market share basis, it's growing faster. so it's hard to argue alibaba actually has a monopoly in the marketplace. when jeff bezos was in dc, how he defined the market share, he said he's only about 15% of the retail market, even though he's 50% of the e-commerce in the u.s. so if

the alibaba group faced accusations of running a monopoly over the aunt group -- ant group.lready offered to give up some control in an attempt to get the ipo that contract. the u.k. has delivered an unwelcome's christmas present, forcing much of england into lockdown. most of the south will have restrictions, with nonessential shops and businesses forced to close, along with bars and restaurants. the government says the variant is spreading at a dangerous rate, but it is not confirmed it makes people more sick. japan's ruling liberal democratic party is planning to summon the former prime minister to parliament to be questioned about party funding. the money was properly -- in probably used to subsidize for voters with expenditure not correctly reported. he was voluntarily questioned on monday. the secretary has been indicted. --sident trump has barred in pardoned more people close to him, including paul manafort, who was convicted of financial crimes in illegal lobbying he was the highest figure convicted in the russia inquiry. the president pardoned his longtime political

wider government crackdown on china's booming internet space it's also yet another setback for the alibaba group which planned a jewel listing of its ad company last month regulators said it didn't meet disclosure requirements and the i.p.o. was shelved 2 days before its market debut. as we all know it's already the largest online payment service provider in 1000000 china and still have a lot room to grow most of the mainland part and they don't use cash anymore they simply use a cell phone to pay everything not only apparel not only that you know the $0.05 but even they buy a car they don't use a mobile phone and group is the crown jewel in the early barber empire the listing was expected to raise as much as $37000000000.00 that would have made it the world's largest i.p.o. since all giant saudi aramco listed last december the largest i.p.o. today is ability of the saudi arabia oil company which is just a couple of years ago at 28000000000. and sister company alibaba went public in 2014 listing on the new york stock exchange in a $25000000000.00 flight this time the company chose the domestic m

alibaba shares dropping again sharee -- upping its buyback program to $10 billion. this is bloomberg. ♪ ant groupas been ordered to return to its roots as a payment service. alibaba tumbling in hong kong despite expanding its buyback program to $10 billion, taking hit from beijing's tighter scrutiny of its e-commerce business as well. asia investment editor lily chan joins us. what is the pboc demanding from ant? how will this affect future ambitions? >> well, the pboc paraded ant for subpar corporate governance. this is one of the harshest criticisms against ant and also jack ma's empire. on the other front, its e-commerce business, the company is facing pressure from anti-monopoly regulators looking into, investigating into the company that's tanking alibaba shares. shares down 5% in hong kong trading. how worried do you think alibaba really is about the scrutiny from china? >> well, alibaba and jack ma, there are no -- they are no strangers to regulatory scrutiny ever since the inception of the company. they have managed to overcome hurdle after hurdle, pushing the envelope over and over again

cloud business >> hans, what about the intranet sector and at large, does the action against alibaba/ant groupation for other tech giants like tencent >> yeah, i think the alibaba might be the one going forward and i think there are some areas that could be a risk, given the market dynamic in the competitive landscape. and also controversial business practice so i would think the full delivery market or the transp t transportation or maybe the social media would be at risk. >> hans, did you say -- did you say that you think there's already investigations into other chinese big tech >> no, no, i mean there could be potential risk >> there could be? >> in other areas. >> okay. >> hans, we'll leave it there for now. appreciate it. thank you. >>> 58 billion in two-year notes up for auction just motels ago let's go to rick santelli in chicago. rick, what is demand like? >> you know, demand was holiday-ish, it wasn't terrific. i graded demand as "d," "d" for dog. the market issue was very wide all morning so it should not be surprising the 58 billion by the way is the largest two-year note auction s

last month the initial public offering of alibaba's affiliate ant group, a mobile payment provider, wasuspended a. a meeting between chinese regulators and company executives. the move derailed what was set to be the world's largest ever stock market debut. >>> and now we turn to world weather with our meteorologist yoko komagata. yoko, we've seen lots of snow in the northwestern part of japan. how much snow are we talking about? >> we've had the first major snowfall from hokkaido all the way down. a few centimeters of snowfall on tuesday morning. snow showers will continue to impact the northwestern side of japan through the earlier part of the week. we saw 71 centimeters of snowfall in fijiori yamagata prefecture for the last 24 hours. the heavy snowfall has been affecting morning commuters. let's take a look at this video. cold air is causing heavy snowfall in northwestern japan on tuesday. 62 centimeters of snow has been reported in iwate prefecture, which is the record for december. people should expect traffic due to heavy snowfall on some major roads. snow on the roads will furth

