but jack ma and his own persona really does have and set the stage for the entire singles day, rightthat's absolutely right i'm told that actually jack ma is unlikely to make a physical presence here today on stage as later on as he has done in previous years we know he stepped down as chairman of the company and that role has been taken over by the ceo. but is interesting, watching from the sidelines he said in one of alibaba blog post he is excited to be a consumer on this day they are letting some of the business sites drive a lot of that this year one thing you said, the presence of jack ma, somewhat of a spiritual thing, as well if you talked to the alibaba employe employees, the entrepreneurial spirit is alive. a vibe on the campus today they set up studios and booths for some of these internet celebrities to come down and there are various things happening around the campus and i think the spirit of jack ma is very much alive in singles day, as well. >> the next generation of alibaba leaders in full force. >>> let's get more insight in singles day and the lessons it may hold f

jack ma says u.s.ns could face decades of turbulence if they are not careful in how they handle trade talks. we will bring you our exclusive interview. sophie: up next, fed chair jay powell sounded mostly upbeat on his second day of congressional testimony, but highlights warning signs that could derail the economy this is bloomberg. ♪ ♪ >> the u.s. economy is the star economy. we are growing at 2%, it in that range, so more than any of the other advanced economies are growing. and there is no reason to think that that can't continue. >> three rate cuts this year has put policy stance in a very good place to make that baseline come out where we need it to. >> the economy is in good place and monetary policy is well. -- is as well. forecast is inflation moving back to 2%. >> and fleshman expectations reside at a low engine of the range i consistent with -- i consider consistent with our price stability mandate. >> there is no reason i see the probability of a recession is at all elevated. officialseral

alibaba founder jack ma says the risks 20 more years of trade tensions.e have his exclusive interview. and we look at the competitive space of rental kitchens. first, to our top story. apple says it is considering bundling its digital services including news plus, tv plus, and digital music. get more bid to subscribers. the tech giant is already experimenting with this kind of approach, offering free subscriptions for tv users to apple music. what are we bundling and why? said, apple wants to bundle together different paid services. they have had apple music since 2015. they came out with four or five new services this year. they want to lower the price if you subscribe to multiple. right now, apple music costs $10. news plus costs $10. play -- payorage, i three dollars a month. to $40 or, it adds up $50 depending on how much storage you have. imagine being able to get month.ing for $15 a that will generate recurring revenue because people will want to subscribe to additional services and save money by doing so. taylor: i get that, except that we learned

in ant was jack ma exclusive interview.ing up, the apple cofounder steve wozniak took to twitter when it appeared his apple card discriminated against his wife. we will hear his story as well as steps taken by the card's issuer, goldman sachs, next ♪ >> welcome back to the best of bloomberg technology. i am taylor riggs. goldman sachs was in hot water this week as accusations of gender discrimination over how the bank issued its apple card. the controversy started in entrepreneur tweeted that apple against hisinated wife despite they share -- the pair sharing joint returns and tax accounts. steve wozniak joined the chorus saying the same thing happened to him and his wife. he relayed what happened to kurt wegner on monday. >> we don't go out and try to promote anything. i saw a post, a tweet by david about he and his wife having different limits. we encounter that months ago and found out through phone calls on the number on the card that we couldn't really get to anybody who would listen except they said maybe in three to

taylor: that was alibaba co-founder jack ma., the tech job market is tight and most large u.s. companies are competing to fill many of the same roles. how cutthroat is it? we will explore. this is bloomberg. ♪ as demand for tech workers grow, companies continue to sweeten their benefit packages, but that is still not enough as employers compete in a --ch compete for talent compete for talent in a tight employment market. we discussed the need for more tech recruitment by companies world wide. we are joined by hired's ceo. thank you for joining us. i am shocked to hear this. with all the salaries and benefits you hear about, why aren't these jobs being filled more quickly? >> the thing to realize is that every company is now a tech company. teched to be just companies, high-tech talent. now, every company. disney just launched disney+, you have capital one, everybody is creating apps and they need tech talent. demand for tech talent is just exploding. 32% increase in tech jobs over the past year. at the tech supply, people with t

alibabahat was co-founder jack ma speaking to bloomberg television.lcome tim phillips, president of americans for prosperity, an organization founded by larry koch. you heard jack ma. if he is right, what does that do to the u.s. economy? tim: i think it is overstated. brazil and china had a big war of words for last couple of weeks may been cutting a lot of trade deal together. the president will often attack someone on twitter one morning and then working it out the next day. i am not advocating for that approach, but these things can turn on a dime, and i hope they do. this trade war has hurt our country, i see the farm sector, pork producers. we had a great tax cut reform package in our view in 19 -- in 17. this administration's efforts to roll back regulation is good. we should be seeing higher economic growth and we are seeing. the one reason we are not is this trade war. david: has the president set expectations too high? has the president set expectations too high? he said that he would change the way china does business, including subsidies.

