china is set to ask didi to delist over security fears.h regulators want the management to take the company off the new york stock exchange because of concerns about leaking sensitive data. we're told didi is being ordered to work at precise details, both under consideration. that is your first word news. coming up, we will dig deeper into what we know about the new variants with sam fazeli from bloomberg intelligence. that is next. this is bloomberg. ♪ ♪ tom: welcome back. this is bloomberg daybreak: europe. i'm tom mackenzie in london. risk off as investors weigh the implications of the new variant in southern africa. the actions of the government's of singapore, israel, taiwan restricting flights from africa and other nations, restrictions in place. this is playing out across the markets within the commodity space, for example. you're looking at losses between 2% and 3% into bti, iron or lower. the shift to havens, including treasuries, you're seeing that play out in terms of lower yields across the u.s. treasuries space. nine basis poi

david: our top story, didi being asked to get dealerships in the u.s.. the the new covid variant first detected in africa sending a wave of caution across global markets. is the fear more intense? let's bring in our managing editor, thanks for joining us. what seemingly was supposed to be a quiet day, how are you guys approaching the conversation? >> it completely ruined my friday, markets were starting to move on this. it is post-thanksgiving friday, this new variant, a bunch of emails and news stories, it feels like it was only 12 hours ago most of us had not heard of this. it's more the shock element, it's not that we have any substantial or concrete reason to know that this will be a material problem, but we also don't know enough to be complacent yet. it's a lack of knowledge making the markets very nervous. risk aversion across the board, across the board we are seeing risk aversion right now. david: do you think putting these two things together is just adding to these concerns, really? >> i think there's a couple of things. the story of the new v

we are told that didi has been told to work out precise details. bloomberg has learned that private equity giants kkr and cvc are being told to work together. meanwhile, a crucial meeting today. the chief executive of telecom italia has offered to resign to move along the kkr offer. dime is north east asia -- daimlers northeast asia chief is expecting a very positive year next year. sadie's bends sales and china slumped in the third quarter. the shortage of semiconductors is a factor. amazon -- a fresh legal challenge. amazon alleges 1.5 billion dollars was diverted away from indebted future retail including to a company owned by one of its founders. an investigation is being demanded. that is the bloomberg business flash. tom: laura wright in london. a significant selloff in european equities with news of the covid variant. let's get into how markets are reacting and how concerned investors should be. joining us now is kristine aquino and sam. let's start on the markets. and how the repricing is shaping up across equities, commodities, and affects

didi is interesting as well because authorities were furious when didi ignored recommendations from authoritiesahead with the ipo in june in new york and did not necessarily have the cybersecurity reviews necessary. they had their apps taken down from china and there is a new report. now that the property relaxation a little bit here and there, there is a report from reuters saying thatdidi might be getting their apps back up by the end of the year. they could be facing a fine, getting their apps back up his -- is a big reason for their sentiment being up. emily: that does it for this edition of bloomberg technology. tomorrow, we will be joined by the cfo of open-door. also the ceo of air table. i'm emily chang in san francisco. this is bloomberg. ♪ and there you have it. woah. wireless on the most reliable network nationwide. wow. big deal. we get unlimited for just 30 bucks. sweet. but mine has 5g included. relaaax people. my wireless is crushing it! that's because you all have xfinity mobile with your internet. it's wireless so good, it keeps one-upping itself. switch to xfinity mobile and g