there has been a group of people who said, that precipitated the increased scrutiny, the regulatory crackdown, on ant, and on alibaba. another group of people said actually, jack ma probably knew ahead of time that something was coming down the pike, and this was something he was doing to try to stop that from happening. so if you look at the coordinated way the central banks, the antimonopoly agency, lots of government departments, have, in tandem, taken action the last couple of months, that would seem to suggest this was an idea that was being worked on in the background for a while, before some sort of consensus was reached, that this needed to be done. paul: john, is jack ma being singled out here? or should some of china's other big tech entrepreneurs and internet giants, be looking over their shoulder? >> i think big tech everywhere is looking over its shoulder at the moment, and for good reason. i will give you one example. regulatorsone of the in china called in alibaba, jd.com, toitwan, talk about rebuying businesses all of them had been introducing recently. and you factor in the facebook, google, amazon,

alibaba shares sinking as chinese authorities tell ant group to shrink its business model.ole chinese tech sector now at risk? this is bloomberg surveillance. i am in for francine lacqua and tom keene, both of whom have a day off. let's check the headlines you need to know about. i

moments ago saying china may be looking to shrink jack ma's empire, consists of alibaba and alibaba affiliate and groupthis would be significant because we thought perhaps this could just be a slap on the ris to ma to set an example but this would be taking it further and suggesting that some of these business, at least parts of them, would have to be handed over to beijing, something in the past that jack ma has vowed not to do. >> it's a tightrope for them i talked a bit about it earlier on the program as well it's been a tightrope for mr. ma as well. he is by far the most influence and well-known business figure in the country, having sat down with him any number of times for interviews, even during the course of those interviews it's always interesting in terms of when the conversation returned to the communist party and to the government and regulators but he's been somewhat outspoken at least for a chinese businessman back in 2015, he had some criticism, the meeting that he had. i talked about this yesterday with donald trump, when trump was taking office four years ago. got the attention of the

aunt group company over to the chinese government to as allowance to allow him to go public as alibaba groupooking to strengthen its relationship to get his deal done. this story goes by saying that jack said to the regulators you can take any of the platforms and as long as the country needs it. this offer was not previously reported this is first in "the wall street journal" this morning. and it appears to be a bit of a mare g sitting there face-to-face with chinese regulator who is pulled this deal this was a huge piece of business, obviously. >> this is apparently he angered beijing when he lashed out at president xi jinping rules and his campaign took control financial risk. >> yeah. i have so much to say about this. i wish we have it all morning but thing i would say is that -- this i think you use term worst fear realized but this story is a big, big deal one of the big complaints about these chinese firms that has not been realized up until now is that the government can comfort some in because of their authoritarian regime and strong arm any particular company into doing whatever it

jackie, good morning, merry christmas, regulators in china are taking action against jeff ma's alibaba and ant group launching an antitrust investigation into alibaba. they're accusing it of pressuring merchants to not sell goods on any other platforms. regulators also sitting jack ma's financial group, the spin-off ant group, that's all in last month's shutdown of the ipo. china central bank says it will meet with ant group to implement regulations and the stocks are getting hit. they are terminating partnership to develop 0 omissions garbage truck and accused ceo of making false statements about the technology and last month general motors backed out of a deal that would have given it an 11% stake in nokola, the shares are trading up by 1% nonetheless this morning. nba already facing setbacks in the new season, the game last night between houston rockets and oklahoma city thunder postponed. 3 rockets players tested positive for coronavirus meaning houston didn't have the required 8 players needed to play ball. and finally, jackie, the video game industry is on track to top revenue brought in by sp

plunging 8% coming on the heels of last week's losses after chinese regulators ordered alibaba affiliated ant groupo rectify its businesses and comply with regulatory requirements following a weekend meeting with execs. the demand comes as antgroup faces accusations of monopolistic sectors the uk is expected to roll out the astrazeneca oxford university vaccine to the public there next week. according to reports, the government hopes to give out the first doses of that treatment starting january 4th, to 2 million people over the first two weeks. that vaccine is expected to get the green light from medical regulators there in the coming days back in this country, dr. anthony fauci is warning that travel amid the christmas holiday could push the u.s. to a critical point fauci making those comments yesterday, despite travel warnings, nearly 10 million americans flew over the past ten days which could lead to a new surge in cases at least that's the fear as of yesterday, the number of covid-19 cases in the u.s. topped 19 million, as the death toll from the disease surpassed 333,000. even in the midst o

