a chinese tech site reports the iphone 7 will have more storage and a battery that is 13% model. >> it feels like we are running out of things to be excited about with the iphone. batteries. it will be great. >>> the must-have piece of clothing for nap lovers. extra z's. next at 6 in the midst of a winter blast cold and snow making it miserable tore out how long all of this is going to last. plus, the dangers of heroin. tonight, massachusetts police are warning about a glamorous label for what could be the what would you do with five minutes to kill, and a smart phone? check the scores. text a friend. how about register to vote? really? you can. five minutes online and a massachusetts drivers license is all it takes to register so you can vote for our next president. go to registertovotema.com. it's that easy. done. i just registered. that was easy. register today. >>> perhaps this is the invention travelers have been dreaming of. it's a hoodie with a built in pillow called the hip know sleep hoodie and it's an inflatable sweatshirt. makers say it can turn any napping station although

between working at a chinese tech company and google? there is a lot in between the lines in the culture. you have to be sensitive with what you say and who you say it in front of. xiaomi is a interesting mix of silicon valley work as hard as possible culture with more traditional chinese culture. emily: what makes xiaomi unique from samsung and apple? hugo: it is really interesting hybrid of things that you would see at apple, an absolute love for design and the culture of perfectionism. this is coming straight from our ceo. emily: is it a phone company, an electronic company, a software company? hugo: it is none of those. emily: is it an internet of things company? hugo: it is an internet company. that is the best way to describe xiaomi. we interact with our customers and users, or as we prefer to call them, our fans through the internet, through social media. we sell our products direct. we are the third largest e-commerce site in china. and the largest pure play by miles. we design products, taking a lot of input from the community.

that drove a lot of interest in the chinese tech industry. rishaad: the boom was felt everywhere.orn has come along. last year was a boom worldwide. $136 billion globally. everything you had a record number of privately held companies worth $1 billion or more. the weird ring as well you have so much money going to the private sector you will see exiting of ipos. we had a record amount of money going in and you have the lowest number of access since 2008. rishaad: but we have witnessed with market gyrations and currently is it may be the result of some of these venture capitalists. >> that remains to be seen. vc guys have a longer outlook. getexpectation is they will multiple 100 x. the vc might have that outlook but the people investing in vc might not. s.\t are the lp' will they have an appetite for current -- continued risk? they are optimistic. they see continued strength. i spoke to a handful of guys. there have been a number of startups that have imploded because funding is running out. the picture is unclear because there is a different set of forces happening. searching for

in the chinese factories of many tech companies, copper, chromium and others heavy metals saturate therever to be used again. in 2010, a chinese activist contacted all the tech manufacturers to discuss the issue and even wrote to jobs personally. all the companies ultimately responded, except one, apple. it wasn't until jobs left the company that apple even agreed to speak to jun. >> foxconn is apple's top supplier. so it all goes downhill from there in terms of the standards of in terms of everything. these young people come from the countryside under unimaginably poor conditions looking for a better life. >> this man come to foxconn from a small mountain village. placed in the product communications department, he was responsible for the security of iphone prototypes bound for apple's headquarters in silicon valley. in 2009, an iphone 4 prototype went missing on his watch. yong searched high and low for the prototype before reporting it missing to foxconn's security. that evening, officials took him into an interrogation room where he was assaulted and was told police would arrive th

tech bytes. >>> the chinese stock market has a halted for today and it's blamed on a circuit breaker. earlier today trading stock for about 15 minutes. the index went down 7%. those new circuit breakers went to help prevent wild swings like the one that happened last they are. >>> do you know how to do the whip and nae nae? >> of course. >> the moves a dad his girls. >>> somebody got shot! somebody got shot in the head. >> the call for help a woman made as a former employee started shooting at a b bton market restaurant. our cosmetics line was a hit. the orders were rushing in. i could feel our deadlines racing towards us. we didn't need a loan. building 18 homes in 4 months? that was a leap. but i knew i could rely on american express to help me buy those building materials. amex helped me buy the inventory i needed. our amex helped us fill the orders. just like that. another step on the journey. will you be ready when growth presents itself? >>> a father totally out nae naeing his daughters in a funny video bomb. >> the dad saw the kids recording themselves doing the dance and snuck