jack ma left on his own. >> sure. >> he's still very exposed >> i got it. >> an unbelievable private equity arm and not like he has not been active and he is still out there preaching for the communist party which he has come out as a member of. the chinese really want to open their market and make their market a go-to market and they're not going to do that by arbitrarily saying one of the biggest companies here, see you later. >> that i agree with that is one of the most important fundamental goals of the chinese government from an investment perspective >> you rocking the puffer until the end of the show? >> can't stop, won't stop. >> j.d >> i just wanted to address the elephant in the room people are talking about it on twitter. >> call me elephant in the room. >>> let's get to the headlines with sue herera. >> it's a feisty group today they're still going. all right. let's go et to the other news o the day at this hour prince andrew seen driving away from his windsor home this morning. lawyers for jeffrey epstein, he is facing mounting pressure to meet with u.s. law enforcement

this ali baba celebrated its founder at the event jack ma who started the company in his living room. ma listed ali baba at the new york stock exchange in 2014 and became china's richest man back then ali baba said it planned to be listed in hong kong as well now the time has come. i'm also grateful that they choose to calm despite the difficulties despite the challenges that we are going through here in hong kong. ali baba called the listing a vote of confidence for the city hong kong has been wracked by sometimes violent pro-democracy protests for months the protests and the u.s. china trade war have sent the local economy into recession. let's bring in craig he's a senior market unless they're the one that joins us from london craig why is this thing so significant for alibaba. well i think we have to remember that this is actually the venue that alibaba want to list all those years ago but you to regulate 3 concerns it had to consider the shins and of course new york is not exactly about alternative option but in terms of why you would want to let's now let's remember this is an e

company that makes two—thirds of its revenue from the chinese market and in a way, it's coming home, as jack ma because in 2014, they listed in the us before they listed in china but the timing is hardly ideal. why not? we talked about this on the programme, political protests, petrol—bombs, the backdrop you are seeing with the ongoing demonstrations in hong kong over major political issues, a lot of a nalysts major political issues, a lot of analysts questioning whether this was the right time for alibaba to list its shares in hong kong. 0ne band manager said, if they waited, they might have got a better valuation next year but there is the suggestion this wasn't purely a financial move, there has been talk and speculation that there has been political pressure from beijing to try and shift the headlines away from what you are seeing in hong kong every single weekend to focus ona kong every single weekend to focus on a purely business headline in the way we are talking about this now but it is a big question as to whether or not alibaba could have waited until next year to get a better sense o

it's something of a crossroads for the 1st time employees aren't being led by flamboyant co-founder jack mawho resigned as chairman in september singer's day also comes just as the company looks to raise up to $15000000000.00 in a hong kong share sale later this month. meanwhile ali baba's latest global bit of funds seems to have gone what. i didn't know jules went on world tours but these next ones did prior to this week's auction at sotheby's in geneva. james striking colombian pieces with a 970 s. and one bracelet in particular which is stealing the show. sapphire flanked by diamonds available to anyone with a spare $2.00 to $3000000.00 in their pockets the bracelets is the crown jewel if you will of a collection of art deco gems that will go under the hammer at the bees auction in geneva this these 2927 and we have in the seated nada splendid do what they are. created the exactly at the same time $927.00. can be different in style and design also vying for attention is this emerald and diamond necklace which was once owned by princess sally ma. so the bees representatives did not hold b

at something of a crossroads for the 1st time employees on to being led by flamboyant co-founder jack ma who resigned as chairman in september singles day also comes just as the company looks to raise up to $15000000000.00 in a hong kong share sale later this month. meanwhile ali baba's latest global bit of phones seems to have gone well. now to some of the other business stories making news a judge in malaysia has ordered former prime minister najib razak to enter a defense of this part of his 1st trial over the one m.t.b. scandal billions of dollars was stolen from the state basement front told the court he planned to testify in his own defense. as ready as men carry a quantas has pledged to achieve 0 net emissions by 2050 it's the 2nd airline to do so love the bridge in a way zoned i.a.g. qantas is also investing about 13000000 euros in developing more sustainable aviation fuels and the federation of german industry wants the government to set up a spaceport in germany it would focus on transporting small size satellites into space experts say will be key to future communication netwo

