this morning, up 7.5% john rainey, the paypal cfo.r being with us >> thank you. >>> european markets are about to close here. seema mody has today's action overseas. >> hi, carl. fresh 52 week highs for the stock 600 and german dax after they left rates unchanged. ecb president mario draghi's final policy meeting after 8 years at the helm, he called on countries in eurozone to step up fiscal spending, signaling monetary policy alone can't do exactly what is expected a big reason for the move higher in germany, earnings from industry bellwether daimler jumping 8%, beating analyst forecasts, despite macro economic head winds. but warned that 2019 earnings would be significantly below 2018 levels, citing weakness in the mercedes-benz truck division one notable underperformer, nokia. plunging 20% after cutting the full year forecast for 2019 and 2020 wiping out gains for the year. citing tough competition in 5g markets and competitive pressure from china in particular i think we know which 5g player they're referring to. >> i have a hunch

paypal said -- >> we remain supportive of libra's aspirations and look forward to continue dialogue onto work together in the future. >> facebook hopes to launch the digital currency, which it says will reconfigure the world of finance in june 2020. recently, progress appears to have stalled. last mononth, french and german finance ministers they would block libra's operation in europe, citing regulatory bids. at the time, libra's managing director spoke. >> the service is not up and running. it is basically a project and ww arare working on that projojecth regulators to ensure we are having the proper frameworks before starting anythihing. >> in response to paypal's withdrawal, the libra association was bullish. >> we are better off knowing about this lack of commitment now rather than later. >> with paypal out of the picture, the project has 28 partners, including uber and spotify. paypal's decision is unlikely to completely grind development to a halt, but it does pose another worrying break to progress for the currency's remaining developers. >> next, trade talks between the u.s. a

no longer paypal. paypal confirms it is bailing us commitment to facebook cryptocurrency project. why analysts think that is a wise move. but first, to our top story. loftyank set some investment goals. so far returns have not lived up to expectations. have a long still way to go and that makes me embarrassed and impatient. i used to envy the skill of the markets in the u.s. and china. he goes on. " there is just no excuse for entrepreneurs in japan, myself included." joining me to discuss is sarah mcbride. what was your key takeaways from this interview? sarah: it turns out that masa yoshi son was being asked about the japanese environment and so, you can interpret his results to be more broadly, why aren't there more entrepreneurs in japan? he specifically mentions southeast asia. there are number of unicorns out of places like singapore. it's hard to see anything similar in japan. in that context, i think you can't say he was upset at himself over the vision plan or something narrow like that. taylor: remind us again about some of the big successes in alibaba and some of the mo

i remember the days when ebay and paypal were the same thing and paypal was a utility so people couldds on ebay. and paypal story is bigger than ebay now which is crazy i would say this i thought it was just for the youngsters out there but more and more -- >> you are a youngster >> i'm in my 40s, so i'm gen x, but the 13 to 25-year-olds use it, but now folks in their 50s and 60s are like just venmo me >> as people become more familiar with them, things like quick pay. i use a lot of f quick pay all banks have their own versions of this >> what made venmo superior in terms of utility was it came in the age of mobile devices. papal didn't have that >> this is what libra is tackling >> we are not going down that. we don't have time but let's talk tik tok the number of new users on that app just fell for the first time ever last quarter. dropped around 4%. this comes as two senior members of congress are calling for a federal review as to whether this chy company because it's chinese owneds a national security risk. >> it dropped, but there were still 177 million users across apple an an

paypal shares rose to 102.79. fraction to e direct clubt m is denying allegations in a class aion lawsuit broughtla week b dental trade organizations, accusing the company of putting skpers at risk and false advertising. smile direct says it has certification and manufacturers are in compliance with fda regulations. shares rose about 7.5% to 14.72. >>> amusement park company cedar fair returned dow to buyout offer from six flags. they felt theroposal was inadequate. six flags is already the world' largest theme park operator with th offer for cedar fair it wasok loing to expand operations and achieve ticket pricing pdaer. fair dropped to 4% to 58.35. six flags rising more than 1% to 39.45. and avia holdingen aing central the partnering to create cloud baseded communication service. avia made hardware for years. filed for bankruptcy two years ago because stiff competition from cloud based like microsoft and amazon. it's now given the entry to the cloud. the shares sky than 28%. >>> it's time now for the weekly mark

