to have influence or power in china under huge and that jack ma thought and she jinping thought are not in this and not compatible with one another and i think that the future for alibaba really lies in what they what can they do without jack ma they need to shed jackpot if they are to succeed. still ahead of al-jazeera a greek prime journalist gunned down in athens we'll tell you what police are saying about that attack and indonesia's film industry trying to make a pandemic comeback. how to more sunshine in showers across much of southeast asia as per usual limp like the showers there filtering their way into cambodia into thailand wanted to shout from the eastern side of vietnam and there's sunshine and shouts where the west sun shines and showers for the philippines but the shot was there nevertheless some lively downpours their cost more than parts of borneo and then ends in asia really cropping it as we go in through the next couple of days some very heavy rainfall coming through we have seen some very heavy rains 69 millimeters in the space of 24 hours across the eastern side

authorities in beijing reportedly forcing a big school founded by jack ma to halt all enrollment according the enrollment halt comes amid the crackdown on ma's business interests. late last year, an affiliate of alibaba suspended the ipo in shanghai following pressure from the authorities. joining me is the bureau chief tom mitchell tom, good afternoon to you in beijing. let's talk about what is driving this how can the chinese government do this and what are they doing to jack ma's school? >> reporter: the chinese communist party can do pretty much whatever it wants the u.s. government tried something like this, the affected university might sue and might end winning if court that will not happen in china. jack ma hasan executive training program imagine mark zuckerberg running one of these things. it is actually only accepting students who are established business people with revenue of $30 million a year a new freshman class was supposed to be starting a couple of weeks ago that class will not be starting. the more senior classes ar still ongoing. jack has not been allowed to recruit a

think i'm a big question for ali baba's future is about how much they can separate themselves from jack ma another story that hasn't been as widely reported at this find is that over the past week jack my executive business school has stopped taking on new enrollment by order of the government essentially what the government is saying in this situation is that they do not want jack ma to have influence or power in china under huge imprint that jack ma thought and she jumping thought are not in this and not compatible with one another and i think that the future for alibaba really lies in what they what can they do with out jack ma they need to shed jackpot if they are to succeed. still ahead on al jazeera campaigning wraps up in beni insolation where the president's opponents say it hasn't been a fact contest. agree crime journalist is gunned down in athens police believe it was a professional heads. it's time for the perfect gentleman. sponsored point qatar airways hello there the heat wave across northern parts of europe of a couple of weeks ago very much a distant memory nabby got more

to have influence or power in china under huge and big that jack ma thought and she jumping thought are not in this and not compatible with one another and i think that the future for alibaba really lies in what they what can they do with out jack ma they need to shed jackpot if they are to succeed. in northern syria areas under rebel control say they need more humanitarian aid some of the most vulnerable people including women and children a strong ling often more than 10 years of war. reports. these women share a common thread each one has lost her husband after a decade of fighting this camp is the place they call home but for these survivors of war making ends meet is tough. we are a group of widows and i am one of them and the situation is difficult life is the fickle i have to sit kids i want to give the medicine tens of thousands of women living here have no source of income and rely on aid from humanitarian organizations these widows say women without children have it worse and find it harder to get support but even with some child support life is hard. the month of ramadan

another and i think that the future for alibaba really lies in what they what can they do without jack ma they need to shut jack if they are artistic. what a spell do you think for a baba's profits an ability to offer it going forward inside china than. as far as i'm concerned i full disclosure am an ali baba shareholder i will not be selling my ali baba shares because i believe that they are still no matter what kind of a court standard to china's economy however their situation right now has me asking more questions than i would have asked a year or 2 ago for sure but you can't have a chinese economy without a bob they are perhaps more central than just about any other company to the future of china and i think that altogether you know the cards are still in their favor but they are far more challenged than they were maybe a year or 2 ago all right thanks so much for your analysis on that. so the head of al-jazeera the medical official who performed george floyd's autopsy says police action caused his death. but. we've got more spring snow in the forecast across parts of here if we've g

they'll just slap him with a fine and they'll move on in this situation we see it at alibaba and jack ma business empire in particular really seems to be in the not in the good graces of beijing and what this and that ends up happening often is that it leads to this sort of reputational damage where a lot of companies don't want to do business with companies or individuals that are not in good with aging and i think that's the big risk for ali baba going forward i think of a big question for ali baba's future is about how much they can separate themselves from jack but another story that hasn't been as widely reported at this find is that over the past week jack ma executive business school had stopped taking on new enrollment by order of the government essentially what the government is saying in this situation is that they do not want jack ma to have influence or power in china under she didn't think that jack thought and she jinping thought are not in this and not compatible with one another and i think that the future for alibaba really lies in what they what can they do without jack