we know of him because of his involvement in alibaba, and of course ant group, which had to scrap their-- their ipo. there are fears of a tech crackdown, antitrust regulation, a breakup that is really pulling down all of the big tech companies in china. you have alibaba, tencent, jd.com. antitrust is not summing you want to mess with in china. let's bring in bloomberg's sonali bostick, who has been following -- sonali basak, who's been following this story for us. give us an idea of how worried some of these companies and investors are about a big tech crackdown. sonali: first of all, this is a big deal for investment in big chinese technology firms, big chinese financial technology firms, which are among the world's most powerful. they have drawn investment from investors around the world. there's that issue, but there's also an issue for the big u.s. banks that have been expanding in china, working on the ipo's of these companies and all of the companies associated with them. some of these banks already have revenue tied to business booming in the country. when i -- [no audio] kevin:

and hong kong shares of alibaba an official asked over the weekend, ant group to fix in wealth managementas well as overhaul credit rating business and is one-third owned by alibaba and shareholder is jack ma. it had its $37 billion ipo suspended after ma criticized regulations in china and said it will set up a quote rectification working group, and follow all rules aliba alibaba announced it was revivaling stock buy back plans. u.s. retail sales grew 3% from about mid october to christmas eve, so roughly the holiday shopping season according to a new spending report from mastercard ecommerce sales jumped 49% as customers stayed home because of the pandemic. >>> make sure to keep an eye on the price of bitcoin today currently trading 26787, just under $27,000 but topped $28,000 over the weekend what else to do on a long holiday weekend, melissa, in the pandemic >> joe, are you still, you know, crypto twitter's hero? >> demi god. >> that's a perfect word i was looking for that word. >> i don't participate. >> but you speak of the virtues, often, of crypto. >> i don't speak of them often,

of what else we are watching, a focus on what is happening with the markets, alibaba shares under pressure in china. ant grouphorities

alibaba shares sinking as chinese authorities tell ant group to shrink its business model. is the whole chinese tech sector now at risk? this is bloomberg surveillance. i am in for francine lacqua and tom keene, both of whom have a day off. let's check the headlines you need to know about. here is "first word news," with ritika gupta. ritika: president trump signed the 900. -- nine hundred billion dollar relief bill passed by congress. the president is still calling for a vote to increase the $600 check to $2000. that nonbinding request is likely to pass. the u.k. and the eu have finally signed a post-brexit trade deal. prime minister boris johnson admits it does not go as far as he wanted on financial services. there is still little clarity on so-called equivalence that allows non-eu firms to sell services into the eu single market. the internet empire of billionaire jack ma has faced increase pressure from china, telling ant group to go back to its roots as a provider of payment services. -- creating timeline to overhaul. global news, 24 hours a day, on air and on quickta

separate to that, alibaba and jack ma's ant group has been sum m moned has beto come in and talk this he was highly critical of the beijing authorities. in that speech he suggested that regulations in china should promote not kill innovation. he said that global banking regulators suggesting that the people who are sitting there in the room are part of an old man's club and he said that chinese finance can't have systemic risk since essentially china has no system. so jack ma is known to be flamboyant, very outspoken, critical of the government over years, however, this speech was seen as especially egregious because he has made so much money here and also he was just about to become even wealthier with ant's ipo all the while authorities here have been concerned about his consumer loan business and it being too risky. in fact, posing too many threats to the financial system here so at this point investors and chinese tech companies have been speaking to me about what the implications could be. there is a lot of -- there's kind of a wide split there are folks who think this could be a

theaba, juliette saly said ant group has been told to get back into its link. this is alibaba. down a .4%. the message from the central into your- get back own lane and stick to payments. ant group has wealth management, billione, a half a customers. not a gazillion. the fallout is all around the tech space. a gazillion. there you go. that is why people tune in to daybreak europe. arehe united kingdom, they running a coordinated vaccination campaign. months to vaccine enough people to have an impact on the spread of the disease that the european commission president says it will be a gradual process and caution is still needed. annmarie: this comes as the united kingdom is poised to approve the covid-19 vaccine reduced by astrazeneca and the university of oxford. the shot could be cleared for use early this week. it is more easily transferred and does not require refrigeration. martin malone is still with us from alphabook. what do you make of the vaccine story in europe? itspe is vaccinating citizens and the u.k. is out in front. does this bode for a quicker recovery for europe

