emily chang is in beijing with this report. ily: we are here at the water cube, the olympic venue where michael phelps won eight gold medals. this is where alibaba is kicking off singles day, the biggest shopping day of the year. it dwarfs cyber monday, black friday. last year, $9 billion in transactions were conducted on alibaba's platform. this is a day they invented to encourage shoppers to go out and buy for themselves. we are seeing more international brands participating this year, including apple, burberry, costco, macy's. the majority of the buyers on this holiday are still right here in china. i will be sitting down with jack ma, chairman and founder of alibaba, to talk with him about his vision for the future of the company, his strategy for international expansion, and how he thinks this singles day will go down in the record books. cory: emily will sit down with jack ma tomorrow morning at 9:30 eastern. speaking of singles day, xiaomi is selling up to sell 2 million phones tomorrow. $45 billion profit valuation. by s

cory: i am cory johnson, in for emily chang. coming up, emily sits down for an interview with one of the top executives of xiaomi. apple shares drop after wall street analysts say there is weak demand for the latest iphone. t-mobile betting that free video streaming will drive user growth. will the move hurt more than it helps? hourly bottom betting that -- shopathon will reverse a plunge in market capital. ma will answer the call for national champions in technology. emily chang is in beijing with this report. emily: we are here at the water cube, the olympic venue where michael phelps won 8 gold medals. is kickingre alibaba off single day, the biggest shopping day of the year. it dwarfs cyber monday, black friday. last year, $9 billion were conducted in transactions on alibaba's platform. this is a day they invented to encourage shoppers to go out and buy for themselves. we are seeing more international brands participating this year, including apple, costco, macy's. on majority of the buyers this holiday are still right here i

i am cory johnson in for emily chang. coming up, emily sits down with jack ma to talk tech bubbles and competing with amazon. is bigger really better? the new ipad pro. with rising costs and shrinking tax credits, is the son ready to set on the u.s. solar energy? singles day has become the shopping day. emily chang sat down with ma in beijing to discuss the future of alibaba. >> it is the day we want all the manufacturers, all of the shop owners. we want consumers to have a wonderful day. event itself, the meaning of it is getting such great excitement in china. emily: you said you wanted it to be a global holiday. what is the timeline for that? jack: everything we do, we have a 10 year plan. 2004 -- we judge how much we should do, what we should do to realize our dream. our plan is that in 10 years, we will reach 50% of the revenues. emily: you and i last spoke about ipo day and it has been a bit of a roller coaster for the stock. now it is barely above its ipo price. how do you explain this love-hate relationship invest

cory: that was emily chang and michael evans.igantic new ipad goes on sale today and sam grobart got his hands on the ipad pro. both hands. ♪ sam: this is the new ipad pro. it has a brilliant 12.9 inch display, weighs 1.5 pounds, and can be used with a keyboard and stylus. none of those details outshine the simple fact that this thing is huge. ♪ this may be hard to convey in a video, but get your hands on a and the size is almost overwhelming. the larger display means you can enjoy even bigger videos and draw and markup on bigger pages. it changes the idea of an ipad from being a sophisticated viewing device to becoming a much larger digital canvas onto which you can express your imagination. at least that seems to be the intention. the thing is, i do not know about you, but i use my standard sized ipad for a handful of things. watching movies, reading stuff online. in a pinch, i have used it to write stuff. when i get down to business, i go to my macbook air. in an attempt to bridge the gap, the pro can be equipped with the smar

we have emily chang. first of all, give us the scorecard. it was a record-breaking day for alibaba. y: hey, vonnie. we are inside the water tube, that iconic olympic venue, watching the numbers come in. alibaba is at $11.5 billion in transactions, transacted on the platform so far. we still have six more hours to go. are the way above the $9 billion record hit last year. they are also telling us that more than 70% of this e-commerce is coming from mobile. 70% are happening on smartphones -- and that is a good sign of how they are weathering the transition. we are in beijing, on what they are calling a global event. a lot more i international brands. vonnie: this idea of having a basic beijing -- how do the chinese respond advertising? beijingook, we are in because this is the financial center of china, the capital of china. alibaba certainly wants to raise the pro while of this event. ist alibaba has been doing working hard to get merchants across china on the platform, but also international merchants like apple, costco, burberry -- chinese people want iphones and they are very aske