are something of a crossroads for the 1st time employees aren't being led by flamboyant co-founder jack ma he resigned as chairman in september the event also comes just as the company looks to raise up to $15000000000.00 in a hong kong share sale later this month meanwhile ali barbour's latest global bid for funds seems to have gone to plan. and that's all for business asia here on g.w. for me and the team member len as always thanks giving us company. lucky. their wealth isn't cultural over their egos insatiable. their rivalry deadly. the bathroom princes. dream of the power of mortgage. the wife of the princes of. sports nov 27th on t.w. . cologne and song in ventura some of the famous naturalist and explorer. to some racial comics on the phone while its 250th birthday we're embarking on a voyage of discovery. expedition voyage on the d.w.m. plane. a jewel with words from. where i come from you don't want to weigh from a call from station. when i was 5 years old my father took me to his friends about the smoke on the school. bus for the 2 months old they tend to see the soul. fencing as

are something of a crossroads for the 1st time employees aren't being led by flamboyant co-founder jack ma to resign as chairman in september event also comes just as the company looks to raise up to $15000000000.00 in a hong kong share sale later this month meanwhile ali baba's latest global bid for funds seems to have gone to plan. and that's all for business asia here at u.w. for me and the team member len as always thanks for giving us company. mob. mob. the english. killing more in record time with class my gas. kills bacteria and it stimulates the growth of healthier cells. and its healing effects be increased. german physicists and medics have come together to find them ah. tomorrow today. 90 minutes on d. w. . sleep. carefully. the assumed she needs to be a good. match and. discover. the i. subscribe to. documentary on you tube. and literature invites us to see people in particular that i like to see as the kids find growing up her. my objective is to work with. the books on you to. go into one official estimates more than 1200000 venezuelans live in colombia legally and illegally.

are something of a crossroads for the 1st time employees aren't being led by flamboyant co-founder jack ma resigned as chairman in september the event also comes just as the company looks to raise up to $15000000000.00 in a hong kong share sale later this month meanwhile ali barbour's latest global bid for funds seems to have gone to plan. and that's all for business asia here on g.w. for me and the team member len as always thanks keeping us company. cut. the. healing wounds in record time with plasma gas. it kills bacteria and it stimulates the growth of healthier cells. and its healing effects be increased. german physicists and medics have come together to find out. tomorrow today in 30 minutes on d w. takes the personally i went with all the wonderful stories that make the game so special. for all true fans blah blah blah blah blah blah blah more than football online. much of it. sure link to this. from africa more. or link to exceptional stories and discussion from the use of easy town while website d w 2 comes from africa join us on facebook d w. to know that 77 percent blockage are

alibaba founder jack ma says the u.s. and china

but something of a crossroads for the 1st time employees aren't being led by flamboyant co-founder jack ma who resigned as chairman in september event also comes just as the company looks to raise up to $15000000000.00 in a hong kong share sale later this month meanwhile ali barbour's latest global bid for funds seems to have gone to plan. egypt is marking the 150th anniversary of the opening of the suez canal one of the world's most important waterways connecting the mediterranean with the red sea it took a 1000000 egyptians 10 years to build it in a feat matching the building of the pyramids it dramatically cut shipping times for the growing international trade between europe and asia at the time and use 72 kilometer 2nd lane that opened in 2015 allow traffic to increase to record levels. every 4 we go see other beings is having a very special auction this week starring striking colombian pieces from the seventy's and a flawless bracelet the jewels are so spectacular the auction house made sure everyone to take a look at them by staging a world tour now the question of course is who will

as for jack ma, he med an appearance by recorded video he was not in the room today. you had the hong kong exchange chief charles lee here who said he is confident that other companies will also,. alibaba paving the way for other tech unicorns after rules were relaxed last year in the city. plus there could be a review of alibaba's eligibility to join the hung tech index and a lot of anticipation around inclusion of stocks which can allow chinese investors to get in on the action. according to the cfo of alibaba, first time on sure investors made one up one third of the buyers for the offering. ats morning shares opened 180 seven hong kong dollars heading a high of 189 this morning. rising as much as 7.7%. trading in hong kong and a slight premium through new york listed adrs. which traders are bullish on. >> their ego. a good day so far. sophia's by the gong. at the hong kong stock exchange. coming up, we are betting on biotech and having a look at that trade. we checked the outlook and the standout stocks. live out of beijing. >> global growth and a first-quarter re

