two ipo's at the bottom of the hour. david ingles here to look at some rate of light for investors in china. 300, in case you missed it, 3368, best day in over two years. positive support out of beijing is the headline when you look under the hood. conditionsquidity contributing. what happened overnight when it comes to the pboc encouraging the bank not to engage in herdlike behavior when it comes to the currency. that leading to dollar china there.e were looking at futures. , buttle downside from that we are looking at gains across the asia-pacific, so a risk on session. hang seng futures on the way up. it does look like we will get some gains at the open. one of the thing we are watching our trade numbers out of china as early as 60 minutes from now. this chart is on your gtv library and toshi the trade relationship between the u.s. and china. yes, a headline number, but what you want to watch are i lateral trade flows between the two bank, monthly numbers here. a bit awkward when the tariffs kicked in, reported the hi

people were calling it a zombie ipo. mark: if you think about the required disclosures to get listed, and how all of saudi aramco is intertwined with componentsh leveled within the royal family itself and the government, it would make it very difficult to see that actually go through. and it has been kicked down the road multiple times. we've always talked about how a debt offering could be in the works because it might be easier. some disclosures don't have to be as well thought out and planned in terms of what you have to disclose. it is something that was highly likely to happen at this point. amanda: the implications for saudi arabia domestically could be serious. this was seen as a way to raise revenue for a sovereign wealth fund to diverse away -- to diversified away from their sole source of income. what does this mean? mark: that they could potentially go towards the debt market and private placements, joint ventures they've ventured aso with entities such china. they've been able to raise funds and bring them in

ipo's 350 million. if you think that to 1999, it was an average ipo size of 105 million.urity level of these companies is different than it was a couple decades ago are we have the last tech ipo boom versus where these companies stand when they go out. emily: at the same time they just raised $400 million at a valuation. i just recently sat down for an interview and stewart butterfield said he is in no rush to go public. he said that is the most likely outcome, but will we see more of that too. jackie: we are really fortunate ,n the united states especially. how robust are private and public enterprises are up it we attract more companies from around the world than any other exchanges around the world. we have robust private equity, venture capital, large corporate to created venture arms and the list goes on and on. just individuals who are willing to make investments. i think we are going to continue to see funds pumped into private and public this year. alex, i knowry own you will keep us posted. trucking industry is getting a shakeup from a company being compared to b

. >>> saudi aramco is forced to confirm its ipo is on track after reports suggest that the record public offering has been scrapped. >>> ryanair shares take off after the irish pilot's union says it reached a deal with the budget carrier over a longstanding labor dispute ♪ >>> all right. good morning just to kick things off, we have some eurozone pmi data coming out for the composite manufacturing and services we have the flash estimate for the composite pmi number for august coming in at 54.5 and that compares to an estimate of 54.4 as far as the flash manufacturing is concerned we also have the services number come in at 54.4 versus consensus of 54.4. both services and manufacturing numbers are coming pretty much in line. the composite again is a tad weaker than expectations coming in at 54.4. the poll was 54.5. last month 54.3. in line with expectations. perhaps a slightly stronger momentum than last moment. we will be watching these numbers closely. q2 was a bit of a weakish quarter for eurozone economies, particularly for france. we saw that turn around with these manufacturing and

at the, but two ipo's bottom of the hour., a quick look at how markets are trading. you can take a look. green across the board, the nikkei up the most by about 0.3%. haidi: taking a look at asian futures. singapore, quite a bit of upside overall. this is bloomberg. ♪ two, down and back up. our phones are more than just phones. they are pocket sized personal trainers... last minute gift finders... siri: destination ahead. and discoverers of new places. it's the internet in your hand. that's why xfinity mobile can be included with xfinity internet. which could save you hunreds of dollars a year. plus get $150 when you bring in your own phone. its a new kind of network designed to save you money. click, call or visit a store today. ,ishaad: of thing the anti- trade tensions rising again. washington confirming tariffs on $16 billion of chinese goods, beijing val's to respond. to avoid a herd mentality in the currency market. asia-pacific stocks slightly to the upside after wall street close near a fresh all-time high. i am risha

they were rumoured to be the largest ipo since alibaba, but rumoured to be the largest ipo since alibaured to be the largest ipo since alibaba, but priced at the low end of the market range. so it is actually only the largest ipo since china postal gap saving bank. they have slumped since the beginning of the year. china tower generate most of their income in chinese yuan, making them subject to the cnh — us exchange rate. then there are the tangled loyalties when it comes to china tower. one would expect them to have pricing power, but their three largest shareholders generate 99.4% of the revenue. so there is a question about what their future pricing power will be. and let us that the big brands like ikea opening up in india, samsung with their first opening up in india, samsung with theirfirst mobile opening up in india, samsung with their first mobile phone, opening up in india, samsung with theirfirst mobile phone, a chance for investors to look at that. you expecting? ikea setting up for the next 100 years in india and take a sta b next 100 years in india and take a stab at the