paypal pulling out is a blow.ve not seen any of the 27 companies pull out, but we will have to see. new phonoft launched a e. for microsoft to be getting back into the smartphone business? >> the thing about devices today, you are not sure what they are. remember devices called fablets, a folding tablet? anything could be a phone, just attach headphones to your tablet, etc. it is good that microsoft is coming with something that is not just a phone, but another device you can carry with you. it is a new way to think about how you live with computing. a, andnk you, john maed bloomberg technology's alastair barr. coming up, brex wants to replace your bank account with brex cash. we talk to the ceo about how the syntax of any -- fintech company hopes to execute the program. this is bloomberg. ♪ >> in the world of cryptocurrency, paypal delivered a blow to facebook's libra group. facebook said friday afternoon it decided to forego participation in libra and focus on inventing its existing -- advancing its existing m i

uh, he named her-- he takes all the credit for this, but i had to send a paypal transaction to pay ourer while on a work trip, and i signed it "love, erin, stephen, and isis," um, which did not go over well with the department of treasury, so they shut down my paypal account for, um, attempting to fund terrorism. [ laughter ] or get my dog boarded while i was out of town. makes sense to me. [ laughter ] jonathan greenstein is from mount laurel, new jersey. you have a cat with a criminal record. you don't? you-- [ audience laughs ] yeah, dexter got the mailman through the mail slot, so he is, uh, he's, uh, under house arrest forever. i have the document on the fridge to prove it. how old-- instead of-- how old is this cat? what... dexter's nine. what make? what brand? uh, he's a, uh, spotted tabby. oh. instead of "love" and "hate," he has "purr" and "hiss." [ laughter ] i love it. emma boettcher's our champion, and, like most champions on "jeopardy!" and she has e foher currentravels. tell us about that. yes. um, this year, my theme is "major cities whose only vowel is 'o'" because i wa

nongap eps beat by nine cents, paypal reporting 61 cents a share. in strategic investments and uber in libra. both numbers far exceed analyst estimates of 52 cents per share. top line also beat, slimmer margin refb new at 4.38 billion compared to 4.35 billion analysts were expecting. total payment volume also came in above estimates, 179 billion for the third quarter. other notable numbers in this release include 9.8 million net new active accounts and paypal said for the first time ever, it processed 1 billion transactions per month in the quarter you can see the stock reacting up 4.5% in after hours trading back to you. >> leslie, thank you >>> let's send it over to ed lee now for your reaction to these numbers as we've gotten them on paypal. >> i was looking at the numbers here i was zooming in on venmo, actually the payments app that paypal manages and owns they're talking about credit card, consumer brand credit card expected some time next year they process something like, what is it, 27 billion total payment volume, 6% increase. in terms of g

so many different earnings stories, paypal is one you want to feature >> paypal came in and a 52-weekow, down 15% in the second, dan shulman delivered a clinic how to make it so you were doing better than anybody expected they've increased merchants, it went from a head wind to a tail wind for wenmo in september, china, they got approval to buy 70% of a major play on chinese ecommerce and dan schullman endedthe call by talking how to do business with the chinese, play with it, deal with the regulators. do not be a disruptor. >> it's china, it's ali pay, 10 cent you are talking huge players there. i don't know whatter that plan is >> their plan is to be industrial up pay also ecommerce. there is 500 million people in ecommerce. he said if you are not in china, you are nowhere. i thought, you know, david, dan schullman, i think a lot of people felt after the last quarter he was going to miss he did not miss. he blue it away. he got a lot of money. >> he got about 30 times adjusted 220 etfs, it's growing over 20%. >> the street estimates is 316 i think it could earn 350. i don't know how

paypal was one of the most well-known and they are a payments company.understand a little bit about what facebook and the rest of the crew is getting into. they understand the regulatory environment. they understand how products like this exist and work. for someone like that to say, hey, we see too many regulatory hurdles, this is not where we want to spend our time and energy, that is not a great sign for the group. taylor: analysts who cover paypal say ditching libra makes sense, the political attention had really hurt the opportunity. that was according to morgan stanley. anytime an analyst or group comes out and says good you didn't make that move, what pressure does that put on visa, mastercard, the other 28 members debating whether to go in or out? kurt: it puts more pressure on them than facebook. facebook is one of those companies like alphabet or apple that is so big, it can withstand a lot of regulatory pressures and obstacles that other companies can't. facebook prints money from its advertising business. it does not need libra. libra is a si