. ♪ haidi: uber is poised to record a loss of $3 billion in its stake in didi.our global tech executive editor in san francisco. despite this, didi remains the most vulnerable equity stake for uber in its portfolio? >> you remember, this was uber's way of retaining away in china when it effectively got out of the country and called a truce with didi. it took a steak. so it wanted to have a way to remain exposed to what was there in a very important market for ride-hailing and still continues to be. but obviously things changed dramatically just after didi went public, when china started making changes in the way -- demanding changes in the way that didi operates along with so many other technology companies. so the strategy that uber engaged in of taking stakes in other regions, giving itself exposure to other markets through equity stakes is really being called into question right now as a result. sherry: ride-hailing was really hard hit the pandemic. how is uber doing right now? tom: we will get a good sense tomorrow. we saw a couple of days ago lyft reporting

getting those apps back up online is why there is a big boost to didi sentiment.at does it for this edition of bloomberg technology. join us tomorrow when we will be joined by open-door pot ceo. as well as the ceo of air table. i am emily chang in san francisco, this is bloomberg. ♪ >> the following is a paid program. the opinions expressed do not of -- reflect those of bloomberg lp. the following is a paid program for car shield that will show you how to save big money on your auto repair bills. all the stars are gathered to let you know about car shield, the new way you can protect yourself against costly auto repair bills. here's earnie hudson

to be identified through fingerprints. >> the killer did leave a clue, in the tape wrapped around didi's to us to be consistent with red duck to. >> that started gates in one direction, but he also look closely at the way deede's had been placed in that car. >> someone took great care to place her in dakar, and that indicated to us that someone cared deeply about her. >> part of this says professional and part of this says someone who knew her? >> that is exactly correct. >> but the suspicions that said professional, soon fell away in favor of those that said someone who knew her. not her children, but someone who had re-entered deede's life in the months before her death, her ex husband, when howard. do you ever think of him as dangerous? >> no. >> i never suspected that he would do something physical. >> but detective soon learn something had change in erwin howard in the months before, deede's murder. after the car and accident in january 2004, deede had invited erwin back into her life, to help care for her and her dogs. that request had apparently been misinterpreted by erwin, we kn

one of the worst hit groups of today's session and didi continues to feel that pressure. >> yeah. meantime, shifting gears to crypto, crypto not sitting out this sellout bitcoin down 8%, ether down 11%. kate rooney has more. >> the crypto selloff is similar to what's hitting tech, knee jerk reaction away from higher growth riskier assets. all of this is stemming from macro news of the covid variant. bitcoin tends to suffer when investors want to reduce relatively higher risk liquid positions, move into safe haven assets bitcoin is seen as a riskier asset. inflation and safe haven on bitcoin, not taking off quite yet. the largest crypto currency dropping $53,000 this morning, lowest level since october bitcoin off by 20% from an all-time high of 69,000 it hit in november. today, hitting bear market territory. since january, still up 80%. bitcoin is holding up better than some other coins. ether, in the red. also a flight from some so-called alt coins into bitcoin. analysts point to bitcoin becoming more mainstream as a result, more al dgorithms, and leverage, and finally $2.8 billi

didi has dismissed the report.haad: quick look at the markets, really instilling the fact that xi jinping is now president for life. at the moment, we have reports coming from the conference that xi jinping is the first marxist chinese official. tech companies did very well today. looking at japan, we have gdp figures out monday. the nikkei is up as we had to that one-hour-long moving is a handful. no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with special offers just for movers. really? yep! so while you handle that, you can keep your internet and all those shows you love, and save money while you're at it with special offers just for movers at xfinity.com/moving. rishaad: it is 9:30 in the evening in new york. wall street had a good day, tech stocks in particular, making themselves felt there, and that is clearly what we are seeing as well. haslinda: taking a look at property s

beijing has ordered didi to delist from the u.s.hey went ahead with an ipo despite official objections. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. ♪ >> it is easy for them to say if there is any kind of restriction in the economy we will just ease and ease aggressively. that workswhen you have inflatiu try to -- tom: we welcome all of you, kailey leinz and tom keene getting you through this. we have two research -- pieces of research. td securities goes the other way from jp morgan -- jp morgan and looks for oil higher, and then coming back shows you the disparity. kailey: you have on the one hand a call from 125 to 150 and on the other, 90. we are trending at a 67 handle and it goes down to the supply and demand dynamics and a matter of opec-plus and it spare capacity and what it will produce for oil hungry consumers. tom: and then to barry reynolds trying to look out in the next decade. george reaffirming at deuts