♪ emily chang: by now, you know his story.he kid who started the social network in his harvard dorm room, grew it to 1.4 billion users, and became one of the wealthiest men in the world. but mark zuckerberg may not be done changing the world just yet. since taking facebook public, his bets have only gotten bigger, spending billions expanding his empire into photos, messaging, even virtual reality. internet.org may be his most audacious bet yet. featuring an epic battle with google, drones, lasers, and stratospheric hot air balloons to bring the internet to the farthest corners of the earth -- and win billions of new users in the process. our guest today on this special edition of "studio 1.0" is facebook founder and ceo mark zuckerberg. so first of all, you are a year and a half into this now. tell me your vision. and tell me what inspired you to do this. mark zuckerberg: when people are connected, we can just do some great things. and we have the opportunity to get access to jobs, education, health, new kinds of communication

emily: how is your interest playing out in your investment philosophy? steve: the way we engineer things is changinghing that we think of as engineering to what we think of as more like growing and iterating a solution very rapidly. emily: what do you mean? steve: you can build a brain and a box. that same program could recognize anything on the internet or could recognize speech or be used to try to find tumors and mammograms or other radiology slides. the generic learning the scenes can now be applied to many different things and you do not actually know how it works when it is done. just like we do not know how the brain works. emily: could these computers someday take over the world? steve: yes, but why? emily: they become smarter than us. steve: to what end? we would not know that we are pets. we would wake up and they would figure out how to do a fusion reactor. imagine the gap between us and our pets. the cat thinks it's a fierce hunter, but it lives in the house. i think it would be similar. we would not even know. cordialtelligence and -- total revolution, means less violent. why would they

emily: i am emily chang and this is "bloomberg west." coming up, alibaba founder jack ma is in talks to buy a stake in one of asia's most venerable newspapers. plus, high-speed internet access means no day of rest for holiday shoppers. cyber monday to sunday. and hewlett-packard has stand-alone results tomorrow. we will preview the numbers for hp enterprise and hp queue. first, to our lead. jack ma is in talks to buy a newspaper. he would be following in the footsteps of other tech executives getting a foot in the media business. there is jeff bezos, who bought a stake in the wall street journal, and chris hughes, who bought a majority stake in the new republic in 2012. i asked jack ma about this earlier this month. take a listen. for my have to care shareholders and our strategy. emily: would something like that make sense? jack: yes, i think. we invested in we bow -- we online media. we invested in sony because internety that destroyed the off-line retail business. we say well, if you can do better and we work together, we can do bette

i am emily chang. this is "bloomberg west." coming up, cyber monday sales surge. targeting neiman marcus and even paypal. plus, amazon reveals a new drone prototype for its planned 30-minute delivery service and here is the man behind $30 billion startups. first, what is shaping up to be a record-breaking day for online shopping. sales this cyber monday expected event hit $3 billion, capping weekend,sive holiday consumer spending $8 billion online. this morning, target's website was overwhelmed by demand and shoppers were greeted with this message, apologizing for delays. at the impacting paypal. neiman marcus, it's website crashed twice and was down almost all friday. joining us now, shannon pettypiece, our correspondent -- .ontributor i was one of the shoppers who tried to buy something from neiman marcus on friday. i did not go back. break it down for us. what went wrong? at target, the company says that they got twice as much traffic today as in their previous record, which was on black friday, so just a surge in demand. it'surse, these days, 2015, companies a

we will go to emily chang in with jack ma for the latest. emily: thank you so much.s on bloomberg radio. jack ma, great to see you again, thanks for doing this. you blew through last year singles record in half the time but i'm curious, how does this compare to a typical day at alibaba? jack: compared to the typical day? are looking at 13.6 billion right now, what does it look like on an average wednesday? jack: nominally, we have close to one billion something. maybe a little more. this thing we have been preparing for more than three months, preparing for the supply, the buyers, promotions. a lot of things.