jack ma pointed out that energy costs are low today. the problem is you also have a brain drain. of people are leaving for better salaries or for the first or second age funding. the other big thing here that china is looking at is agriculture, pork, week. as we speak, china is trying to purchase a huge aerospace engine manufacturing here in ukraine. they produce engines for helicopters and aircraft. the united states is blocking that because they think that could be technology put to bed uses, sold to russia, that sort of thing. ukraine, as it matures, is getting caught in these geopolitical flights, even over 5g, whether huawei should be allowed in. not an easy path to navigate for such a young presidency. david: always hope to have you here, michael bociurkiw. turning the screws on big tech. one of president trump's big supporters in silicon valley discusses what congress is getting wrong with possible tech regulation. scott mcnealy joins us next. this is "balance of power" on bloomberg television and radio. ♪ david: this is "balance of power" on bloomberg television and radio

it is the first since jack ma step down and handed over the reins.a and the health of consumer sentiment in china. so far from the numbers consumer sentiment is holding up and staying brilliant in spite of .he water slow down $16 billion in transactions volume in the first 90 minutes. i am watching the numbers, surpassing $22 billion, on pace for the record. taket to point out we will this with a grain of salt given the numbers don't directly translate into revenue or profit. even the numbers and its recent quarterly results that beat expectations, it shows alibaba is able to outpace consumer strength and digital commerce sales as they push into lower tier cities and investing in adjacent markets. for the impact -- consumer sentiment, deals draw the people, forget the trade war. there were concerns there could be boycotting of u.s. brands. there was something from a report saying according to that, they were going to reconsider purchasing from u.s. brands as a result of national loyalty, price quality or other reasons but we haven't seen any proof of

rishaad: jack ma speaking exclusively to bloomberg. run -- motorola is rebooting the razor flip phone as a smartphone with a display that gives the lenovo brand a unique selling point. the device reprises the name and looks like a modernized version of the original. costs 1490 nine dollars and will be available for preorder in december in europe. rishaad: singapore telecom swinging to a net loss of 68 million. it was down to an exceptional cost related to -- the loss was worth 490 million u.s. dollars. the chief executive saying the weak global demand has hurt the telecom industry. yvonne: vodafone's indian unit is appealing for urgent government relief after posting the worst quarterly loss in corporate history, facing a $4 billion demand to cover past dues. vodafone took a one time charge that led to a net loss of 7 billion in the three months through september. the second largest phone operator has not seen any profit since it was formed in 2017. rishaad: an hour to go before the session in india gets underway. stocks areome of the

jack ma wanted to center the promotion around a holiday. ma first targeted singles. he goes after every demographic. last year's sales rose 27% year-over-year to 37 ilion dollars. that is about the size of the annual output of some small european countries. more merchandise is sold in the 24 hour period then in the time in the u.s.. amber: blackstone's real estate group is one of the biggest and best performing franchises at the nearly $600 billion alternative asset manager. of division wants a domain blackstone president coo is now run by ken kaplan and kathleen mccarthy. erik schatzker sat down exclusively with kathleen to examine where the private equity giant is finding opportunities in real estate. try to figure out what's happening in the world with the economy, overall preferences, and we figure out how to put that in a real estate context. on the back of what we are doing in e-commerce, we are investing in office, rental housing. these are the places that are getting more of their fair share in population. west coast, seattle, vancouver, los angeles, san fran

the company founded by jack ma had chosen to list not in some high but in hong kong itad originalllly planned an ipo in august. but the latest mock the bg two political rest it has raised has issued five hundred million new shasta rex eighty eight billion hong kong dollars or about. billion us dollars. . is already listed new york where it made its market debut in twenty fourteen. and finally are in those roles this elsa and ana about on the big screen beating box office expectations. present to a sequel to the twenty thirteen smash smash hit rating three hundred and fifty million dollars in its opening weekend worldwide t that's the highest grossing debut ever for a disney animation film. fivee disney films have made more than one billion dollars at the box office this gem presesent he may well become it's six about half speed the original. states crossing of one point three billion. fix this okay you go away thank you very much. case i know of for a media watching james cretan is with is a hit in the search for that and james was startrtingitith the internrnationalay foror the elimi