this in, is the chinese government going to want to get some concessions from alibaba, particularly as it relates to ant groupabsolutely is it going to create some volatility in the stock the next couple of quarters absolutely does that offer you a buying opportunity to buy what is essentially the backbone of e-commerce in china, the largest consumer market in the world for the next several years absolutely once again. and so i understand the risk here however, i look at this as the chinese government in their five-year plan has talked about making sure that the innovation economy is rooted in china alibaba represents that. as far as it relates to cloud services and so i jufst don't see this as being a protracted issue i think there will be near-term stress on the stocks but if i look at the way we see amazon grow, i liken that to perhaps even more reach into the chinese consumer economy and so i would be buying it on dips for the long term. >> yeah. that was good. i mean weiss confuses me about a lot of things, so this one just put it on the list put it somewhere on the list pete was unusual activity next i

. >>> it essentially forces merchants on the sites to work solie with alibaba as opposed to the competitors. separately, it groupby jack ma was also summoned in by other regulators for a discussion about fair competition as well as consumer protection so these moves come after regulators were present. and in that speech, he suggested that chinese regulations kill innovation and that the regulators are part of an old man's club and finally that, chinese finance can't have systemic risks since essentially there is no system here he is going to be very outspoken. but these remarks are especially egregious. he won a lot of money over the years. it came right before he was going to become even wealthy we are theant ipo then you throw on top of that authorities here were already concerned about part of the business where it loans out money and the state banks take on a lot of leverage so investors at this point are not sure how big the impact is going to be. but there's been a lot of concern that some of the bigger players such as alibaba are going to face fines, changes to the business model in an extreme example of

, aliba ba has centres but in response to this report, alibaba has said that it will not allow its technology for identifying specific ethnic groupsy have eliminated any ethnic tag on their product offering but this follows a similar allegation against another chinese tech giant huawei which apparently tested facial recognition softwa re tested facial recognition software which could not only identified but also send automated uyghurs alarms to government authorities. such systems a re government authorities. such systems are said to reflect the country's technological advancement and keep people safe but to protect this as a way to identify unfavourable members of society and squash public dissent. we all know the pandemic has seen us do more business online, from internet shopping to meetings via zoom. but according to the boss of paypal, it's accelerated the shift to a digital economy by three to five years. daniel schulman has told the bbc his own business, digital payments, is exploding, and the use of cash is falling dramatically. clearly, the pandemic has an impact on almost every industry. we have leapfrogged 3- industry.

alibaba is owned and was founded by the billionaire who also founded a company called ant group.ital payment companies. it was going to go from being a private company to a public company. jack ma didn't take kindly to that and openly criticised the regulators are know what is happening is the chinese authorities who have great oversight and control into vast swathes of the economy of business sectors and now looking at digital businesses and sectors, this is a fairly new part of the economy for china at the end of the day, it has boomed as more and more chinese citizens get online so 110w chinese citizens get online so now they are looking very intently at these businesses. it doesn't look likely that ant group will be able to refloat that because the government is changing the rules and tightening up these restrictions so an awful lot of oversight going into these digital platforms at the moment. stay with us on bbc news. still to come: it's the christmas card anyone who is anyone will claim landed through the letterbox, but who sent it? we will tell you in a moment. music and

selling a ton of its assets, winding down stakes and companies like alibaba it was supposed to raise a ton of money through financial group. it has raised a significant amount of money this year to the tune of, i believe, some $80 billion. that would help. that's why this reported strategy would be different. he would quietly buy back shares so he had something like 66% to squeeze out the other investors. it is a little bit of a longshot like i said, it's masa son, he's been known to do some unusual things on nearly every earnings call, i listened to the quarterly call, and he says the company is undervalued. so, you know, it sounds like he's frustrated he doesn't think the public markets are valuing the company where he thinks it should be and he may take that into his own hands >> like you said, he loves the moon shot. this would certainly be one. the share is up about 5.5% today. deirdre, thank you >>> tyler, over to you >> let's go back to david for more thoughts there. we've repaired our connection to him. you said a lot of provocative things, even though i didn't get a question in your ear you said this is the wewor