not much has changed for us. emilyd a role in the formation of calico, google's efforts to extend our lifespan. what are some concrete examples of progress there and opportunities you see to extend our lives? bill: the opportunity in the life sciences is hard to understate. the change we will see between now and the next 20 years is going to be similar to what we have seen happen in communications over the last 20 years. you can talk to anyone, anywhere, anytime for free. 20 years ago, you would write a letter. that is a pretty big change. we could see a similar change in health care. i am really excited about it. emily: let's talk about investment opportunities. what are the most interesting opportunities you see out there right now? bill: we look at the health care ecosystem as a continuum. diagnostics, therapeutics, devices. a lot of different areas and health care and when you apply machine learning a new technology to each of those areas, there are some pretty exciting opportunities. a company we have invested in

emily: what will surprise us most about india? bill: the pace of changethe consumer side is going to sneak up on us. you are going to see a seachange when broadband penetration becomes ubiquitous. emily: do you have a time frame? bill: i think it is sooner than we expect, the next five years. emily: bill mcglashan, founder and managing partner of tpg. according to fortune, the round is not closed yet and will likely include additional capital from existing investors. they give the amazon competitor so-called unicorn status. coming up, our exclusive interview with bill marist on his mission to improve health and prolong life. that is next. ♪ emily: i am emily chang and mrs. "bloomberg west -- and this is "bloomberg west." the maker of architectural and engineering design software is being targeted by an activist investor. a stake of about 6% in the company and says it thinks the stock is undervalued. investors and regulators put more pressure on volkswagen after the company said it understated the carbon dioxide emissions for 800,000 cars. it was the first

betty: amalie, what changes now? -- emily, what changes now? ck dorsey will become the ceo of twitter and is now with square. what happens now? emily: they just hired jackie reese from yahoo! to head square capital. they are trying to figure out how to build some of these non-core businesses, like square cash. we might see them make interesting strategic decisions regarding a company they acquired earlier this year, caviar. dorsey,g to ask jack what is going to change for you now that this is a public company? betty: thank you so much. i know you are going to be speaking with jack dorsey in a moment live from the floor of the new york stock exchange. we will be back. ♪ betty: welcome back to bloomberg markets, betty liu. time for the bloomberg business flash. carmakers from around the world are showcasing the best and latest at the l.a. auto show, but for volkswagen of america ceo, it is yet another opportunity for a mea culpa over the emissions scandal. have a remedywill for the over 5000 cars sold in the u.s.. >> we apologize and we cannot sto

emily chang is in china with some big interviews.ing us wednesday, alibaba founder jack ma. ♪ the 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. angie: it is 12:30 here in hong kong. i am angie lau with an update on the top stories. china's consumer inflation waned in october while factory gains and deflation extended the record straight, signaling policy makers may add more stimulus. cpi raised one point 3% while ppi dropped 5.9%. that is the 44th straight month in the red. inflation remains around half the official target despite six rate cuts in the last year. quartereports third results this afternoon, and we are expe

david: appreciate it, in leaching -- emily chang.be sitting down with emily chang next week in beijing. this is "bloomberg markets." ♪ buddy- nice place, nice car what happened? well, it all started with my free credit score from credit sesame.com. they gave me so much more than a free credit score. credit sesame's money management tools and personalized offers saved me tons of money and helped me reach my goals. i just signed up with their free app. what's my credit score? your credit score is 650. that's magic! no, that's credit sesame.com you get so much more than a free credit score so do more with your score at credit sesame.com >> welcome to "bloomberg markets." betty: flung bloomberg world headquarters in new york, good afternoon. i am betty liu. the blockbuster employment report, blowing away expectations. the job rate falling to a seven-year low. what does that mean for the rate hike? is it a green light? president obama saying no to the keystone pipeline putting an end to the seven-year debate over the controversial infrast

. ♪ emily: i'm emily chang and this is "bloomberg west."oming up, a muscular third-quarter earnings report from fitness device maker fitbit, but shares slide after hours. plus, mobile payment firm square could hit the road early next week and likely investors will have tough questions for the c.e.o. and germany's infineon technology said to be the leading candidate to snap up fairchild semiconductor. first up, bloomberg news. more than half a million leave u.s. prisons every year, but with jobs and mental health services scarce, many are soon back behind bars. president obama today called for breaking the cycle of incarceration. president obama: millions of americans have difficulty even getting their foot in the door to try and get a job, much less actually hang on to that job. that's bad for not only those individuals. it is bad for our economy. we have to make sure that americans who have paid their debt to society can earn that second chance. emily: congress is considering legislation cutting sentences for nonviolent drug offenders. the

