there are going to be new players, new fintechs, could be the large tech companies come in and are ableo benefit from being able to put a debate in banking. what about security? there are many people, myself included, who will be thinking i don't want my financial data out there being used in all kinds of ways. the financial conduct authority will be regulating other businesses, but will that be enough to secure the data, to make sure it is protected? and i understand that, and it is important to stress that you as a consumer give consent to extra ct you as a consumer give consent to extract that data for a third party. the third party cannot extract data, consumer data, willy—nilly. the third party cannot extract data, consumer data, willy-nilly. and they can't sell it on to anybody, it is com pletely can't sell it on to anybody, it is completely protected. it is only for the content you allow, only for the purpose you allow. and at any point you can say to that third party that they must delete that data and they are required to by law. what about banks? is it going to be the death kn

visa fintech, fintech, health care, defense, experiential and tech that's so great.hould ask what lynn likes next let's go to jack in connecticut. jack >> jim, booyah from fairfield county. >> man, nice, what's up? >> caller: i'm starting a portfolio with my 22-year-old daughter, she's already started a roth i.r.a., invested in the etf and started to pay back college loans. >> listen up, this is what you have to do what jack just described let's go to work jack. >> caller: we want to incorporate five stocks or companies that can benefit maybe from the tax law changes, take into account some medical recreational cannabis play possible and maybe that blitz on cryptocurrency so my five stocks, are we diversified alibaba online retail, raytheon, goldman sachs for that crypto play, scotts miracle grow for the cannabis play and boeing what do you think, jim >> i was doing a piece for my wednesday conversation all talking about the idea of why to own goldman. you have it. scotts miracle-gro -- later on in the show we'll talk about that scotts miracle-gro, yes, they have hyd

i view the company as a darling of fintech. 2017 wasn't a great year.hey lost their cfo, their chief revenue officer. now they have clarity, bringing leadership in, and a big-name. it should be good to get the company back on track. they are answering questions a lot of people at the company have into what the direction of the firm's. years ago, cagney said ipo is on the horizon for 2016, was the original timeline. we are already in 2018. emily: i can only imagine that the culture there has been somewhat beaten down by all of the sexual harassment allegations. they didn't just surface with mike cagney, but other executives. how would you describe the culture of the company now, the sentiment among employees? >> right now, people want to wait and see what anthony brings in. they are glad to have an adult in the room, to have a leader, someone to look to. before, there was no one to say, all right, this is our strategy, this is where we are going. everyone was in wait-and-see mode. emily: twitter is about to report earnings. the company has been improving

the ceo has resigned from the company to take the ceo position at a fintech startup.e has played a leading role at the company. he has his work cut out for him. he will fill a leadership void that has existed since the cofounder resigned as ceo last year, amid accusations of sexual harassment. we got all the details from bloomberg news tech reporter selina wang. >> that delivers a blow to twitter, especially just at the very early beginnings of their turnaround strategy. several analysts upgraded their company. they are finally showing revenue and user growth. noto did put in place much of the structure they needed to continue this turnaround. including the livestreaming, the contact strategy and paring back some of the other businesses to focus on user engagement. some sources have said that this could provide a good opportunity for jackson. he and noto haven't always agreed on product division. this could be a way for him to pursue other paths that haven't been possible. emily: interesting. there was a tweet. he has been a friend, partner, and mentor to me for years

. >> one argument again on investing in banking is the rise of fintech and the disruption that's causing in the space. do you think that doesn't impose somewhat of a threat to the more traditional retail banks >> i think it does we underestimate how resilient franchises are i think there's a tendency for investors in general to get the direction of travel right when it comes to new technologies, but get the timing wrong yes, i think fintech does represent an issue longer term but shorter term i think that the outlook for the uk, it's reasonably stable as long as the global economy performs robustly the outlook for higher interest rates will be positive that will outweigh the longer-term concerns >> you're saying that the uk economy could emerge from brexit relatively unscathed as long as we see global growth >> yes what about the fact we have janet yellen's last meeting as chair yesterday. the federal reserve, we got the final statement today. do you think she's leaving on a high note? >> i think the challenges she faced were more nuanced than bernanke faced yellen had a different set of

