and ali baba as the group with more money. not to belabor this analogy, but they have been playing moneyball against alibaba and they have been using their position on the mobile device and through messaging and communications to start to win market share in the commerce sector from ali baba. wouldonder how jack ma feel about your comparison. you wrote in your story today that he will be celebrating his 50th birthday on the road during his roadshow. >> absolutely, what a way to celebrate his birthday, right? i hope -- i think he's looking for a gift of a pledge from investors as opposed to a tangible gift. celebrated will be his birthday most likely here in new york. that is the date they will most likely have individual meetings with investors. a big lunch in new york that monday, and then back to boston and his birthday. >> a quick break and then i want situationout this striking a new deal. later, one of the world's most technologically advanced cars, but to buy one would break the bank for most. we sit down with the ceo of

baba.t stands for aly baba, often called the amazon of china with a little bit of google mixed in. you can't buy or sell it yet, but this giant chinese tech company is expected to launch a huge public stock offering in a few weeks, and the shares will trade on the new york stock exchange. investors around the world are waiting eagerly for this ipo. and today they got some fresh financial information about this tech success story. in a filing with the securities and exchange commission, aly baba revealed that its profits nearly tripled and its revenue surged last quarter. also, the company said it's investing in more businesses with new revenue streams. taylor tausche has more on what's fueling that growth. >> reporter: aly baba's earnings engine is revving. the company's latest filing showing revenues growing to $2.5 billion in the quarter ending june 30th. revenues from mobile shopping doubling since march. investors took the numbers with cautious optimism, noting while profits nearly trip

jim, good to see you. >> why would they have to sell in order to make room for ali baba? >> ali baba is a big cap name in the technology space and a retail and consumer space so growth managers with a global pan date, many hedge funds managers will want to free up some cash to participate in this deal. it's just a phenomenal company that's really got an entrenched position and, you know, a really mature tier 1 holding for a lot of growth managers. >> right. >> so my belief is that you are going to see other names kind of being arifiesed that create room in a portfolio. >> amazon would be the most likely candidate. you sold eight month ago. it didn't have anything to do with ali baba? have you sold anything based on this thesis? >> of course, you only have to sell a couple days before to free up the cash. because of what they call a t-plus 3 settlement. you know, amazon's situation was one where the street had given jeff besos a pass for a number of quarters. and he missed a football of quarters. that works until it doesn't. so i think the people are kind of concerned abou

ali baba is about 80% of online shopping in china.uch of a threat do you think amazon will be? >> almost not at all in the beginning for sure. it's sort of like ali baba coming to the united states, except it's china, it's unclear how they will operate with the free trade zone with a lot of hype around it. doing business in china is a little different than anywhere in the world. so right now ali baba is the dominant player there. they're the amazon of chosen, essentially. they have jd.com, which is another company and a million more behind it. so amazon is not amazon there it's kind of pygmy if you think about it 12k3w4r how much will help amazon? china is the big market. it's where the burdening middle class is happening this is a company coming into its own in terms of digital commerce, everything from car sharing, every single thing that's happening here is happening there. smartphones, apple is doing incredibly well there. you kind of have to be in the chinese market. so the question is, can am sob, will that brand name translate

look who ali baba is modeling themselves after, softbank.hen soft bank made all the investments in the united states in the late 1990's,, yahoo!, e*trade, they were the gateway to japan and asia. so that is how yahoo! japan got so big. so i do think, i am not sure that it alibaba were to make investment in a media company, which i doubt they would do, that those companies would have a chance to be successful. there are things that china will not allow to happen. but i am sure the part of all aba'saw --aalibala argument is that we have the connections and we can get you into asia. >> is a crazy to think that alibaba could be in a position after the ipo to just buy yahoo!? position toa buy it now. i would think it is more likely to be softbank, because softbank has more of a vested interest to get a bigger ownership in yahoo! buyinghan alibaba has in what is left of its shares. that ship has sailed, but it is a possibility. after ali baba goes public, the story will be more interesting. >> as a ceo at chegg, you did an acquisition of an online