. >>> and ipo in jeopardy. the saudi king hitting the pause button on saudi aramco's plans to go public it's august 28th "worldwide exchange" begins now. ♪ >>> good morning welcome to "worldwide exchange." i'm dominic chu. let's get straight to the markets. stability in the futures side of things the dow opening up by 17 points. the s&p just about flat. the nasdaq up by 9 on the treasury side of things, those ten-year u.s. treasury note yields are moving a bit ten-year note yield at 2.85% the two-year at 2.65%. in asia in the overnight session, we were seeing a bit of a reaction to some stuff happening on the afraid front. the nikkei in japan just about flat the hang seng up a quarter percent. the shanghai off by 0.1% in europe, as trading just kind of gets going, here a check of what's happening over. there the dax just about flat. the ftse 100 up by 0.25% the ftse mib off by 0.10%. here's a look at commodities and currencies oil on the wti side up about a quarter of a percent $69 there. the euro at 1689 gold

ipo on hold.icn buying a stake in a chemicals company with all the bond issue disclosure that goes along with that. is ready to hike again if the economy stays on track. president trump denies michael and jpmorgan is said to dismiss about 100 workers in its asset management division. find out more about all those stories on the bloomberg. chinese e-commerce giant alibaba delivers earnings midday u.k. time. have an hour later, the latest from the ecb meeting and the jackson hole meeting takes place in wyoming and gets underway later on today and runs into the weekend as well. to focus on that tech story, we mention some of the earnings coming later. alibaba is next to report with first-quarter numbers you before the u.s. open today. as there been any impact from issues around trade and the yuan on these businesses? tim, good morning to you. what are we expecting to see from the alibaba earnings later today? fix your on your, is the fiscal first-quarter and we expect to see the top line look really

is it ahead of the ipo next year?was $181 million, a narrow loss compares with the more than $1 billion it was last year. i think the thing with uber and the reason they want to be quite public about the numbers is because they are a company that is absolutely based on brand. if they can maintain the massive brand presence and domination that they have in this particular space, then they can make their ipo work and they can make their ipo work and they can make their ipo work and they can get out with a return not just for the investors that started, that have already had a return, because they've had some kind of secondary markets already, but for the people who got into the business more recently. the fact is their brand presence is so much greater than anybody else. if i told you that mercedes launched viavan in london in april. i missed that one! they need to sack their pr. they might have heard of left, there's a few others, caddie and gettaxi. didn't uber get in first or better? better with better technology. cr

how does a home fitness startup fit into the broader tech ipo market.ut first, apple's milestone moment hitting one chilean dollar market cap. how big is too big? it will drag tech names out of funds that have held them for years. does tech have too much: u.s. equities? amazon outspent microsoft and facebook is not far behind apple. joining me now, our guest who covers -- and on the phone, toni covers apple and tesla. we will get to your exchange with elon musk in a moment. what i want to talk about this reclassification and what it means. walk us through how the s&p weighting will impact the tech names? guest: tech's 26% of the s&p 500 in terms of weighting. telecom is 2%. what s&p wants to do is create a broader communications category. and what that means is names like facebook and alphabet will slide out of the tech sector and into this communication center. you will have names like netflix that will also slide out of consumer discretionary and into the tech sector. there will be reshuffling to the point that the communication sector will be 10% of

a $400 million ipo in its hong kong trading debut.ascletis and our special guest. joined by the founder of this pharma company. he could be a billionaire by today, based on the applied market value of this company just listed. thank you so much for joining me. it is an exciting day for the and the stock exchange, as it is the first company to list under the new rules. excited, to be the first company ever listed on this new stock exchange. we are so excited. sophie: prior to this, you were considering china, united states as potential venues. why did you choose hong kong? jinzi: ipo's one of the most important events for a biotech company. we want to evaluate the capital markets and decided to go with an ipo in hong kong. hong kong has international access to the capital market. we were thinking about our strategy as a biotech company, focusing on china and going global. you are building a product pipeline. what are you hoping to do from here on out? jinzi: the are an innovative rmb company -- we are an innovative rnd company. we focu

an ipo on hold.audi arabia said aramco is lifting -- listing, we will have a quote at a time of its own choosing. and 10 years on as we approach the anniversary of women brothers collapse, it is the crisis -- is the crisis triggered close to being over? we will speak to the author of "crashed." this is how european futures look right now. you can see a little softer but not by much. there is a lot of action to happen over the next couple of days. we have jackson hole to get through, the pmi data out of europe is worth paying attention to. there is a lot of sentiment toward europe right now. is that justified by the data? it is soft data but we are -- it is worth paying attention to. we had that interview coming up with esther george. that will move the dollar. that is where we sit right now, fairly flat. it is a ex dividend date for london markets. let's show you what is happening with the gmm. the australian story is in focus. malcolm turnbull's future hanging in the balance. equities down by .3 of