attacks stem from protests over the execution of a prominent cleric over the chinese companies deep in the red today. stocks,her u.s. tech going in the opposite direction from last year, netflix and amazon dropping today after posting their strongest gains in 2015. what does it mean for the sector in the new year? joining me is max wolf and our guest host for the hour, david kirkpatrick. happy for both of you. -- happy new year to both of you. what is going on with netflix and amazon? david: probably not a whole lot. so little that whatever happened in the stock market today for companies like that is probably very short, in my opinion. emily: ok, max, wall street guy, what do you see as the connection? why were tech stocks hammered today? max: happy new year and thanks for having me. i am not sure i want to wear the moniker of tech guy, but my take is the following. three different streams collided today. when you cross the streams, as we learned from ghostbusters, not all together good things happen -- altogether good things happen. the high flyers of last year were sold off today. you give yourself alone on the tax bi

chinese markets embattled. are inthe stocks oversold territory. a little bit of a recovery when it comes to some of the industrial names, financial seeing a rally. the techs and health care stocks, not getting much love. separate news flow coming through from the chinese government, clued print -- crude prices, no adjustment when it comes to fuel prices in china. a nice rally. in hong kong and shanghai, a big oil refiner, some of the names up. petro china leading gains in the sector, up by two and 6/10 of 1%. get more on the figures, youw gdp have had time to look at it in more detail. what does look like behind the numbers? >> a soft reading. the economy was struggling going into the latter end of last year. undoubtedly a disappointment after the initiatives that have taken. the silver lining, the services sector is holding up pretty well . the consumption side is holding up pretty well. not a bad result considering there was a stock market rising in china last year that raised $5 trillion in value. on paper. but even with the negative sentiment, as consumers consider -- continue to spend. the problem is, the transition is not happening fast enough and

i look for the moves in crude, moves in the chinese currency and tech stocks as well. -- sinceing overch stocks have gone sold off somewhat indiscriminately. no one really cared what the story was for individual stocks. it was just kind of sell anything that could be sold and obviously amazon and netflix were among stocks that had great runs in 2015 so people took a breather. stephanie: it was not a fundamental reason why we saw selling was technical? individual worries about individual companies like apple and twitter but otherwise sort of sell whatever you could. jon: let's get back to fundamentals. we have been hitting apple hard all morning. is not just about a momentum trade any turnaround, a genuine demand for the products they make and supply in china. there are reasons for a selloff in technology, are there not? shira: the last six weeks or so have been dominated by worries out of the asian suppliers that make parts for the iphone. the iphone is something like two thirds of apple's revenue. how apple goes is totally dependent on iphone sales. there are some signs that orders ar

tech, interesting but only select ones. with any part of sell phones because the marginal buyers are the chinese although i'll exclude apple and talk about it later in the show. i prefer to buy tech on day three of any sell off because i'm worried about global economic sensitivity. i want to avoid it whenever possible. which leads us to three groups, retail, health care, and consumer package goods. what should be our targets? what can we start buying? we need certainly. who has given us certainty recently? they just cleaned up a big patent mess and allowed us to see the stock is cheap. kroger is the domestic spending name. a positive note from jp morgan and it could go to a takeover. colder weather lowers the risk here. we have to let it come down before we pull the trigger. growth rates. and the company that runs the now much better performing olive garden has a excellent dividend. there. there, that's your down and dirty shopping list. the companies we know that are doing well that can continue to perform well because that's what they did last time we had a china scare and there's not much guess work about the earnings ho