did he start ali baba?uch has he made over the course of the history? this has been a short period of time. >> incredible, 1999. the size and scope of ali baba today is incredible. they are just over sort of 15 years. >> how does he compare with some of his peers? richestina, the three people are all tech billionaires. jack ma is number one. in china, it is all competitive at the top among the tech fortunes. at $21 billion, he is ahead of people like steve ballmer. >> some fairly aggressive numbers. how does this kind of wealth work in china? weird question, but in the united states, this is a sort of economic hierarchy. how do these guys fit into china? parthey perceived as being of the system or are they now above? do they give back money, is there a philanthropic element? this is a huge amount of cash. i like to think they are all pretty widely celebrated in that country. it all ties into the growth of china as the world's second-biggest economy. is a sector they are very proud of. >> we will leave it th

meanwhile, the buzz about ali baba's upcoming ipo is getting even hotter.hird-quarter profit nearly tripled. leslie picker covered ipos and is on the phone. >> i think they're really good numbers. if you look at the numbers as the company is transitioning from the mobile take rate, we saw it improve to 1.49% this quarter. that is a tremendous improvement on a quarter on quarter basis. >> leslie, were these numbers expected? every time we see new numbers from ali baba, they are quite impressive. >> they are. fourth-quarter numbers were a little bit of a disappointment. if you look at yahoos shares, they are trending up only slightly. it would appear that it is kind of a broader for any kind of news coming out of ali baba, because they are a significant shareholder. shares are not moving to lehigh to the upside, which indicates it's not as much of a surprise. but as you mentioned, it's very impressive. >> what is your take? >> there are some a great business is growing so fast. there is over 700 pages to this ipo. ipo and it the last couple of hours. profits

and that will hurt ali baba if too much are up for too long. >> simply alli baba's interests as well.> and having that mega transaction volume number was also in their interests. getting that number to the point it was at was huge for them. and it will be interesting to see whether this has a really negative effect on how much they do in shear transaction volume with a lot of these severals now off the market. >> very big s-1. next up, some news that your former company investing $50 million into buzz feed. valuing the company at $850 million. buzz feed says it will use the money to make several changes including new content sessions, motion pictures. chris dixon will join buzz feed's board. a lot of people wonder why they need the money. or about they need it. >> i read about this in the paper just like you. chris diks on wxon wasse an ear investor. and i couldn't be more happy for the company. more capital allows you to accelerate the growth. >> the statistic that i was amazed by in this article was the fact that 75% of buzz feed's kept is delivered by social media. we see the artic

offering like ali baba goes beyond kind of the normal suspects to acquire a tech ipo.s really become every money manager who buys equities looking at something like alli ba baba, not just specialty managers who focus on the hot, young, tech companies. alli baba's bigger, visible. i don't think it's the be all and end all for the tech ipo sector. i don't think it will suck all of the oxygen out of it. i hope it comes in a successful and creates a nice path for others, but i don't think it's something that stands in their way either. >> sandy, great to have you on the program. thanks for making time for us today. >> sandy miller. >> getting a good soaking for a great cause. biogen set to take the ice bucket challenge to raise awareness for a.l.s., here live on cnbc as well. then, the trade-off segment, i'm not sure i want to see, off the desk and into my real life. see what i do when i'm not being the judge. >>> and a bump in the road for tesla. consumer reports says model s is more than its share of problems but what does it mean for the stock in breaking it down with p

look who ali baba is modeling themselves after, softbank. when they made all of those investments in the u.s. many years ago in the late 1990's, yahoo!, e*trade, they were the gateway to japan and asia. that is how yahoo! japan got so big. , if alibaba were to make an investment in a media company, which i doubt they would do, that those companies could be successful in china. there are some things that china will not allow to happen. i ensure sure part of their argument with people is we have the connections and distribution, we can ring you into asia. i'm certain that is a large part of the dialogue going on. >> is it crazy to think that alibaba could be in a position, after its ipo, to buy yahoo!? >> it is in that position now. i believe it's -- if it is going to be a transaction, it is more likely to be softbank because they have more of an interest in owning yahoo! to get back a greater percentage of ownership babahoo! japan, van ali does in buying the rest of the shares. i think that ship has sailed. public, theba goes story will be mo