putting a fork on the ipo.ording to people familiar with the matter, it does not mean the plan share sale is canceled, just that it has been delayed. jpmorgan's firing about 100 workers in its asset management division. the cuts range across several businesses in the group. the asset management, 4% in the first half of the year. that is your bloomberg business flash. caroline: timeout for the stock of the hour. some investors are souring on the shares this afternoon. romaine bostick is here in the details. yes but we opened this morning on an all-time high. a lot of enthusiasm and i want to show you why. a company that was very popular in the retail sector for a while and it fell off the map for a little bit but the last recorded, it has done get busters. quarter, upent about 13% for its anthropology brand up about 17%. optimism.rowth and what happened as the day went on, shares started to sell up a little bit. 36% this year prior to today but about 152% from last year. this week from last august. it was on a g

joining us, our bloomberg ipo and tech reporter.the last several months trying to tackle this market. what has been so unique about the last six months? jackie: technology has been exceedingly active, and i know we have been waiting for this to come back. the last couple quarters have been exciting. we are definitely seeing technology companies themselves, and tech businesses in general really eager to get out. i think a lot of this is driven by the fact we have been in such a strong economic market now for a number of years. everybody wants to access this window. emily: will it continue? q1 are going to be very busy markets for us. emily: i am curious. the bull market has been going on so long, conditions have not really changed outside vehicle in 2015 --the hiccup in 2015. why are companies deciding now is the time? i think back to last year when everyone was saying, it will be next year. what is different? jackie: valuations were high, and now they are almost back up to that level again. folks are saying, what's the chance this w

xiaomi's ipo turned out to the anticlimactic.esday its first earnings report seems to be anything but. jumped up 68% to $6.6 billion. orchestrate a turnaround of this magnitude? so mark, how did they do this? >> it comes down to smart phones, right? there is showme saying i think -- xiaomi is taking a different approach. we can sell a ton of phones if to we sell them close to what they cost to build. that means we are not passing costs to consumers. takell things cost, maybe losses away, but in the long-term set ourselves up for success. emily: what does this mean for apple? xiaomi is beating them in places like india. does stronger xiaomi mean a threat to apple? >> i think the biggest threat in the u.s. is same some. samsung. a bigationally xiomi is player. competition.ious it is a clear threat to apple. a much bigger threat than people thought it would be a couple years ago. emily: what else does xiaomi have to prove? there are questions about whether they can turn themselves into this service company they have promised to beco

the ipo is at the centre of crown prince mohanned bin and salman's ambitious plan to overhaul the saudi economy. on the bbc news website a danish vessel is breaking the ice on the arctic sea route, aiming to become the first container ship to tackle the usually inpenetrable route. melting of arctic sea ice has made the journey possible, and finally in the ft pennies used to be considered lucky but debate is waging on theirfuture. a report says most copper coins are only used in a single transaction before leaving the cash cycle presumably for a coinjar or down the back of the couch. should we quit copper? with me isjonathan charles, director of communications at the european bank for reconstruction and development. let get stuck into the. we have spoken it about this already this and no deal preparation, the speech that will come today and the various documents that we will be reading through quite soon. the independent says it risks a new brexit row with brussels, that is their take on it. they say that just by publishing these impact assessments of what a no deal would mean that that

, big ipo, has not popped in the ipo, big ipo, has not popped in the way we would expect.ke on the markets. now, we all need a bank account but depending on where you live it may be more difficult to open one. in brazil, five big banks control 90% of the sector, but technology is changing that, and new companies are disrupting the market. nubank is one of them — it's a digital bank and credit card provider that offers the services of a traditional bank but without all the fees. the bbc‘s south america business correspondent daniel gallas caught up with the co—founder david velez in sao paulo and started by asking him why he decided to change from investing in companies to creating one of his own. a lot of the time, for a very long time, i was working here in brazil, and every time i looked at a company to invest, at the back of my mind i was thinking, is that an interesting business? why is that entrepreneur having more fun than i am as an investor? after looking at a lot of different industries, i became very interested with banking. brazilian banking is very specific, br