tech add on your >>> 9. 40. china put the brakes on stock trading because of a nosedive. financial analysts warned chinese markets are likely to few more months. jitters rippling around the world. the dow opened a few minutes ago below 17,000 and heading even lower. 239 points. >>> an oregon mother is facing charges now after faking her own daughter's kidnapping. police say 31-year-old tara brandenburg crashed into a bridge earlier this week and panicked. they say she walked to a gas station, bought a box of wine and left. several minutes later she returned screaming that someone stole her baby and dog from inside her car. >> she was very, very frantic and she got on the phone with whoever she was talking to and they gave her our address here so she could call the cops. >> when officers got there they found no evidence of a baby or a dog being in the car with her. it was determined that she had made the whole thing up to avoid getting in trouble for the crash. officers say she's now facing a slew of charges, the father of her 4 week old baby has custody >>> a man who looks a bit like tv personality mike r

tech. what about apple's iphone competitors there? reporter: the chinese middle class is up like u.s. middle class starts $16,000 a year, and they are going to buy cheaper phones as the economy starts to soften. and it looks like it may have issues in terms of the market. have you local taiwan options that are cheaper, but, the iphone still is the major status symbol in china. we do see potential softening in china for apple with the 14% growth rate that does not necessarily mean it will take a tumble just yet. but it seems that the cfocks concern -- sfo is concerned about where china is headed. deirdre: stay with me, if you don't mind, we want to expand our power panel on apple, as we've been coffing iphone sales, growing at slowest pace since the infrom duck in 2007, should you buy, should you sell? jonus is taking the bullish argument, gary is the bearish argument, jonus i put you on the spot, it apple's hyper growth at least on pause? >> so, what it is on pause until iphone 7, this is a value stock, a growth stock trading at a value stock. the chance of moving money is almost -- l

tech changes we can expect later this year. ((kirsten joyce)) > and the makers of kit kat are celebrating chinese new year... with their limited edition gold kit kat bar. when you'll be able to get your hands on one. /// < welcome to a brighter morning, this is 8 newsnow with kirsten joyce, sherry swensk, demetria obilor and brian loftus > ((kirsten joyce)) > thanks for waking up with us, i'm kirsten joyce. ((brian loftus)) i'm brian ((sherry swensk)) and i'm

and why apple says the tech jen -- why to roost one investor says apple needs to boost gender and racial diversity. data shows chinese manufacturing weekend for a fifth straight month, triggering concerns about a slowdown. to unprecedented lengths to steady financial volatility. the s&p got off to its worst start in years and the dow fell more than 400 points at one point. alibaba is deep in the red today. some notable names are going in the opposite direction from last year, netflix and amazon dropping today after posting their strongest gains in 2015. what does it mean for the sector in the new year? joining me is max wolf and our guest host for the hour, david kirkpatrick. happy for both of you. happy new year to both of you. what is going on with netflix and amazon? david: probably not a whole lot. so little that whatever happened in the stock market today for companies like that is probably very short, in my opinion. ok, max, wall street guy, what do you see as the connection? why were tech stocks hammered today? max: happy new year and thanks for having me. want to wear the moniker of tech guy, but my take is t

chinese yuan much firmer midpoint range. tokyo, trading is looking pretty directionless today. investors are pretty directionless but nikkei still ended in negative territory by 1.3% led by retail stocks and tech companies. in south korea kospi also ending in the green gaining .7 of 1% but heavy foreign selling continued. back to you. lauren: tracy, thank you so much. nicole: chinese stocks are bouncing back today following a week of wild trading. that is an understatement. but they're still down 10% for this week okay? this is ongoing serious story. we have a great guest for you guard done chang, author of, "coming collapse of china." you joined us this week. you've been a big part of fox business. now what? they get of circuit breakers. we're still worried about the yuan and chinese economy. >> yes. the concerns about economy have not gone away despite the marginal increase today. the reason is the manufacturing sector is contracting. services are growing but not growing fast enough to compensate for that. the chinese stock market, i think you know, today was calmed down. that is -- of course, because the government was in evidence in some of the trading. the big story is going to be this we

