fantastic profits. 0ne analyst described baidu's earnings as destroying expectations.the search engine's net profitability nearly tripled in the first quarter after they spun off their radio business and listed in new york at the end of march, raising two and a quarter billion dollars. baidu is tried to reposition itself from a heavy reliance on the search engine business, to technologies used in al business, to technologies used in al business, from autonomous driving to facial recognition, which china's government wants to become a leader in. last year dispose of its delivery business and is going to get rid of its financial services arm and this is why they try to focus on artificial intelligence and so focus on artificial intelligence and so far they have been successful in it. good to talk to you, thank you very much. now let's brief you some other business stories. microsoft's profits soared 35% to $7.1; billion in the three months to the end of march, boosted by growth in cloud computing. more and more companies are shifting their it systems to offsite data cent

baidu is china's largest -- most popular search engine.entering a critical year after selling four spinning off non-core businesses including food delivery. coming up, after paypal strong earnings, the ceo will weigh in on possible m&a. this is bloomberg. ♪ emily: sequoia capital has raised $6 billion towards the biggest capital venture fund. top venture funds have exploded recently to compete with the softbank vision fund and the $100 billion target. softbank has written massive checks to the start up like uber and india's foot card. paypal beat estimates and gave in optimistic -- an optimistic forecast for the second. they continue to add new accounts, but what about rising competition and online payments? paypal ceo john remy discussed that earlier with vonnie quinn and mark barton. >> we have seen a lot of interests in the high-growth business we are in, and with moving -- money moving to digital payments, there is a lot of companies that want to participate. we will continue doing what we have done, and if you look at our history sinc

company's name to the report like ali baba and ten cent claim the examples were isolated incidents and the baidu highlighted that almost fifty percent gender balance in senior management i spoke to china director of human rights watch a movie richardson on skin if the reporter cherry picks the bad examples ignoring the progress made i think even one is too mad again and it's probably safe to say that it was not hard for us to multiple versions of these ads for each of those companies over the span of about five years but equally problematic are the government's own civil service job listings and we noted that in twenty seventeen about thirteen percent of those that i don't stipulate no preference or requirement for men only. twenty eight thousand that actually went up to nineteen percent almost one in every five government job that said it was for men only is book bunny do for example one of the companies that you cite says that almost hollywood senior mid-level managers are women so the progress although those ads that were mentioned terrible the progress also needs to be emphasized yet amazing

in china alone, alibaba and baidu ready have their own streaming services and apple is creating its ownu, while disney. supplying new movies to netflix because they are creating their own video service and that will be geared towards families. so much content. you know what? i haven't actually watched these two programmes. thank you so much. monica miller, al colleague and business reporter on netflix. have you heard these two works? experience economy. simply explain and engage customers in a way that creates a memorable event beyond the tangible purchase. starting this week, we will look at businesses geared towards a new trend of consumers. those who place higher value on experience over material things. to kick us off, we go to the australian outback where opportunities have ta ken australian outback where opportunities have taken off for some helicopter companies.” opportunities have taken off for some helicopter companies. i think it isa some helicopter companies. i think it is a very unique tour. a pub crawl in a helicopter, yeah. this is the first stop. indian island is just out

baidu, the u.s. listed version of baidu trading up as well. >>> yojosh lipton has looked at the latest figures from microsoft. >> microsoft reporting and beating eps of 95 cents on revenue of 26.82 billion versus expectations of 85 cents on revenue of 25.77 billion looking through the segments, kelly, revenue and productivity and business processes, $9 billion, but office 365 commercial revenue up 42%, and revenue in intelligent cloud, 7.9 billion, and azure growth, 9.3% and windows oem up 4%, kelly, and, timely, commercial cloud revenue clocks in at $6 billion and gross margin there of 57%. an adoption of cloud keeps ramping and that the primary growth engines of the business continue to move ahead, but there was a deceleration of azure growth this quarter, perhaps due to seasonality josh lipton, cnbc business news, san francisco. >>> renault has confirmed its 2018 targets after reporting moderate growth in revenue for the first quarter. it was up a lower than expected 0.2% on the same time last yea

baidu and ten cent. and rebecca, you had mentioned how they actually both showed improvement over time. and just wondered your thoughts on companies like baidu and sen sen operating within the chinese environment. i think there's a tendency to say, oh, well, it's china, there's nothing to be done. but here you see companies actually improving over the last year. >> yeah, i mean, they're not improving their transparency without government censorship demands and they're not improving their transparency about government surveillance that's, you know, like involves involves government people looking at activities. they're not transparent about that, and that is not improving, but when it comes to disposing, again, what's being shared commercially. what's being shared with other entities that are not governments, what's being collected, how it's being used, we're seeing a willingness to be more transparent and some value placed on that and also security. in china, the chinese public is very concerned about ha

