investing heavily in southeast asia and into brick and mortar under its new retail concoction, and jack ma sizes up one of his chief competitors. jack: i think tony did not have any experience in mobilization. -- globalization. not like us. ♪ stephen: having conquered e-commerce, alibaba is investing in areas like cloud computing, logistics, digital entertainment and even brick and mortar retailing by marrying the online and off-line worlds through its supermarkets, as well as the cashless and cashier less convenience stores. it begs the question, is alibaba moving away from its asset light model? >> when you are young, tiny, light model is good. when you're strong, big, you need heavy things. but today's alibaba size, you should not leave the heavy model to the others. it is something you have to do, because the infrastructure keeps building up. you have to invest. we want to change the consumer experience because you have this growing middle class in china, whose expectations and demands are being elevated. online, off-line, we cannot separate. they need to do the transformation. all the

and jack ma sizes up one of his chief competitors.ave globalization, not like us. ♪ ♪ having conquered e-commerce, alibaba is prompting -- broadening its ecosystem by investing in cloud computing, logistics, digital entertainment, and even brick-and-mortar retailing through its supermarkets as well as the cashless and cashier-less convenient stores. it begs the question, is alibaba moving away from its long standing model? big,en you are strong, think about it. you need having things. for today's alibaba sites, you should not leave the other model to the others. you have to do it because the infrastructure is building up. you have to invest. we want to change the consumer experience. you now have this growing middle class in china whose expectations and demands are being elevated. >> online and off-line, we cannot separate. they need to do the digital transformation. formatschinese retail will be upgraded or redefined. i think of it as our baby. we want to incubate a successful model. we try to empower our off-line partners to upgrade

our exclusive interview with alibaba founder jack ma.coin's magical summer is coming to a crashing halt. the cryptocurrency has dropped more than 26% since hitting an all-time high of nearly $5,000 on september 1. the drop is due to the moves by china's policymakers restricting the trading of bitcoin and outlawing the initial coin offering. prices have been recovering somewhat. the market as a whole has taken a hit over the past couple of weeks knocking about $50 billion off the total of cryptocurrencies. jamie dimon shared his thoughts about the state of the cryptocurrency market. >> for bitcoin, my view is you can create a significant number of cryptocurrencies with the central bank behind it. it is probably going to become ubiquitous. cory: brad garlinghouse and sonny singh. this move in china has backed up everything you have been telling me for the past three to four years. then we saw a big selloff. you might have expected a selloff at some point. it has been dramatic. what do we know about bitcoin's influence in china? >> china is

stephen: up next, alibaba's new york-listed shares are on a tear, but does jack ma think we are headednother popping of a tech bubble? jack: if you are not that greedy, if you are not that stupid or crazy, it is easy to survive today. ♪ stephen: alibaba was founded at the turn-of-the-century, amid a global rush into dot coms. alibaba even opened an office in california and was ready to ride the wave. jack ma, though, saw the frothiness of other business models and correctly predicted the dot com collapse in 2000. stephen: are we facing a similar kind of tech bubble right now with these billion-dollar unicorns and the inflated tech scene? are there any similarities? jack: no, not that much. i think the challenge at that time, a lot of people did not understand how powerful internet is. how to do internet, whether internet can sustain. people just jumping into it. i found a lot of people had crazy ideas, but do not know how to operate. today, everybody knows. internet is powerful, going to change human history. >> i look at it from a very long-term perspective. and if you take a step bac

we start off with emily chang and jack ma.hey talk about president trump, competition with amazon, but they started with technology leveling the playing field for small business. shiftingk the world is from big companies to small companies. i am passionate about entrepreneurship's. s. i think that is the solution for the century, cleaning jobs, innovation. if you are not innovative enough, you don't have a chance, so this is my passion, and i believe this is the future. you heard president trump speak at the united nations. what is your relationship like? >> he is a unique president. we had a good discussion last time talking about china-u.s. trade relationship and things. the relationship is very critical in this century, especially the business side. i think they are making progress on that. emily: really? trump's top trade negotiator called china and unprecedented threat. blocked thet takeover of a u.s. chip company by a chinese private equity firm. what do you make of those moves? >> that happens, here and there, now and t