alibaba was founded by the billionaire jack ma, and always two also founded a firm called and group whichpaying thing in china. it was going to be floated with an ipo, the largest ever seen but had consulted by regulators and hold that. jack ma criticise that move and obviously that didn't go to well with the authorities. they have great control over the economy and sectors and businesses within it but of course, digital retailers and e—commerce firms are booming and a relatively new in the grand scheme of things. and so they have managed to operate for a good while now without the same control that other sectors have scene. it seems as though now, they getting bigger and bigger and more and though now, they getting bigger and biggerand more and more chinese citizens are going online and accessing them, that the chinese government is putting its focus onto these firms. it's interesting to see they are now already overhauling the legislation that governs them. it's also interesting to note that we haven't heard much of jack ma since november. very interesting, want to watch. thank you. thr

alibaba shares. i think what we will see is a very concrete plan from ant group about what they're going to do to rectify mistakes. right now the likelihood of a breakup is still slim. it is still possible, but it is slim. i think there are some actual this squashes innovation, that alibaba is too large, that tencent is too large and that it is unfair to smaller firms. alix: let's take that angle. -- will we see more startups because of this or different types of founders because of this? isaac: yes and no. the biggest lesson for founders is you can get to a certain degree but do not do the steve me, charismatic, look at i'm drawing attention because of the work i am doing. that path is growing dangerous for chinese founders. i think there is a lot of room for amazing innovation in the chinese tech space. i don't think this is going to have the negative impact on that. i think it might be positive. i think this is a lesson for the really large companies with charismatic founders. alix: any indication that jack ma is going to tone it down? isaac: he has been toning it down. i don't know if he has said any

alibaba share up to 6%. first there was a report that the group was considering a full company of its lending business which a bank nothing that would significantly knock down its valuation second, china may be looking to shrink jack ma's empire and taking larger stakes than his businesse businesses beijing launched an antyalibaba. plus, some regulatory fears may beover blown the chinese government is making an example of jack ma who criticized the regime in the past that may have been a step too far even for him to so-called "people's billionaire. he created the most biggest company. keep in mind that alibaba has over 100,000 worldwide and ma's business, their staple of everyday chinese life. if you think beijing has taught jack ma a lesson and save enough face over there, it could be a buying opportunity if the crack down and more scrutiny pressure, china's other tech giants, the damage just may be starting. >> mike, what do you make of the stock here >> yeah, it would not be trading at these multiples if it was not for those potential concerns we are taking a look for a company that's trading 18 or 19 ti

which is essentially forcing merchants on the sites to only work with alibaba, as opposed to any of its competitors separately, aunt groupn summoned for a conversation with regulators about fair competition and consumer protection so all of this comes after jack ma made a fiery speech back in october where he was highly critical of the regulators, and the way that they regulate f fintac, it also comes after president xi jinping is making it quite clear he wants to reign in private industry ostensibly to mitigate risk a lot of investors are talking about it here, as well as people in the chinese tech community. they're split as to exactly what the impact is going to be and how big it will be there are folks who think this is going to be a slap on the wrist, fines, warnings, perhaps tweaks to business models or it could potentially mean the end in an extreme scenario to the vie structure, which is kind of a gray area structure that allows foreign investors to buy into these chinese tech firms. there is one counter argument, though, scott, as to how far beijing would go, and that is that china has also made clear that a pri

alibaba, the stock is actually higher right now here, but the hong kong shares tumbled 8% yesterday because you the chinese regulators that are criticizing ant group'siness practices and concern for jack ma and treasury department that put new guidelines to president trump's november order which was blocking investors in the country from buying securities of business businesses with the military and we also have an administration coming. jon: when it comes to chinese stocks, i would say thread carefully. i don't think there's any sign that we are going back to warmer relations with china even if a biden administration, you know, kind of comes into power next year. i think you have to treat any kind of chinese investment as speculative investment at this point in time. i do think that it's worth doing your homework on investing broadly international, but because of the frictions between the u.s. and china and because of the way the chinese government tends to strong arm its own market, you're kind of rolling the dice when you put your money in chinese stocks right now. cheryl: of course -- francis, i have ten seconds, for 2021, do you have a general