so paypal pulling out is a blow.ent, from a we can tell, we haven't seen any of the 27 companies pull out, but we will have to see. taylor: john, it was a battle of the hardware funds this week. microsoft came out and released a portable phone. why is it smart for microsoft to be getting back into the smartphone business? john: what's neat about the devices today, you're not sure what they are. remember devices called fablets, a folding tablet? the reality is that anything could be a phone. just attach headphones to your tablet, etc. i think it's good that microsoft is coming with something that's not just a phone, but another device you can carry in your purse or your pocket or whatever. it's a new way to think about how you live with computing. that, butapple to do they didn't. taylor: thank you, john maeda, and bloomberg technology's alastair barr. thank you both for joining me. coming up, brex wants to replace your bank account with brex cash. we talk to the ceo about how the fintech company hopes to execute this

we sold it to a company called brain tree that sells to paypal, and paypal has -- with their huge assetsess, and it's a very big part, as i understand, of paypal today. liz: what's your most exciting investment in 2020 as you look ahead? >> that's the old story, what's your most exciting child. [laughter] where i personally just closed a deal with a company called lex which is a new concept of a real estate equivalent of, let's say, nasdaq where you can buy it, sell minority interests or small interests, less than majority interests in real estate. and that is going to be qualified for non-accredited investors. we've also done several investments in the podcast area, the most prominent is called wondery, dr. death and dirty john -- liz: don't ignore everyone talks to liz, that's my podcast. [laughter] >> sorry, everyone talks to liz, don't forget that one. but we've also invested in a company that's doing ad attribution called pod sites for podcasts, a company called glow which is going to offer subscriptions for podcasters, a company who's going to measure how the content people measure

let's start with paypal. paypal reported a tour de force quarter.ealing that paypal was able to conquer the world's largest and fast growing market by attiring go play in november not go pro go pro is what you wear on your head if you're a goat and own a surfboard. go pay has platforms for online in china let's to what schulman had to say. quote, so first of all, obviously, it's incredibly meaningful to be the first non-chinese company to obtain a payment splice to process domestic online payments in china. then he continues, we have been working on this diligently for y almost every single day. and we work closely with the pboc, other authorities in china, with the administration here to enable all this to happen ha, a road map a blueprint even basically, paypal told us how american companies can crack into china one, work closely with the regulators two, invest quite heavily in compliance and risk management three, be a strong collaborator within the system rather than trying to disrupt it 40, be innovative, but within the existing structure and f

paypal has now pulled their support.xisting businesses. facebook's stock actually up, back to $180 per share. >>> to the box office and "joker." it's not "the joker." let's be clear here. no definitive article there. it's "joker" breaking records. the debut not without controversy, though. concerns about possible violence at the theaters putting law enforcement on edge and very visible at the theaters. did that stop you going this weekend? i don't know. we will deal with the story after this. ♪ the world is built for you. so why isn't it all about you when it comes to your money? so. what's on your mind? we are a 97-year-old firm built for right now. edward jones. it's time for investing to feel individual. hi, my name is sam davis and i'm going to tell you about exciting plans available to anyone with medicare. many plans provide broad coverage and still may save you money on monthly premiums and prescription drugs. with original medicare, you're covered for hospital stays and doctor office visits, but you have to meet

. >> paypal also out.ot of their business is tied to ebay not affecting it much areas they are above the estimate of $.52. the volume up. the estimate was for 176. see the shares moving up slightly after hours. ther q4 revenue right at midpoint of estimates. >> let's get back in terms of our conversation and where we are going in terms of perspectives. let's get that hedge fund manager out because when you look at the earnings from a better perspective, technology in particular, there is so much worry. we have facebook upon the hell then microsoft continuing to bang out cloud being unbeatable trend. what do you make of the individual companies? >> i am a macro guy. let me get my copy out there. -- caveat there. there has been a scarcity of growth in the economy. a potentialto see in that sense, manufacturing trough in q4, i would not be surprised to see some of the value stocks start to outperform will we start to see both the growth and the low volatility barbells be stretched as well as via -- valuations

but paypal is one of more than two dozen members of the libra association.heading up the efforts was formally a paypal executive. just more context, earlier this week, "the wall street journal" reported that other members such as visa and mastercard were themselves reconsidering their involvement. the founding members of the libra association are set to meet october 14th in geneva, switzerland. so we'll see what happens between then >> we'll see if paypal pulling out affects anybody else in that group. we have about five and a half minutes to go. we end this week after what has been such a wild run if you're just joining us, you might notice your screen looks a little different than what you've seen before during "closing bell. we've launched the market zone, where we'll bring you uninterrupted commercial coverage into and after the "closing bell. on the right side of your screen are the biggest winners and losers of the day. and the bottom of your screen, you can see a preview of the next few stories that we're covering it will help you guide you through th