we will start with emily chang interviewing jack ma. technologyd with how is leveling the playing field for small business. the world is shifting from big companies to small companies. about passionate entrepreneurship's and small business. that is the solution for this century, creating jobs, innovation. if you're not creative or innovation enough -- innovative enough, you don't have a chance. this is the future of the century. emily: you heard president trump speak at the u.n. what is your relationship with president trump? >> we had a discussion last time , talking about china-u.s. a trade relationship. i think the china u.s. relationship is critical in this century, especially the business side. i think they are making progress on that. really? trump negotiators just called china an unprecedented threat. what do you make of that? >> that happens here and there and now and when. way, if you see it optimistically are positively, they are understanding each other better. i think the next two years, there's a lot of conflicts all it rel

packed in with 40,000 employees into a outdoor stadium -- an outdoor stadium and we spoke with jack ma. cofounder and group ceo. >> everybody has a big chance to go digital, but people need to change, three liters driving alibaba: the global disruptor. ♪ it was a humble beginning for jack ma as they cofounded alibaba in 1999. the chinese were even connected to the world wide web and alibaba wanted the answer. senior executives were quarantined and that gave birth best platform which growth ebay out of china and led to the single day shopping extravaganza and the launch of many new businesses. much like bloomberg set up for the interviews, the rise of alibaba has been no small feat. more demanding. -- eight next step me be even -- the sars, there's a lot of things we can learn, but today the things we are doing, there nothing we can learn from. because we think, are the leader of this industry thatu -- the things you driving on the value of the mission. there's not a textbook you can read. >> i'll anyone could have imagined the kind of scale we reach today, but i think we are very lucky

emily: my conversation there with jack ma.here was a powerhouse panel at the global business forum. david rubenstein sat down with bill gates, the pepsico ceo, and softbank. the topic? what else, innovation. >> the last 30 years, the innovation of the microprocessor, using it as a base to create internet. that has changed the lives of almost everybody on the earth. going forward, i think it is accelerating even more. david: earlier in your career, you were a technology innovator. at one point, in 2000, you lost $70 billion of net worth. what did feel like? >> it was a crash. everybody crashed. [laughter] >> somehow, at the bottom of the crash, i actually revived my spirit of fighting. actually, it felt good. [laughter] >> by the way, for three days, i became richer than bill. [laughter] >> 12 months later, i became almost broke. [laughter] >> 99% drop in the share price. in one year. david: let me ask you a question about your career. at one point, you made a investment of $20 million in little company not heard by many, a com

emily: i conversation there with jack ma.here was a powerhouse panel at the global business forum. with rubenstein sat down aco. set down with various ceos. the last 30 years, the innovation of the microprocessor, using it as a base to create internet. that has changed the lives of almost everybody on the earth. isng forward, i think it accelerating even more. career,arlier in your you were a technology innovator. at one point, in 2000, you lost $70 billion of net worth. what did feel like? it was a crash. everybody crashed. [laughter] somehow, at the bottom of the mysh, i actually revived spirit of fighting. actually, it felt good. [laughter] , for three days, i became richer then -- [laughter] later, i became almost broke. [laughter] 99% broken now share price. 99% in one year. david: let me ask you a question about your career. at one point, you made a investment of $20 million in alibaba. it became worth $90 billion now worth $130 billion. how did you decide it was a good investment? do you have any more like that you can

. >> staying with this, jack ma has been moving to the logistic side of things.. retail, they are having this new retail concepts. alibaba has always been about providing a platform for others to do business. now they are doing to logistics themselves and the distribution and delivery. as jack ma and i talked about in hong kong, as they get a gear they have to go asset heavy, not asset light. >> today's alibaba sites, you should not leave the heavy monitoring to the others. you have to do it. you have to invest. >> alibaba is investing heavily in logistics but it is also a lost making. million. 300 and $1 revenue also tripled, they have about a dozen other partners as well, including an equity stake in best logistics which went they have a lot of 20% equity stakes that. what will alibaba do? they will fold it into alibaba group and at another alibaba board member. they will invest another 15 billion u.s. dollars to build out the logistics network over the next few years. >> what we are hearing is jack ma is setting up a gaming unit as well. do we know anything sp