emily chang sat down with jack and asked him about his u.s.. >> we are very thankful for the united states. the united states internet, there would be no ba, and without american tourists coming to my city, i would never learn to speak english. and without the wonderful innovations of silicon valley -- people think, when will you come to america? are you going to compete with amazon? when are you going to compete with ebay? we do not go there to compete. if we go there, we want to have a small business, helping them to china, helping them to asia. we have such a huge demand of chinese consumers online. people, even on the mobile phones, shopping on our site. we need good products, unique products, in which the usa has a huge potential. , i i think in five years want our team to be thankful, to invest in the high tech knowledge, invest in startups that help them to grow. inw not only in money, but one day coming to china, a huge market. emily: amazon is focusing on india. you are focusing on russia. when do the world's biggest e-commerce compan

emily: how much does this have to do with adela? i sat down with him and i found him refreshingly impressive. shira: he has managed to changent in wall street about microsoft. emily: who is not hot? --ra: ibm, yahoo!, cisco these are companies where revenue is shrinking. they are strategically before uddled. o emily: do they stand a chance? rejuvenating? shira: it is funny because emc and dell are teaming up for the same reasons hewlett-packard is splitting apart. they say they are better apart than together. they have the same challenges and approaching it from completely different tactics. we will see who wins. emily: we have asked the question before and the answer is one tech company has really rebounded from the near break and that was apple. do you see that in the future for yahoo!? shira: it is hard to reinvent yourself in the technology industry to get change happened so quickly. apple did it, ibm did it arguably. ibm is trying to reinvent itself again. the fact we can only name maybe two examples in 40 plus years of technology history says something which shows you how difficult it is. emily: what happens the yahoo

emily: i read it was like father and son. tony: there were a lot of love-hate moments. oh, we're going to take over the world. you need creative tension to really change emily: you quit a couple of times. you made up. like -- tony: it was a dramatic relationship. emily: there is this modern theology of johnny as apple design guy. i wonder how do you remember it. was it more of a team effort? it comes to design, there is no right or wrong. there is opinion. and different people had different opinions and led the charge for certain decisions. so, there was a team effort between myself, johnny, the marketing team, steve, and we would talk about the features, feature sets, what a looked -- what it looked like. there were certain decisions i could make myself. there were decisions about what it looked like, and johnny had big opinions. steve always rendered the final opinion on almost anything that involved the customer. it was very much a team oriented thing. emily: is this sort of mythology that pits you and johnny against each other -- is there any truth to that? tony: creative tension makes things better. we had times where we saw i die -- saw eye-to-e

emily chang, anchor of "bloomberg west," joins us. singles day has been the record.he naysayers who said we hit peak alibaba, they have nothing left to say, have they? emily: actually, i've got a new number for you. billionhas seen $11 across their platform so far today. we've still got six hours left. they've already blown away the records from last year. we've got six more hours to see how much more they can come up with. they tell us more than 70% of these transactions are happening on the smartphone. we're seeing a lot of m- commerce, or mobile commerce, today. this is a former goldman sachs guy that has been brought into focus on international expansion. alibaba is touting the global nature of this holiday. there are aspirations to become a global company. mike evans is the guy supposed to do that. look what he had to say about their u.s. ambitions. >> our strategy is not competing with amazon. it is less about finding the investment opportunities and more focused on starting to learn about the domestic market. emily: that said, the u.s. is still the biggest pot

i'm emily chang. this is bloomberg west. coming up, taking a page out of playbook, in talks to buy a stake in one of asia's most venerable newspapers. plus high speed internet access means no day of rest for holiday shoppers. walmart moves the start of cyber monday to sunday. and the two companies that once made up hewlett-packard set to report their first stand alone results tomorrow. we'll preview the numbers for th hp enterprise and hp inc. first to our lead. alibaba's founder in talks to buy a stake in the publisher of the south china morning post a hong kong based english newspaper according to people familiar with the matter. if the deal goes through he would be following in the foot steps of other tech executives getting involved in media businesses. amazon's jeff bezos of course bought "the washington post" in 2013 and chris hughes the facebook cofounder who bought a majority stake in the new republic in 2012. i asked jack ma about this when i traveled to beijing earlier his month. >> i'm interested in many things bu