i'm bullish on ali baba. together,ing these they make sense. they are about mobile, commerce, or engaging users. >> how foolish are you? this is on track to be potentially the biggest ipo in history. not the largest tech ipo, the largest ipo in history. after wildly nervous? i'm that. this is a dangerous ipo in many ways. it's unprecedented in terms of size and scope, it's unusual structure. there is so many things. and the new cv small red flags beginning to accumulate. i applaud the innovation, but as an investment vehicle, i'm whatever comes after wildly nervous. >> from bullish to wildly nervous, we have both sides. stick around, we have more after this break. smartphonee cuts subsidies. could this spell trouble for apple and samsung, and who stands to win? we discussed, next. ♪ >> welcome back to "bloomberg west," i'm emily chang. impactbsidy cut would higher-end phones like samsung's galaxy line. it comes back to the chinese government telling three carriers to lower marketing expenses. who stands to win? yu, andth me, crid paul. how bad

nedeen baba, al jazeera. >> you can keep updated at aljazeera.com. walking down the street in chicago may now have a lot more meaning as city officials plan to attach dozens of sensors gathering data from everything from pedestrian movement to air pollution. online data, what happens to it after we die and who has rights to it? and later, struggling mom and pop shops and unrealized retail concepts, as locals turn

in baba's ipo is expected september. if you want to sell shanghai shares through hong kong's new change link, you will have to set your alarm. the hong kong exchange says shares need to be transferred before 7:30 a.m. allow two exchanges to settle trades per mainland rules. treasury wine is trading in sydney and it looks like this. it is up 2.5% after it received another bid. the author comes from an unnamed private equity group. analysts say there may now be a bidding war. for more on that story, let's get to paul allen in sydney. with do we know about this rival bid? the bidder wanted to remain anonymous but the media is pretty much anonymous -- the much adamant. ppg according the matter. there is no certainty that it will result in an actual offer and the proposal is conditional on a number of other matters as well. it is exactly the same amount that kk i and run capital offered early last week. since then, the price has jumped. at fiveave it here $25, which is higher than both bids on the table. the market seems to t

tom, you are going to buy the ali baba ipo. >> if i were offered shares in the ali baba idea which ili baba is an enormous company, 24,000 employees. it did more revenue on the chinese version of black friday by itself that we actually did in the united states of america so that the scale of this is a huge. concerned that the books aren't accurate, this idea is going to be hot if you can get some. i would seriously recommend taking a look at it. stuart: thanks, that is it for the real halftime report. we appreciate you being with us. the billion dollar car auction in california record sale of a red ferrari, that record might be broken tonight. first this. i bring you had their mills's ex husband, a final act of san francisco's candlestick park. (trader vo) i search. i research. i dig. and dig some more. because, for me, the challenge of the search... is almost as exciting as the thrill of the find. (announcer) at scottrade, we share your passion for trading. that's why we rebuilt scottrade elite from the ground up - including a proprietary momentum indicator that makes researching se

baba. it stands for aly baba, of

i started by acting her -- asking her what impact it could have on ali baba. >> all of the al wish andetrics are still fluid. the eta will certainly cover alibaba. my sources tell me that if a company they are looking to compare it to. when it back out it will be compared -- will be compared. the bigger it the valuation cometh the bigger the offering size usually. >> how much of a challenge is this to alibaba? where do they ? obviously most e-commerce. >> it is a tremendous challenge for alibaba. there was overlap .oday and more strategic alibaba has owned e-commerce in china now for basically since the advent of e-commerce in china. --t $.10 has been able to do able to do isen encroach on alibaba's turf. i would say it is more about defense rather than offense or alibaba. >> what are investors saying about that? are they worried or it do they feel like it stands on its own? >> i think the focus is users, back to the old, how do you value a big internet conglomerate? it is all about users and how many people are visiting. now if they do appear to be taking users away, that could impact