let's begin with jack ma. alibaba has seen massive growth this year.tock easily outpacing other tech giants, and amazon, thanks to sales in china. here is what he had to say between the comparison between alibaba and amazon. jack: amazon is an e-commerce company and very successful and we respect a lot, but alibaba is not an e-commerce company. we are an e-commerce enabler, infrastructure builder. as i said, people may not like it, our job is to enable more companies to become amazon. we see amazon is doing a good job, successful. we are telling everybody, you know, e-commerce works. we are not necessarily competing, but investors like to put them as competitors. i spent very little time very little time, how we compete with amazon. how we can learn from amazon to be more efficient. on internet time. emily: you have been investing in groceries for a long time. i am curious where you see similarities and differences in your strategy. jack: in china, and the past 15 years, we grow so fast on retail. a lot of people say, you destroyed traditional retail.

alibaba founder jack ma.ore from that exclusive interview throughout the day and the program tonight. unprecedented access to alibaba. you don't want to miss that program, either. this is bloomberg. ♪ guy: getting a bit of the moves on sterling. this is the cable rate breaking up to july 16 bubble. the london book, basically the book for asia, now london liquidity starting to kick in. there is another move to the upside. it will get quite interesting around here. the market setup doesn't have a lot about it. 151.30, really fast. in terms of the setup, it will get quite interesting in what the technicals are that could potentially send this market really moving. matt: i just noticed, we have a great chart in the btv library on this. everyone will find it interesting. g #btv 2007. if you look at this, it is normalized. these aren't absolute values, but the blind is the pound in dollars, the white line is the pound in euros. had been stronger against the dollar, gaining strength against the dollar for a while, l

and markets,sponse 1.10.r-yen above our global disruptors series, alibaba founder jack ma, his plan fornternational expansion. this is "bloomberg markets: asia." ♪ we thought it was going to be a quiet friday. i would not say there is a lot someise, but there is movement into safe havens. dollar-yen outflows coming through. ind is up, a move down -swissie. suisse on theedit japanese markets and how they are changing their outlook there on japanese equities. , 4055,look at my chart very straightforward. credit suisse is saying if you look at the headwinds facing japan, whether uncertain boj policy, a diminished case for a weaker currency, strengthening since the summer, and we've been 1.10, a flatlining in the markets. you take those two things together and look that the buybacks are tracking lower compared to last year, so it is benchmark right now. we are no longer overweight japanese equities. unsurprising as we move into the open of markets in china and hong kong come 30 minutes away from that. singapore, malaysia, taiwan coming online. , sophie take us through those numbers. sophie:

more jack ma ahead on bloomberg technology.loomberg. ♪ lloyd blankfein conducting a panel at the bloomberg global business form today. he sees the future for investing in the middle east. take a listen. >> firms like ours were going to effectively take capital out of the country and invested outside the region because that is where the growth was and where the demand for capital was. changes driven by vision 2030 and other countries around the region is that there is a lot of growth and a lot of investment being done in country. and of that is the energy the opportunities presented by the population. some of it is compelled by how to put the population to work and take account of the demographic fact that there will be so many people and so much looking for jobs, and so a lot of countries in the region want to invest in their own countries and not just passive investors, but in industries for jobs in the decades ahead. when you are considering saudi arabia as a focus because of that transition, what are the metrics you want to

emily: alibaba founder jack ma.ee more of that unprecedented and exclusive access to the alibaba group during our special half-hour program, "alibaba: the global disruptor" on friday at 5:30 p.m. new york time. microsoft is teaming up with intel to enhance its cloud-based security in an effort to keep out hackers and the government. the new encryption protocol will eventually create a virtual black box that keeps anyone that is a customer from accessing that data. even microsoft won't be able to get at your information and turn it over in response to government warrants and subpoenas. microsoft is pursuing a lawsuit against the u.s. government, fighting the requirement to turn over client data, sometimes without the customer's knowledge. coming up the man that invented , twitch has a new startup. he thinks it could revolutionize the legal industry. could your next lawyer be a robot? this is bloomberg. ♪ emily: a story we are watching. goldman sachs sees samsung as a top buy among apple suppliers. the latest research