. ♪ i'm emily chang, and this is "bloomberg west."oming up square is getting , close to setting its price range, will investors pay up? facebook shares climb into the record books, following a seller -- stellar earning point. we look at the reality of a virtual currency come back. let's check in on first word news. we want to start with u.s. stocks, ending trading lower today. investors were hesitant to make a large bets before the jobs report. a bank rally helped erase decline marked by a selloff in valeant pharmaceuticals. commodity weakness also holding back stocks for the second day in a row. united continental ceo says he will return to the airline next year. he suffered a heart attack a month after joining the carrier. now, details of a sweeping pacific rim trade deal are out. the transpacific partnership agreement runs hundreds of pages long. it lays out plans for handling trade from railway sleepers to live eels. it also sets the stage for extended debate in u.s. congress before ratification. nasa's mars orbiting spacecraft ha

but this time espn delivers. ♪ i'm emily chang, and this is "bloomberg west." square is getting , close to setting its price range, will investors pay up? facebook shares climb into the record books, following a seller -- stellar earning point.

joining us is emily chang, anger of bloomberg west.t this weakness among brick-and-mortar stores. cyber monday extended through most of the weekend. emily: they have been making sure that they pull this off smoothly. it has not been smooth across the board. target having problems earlier today, creating a virtual online , telling people to hold tight, that there is too much traffic right now, and return later. is of the interesting things one-third of traffic is coming in on mobile. we are seeing record online shopping, $1 billion a day potentially in transactions happening on smart phones. and we are seeing shopping stretching out over not just the last few days but over the last month. we have been calling it like november, not just black friday anymore. people are shopping everyday, and retailers are offering deals every day -- we have been calling it black november. up 25% on thanksgiving day. on black friday, 800 22 million dollars spent before 11:00 a.m., up 15%. i did a lot of shopping. online and off-line. the deals were insane

emily chang, anchor of bloomberg west. , we aren the next hour heading to the l.a.n interview with jim -- gm. ♪ ♪ anchor: it is 4:00 a.m. in hong kong and 3:00 p.m. in new york. welcome to "bloomberg markets" ♪ from bloomberg world headquarters here in new york, good afternoon. i am betty liu. stocks are extending gains as the fed released its october minutes, adding language stressing that a december rate hike remains very much on the table, and a global macro hedge blackpulling the plug on rock. how much will this hurt the reputation of the world's largest asset manager? and an ipo after the bell, payments for either of them, a match made in heaven for investors, and we are about an hour from the close of trade. i went to head to the markets desk, where bloomberg's julie hyman has the latest on investors welcoming, it seems, the news

emily chang, the anger of bloomberg west.mberg west . -- the anchor of bloomberg west. coming up in the next hour, we will continue to count you down to the closing bell on this day before the all-important october job support. -- jobs report. ♪ we live in a pick and choose world. love or like? naughty or nice? calm or bright? but at bedtime ...why settle for this? enter sleep number. don't miss the semiannual sale going on now! sleepiq technology tells you how you slept and what adjustments you can make. she likes the bed soft. he's more hardcore. so your sleep goes from good to great to wow! gift the best sleep only at a sleep number store. save $500 on the veteran's day special edition mattress with sleepiq technology, plus 36- month special financing. hurry, ends wednesday! know better sleep with sleep number. >> it is 3:00 in new york. welcome to "bloomberg market." ♪ from bloomberg world headquarters, good afternoon, i'm belly -- betty liu. see chapter four is out tomorrow . the countdown begins. disney earnings are com

alibaba jack was ma talking with my colleague, emily chang.t is it for this thursday at this -- addition of "trending business." is going to john us coming up as we recap the stories of , including the shifting policy in china. you are watching bloomberg. "asia edge closed what is next. ♪ ♪ announcer: from our studios in new york city, this is charlie rose. charlie: john meacham is here, he is a pulitzer prize-winning historian, and executive director at random house, his latest book is "destiny and power: the american odyssey of george herbert walker bush." it draws on extensive conversations with the former president, his family and inner circle. in it, the older bush offers assessments of dick cheney, donald rumsfeld, and even his son. alongside the controversy, there