annmarie: this is on the heels of what happened with jack ma and alibaba. how similar are these restrictions? >> he was the poster child. the case study. he was the biggest player in e-commerce and ant group the biggest one of the platform companies into financial services. they have a $35 billion ipo waiting in the wings that was scuppered. perhaps because jack ma was so outspoken and he had severely criticized again the government and the regulators and the state thanks etc. etc., there was speculation maybe this was the chinese government saying enough is enough, we are going to knock jack ma down to size. the news overnight end of the 13 other companies that include the other half of the duopoly, tencent, it shows us very clearly the government is not necessarily trying to knock down the titular heads, the tycoons. they are going after the risk stacy -- risks they see with financial services of technology companies. that also has to put supervision and compliance on future listings and that affects companies that have plans to list. annmarie: i imagine

to have influence or power in china under huge and that jack ma thought and she jinping thought are not in this and not compatible with one another and i think that the future for alibaba really lies in what they what can they do without jack ma they need to shed jackpot if they are artistic the talent has set up 10 field hospitals in bangkok to deal with the surgeon coronavirus patients new beds can accommodate up to 3000 people thailand is struggling with a new wave of infections with 500 new cases on friday coronavirus infections in india have hit a record high for the 4th day well the 145000 cases of course since on saturday. in all the syria areas under rebel control say they need more humanitarian aid to some of the most vulnerable people including women and children struggling up to move in 10 years of war they harden reports. these women share a common thread each one has lost her husband after a decade of fighting this camp is the place they call home but for these survivors of war making ends meet as tough as martha we are a group of widows and i am one of them and the sit

used to dress up as michael jackson and dance on stage the piece, "the vanishing billionaire, how jack maul of xi jinping" is in the paper. thanks for the time, ryan. >> thank you for having me on. >> can you help us understand what ma's status is right now in china, at least culturally >> well, he's definitely fallen afoul of the upper echelons of the chinese government, and so i think it is kind of unclear what is going to happen to him long-term. at the moment we have heard from officials that he's been basically told to lie low. i guess that's a pretty common occurrence when your businesses are going through restructuring and under regulatory scrutiny. so that is the current state what will happen next is unclear, but it seems like he is going to have to lie low for at least a while longer >> ryan, jack ma has been known as sort of the people's billionaire, chinese consumers, chinese population really appreciated his origin story as an english teacher, but public opinion has been changing as well, right? how are they viewing him and did that play into, you know, the government's abili

first alibaba and now ant, jack ma's simtech firm is being forced into an overhaul just days before his business was forced to pay a record fine. asian equities look poised to follow the u.s. lower. regional futures in the red after the benchmark in new york edged down from record highs. haidi: let's take a look at the state of play when it comes to this early-morning market session. sophie, what are you seeing? sophie: this april, asian stocks are losing momentum. it capped a two day drop. we could be looking at a mixed session. futures moving to the downside and we do have aussie yields moving higher. testing 27 basis points. bond traders may be testing the rba's yield control. shaun roach says the rba is the canary in the coal mine for central banks, ahead in its labor market recovery. futures edging slightly higher early in this asia session after we saw cash bonds stabilize on good commands for auctions. heads up, today, we have indian currency markets offline but we saw the rupee slumping. inflation jumping more than forecast for the economy in march plus india surpassing brazil a

rishaad: and a forceful overalls -- overhaul, how jack ma's ant group will revamp its business based on china's demand. this is bloomberg. ♪ ♪ rishaad: jack ma's ant group will drastically revamp its business given demands from china. both ant and regulars confirming these changes, what we know thus far? >> executives from ant financial and ant group had meetings with regular to from pboc and the banking regulator and it confirms bloomberg's report. it will be put into a financial holding company, treated and regulated more like a bank. regulator said that ant group had to put in place significant changes, in terms of and including, reducing the consumer loans business and putting caps and restrictions there, also its massive money market fund as well. they have to reduce the value of the uae bound money market fund and make sure they have proper protections in place for personal data and ensure adequate liquidity, changes around corporate governance, a pretty thorough overhaul. it follows on from the record fine we saw imposed on alibaba, the other jack ma company yesterday, $2.8 bi

the move seems a way to apiece chinese regulators have come down hard on all things alibaba or jack ma related ant group dismissing that report releasing a statement on twitter calling the article baseless >>> if you have a peloton treadmill plus and kids, listen up regulators are saying to stop using the tread plus treadmill if small kids or pets are present. this comes after one month where peloton disclosed an accident which resulted in the death of the child. the cpc says there was a report of a child getting stuck underneath or sucked underneath the treadmill. the company says there is no reason to stop using the treadmill if people simply read the safety manual and do not allow kids or pets to come near it the stock is down 6% this morning. >>> grab co- founder is set to gain voting power when they list on the nasdaq later on this year who is grab? a ride sharing company like uber based in asia. tan will gain more than 60% of the voting power when listed on the nasdaq that is rare and level and equal only to facebook's mark zuckerberg in terms of voting power and ownership stake.