. >> plus check out this stock it is surging since the ipo in march and traders are still piling into the name it's a mystery chart and we'll sll you what it is and why it iso popular with traders and there's much more fast money right after this break we all want to know about the new thing. you know, the new, new thing. with xfinity's retail stores, you can now see the latest. want to test drive the latest devices? be our guest. want to save on mobile? just ask. want to demo the latest innovations and technology? do it here. come see how we're making things simple, easy and awesome. plus, come in today and ask about xfinity mobile. a new kind of wireless network designed to save you money. visit your local xfinity store today. >>> welcome back to "fast money," we have a bitcoin alert and it is a big day for the bitcoin universe as the chances of the etf just took one giant leap forward leslie has the details >> hi, the company is called bakkt, and this start-up will help bridge digital currency to the masses backed by the parent ice, and to start, bakkt will provide trading versus f

we are seeing a high degree of ipos than 2014.icted a very robust third-quarter or fourth quarter. in the broad spectrum a lot of software companies are going public. you have some of the larger ones taking longer to go public which is part of the process of getting access to private capital and solidifying business their business plans, and then you have long-term companies. you mentioned one in particular but i say those are few and far between. if it is right for the company, they have the ability to do that. emily: lastly we saw a huge rise in private transaction like this pre-facebook and in there was a big crackdown. >> that was a bit more of a mechanism. we want in activity outside of the company sponsor program. if you look at how many hundreds of millions of dollars of private rounds have been raised this year 2013 is only 26 all year. you are seeing a lot of private capital that will sustain the marketplace for quite a while. evaluations can change and can slow it a bit, but with all the private capital, i think you will

you compare this to the ipo that we have seen this year. it would be huge.his is as big as all of tech ipos all-in-one. $82 billion of new market cap created with technology companies going public. this one would be 70 odd billion dollars. it undoes 73 deals. that is what happens when the statistics are shopping. tesla went public on 100 this -- 100ish million dollars. it's a valuation has grown 50 times in the public market. scarlet: that is a great scope onn of size and what has low would look like if he took it out of the public market. what was your reaction when you heard about the tweet the elon is considering taking a private in the funding is secured? what would this look like? rett: one of the things we think is interesting in markets like this is there are a lot of good reasons to go public. you go public because it makes you rich. in terms of the stock, you can buy stock -- my house. -- buy a house. elon wants to get rid of a lot of the things that come with being public. he doesn't like it when people bet against him. what is interesting to us is

you are just a smaller ipo.t seems like the advantages are leaning more toward going first and getting some attention of its own instead of being an afterthought to uber's huge ipo. emily: lyft has had a cfo for a cfoe, uber just hired there , could they get their first quicker? eric: when we spoke to their cfo, a formal merrill lynch banker, he was not even willing to commit to the timing until he looked at the books. i spoke with the ceo later said we are still on track and like being public, that is going to -- it is a heavy lift to get to the late 2019 ipo for uber. cfo and a lotad a of its key executives in place. emily: let's compare the balance sheets and what we know. you reported detailed numbers on uber's financials. how does that compare to what we are seeing at lyft? eric: i mumble scared because we know so much more about uber's financials as they have been disclosing them quarterly. we get a very good sense of their billions of dollars worth of losses, but they have been pretty transparent. lyft is

ipo is s a reason lackluster.n as long that lasts and they're going to have to pivot that into a services business z another thing to take a look at is that numbers, theyt the reported on property but it's a $1 billion operating loss and the reason it came out as a profit because of how they adjusted existing stock holdings but much better than what woe wo have been expected well, looking ipo situation. so what samsung unveiled how do you expect next year in sales out?lay and. >> elsewhere, and i think apple is going to have compelling officers this fall and they have el that is phone mod more thane about $500 these phones so we're playing in two different playing fields. high end and one, low end. us.hank you for joining >> thank you. >> alipaba reports it's this ial quarter date and report on what to expect. mroomberg says the chinese e commerce giant probably ustained revenue growth in the and that is only and inventory ry t sts and supermarkets and tha will likely pressure growth margins. the consolidation of

. >>> saudi arabia slamming a report saying that it is cancelling the world's biggest ipo. >>> hawaii on high alert a category 4 hurricane bearing down. >>> apple booting a facebook security app over privacy issues >>> and we continue counting down to our week-long series beat the street. today another fund manager is up 28% just this year he'll tell you what's driving the big-time returns and give you some ideas on this thursday, august 23, as "worldwide exchange" begins right now ♪ >>> good morning welcome from wherever in the world you may be watching. i'm brian sullivan despite that new round of tariffs kicking in, despite the trump news, cohen news, paul manafort news, the markets are not reacting too negatively. dow futures are mildly higher right now. call them flat or up 4 points. s&p and nasdaq about the same situation. bond yields follow that trend as well they are unchanged by no means do we think it will be a dull 48 hours not only do we have trade talks under way, new tariffs kicking n but the jackson hole fed conference is tomorrow we have a huge lineup of fed eds for yo