chinese version of twitter just cranked up the limit. weibo will now allow 140 character only the first 50 will display. tech website reported that twitter is looking at posts up to 10,000 characters. >>> the card game raised $9 million making it the most history a year ago. now it's available for apple devices for 1.99 and an android version is said to be coming very soon according to mashable.com. in the game which i did not make up so, send hate my to my producer, kittens will explode unless you defuse them with items like a catnip sandwich or laser pointer. wow. >>> here's some good news for siracha lovers, you no longer have to keep a big bulky bottle in your car or desk crash. the website siratcha to go is selling the real thing in tiny packets just like ketchup. while the idea is practical, it is not cheap. delicious cinnamon bun. now you can crush both with an oreo. here's something else to look forward to. red velvet oreos will make their return just in time for valentine's day. >>> sounds pretty tasty. well the aurora boreales spectacular last night if you had the right viewpoint. and astronaut sco

the change comes after four microsoft employees reported the tech giant failed to warm victims of a chinese attack on hot mail accounts several years ago. >>> airbus is selling three a 380 jumbo jets. the faa is reporting fixes to boeing 767 slides. >>> right, it's time to slip in a quick break. when we return, your kensho trade of the day. we'll head overseas to london and check in on how european markets are doing in trading. quick check on the map shows us we are declining by 2 to 3%. stay tuned, you're watching cnbc, first in business worldwide. ♪ while you're watching this, i'm hacking your company. grabbing your data. stealing your customers' secrets. there's an army of us. relentlessly unpicking your patchwork of security. think you'll spot us? ♪ you haven't so far. the next wave of the internet requires the next wave of security. we're ready. are you? that's why i switched from u-verse to xfinity. now i can download my dvr recordings and take them anywhere. ready or not, here i come! (whispers) now hide-and-seek time can also be catch-up-on-my-shows time. here i come! can't find you

report that some banks in shanghai will the longer accept chinese stocks as pledge collateral in order to borrow money to buy stocks. the high-tech stocks are the biggest performers for the year. jonathan: i sense this is what we are looking at now. what are we looking at here? what are the key metrics we should pay attention to? reporter: obviously, the economy and the yen., i think it is very important to china and high-tech companies. they become the leading indicator for the market. they are incurring many headwinds. companies are encouraged not to sell their stakes in these companies. the might be seeing heavy losses for this industry. jonathan: that is a fascinating story. thank you very much indeed. the data this morning is perplexing many people out of china. his credit card data looks great , but actually, china does not need more credit you could argue because they have a lot already. and they are probably more problems on top of what they already have. there is less foreign that because of the currency and therefore, they have an issue with domestic debt. is that a positive read? >> not at all. i'm not surprised by it

chinese president was in redmond. they were hosting part of it as a tech conference. joe: right. so, microsoft has--again, they've got more money at stake, it's a bigger deal for them, they've got a different model. but microsoft has worked hard to stay in the good graces of the chinese government. scott: google has always told them. does apple? i mean, apple's got a big business in china. does apple tell its users about state-sponsored hacking? joe: i don't know the answer to that. i looked mainly at internet companies, and there's been a slew quite recently. so, google was the first, yahoo!, facebook, and twitter all since october have said that they will start doing this. and 9 days after i called microsoft for a response to my story, they announced that they will start doing it. scott: joe menn, we thank you for doing that. as internet users, we thank you for doing that. we're jealous of your scoop, though. that's our show for this week. my thanks to my guests. i'm scott mcgrew, and thank you for making us part of your sunday morning. [music] announcer: "press:here" is sponso

chinese ceo. sir michael: and linkedin as well. emily: linkedin as well. what does it take for u.s. tech companies to succeed in china? michael: we try not to make the mistakes that we watched others make. so the first thing that you need to do is go there and admit you know nothing. you need to understand the market is different, and you definitely don't staff your company in china with people from america or europe. you also need to understand that there is a very different work ethic in china. people just happen to work a lot harder. so it's a whole new level of competition. emily: sequoia is very successful, but you have no women partners. what do you think your responsibility is there? sir michael: we think about it a lot. i like to think, and genuinely believe, that we are blind to somebody's sex, to their religion, to their background. we probably have more different nationalities working at sequoia than pretty much -- it's a very cosmopolitan setting. the fact that we have embraced china, we have embraced india, we have operated in israel for a long time, i think shows that. the real question i think that you