liz: i am thinking aleali baba at that points. >> i would think it would help them at end of the day with more money anything to china stocks, i have been very hesitant about anything china, because, i won't trust them as far as i can throw them, they don't audit anything this at least has weight. >> they gear more market share. but i am onboard with that, they sort of poiseed to take away market share. that is one thing you look at company with, got to love the the name, davi dang-dang. liz: i am thinking regulators in china? >> who knows no one is watching. >> i agree with trace, ali babatunsin olukunle will give i -- ali baba will come out and help them. liz: and kudos on a tech compa company, since he recommended strata sis the stock is up 8%, charles was also calling for company stock to hit 116 a share, it did that today, matt this company raised full year guidance but what? $100 million overall. >> it is a company that you have to be able to buckle yourselves in. and look for a roller coaster ride, this is 3-d printing, this is one of all names out that i think the make it, th

one final question on alli baba.chinese to me it is about to issue their ipo, i think sometime in september, this fall. and it is a 95% chinese internet sales company, sort of like amazon for the chinese. is there a danger of them placing an ipo on u.s. market or are we letting a fox in the henhouse? >> is no question about that. and this is what obama saying let's relinquish it to foreign countries like china. it's ludicrous for it if we don't wake up and realize how serious the risk is come up before we know what we will not be hearing more about it. david: we would actually be allowing the chinese, and a lot of people working for ali baba are chinese government officials who have a strategic interest of getting inside of the company. >> there's no question about that. why would you want to show the other team your playbook before game? david: thank you, paul. you've heard about google's ipo anniversary. but i bet you haven't heard about this. ten years after going public, their next target could be your 10-year-ol

. >>> ali baba is in chats to buy a steak in snap shat. they are worth $10 billion.t is unknown how much they want to put into the app. previous offer from facebook was rejected. yahoo owns 23% of oli bobby. -- ali baba. >>> dozens of dogs in hopes of finding a new home. they are taking 30 dogs to board a special plane. they will be flown to washington north of portland. they are calling it the airlift and they are getting help from an organization called dog is my co-pilot that is donating the flight. the shelter says there is a abundance of small dogs and that is making it difficult to get them adopted. there is a big demand in vancouver and the hope is they will find new homes after they land. >>> a string of wildfires means that it will have to keep crews on the job longer. crews are attacking 8 fires that started by lightning over the last four days. it ordered firefighters to stay on the scene to get the fires under control. they are working 7 major wildfires in northern california and in the sierra. >>> in the bay area people looking for relief will have to wa

that is the advantage the marketplace like ali baba has. for alive a reasonably baba, yahoo!s it suggesting the numbers are really not that much better than what we heard from alibaba before and what people anticipate when the company goes public? >> thereof people a lot smarter than me going to this and finding things. i can't believe anyone can make a real informed trading decision based on what their read in the last 1.5 hours. it is very complicated. the company is doing boatloads of acquisition and the business is changing quite a bit as a result. one thing that jumped out, as much as their growing internationally in making acquisitions all over the world to grow their business and posit the idea to the ipo that this is more than just a chinese marketplace, the chinese business is growing so fast the percentage of revenues -- the international business is less than it was a year or so ago. that is a function not of the slowdown in growth financially, but the massive growth in china. >> it is important to point out for investors who might be looking at these headlines him

let's get back to the ali baba. the countdown to the highly anticipated ipo looks likely to begin in september when the e-commerce giant starts its road show in asia. for more, leslie pickler has been following this from the very beginning. executives are proposing to start in asia. is that unusual? >> it is not unusual, but they are looking to price on a monday to trade on a tuesday. apically we see starting on tuesday. they do things differently. the reason this date is significant -- remember eight/eight was good luck? 16 is eight plus eight. they also have some significant days in chinese history. the other days are not seen as lucky. this was the best option. >> so many things they have to consider. 8,y were going to do august but then they decided people were out of town. it is the summertime, maybe it is not the best time to bring in ipo of this size to the market. >> they were waiting for different rounds of comments. they decided to push it off until september. yesterday we learned they renegotiated their c

ali baba was not so profitable last quarter.the japanese telecoms carrier falling 60%. the company took a charge on the investment. softbank saw its slowest subscriber growth. they were on their way down at the start, but we are moving to the upside alongside the rest of the asian-pacific area if you want to sell shanghai shares through hong kong's new exchange, you will need to set your alarm. to be x says shares need transferred before 7:30 a.m.. the boss says that is all to allow the exchanges to settle trains -- trades for mainland rules. they'll start beginning operating on october 13. treasury winds up today, a may ensure that another suitor has emerged. to paul allen in sydney. we were doing about this rival , then the tables? >> well bidders want to remain anonymous. ,he media has decided that tpg quoting my favorite source, those familiar with the matter. the mistry firm, let's call it that, has said there is no certainty that it will result in an offer. its proposal is conditional on a number of matters. they are offer