the saudi state oil producer is set to delay its ipo to focus on buying a stake in a chemical giant. what is the change in strategy mean? and alibaba reports. how do they get on? this is bloomberg. ♪

had a wildlyny successful ipo in june.res were priced at 240, opened a 400 and have more than doubled. today was their first earnings report. first-half numbers and all arrows seem to be up for the company. payment process company. up a whopping 43% to 70 billion euros. up.revenue was not only the sales number, but profitability is up. growth margin, etc. the big question for the company is if the stock can go up more after the successful ipo in june? guy: talk me through the chipmakers. >> we have had some concern in the industry in recent weeks, and now another negative set of data points from china. acoustic components to apple and the samsung missed estimates in the second quarter. the divide between the bulls and the bears in this industry seem to be growing. we have ams, one of the highest rated in europe, yet more than 20% of its stock -- free flow shorted. -- itata point from amc will be a day for the bears. i would watch ams. guy: keep an eye on the car stocks. we are back to the tariff story. running us around so

it's like the ferrari ipo. that came about 20 times forward.t's trading now at 33 times forward that was from fiat chrysler in 2015 so it could be a big price tag >> in my garage is a db11, it's a match box car, but some day, i hope aston martin, what have you heard? it's a sexy company. ferrari was a sexy company that doesn't always mean the stock is going to do well because you and i and a thousand other people would love to have one. >> look at this. this is fascinating. volkswagen trades at 5.7 times forward. it owns beugatti, ma'alamborghi, porsche. if ferrari can trade at 33 times forward, you can see what aston martin wants do, but they also want to get ahead of the pack. as we know internal combustion engines are under pressure from the ev engines the biggest producer is tesla. look at that company's valuation, above that of ferrari. if aston martin can cap into a bit of that, if they can double, triple the level of the oems, the volkswagens, the fords, they will have a tasty valuation. >> named after one of the founders and a road in h

including the alibaba blockbuster ipo and the tower.e picker is here as well lead it off leslie. >> i think a good way to start this goes back to the entrepreneurship discussion we were just talking about, the number of public companies in america has been on the decline for about 20 years now sitting at roughly 3,600 at the end of 2017. it's estimated that twice that number is inventor backed and private equity backed companies. we have seen three iterations of the jobs act trying to make the country more hospitable for ipos what can be done if you were talking to the jay clayton the sec what would you tell him the companies need to get into the public markets. >> we have seen good strides out of the sec so far including more companies in the ability to file confidentially so companies have a little bit more air cover if they are wanting to test the markets before they fully alert the market of their intentions to be public that's giving people more flexibility i think is helpful but i think the other reason is the private capital mark

. >>> chinese start-up nio looking to go on the ipo for now the company isn't planning to sell its cars outside of china and nio is backed by tencent holdings >>> now to the latest story out of turkey and the rhetoric from their president. sara eisen joins us from fx currencies >> it is calmer out there. certainly the lira is up after a brutal beating over the past few days first time up in about a week.

probably announcing a big ipo like the aramco ipo was a way to achieve it.ne of the biggest proponents from the very beginning was the valuation that the kingdom had in mind for aramco and the valuation that the investors had in mind was very different. the kingdom was talking about $2 trillion, and investors were talking about half of that money. and that is one of the reasons probably why we have seen that continuous delay and the situation being basically on hold. julie: so, ashley, took him back to the idea of what now? is there any kind of affect on the oil markets as a result of this, or an effect on other oil projects' ability to raise capital, perhaps? ashley: no. i don't think this has really impacted oil markets because oil markets didn't really expect this 100% to go through. there has been so much doubt. i do think it is definitely a positive that aramco is following through on its plans to diversify in terms of getting into other chemicals and spaces. that is definitely a positive sign for the stability of the company moving forward. julie: ok,

the stock in reverse after ne neo plans a $1.3 million ipo bitcoin breaking above 7,000 and the short against bitcoin futures. could this mark the crypto bottom >> canopy and the rest of the candidates space on a high and showing no signs of coming down. before you buy, tim seymour says the erare three things you need to know. wye are live at the nasdaq marketsite in times square much more "fast money" still ahead. who would have thought, who would have guessed? an energy company helping cars emit less. making cars lighter, it's a good place to start, advanced oils for those hard-working parts. fuels that go further so drivers pump less. improving efficiency is what we do best. energy lives here. >>> welcome back to "fast money. we have news out of washington for more on his developing story. >> president trump attacking one of the nation's most high-profile technology companies, google. the president posting this video to his twitter account explaining that he believes that google is guilty of bias against him because it promoted president trump's state of the union address on its ho