not to mention it does list that uncertainty around alibaba, around jack ma. what next? stephen: there will be some rectification's, that is the terminology the regulators put out there. that is something alibaba is already likely embarked on. in that is particularly, this one practice of forcing merchants in china to choose alibaba or others. so, that is going to have to be rectified. and also, the question is, they own 33% of their fintech arm and group. we don't know the rectification's there. there has been lots of speculation. bloomberg news has reported perhaps the data as well as parts of and need to be put under oversight of the pboc, or other regulatory bodies in china. there is a longer process with the fintech arms because that is talking about risks to the financial system, and challenges to the state owned banks, and lending practices that probably need much more investigation than a four-month antitrust or monopolistic behavior that we saw with alibaba. however, daniel zhang, the ceo, put out a statement, this is alibaba's ceo, put out a statement saying al

ant group has denied they are looking for ways for founder jack ma to sell his takes to appease chinesen reported that officials at the pboc and insurance regulatory commission with -- said that ma's exit was discussed. clubhouse has reviewed its new series c round. it was reported the latest round would value the stock at quadruple from january. the company did nws has investet and horowitza south china mornis a card will work for buses and rail transit and ferries in the mainland by the end of the year or early 2022. the paper says octopus is discussing e-wallets and other asian countries. rishaad: we are set to open in bangkok. the thai baht with a major move. a brewery unit planned to list as well. that was announced after the market closed on friday. the stock price jumped the most in 13 months. it was down as much as 5.4% at one stage. it was going to be a $2 billion brewery unit ipo. they are pointing to the pandemic. elsewhere, india making headlines for the wrong reasons, adding many coronavirus cases in a single day. we will also be given you big interviews out of the shanghai

to have influence or power in china under huge and being that jack ma thought and she being taught are are not in this and not compatible with one another and i think that the future really lived in what they what can they do without jack they need to show jack might if they are arch it's the. killer just in egypt serve discovered a 3000 year old lost city over the decades the well preserved settlements was find as they search for the mortuary city of kings is uncommon near the city of luxor egyptologist believe this could be the most important discovery sensed his income the circle focus was on her estate in 1920 scene. this is al jazeera and these are the headlines a coalition of 3 powerful armed groups in the mammas reportedly attacked security forces for the 1st time since a ceasefire in 2019 at least 10 police officers in the eastern shown states were killed in an attack in on tony chiang has more from bangkok. these groups operating for decades along the border but very rarely together however since the military coup in favor of the 1st there has been talk of alliances of the

antwerp denied a report that is founder jack ma is giving up control.d earlier that forces from the pboc [indiscernible] had recently agreed to overhaul its business and will be regulated more by the bank. the italian government owned industrials and it talks to sell its bus business to china's groups. that decision was welcomed in france, the finance minister noting how he and italy's economic start working together to maintain europe's manufacturing interests. a hong kong company is planning a new transit hub that box and where than 300 cities in mainland china. the south china morning post as the hubble work for buses, taxes and rail transit in the mainland by the end of this year or early 2022. there also discussing nt while it used with payment platforms\ and other asian companies. the shanghai auto show continues. we're hearing from the porch china president and ceo. coming up next on daybreak asia, china hit back after president biden and his japanese counterpart criticize patients policies. the bookings director director joins us to discuss. thi

it shows this is not just taking down jack ma.hat was speculated early going when jack ma and of the ant group ipo was scuppered. he was out of public view. there is a lot of speculation this was about taking down the most vocal and high profile of the tech titans. this shows the regulators are going after the risks that the financial innovations that come from fintech is posing risks and is under regulated. among these rectification's, and there is a long list. go on bloomberg.com. i don't have enough time to go through it. companies laughed register they financial links to operate. payment services have to return to their roots. the long list. you see it right there. this is going to be an ongoing story. shery: you will be there to tell us about what happens. chief north asian correspondent stephen engle on the latest regulations against chinese tech. a huge gap in fact seen -- in vaccine access across asia. this is according to the asian development bank. while it is too strong gdp growth this year, the bank says covid-19 outbr