chinese economy. a lot of our companies in silicon valley and the bay area export a lot of products to china. so is this -- how are tech companies going to respond? are we going to see job cuts? >> this is the new normal. the chinese economy was clipping along at 10% a year building phenomenal cities and now they are going through challenges and change and are starting to do quantitative easing and the economy is projected to increase by 5%. we wish we were increasing by 5%. europe wishes they were increasing by 5%. >> so not as bad as people think. you'll be back in the next hour and we are going to talk about our retirement accounts, our 401ks, maybe what we should do. >> hopefully, good news. >> let's hear some good news. >> we'll see you in an hour. >>> time is 6:16. much of the northeast and the south bracing for a major winter storm now. expected to hit tomorrow. forecasters say winter storm jonas may drop a foot or more of snow in many areas. blizzard and winter storm watches in effect through sunday in several states. authorities say people should be ready for strong winds, a lot of snow and power outages. >> e

chinese consumer that's the one rescue. what's the contagion from the slower parts of the economy to the faster growing tech economies. >> certainly, haney, the yuan is tied to every part of the economy. it's dropped as much in the last six weeks as it did in august when we were talking about this crisis of confidence. on one hand, it makes exports cheaper rsh on the other hand, it moves cash from the country. how does that play out, and is it helping china as much as people here in the u.s. say it's hurting our exports? >> well, i can't comment directly, and i'm not an economist, but i do believe that the devaluation of the rnb will hurt the chinese economy longer term and will force the slowdown even further. right now we're talking about 5.5%, 6.5% growth. it may go lower than that. i mean, the positive side of people moving money out of the country is obviously you're seeing asset prices in places like the u.s., western u.s., and even parts of europe going up as chinese consumers buy hard assets. i think they've got to figure out a way to keep the confidence in the rnb intact in china. >> certainly not the last of the conversa

for certain sectors in the chinese economy that's a problem, but for consumer, tech, and services, stillchina is still importing oil at an increasing rate. the trend line still points straight up, where oil imports are stagnating everywhere else in the world. the problem from deflation has come from the central banks, particularly the fed, not from china. i spoke to george soros about this and he says a hard landing is actually inevitable. longe chinese left it too to address the changeover in the growth model they have to adopt domestic-led.t, a hard landing is practically unavoidable. >> this is something that you refute. i also led a panel discussion on china, gary: saying we need to figure out whether the chinese want a free market or not. obviously, has a long transition to make. the hard landing premise -- i wish i could say it in his accent. china has an enormous credit bubble that will lead to an worse amount of pain. -- an incredible amount of pain. we go over the books of every public traded chinese company, and we estimate the nonperforming loan rate among chinese banks. rumor

the ultimate game plan for the chine chinese and being a consumer of high tech products. by dominating us they can control us. and you may want to add to that. >> i was going to say there are two posessers that the harvard -- professors -- business review posted saying we will be the great innovators. let the chinese make the stuff but we will be the innovators. and they point out when you are weakening and offshoring your manufacturing and technilogical capabilities is weakening the industrial commons and the idea you will be the key innovators is a myth. the key innovators are the guys who make the stuff. the chinese have a particular policy of incentivising our corporations to transfer our technologies to them to be considered friends of china. if you want to do well on the chinese market you have to be a friend of china. we want more technology transfers here. but that is not the way trade is supposed to work. but it is the way it works here. our companies who are focused on shareholder value and the ceo's are tied to their own compensation to shareholder value so the