. >> thank you >>> coming up, master card, visa, ebay, paypal dropping out of the leibra coalition where crypto plans go from here. >>> stocks waffling twn beee gains and losses more "squawk alley" after this break. your heart... your joints... or your digestion... so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally discovered in jellyfish, prevagen has been shown in clinical trials to improve short-term memory. prevagen. healthier brain. better life. >>> we just mentioned a list of partners abandoning facebook and libra, visa, master card, stripe, ebay and paypal was first. deirdre bosa has the story it leaves facebook in an awkward position >> reporter: that's right. all of tnames dropping out days before a meeting of the critical association, taking place today in geneva. the association is supposed to appoint a board of directors, turn nonbinding agreements into something more substantial and binding. so who got cold feet the most important group of that association, some of the biggest payments processors in the world. h

it comes after internet giants paypal, ebay and striped also pulled out.y these companies are leaving. facebook has had an ambition to launch this currency, libra, and their goal was to gather a huge group of companies to back that effort, and put in some money to make it happen, and also support it through the various processes it needed to go through, whether it comes to regulators and just getting the project off the ground. now, initially they said they had 28 members ready to get started on this, and they were due to meet for the first time this coming monday in geneva, which is where the libra association, this group, is going to be based. but we have been hearing for some time that some of those members were getting a little bit concerned. and the reason why was many politicians and regulators, particularly in the us, were putting this idea under an awful lot of scrutiny. they were saying what is facebook doing to make sure this is going to be secure? what is the company doing to make sure it is not useful things like money laundering? so now, as yo

visa, mastercard, and now paypal are reported to be reconsidering their involvement in libra.ork. for people who have not been following this, what is the product and where concerned about it? well this is a crypto currency that facebook plans to launch next year. it says it is a way to provide millions of people around the world, particularly those who don't have access to bank accounts, a way of performing financial transactions online. it's pretty hard to do without a bank account, and facebook says it will provide a way of doing that through this libra crypto currency. you would convert your existing money into libra. the way facebook has gone about trying to convince people he should be in charge of a system like this is to have a group called the libra association providing credibility but also financial investment to get this project off the ground. what we are hearing now is that some companies are part of this group are getting cold feet, particularly paypal walking away from the product because they don't have the confidence that facebook has been able to reassure re

visa paypal.we look at square. >> he chose his own adventure. >> is that lourd. >> within a none of the above category. >> so, you know the valuation on square is far too rich which everyone else already said but, you know, they're getting into base i'm not sure how it's going to positively impact them from a money station pinpoint. this is probably sog that's geared more towards millennials. i don't know that it's really -- i don't know that they compete against schwab and td pmt more or less going for the savers that robinhood is working with right now. but frankly i wouldn't want to own any of the brokerage firms right now because there is way too much fee compression. >> switching gears, amazon still lower after the results after the bell for the latest. let's get to josh lipton he has been listening in the on the conference call. >> amazon cf oh on on the call with analysts first question off the bats bat was revenue guidance for the critical quarter highly disappointed. he says we are they a

paypal joins a list of tech names that started offering credit cards to engage customers. most notably apple partnered with goldman sachs to launch the apple card. >>> this is something that has us super excited this moing. two women astronauts are taking their girl power to outer space and into the history books all at once. this is a live look now, the pair right now taking part in the first all women space walk today, after a delay earlier this year. you might remember that that delay was in part because napa didn't have enough appropriately sized space suits. astronauts christina koch and jessica mir will stratravel out the international space station to replace faulty equipment. the signal is breaking out, usually in tvland that freaks us out. this is in space. >> our view from space is not that great. >> it's not perfect. >> the connector jiggle it, that's what works. >> doing it for themselves. >> makes me so proud and excited. i think about my niece and seeing your daughter, they were like we haven't done that before? now we have. i'm excited to see what the future

more details will come and paypal reports on october 23.gged a deal for a new version of the narrowbody jet in september. the orders by an anonymous customer is the first since the megadeal in june. but that agreement has not yet gone through. -184ales for the max are for the year. that your bloomberg business flash. matt: thanks very much for that from hong kong. onco has been weighing in threats to the global economy. the ceo set a hard brexit is better than the current situation of being in limbo and that's a trade war could push the u.s. into a recession. he spoke exclusively with bloomberg editor-in-chief john micklethwait. >> the big picture is very simple. you have a trade war with china and we don't think it gets fixed in the near future. i think the best parallel you can think of, there will be improvements, contagion, there will be ups and downs. see two economies emerging? internets, to supply chains, a much more regional economy? >> a much more regional economy and a global fight for the sectors. to think the u.s. is going slow