this is about keeping the future alibaba's, baidu's here in the mainland market. 3 billion yuan bale to -- able to list in ipo's here. before, you weren't able to do that on the mainland market unless you were profitable. haslinda: emma, you talked about some of the features. what are the other special features that allow for these cd-r's -- cdr's? emma: what's quite interesting is that these sort of corporate shareures and dual class situations that the likes of alibaba and other big tech giants from china use, they'll still be able to keep these, because their primary listing u.s., in then the case of alibaba. if tencent decides to take place in hong kong -- they will be able to list the cdr's without having to change any of that. of course, some of these structures are not allowed here, if you are just listing out right in china. -- outright in china. the same with ipo's, which are more targeted at the innovative companies. this is strong to keep those high-tech unicorns listed here in china so that the bounty, the future bounty can be shared by the mainland in

named in the report like alibaba and 10 send claimed these apples were isolated incidents, another baiduighlighted their almost 50% gender balance. i spoke to separate richardson asking if the report chirp picks the bad examples, ignoring the progress made. >> i think one is too many. it is not hard for us to find multiple versions of these as for each of those companies over the span of about five years. equally problematic, the government on civil service job listings, we notice that in 2017, about 13% of those ads stipulated a preference or requirement for men and on 2018, that went up to 90%, it is a most want in every five government job as said it was for men only. christopher: well the companies you site says almost half of the senior and middle managers are women. so the progress, although -- those and that were mentioned were terrible, the progress and is to be emphasized. >> it is amazing how many of those companies have offered that up as some sort of justification for engaging in other -- discriminatory behavior. it is good that they have women on their boys but it is still i

technology, a big part of that, whether it is baidu, amazon, intel, microsoft. a host of tech names. comforting to have been shaken by negative news flow and concerns around chips, in particular, in the technology sector. we see a divergence between the we couldhich suggests be higher. the rest of the futures picture is more muted. u.s. 10 year yields, we are consolidating a little bit below that 3% level. 2.97% of course. appetite for stocks and bonds right now in the overnight trade . next week, a lot more information about supply of u.s. treasuries in the second quarter. that will be interesting. the politics i referenced really to do with the korean won. as aorean won on the rise result of that momentous moment. it only happened a few times mete the 1950's where moon kim, the south met the north, over the bridge between the two. we focus on the geopolitics. here is juliette saly. thank you. the bank of japan has left its monetary stimulus program unchanged as governor kuroda started his sixth year at the helm. the decision to maintain the program and asset p

ramy: and baidu grew strongly in new york and expectations, with revenues at 3.9 two $4.2 billion.lart 60 and the improvement is due to surging at sales on its new talkingand subscribers to its netflix like operation. microsoft exceeded forecast lifted by a strong corporate demand for cloud computing services. rose $7.4 billion, or $.95 per share. sales rose 16% to $2.7 billion as marc a soft drop demand for its clout products. ramy: intel is offering better-than-expected second-quarter sales forecast and raising earnings outlook for is the wider computer industry continues to make money. od is in the current peri beating estimates raised on the strong start to this year, intel is also boosting its forecast for 2018 revenue by $2.5 billion. ramy: that's stay intact as amazon it records after profit forecast top analyst estimates on prime growth. our next guest says amazon is the new ge, and here to explain his retail chief technology officer pd singh. pd is it the new ge year? is an amazing company and we say it is the new ge because if you look at all the different business life t

baidu controls its own boomer unit last year, which along with mccord are two of the biggest competitorse china the very market. espn is debuting a new streaming service will cost 4. offer hundreds of sports, andllege tennis. it will debut on april 12 and the video on demand from disney will launch in late 2019. coming up we take a look at the deep dive tech selloffs. and bloomberg tech's livestreaming on twitter and check us out on technology. this is bloomberg. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. alisa: you are watching bloomberg technology. here's a check of your first word news. president trump went after the doj and fbi again today on twitter, accusing them of information anddent delaying su

alibaba, unlike baidu, doesn't have the native ability to research a lot of these things.meantime, the best foot forward is to invest in companies which are developing, you know, a huge array of technologies relating to computer vision, which in this day and age, goes from unmanned stores that rely on computer vision to identify the products people are picking up off the shelves to autonomous vehicles, figuring out what other cars are on the road. you can use this same kind of engine to drive a lot of different products and solutions, which is quite valuable right now. obviously, what we understand, according to people familiar with it, is they are raising another round of funding at $4.5 billion already. rishaad: it was already more than $3 billion, becoming the world's most valuable artificial intelligence data. david, thanks very much. coming up, we are going to be looking at miranda, coming in to talk about her unicorn based in china. we are going to be looking at that when we had over to the forum taking place on heinen island. taking a look at the company which has b