emily chang, tory burch. talking emily: it is very unclear if alibaba does this, are they going to have to pay billions of dollars in taxes? will yahoo! have to pay taxes? is, what isquestion yahoo! without alibaba? in the minds of a typical wall street investor. it is a substantial company that does not show h menace amount of energy or growth right now. a major force in the internet economy not generating tremendous enthusiasm. emily: marissa mayer's time is up here and a lot of people are saying, let's give her time. are you over critical of mercer mayer? tory, marissa mayer is a target since she got in, she is going to have twins. and everyone is going out there. heavy felt like, being a woman, you get extra scrutiny? tory: of course i feel that fear of mercer would be the first to say that fear she is really smart and i really like her. i think women are looked at definitely and that needs to stop. do not think she would say it because she is always trying to pretend she is just facing ceo but she is gett

." ♪ emily: i'm emily chang and this is "bloomberg west."rocrastinators gave thanks for online delivery service this holiday. first to our lead. a short but busy week in tech news. the latest unicorn, jet.com announcing a $350 million funding round. fresh capital as holiday shopping ramps up. hewlett-packard posting its final earnings as a single entity -- and the results were not pretty. cory johnson joins us live on set. this is a massive round for jet.com. spencer: a lot of money heading into a critical time. this will be their first holiday shopping season. you are right to note some investors doubled down. they see something they like and they are throwing more money at it. emily: jet posting a growth rate of 65% between september and october. that is impressive. spencer: one investor i talked to was impressed that by the end of the year, they are expected to be on an annualized rate of 500 million in overall sales volume. they are growing and they are throwing money at it as long as it keeps growing. emily: they are offering steep disc

betty: emily chang is in beijing. how much shopping is expected to get done on singles day?ly: this is a good excuse to go out and buy something for yourself. this is something that was invented by alibaba in 2009 as a reaction to valentine's day to get single people out there and shop. alibaba is kicking off the biggest shopping day of the year at the water cube, the iconic: big venue, where michael phelps won eight gold medals back in 2008. they expect more than $9 billion in transactions you happen on the alley baba platform. that's what happened lesser but i've seen estimates as high as $14 billion. there are more international brands participating this year. apple, burberry, costco, macy's and we will speak with jack ma as the clock ticks down tomorrow night and we will see the numbers as they get tallied. betty: it's not just about mi, how do for xiao they stack up against the other smartphone makers? all of the big e-commerce companies have a lot to gain on a day like today. we also got a chance to catch up with you go berra including their position in the global smar

betty: emily chang, who just sat down with the jack ma, is back with us. i know you have said goodbye. what was the biggest takeaway for you? emily: thanks so much. it is really refreshing to speak to an executive who is straight up, who does not mince words and --questions,on's at least to me, authentically. i said you have investors who believe you are shorting a stock. he said, they love me, they hate the, i cannot change their opinion. he talked a lot about the future atthe company, and thinks some point, 50% of revenue will come from international. the big question is whether alibaba can stand the test of time. he is playing the long game. he is absolutely playing the long game. curious, being that you have been there for the last few days, how has singles date hand out, and how is jack ma received locally among the chinese? ma is a star, he is a celebrity, the richest man in china. that is how people know him. but he is also an inspiration. we are looking at the numbers rolling in live now. almost $14 billion in transactions happening on their platfor

emily: i am emily chang and you are watching "bloomberg west." tensions escalate between turkey and russia after the turks should down a russian fighter jet. a billionaire catfight in space. and, going mobile fast. watch the games and go shopping from the comfort of couches this weekend. first, to our lead. officially split into two separate companies earlier this month and today had the combined results. down year after year, combined airings 93% -- $.93, and down from last year. away, issued a separate outlooks for the first quarter and warned profits would be lower the end expect that. profits tumbling. it expects first-quarter earnings lower the yen estimates. hp enterprise shares flat. software enterprises headed by meg whitman expecting below estimates. joining us, crawford and here , ourme in san francisco editor-in-chief corey. down so much.es we see a business shrinking on every count. the topline shrinking, profitability shrinking. when we look at some of the businesses, print is down 14%. i went back and at every model. biggest decline