alibaba has fought back, turning it into a portal remote paying from to online nannies. revenueiggest maker is dragging plans to create a new consumer finance company. another pillar of the group's5% of revenue. beyond china, the group's building presence in the rest of asia to serve chinese customers traveling overseas. undere, as dominance came scrutiny by regulators, the company faces clamp downs on its consumer lending business and needs to apply for more licenses and increase its capital buffer, so ant faces a slim chance of going public for 2022. alibaba is also being punished by china's anti-monopoly watchdog, adding to the tough year for the billionaire. haslinda: a look at jack ma's struggle. us from hongns kong. jack ma is usually flamboyant. and is the latest with ma ant. >> what the turn of events. based on what our sources tell us, the expected changes in diminishy crackdown the chances that ant is going to have an ipo in 2022. ma has been advised not to stay in china, reportedly. there is a specialized task force that includes the ceo and chairman themselves for ant and they are trying to update regulators on how they are trying to comply with regulatory hurdles on

violations and group saying ant will fully implement requirements raised at that meeting to bring in to line the operation and development or financial-related businesses by the way, alibaba also at least in the crosshairs, as well, in terms of its platform and whether or not it diminishes competition in some way. all of this, sara, amounting to a real blow being struck against mr. ma who, of course, we talked about a lot and i had the opportunity to interview a number of times through the years. it doesn't pay to be outspoken in china if you're a ceo many others have learned that lesson and keep a very low profile for this very reason >> and just like that, the vintage video of faber and ma. one question i'm wondering as it relates to investors in some of these hot chinese internet stocks is this an alibaba and jack ma specific thing with the regulators or extend broadly to the entire tech sector and china. should investors be nervous if we'll see this huge crackdown which could ultimately squash, you know, a lot of innovation and a lot of these hot companies on these stocks that we've seen. it's unclear what their purpose is >> exactly the key question that is certainly

into complaints that alibaba had allegedly forced merchants on its sites to work solely with the ecommerce giant to the exclusion of all other competitors. separate to that, ant group is -- was summoned by other authorities for a conversation in the coming days about fair competition and consumer protection this all comes after a very fiery speech that jack ma made in october where chinese regulators were present. at that speech, he said and suggested that the regulators were part of an old man's club and that china -- chinese finance didn't have any systemic risk because there was no system jack ma is known to be very outspoken, to speak his mind about the government these comments were seen as especially egregious they were coming when the billionaire was about to get wealthier with the ant ipo on top of that, president xi has been making moves to exert more control over private industry. now, the talk within the chinese tech community is kind of split. people are wondering what this is going to mean if it's only going to be specific to alibaba or spread to larger companies generally. for the most part, people are saying they think there will be penalties for lar

alibaba is also being punished by china's antimonopoly watchdog for violations. it's been a tough year for the billionaire. let's get more on the future of jack ma and ant group.he line from hong kong. what is the latest with jack ma and ant? jack ma has gone rather quiet, hasn't he? lulu: the expected changes and crackdowns have narrowed the providing its ipo according to our sources and we have been told that jack ma has been advised by the government but not required by the government to not leave the country. it does mean that while the billionaire is in trouble or face a tremendous challenge, he is not completely out. also, we have learned that the government has set up a joint task force to oversee ant, and on the board, it includes the financial stability committee and also the central bank. they are talking with a special task force that has been set up by ant, also wanted -- almost on a daily basis, and ant's chairman and ceo are overseeing the task force personally. we have also been told by sources that ant has not been given specific guidance on what to actually overhaul. according to the regulations that have been announced. the draft proposals th

nasdaq up 4/10 of 1% noontime, ant group is reportedly planning to fold its financial operations into a holding company that could be regulated more like a bank alibaba about a third of ant financial, and this of course comes as china increases regulatory pressure on that company and its founder, jack ma joining us to break down the implications, derek scissors, resident scholar at aei, and deidra bosa. if you could set it up a little bit, is there a sense this is a regulatory fix that's going to appease the chinese authorities, and investors can look past it or are we going to be dealing with this for a while? >> over the weekend, the chinese regulator said that ant group should return to its roots in payment. that spooked investors its credit business has grown larger than its payment business which is where it started. its credit is really the lucrative part that makes it this fin tech giant. the fact that there may be a holding company may sort of allay some of those fears, however, it's essentially sort of a break up, right, you're splitting this off, and it's going to be apparently reportedly regulated like a bank, so it's not going to be worth