personally i think chinese all of the gains since the bubble began in 2014 much like the tech bubble 16 years ago which means it might have to go all the way down. something that will be hastened if they let it fall to their levels. at this point below 3,000, the market is now cheaper than the dow or the s&p 500 or the nasdaq not to mention the ftse in hon don and stoxx 600 in europe. it's cheaper now. if the shanghai composite goes below it would be selling at 1 times earnings. that's despite the fact that even if china's economy is slowing worse than we thought, say 3% and not the 5 or 6% there might be bargains but i wouldn't pick them. so here's the bottom line. if you think the shang high composite needs to return to the target is 2500 down about 15% but if you think the whole rally needs a 28% decline coming. there's still a lot of weak handed shareholders that need to be blowing out before we get a bottom. at all times i prefer our market to theirs even if it comes down further. if their market goes lower our market is going to go lower too. in tandem with theirs. bar a spike

private funding. 37 billioncord dollars into chinese startups last year, more than double the previous year's tally. bloomberg now are news's managers of tech in asia. peter l stremme. -- peter elstrom. china will be more innovative than silicon valley. is china really emerging as a legitimate challenger to silicon valley. >> it certainly is coming up with a lot of innovative companies. year.as a very strong venture investments tripled that year from the year before. investing venture really took off. the china situation was much different at the beginning of last year than it is now. the economy was quite strong and alibaba had just gone public. ipo, the shares went up. they thought china was the place to be looking. emily: that leads me to my next question, you have company's like xiaomi with a $45 billion valuation. our some of them overhyped just like we are seeing in the united states? >> that is a very good question. we saw the numbers in the fourth quarter that went down sharply from the third quarter. hardly because people were spooked by the chinese economy and certain sectors were overfunded. xiaomi was seen as the next alibaba, b

it depends on the product too because we did hear from the chinese firm whose shipments defy it jumping 44% in 2015 and others outside of tech reporting stellar sells in china as well. it's not always the slow down you can blame. it largely depends on the products as well. >> we talked about the massive moves in the equity markets this week. they're back above the 50 level. we also want to show you what gold is doing. all of these going into the assets given the geopolitical concerns we have this week but also concerns coming out of chi china. i want to move on and tell you about gold prices. sending chinese shares up by some .2%. 1,112 per ounce yesterday. it is on track to post a gain of almost 5%. that's the best weekly performance since january 2015. >> joining us is matthew turner. >> a lot of investors said gold lost it's safe haven appeal. this has proven us wrong, or no? >> it's interesting and gold sends to start the year quite well. we're approaching a peak demand season in china because of the new year but also we had a lot of bad years so a lot of speculators are very short. in fact the speculators were the short

chinese board game. we will hear from chris painter, the u.s. head of cyber issues. what policy changes washington has in store for big techthe only way to get better is to challenge yourself, and that's what we're doing at xfinity. we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20. it's our promise to you. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. emily: i am emily chang. this is "bloomberg west." a look at the stories making . sharp is stronger. they offer to buy $1.6 billion. sharp is facing a lower offer. facebook sword in extended trading after delivering another quarter of record sales. one and a half billion users logged on every month. about 80% of revenue came from mobile devices. video ison hours of watch on the site daily. consumer engagement with videos is growing. the fact that so much video is being concerned -- consider -- consumed on a platform. let's

chinese board game. we will hear from chris painter, the u.s. had of cyber issues. which policy changes washington has in store for big tech♪ oh remotes, you've had it tough. watching tvs get... ...sharper... ...bigger... ...smugger. and you? rubbery buttons. enter the x1 voice remote. now when someone says... show me funny movies. watch discovery. record this. voila. remotes, come out from the cushions, you are back! the x1 voice remote is here. emily: i am emily chang. this is "bloomberg west." a look at the stories making headlines across asia. the mirror -- japan's biggest brokerage is warning of irreversible damage if the boj allows the yen to appreciate. most economist do not see additional stimulus from the boj this week. tona is releasing -- agrees pursue a new resolution at the security council. working to resume nuclear talks with the north. china says it's attitude will not be swayed by specific events . emily: shareholders are expected to approve the sale of its agricultural business. the deal would bring $750 million which would be used to pay down debt. moody's and s&p have both cut nobles credit rating to ju