they would not get any a lot months on the i.p.o. it's not going to come behind beijing's decision appears to be answered changing business model known across china for its payment system alli pay in recent years and has transformed into a fully fledged financial platform among other services it connects individuals and businesses to lenders in other words it makes money is the middleman banks hold the risk but chinese regulators have grown increasingly sensitive to bank exposure to debt as a result in september the central bank required fin techs like aunt to increase their cash buffers that in turn appeared to irritate founder jack ma at a conference last month he said regulators were off base. we cannot manage an airport in the same way as we manage a railway station we cannot manage the future with the same old approach of yesterday. but it's regulators that appear to have the last say in its filings and had already warned that further regulation could be a challenge to its entire valuation is now in flux regulators have far more

was act halted it was also less than 48 hours before it was expected to be the largest i.p.o. in history what happened here. so this was come clearly not expected and they look both bankers and global investors looking for answers because billions and billions of dollars have already been tied up into this i.p.o. especially the bankers looking for the 400 $1000000.00 payout with the successful listing so now the i.p.o. has been halted after the founder jack ma was summoned and by the regulators who said that they had discovered anna raya shortcomings so chinese authorities didn't give many details about the issues behind us and i've been so far saying only there had been significant changes in the regulatory environment and that this move was to protect the country's capital markets there and i.p.o. had created a frenzy both at hong kong and shanghai months both institutional and smaller investors so following that whole quarter alibaba plunged over 7 percent in the hall call so the i.p.o. is now expected to be delayed for about 6 months and the fund will be. returned to the i

also coming up the world's largest i.p.o. was a jew today but beijing brought it to a grinding halt at very short notice we take a look at what happened to the $37000000000.00 and group listing. and kenya seeks a friendlier repayment terms for a. annis loan used to finance a railway construction project. welcome to d.w. business i'm joined on in berlin thanks for joining us now markets may despise uncertainty but they've been taking election variability on the chin quite well even the dow jones industrial average climbed 1.27 percent right at the opening on thursday asian shares a scaled near 3 year peak after a democrat joe biden picked up wins in some closely fought states and great publicans looks set to hold on to their majority in the senate analysts are calling it the goldilocks gridlock or the belief that a divided u.s. government would make tax increases and tighter regulations on business unlikely. but what about german markets our financial correspondent conrad booze and sent us this analysis from frankfurt. germany

they would not get any a lot month's the i.p.o. is not going to come behind beijing's decision appears to be answered changing business model known across china for its payment system alli pay in recent years and has transformed into a fully fledged financial platform among other services it connects individuals and businesses to lenders in other words it makes money is the middleman banks hold the risk but chinese regulators have grown increasingly sensitive to bank exposure to debt as a result in september the central bank required fin techs like at to increase their cash buffers that in turn appeared to irritate founder jack ma at a conference last month he said regulators were off base. we cannot manage an airport in the same way as we manage a railway station we cannot manage the future with the same old approach of yesterday. but its regulators that appear to have the last say in its filings and had already warned that further regulation could be a challenge its entire valuation is now in flux regulators have far more say ove

some of these some of these i.p.o.'s this is more money chasing fewer deals or larger deals. when you look at china's economy max and we're to remember they have a closed capital account the world if you look at it look at the swiss data and you look at the global banking system less than 1.7 percent of all cross border transactions settle in chinese currency r. and b. if you exclude mom kong it's 0 and so no one around the world trust china will accept china's money why answer is so vitally important to us national security we think it's the largest trojan horse. spiral sheen ever built it is the answer mantles our writer ali baba and the answer was ok and that's nonsense and. what they're doing is they're building a payment rail across all the bill and road countries where china wins money today represent 62 percent of the global population so what they start doing is worsening the world to adopt their pieman rails. by gallic me and. that subverts u.s. dollar has monitored position around the world that requires dollars don't come in to china to buy the weeds we pay now we