. >>> plus luxury brand fight ali baba. it's a big hour of pourer. sue is at the new york stock exchange. >> hi, ty. it sure is an hour of power. we're focusing specifically on the transports right now. the transports right now up 104 points on the trading section. jetblue, and kansas city southern some of the big pusher. as for the dow, up 52 points, the nasdaq is up about -- just under 1%. is the s&p 500 has -- seema is at the knead dab. we're going to star with bob pisani, you know the transports is one of my favorite indicator. if you're a dow theory follower, that bodes well for the dow jones industrial average. >> and it's a good -- let me break it down more. airlines, for example, lower capacity, higher bookings and lower olympic prices. they are very healthy boosts. railroads, we are seeing an increase in business for them. more autos. moving autos around the country, coal business is still pretty good. there you see the rail stocks moving well. finally i want to know the truckers here, they are benefiting also from favorable pricing. trucklo

melissa: i am melissa frances, ali baba raising some eyebrows ahead of its much-anticipated ipo.hat is after possible accounting problems were revealed at ali baba picture which is one of the firms it recently acquired and rename during a shopping spree. the unit is said to have underestimated its losses. paypal is said to be in talks to take bitcoin as a payment. that means customers may soon be able to use the crypto currency to pay for everything to rides with uber which use the paypal system. the deal could give bitcoin legitimacy it has been looking for. sprint is about to reveal disruptive prices. new ceo says the best payment plans will give competitors like t mobile a run for their money. that is the latest from the fox business network giving you the power to prosper. melissa: fast food companies have been served, they're passing a bill that makes it more difficult for major food and retail corporations to terminate the contract of their franchisees'. hear from mass fund.com is a fox news contributor, jonathan, i will let you go first because you are new to the game. wha

we have a relationship with ali baba. we are excited on kabam, our new social mobile game for "hunger games," coming out before the movies. again the world is smaller. that's a good thing for us. >> content companies are getting in battles with amazon. we soon disney as the latest example. does amazon have too much power here when it comes to ecommerce? >> i feel like i'm cheating on melissa cheating on you, sarah. >> we won't tell. >> she'd like to know you referred to as cheating on her. >> we feel that look, it's nice to have more than one player. its nice to have through the electronic sale comcast is picking up good market share. so you always want to have the content provider. again, we're like the benevolent arms dealers, we'll sell to anybody. sometimes exclusively in many cases non-exclusively. we're noting a nostic to platform and technology. >> michael burns, good to see you, we don't want to tell the vice chairman of lion'sgate. who has the trade? >> it doesn't get you excited. the story does. "divergence," wh

. >> e-commerce in china has been dominated by domestic player aly baba. amazon's expansion comes as international retailers are trying to bring in international consumers. china enjoyones in more relaxed import/export regulations than the rest of the country. shanghai is one of china's boldest reforms in decades and is expected to receive a boost with amazon's arrival. amazon's expansion into the area will promote innovation in the free-trade zone operations. chinazon's presence in has not been without problems. in march the company was forced to shut a third-party online store after state media reported fake cosmetics were sold. the expansion comes at a time when foreign tech companies like microsoft and qualcomm have increased scrutiny in china. >> that is it for the business news. i will be back in about an hour. >> think you very much for that, william. time for a check on the top trends online, including calls for a media blackout of the video of the murder of james foley. ♪ >> hello and welcome to the web news. these are the stories making online he