so much has changed. emily joins me now.prised by what he had to say about how his company now surprised you are it wise alibaba so interested in buying this? >> we have seen the small stake in some companies. the flagship english-language kong, a prizeong itself on a bit of political separation from the mainland. two years ago, jack ma and the paper came to blows over this comment he made, virtually in support, the reporter ended up so ultimately come a could be fraught with political we haveions but look, seen former facebook executive chris use by the new republic. interesting, they have been struggling like many newspapers with online viewership and making that sort of transition while jack ma knows a thing or two about the internet. david: no one ever has a quick answer as to what alibaba is now getting into media, does this company seem to be drifting farther away? make awe have seen the lot of interesting and curious acquisitions. a stake in a hollywood studio and when asked why are you making these across so many dif

i am emily chang and this is "bloomberg west." a crucial litmus test. a sunny forecast from a cloud computing giant. shares of salesforce.com had higher after hours. talk about a solid resume, i sit down with an interview with reid hoffman. waiting to big initial public offerings this week, square and match both expected to price their ideas any minute now. what are we expecting? let's start with match. match group is the parent company behind okcupid and .ender then, of course, there is square. -- it hasthe company been a rocky year for the ipo market. these companies have what it takes to turn it around? is ang me now in new york reporter who has been beating the drum. alex, i want to start with you. some dispute about the square valuation. it is apple to oranges, you cannot compare public to private. $5.7 --looking at a $5.7 million valuation. alex: the most telling thing, they're marketed range, they are looking at $11 to $13 a share. you there is some type of discrepancy. the whole conversation up to diluted share value, maybe that is time for anot

emily chang interviewed two of the most intriguing and in village will -- and influential people in texasthe question to him simply -- are we in a tech bubble? >> it tends to be a private market bubble. it is not something when you .earken back to a 2001 >> we are not in a bubble in the private market we are in a bubble in the public market. we are at an inflection point heading towards catastrophic events. tech is undervalued. why is there such a diversity of opinion? the question comes down to how much do you believe new things will be invented? inherently, you can build idea, to from an something globally relevant in three years, four years, five years. you look at these new companies. they can be important to affect all initiatives. that is was we should focus on parent on the other hand, you go okay, a lot of investors are betting on this broadly. you get valuations when you look at a valuation and go why is that valued that way and the answer is people are not distinguishing sharply between which companies benefit from a globalized network age and which companies do not. that is the

. ♪ i'm emily chang and this is bloomberg west.intelligence officials are working around the clock to keep the country safe and there has been no sign or intelligence of a specific threat against the u.s. at this time. the surviving pilot of a downed russian fighter jet is rejecting claims from turkey today that he was warned repeatedly about airspace.turkish the pilot said he and a copilot received no warning and never crossed into turkish territory. russia says turkey planned the attack ahead of time. some brussels subway systems are reopening today. authorities are still searching for two suspects believed to be linked to the paris attacks. angela merkel showing solidarity with france. she stopped by a major square. activists are threatening to disrupt the biggest shopping day of the year with plant demonstrations

i want to bring in emily chang. what did you learn from facebook 's david wehner.is a killer quarter for facebook. the have reaccelerating growth of users and add growth. facebookople who use are using it every day. telling us across the board a really strong quarter, really pleased with results. it continues to be a story about the success of our advertising business fueling our growth. they are seeing the strongest at growth of any quarter this year. as for what kind of advertising specifically, he said it is our product and innovations in advertising across the board contributing. we are seeing good performance , video, andbusiness instagram is starting to make a contribution. that adds a lot of curiosity. some estimates that perhaps $300 million or 5% of total ad revenue coming from ever core. that we are very pleased with the progress we are making. we are still very focused on user growth. another thing we were curious about is spending. on a loteen spending of different things. what is the plan for spending over the course of next year. greatd we benefit fro

i'm emily chang and this is "bloomberg west." etsy reports of mixed quarter with some warning signs ahead. a multibillion-dollar buyout. twitter hearts changed but existing users, not so much. we talked to a former board member about jack dorsey's latest move. first let's get caught up with our bloomberg first work news. u.s. stocks extended a rally today with the s&p 500 hitting a three month high. chevron gained as crude oil climbed to a three week high. the energy group has rebounded 22% from an august low. visa and apple helped send the nasdaq 100 to an all-time record, topping its previous record from march 2000 during the dot-com bubble. volkswagen said approach indicates an additional 800,000 cars showed your regular emissions output. the german carmaker said the economic risk amounts to -- volkswagen may be liable for fines of as high as 18 million dollars and faces further cost from lawsuits in the u.s. and europe. the u.s. government is fining airbag maker takata for lapses in the way it handled airbag recalls. they may

