daniel zhang will become executive chairman exactly a year from now.od is aimed at a smooth transition. jack ma was previously an english teacher. he has since seen alibaba become huge. he will remain director until its annual shareholder meeting in 2020 topjack annual shareholder meeting in 2020 top jack mahrez said annual shareholder meeting in 2020 topjack mahrez said that daniel zhang has shown superb talent. he has been with alibaba for ii zhang has shown superb talent. he has been with alibaba for 11 years. alibaba listed has been with alibaba for 11 years. aliba ba listed in has been with alibaba for 11 years. alibaba listed in new york in 2015, in what was then the biggest public shareholding. thank you. around the world, a boom in construction is driving up demand for builders. men still make up the majority of workers in the trades but a growing movement is calling for more women to fill these well—paid skilled posts. let's take a look. i just turned six and i like to sing. i like tojog and i like to build. i want to be an architect and make,

current aliba ba ceo daniel zhang tax for these guys are.chairman, seen as a safe choice as the architect of the annual singles discount spree, becoming the largest online shopping frenzy on the planet. but in terms of recognition, he has enormous shoes to fill. jack ma is one of the most famous chinese people alive today. the one—time english teacher rode the wave of china's growing middle—class affluence. he has never written a line of computer code, but in the late 1990s along with 18 friends, started what would become the internet shopping giant taobao. then they developed an online payment system, for a country where few people had credit cards. is hard to imagine the chinese business landscape without jack ma, not that he is disappearing altogether. a figure who has come to represent all thatis figure who has come to represent all that is possible in chinese capitalism says that he will focus on philanthropy and education initiatives. stephen macdonald, bbc news, beijing. we know shares alibaba were down, they and other top firms have

daniel jang -- daniel zhang will take over a more than $400 billion institution. ts to ensure the company can run based on institutional structure rather than relying on individuals. daniel joins alibaba in 2007. he was responsible for china's largest shopping bonanza. ma will remain on the board until 2020 and stay as a lifetime partner at the company. emily: to dig deeper into the changes at alibaba, we're joined by our reporters. jack ma hasn't been involved in day too day operations for some -- day-to-day operations for some time. but he certainly still looms large at the company. we went to china a few years ago and interviewed him on singles day. kevin what do you make of him exiting now what it means for alibaba? jack: he's not exiting the company but exiting one particular role, doing in it a methodical way, it's been talked about and broadcast. it's new information but it's not news. he stepped down from c.e.o. role several years ago. and now he's making it more formal. the timeline for handing over the chairmanship, but he handed over the c.e.o. role many

and daniel zhang will have pretty broad power as c.e.o.hairman, a position that han been consolidated since 201. they want overseas expansion, want to rely on exertainment and cloud computing. i think jack ma will devote time to philanthropy but always be a presence at alibaba. emily: how do you see this, the chinese government is shaping new regulation on gaming and you never know where the chinese government is going to come and try to impact your business next. kevin: sure. i think the gaming situation has a acted tencet more from fundamental standpoint. china will be part of the story. coming from a different place than we came from in terms of management of their country. i think there's risk involved. in terms of competition, jd.com, which has been in the news for other corporate governance reasons, corporate governance related reason this is week, they're a player a meaningful player, but alibaba continues to ave the dominant market share. you have an app-based version of ecommerce that's take then third market share. but the thing

so a lot of analysts say daniel zhang has big shoes to fill and some of the analysts describe zhang tonager, cautious but one who doesn't crave the limelight so perhaps to ease investor's fears, jack ma addressed that question in his letter saying the one thing i can promise everyone is this, alibaba was never about jama, but jack ma will forever belong to alibaba analysts also here have been speculating now about what will happen next to the vice chairman he's an international face for alibaba. he's been on our network talking to you guys many times but he didn't get the top job so people are questioning when joe tsai might be phased out and are saying they will be watching closely how the management develops over the next 12 to 24 months guys >> eunice, interesting the point you make about zhang and how he's not an outgoing guy in the media and you think of jack ma and you think of the times he dressed up and danced like michael jackson. very different characters. jack ma is still the third-largest shareholder, correct? he will still be part of the alibaba partnership which is -- som