also coming up the world's largest i.p.o. was due today but beijing brought it to a grinding halt at very short notice we take a look at what happened to the $37000000000.00 and group listing. and kenya seeks a friendlier repayment terms for a chinese loan used to finance a railway construction project. welcome to d.w. business i'm joined now on in berlin thanks for joining us now markets may despise uncertainty foot they've been taking election variability on the chin quite well even the dow jones industrial average climbed 1.27 percent right at the opening on thursday asian shares a scaled near 3 year peak after democrat joe biden picked up wins in some closely fought states and great publicans looks set to hold onto their majority in the senate analysts are calling it the goldilocks gridlock or the belief that a divided u.s. government would make tax increases and tighter regulations on business unlikely. but what about german markets our financial correspondent conrad burns and sent us this analysis from frankfurt. german

i mean, he decided a few days before the largest i.p.o. in world history that he wanted to kind of make fun of the chinese government. but there was an underlying part of that with china is how many forward with its digital economy with this, you know, this digital you want things are going to change dramatically or is a feeling that jack ma was timing his i.p.o. prior to this because are going to be profound changes when you do have a digital currency that is actually working in a, in the, you know, world of the world's largest trade entities with, you know, trade relations, number one, trade relations with $120.00, countries around the world. people. there's a feeling that they didn't want jackpot, it cashed in on something that he couldn't deliver. also, you know, i think there's people are looking at what's happening with google and facebook. and a lot of these big monopolies, china created their own. obviously $0.10 an hour bar is huge. and there's a feeling that you don't want to concentrate that much power in these entities because

i want to pick up where we left off talking about and finance all set to be the biggest i.p.o. in history chinese financial media connected to jack ma of course of alibaba fame and you mentioned the statistic there about in terms of the volume of business they expect to do and i think you mention 80000000 enterprises or businesses would be hooked up day one to and finance a contrast that with j.p. morgan they did a story that just came out that they want to compete with scare square so they're going to launch a card similar to square for payments and when it launches they hope to have all of 2000 customers wow whoop de doo so anyway let's talk about in financial support it seems like this is in keeping with the theme that china is just a different whole nother level right now and could it wasn't called it that did it it's been going on for years and so give us and talk about and finance all fascinating the premisses the mean financial is very important as we talk e-commerce through to the world the e-commerce china today that e-commerce book to 3 times literally with the united

raise as much as $30000000000.00 when it debuted on chinese capital markets this week the company's i.p.o. will be a purely domestic affair due in part to rumors but washington is mulling blacklisting china's latest film tech darling china's technology sector most still lag behind america's tech titans but they are catching up and many expect china to overtake the u.s. as the largest economy in the world in 1919 the united states g.d.p. was 16 times the size of chinese g.d.p. now it is less than twice the size. low tech manufacturing still makes up the lion's share of chinese g.d.p. observers say high tech innovation is likely to drive beijing's economy to new heights. this. china's answer to silicon valley president she hopes this new high tech innovation will cement china's leadership in here under strain but western countries are pushing back against china's new homegrown tech giants. last year u.s. president donald trump slapped sanctions on chinese tech giant huawei and many european nations are mulling some of the actions of the security and competition concerns surrounding while wa

online shopping the company is currently evaluating the effect that the suspension of amps group's i.p.o. has had on business. and groups major shareholder. has more than doubled its profit forecast as sales rebadge from the coronavirus crisis the japanese automaker now expects to earn nearly $13000000000.00 in the current financial year the big driver of the up these folk is rebounding demand in china. general motors is also recovering from the pandemic with a rebound intimate for its chevrolet and cadillac vehicles the detroit auto maker reported a 72 percent jump in earnings for the 3rd quarter fueling a strong rise in g.m.'s stock price. now with parts of britain in lock down and once again the bank of england is stepping up support for the economy by ramping up purchases of government bonds the idea is that this will fund stimulus spending keeping businesses afloat as the krona virus continues to weak how fuck the economy. mandaeans london malaysian restaurant is empty yet again her business barely made it through britain's 1st spring lockdown and its economic aftershocks in recent

it seems that i.p.o.'s now are more often a liquidity event than capital raising event. we have far fewer investment opportunities for investors because we have fewer publicly traded companies. and we have fewer options for capital raising on the part of companies that file like that's not a viable option. my question for you, mr. chairman, just a couple of free thoughts if you have them. is there more that we can be doing in congress to create an environment where it is more attractive to go public earlier so that that is a viable option for growing businesses and it's a viable investment option for more investors. what else can we be doing to restore even more vibrancy to our public markets? >> thank you. thank you for the really kind words about the work of the commission. i think if the american people saw what the women and men here did in that month of stress they would be extremely impressed. your question is one that is kind of front of mind for me at all times. we have taken the jobs act, which was a terrific piece of legislation, which did facilitate the move f

as joe biden looks on course to win the us presidential election also coming up the world's largest i.p.o. was due today but beijing pulled the plug a very very short notice and take a look at what's behind this. a lot.