are you concerned about names like tencent, baidu, those names that have done very well at this pointe year, do you think that's what happening in the u.s. will spill over to some asian names? >> there is an element of contagion there, which is logical. that's what you tend to see in the market and in the u.s. market as well you see volatility going from one sector to the other without any direct link. one has to realize that many of those platforms in china make 90% to 100% of their money locally. so it shouldn't really be all that affectaffected. what is the link between the two is that idea that valuations were a little bit too high, were frothy that was already a concern at the end of last year and that, indeed, leads to a bit of volatility indeed the trend of trying to add more value add in manufacturing and technology has a part in there, more broadly as well that's a longer term trend and part of the five-year plan >> given how much is domestic exposed. going back to the last segment, you said fundamentally the u.s., when you think about a forward looking basis, you said earnin

you can see from the chart over the last couple of years, if you have been an investor in baidu or alibabancent, you made a lot of money. the companies are doing really well. sorry. that going forward, the growth in these technology companies internationally is going to continue. maybe not at the same hectic pace but certainly at a rapid rate. we are not cutting back on our investments. tom in beijing. you talked about the physical sector. i wonder if you are optimistic about china as well because policymakers are opening up that sector and some of the foreign drug makers were optimistic. do you share that? don: they are five times as many people in the prc as there are in the united states. so the market is large. will the average chinese be going to western medicine? it doesn't have to be a big percentage for it to be a big number, so i would say going forward, the upside is greater than the downside from here. cautiously optimistic would be my way of putting it. betty: you mentioned -- [speaking simultaneously] don: sorry. about tradeentioned tensions that could be perhaps more bark tha

you saw baidu.o a lot of pent-up demand for chinese tech companies that have hundreds of millions of users and growing at a fast pace >>> the other big money story is google, their parent company afsh beati af alphabet beating on the top and bottom line. it was a wild market post-trading let's bring in dan ives. the stock rose yesterday when the numbers came out i looked last night before i went to bed, the stock was down 8 %. now up fractionally again. why the back and forth on google's numbers >> a lot of moving parts and nervousness going into and through earnings take a step back, last quarter was a soft quarter stocks underperformed significantly. this quarter advertising is a positive step in the right direction. regulatory worries and sort of in this new world. but they're doing it at a cost in terms of expenses i think expenses continue to rise capex is increasing. tac costs came in higher than expected, traffic acquisition costs. what they spend to get business in a rough way, that went up

data and the market. 750 chinese web users and that data is available to the big players, tencent, baidu other is an ability to use the data. chinese privacy concerns are not as high in the u.s. as they are in europe. and third, a government strategy. it very big push from the top for china to be a competitor in this space. the chinese firms are still not as competitive as u.s. firms. most of the important research is being done in the u.s. china lacks on the talent side but they are a fast competitive -- competitor to the u.s. in the space. emily: breaking news. veteran affairs secretary david shulkin is being replaced by president trump. the president will nominate his personal physician, ronnie jackson, to succeed him. the turnover in the white house, adam, continuous and leads to a pretty good question on these issues. on the tariffs. given the uncertainty of who is in these jobs, how do you think that will affect how the policy actually plays out? adam: it has certainly affected the chinese. they have been scrambling to figure out who they should talk to and who they should negotiat

this is with baidu.7 4.7 billion, and the consensus estimate was 3.5, so it is much higher than what analysts were looking for. julia: as far as expedia is in theed, a mixed bag after-hours trade. they did post a net loss of $137 million, and those losses were steeper than they posted a year earlier. if you look at the revenues, they rose 15% and battle that what analysts were expecting. the other positive increasing 50% -- 15%. out the shares are down double digits this year as well and put that in context of the gains we are seeing. the big three megan automakers reported earnings -- the big three automakers reported jimmygs and we bring in butler us to wrap up these earnings. what is the important take away? >> the big news is fort and the decision to discontinue their sedan business in their home market in north america. these are still profitable companies that are doing very well, there cost basis is that are in line. i cover this industry for decades and the prophets are a little down from recent