alibaba was below today, didi preparing to launch -- relaunch its chinese apps. talk about supply chains with kerry mok yvonne: we will look at the market opens in tokyo. japan having a decent start to the session, up about half -- .5% on the nikkei. the dollar and yen story helping things given the strength of the dollar. that is boosting equity markets and 10 year yields were pretty much flat, 10 year -- 10 -- seven basis points. let's watch how korea is playing out as we wrap up this week. there's been a lot of earnings in japan, more than one hundred 50 companies. we are seeing earnings in seoul as well. the korean one is light weakening -- the korean won slight weakening. paul: for the second day in the row, the materials sector is leading the way. the big minors performing well -- miners performing well, or to skew metal, bhp group also in higher -- fortescue metal, bhp group. the aussie dollar continues to slip below $.73 u.s. and new zealand also in negative territory. off by almost .23% -- yvonne: what's look at the treasury as they open in japan. the yi

you mentioned the didi stake uber took a $3 billion plus write down on that stake and also focused on that competition with doordash, julia the recovery is going to be bumpier for them than perhaps a lyft and it's amazing to see those valuations between the two of those narrowing a bit over the last 18 months >> but i think that was one of the things that was such a big surprise here, deidre. we shouldn't be surprised that as the economy reopens people get out there, yes, travel is going to be increasing in terms of uber mobility but the fact that uber eats and the fact that people still want to order things continues and continues to grow despite the fact that people are spending more time out and about. i think that's really notable and that shows that maybe people have been converted to new behavior whether ordering groceries or ordering food, deidre >> some of those habits sticking but also i meant to mention that adjusted ebitda profitability, too. lyft getting to that point faster and meantime as carl said earlier, lots of earnings to get to let's get to drop box. shares falling

. >> and then finally, what to do about didi, dara do you hold on to didi do you not what itself thee ride sharing space as a space that has a on the of growth ahead of it. you certainly see it in our business as far as how it's coming back, the pace at which it's coming back the mar jens you like to arn. we like the category i think the issue with didi, are they going to be a government entity or not, when you take a ride, is the chinese government going to know where you are, et cetera i think that's a difficult issue that anyone, non-chinese has to wrestle with as far as an investment goes for us, we're not fund managers. so didi is a big stake that we have on our books. we have plenty of cash we have a very, very strong balance sheet. we're now moving into profitability territory. so over a period of time, i would anticipate we monetize that stake but we are not in no hurry over another. >> dara cost khosroshahi, alwayd to see you >> thank you >>> coming up, covid cut the risk of hospitalization or debt by 89% the former commissioner dr. scott gottlieb will join us. then loews ho

tom: i want to get your views on didi.re was some reporting suggesting that maybe it will be delisted from the u.s. and could be taken over by state backed firms. i wonder what message you think that sends to investors and if you are concerned about that messaging? fred: in general, we say the chinese government is still set for the transformation of [indiscernible] at the same time, there is heightened concern over security . i expect the company will be in close concentration to overhaul -- to address the concerns. that will take some time. i am cautiously optimistic. dani: i know you are bullish on the chinese economy but does the presence and continued new variants, does that threaten your view at all? fred: absolutely. after starting strong this year, and we know the economy hit a tough patch in the second quarter, [indiscernible] the government response has been nothing short of draconian. zero covid policy. with the new variant, on the one hand, the china strategy could be to protect the country but on the other han

it made a loss of $2.1; billion after a slump in the value of its investment in chinese taxi firm didi the corner, after years of eye—watering losses? rebecca crook is from the digital experience agency somo global. rebecca, great to talk to you. do you think it is on course to deliver its promises of turning a profit by the end of the year? they seem to be edging forward slowly. what was interesting if you dig into the detail of the numbers, theirfood businesses numbers, their food businesses actually numbers, theirfood businesses actually nowjust breaking even which is a dramatic increase from where they were one year ago. i guess, the interesting fact on that is that while it does make up a huge part of their business, it is actually their business, it is actually the right hailing the urban is famous for that it actually makes the most profit from. —— uber. as you said, they suffered during the pandemic, so is that side of the business, right hailing, is that back on track? is it getting that way? obviously, as we have come out of lockdown, seen restrictions lifting in different co