i think the reason why paypal stepped out was they ultimately want to create some sort of competitive product, so that i think is at the core. the fact that you have 28 companies in the consortium, that usually don't go anywhere but it does, it is notable to your point, when somebody steps out, i would expect more rumblings around paypal and crypto in the nextyear. liz: i would imagine facebook was ready for some of them to drop out. facebook has billions of a consumer user base. we will be watching it. thank you, gene. good to see you. >> thank you, liz. liz: gene munster, always a pleasure to have you. libra scales getting weighed down, yes, but could ignoring the crypto craze leave the u.s. government behind the curve? with the dow down 36 points and the russell 2000 also lower, and the closing bell about 38 minutes away, central bankers in more than 40 countries, including china, are well into creating their own currency-backed digital token but the good old usa is not one of them yet. in a fox business exclusive tomorrow, the man who is way ahead in the crypto blockchain game, cr

. >>> a paypal's change of heart as they just pulled out of the crypto currency. joining us now is the financial reporter jason brooks. good morning. >> that is a big hit for labor. facebook needs the backing of financial companies for the crypto currency. paypal is the first one to pull out. they reportedly ve ncco backnsla sher around the world. other reports to just visa and mastercard are having second thoughts as well. in the nt reion happeng.ncwithe trade war the zubac and focuses week as china sends a top-level negotiator to washington to resume talks later in the week. meeting. the market this morning is giving back some of friday's gains. let's go to the big board as we are talking about 110 points. nasdaq down 34 and the s&p is falling 13 points. michelle and kenny, back to you. >> k cbs radio. thank you. >> it is 6:45 pm -- a.m. right now. and this could be the video of the day. and ordering day transit into anything but. take a look at this. >> the dee customers a lot more than they bargained for. people were screaming mid- haircut he leaped right to t

out and within that seminar some of the biggest payment processing firms in the world, mastercard, paypales that gave this libra cryptocurrency project from facebook some added credibility. instead they have to go forward without those people. the libra association says they have done that but looking at some of the scrutiny coming down the road at them, it does seem rather difficult. including in the us where there is considerable scrutiny about how this might affect the global financial order. wework has a new problem that could prove costly. it's closed about 2300 phone booths at some of the sites in the us and canada after discovered elevated levels of formaldehyde. the company which abandoned plans for a stock market listing last month has told te na nts market listing last month has told tenants the chemical could pose a cancer risk if there is long—term exposure. dubai property is in a slump. prices are down one third since their peak five years ago and that means some buyers are picking up that means some buyers are picking up villas and apartments at bargain basement prices. inte

paypal announced it was leaving last week. remaining members are due to meet in geneva monday & a charter agreement. facebook shares paired some of the day's gain. we will have more on the access from libra and the challenges facing facebook later in the show. don't worry, those of the blue angels flying by practicing for fleet week. coming up, wework is running out of money but lenders could be coming to the rescue. what this mean for the trouble startup's future, next. this is bloomberg. ♪ taylor: i want to take a look at president trump speaking to reporters. let's listen in. tremendous benefit to our farmers, technology, banking industry, financial services. by now, you know pretty much we have had a very, very good couple of days with china. it looks like that deal is very much on its way. it will be the largest deal ever made for farmers. we are talking about a $40 billion to $50 billion purchase, and other things. an incredible deal for farmers. i will have to go out and buy more land and by bigger tractors. we hopefull

. >>> i'm pulling up paypal stock. paypal might be on the verge of exiting facebook's libra payment project. the times is reporting they pulled out of a key meeting called by facebook for today in washington d.c. as cracks form in the libra coalition. visa, mastercard, and others were thinking about quitting the libra project among increasing regulatory pressure at home and abroad. jay pow wel powell said he will have to look at it closely. the partners are moving higher as is facebook. >>> everybody loves a come back story especially if you are a wall street bull. green on the screen as the dow swings today. 445 points after the wallop we saw over the past few days. the dow is up 67. we had been up 110. shares in tesla are hitting the breaks after they delivered a record 97,000 cars in the third quarter. what's so terrible about that? well, it fell short of the 100,000 deliveries that the ceo let his employees know. it was leaked. it missed what he said to lookout for. still a record. of course, the down grade for the