cheryl: what can you tell us about this possible ipo?t uber continues, lyft has start today move forward with process for ipo according to bloomberg lyft hired ipo adviser group to work with management as the start of the process. the company reportedly plans to begin takes offers from banks as soon as next month targeting march or april for the listing. lauren: 2019. this is a political food fight, it's out in california and targeting my favorite west coast burger chain, what's going on? tracee: a lot of people will have a hard time boycotting in and out but that's exactly what some democratic lawmakers in california want to do calling for a boycott of that popular burger restaurant in and out after learning it donated $25,000 to republicans ahead of the midterm elections, california, democratic party chairman eric tweeted in part, let trump and his crony support these creeps, referring to in and out, in a statement to the sacramento in and out, calls for boycott were unfortunate add ago, quote, we believe that bipartisanship support is

coming up, charles li on a rather large ipo as well. stay with us.ancine: this is "bloomberg surveillance." >> let's get the bloomberg business flash. , starwood property trust expanding beyond real estate. starwood lands to buy a general electric energy finance business. 2.6 billion almost dollars and includes $2 billion in loans. has cut debt to below target. it failed to increase its interim dividend and did not expand existing buy back when rivals are paying out more. that made leave the door open to more dealmaking by the glencore ceo. britain's prudential focusing on asia is paying off. it says first-half profit from asian operations soared 14%. spinoff preparing a that would separate to operations from faster growing markets elsewhere. we spoke with the ceo. >> very healthy client relationships, 15 million clients across markets, the wealth business doing well. it is all doing what we hoped it would do right now. >> that is your bloomberg business flash. tom: thank you so much. it was extraordinary last night to see the county by county, urban

but that's just one part of the equation when sown nose came public last week, the ipo priced it 15 bucks. that's well below the deal range of 17 to $19 that suggested there wasn't a massive appetite for investors who had been pitched by sown nose best bankers for weeks. once the stock started trading, i got to tell you it was last thursday, it performed much

china now has many more ipos then we do. it's a real crisis of the economy. the solution is what i stated. when everything opens up again and we get a new economy. new world with new money. new internet architecture. new security. new privacy. new property. you know, you own your own data again. >> we'll get into life after google in a minute. your last book was about bitcoin. are you still a fan? >> i'm still a fan of bitcoin. the technology that bitcoin introduce. i'm a fan of the revolution and instigated. i think bitcoin itself faces a crisis. a lot of big holders of bitcoin are going to have to confront fundamental flaws in the model in order to carry this currency forward as a real substitute for gold which is what he thought he was inventing. a substitute for gold. it has since turned out that bitcoin lacks dimensions that gold possesses. gold doesn't have a cap. when you lose a nugget of gold it's still there. you lose a private tee and bitcoin is gone forever. the important issue for bitcoin in the future is recapturing the initial goal of the creato

saudi energy minister khalid al—falih said in a statement: "the government remains committed to the ipoptimum". a stock listing could value aramco at around $2 trillion, making it the biggest flotation in history. britain would take "unilateral action" in the event of a no—deal brexit to keep trade and transport flowing freely, brexit secretary dominic raab will pledge in a speech later. the uk government is due to publish the first in a series of notices advising businesses and the public what to do if britain leaves the european union without a deal. policy makers at the federal reserve are considering raising interest rates again soon, despite concerns over global trade disputes — according to the minutes of the us central bank's last meeting. they left rates unchanged in august after raising them twice this year. the latest minutes will add to expectations of another increase next month. and now — what's trending in the business news this morning. on the wall street journal, analysis on a stock market milestone reached on wednesday. wall street is now in the longest bull market in h

google taking a shot of its own back we'll show you what it did >>> another ipo on-deck, but can online surveys make you money? >>> and venezuela's last great asset may soon be taken over by a hedge fund, and with it the fate of the entire venezuelan economy. it's august 30th, and "worldwide exchange" begins right now ♪ >>> welcome from wherever in the world you may be watching. i'm brian sullivan that sitco story is one you have to hear to believe right now to the markets and your money maybe today will be the day the music died, so to speak. futures are lower. we're down about 75 on the dow nearly every day the last few weeks we were making a new high. right now the markets are down but again, it's early. futures could turn around as well all three major indexes are as low as we've seen in a couple days or weeks. ten-year bond yield is ticking higher to 3.87%. oil is one of the few things that is gaining this morning we're seeing a slight move higher in the price of oil when i say slight, 0.2%. bitcoin is down 1.5% that wild ride there for bitcoin continues to 69.36 we also need you a

we will look at the year of tech ipos so far.loomberg. ♪ ♪ face aapple and google brewing revolt over the apps store text. too say they are charging much. netflix is one of the companies trying to bypass the app stores. it could put a dent in apple and google's profits. we are halfway through the year and we have seen a number of tech companies hit the public market. dropbox, spotify, making their debuts. number of tech ipos in the united states will return to levels not seen since the miniboom in 2013 and 2014. how well the rest of the year play out? jackie kelly and alex barinka weighed in. >> technology in particular has been exceedingly active, and we have been waiting for this to come back here at last couple of quarters have been exciting. we are definitely seeing technology companies themselves and tech enabled businesses in general just really eager to get out. a lot of this is driven by the fact that we have been in such a strong economic market for a number of years, everybody wants to access this window. emily: will it