the objects for this experiment are double ashtray, didi most a half mile in length. and it's moonlit time warfare which measures about 160 meters long or 525 feet is roughly the height of the washington monument by comparison, the asteroid that wiped out the dinosaurs measured about 10 kilometers or 6 miles wide. it is correct that, that dim or force and did a most or gravitationally bound to each other or over to each other. and so that went ard, it's due more force and changes its motion. there's also going to be a tug on data most on the dark spacecraft arrives in late september early october of next year. ill use a ton of navigation software to deliberately crash itself into mil that day. more fist at a speed about 6.6 kilometers per 2nd. dart mission systems engineer ileana adams says this asteroid has to be fairly close to earth. the good news is that nasa can stream data back to earth before hitting the asteroid when we approach it. it has to be at such an angle that it gets lit by the sun because we will and see if it's the asteroids really dark. we won't be

a loss of more than $3 billion on the stake in didi global for uber.have plummeted since chinese regulators ordered the app to be removed from stores in the home market, citing security risks. land development paying $6.5 billion for a prime plot along victoria harbour in hong kong, including mixed-use buildings and outdoor areas. for the first time, the government looked at design and price before awarding the site. the tender comes as hong kong's market struggles with demand and rent. that will do it for "bloomberg daybreak: australia." daybreak: asia is next. we see the aussie dollar holding steady into the start of trading of equities in sydney. this is bloomberg. ♪ >> a good morning. we are counting down to major market opens. >> welcome to "daybreak: asia." u.s. stocks extend record highs, the bond curve steepen's, after the fed is in no rush to raise rates. a geopolitical showdown, as washington demands loyalty keep a lid on inflation.

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what didy they know about the steele dossier?oint, sean, and you you will remember this, harry reid, former senateno leader, democrat in august 2016, he knew about the dossier.em of so it is unlikely that others didn't know about the dossier at that time either. >> sean: thank you both. straight ahead her own sara carter joins us in ou texas where she spoke with a rancher about the cartel violence inside the u.s. it is happening on our soil of arizona with reaction. ♪ ♪ >> sean: now more in the exclusive interview at the southern border and sara carter spoke to a rancher about increasing cartel violence on our side of the border stemming from biden's border neglect, sarah. >> sean, you have been hearing for the past several days on ride along with texas dps conducting operations to capture people illegally trespassing onto ranches. these are not just ranches, sean, and you think of big, sprawling ranches. these are actually family ranches, there are people that live here for generations. their children to live there, darrell wive

he says he can't second more water out when he first came in and didi the remediation. he took a 50 gallons of water. and this is a concrete slab with a very thin carpet on top of it. so there was a lot of water that he got out. >> i know that's no old is no fun. >> now. it's not. it's the gift that keeps on giving. because the reigning stop and we had a good amount yesterday. we've got more in the forecast. we'll get to that in a second. the good news is from the rain. >> fire season is pretty much over yeah. you called it back when we have had big said, well, that that's got to mean the end of fire it right. they didn't go my mind and we had to wait for the official where they actually had to go out, make sure things work still there and sure enough, santa rosa fire department says yeah, wildfire season is over in their eyes. so that's good news. but obviously they want everybody to stay vigilant. it's it's a double edged sword because when we get big rain like this that reason to fire season. if we keep getting big rain like this, then the story becomes. >> all the v