baba. it stands

nedeen baba, al jazeera. >> you can keep updated at aljazeera.com. walking down the street in chicago may now have a lot more meaning as city officials plan to attach dozens of sensors gathering data from everything from pedestrian movement to air pollution. online data, what happens to it after we die and who has rights to it? and later, struggling mom and pop shops and unrealized retail concepts, as locals turn to crowd funded real estate investments. ♪ ♪ >> digital producers and co-host wajahat ali is here. it's always an interesting question, waj, information is knowledge how much is too much and how much is it getting into our personal business? >> exactly. i play video games for research. >> you tell your wife? >> so i tell my wife and all my co-workers. there's a game called watchdog out. chicago much all cities which is a hyper-connected city connects data on all its citizens, you have to hack in to do good against evil doers. we asked our community, is all this good? daniel says, the use of metadata only helps communities and people. but the

shareholders, which is to lobby for either ali baba or softbank to buy this company, because one of thegest discounts embedded in yahoo!'s stock price today is an assumption by wall street that when yahoo! sells these stakes in these companies, these asian companies, they're going to have to pay a huge tax bill. there would be tremendous tax savings if one of those two companies bought yahoo and returned a lot of the cash back to shareholders. >> eric, i will say, all your points are very valid, but if you look at the stock price, i mean, it's all about results. i mean, you have to look at the bottom line. that's the report card for a ceo. and you look at the stock chart going back two years, we just showed it's up 200% in the time marissa mayer's been ceo of this company, so what's the complaint here? >> well, to that, i say yahoo's management and board really needs to send a thank-you bouquet to alibaba. two years ago it was valued at a $20 billion company. yahoo! has a 23% stake in a company that most people think will be worth $300 billion. when you subtract out the value of the ali

and "ali baba" means "you thief!" >> that seems to be enough to get by. the factory is modeled on the company's headquarters in china. the banners on display are designed to motivate workers to maximize production. next i think it is necessary. sometimes it can have a look and keep it in their mind. >> the company says its factory provides developmental aid to ethiopia. after all, it has brought along only 120 chinese workers, while creating 3500 jobs for locals. >> one of them is 22-year-old eden. she's a trained shoemaker. the craft has a long tradition in ethiopia. but work is scarce. the unemployment rate here is at least 40%. she lives in a tiny dwelling near the factory. it's her first time living alone. the room is just five square meters in size and has no windows. she can't afford anything better. >> if i work overtime, i earn about $45 a month. otherwise i make $30. >> eden works ten hours a day, six days a week. even in ethiopia, $45 is barely enough to make ends meet. the rent alone costs $15. that leaves $1 a day to live on. meat is an unaffo

we call that internally waiting for ali baba, kings of k street. whether you call it a tablet or fab let, tablet takeover is doing well. one of the most viral ones is seven deadly sins. it is literally about cigarettes, lust, the wrest ling companies shall the gun companies. what is nice you can think of them, not etfs, we think they are better. >> i will ask but that in a minute. >> we allow to you take one of the motifs, i am not a bank person, make different sin, you can adjust the weighting. you can tate one of these motifs and make them your very own. personalization, tail searing a powerful force, people customize what they know. >> you touched on etfs, let's get to that. an etf is a basket of stocks. how is this different than an etf? you just renamed them motif? >> a lot different u buy an etf it is a fund, a group basket. so when you buy an etf, buy shares in the etf company that happens to hold a basket of stocks. what we've done in this world, post a lot of things, i want to know what i'm investing in. the problem with mutual funds and e

probé de todo, probé marcas, firmas de todo tipo, cremas; probé nácar de no sé qué, baba de no sé cuántona cápsula en la noche, y me funcionó de maravilla. es un producto que le agradezco ahora a mi prima de habérmelo recomendado, siento un rostro renovado. es una maravilla bioxtron, he sentido que mis marcas, las manchas, hasta la cicatriz en el mentón se han desaparecido. además de eso, te cuento un secreto: tenía unas pequeñas estrías en el abdomen, y se han ido desapareciendo poco a poco, gracias a bioxtron. bioxtron es una maravilla, y me siento supercontenta. >>narrador: vivir sano y feliz ya no es un sueño. experimente usted también el descubrimiento que está cambiando al mundo: bioxtron. ahora es posible alcanzar el tesoro más preciado: la salud. bioxtron es una concentración única de afa, la superalga que actúa como biomodulador, logrando que nuestro cuerpo produzca células madre para aliviar terribles males como la diabetes, la artritis, la hipertensión, los dolores musculares, la osteoporosis y muchos más. bioxtron, la revolución del siglo xxi. bioxtron es 100% natural y solam