we have seen companies like mastercard, visa and paypal will walk away from this project altogether. the ground? no one was naive about the ground? no one was naive about the fact that this would require institution building and would require sort of an eye on the future. we are trying to build a generational payment network in a generational payment network in a generational system that was up with the type of innovation recipe not seeing on the plane at the scale we need to see it. will libra still watching 2020? we are still committed but only in a timely manner we are satisfied precatory concerns and achieve regulatory compliance framework for this framework. that was the head of policy 41 speaking to my colleague the bbc‘s samira hussain. let's look at the markets now. due to a puppet market is open for training down by .4%. the index also in the red facet this is because wall street stocks finished lower overnight. thank you very much for investing your time with us. i am rico hizon. sportsday is coming up next. just for sport today, quits bring you up to date with our main sto

huge growth paypal payment volume up more than 60% over last year.basically flat on the dow. 3m was a drag all day. once again the s&p 500 rallied to teen close. 3,009. only 16 points away from a historic closing high on the s&p. >>> welcome to the close bell, everyone i'm wilfred frost. >> i'm morgan brennan along with mike santoli we're in the market zone you can see the day's market action on the right side of your screen with the stories still coming up on the tabs at the bottom of your screen. >> let's check in how we closed. nice rally in that final hour of trade taking the s&p 500 .2 of 1% of gains. dow below the flat line. nasdaq and tech sector led the charge up .8 of 1% >> tech sector up 1.5% busiest dave earnings season coming up we'll get results from amazon, gilead n-tell, visa and alaska air stephanie link is still with us. tim lesko. good afternoon mike santoli we ended off the loss of the session, but mixed picture. s&p up >> nasdaq closed at the high if you look at the chart in the intraday the instincts were in play every time we we

through government financial aid or study loans once the fees are paid to these little money left to paypal commendation or buy food according to government statistics unemployment and poverty are highest among the youth many of these students are the 1st in their families to attend university many of them poor does not as a problem that is really run to south africa all over the world it is what is aptly described as this university scoreboard because you find that students all over the road and then also in developed countries are facing hunger levels of up to 58 percent of the population in some countries as the u.s. attorneys says some students of course to trade 6 food or work long hours at low paying jobs to feed themselves here at the university of the vitus runs about 4000 students are given hot meals every day and 100. food packs every month but according to research almost a 3rd of south african students don't have enough food organizers of the scheme to feed students at this campus say they want to provide food for students in a way that doesn't stigmatize them the food program a

we've seen companies like mastercard, visa and paypal walk away from this project altogether.t it off the ground ? that you will be able to get it off the ground? no-one was naive of the fa ct the ground? no-one was naive of the fact that this would be difficult, that this would require institution building. it would require an eye on the future. we are trying to build a generational playmate network and system that would support the innovation we are simply not seeing on the planet at the scale we need to see it. will libra still launched in 2020? we are committed to launching but only in a matter and time that we have satisfied revelatory concerns and achieved a compliance framework this project. —— regulatory. compliance framework this project. -- regulatory. interesting to see. now let's brief you on some other business stories: boeing has replaced the top executive of its commercial division, kevin mcallister. it marks the first high—level departure since two fatal crashes of its 737 max. the world's largest plane maker faces a growing crisis over the eight—month safety b

. >> ed, in virginia says to carrie, buy or sell or hold paypal >> i like paypal the multiples have come% global payments are still done in cash or checks yes, we like it right here >> yes, jon, this one is for you. from william in nevada, has u.s. dea de steel. >> industrial output, that was one of the reasons people hit the sale button. you are close to the bottom but no, i am not buying it >> from jgina in d.c. what are the prospects for regional banks are they a sell here warren buffett, this is one of his favorite names and wells fargo, those names that now we got the management settle down of wells fargo, that one is still a buy. they're buying back stocks and doing everything the right way and u.s. centric i own the stock. i think it could go high >> there you go. >> thank you all for your questions. more turbulence for boeing 737 max. the stock is pulling back again. there is a lawsuit our expert debates where it goes from here. stephanie is tired of talking about boeing but she will have to talk about it more after this "the halftime report" is honing america's veterans once aga