now, one of wall street's favor i.p.o. names for some reason. we just love talking about these types of companies. beyond me is taking a hit tuesday as it fell 22 percent, despite the news that it's now partnering with mcdonald's for a new make player, product line. what's going on there? well, i like your brand, it's one of my favorite subjects to be on need. i was a big proponent of back down around $75.00 and i personally am beat. and so i was thrilled to see him on the market that i can actually go to a restaurant and order some. and i think that i represent, although i may have been involved in this megatrend way before most people are racially, it's a megatrend in terms of plant based eating. so i don't believe that beyond meat is done. now it got a bit of a shock after the confusion yesterday with whether or not it was actually affiliated with mcdonald's on its nick plant. it did. i love what i read this mixed race class. and that was because the sales were very disappointing, after expecting it to be much greater. so i'm looking at the s

that comment a lot of eyes are also on china what's happening in china they've decided to halt the i.p.o. on moscow and so that's going to be. part of the central focus as well in the asian markets today all right if time allows a question to both of you starting with you andrea what's what's the best outcome for asian markets but we don't want to face all bets just yet either candidate could have it set of solutions and its own sets of problems as well but a lot of people out also a little bit jittery about of a trump when given the fact that he had a sort of up with the entire region in distress with how he has handled the china trade war with the u.s. of biden when has not stirred up so much inspiration either so it really is anyone's game i was going to be glued to the sets also out the night here as well in singapore all right and conrad very briefly what's europe you're rooting for if . if you talk to people here the only thing they want as a result what they don't want is really long days of waiting and discussions about a contested election or not ok i can hear you there was no i

also on the show it was meant to be the biggest i.p.o. in the world until it came screeching to a halt china is suspended for. a double listing. and much contest the construction project in the baltic sea finally gets court approval in the go for the famine. this is the value of business i'm going on in berlin thank you very much for joining us well we're in the final hours before polls formally closed in the united states and the business world is watching closely now traditionally investors that usually back republican candidates for president that's thanks to their support for lower taxes and minimal government regulation but historical data show market performance under republican presidents often don't match investor expectations here's a ranking of past administrations american markets and more specifically the s. and p. 500 saw a 210 percent jump under bill clinton making his time in office the most profitable for investors a similar picture for barack obama who presided over a 182 percent increase stocks 7 rose only around 50 perc

suspending billionaire jack ma fin tech company and just days before its potentially record breaking i.p.o. on thursday the shanghai star board said in a statement it will suspend the listing amid changes to the regulatory environment . australia's central bank has cut interest rates to a storage low of point one percent the reserve bank of australia is trying to lift the economy out of a coded 19 driven recession the bank has also ramped up on buying to lift australia out of its worst downturn in a generation. german lender bank is a planning to cut ties with the us president donald trump after the election according to senior bank officials with knowledge of the matter will seek to sell trump's $340000000.00 in outstanding loans bank executives are reportedly not concerned about his ability to repay them the bank has faced negative publicity from the relationship. our financial correspondent conrad who is and has more from frankfurt people at the bank particularly keen on the result of today's election in the us the bank has given donald trump's real estate business large. at the moment

also want to show it was meant to be the biggest i.p.o. in the world until it came screeching to a halt china was suspended for being a double listing. and watch contestant construction project in the baltic sea finally gets court approval if so go for the famine. this is the w. business i'm joined now on in berlin thank you very much for joining us. well we're in the final hours before polls formally close in the united states and the business world is watching closely now traditionally investors that usually back republican candidates for president that's thanks to their support for lower taxes and minimal government regulation but historical data show market performance under republican presidents often don't match investor expectations here's a ranking of past administrations american markets and more specifically the s. and p. 500 saw a 210 percent jump under bill clinton making its time in office the most profitable for investors a similar picture for barack obama who presided over a 182 percent increase stocks 7 rose only around 50