the company founded by jack ma raised more than eleven billion us dollars bites listing. which went ahead despite the ongoing political turmoil. this was all about the second idea after new york listing in twenty foururteen. a day after you buy losses license to operate in london indian right hating company- the accident with multi service in the british capital in the coming weeks. the fan has already beeeen operating in othr uk cities and has started signing up drivers in london. aiming to have a fifty thousand strong feet in the city. amazon has been accused of setting a knockoff of america's shoemaker alba's won't training. in an open access over us found this land amazozon for copying the design but not the environment friendly practices. saying please steal our prejudices state ability. the online giant has the night the copy cat accusation. the parent company of swedish furniture chain i tear has seen is fully operating profit full 10% despite increased sales inc a group announced operating profit of two point zero three billion euros for its physical effort august

founder and chairman jack ma spoke with bloomberg. trade war might be, i would say, the usa and china relationship might be in some turbulence in 20 years, the next 20 years. we have to be very, very careful. i think it is so important for the china and the u.s., two great countries working together, to support the economy, prosperity, share a lot of technology together, and for so many years, china and the u.s. have been working together. there is a problem. that is very natural. if there are no problems, that is not natural. we should stop the problems. we should not create more problems. yinka: is there a plan? jack: some they will, but we are not in a hurry. we do not have a plan for that in the short term, because financing, first, we are very profitable. we grow very healthy, and there are a lot of things we can do in these years to make sure that we have enough investments for the future. yinka: do you know what exchange you will be looking at? jack: just like i say, we are not thinking about when to marry, so we are not thinkin

stock had alibaba successfully listed in hong kong, it would have been a way for jack ma to curry favorng but stay closer to home. david: you mentioned earnings coming out. is it before the open today? lulu: he will take place todaylulu:. are expected around 7:00 p.m. and they will have the earnings call later today. david: given outlook. lulu: the chinese economy is not doing that great. we expect gdp growth figures will continue to slow, possibly below 6% and it is growing at the slowest pace in three decades. that is hurting alibaba's expansion. they are expected to post the slowest growth in three years in revenue figures. everyone is waiting for more insight into how they will keep up their business growth. rishaad: lulu chen from bloomberg news. we will have more discussion ahead of alibaba's results in the next hour of bloomberg markets. biggestapan, the dealmaker of the year has one thing on his mind. that is beer. more than $20 billion of it over the past four years. dave mccombs is in tokyo to talk us through exactly what that means. beer demand isn't exactly growing fast. why

it looks like daniel zhang is trying to build on the foundation jack ma established.so looking to move beyond asia when it comes to its ambitions. where they go from here with their cash pile, with their warchest, there is certainly a lot that could be done along the horizon. taylor: that was bloomberg's sophie kamaruddin. alibaba's hong kong listing is being seen as a triumph for stock exchange but over the years lost many of china's brightest technology stars to u.s. rivals. it comes as pro-democracy protests have gripped the city for weeks. with analysis, i got inside from john freeman, vice president of equity research at cfra. >> it will be very interesting to see what they do with the extra cash, because i think it brings them to i want to say, $43 billion total, and about 21 in net cash, if you subtract the debt. what i would like to see them do, i would like to see them invest more heavily into the cloud business, which is -- it is 8% of revenue now, it was growing 64% year-over-year growth in the last quarter. we have seen how the cloud business scales with a

jack ma has always interpreted well where things are moving in business and government.a helpful move. it also makes sense for them to have around the clock trading. also tapping into chinese mainland consumers who want to buy in. >> as we see this bifurcation of china-u.s. trade, intact even, even, how is this affecting the dynamics of where we are headed in this global technology battle? >> it is a list at try for case and. what is the rest of the world doing -- it is almost a trifurcation. what is the rest of the world doing? in a case where the u.s. is not offering an alternative, do companies hold back or -- two countries hold back or work in the ways that germany and the u.k. are now wrestling with ways to work with chinese companies. we assume by now that mainland china would be going in a different direction, in terms of opening up, and that is now happening globally paired but this question of where is china headed? is this the china we were expecting to show up? that is a debate here. >> what is your view on the state of dealmaking in china now? >> activity has