thepoke to jack ma and cofounder. and want to take a quick look.we come to the u.s. tech giants, that has been the big driver when it comes to the stock rally. china's tech champions have been s rivalsthe u.s. a appear. take a look at the gains when it tencent alibaba and versus the likes of apple in the white. tencent up 70%. the apple supplier in turquoise doing better than apple itself. betty: if you want to drill down into the two horse race between -- alibaba and amazon. this shows you how much alibaba has closed the gap with amazon. this is now connect now between jeff bezos and jack ma. quite a bit of drama in the tech world. not really not connect when it comes to the actual market share. amazon has a catch up to do in china. betty: very much so. you can catch more of our unprecedented exclusive access to alibaba including an .nterview with jack ma group the global on 6:30 p.m. friday in hong kong. haidi: bloomberg markets coming up, what are you watching for us? about alibabaed and tencent, it is the bigger e-commerce margaret and we will

alibaba founder and chief executive jack ma turned the company's 18th birthday celebration into a thrillerred dance routine. he performed in front of 40,000 employees. after channelling his inner king of pop on stage, ma pulled off the mask and revealed he was behind the dance moves. tensions between north korea and the south have reached boiling point with south korea conducting its first live—fire exercise of its new long—range taurus missile in response to pyongyang's latest nuclear test. well south korea is also planning to target north korea's leadership with a special forces brigade. the media has already dubbed it as a "decapitation unit". 0bviously its mission won't be to literally decapitate the north's leaders so what is it hoping to achieve, and how? earlier i spoke to former south korean army colonel professor hwee rhak park in seoul — and asked him just how special this forces brigade is. as you know, the establishment of the brigade has three purposes. the first is to restrain the behaviour of king john and by saying that he could be targeted any time. the second one would be

we have an interview with alibaba founder jack ma and this program at 7:00 p.m. in london.erg business flash. anna: we have u.s. cpi for august and unless the economy shows evidence of significant deterioration the inflation data will be a key determinant of whether the fed hikes again before the year-end. let's speak to been -- ben r itchie. will this be the key to whether the fed hikes or is there something a little more structural going on, more predetermined by the fed? they want to get the rates of the ground a little bit further. ben: i think they do. we will see when they have to make that decision and they will be looking at a range of factors, there is a desire to raise the fundamental level of interest rates and that may out see.- outweighed what we matt: one of the most read stories in the bloomberg is one in which fed officials admitting that inflation is softer maybe hardening up as quickly as they it would. are we going to start to see central banks around the world, i do not want to stay abandoned, but let loose from their 2% inflation targets? ben: we are st

the latest now from the highest profile players actually pm the prime minister trudeau flanked the jack ma the billionaire chinese guy that he owns the ali baba his company actually had a sponsored event in toronto talking to an audience of thirty five hundred people telling them why they should be doing business with china and one of the key reasons is the growing middle class that has a hunger for foreign products we're talking about three hundred fifty million people at this time that is expected to grow to five hundred million individual middle class by get this two thousand and twenty so it's only a couple of years away of course the problem is a lot of people are intimidated to work with china notably that of their language barriers but there's a lot of red tape when you get into that country and jack was saying that you know canadians need to get a little bit more brave when they're doing business in that china is the right place to go the prime minister also reiterated that you could be geographically a further distance than the united states our biggest trading partner but with te

jack ma does not see another bubble on the horizon. 18th anniversary of its founding. >> i think the infrastructure of the internet and technology is much better than 10 or 15 years ago. if you are not that greedy, if you are not that stupid and crazy, it is easy to survive today. taylor: you can watch more of our exclusive access in a special half-hour program later. alibaba, the global destructor is tonight. -- disruptor is tonight. that is your business flash. tom: thank you. this is an important issue. gordon chang has his critics. he writes book after book after book about asia. one of his latest books is on north korea. it really considers what to do about the missiles as north korea considers what to do with the missiles. chang joins us after the missile launched last evening, which is a missile launch of the length to get to guam. how have things changed with a missile launch last evening? >> what it shows is it is not a technical advance, but it shows north korea's defiance again after the august 29 launch, again over japan. t