2000000000 euros for breaking rules on fair competition regulators said the company founded by billionaire jack ma had abused its dominant position and china's communist party is cracking down on tech companies and says enforcing anti monopoly rules is a priority in 2021. amazon warehouse workers in the u.s. state of alabama who voted against forming a union the decision is a blow to campaigners who were hoping for a new era of worker activism on the president joe biden 27 states have passed so-called right to work all that code counts. tens of thousands of people are being evacuated from the area around the volcano on the caribbean island of st vincent after it began erupting on friday the volcano has been spewing smoke and ash across the island it had been dormant for decades until december last year when it began showing signs of life. watching the eruption ejected smoke kilometers high into the air. good god last of free air created an ash cloud so thick it hit the sun poor visibility forced airlines to cancel flights to and from st vincent here let's go there slow down scroll down the right t

2000000000 euros for breaking was unfair competition regulators said the company founded by billionaire jack ma had abused its dominant position in china's communist party is cracking down on tech companies and says enforcing anti monopoly laws is a priority and 2021. police in greece have launched a manhunt after a veteran crime reporter was shot dead outside his home in athens your goes carry us was ambushed and shot several times as he arrived home from work investigators say the shooting looks like the work of professional killers. it was described as an execution style murder flowers mark the spot. well well known greek journalist your ghost kind of us was killed by several gunshots in front of his apartment in athens. vast was on his way home from a midday broadcast when 2 men on a motorbike threw up alongside him and opened fire they killed him without a sound which is why police think they were using a silencer on most of the most of the locals mostly sponsors of the country's journalism community is in shock no one will stop investigative journalism in athens all of greece we call indi

2000000000 euros for breaking rules on fair competition regulators say the company founded by billionaire jack ma had abused its dominant position china's communist party is cracking down on tech companies and says in forcing anti monopoly laws is a priority 2021. tens of thousands of people are being evacuated from the area around the volcano on the caribbean island of st vincent after it began erupting on friday the volcano has been spewing smoke and ash across the island it had been dormant for decades until december 2020 when it began showing signs of activity. watching the eruption ejected smoke kilometers high into the air oh my god last a free air created an ash cloud so thick it hid the sun poor visibility forced airlines to cancel flights to and from st vincent here let's do this load our heads roll you're not here it doesn't just smoke started cooking there saw the i mean it does get planning going to see any industry there may be those there you go over 16000 people living near the volcano were ordered to leave the area for their own safety by st vincents prime minister ralph gone sout

there has been a certain amount of pushback towards the jack ma empire, which is alibaba and financialst of alibaba a while ago. that is why they are approaching this regulatory crackdown with a certain amount of gratitude because they are trying to limit the amount of damage. of course, the investigation itself is only four months or so. there is perhaps good reason for gratitude. alix: fair enough. but i wonder who is next. how much is this specifically in alibaba thing versus how many other companies and investors need to be worried. alex: we certainly look at what is going to happen it tencent, which dominates social media and the music industry, for instance, and china. the difference is that the chairman of tencent and founder is perceived as being a little bit closer to the ruling party, and therefore maybe -- and of course, he keeps a lower profile than jack ma does, which china tends to appreciate. there is suspicion that might help him a bit. but if the fear is these companies are getting too big and holding too much clout in china, there should be no good reason why tencent d

it is not in their interest to see tech companies become smaller and weaker. >> what leverage does jack may have the data which the government wants, as well. >> i would not disagree with that. >> a year and a half ago china released a document codifying data as one of the core factors of production, under the idea you must have a well regulated data market to maintain growth. this is the core operating principle china will be using to regulate big tech over the next 10 years. it has not entered into the western lexicon. >> the chinese government is mulling a state-backed venture with a large platform to oversee how their combined data is managed and shared. >> it would not solve the problem. there should be an agency in china that serves as a champion for the internet sector. in other words, not try to crack down on the problem, try to develop the sector. >> but pooling data raises a host of privacy issues. pony ma conceded data is complicated. it is a fine line between insuring privacy and opening updated to sharing. baidu claims to be open to opening up their data vault. >> we run a lot

learned his lesson and you won't see him being that outspoken that was one of the great things about jack mabut after this, what kind of voice does he become? >>> moving on, the chip summit set to kick off at the top of the hour meantime, two online date games getting some love, initiating bumble and upgrading match, both as buys. "techcheck" continues in just a moment get decision tech from fidelity. [ cellphone vibrates ] you'll get proactive alerts for market events before they happen... and insights on every buy and sell decision. with zero-commission online u.s. stock and etf trades. for smarter trading decisions, get decision tech from fidelity. hey frank, our worker's comp insurance is expiring, should we just renew it? yeah, sure. hey there, small business owner. pie insurance here with some sweet advice to stop you from overpaying on worker's comp. try pie instead and save up to 30%. thirty percent? really? get a quote in 3 minutes at easyaspie.com. wow, that is easy. so, need another reminder? no, no no, i'm good. uh, yes please. oh. ho ho ho, yeah! need worker's