he a player -- he appeared with jack ma from alibaba. there hasn't been much of a backlash yet. we will see how this plays out. taylor: we know that china is the biggest market for electric vehicles. europe potentially could be next. how big of a deal is the factory in berlin? dana: when you think of europe, germany is where all of the other automakers are. it's where the mercedes, daimler, bmw -- it's the heart of the automobile -- automotive industry. this is really important from an engineering standpoint. it's kind of letting all the other automakers know that tesla is here to stay. as everyone else gets dragged kicking and screaming into electrification, testily -- tesla is ready to dominate. taylor: could we see them become profitable in these overseas markets? dana: the question is can they be sustainably profitable. is this a one-off, or are they going to post a profit again? clearly there is demand for the cars. tesla has said europe could be stronger than north america. taylor: analysts have said it might be too bold to say that the u.s. market has matured, but it cert

neither jack ma or joe tsai selling shares into the offering this is to run the business that needs cash bleeding losses running china's version of youtube and delivery and alibaba pictures as well. stuart: i do own some alibaba shares quoted on the new york exchange. this hong kong quote will dilute me a little bit. susan: a little bit. 2 1/2%. more money might play hong kong instead of u.s. here is the opportunity for you. arbitrage the shares. one more expensive in new york, compared to hong kong. there is deal discount you can play. i know how smart you are. stuart: i'm not that sophisticated. susan, thank you very much indeed. >>> the left's impeachment obsession extends beyond washington. the student body president faces impeachment after he used student funds to bring donald trump, jr. to the campus. we'll have that story. charlie kirk next. >>> new rules for hospitals an medical insurers this afternoon. first we have health and human services secretary alex asar. what is transparency in practice. what does it mean for me. >>> former congressman, j.c. watts launching a 24 hour bla

the 11th annual, the first time it is held since jack ma step down and it is being overseen by the presidentbow. we are already seeing sales on pace to surpass the record of $31 billion. this is a bellwether for the consumer sentiment in china and business. the numbers should be taken with a grain of salt because they don't directly translate into revenue and the bottom line given the discounting. but we have seen alibaba stay resilient amid the overall economic slowdown. revenue jumped 40% beating expectations. singles' day's numbers showing resiliency. i want to point out alibaba has mainly stayed shielded from the trade war. we have seen a few u.s. brands on a list of 84 brands alibaba has kept track of, showing apple on the list to show companies in the first hour of sales reaching 100 million r&b. macro headwinds we are seeing the singles' day numbers holding up. wang covering singles' day which is now a global phenomenon. thank you so much. we will be back with you throughout the course of the day. breaking news, dbs group earnings reporting net income for the third quarter which beat

. >>> up next, despite new sales records, jack ma says singles day performance was below his wel exctiou why dow down 75 now. the moth withou, struggles in the spider's web. with every attempt to free itself, it only becomes more entangled. unaware that an exhilarating escape is just within reach. defy the laws of human nature. at the season of audi sales event. ♪ ♪ ♪ ♪ >>> welcome back to "squawk alley. ibm bought the weather company in 2016, today, the tech giant is announcing a major announcement that takes super computing power to disrupt, weather. steve liesman visited the newest super computer in north carolina to find out how it is happening. >> reporter: in developed countries, smart phones warn of looming storms, bitter cold, seering heat, but billions of people around the globe lack basic weather forecasts, making the world a much more chaotic, dangerous place. in a historic marriage of big data and super computing, ibm is launching f launching graf it will provide accurate weather forecasts not for a few places around the world but for the entire world you hear the sound of t

that saw the retail trench boosted from 2.5%, given the interest in the shares sale, 20 years after jack mahe company with just $80,000. sophie kamaruddin, bloomberg news, hong kong. guy: that is the view on baba's secondary. let's take a look at some of the biggest business stories in the news right now. let's start off with xerox. it says there will not be any cooperation from hp, so plans to engage was -- to engage with hp shareholders directly in a takeover offer. they say the refusal to take part in mutual due diligence defies logic. saudi arabia's neighbors are coming through for aramco. i would be will put as much as -- abby dobbie -- abu dhabi will put as much is $1.5 billion into aramco. gulf is counting on their allies. this is bloomberg. ♪ romaine: live from new york, i'm romaine bostick. guy: from london, i'm guy johnson. this is "bloomberg markets." let's check in with the bloomberg first word news. here with the details come other yacht or tonto -- the details, the vr or to auto -- the details, viviana hurtado. viviana: china and the u.s. still inching towards a phase i trade