daniel zhang is his successor. ma will be on the board until the annual shareholder meeting in 2020. joining us, jeff richards. ggb was an early backer of alibaba back in 2003 jeff, great to have you. when i first saw this news and understood it better as far as succession planning, i wonder is this about politics as much as business, not having one person in this current environment that's too closely tied to alibaba's brand or what is it really about >> well, i think people in the u.s. think of alibaba as synonymous with jack, and certainly he is the face of the company for many years, is the founder, one of the founders of the company. the reality is daniel zhang has been running it. jack stepped down as ceo in 2013 there's a fantastic management team in place at the company i know a lot of your audience may attend earnings calls alibaba puts on, often run by the company cfo and daniel a fantastic team around jack at the company. he honestly hasn't been running the company day to day for many years. i think for

david: what do we know about daniel zhang. >> he is a dark horse year.and him who succeeded jack ma as ceo in 2013. this, he came out of -- as rising star the company who really was able to execute all the visions that jack ma had for the new developments in the company. for example, the new retail business that alibaba is now making inroads into and a light of the new initiatives, such as they grocery, smart grocery stores. that is all daniel zhang's doing. he is taking the company to the neck level. rishaad: thank you for that. . to raise llao looking $963 million. it is known for customer service. david: toyota says it is planning to resume productions in hokkaido, which was halted by last week's earthquake. affected vehicle making across the country. output at all 16 plans were --ted temporarily as temporarily, but power has now been restored. hit by achina could be change in market sentiment in the event of an all-out trade war with the united states. central bank a letter telling bloomberg investors they could be getting nervous. >> how much does t

he will hand the reins to ceo daniel zhang and he joined them in 2007. he has several different hats. he is the fceo taubau and he was coo. a heo been credited with making alibaba's single day shopping festival the big bonanza it is today. in his letter to shareholders, customers and others, ma praised zhang and said he holds dear alibaba's mission. the big question is what is alibaba without jack ma. ma is the visionary ofal aba. he's a big think guy. he's the elder states man of the company but also the entire chinese tech scene.e analysts h been describing zhang as a solid manager, cautious and doesn't want the limelight. he has big shoes to fill. ma addressed that question in hisetter saying the o thing i can promise everyone is this, alibaba was never about jack ma but jack ma will forever belong to alibaba. for "nightly business report," i'm eunice yoon in beijing. >>> it is time to tak a look at some of today's upgrades and downgrades. dow component united health was downgraded toro neutral buy at citi. the analyst cites concerns about the commerc

daniel zhang, who's described as a free and unfettered spirit, will be taking over at the e—commerceadding a splash of colour to their front page, as a horticultural story hits the headlines. they spotted these flowering trees in singapore. they're calling them a home—grown version of japan's famous cherry blossoms. and the new york times takes a peak at an exhibition that really deserves the name, underground art. these alien styled domes are on top of helsinki's newest museum. so people can look—down on some high—brow art. that brings you up—to—date with some of the papers of. —— in the papers. a wildlife monitoring group says it has found more than 1,500 listings on facebook of live animals for sale in thailand, some of them endangered. the group, traffic, said 200 different species were listed for sale on facebook pages, many of which were not protected by thai law because they were not native to the country. a spokeswoman for facebook said it did not allow the trade of endangered species and removed such material as soon as possible. elizabeth john is senior communications offic

daniel zhang, who's described as a free and unfettered spirit, will be taking over at the e—commerce splash of colour to their front page, as a horticultural story hits the headlines. they spotted these flowering trees in singapore. they're calling them a home—grown version of japan's famous cherry blossoms. and the new york times takes a peak at an exhibition that really deserves the name, underground art. these alien—styled domes are on top of helsinki's newest museum. it's so people can look down on some high—brow art. that on some high—brow art. brings you up to date with of that brings you up to date with some of the papers and. —— that brings you up to date with some of the papers. now, what stories are sparking discussions online? yes, let's looks at what is trending right now. this video of a car chase through an airport has been grabbing people's attention. the driver decided to take a spin on the tarmac in a bid to escape the police. it resulted in one of the biggest airports in france being closed. but the chase came to an end when the suspect tried to flee on foot. they w