cent.rsus tens there are a lot of questions surrounding ali baba's ipo. this will be the largest probably that the u.s. has ever seen. again, what is the competitive .andscape like >> you will be in atlantic city tomorrow. >> yes. i've been practicing my blackjack. we are looking at the challenges that atlantic city is facing right now. as you know, a lot of problems. you've got a number of casinos that are closing down. revel is just the latest announcing they will be closing next month. a lot of jobs are being lost their and a question whether this is a place that will really survive. the title of the show and our coverage of the city is "atlantic city: lights out." it could be not just tough for the casinos, but for the community at large. >> there are so many places to gamble in the united states right now. you don't have to go to atlantic city anymore. while vegas was able to turn itself into a destination, a vacation spot with many more things to offer, atlantic city really did not go enough down that path. >> we will look for that tomorrow and look

in the meantime, we have breaking news on ali baba.with their june's earnings report, posting earnings of $.84 on revenue of $2.5 million. cory johnson -- excuse me -- that is two point $5 billion. i thought that was a typo. "bloombergn, our west" editor-at-large joins us with more. we were expecting this filing. what is your take? >> i have been doing some math. alibaba is a free cash flow creating business. over a yeare grown basis of 46%. they get ready to ipo sometime in the next month. 46% over -- year-over-year revenue growth is quite possible. it shows you the business model. we are just in the numbers in the last minute or so so i will go through and look for the funkiness that we see with other when they reported ipo trying to sell a lot of stock to the public. on the headline numbers, this is the kind of deal, in this kind of market, that could be the biggest ipo ever. forget technology. it could be the largest stock offering in the history of the public markets. it is a big deal. to come with the quarter that is so strong, c

the e commerce giant ali baba plans to launch an offering september 8.shares should start trading as soon as the 18th and the 19th in new york. >>> the time is 9:45 and apple is getting a lot of attention over a three story building going up at the flint center in cupertino. apple is going to use the all white enclosure for a mayor product announcement september 9. yesterday, a delivery truck driver told us that security around the building is pretty tight. he says the company is not telling them anything and that it is making them sign nondisclosure agreements. this location is pretty significant to apple. steve jobs unveiled the first macintosh computer here 30 years ago. apple is expected to unveil a new iphone with a larger screen and also a wearable computer. >>> president obama is praising the hard work of americans on this labor day weekend. >> that's the bedrock this country is built on. hard work, responsibility. sacrifice, and looking out for one another as one united american family. so let's keep that in mind this labor day and everyday. have

ahead on "bloomberg west" this hour, commerce giant ail by baba is facing new questions about whetherugh due diligence on its recent acquisition spree, this after possible accounting flus turned up at one of its purchases, alibaba pictures. the recent disclosure means the upcoming i.p.o. could face additional scrutiny from u.s. regulators, though not likely to delay the i.p.o. the i.p.o. road show may start september 3.

he is the one making sure that they go with ali baba's best interest. >> and a yale lacrosse player, one of those who knew him back then says that he used to wear a pick triangle to support gay rights. jock in uncommon for a the 1980's, and for someone coming from taiwan. what he's said in response to some teasing that happened surrounding that was it was the right thing to do. this of course is the guy that investors are going to look at and say, should we buy shares of this company? can we trust that our investments will be protected and the company will be acting in our best interests? adult in thehe room. with a moral compass like that, that says that. >> i do not know about the morality of the setup that takes the ownership of the company away from the shareholders, but ie is very e different. talk about that. >> it is very previously when chinese companies went public, historically they have gone public with about 99% of their revenue tied to the vie structure. the risk is if the chinese government decides to dismantle the structure, they will lose their investment. did differe