months of scrutiny into jack ma's empire seem to be coming to an end at alibaba's fintech group set toiny of the firm. joining us, the host of "kudlow," larry, investors are happy probably to see the end of the doctor drama, jack ma's literal disappearance and tightening of the policy, is this good news? it looked like he was under the thumb of the chinese political party? >> they had to put a gun to his head to join the economist party. he said he wasn't a communist. went on various business networks, said that time and time again. then you didn't see him for a while. then he resurfaced, you're absolutely right. this is kind of the way the chinese do things, right? in autocracy, communist party of china is not good. look, i think all u.s. investors should be extremely wary of investing in chinese companies. i don't think you get the truth anymore and they don't pass our regulatory sec blue skies muster. they don't pass britain's either. now that hong kong has been taken over, you can't trust the hong kong exchanges. i think this is part of a larger problem. liz: you talk about how ham

and one executive said to neutralize jack ma but didn't actually want to for the company at the end ofimportant for the society here of course, it not only creates jobs but all of these merchants use the payment system in order to, you know, get money, and have payments made so, one other thing, though, that's interesting and an indicator. just a couple moments ago, chinese regulators called in ant group executives -- central bank said that ant group is going to apply as a financial holding company. and that -- ant just has to follow certain regulations in order to ensure to beijing that it is rectifying its position. in other words, the government wants the ant group to survive >> interesting we're all fascinated by the -- i mean, it's you know, we can learn a lot about capitalism from the chinese, but when push comes to shove, we realize it's really not exactly the same thing when the government has such an outside say in all of these things it's like a weird, kind of a hybrid, eunice but obviously works pretty well. anyway, thank you, eunice yoon, we'll see you again. it's been a wh

fate of jack ma and some of his empire.an eye on the crypto space. this will be a big week for crypto. that coinbase direct listing coming tomorrow. you are seeing silver gate and a lot of companies involved in the transactional side of bitcoin and crypto really getting a bid today, as well as yesterday. tom: thank you so much. greatly appreciate it. we welcome all of you across the nation and worldwide on radio, on television. of course, the news that johnson & johnson's vaccine is pushed aside temporarily over blood clots. a distinction we have learned from the experts, including sam fazeli at bloomberg diligence, is -- bloomberg intelligence, is the distinction with astrazeneca . it is not astrazeneca, and that distinction is four zeros after the decimal point for astrazeneca versus the really scant six zeros for j&j. that really sets up a separate, much more cautious tone from washington. we will hear more no doubt this morning. matthew horn buck -- matthew hornbach with us of morgan stanley, head of global macro strate

euros for breaking rules unfair competition regulators said the company founded by the billionaire jack ma had quote abused its dominant position as china's communist party is cracking down on tech companies and isn't forcing anti-monopoly laws is a priority in 2021. meanwhile india has reported more than 145000 new coronavirus cases the largest daily increase by far since the pandemic started infections have surged in recent weeks prompting many states to impose tougher restrictions like curfews and weekend block towns. and german chancellor angela merkel plans to introduce legislation aimed at giving the federal government more powers to impose a nationwide pandemic rules berlin wants to impose national restrictions if new infections go over certain limits germany is battling a 3rd covert 19 wave and doctors warn hospitals will soon be overwhelmed here's more from our reporter. if i want to go shopping and i can do that if i get tested before i can do that right in front of the shopping center to test the smoke free. the testing bed. goes in an hour and the shopping can begin with these

for breaking the rules on fair competition regulators said the company founded by the billionaire jack ma had quote abused its dominant position in china's communist party is cracking down on tech companies and says enforcing anti-monopoly laws is a priority and 2021. a volcano has erupted on the caribbean island of st vincent for the 1st time in 4 decades 20000 people have been evacuated but the coronavirus has complicated the operation neighboring islands say they will only accept a vaccinated people. and archaeologists in egypt have unveiled the ruins of an ancient city dating back nearly 3 and a half 1000 years the site located near the valley of the kings and looks or is the largest ever discovered in egypt experts are calling it the most important find since the discovery of 2 incomes 2. and police in greece have launched a manhunt after a veteran crime reporter was shot dead outside his home in athens. us was ambushed and shot several times as he arrived home from work and massacred vestibular say that the shooting does look like the work of professional killers. it was described a