competitorsnd --jack ma says he welcomes the competition for the arrival payment platform.en engle spoke with jack ma during alibaba'18th anniversary celebrations and asked him about competition. >> they did not have a spirit of globalization like us. there is a competition. we are first. ali pay has been around for 10 years with no competitor, good for us but not for the vision we want. in, whenent today came you ask people now, they get more because they know there is somebody who can work together and make the market bigger. this is the fun part. they are learning a lot from us and we are learning from them. those two companies, if we can work together, getting cashless pay, based on the trust and credit, that will make the market much bigger. the speed of the internet era oftentimes blurs the lines of regulation and you push the boundary and regulators overreact. how high these days ahead of that and not overstepped your boundary? >> we step ahead of the regulators, we have to. otherwise, we go nowhere. they say, my job is to regulate, my job is not to improve the other

know that everybody's had issues with bootlegs and pirated material coming out of china according to jack ma that's being changed another problem environmental you know canadians are that's a big thing on our agenda is keeping our environment clean you know what's happening in beijing you know what's happening in china when it comes to the virus jacquemont says you know what they're moving leaps and bounds when it comes to these things that were that they're catching up to north america and they hope to her surpass us sooner than later and finally i mean for canada a big thing is we have tons of water in this country. clean water over thirty five thousand lakes in the province of ontario alone that commodity is becoming more and more valuable as time progresses and canadians want to protect our water we don't necessarily want to be selling gold to countries like china so those are some of the issues but the bottom line is talks are happening as the future of progress is i mean you know a lot of our kids are not going to school anymore they're going to mandarin school so they're learning the

china's richest man, jack ma has gone viral. he was impressing his staff by performing a series of michael jackson dance moves only revealing his identity at the end. stay with bbc news. and the top story here in the uk: the prime minister says there will be greater flexibility on public sector pay, following yesterday's above 1 per cent rise for police and prison staff. now on bbc news all the latest business news live from singapore. japan's prime minister visits india to launch a $70 billion balde trade project. fast food fight after mcdonald's officially terminates its franchise agreement putting thousands of jobs franchise agreement putting thousands ofjobs at stake. good morning, asia, hello, world. glad you could join us. we start off with the japanese prime minister visiting india and the home state of prime minister modi. he will be laying the foundations for india pars mac first bullet train system. it uses japanese technology to connect more bite, the country ‘s financial hub, with industrial city. japan is providing

it was co—founded in 2013 by chinese billionaire jack ma.a cornerstone investor and owns also a cornerstone investor and owns a5% also a cornerstone investor and owns a 5% stake in it. shared office space company wework is doing something good, receiving a $4.4 billion investment from soft. they are estimated to be worth nearly $20 billion, making it the sixth most valuable technology firm in the world. —— softbank. earlieri valuable technology firm in the world. —— softbank. earlier i ask the managing director what justified the managing director what justified the skyhigh valuation. we don't see ourselves as a c0— the skyhigh valuation. we don't see ourselves as a co— working company, we are a global platform for creators. there are some reasons for that. the market will not open yet, it will open in singapore very soon. when you walk into a building, whether it is in beijing, new york, london, anywhere in the world, there is energy. you can see people collaborating and working together, whether it is a large company, a small company. ther

on september 9, this is what jack ma have to say when we talked directly about the logistics mission.ba size, you should not leave the heavy model to others. if there is something, you have to do it. you have to invest. stephen: on november 11 we are coming up to single state, and the big volume in the shopping extravaganza. they tell me they are handling about 55 million packages a day on the alibaba platform. , hegoal, the realistic goal says, is a billion packages a day on the various alibaba platforms over the next few years. have 30ll right, we seconds or so left. what is your take on the potential it billion dollars valuation for ite? baidu, allll, investing heavily. they call this the netflix of china. a bit of a misnomer. it is having revenue, but it is not profitable by any stretch, because they are investing heavily in content. there is a race for content in china by the big companies. it is losing money hand over fist. until it can turn that around, it is going to be a long struggle. emily: stephen engle with us from hong kong. always great to have you. that does it for thi