the principle is very simple when we talk about fintech. simplicity, efficiency and quick decisions. in lithuania we do this in many areas. caroline: last week, your company -- country talked about a collaboration. can you tell us what is behind this move? a very blockchain is promising technology which can be used in many areas. not only financial services but from transactions, etc. considering, we are to introduce it in the public service as well. >> are you worried that the risks with the volatility behind bitcoin, for example? vilius: of course, risk is everywhere. you can't even marry without risk. but we can't ignore this phenomenon in currencies and we think this area could be also the european commission is considering regulations in this area, as well. >> so the regulation should come first from the eu level, not the g20 level? vilius: it doesn't matter who ie first to initiate is, but am confident policymakers will discuss this issue and they do believe the solution should be a global one. another attractive .4 lithuania is the l

we are investing in ai applied to fintech for banks, insurance, customer service.terested in ai's use in health and medicine, autonomous vehicles. we invest in robotics, primarily industrial robotics, because i think that is where people can see making money or saving money. we are invested in new types of sensors that will bring way down the cost of autonomous vehicles and robots, so ai is probably half of our fund, but under ai there are six or seven areas where we invest in. emily: we have seen shares of the big tech companies like tencent continue to rise. where do you see the valuations of chinese companies going public and private? kai-fu: china's market for internet companies is larger than the rest of the world, so current valuations u.s. to china are roughly one to one, the u.s. slightly higher. i think china should be 50% higher than u.s. when it is all said and done, so both valuations will grow. i think chinese will grow more in the next five years because leveraging all this online access, payment capabilities, and the speed of acceleration, i think pr

francine: are you a fintech company, or are you an asset manager?it is a very good question. we are certainly an asset manager, but i think we are more than an asset manager. i believe that we are a platform in many ways. in fact we have said publicly that our ambition would be that five years from now, we would have a third of our earnings derived from kind of technology empowered, or technology driven, products and services. francine: talk to me in any kind of, you know, real terms. what's a robot advisor? and who is going to -- am i going to have a robot as a boss at any point if i work for blackrock? philipp: no. i think the answer is you will have lots of interface, or if you are -- maybe not as a client. we don't go directly to clients at the moment, but through our distributors, they will have tools, technology tools that will make it much easier for them to deal with their clients, work with their clients, and bring value to their clients, and we want to be that platform for our distributors. you will also see that in your products, a combin

‘ profits — some $35 billion a year — are at risk from new rivals in the financial technology or ‘fintechcenture managing director of payment service, europe, africa and latin america is with me. thank you for coming in, how huge is this change? i believe this will be the biggest revolution in banking since the big band in the city in 1986. that was about investment banking and stockbroking but this is about retail banking and high street banks. how keen do you think customers will be to take up the offer of selling out financial detail, giving you access to two other companies, people like me who have had the same bank account since i was 18, have had the same bank account since iwas18, i have had the same bank account since i was 18, i would be concerned were that data would go. it will take time, we will not see a lot of activity over the next few months but over the course of the year we'll but over the course of the year we' ll start but over the course of the year we'll start seeing new propositions, for example, able to pay directly out of your bank account on retail websites witho

james: we spoke to the head of fintech center, this was before the hacking had happened. enthusiastic about getting on the cryptocurrency bandwagon. at the moment, cryptocurrencies are regulated as a means of the boj isut interested in what is happening with blockchain specifically bitsy no reason to start issuing their own digital currency or cryptocurrency. some other central banks, sweden is considering doing that, some sort of crypto coin, but the boj has no intention of doing that at any time in the future. betty: cash is essentially came in japan. why is it? credit cards, in money, all of these options for japanese consumers, why is that such a tough sell? james: it is an interesting question. along withess germany, they are the two most cash dependent major economies the world. is strikinglyage low here, and it has been very difficult to use a foreign issued credit card even five years ago. the japanese people seem to have just a liking to use cash, i guess there is less ability to trace it. there also stores the don't accept credit cards or any type of non-cash pa