and the winner is daniel zhang, currently chief executive at the company and he has been there for aroundcommerce site but now it is an entertainment hub and also additional payment service. well mr ma is one of the richest men in china are worth $6 billion and table remain as director of the board until 2020. the online giant is one of the most valuable companies in the world. last month —— last march they recorded revenue of $40 billion. mr ma on his 54th birthday explained his exit strategy ina birthday explained his exit strategy in a letter and said that the world is big and i'm still young so i want to try new things. he was previously an english teacher, he likes to perform, he performed in fact as michaeljackson in front of his employees last year. so he is going to go back to education and focus as well on his beloved tropical africa. i like that line, the world is big and i'm still young. a mixed picture today in asia, japan bucking the trend but most markets lower. tokyo getting away with it but elsewhere heavy losses mainly because of concerns about the ratcheting up of the rh

he's succeeded by current ceo daniel zhang the move is meant to foster long-term growth and reduce theendence on any one person ma will remain on the board all the way until 2020 >>> hurricane florence is on track to hit the east coast later on this week they say it could hit the coast on thursday as a category 3 storm or higher. the governors of virginia and south carolina have already declared a state of emergency. today is the peak day. >>> in china, trade surplus with the u.s. hit $31 billion in august, up from 28 billion in july china a he china's exports accelerated which targeted $50 billion so far and 50 billion in chinese exports. meantime, china's imports from the united states grew 2.7%. that's a slowdown from the 11% growth that was posted in july i don't know what eamon is going to talk about. go to washington for a wrapup with the big political stories and a look at the week ahead wasn't a slow weekend, i guess, eamon. given what the news cycle, it seems like not quite as earth shattering as some of the previous weekends. >> just a torrent of news over the weekend, not th

on and complete his term as an alibaba board member until the agf in 2020 as for his successor, daniel zhangthe company for a while. he's been with cow bell and in his letters to shareholders, ma praised zhang for his analytical mind he holds dear his mission and his big question for investors as it would be for any company that has a dominant personality and founder like jack ma is what is the company now and the future without jack ma ma is the visionary behind alibaba. he's seen as the elder states man, not only of the country but of the chinese tech scene in general. today jack ma's departure was one of the most talked about and people are praising him as a legend to ease investors' concerns ma addressed that in his letter saying alibaba was never about jack ma but jack ma will forever belong to alibaba. >> thank you very much >>> google will appear before europe's top court tomorrow and the outcome could have major implications for tech companies around the world google is appealing to search. it's a power beyond their own board. google did not attend hearings here on privacy in the u.s

i spent the whole day really thinking about the possibilities with jack ma and daniel zhang, we see possibilities this partnership move beyond china into other markets, like southeast asia? >> certainly >> where alibaba has been trying to build presence? >> certainly we also help alibaba because s.a.p., as you know, is the most global business offer company in the world, located in 193 countries with 400,000 major companies running on our platform so i think we bring a lot of credibility and know how to the alibaba franchise and to the customers of alibaba if you think about the stack of the silicon to the data into the process, the way things are done, the experience economy, the way customers expect a world class experience, employees, the way you have to inspire them to take care of what's going on outside their building, not necessarily what's going on inside their building so much, plus the business networks where companies are doing business with each other in the cloud, all of that and more is now possible i absolutely agree with you that in this region of the world this is likely to be a

jack ma will step down one year from now and be replaced by current ceo daniel zhang. matt rivers looks at how far ma has come and where he might go from here. >> reporter: jack ma, one of china's rich est men, a giant in tech, a man who has stood side by side with presidents, loves kung fu nafls, always has, he said they teach valuable lessons. >> whatever you want to be, a great people, a great company, you have to work very hard. you have to suffer a lot of, you know, terrible things before you be a hero. it's spiritual. think out of box. you have to think out of box to win. >> reporter: and win he has. it's been 19 years since he cofounded alibaba and the company that began in the hung jo china apartment has grown into one of the largest internet companies in the world. in 2014 alibaba's $25 billion ipo was then the largest in u.s. history. and financial, the company's finance subsidiary has invested billions of dollars in companies around the globe. alibaba's e-commerce sites have fundamentally changed the way hundreds of millions of people shop in china and its m