tracy: that was alibaba's founder and executive jack ma speaking exclusively with 's stephen engle.nt to bring your attention to our active tb function. you can find a at tv and watch us live and see previous interviews and dive into any of the securities or bloomberg functions we talk about. you can become part of the conversation by sending instant messages during our show. we can discuss, for instance, your definition of a bubble. how do you define it? jack ma has one way of putting it. my preferred definition is something i get fired for not owning. i broke that from citigroup's matt king. terminal function is for bloomberg subscribers only. you can check it out at tv . .his is bloomberg still ahead, u.s. refiners continue their post-rv recovery, and helping oil to its best week since late july. what is ahead for opec's production cut? we will be asking emirates nbd ed, next. ♪ so new touch screens... and biometrics. in 574 branches. all done by... yesterday. ♪ ♪ banks aren't just undergoing a face lift. they're undergoing a transformation. a data fueled, security drive

scarlet: coming up, more exclusive interviews including a conversation with alibaba founder jack ma.to industry's electric future. and regulators voice concerns about regulation and automation. they are at the top of the list. we think in the next five years, 30% of the jobs will disappear. scarlet: this is bloomberg. ♪ ♪ >> i think that we have had these very accommodative central bank policies around the world and we are heading back to normalization. normalization to me is maybe real growth in the economy with a couple percent growth in labor 1.5% growth in productivity that defines growth, 2%, inflation at 2%, nominal gdp of 4%. i think the fed fund belongs at 2% rather than 1%. the 10-year government will eventually get to 4%. >> but where in the u.s. do you see the return to normalcy? >> we are heading towards that. the fed fund dropped 150 basis points, and the 10-year government was 1.38 at the lowest, now 2.17. in the next couple of years, i expect a fed fund rate to be 2%, the government to be 4%, the s&p multiple will be 17 times. we have a $138 estimate for next year. and

scarlet: coming up, more exclusive interviews including a conversation with alibaba founder jack ma.to industry's electric future. and regulators voice concerns about regulation and automation. they are at the top of the list. >> we think in the next five years 30% of the jobs will disappear. scarlet: this is bloomberg. ♪ ♪ >> i think that we have had these very accommodative central bank policies around the world and we are heading back to normalization. normalization to me is maybe real growth in the economy with a couple percent growth in labor force, 1.5% growth in productivity that defines growth, 2%, inflation at 2%, nominal gdp of 4%. i think the fed fund belongs at 2% rather than 1%. the 10-year government will eventually get to 4%. >> but where in the u.s. do you see the return to normalcy? >> we are heading towards that. the fed fund dropped 150 basis points, and the 10-year government was 1.38 at the lowest, now 2.17. in the next couple of years, i expect a fed fund rate to be 2%, the government to be 4%, the s&p multiple will be 17 times. we have a $138 estimate for next

been a fascinating conversation there with the alibaba founder and executive chairman jack ma, takinge. incredible access that we got to the company and its headquarters u. there is going to be more on this revelry on this two companies, alibaba and tencent. we are joined with someone to talk to us about that. >> alibaba and tencent to compete in a lot of sectors, they are battling it out in out, entertainment, financial inments business and also southeast asia, you see both companies investing in the ridesharing apps potentially in an area where they could expand their payments business. mentioned pony, saying that tencent is a newcomer to the game. without dominance in china, they might not have the upper hand when it comes to these battles outside china. betty: what about amazon? is there a fight in e-commerce globally as well? >> absolutely. companies paying attention to the south east asia, especially indonesia, as an up-and-coming economy market. both companies are experimenting with retail right now, trying to revamp the sector. alibaba has pointed out that traditional retail s

jack: that was alibaba's ma speaking with stephen engle.f that exclusive conversation on our special half-hour program " alibaba: the global disruptor." it is time for the bloomberg business flash, the biggest stories in the news. at&t's takeover of time warner expected to gain approval in november. combining at&t's distribution network has raised antitrust concerns. they are discussing conditions of approval with the doj. rupert murdoch's bid for u.k.'s sky could take longer than expected. there could be greater review. the estimated completion date is mid-2018. his first bid on sky was last november. new york city is looking to join the bid for amazon's new at quarters. they are seeking proposals on how to pitch the tech giant. workforce diverse offer value to amazon. closing electrica asset management. it slumped 9.4% this year through august. hendry is known for his provocative statements and contrarian views. management. he bet against u.s. and european banks during the financial crisis. that is her business flash update. joe: what you