noticeably absent was jack ma the founder of behemoth.his was part of jack ma's dream, list shares closer to home where people understand the business better. i asked alibaba about cornerstone investors who are the big ones buying? they wouldn't tell me who. some of the big ones you can imagine were part of this. also hong kong, talk about the shoring of hong kong, also the confidence in the chinese consumer. alibaba raising 11 to $13 billion in this listing. it takes their cash pile up to $43 billion which they say they will reinvest back into the business. they came off one of the most successful. one of the most successful shopping events on the planet. in just 24 hours they sold 38 billion worth of goods on singles day. this helps rally alibaba shares which outperformed over the past month in new york. don't forget they had the record breaking listing back in 2014. alibaba shares actually outperformed likes of apple, amazon, alphabet and facebook. people do see signs, shopping, regarding of slowing growth in china does continue with t

jack ma has always interpreted pretty well where things are moving in business and government. is a helpful move, i think. but it also makes sense for them to have around-the-clock trading of the stock. and also tapping into the chinese mainland consumers who want to buy in to the stock further. shery: as we see this bifurcation of china-u.s. trade, this bifurcation in tech, even, how is this affecting the dynamics of where we are headed in this global technology battle? duncan: it is almost a trifurcation -- i am not sure if that is a word. what does the rest of the world do? they are looking at china. there are hard questions to be asked now. but in some cases, where the u.s. is not actually offering an alternative, like 5g for huawei, do the countries hold back or work in ways, like germany and the u.k. are now wrestling with, for ways to work with chinese companies? it is a massive debate. we assume, by now, that mainline china would be going in a different direction, in terms of opening up, and that is now happening globally. this question of where is china headed? is this

. >> zachary, you're around 240 on the target thinking back to the ipo day, few times we had jack ma onset, we talked about the degree they would invest here, take business from domestic companies. how much of that changed given how different u.s./china relations are today from then? >> great point, carl i think it has changed look, they still have global ambitions. make north america somewhat tempered versus when they first went public. other parts of the world are still very much in alibaba's wheel house, and they position themselves well for that as well as domestic consumption, growing middle class >> joel, just to expand on that a little bit, alibaba reportedly eyeing $15 billion hong kong listing. what does that mean for the company strategy moving forward and how it is thinking about that reach in china and beyond >> i mean, i think really it started getting motion earlier this year. it was talked about prior as well, but i think it is a way to mitigate impact of a trade war, kind of help them raise capital in other regions, boost infrastructure locally i think it is a move mo

time dreameen a long of jack ma's to be closer to home.s makes it easier for mainland investors to buy shares and it carries favor with beijing. investoriversifies the base and hedges against the worst case scenario that u.s.-china trade tensions continued to worsen. lawmakers, they are hedging against any of those possibilities. on top of that, this helps give alibaba added capital as it expands internationally into new business lines like cloud computing and entertainment. it also ensures that it can feel this costly and subsidies. portion,n the timing this timing obviously is not perfect with the ongoing protest , but the sentiment around alibaba has been improving. shares are trading near an all-time high. for itsa record shopping bonanza, singles' day. nejra just does not know my po box at home in dubai. what is the risk in this trade? we are seeing risks arise for the aramco trade. give me a sense of what is at play for the alibaba trade. >> we are talking to analysts and there has been some concern if this could suck it at the from

it cannot really liquidate its investment easily, so maybe jack ma could return the favor.te cornerstone investor. rishaad: would they trust him? that is another story entirely. david: thank you. maybe se guidan her these are shares of alibaba earnings nextted year. so 2021, all the way to 2020. times. about 26 coming up, we are looking. by directorngapore of asia-pacific insights. next it the monday edition of radel of the charts. the first one of the week is coming up. this is bloomberg. ♪ rishaad: we are back. markets reporter. david: our bloomberg clients can .onnect let's kick things off and talk steel with crystal. >> we often hear as china has the largest steelmaker. from time to time, they also import steel. there is a lot of talk about the economy going to lift off. they kept on building more and more steel mills. whenever there is a drop in global demand, they have no choice but to send their products to china. i'm not trying to support anyone here, but the last time this happened was during a time of financial crisis. are you trying to say about the future? >> i

making headlines at this hour alibaba singles day had record sales, but apparently not enough for jack maese online retail giant. ma told shanghai -- a shanghai convention this year's event did not meet his expectations despite registering more than 38 billion in sales ma said that warm weather may have impacted the sales. >>> an activist investor and florida resident carl icahn -- doesn't matter >> matter to who >> to roe. you're trapped here in the country, so we got you where we want you and you're not going to move so we're going to get you anyway, xerox will push forward with its bid for h-p icahn holds a 10.4% stake in xerox and told "the wall street journal" he now holds a stake in h-p. combining xerox with the computer maker could yield some big profit for investors >>> wework lost 1 and a quarter billion during the third quarter, weighed down by growing expenses that comes despite revenue nearly doubling compared to a year earlier last month softbank group increased its ownership in wework 80% in a rescue package did you happen to see what adam newman, where he was looking at som