. ♪ emily: i am emily chang and this is lulu -- this is "bloomberg west." wednesday in hong kong. good morning. >> thank you. a couple of earnings we are watching here. the leading list of july has put expansion on a hold. -- also announced a first ever special dividend in an attempt to an list investor returns. they say they will shut underperforming stores. shares have fallen more than 40% the china slowdown affects industries in hong kong and abroad. -- says sales next year will miss the target of growth. they blame slumping demand in china and the u.s. and it comes after they cut their revenue forecast. hugo boss says the slowdown in china is forcing people to look for better prices elsewhere. a 25-year-old woman has gone on trial charged with defaming. photos of -- she is one of three people recently charged with connection to social media posts. there are dictatorship laws protecting the dictator from ridicule. and -- has suffered a setback. holdings rejected the $12.4 billion buyback offer over concerns about valuation. said only 50% approved the pla

emily chang in beijing. there is going to be sitting down with jack bob. that interview comes at 2:30 london time with emily herself. funder and chief executive, jack ma. it is official, 44 pounds a share. are going to bring you the latest details on the megamerger , ab inbev.r what does it mean for your beer? ♪ manus: i am manus cranny in london. making his story. the big news story. ab inbev has made a formal offer to sabmiller 444 pounds a share in cash. it will create the world's largest brewer. it had agreed to sell to its miller's course stakes to -- miller course stakes to molson coors. we were chatting about the anheuser-busch in the story, they talk about $1.4 billion of synergies. i suck, i can see from my notes we're talking 1.5 ian dollars. we know there is going to be competitiveness. china is an important market as well. when we look at the global presence for them between china and the united states. where do you think the biggest antitrust issues are going to come. ashok: u.s. and china are the biggest places where they have to go and sort o

emily: how do you want to be remembered? chris: that i helped start an industry that changed the world. chris anderson, ceo and founder of 3-d robotics. thank you so much. chris: thank you. ♪ . ♪ emily: he is tech's biggest outlaw, under house arrest after a massive raid by new zealand commandos. kim dotcom is known for his outrageous personality as he has trotted the globe from germany, to hong kong, to new zealand. now he is the target of the biggest copyright case in history, accused of trafficking in pirated music, movies, and tv shows, as he awaits an extradition hearing to decide his fate. joining me today on this special edition of "studio 1.0" from auckland, new zealand, megaupload founder and

tonight marks the season three premiere of studio 1.0 with emily chang.own with the father of the ipod to discuss his time at apple and conversations he had with steve jobs about building an apple car. >> if we were to build a car, what would we build? what would a dashboard become, what would seats be? constrained,y, so it would be great to do it, but we can't. >> was this something he was like, we're not doing this right now? >> there's a lot of things we said no to. why did in the ipod turn into a great video camera. tb was another big one. -- tb was another big one. -- tv was a big one part we focused our energy on cell phones. let's focus on really big markets that have incredible impacts well beyond steve's re ign as ceo. ♪ >> welcome to bloomberg markets. from bloomberg world have perez good afternoon. i'm betty liu. -- from bloomberg world headquarters, good afternoon. does the data back her up? congress launches an investigation into pricing by valeant, turing and others. facebook faces high expectations as it reports quarterly earnings right at

emily: i'm emily chang. this is bloomberg west. a very happy birthday for jack dorsey. i spoke with jack about the ipo. investors with a date with much group. for marissa mayer. a shot fired, telling the company not to spin off its stake in alibaba. square surging in its first day of trading. shares closed pricing at just nine dollars a share. the company had been marketing shares at an 11-13 dollar range. prices would have given a valuation below the $6 billion that in its last private financing round. was it a day to celebrate or breathe a sigh of relief? here is jack dorsey with me. >> i am really excited. it is something that has been a long road. it is what will accelerate business and help us build the tools that serve customers in the right way. i'm excited to get back to work. emily: i caught up with the square cfo. she described the disparity in the valuation. >> ultimately i don't know if we can get into the disparity. we do what we can do best. try to focus a think about what square is here to do, got to build the company. we can build a big impact. that is w