. ♪ emily: it was a $1.2 billion deal that could have reshaped the global fintech market, but and financiald plans to buy moneygram after failing to win regulators approval. what are alibaba's next steps in america? lulu, what are they? lulu: as of right now, we now -- know ant financial and moneygram said that they just saw no way that regulators could approve this deal. ant financial has agreed to pay $30 million to terminate the deal. they said they still want to collaborate together in working on partnerships, and that will take on something like what they have already done in southeast asia, where they have invested in thailand, indonesia, and also india. emily: a year ago when jack ma met with then president-elect trump, he promised more business in america. how does that take shape? lulu: right. so, not having the moneygram deal go through probably because originally they were working towards that deal, it gave them extra initiative to really make those one million jobs happen. but even with this deal falling apart, it doesn't change things, because jack ma has said, until 2025, they

we know that fintech is going to be big.nstitutions who to actually using fintech substantial degree. they are ready, looking to cooperate with startups, develop internally our own [indiscernible] but they are doing very little. i think those who are going to move ahead fast and innovate now will be the market leaders. tom: in the financial sector. christopher: the financial sector has problems different from other sectors in that the main asset of the financial theor, when it comes to customer's, because you are trusting your financial position with the money you managed to say through many -- to save through many years of work. it's difficult for a new company to come up with an entirely new , to, whatever it might be generate immediately the trust needed to give the company your money. blockchain,ng like which is been out a few years. it is to working like a transitional bank. [indiscernible] you would not think immediately, i am going to stop saving. the financial sector is facing the stick -- this difficulty, how do you

the let's get straight to paris fintech conference, the most exclusive european event on fintech ande joined by a very important guest. reporter: she is the president of the paris region. good morning. ch are at the finte conference. how many jobs will that create for the paris region? to be the place where the finance of tomorrow is invented. so we are working very much on innovation in finance. we want the green finance, the ethical finance, to be raised in france. we are not competing with london for jobs. we think that now with the brexit a lot of companies will have to relocate. relocate to continental europe. we expect, if you really want numbers -- reporter: we want numbers! valerie: we already have 3000 expected jobs that are already known to be coming to paris. reporter: but 3000 still seems like a small number. i heard that 20,000 jobs will move to paris after brexit. so, we are very far away from that. who are you talking to at the moment? which banks and which international companies are you talking to, who want to relocate to the paris region? valerie: the move is slow,

that is the moment payments platform of alibaba, one of the biggest fintech companies in the world. alipay/amp financial no longer going to pursue moneygram, they state specifically in this they were not able to obtain the required regulatory approval for the transaction from the committee on foreign investment in the united states that's the regulatory body known as sifius that bets all pending mer men mergers of american companies bay foreign takeover aqcquireac. the ceo going on to talk more about why they aren't doing this that stock off sharply in the after-hours trade, kell. back over to you guys. >> dom, thank you. this is a big story. while this had been flagged from the beginning it might be blocked, the fact they would still block something you can't say it on national security grounds. i understand the implications. >> the movement of cash in and out of the country is the business >> right. >> so obviously they were not sure about the clearance also a very tough sector moneygram is in right now. western union has been a very tough stock. of all the applications of blockch

on december 29 that is kind of a sandbox, a regulatory sandbox to try innovation and experiment in fintech regulator, according to a lawmaker in that report, saying over the last six months, there has been more progress and opening up the regulatory framework but right now it has been a slow process and getting people on board because of the risks. rishaad: good stuff. stephen engle there. taking a look at a selloff saga getting stranger. [indiscernible] we will tell you why. ♪ ♪ withad: you are back "bloomberg markets: asia." dell may finally bring all the pieces of technology empire under one publicly traded roof. the billionaire wants to create a structure that would help his two companies better manage a massive debt load. our reporter has been following the story out of san francisco. >> last week we reported michael dale was considering options to getting his company public, and today we have more view on what options might look like. the tech mobile is leaning toward a tie up with other publicly traded company, vmware. vmware would use its common stock to acquire dell, which is priv