help would be more can to entities are regulated and other firms that transmit funds, paypal, for example. states, thed backbone of the regulations would be having in place policies and procedures to reduce the use of the system for money laundering and that would be a key point for libre, the libre association going forward. >> please stay with us, richard levin. we want to bring in our chief washington correspondent kevin on capitol hill. you listened to two hours of testimony so far. how many surprises from the point of view of people asking the questions have there been? kevin: there have been several surprises, coming at a time when zuckerberg at one point said in explicit terms that he is unsure if libre is actually even going to be successful. i would quickly make three points. mark zuckerberg greeting a largely bipartisan skeptical of lawmakers who have raised serious national security concerns, civil rights concerns, and freedom of speech concerns from various ideological viewpoints. mark zuckerberg pushback against the notion of financial institutions withdrawing their support s

zuckerberg believes stable partners like visa, mastercard and paypal ditched libra because of increased scrutiny and because it's a risky business. chairwoman maxine waters kicked off the hearing reading off a laundry list of problems facebook faced everything from russian meddling in 2016 and data privacy. she said these reasons make the case why they should be concerned that facebook wants to get in the digital currency world, potentially coming out with a currency that could rival the u.s. dollar. >> do you fact check on any ads at all? >> yes. >> describe what you fact check on. >> well, chairwoman, actually, thank you for the opportunity to clarify. facebook itself actually does not fact check. what we do is, we have feedback that people in our community don't want to see viral hoaxes or, or kind of -- >> let me be clear, you do no fact-checking on any ads, is that correct? >> chairwoman, what we do is we work with a set of independent fact checkers -- >> somebody fact checks on ads? you contract with someone to do that, is that right? >> i, chairwoman, yes. reporter: faced a lot o

paypal became the first to pull out of the facebook led cryptocurrency project.his is bloomberg. ♪ ♪ microsoft reporting first-quarter results as well on wednesday. joining me on the phone to discuss is jeffries analyst who currently has a five rating on microsoft. you have to hand it to the company. 14% topline growth and ninth consecutive quarter of double-digit growth. how are they getting there? >> the cloud. they are crushing it. they accelerate actual cost and currency growth from 15 up from 14 last quarter. they have really embraced the shift to cloud. the cfo and ceo really got ahead of this ahead of anyone. they are taking shares of oracle, ibm and many others in the industry. we think that the momentum continues. what's notable is they have massive backlog. many of these contracts they are signing, they are not recognizing the revenue in the quarter, they are recognizing it over multiple quarters. the opportunity for investors is incredible because these are multiyear contracts that are now measured in the billions of dollars. that gives you future visi

through government financial aid or study loans once the fees are paid to these little money left to paypal commendation or buy food according to government statistics unemployment and poverty are highest among the youth many of these students are the 1st in their families to attend university many of them poor does not as a problem that is really run to south africa or all over the world it is what is aptly described as this political universe this scoreboard because you find that students all over the war and then also in developed countries are facing hunger levels of up to 58 percent of the population in some countries as the u.s. attorneys says some students of course to trade 6 food or work long hours at low paying jobs to feed themselves here at the university of the vitus runs about 4000 students are given hot meals every day and hundreds food packs every month but according to research almost a 3rd of south african students don't have enough food organizers of the scheme to feed students of this campus say they want to provide food for students in a way that doesn't stigmatize them

paypal says the investment for $500 billion of the ipo price has slumped more than a third.er investment in a latin american retailer dropped 10%. analysts are predicting some ugly quarterly numbers for softbank's vision fund after a rough few months for some of the highest profile startup investments. a botched ipo from wework compounded and sharp drops. the write-down could be $6 billion and morgan stanley has switched the profit estimate to a 3 billion-dollar loss. plans to giveer up his seat on the board ahead of another appearance in court. he will remain that at the helm of the company but will not extend his directorship when it expires at the end of the month. li is putting some distance between himself and samsung as he prepares for a brief trial over bribery charges that could lend him back in jail. those are the top global tech stories we are watching. shery: thank you. the trump administration's blacklisting of eight chinese tech companies is more than just the latest salvo in the trade saga. it cast a shadow over revive talks and visions of china being a leader

then we've got this on paypal. we kind of mentioned the possibility of this yesterday.just announced it has officially withdrawn from facebook's libra or cryptocurrency network. it was one of 28 companies that had agreed to back the cryptocurrency and the system that facebook is coming up with. now it is pulling out officially and says we're not going to be part of this for right now. all right. >>> what a week we've had. so how do you invest? well, what better way to invest in you, which is of course fox business's theme now, than with larry hite, the first hedge fund manager to hit $1 billion in assets under management. he is here. larry overcame not just massive vision problems, blind in one eye, half-blind in the other, learning disability, he created a massively successful trading system that earned him the moniker market wizard. he's now sharing it all, he's the author of the book "the rule, how i beat the odds in the markets and life and how you can, too." mint investments founder larry hite joins us in a fox business exclusive. thank you for being here. we want