i guarantee you this is a different look alibaba ceo jack ma surprising employees at the company's 18thnniversary celebration as michael jackson performing to billie jean and black or white with other company executives. i mean, i can't think of another ceo, sara -- >> no. he pulls it off really well. he really went for it, and pretty much nailed it. scott galloway, come on. who else would do this >> you know what, that's what you can do when you achieve that kind of status, but you know what he did that's the key he owns it he looks like he's really having a good time. >> i'm looking forward to your sequel book "the five. you figure out what that is that jack ma is giving us on stage. >>> still to come, much more -- >> look at that with the back-up dancers. >> yes, today's delivering alpha conference here in new york, blackstone blackstone's stephen schwartzman speaking out for the first time since the disbanding of the president's strategic and policy forum. plus, another rally on our hands today with the s&p 500 hitting record highs k caterpillar, oracle, mrofticso all hitting highs.

company's headquarters for a rare and exclusive interview with the founder and executive chairman, jack maectronic world trading platform. we are making sure a small business, young people can benefit from that. i think 80 years is enough for us to improve globalization instead of killing globalization. i believe when a trade stops, war starts. >> what is the u.s. strategy right now? >> we never changed our u.s. strategy. we went to help u.s. medium and small companies and help young people sell to china and sell to asia. this is what we think. we don't want to go to usa and be the local e-commerce company. which i think amazon, ebay, so many nice, interesting immerse -- e-commerce companies are already all over the usa. >> you don't want to take on amazon doing what they are doing? >> no. >> you talk about the coming winter when the winter came pretty quickly with the collapse of lehman brothers and we saw collateral damage, and i was watching your progress to the tech bubble and that bursting. you have these challenges that wiped familiar names off the board. are we facing a similar kind

softbank chairman mesh he or spoke about tech innovation, wealth, and his thoughts about alibaba's jack ma the innovation of the microprocessor using mike microprocessor as a face to create internet, that has changed the lives of almost everybody on the earth, but going forward, i think it is six celebrating even more. >> early in your career, you were a technology innovator. in 2000, you lost $70 billion of net worth. what did it feel like to lose $70 billion of net worth in one year? [inaudible] it was a crash. it really was a crash. somehow at the bottom of the five my actually read spirit of fighting. actually, it was good. and that was the softbank chairman and ceo speaking of the global business form moderated by david rubenstein. hour, thein the next boj policy decision, fidelity international in 10 minutes from now. to update our viewers. some lines out of htc. htc near this $1 billion engineering team sale to google. google buying part of that team and design team as well. htc focusing on branded phone operations. shares are still suspended inter-day. they start trading, we will u

. >> did you see the video of jack ma doing his best michael jackson? >> i may be bullish. >> alibaba annual party. that's not video of michael jackson from the past. >> if i was him i'd be doing -- >> yeah. ♪ >> when you see this though, i mean, what do you make of jack ma and his ability to consistently have the market believe a narrative, even in the face of the naysayers? what is the quality about him? what do you think about him? >> got to be the dance moves, right? >> have a michael jackson dance-off to settle this. >> i don't know, unless you're doing the polka. >> i find that -- >> he has successfully sort of convinced the market that despite all of the criticism that may be out there about accounting and otherwise that he's got a real company that does a hell of a lot of business that's not going away any time soon. >> it's a real company the question is how much money do they really make and how do they earn the revenues and book their cost that's the story not that it's not a real company, but just an awful lot of his affiliates drive his rev

and we spoke exclusively with group executive chairman jack ma.

and we spoke exclusively with group executive chairman jack ma.

and we spoke exclusively with group executive chairman jack ma. >>

we will bring you the highlights, including conversations with jack ma and tim cook. name for itself in the smart home world. now it is going beyond webcams with a whole new home security system.