suspending billionaire jack ma fin tech company and just days before its potentially record breaking i.p.o. on thursday the shanghai star board said in a statement it will suspend the listing amid changes to the regulatory environment . australia's central bank has cut interest rates to as low a point one percent the reserve bank of australia is trying to lift the economy out of a covert 19 driven recession the bank has also ramped up on buying to lift australia out of its worst downturn in a generation. german lender bank is a planning to cut ties with the us president donald trump after the election according to senior bank officials with knowledge of the matter will seek to sell trump's $340000000.00 in outstanding loans bank executives are reportedly not concerned about his ability to repay them the bank has faced negative publicity from the relationship. our financial correspondent conrad who is and has more from frankfurt people at the bank particularly keen on the result of today's election in the us the bank has given donald trump's real estate business. at the moment $340000000.00

and in support with joe, the mumbai indians wrap up another i.p.o. for the title to drive their industrial expansion and european powers colonised, huge areas of the world rich resources. so free labor and fast lads were exploited in the name of civilization and wealth until the colonies decided they'd had enough . in a new 3 part documentary series, al-jazeera expose the history suffering and legacy of france's imperial past. not in tears french to colonise ation. coming soon, frank assessments, if american public opinion piece betrayed by social media platforms after november . what would be the preferred cultures if you believe that there corrosive to our democracy? one obvious solution is to break them up, informed opinions, look at his don't go any way. the protesters aren't going anywhere, either puts a bullet with a revolution. people all call in-depth analysis of the day's global headlines. who is it that's really out there on the street inside story on al-jazeera. half past the hour. this is the news hour. and these are the top stories more

robin hood is looking into a potential i.p.o. next year.latform is asking banks to pitch for roles in the offering. it could happen as soon it is a first quarter in 2021. it was valued around $11.7 billion. no official comment yet. unilever plans to boost sales to its plant-based meat and dairy products amid growing demands for healthier and nvironmentally friendly foods. it wants to harvest food waste aster than previously planned. canada's impact financial is buying r.s.a. insurance. it is teaming up with a danish ininsurer on the 7.2 billion pound deal. it is keeping its u.k. and canadian international operations. that is your bloomberg business flash. coming up, christine lagarde doesn't think the vaccine news will change plans. this is bloomberg. ♪ >> we are looking at the uture. education, healthcare, hopping. the physical and digital world. anna: that was the indian prime minister speaking with bloomberg's new economy forum. trading down .8% on the stoxx 600. the ftse down .4% despite some m&a pushing -- despite some m&a pushing the

and members of the industry, that are taking the longer view rather than simply chasing their i.p.o. or short-term profit, the organizations taking the longer view, have mostly the shared interests as cities like san francisco, as well as cities everywhere else around the world. and so i'm also grateful that because of staff and the sfcta and staff like julia are here, we actually have the staff still in order to step up our leadership an we've been doing with the cpuc, d.m.v. and our friends at congress. julia, i don't know if you wanted to add more or too much for the hearing. but this is the topic that we realize, despite all of the other challenges we're facing, we have to lead on. we're the only ones who can. >> chair peskin: let me just say. this is one of the profound issues of our time. so we've got time. and i also want to announce that the treasure island mobility agency hearing, after this, will be continued until december 8th. thank you, chair haney, for agreeing to that. so i know we have a board of supervisors meeting at 2:00. we're going to hear a lot more about a.v.s

and members of the industry, that are taking the longer view rather than simply chasing their i.p.o. or short-term profit, the organizations taking the longer view, have mostly the shared interests as cities like san francisco, as well as cities everywhere else around the world. and so i'm also grateful that because of staff and the sfcta and staff like julia are here, we actually have the staff still in order to step up our leadership an we've been doing with the cpuc, d.m.v. and our friends at congress. julia, i don't know if you wanted to add more or too much for the hearing. but this is the topic that we realize, despite all of the other challenges we're facing, we have to lead on. we're the only ones who can. >> chair peskin: let me just say. this is one of the profound issues of our time. so we've got time. and i also want to announce that the treasure island mobility agency hearing, after this, will be continued until december 8th. thank you, chair haney, for agreeing to that. so i know we have a board of supervisors meeting at 2:00. we're going to hear a lot more about a.v.s