didi infuriated beijing over the summer when it proceeded a new york stock exchange offering despite makers bracing for the most significant expansion of government regulation of drug prices in decades. last week the house passing president biden's build back better bill and in that it requires the government to negotiate prices for some older, high cost medicines covered by medicare. the bill also caps annual drug price increases at the rate of inflation. so far, the pharmaceutical industry has not pushed back -- pushed to stop the bill's passage. it heads to the senate next week. time now for the word on wall street, top investors watching your money this morning. welcome, joel's been here already for the last hour. joel shulman, lindsey piegza and rose cliff capital ceo and managing partner mike murphy. mike, let me kick it off with you. happy thanksgiving, dear sir. futures unfortunately are plunging this morning amid the covid variant fears, dow futures are down almost 800 points, more than 2% as world health organization holds a special meeting to discuss the new covid strain d

crackdown in china on the tech scene started at the beginning of last quarter with their probe on didi you see on their screen. the portfolio has been absolutely decimated. david: it lowers the bar for estimates, right? just some context. great staff, thank you. just have a look at other stocks reporting today, toshiba, yamaha. heading into the lunch break, the return of the carry is in focus when you look at where moving is a handful. no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with special offers just for movers. really? yep! so while you handle that, you can keep your internet and all those shows you love, and save money while you're at it with special offers just for movers at xfinity.com/moving. david: welcome back to the show. we are one hour into the chinese session. just a couple of stocks we are tracking. you might have already seen the pronouncement from this company, haidilao, that has come under tremendous pressure. hotpot is not someth

china's share of didi are down, listed hire, remember, not covering itself in glories in terms of theers' decision to bring this thing public new regulations for the not a whole lot of the year to date losses. let's get to the cnbc headquarters >> see, mike, much of the risk aversion trade playing out in markets has hit the crypto markets and for many reasons but one has been the motion that, for the past several months, there's been a growing hedge. the notion that if you can have regime of possibly higher inflation down the line, could crypto currency be a way for you to insure yourself against some of the particular threats? that's been part of the story for the rise in bitcoin to the record high prices if the inflation threat is not that great because of a new variant for covid. then some of the narrative goes away that's part of the story behind why you're seeing the weakness by the way, that's off session lows we've seen a bit of a bounce for bit drz coin ether prices down right now. of the other altcoins, so to speak, are falling as well we're 20% or so below the record highs.

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they also have to write off part of their stake in didi, which was another chinese disaster, and so thatl be another count against them so i don't expect a great number out of uber this week. so to speak, but i think the outlook is going to be very bright for a lot of the same reasons that were cited by lyft. so that's the name that i'm in i do think the trend is higher for both delivery and ride share, and uber is going to have a lot more to say on that subject so i'll be listening >> including more drivers which lyft saw, which is always helpful. zillow plunging today after posting a big quarterly miss, both on the top and bottom lines. also announcing plans officially to exit the home buying business because of an inability to accurately predict prices. the company reported a pre-tax loss of $422 million in its home segment. said it would lay off 25% of its workforce. remember, ceo rich barton joined our show yesterday right after that news broke to discuss the decision >> now, we have seen a growth rate, an acceleration rate in the housing market that we never witnessed before in his

this was mostly driven by a drop in value of the holding in chinese right service didi, revenue is uplast year and the company saying consumers and drivers rushed to platform in greater numbers last quarter. uber slightly down this morning. air b and b profits are soaring, profits rose 280%. the surge coming as the economy continues to recover from the effects of covid-19 and we have seen big increase in travel. more than 79.7 million nights and experiences were booked in a quarter. jump of 29% year over year. there's air b&b in the premarket. stock is up almost 6% right now. finally this, turn of events for sky divers in south africa as plane lost control and they were about to jump out. one sky diver shows the video the aircraft stalls and loses control and luckily the aircraft had 5 sky divers on board was able to recover. all of those who jumped did land safely, maria. reason number 55i will never sky dive ever in my life. [laughter] maria: 55, cheryl that was good. okay, i'm glad that everybody is safe. wow, thank you so much cheryl casone. white house deputy secretary walking ba