billionaire founder jack ma has been under scrutiny from chinese authorities after criticizing the country's regulatory system. pfizer and biotech have applied for approval to use their covert 19 vaccine on 12 to 15 year olds in the u.s. the companies say phase 3 trials for younger teenagers have been effective they plan to make similar requests around the world in the coming days those are the headlines don't go away though i'll have another update for you in about 25 minutes time here on al-jazeera up next is for rebels we'll see if. the story goes that the statue of an ancient greek god he beat the waves for millenia. until a palestinian fisherman on earth the priceless relic. this story continues that has the world's attention was drawn to cause mysteriously the day it disappeared once again. the apollo of ca's. on a. i'm going to. study this until. one time it was for me to see. that you don't. understand. there is a serious. emotional but it is true what it is that it. took me. in about a. misimpression. in a brought them to with which she said. stood up but to seal off if. i might tha

party now picking-- beginning to start squeezing the giants, the commercial business giants, like jack mau.s.- china-- it's not necessarily a cold war, but it's an age. this is the two superpowers are now facing off, and how that plays out. >> reporter: are you anticipating another debt crisis, particularly as it relates to, say, commercial real estate, as these offices don't fill up, as you have fewer tenants across all of these mega, fantastic cities? >> i tend to think that, you know, history doesn't repeat itself. it might rhyme sometimes, but it's not the same. so we shouldn't look at a replica of 2008, but when people say to me, "inflation has been banished, it's a new model." any time people talk about "new paradigm," i start running for the hills, or at least my old editor's office. >> this is pbs newshour weekend, saturday. >> sreenivasan: and now an update on a report we brought you back in november, a family separated due to covid-19 shutdowns. newshour weekend's laura fong s the story. ( children giggling ) >> reporter: it was a reunion eight months in e making. just two weeks

says the company has been penalized for abusing its dominant market position as billionaire founder jack ma has been under scrutiny from chinese authorities after criticizing the country's regulatory system. pfizer and biotech have applied for approval to use their covert 19 vaccine on 12 to 15 year olds in the u.s. the companies say phase 3 trials for younger teenagers have been effective they plan to make similar requests around the world in the coming days. india has reported a new record number of corona virus infections in the past 24 hours more than 145000 cases were reported on saturday this is the 4th time in a row the country has broken its previous single day tally the western state of maharashtra is the worst hit its capital known by along with a growing number of other cities and towns have imposed not curfews that we can. grow about as cases are continuing to rise across parts of latin america health systems in several countries are breaking point to raise the boat has moved from argentina its capital when a site is. the rise of infections in latin america confirms that the 2nd

e-commerce platform has been painting lies for reportedly abusing its dominant market position founder jack ma has been under scrutiny from chinese authorities after he criticised the country's regulator a system. a lost city has been discovered in egypt it's well preserved a maybe the largest ancient city ever found the settlement was uncovered while searching for the watery city of king took in commune near the city of luxor under chapelle reports. while piecing together the remains of an ancient civilization archaeologists in egypt came across something unexpected clay pottery wine vessels and colorful jewelry from a city that has not been seen in 3400 years we believe that this girl didn't last the city is the most important discovery after the discovery documented on come what i call the golden because the rest found in the golden age of egypt 39200 b.c. i cared less city because it was lest moon only believed that the city could exist here. it's the largest ancient city ever found in egypt according to the team that discovered it several neighborhoods and homes with walls nearly 3 metres

a lot of people extrapolated when they saw jack ma go quiet after the aunt ipo was scuttled. -- ant ipo was scuttled. this proves that this crackdown is more against the risks to the economy then the risks from a single titan like jack ma. haidi: stephen engle, our chief north asia correspondent. let's turn to vonnie quinn. >> the indian prime minister's party appears to be trailing in exit polls in a handful of key state elections. polling indicates voters in the battleground state of west bengal plan to hand the victory to one of modi's main challenges. the elections are seen as a barometer of modi's popularity. germany, france, and other european parliaments are looking to curb travel from india. there is no concern of possible coronavirus variants -- now concern of possible coronavirus variants in india. the united kingdom might add the u.s. to its proposed green list of countries as part of a plan to gradually reopen its borders. the head of london heathrow says progress on covid-19 vaccinations in both countries creates the possibility. singapore, hong kong, and parts of the carib

well do you think this will catch on around the world you know we we're well used to people like jack ma the billionaire co-founder of but big e-commerce in china he says he's a firm believer in the called 9006 rule isn't to you work from 9 am to 9 pm 6 days a week you rest on the 7th day that's how he thinks you should make big money. i think that approach is wrong and really have you know as a part of this very large kind of academic community that looks at working hours and this impact not just on productivity on but also on the social costs there's so many social costs that come with it well to begin with it's not very productive those very long hours and resulting in lower productivity and you even actually end up making mistakes to the point where it becomes negative productivity for most workers i'm not saying all but for most workers also the long term costs of that so workers tend to burn out easily they go into sickness and absenteeism which is not disruptive only for the workers but the whole work group or the company as a whore there's a huge implications in terms of the empl