selina: it has long been jack ma's dream to list closer to home. it also curry favor with beijing.lps the company diversify its investor base and hedge against u.s.-chinaal risk if trade tensions continue to worsen and some u.s. lawmakers are even calling for a forced delisting of chinese companies from u.s. exchanges. although alibaba already has plenty of capital, it could always use more in terms of expansion into new business lines like cloud computing and entertainment as well as expansion overseas. war are fighting a costly of subsidies. in terms of timing, timing of these is not perfect, but business sentiment around alibaba has been improving. they beat quarterly estimates in their most recent earnings. they also surpassed expectations and reached a record for a recent shopping bonanza. , timing is not perfect, but there is a silver lining. julia -- juliet: let's head to mumbai now. markets have just opened. day foreeing a down most of asia, but it looks like india could buck that trend. i'm looking at some gains coming through. what do you think? >> absolutely. we are buck

maria: jack ma is an important soldier for the chinese government.hina morning post. now it is a total mouth piece for the chinese government. didn't jack ma come out and reiterate, i am a part of the communist party? remember that. >> in china, i think most of the -- have you to be part and subscriber to the communist party and a lot of these private companies, alibaba being the largest in china, will say that we are a private entity and they try to -- i guess they try to moat themselves as much as they can across the government. maria: i'm pointing it out because doing your ipo on hong kong's stock exchange today in the face of six months of protesters is trying to legit mise what's going on in hong kong, the water is fine, come on in, even though people are in the streets and questioning the authoritative rule of china in hong kong. >> it may be a lucrative year for ipos if aramco decides to go to hong kong as well. the stock market is up 5% despite the ongoing chaos. maria: quick break and retail in focus, another big day for earnings with abercr

paul: you mentioned and it is well-known that it is a dream of jack ma to have a hong kong listing fork at the bloomberg, we can see that recent ipos in hong kong have not done terribly well. and if you consider the current environment in hong kong, the street protests, the demonstrations, the uncertain future, is this particularly good timing? there was never going to be perfect timing. few reasons why the ipo's haven't been doing well, the primaryse market gives higher valuation and tends to wait until it's too late before they list the companies. confidenta, i am very in the performance because it is not a new company. familiar tovery investors as well as chinese investors. i would not expect any surprises. paul: how important is this for the hong kong exchange? a number of rules have been tweaked for this to go in, haven't they? >> yes, i think it is very important for the hong kong capital market. $11 billion might not be that havebecause after all, we but00 billion market cap, the alibaba listing opens doors to the fungibility between hong i think the u.s., which is going to be t

this is the 11th annual big shopping blowout and the first one since jack ma stepped down as chairmaner president to oversee the event. the numbers are rolling behind me. than $25s more billion. on pace to beat last year's record of around 30 $1 billion. investors see the event as a bellwether for consumer sentiment in china. we need to take these numbers with a grain of salt in that they do not directly translate into revenue or profit. the consumer in china remains resilient in the face of the trade war and china's broader economic slowdown. demand fromll great chinese consumers to purchase overseas products. companies like apple is selling into the chinese consumer market with top sales in just the first few hours. rishaad: is there any hint of a boycott of u.s. goods? you just mentioned apple. any boycotts of this event? rish,: it is interesting, because i had of the event there was a concern there could be some aversion from chinese consumers. in fact, a report came out saying that they had surveyed many consumers who said they were reconsidering purchasing american products. but

jack ma not there at the bell ringing in hong kong.s is something jack ma envisioned for a long time. he wanted to bring list shares closer to home where people, he says, probably understand the business better. in fact, back in 2014 they wanted to list that recordbreaking new york stock exchange ipo in hong kong but because of the restrictions in dual class shares they chose new york instead. they will raise money, $43 billion in a cash pile so they are going to use this money for acquisitions and to invest in non-profit making businesses. stuart: $43 billion. $43 billion. that they should raise that. susan: yeah. i asked about cornerstone investors, who are the main investors in this. they wouldn't tell me who. but you can imagine the biggest wealth funds might be involved. stuart: okay. now we have -- there's an activist investment firm called starboard. there are lots of them but this one in particular have taken a stake in cvs. what are they up to. ashley: that's a good question. they are very much activists. they will go in, they