the company says jack ma will depart one year from now and be replaced by current ceo daniel zhang.rectors until the shareholder meeting in 2020. he is a true rags to riches story born to a poor family. he grew ali baba from a web page run out of his apartment to a $420 billion company. ma himself is worth about $40 billion, one of the rich est men in china. >>> the arizona cardinals nfl team honored the late senator john mccain sunday. the arizona senator's wife cindy was made honorary captain of the team for its game against the washington redskins. mrs. mccain's duties included participating in the coin toss to start the game. afterward she tweeted her thanks to the team, writing, support for our family has been overwhelming. we are going to keep fighting for the america john believed in. >>> and thank you so much for joining us. i'm rosemary church. i'll be back with another hour of news in just a moment. you're watching cnn. do stay with us. here we go. discover. i like your card, but i'm absolutely not paying an annual fee. discover has no annual fees. really? yeah. we just do

he will hand over to daniel zhang, the first transition of its kind for any of china's major tech firmssucceeding —— he was a former english teacher. the stock is down on the use of his departure but i think investors will be confident in his replacement. daniel zang has been at the firm many years and he is achievement was to come up with the single stake stab again set, day in china where people who are single celebrate that fact —— singles day. it is celebrated more than black friday and cyber monday combine. it isa friday and cyber monday combine. it is a massive draw and he is the man who will be eventually becoming the chairman of the year today. he will ta ke chairman of the year today. he will take over from jack ma. the changing of the guard of honour china's most well known and much loved entrepreneurs, a household name, synonymous with alibaba, he started it 20 years ago now, because he could not buy chinese beer online. it has come along way since then! cynthia nixon is still best known for playing miranda in sex and the city — but this thursday she's hoping to become the de

to hand outlined plans over his title as daniel zhang. ma will leave the job a year from now.nder ma plans to focus on philanthropy and education. agreed to an all stock deal. provides consulting services and a number of fields, including security, energy, and infrastructure. good news for elon musk. spacex successfully launched a satellite. the falcon nine rocket lifted off early today. it was spacex's 16th mission this year. the satellite would expand communications services in asia, australia, and new zealand. alix: was it really about elon musk or about the ceo who really runs the company? just putting that out there. -- the fed would raise rates and prep for a lot of fed speak this week. we have members discussing the economy, with rosengren saying he expects 2% gdp in the second half of the year. still with us is kathryn rooney vera of bulltick capital markets. if you look at the trajectory the fed is sticking to, regardless of the overall macro picture globally, how do you buy em into that? kathryn: the market is already pricing in for total hikes, so to more rate hikes

jack ma has outlined plans to hand his title over to daniel zhang who spent three years as ceo and presided. mom will leave a year from now. the cofounder plans to focus on philanthropy and education. longtime cbs president les moonves is stepping down after new allegations of sexual harassment. moonves called the claims untrue and said he is saddened to be leaving the company after two decades. chief operating officer, joseph ianniello, will be his interim successor. cbs has ended a legal fight with its largest shareholder, redstone amusements. six board members will step down. the former head of china's central bank is warning of the market impact of a trade war. zhou xiaochuan tells bloomberg new tariffs could have a huge impact on sentiment in china. >> people may become nervous because nobody knows, suddenly, there is a trade war and they may change their mind in terms of stock market investment. taylor: president trump says he is willing to tax all chinese imports at short notice. italy's deputy prime minister, matteo salvini, says he will try to keep the budget within european union

mr ma, one of china‘s richest men, will hand over the reins to daniel zhang, currently chief executives find cutting back on alcohol far harder than eating healthily or exercising. the yougov study also says they‘re more likely than other age groups to drink more than the recommended 1a units a week. a public health england campaign is urging people between the ages of 45 and 65 to have regular "drink—free" days. the duke and duthcess of sussex are to make their first major overseas tour as couple on a visit to the pacific region in october. the couple will spend 16 days travelling around australia, fiji, tonga and new zealand, and are expected to attend the 2018 invictus games in sydney — which were created by prince harry. some sunshine across southern parts of england, feeling quite warm again this afternoon. for many of us, typical british weather with the area and the wind is coming from the west. look at the cloud from the mid—atlantic all west. look at the cloud from the mid—atla ntic all the way west. look at the cloud from the mid—atlantic all the way to the united kingdom. fo