you look at a lot of the chinese names, your baidu in your alibaba. now, those and if you throw in samsung, japanese names, if you throw in those, the equal about more than 10% of waiting on your index. talk about a broad global rally in emerging market, a lot of it is linked to the tech stocks. >> this is important to remember. they certainly think of various commodities producers, formally state owned, things like third typical plates, but it is important to remember how much of it is now in tech. >> and that is what you see and that is why the danger might be acutely especially as tensions surrounding intellectual properties acutely related, this could be a big problem. >> we were talking about the relative resilience we have seen and also the local currency bonds as a you look for weakness and then you have got a bigger problem. a critical point. thank you. >> we hit the s&p and the u.s. and asia. also a chart here, and german ten-year yields. another line about to intersect with another line. what is going on? >> it is crazy. we had a very low ba

andost that with alibaba baidu.w, hong kong exchange released the consultation paper in february 2018, which will allow tech companies or even companies that rights to be lifted. they are proposing to amending the rules to allow more to betive companies listed in hong kong. that is also a major step. reviewing whether they actually missed an opportunity for alibaba to be listed in hong kong. rishaad: there is certainly that possibility. let's talk a little bit about how the chinese government and laws restrict people, foreigners, from investing in domestic internet companies. this leaves out a lot of money. ofnew york, you have a lot foreigners in your stock. if we go back three or four years ago, there was a lot of discussion about the in thetional boarding markets. has -- that has been suspended for some time for various reasons. capital control is one of the main concerns. there is a balance of policies to be taken into consideration. the recent example, 360, the privatizing of the u.s. issue and then back to chi

baidu is strongly on the up and up and new york, forecasting that the second quarter will be ahead ofp to 3.9 to $4.2 billion. stocks almost the dollar ahead of the estimate of $260. this insurance company, first quarter profit up 10%, due to more premiums. it is china's biggest insurer by market value. they have been clamping just $4 billion. they hope to expand life insurance premiums even though we are going to an industrywide slump in sales blamed on tighter regulations. pricing its hong kong ipo at the top of the range, the online health-care platform sold 160 million shares at 54 hong kong dollars apiece approximately. they aim to begin trading on the fourth of may. j.p. morgan joining the offering. deutsche bank as such to be planning to cut mother and 10% of jobs as they withdraw from areas where the they reckon they cannot compete. the lender is retreating from its past him of being an investment bank at a global scale. america accounts for more than 10,000 employees and about a 10th of global staff. 400 people were dismissed this week alone. coming up, the malaysian prime mi

announcing a child that with alibaba, baidu and others are traded on the mainland.companies that went public abroad. they have a market value but meet $30 billion. that plan would also allow firms to have money offshore. a power generator that pleaded for president trump file for with energy bankruptcy. it list of five hundred $50 million in cash to continue working in me obligations in a chapter 11 filing. lastly the energy secretary rick have aas called on to grid of emergency and guarantee profits in the industry. betty: sony enters the new fiscal year with a new boss. rain as ceo and driving the company's turnaround. hisstors like him for style, but some managers tell as they worry he doesn't have the passion for the kind of gadgets that made sony and household name. yvonne: now for a look at what is coming up here on bloomberg tv. what to expect in bloomberg markets. rishaad: waiting to see if we will have tariffs snapped on china by donald trump. this is from the u.s. in singapore. starting for negotiations. was talking to us about market risks. we get a risk

also baidu getting a stake in its financial services business.y consortium then the vacation time share company ilg become bought by marriott vacations worldwide the price tag there $4.7 billion. >>> get out your party hats, everybody, the economic expansion is turning 106 today 106 months, that is. it was counted up by none other than steve leisman who is still treating this as a toddler counting by months >> let's hope, becky let's hope it has a long way to go yes, if we grow today in everyone expectation, we end the month of april with growth this will become tied for the second longest expansion in history i thought what we'd do is walk the expansion. take a look at some of the highlights first i want to start here first we pass the shortest expansion and that was back in 1988 just 12 months let's walk a couple of other steps. five years, that's the average expansion. a few more to the 106-month, that's today we'll get to tying the second longest. then here to the longest expansion, we have another 14 months to go if we can make it to tie wit

that clearly puts the likes of amazon, baidu, as an example.hat is the forefront of where we think the most promising long-term stories are. i do take the view that some of the data collectors and in some ways, data users, which include facebook, google and some others are going to come under real scrutiny and i think the share ag.ces will probably l francine: what did zuckerberg specifically say about how they will do better next time? >> he promised they would have more people looking at content, to make sure that hate speech and related issues are not allowed onto the website. be having ang to much more proactive stance on the kind of advertisements allowed on the platforms. they will tighten up the amount of data that the app developers have from facebook users and a lot of this stuff is stuff we knew in advance. facebook have in making a raft of announcements over the last few weeks to combat this bad press. most of those announcements have been positively received and were just reiterated. has reaffirmed that the user data is their data.