ipo of saudi ramco, which it obviously owns, they're not now making that money.h investment this saudi arabia investment fund can do but the key thing they're looking to do is invest outside the oil industry in saudi arabia. with tesla, of course completely away from that industry. there's a lot going on in here, there's a long way to go. elon musk doesn't care what he says and when he says it. kind of like you in that sense. absolutely. let's talk about vienna, the first timea let's talk about vienna, the first time a european city has been ranked the most liveable. we've been asking people at home to tell us what makes any city liveable, what about you? food, if you can get good food in any place, that's number one for me. you're a political —— political and social stability, is that important to you? not if the food is good. crime? are we talking about the number of fast food places available? manchester saw the biggest improvement of any european city, rising 16 places to get to 35 and its ahead of london in the rankings. australia has been top, melbourne, ha

khalafrabia is set to the aramco ipo.ed off domestic and international listings according to reuters. the giant energy company that produces 10% of the world's oil in fan nine says. -- in finances to this is huge because they were supposed to be rigid -- raising more than $100 million for a southern wealth fund. david: this is a central part of the crown prince's plan to redo the academy. true, it would set them back. at the same time, not a complete surprise. it got delayed and delayed. they do not pick the bankers yet. asking when this would happen. shery: this was expected to produce hundreds of millions of dollars in fees to the wall street banks are we have not confirmed the report yet budget writers saying saudi arabia is set to call off the aramco ipo. be a huge deal, especially for mohammad bin salman, the crown prince who is spearheading this. the company would be worth at least $2 trillion. david: it could leave a hole in their budget in the kingdom. we are going to turn back to tesla and elon musk. tweettimate

can he still pursues is vision 2030 plan despite the ipo?y will get a valuation off of the investment. i think investment into the in chinaical industry or here in america is the way to go because this is where the underlying shift of the fundamentals are moving toward. a natural gas commodity or industry. this is where the growth is. it is an investment in the next energy, which is going to be supporting crude oil. essentially an energy, which is going to investment in natural gas. certainly, we will give them a foundation to continue outreach programs. ramy: with regards to what is happening with reports. people are saying this could still happen. do you agree? at what valuation? >> never say never. the valuation could certainly happen. plan,hey introduced the this occurred at the beginning of january 2016, when crude oil prices were about $25 to $30 a barrel. we have had an increase in the price of crude oil. they bought themselves a more to keep inhey have mind that they are playing a game of extreme risk. crude oil was to cheap. barrel.

>> we are in the busiest summer and hong kong's ipo history. this summer we have seen 19 billion worth of deal pricing so far. it is only getting of august. part of the reason is that it was the market was really booming six to eight months earlier and people saw that the deals priced in were such a success and then preparing for an ipo takes time. by the time it comes the market is no longer holding up. that is part of the reason we're seeing so many deals come at a time. am -- [indiscernible] >> they just have to go with it. rishaad: thank you. up, a look at one of the key components in electoral -- electric vehicles. that is next. this is bloomberg. ♪ rishaad: this is bloomberg markets. let's have a look at cobalt. it is seen as key for the rising demand for clean energy. is the largest sor -- source of mined cobalt. it is a critical component in the rechargeable batteries that power electric vehicles. cobalt demand is jumping by at byst a thousand percent 2040. that is what we are looking at 's.we see the growth of ev demand ising at how fo

. >>> since 2002, this company has been connecting the home to the sounds consumers crave after an ipo, will the smart speakers of sown nose be a smart investment >> whenever a company comes public with a recognizable brand that many of you are probably familiar with, i like to call a little game called know your ipo, where we try to figure out whether a business with a good product also has good stock. the truth is these are two very different things in a lot of different cases. so what do we make of sown nose, the maker of smart home sound systems that came public to great fanfare last week, even as the deal's actual reception was mixed. let's talk about what sown nose does i know we've got a lot of aspiring luddites in the audience they make home theater speaks, and all sorts of related components a little less than a year they launched sown nose one, the first voice enabled smart speak were alexa built right in then last month they rolled out the sown nose beam, a voice controlled home theater sound system you might think this stuff is totally commoditized, but get. this sown nose