if you are calling the shots on how that cash from ali baba were spent, how would you spend the money? >> oh, god, hypotheticals. my strategy was clear when i was there. i would have invested more in premium content, more in ways to monetize that content. i also think, honestly, there was no way around rationalizing thesize of the company and focus. 2 years in, you really have to be focused on what that company is, how it is set up for the future, and the money -- look, no secret, i was aggressive looking at hulu, both at yahoo! and post-yahoo! video is part and parcel of the future and in that respect, premium video. i was pretty clear and on record on where i was to move that company. marissa comes from a very different background than me and she is an incredibly talented product person and visionary. wherever she ends up taking it longer-term, the markets will judge it and the entire industry will judge it. >> only about 10 seconds left. in terms of what you are up to now, you are with companies like stout. is there a common theme here? >> i would say i am in and around premium con

ahead on "bloomberg west" this hour, commerce giant ail by baba is facing new questions about whether it's done enough due diligence on its recent acquisition spree, this after possible accounting flus turned up at one of its purchases, alibaba pictures. the recent disclosure means the upcoming i.p.o. could face additional scrutiny from u.s. regulators, though not likely to delay the i.p.o. the i.p.o. road show may start september 3. apple's china challenge could get tougher after china mobile, the world's largest carrier, will cut phone subsidies by $2 billion after the government told it to lower marketing expenses. lack of subsidies may make it harder to sell high-end phones in china. it can also give a surging boost to competitors. the latest trends in tech are winding up in the dictionary. words like netflix-inspired binge watching, live tweeting, sub tweet, buzzfeed have been added to the oxford online dictionary but they're not in the official dictionary as of yet. to our lead story, ail bab why group has been on an acquisition free in the run-up to the i.p.o. but now there are

>> i tell you, what itself going on with yahoo, it's trading on the ali baba expiration and the stubnd expectations of how they will spend the money and the tax implications of the money. this is a vortex. it's a 32 to $38 trade. i think somewhere around $38 bucks you have to fade it. it's probably going to trade lower again, i think you boy it. >> there is for gordon, first seller earnings, buy or sell? >> actually. we will be buying on the earnings. i think first solar has enough to report whatever they want. we think there is risk in 2015. we think they will report a number inline to above consensus and they will reiterate their four-year guidance. >> this is for the chair woman. what do you think of the biotech for first something's ira? >> i don't like picking specific stocks. we've done the xbi or ibb. can you do a little of both and hang onto it for a long time. >> we will come right back. stay tuned. . tim seymour. >> has anybody checked out emerging market up 8.5%, korea to me is the best eps growth and momentum. ewy is a place to play that. take a look. >> gordon johnson. >

the chinese giant alley baba has the market going up soon in the united states.rofits nearly tripled to nearly $2 billion in the three month period to june. not surprising given that it accounts for 80% of all online retail sales in china. got a lot of people, right? could be worth more than $200 billion when it goes public on the new york stock exchange. all good news for this man here. founder and chairman. he's a former colleagues lecture who's china's richest man according to the billionaire index. he's set to get richer when the company goes public. we'll be across all that for you. this one. i'm sure you've seen it. the latest craze to hit the internet. it's the ice bucket challenge. famous and not so famous people pour a bucket of ice water over their heads. some suggests we could have had more buckets on this one. it's in the name of charity. then they post on the internet. the ice industry is a benefactor. sales of ice across europe are up 20% apparently on the back of the ice bucket challenge. we'll have more on "gmt" in over an hour's time. tweet me. i

baba tabesh is the guardian of the tel temple. holes in this rock represent the good and evil that exist in each one of us. i asked if the yazidi faith has similarities to other religions like islam. >> our religion is an ancient religion, we have not taken anything from them. >> these kids are among the 600,000 yazidis in iraq. their numbers have dwindled. they escaped the 30% unemployment rate. they have been the victims of massacres they say 72 times in history. yazidis have kept their culture and faith alive despite persecution by saddam hussein. but sunni fighters see them as infidels that deserve death. roxana saberi, al jazeera, iraq. >>> people in need like though refugees in iraq, simon welcome. >> thank you, john. >> how much does the iraqi government care about yazidis and christians who are being held by the islamic state? >> well, i think one of the problems at the moment is of course we have an iraqi government under maliki which is sectarian and incompetent, around it can't defeat the i.s.i.s. insurgency, so we are