growth over the next three years and they'll be -- if you're not familiar, markets is basically a fintechr. they'll be ding credit card consolidation debt online. a very big divergence from what people are used to out of goldman sachs. it's left some investors wondering whether or not this is the right time to be jumping in when they're chasing revenue in a business they're very new to. it's an ktive de-- active debate around goldman sachs now. julia: you said it, a year to forget, why don't you really tell us what you think. to what extent is this a business problem a structural problem, versus a market environment. yes it was bad for these guys but they're all struggling. >> they're all struggling but goldman's results were weaker than the peer group and that's the question investors and analysts have been pushing them on all year long and they haven't really had a satisfying answer to that and it's left a lot of them doing soul searching at this point. we've been talking to them a lot the last 48 hours and they're wondering whether or not this -- to -- do i really continue to stick wit

do you think investors are not foray intoperly your thin tech -- fintech?0% of our customers will be digital and that shows in things like profitability. 30 times more or than nondigital customers. they are more satisfied than other customers but it takes a while for that to trickle through the p&l. we had a great year in terms of growth, core revenue growth for the third quarter, we have not published the full year yet. grew by0% when expenses 1.2%. we are starting to see a bit of that, cost savings, we will see more of that. we were selling digitally one out of 10 products two years ago, today it is one out of three and that is growing exponentially. it has to trickle down and has to be included in the share price. francine: is there anything else you can do to convince the market? guest: the market will have to see one results come through. it is a story we tell right now and we have to consider that and appreciate it. we are seeing a tremendous result and it will come through eventually. banking, it is a long book it has a long tenure, things take a whi

we're -- >> what are the other -- >> what are the other big banks that you think are doing well with fintechk on. they've invested in fintech. >> we've invested in -- >> probably more than anybody else. >> hundred different companies again, technology, this is not new. you use technology to do a better job for your customers. if you don't, you lose that was true 30 years ago, 20 years ago, 10 years ago. i think it's faster today. more competitive payment system is one place someone may come and disrupt something. we try to be conscious both from a consumer side and the who wholesale side we're bigging blockchain faster, quicker, big new computers that ginni was talking about. >> z 14. >> i'm going to get one. >> we have a whole bunch of z 14s. >> what color are they do they come in blue >> just in black >> i want a blue one so dahlia was on he said just to paraphrase, he said that 4% is the new 8% in terms of where we need to worry about dislocation and actually -- >> interest rates. >> not being able to service the debt that we've built up i guess my question is we kind of think that it's c

first of all is tom's panel tomorrow, the future of finance and fintech.orvette. fromn important voice china on the economics of china. thrilled that anne richards will be with us. francine: i'm really looking forward to it because it is all about regulation. it will be interesting to see if the chinese regulators are ready for some sort of meltdown. and it is interesting because your group has china has their top risk -- as their top risk for 2018. that is my friday panel on monetary policy, the end of the easy money and what that means for the market and on some of the mandates for the central bank. that is my panel. tom: a tumultuous weekend in washington to say the least. with your morning briefing, taylor riggs. taylor: the u.s. government shutdown is now in its third day. tobers of congress failed negotiate an end to the stalemate over the weekend. a bipartisan group of senators is looking at a plan to fund the government through february 8 along with promised to take up a bill on young undocumented immigrants. pence is innt mike israel, where he is

. >> those are my people here on fintech live we're happy to be here with them.ictory day. now it's nap time just ten minute snooze. see you later. >> all right tim thank you. >>> let's talk about if carson wentz hadn't injured his knee against the rams. last year's mvp matt ryan versus squents carson wentz many think should make the title this year. >> hurts to watch that. nick foles 27 touchdowns and 2 picks. here's the match up of his stats this season compared to falcons quarterback matt ryan. foles played in seven games this season. last three as the starter. threw 537 yards. 79.5 quarterback rating. 56.4 completion percentage. >> matt ryan started every game, threw more thachb 4,000 yards above average qb rating and completed more than 60% of passes. nick foles said he is at his best when he is comfortable and just goes out and plays. >> hear that little chant back there. fired up! foles said he does have a different perspective on this game of football in the past year. the reason he became a father. here's the eagles qb on playing for his 7 month old daug