china's richest man, jack ma has gone viral. this clip shows the boss of the internet giant alibaba, impressing his staff at the company's annual party. he performed a series of michaeljackson dance moves — only revealing his identity at the end of his show. that's all from me now. stay with bbc world news. now on bbc news it's time for hardtalk. one of the greatest names in british theatre died this week. sir peter hall founded the royal shakespeare company in his twenties and went on to lead london's national theatre. he spoke hardtalk‘s stephen sackur in 2009. my guest today has been a hugely influentialfigure in the performing arts for more than 50 years. sir peter hall has directed stage greats from olivier to gielgud. as boss of the royal shakespeare company and then the national theatre, he's always championed state funding for the arts. but with economic hard times come tough questions — are taxpayer subsidies really necessary to foster creative excellence? sir peter hall, welcome to hardtalk. thank you. you have had a l

internet giant already dominates domestic commerce and alibaba founder and executive chairman and jack ma now wants to build a global logistics network the chinese competitor of amazon wants to be able to ship orders within twenty four hours in china with seventy two hours anywhere in the world also on tuesday the company announced plans to invest more than eight hundred million dollars in a chinese logistics phone. now the scot said no catalans will have their say next month independence referendum are having a moment and kurds in iraq have also cost their vote on the issue of autonomy sunni has now that's right how another country's critics minority has voted in an independence referendum and the outcome will likely be yes when the official results are revealed that is despite heavy international pressure both the u.n. and the u.s. oppose the poll. with iraq's kurds celebrate the holding of their independence referendum. but their government today we voted for the independence of kurdistan and it's a session from iraq. we want to change our iraqi identity to kurdish. so. i say goodbye t

coming up tomorrow, an exclusive conversation with jack ma.ne harvey and irma taking a toll on the insurance industry. the storms will probably wipe out profit and threaten the company's ability to meet its full-year target. shares of credit raising from experience lower today in london. mark warner is calling for an investigation into experian, trans union and equifax after at what fact -- after at what equifax's security breach. ipo mightsaudi aramco "i'm trying to push it for 2017. it will benefit the saudi economy as a whole. without a doubt, it will be in the market by 2018." here's what the ceo said earlier this year. go late 2018. to i would say in the second half of 2018. alix: now, it could be 2019. javier blas. why the potential pushback? taking a longer time for the government -- they have not decided where they will lease saudi aramco outside riad. they want an international leasing. a decision has not been taken and that's having a knock on effect on everything else. it is possible in 2018, but everyone involved in the ipo process

the first bloomberg global this is form includes bill clinton, christine lagarde, , andn trudeau, jack mal be life on bloomberg television starting at 8:30 a.m. new york wednesday, 8:30 p.m. wednesday night here at of the asia-pacific. up, we talk about geopolitics, the risks there, with the chief geopolitical strategist of standard chartered. this is bloomberg. ♪ ♪ announcer: from our studios in new york city, this is "charlie rose." charlie: this year's annual united nations general assembly will begin tuesday. this year's theme is focusing on people, striving for peace in a decent life for all on a sustainable planet. president trump will address the organization tuesday morning in a speech that will likely focus on north korea and iran. other key issues include climate change, peacekeeping, refugees, and the global health. joining me now is nicholas burns of harvard's kennedy school, and john micklethwait, bloomberg's editor-in-chief.

top is as leaders who spoke at the event, starting with the alibaba founder and executive chairman, jack matingk the world is from big companies to small companies. small companies make extra partnerships and i am passionate about entrepreneurship's. i am passionate about small business, i think it is the solution for this country, creating jobs, innovation. are not creative in a small business and innovative, you do not have a chance. that is my passion and i believe that it is also the future of this country. >> you heard president trump speak at the u.n.. what is your relationship like? >> he is a very unique president. we had a very good discussion the first time that should the last time, talking about china-u.s. trade. i think the china-u.s. in thisship is critical country, especially on the business side. i think they are making progress on that. next really? -- >> really? the president blocked the takeover of a u.s. chip company by a private equity firm from china, what do you make of that? >> that happens. then,nd there, now and this is a way i think that if you see optimistically