it was a pretty underwhelming ipo.y will look to see if they deliver on their original ipo promise. we are not only making smart phones but selling services and apps and all sorts of things to the users who buy those smartphones. they will be keenly focused on what percentage of revenues are coming from internet services versus just smartphones to make that argument. how competitive is the landscape shaping up to be? shelly: it's continuing to get even more competitive because the overall global smartphone market is not growing as fast as it was in some countries. it is actually declining. it's getting even more competitive for companies like xiaomi. your seen this play out in emerging markets like india where xiaomi has been very strong at all sorts of smartphone makers are going after their growth there area and -- there. francine: anything specifically you are watching for results? market share, pricing, anything that could counter the negativity after the ipo? shelly: because the stock is so highly priced, people w

preparations for ipo have run into headwinds including where the ipo actually trade which exchange getsrice, saudi arabia has been looking to diversify away from traditional source of revenue which is oil. wall street journal says that it can sell a stake to china. all right, facebook data security app has been pulled from apple's app store, apple says the service violated data policy, reportedly tracks and analyzes uses activities outside of facebook apps, meanwhile new study say that is google is collecting data even with android phones aren't being used. the university found google android phone passes data with google server, 14 times an hour, shares of facebook are down about 2% for the year, shares of google parent alphabet are up 16% so far this year. they are watching, they are tracking, maria. maria: even when the phone is not on or the app is not open, incredible. cheryl: even if the browser is open, they're tracking you. maria: amazing, thank you, cheryl, disney offering hourly workers a major perk, cashing in, chris hemsworth highest paid actors, number one wasn't even in a

we will get you ready for today's big ipo at the nasdaq.less speaker company sonos and don't miss our interview with the company's ceo, that will happen at 8:00 a.m. eastern time we'll look closer at casino stocks, some of the biggest movers this morning. stay edtuned. t right our bond is fraying. how do we get back to "us"? the y fills the gaps. and bridges our divides. donate to your local y today. because where there's a y, there's an us. ♪ it is such a good time to dance ♪ ♪ it is such a good time to [ laughing ] ♪ scoobidoo doobidoo ♪ scoobidoo doobidoo [ goose honking ] ♪ [ laughing ] a bad day on the road still beats a good one off it. ♪ progressive helps keep you out there. >>> welcome back sonos about to make its public debut. we'll have the ceo in a bit at 8:00 leslie picker has more on the sonos pricing. good morning >> slightly less demand than they were expecting with this deal sonos pricing its initial public offering $2 below the range it had been marketing to investors. that puts the size at slightly more than 2$200 million

a more global presence. >> all right thank you.co, there is a school thought that in advance of the ipohey were keeping energy prices higher, so now the question is do they pump for cash flow. >> right. >> and we'll find out if that was true with that speculation. >> in other words, do they bring on more supply for more cash flow and that lowers the price of oil because there's more supply i interrupted you, apologies. >> first of all, you've seen saudi arabia in recent weeks actually hold supply secondly, this has been known by the market i think you're absolutely correct in stating that the market didn't expect that they were going to be going to ipo when they delayed it everyone sort of thought that it had been called off so i don't think this is a negative surprise to the market beyond what people already expected. >> crude actually on a three-day winning streak let's go to futures now. it's attempting to turn that $70 level. courtney reagan and our futures now crew has more on oil hey, courtney. >> thank you, michelle the crude rally gaining steam, up almost 3% after a drop in inve

what do we expect after its high-profile ipo? are really going to be looking for is guidance. late june has been touting this internet ecosystem. they are more than just a hardware maker. he says they are an internet services company in the making, but again, going back to that ipo in early july, that was the biggest concern, especially since they priced the ipo along with those bigger internet firms , valuation that was a bit overpriced. we have seen that as well with the stock price instead. the stock has vacillated right around the ipo price of $17. it went up as high as 21.55, but so inwn in the $17 range, just about five weeks time, the stock has really roller coaster do bit, but it had not broken out, and that stems to the concern that investors have that this is a company that has not necessarily broken from the maker of its handset moniker, because 70% of revenue ,rom xiaomi comes from handsets late june over the long-term. he is a billionaire chairman. he says over the longer-term, we are going to be an internet services

i should clarify that when we say ipo it is potentially going public because it is the most highly valuedalk about the markets generally because i was talking about european market is opening in positive territory. what are investors thinking about and what is on their minds? today we have got to put into context what happened over the last couple of days. you mentioned the idea around renewed trade talks between the us and china, which is obviously a positive. at the forefront is another part, which is turkey, which has been on the mind of investors for some time. we have not yet seen a solution and it is a very interesting game of two very strong man, president erdogan, and president trump, and we will have to see how they resolve that crisis. for the time being it seems that there will be ongoing pressure on there will be ongoing pressure on the lira, although the central banks have tried to step in. and the core issue here is that there is a lot of foreign currency denominated debt in turkey which has got to be serviced by earnings that are in lire and thatis by earnings that are in l