when you talk about you know funds or any sort of fine but the fact is their stock price went up and jack ma the founder of ali baba he gave about $2000000000.00 on monday alone just from that so he's making a lot of add up. with that l as the backdrop the chinese government has now issued this warning to dozens of companies what are they telling these companies to do. yes i mean for companies like you know to incent indeedy essentially everybody who's operating some kind of a mobile platform in china or an internet service company and what they're being told is take heed you cannot violate these antitrust laws in china or we're going to hit you with similar fines maybe even larger fines and collectively these this group of internet companies has already responded to the chinese government saying that they will essentially comply and they will make sure that they're not in violation of it the idea here is to not stifle i know that sounds crazy britain saying this coming from china right is to not stifle competition it isn't on stifle what is happening in the in the tech space in china and to

e-commerce platform has been penalized for reportedly abusing its dominant market position founder jack ma has been under scrutiny from chinese authorities after criticizing the country's regulator isa system those are the headlines more news for you here on al-jazeera after talks you through today's inside story. it's the worst violence northern ireland has seen in years pro british loyalists have been rioting every day for a week angry about those issues more than 20 years since the good friday agreement is peace in northern ireland this is inside story. hello welcome to the program. the 1998 good friday agreement brought peace to northern ireland but the issues that divide of the region haven't gone away and now in the aftermath of the u.k.'s departure from the e.u. the situation has got worse and threatens to derail vatican pro british loyalists say the post begs a trade agreement what's in more than plays in the u.k. while i wish nationalists accused them of using the issue to stir up trouble dozens of police officers have been hurt in a week of riots prompting regional and internatio

alibaba has been under intense scrutiny ever since jack ma, is billionaire founder, public criticism$2.8 billion penalty is 4% of its 2019 domestic revenue. this fine came with a whole slew of corrections that alibaba will have to put in place such as not forcing merchants to choose between alibaba or a competing platform, many of which the company has already pledged to change, and they say beijing remains intent on reining in its intent and vent ex—giants, its intent and vent ex—giants, it is a campaign that is already erased some $250 billion off alibaba's valuation since october. china's top financial regulators now are looking at other tech giants such as tencent is the next target. also looking to work with local technology giants to oversee the data that they collect from the hundreds of millions of chinese consumers which, of course, would be a further tightening of the group over the country's internet sector so you may find a whole slew of china's other big tech firms will start to fall in line managers does alibaba has done today. line managers does alibaba has done today-

. $2800000000.00 for violating monopoly and the billionaire founder jack ma has been under scrutiny from chinese authorities after criticizing the country's regulatory system pfizer and biotech have applied for approval to use their covert 19 vaccine on 12 to 15 year olds in the u.s. the company says phase 3 trials for younger teenagers have been effective those are the headlines i'll have another update for you in about 30 minutes we'll see them by. vaccines a promising paul thought of the pandemic but implementing the greatest inoculation in history is testing the global community around the world already a clear gap as the match between rich nations and poor ones when it comes to vaccinating their populations from the geopolitics to the pure economics the misinformation and the latest developments what's going on here is very different 1st of all incomes in the fall of the nasal spray a special coverage of the corona virus pandemic. world. leaders and. she's been recognized as one of the world's greatest female leaders united nations deputy secretary general i mean i'm hommage has ris

then began the antitrust investigation into jack ma's empire in the financial arm last year.y have already come to the end of the antitrust investigation. first, the antitrust find against alibaba. they are pushing into a holding company that is going to be regulated by the central bank. the idea is to curb some of the anti-competitive behaviors. and the target seems to be to allow smaller companies to compete in some of the areas that have been dominated by the giants. alibaba has had tremendous sway over the tech industry particularly. probably because they dominate the two business -- two biggest businesses. and because they become venture capitalists for the startups. two different spheres that are dominated by the players. there is not a lot of room for competitors to come in. they want to change that. haidi: peter elstrom there. let's get you a quick check on the latest business flash headlines. china's finance ministry to be considering track transferring asset wealth management. according to a source, one of the proposed transfers for the investments is that it has mo

jack ma's ant group will revamp its is this. -- its business. tom mackenzie joins us from beijing. both ant and the regulators confirming these changes. what do we know? tom: it largely aligns with bloomberg's own reporting. we know the pboc, the banking glitter amongst others and essentially dictated the terms of this restructuring to the executives. there are going to be five key areas that aunt is -- that ant is going to have to address including what regulators described as unfair competition in the payments part of the business. they're going to have to improve corporate governance, manage liquidity's. they're also going to have to cut the value of their massive money market fund. as a result of all of this, ant financial will be put into a financial holding company and it will be regulated and supervised much more like a bank. what this means for the company going forward is growth is going to be constrained according to experts bloomberg has spoken to. the question is, when will this company ipo if at all? the ceo has committed that will still happen but it could have been p

obviously, there is the whole backdrop about beijing cracking down on china tech, especially jack ma'sire. there are fears it might go beyond that and engulf others like tencent, still, it is in a very strong position to keep investing. analysts have said it is a good time to do it, expanding aggressively into these other areas like online groceries and community fighting -- community fighting. it shows there is an appetite for this, it was well-received by investors as well. the books were well covered, price close to the high-end. that suggests pretty strong demand from investors. rishaad: thank you very much. one chinese ev maker says it is confident on building record sales. the founder and chairman believes that the company's family sedan model will drive exclusive growth when released later this year. he spoke inclusively with tom mackenzie at the shanghai auto show. >> i think the ev market this year, especially the smart ev's will see huge growth. i believe the smart ev sector will post double-digit growth, and i expect to see the high-end smart ev's depressed significantly, an

. >> what leverage does jack ma have? >> the leverage lies in the cash-rich.have a strong talent pool. they are very sophisticated. >> they have the data which the government probably wants as well. >> i would not disagree with that. >> a year and a half ago, china released a document codifying data as one of the core socialist factors of production. under the idea you must have a well regulated data market in order to maintain economic growth. this is the fundamental core operating principle that china will be using to regulate big tech over the next 10 years and it is something that has not entered the western lexicon. 3 the chinese government is said to be mulling a state backed joint venture with the large platform to oversee how their combined data is managed and shared. >> there should be agency in china which serves as -- in other words, not try to crack down. >> but pooling data raises a host of privacy issues. data is extremely complicated. there is a fine line between ensuring users' privacy and opening up data to sharing. others like baidu claim to

e-commerce giant only barba 2800000000 dollars for violating anti monopoly rules of billionaire founder jack ma has been under scrutiny from chinese authorities after criticizing the country's regulatory system. pfizer and down tech applied for approval to use their covert $900.00 vaccine on 12 to 15 year olds in the u.s. the companies say phase 3 trials for younger teenagers have been effective. india's reported a new record number of corona virus infections in the past 24 hours more than 145000 cases were reported on thursday the western state of maharashtra is the worst hit its capital mumbai how long would other cities and towns have imposed not curfews and weekend lockdowns those headlines they'll be more news here on al-jazeera right after witness which is up next. to. god is that our bad. guy who but the fancy got our. shots. how about for a new best be out of the no long fancy in. the course of the video issue the green. house. and into tech in my columbus for. far right now. a bill of us military. has enjoyed the. new land sheriff shaw who. best stuff or with the many best if. i can su

caroline: it is mind boggling, the fall from valuation, the fall from grace for jack ma. this must have implications for other people running big businesses and even startups. how does it impact the rest of the landscape? shery: the alibaba ceo last night was saying this is not just about alibaba. this is about a global trend where you are going to see more regulation. we actually had pressure for jd.com, for tencent. beijing also wants to create an entity to oversee internet data. not to mention they are going to start curbing market concentration in online payments. we have already seen it with ant group. tencent has been warned as well. we are watching those developments closely. caroline: you certainly well be when you take to the helm. you do not want to miss her programming. it will be plenty more on this story i am sure. two south korean ev battery makers ended their trade secret spat. saving thousands of jobs in the state of georgia. the new controversial voting law. this is bloomberg. ♪ >> for our bloomberg tv and worldwide, we are joined by a special guest right

shery: china has expanded its antitrust crackdown beyond jack ma's empire, launching an investigationnto monopolistic practices by a food delivery giant. the spring and tom mackenzie in beijing. tom, what are authorities telling them to do? >> the antitrust watchdog here put out a statement on monday, saying there investigating. which as you say, is a food delivery giant. but it also offers direct services around hotel bookings, flights, it is a significant part of the economic fabric here. a major after millions of users on the chinese mainland. regulators say they are looking at alleged anti-monopolistic practices. unfair competition. examples they say of arrangements, exclusivity arrangements with merchants on the app essentially forcing merchants to pick one or two. it compete strongly against the alibaba backed out. the allegation that they forced merchants to choose themselves or no access at all. now, according to local news reports, it has already been fined and found guilty in legal cases twice just this year alone. and, it has long faced criticism from merchants and rivals f