paypal through the roof. a billion transactions. venmo is just hot.s this just a good sign not just for the overall consumer but for the millenial consumer? >> absolutely. this is where the future is. everyone, you know, who is, my kids, so far are using venmo. this shows indeed, you know, the, that the younger people, the millenials are traps transacting. they want to do it that their way. don't want a lot of bureaucracy or banks. charles: getting wrap, twitter or stay away down there. >> i need to know more what the short fall was. average daily users was advancing nicely. there were tech problems. >> inability to monetize then. 145 million daily activity users wall street estimates. they can't monetize it. if you can't monetize it. you're in trouble. >> same story, privacy issues. charles: david, thank you very much. fox news alert. british prime minister boris johnson asking parliament to approve a national election to take place on september 12th. after parliament rejected his tame table to get brexit done by next week's deadline. saying in a sta

paypal is payments and comcast is entertainment entertainment, sirius.the music plays and let's put in a health care company. let's do that abbott labs. their quarter was great. and we got, i don't know, what do you call it fast payments? entertainment, and real estate it will work i just wish that i had more time to parse that portfolio. make that change put in abbott, and i will be happy. and that, ladies and gentlemen, is our special edition of "am i diversifi diversified? thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. healthier brain. better life. >>> why do the stocks of companies with bad earnings go up why, it's nabaf! i like to say there is always a bull market somewhere. i promise to try to find it for you right here on "mad money." i'm jim cramer we will see you tomorrow narrator: it's been 10 years since "shark tank" ignited america's entrepreneurial spir

paypal says the investment for $500 million and the ipo price has slumped more than a third.uss's third-quarter profit and sales topped estimates as revenue and the home market fell amidst a crowded denim sector. -- the share compared with the average projection of $.28. denim is enjoying a resurgence and the market is crowded, but the latest results show levi is holding ground. markets open at the top of the hour. south korea is closed for a public holiday. let's turn to sophie for what to watch. sophie: nikkei futures are pointing to losses of more than 1%. the asx 200 falling 1.1% this morning with all sectors in the red. the yen inching slightly higher, around 107 per dollar as the risk off sentiment seems to be building ahead of thursday's u.s.-china trade watch. thiss to watch in tokyo, one after a deal to buy an american skincare brand. bloomberg intelligence expects the deal could curb their losses in the u.s. and they see potential to expand into china. this one is on the radar after reports top executives plan to resign. japanese retail earnings are upon us. cut its

but master card and itsal r visa and paypal may soon be facing new competiti when i comes to the digitaldra bosa reports on the future of money from las vegas. >> what are uber ebay andok facebo doing at a fincial services conferen. >> uber is a logogtics company. >> ebay is an ee comme company. >> upper back eyer is a text. >> facebook is a social medi platform. >> they're also increasing taking payments and financial services into theirwn hands. and all along with apple, microsoft, pinterest and others ainge o attending money 2020 an annual event briing together thousands of founders investors and leaders and banking and technology to discuss the future of money. uber announced uber money, a new division pushing deep near financial services which includes a digital wallet and upgraded depepebit and credit cards. >> if we could do it it fastest we bring the idea of cash to the digital world. >> ebay laid out the strategy to bring the payments process in-house to better serve the platform's merchant. >> we're grounded in creating better experiences for buyers and sellers. and control the

paypal's exit is a blow against the socicial media giant's plans to partntner with credit card companies, banks, and gig economy giants to create a cryptocurrrrency that could reape the woworld's financial systemem. california will become the first state to offffer hiv prevention drugs s without a prescripiptio, after gogovernor gavin newewsom signed a law monday expected to greatly increase access to the life-saving medication. newsom said in a statement -- "all californians deserve access to prep and pep, two treatments that have transformed our fight against hiv and aids. i applaud the legislature for taking action to expand access to these treatments and getting us close to ending hiv and aids for good." hong kong's chief executive carrie lam on monday refused to rule out turning to china's military to quell pro-democracy protests that have been raging for weeks, as demonstrators defy a ban onon face mamasks that wet into effect last week. meanwhile, in the united states, the nba stands accused of bowing to chinese censorship after the pro basketball league apologized for a tweet by

. >>> facebook has lost paypal is a major partner for its crypto currency libra.reet journal reporting other partners like visa and mastercard might be cutting ties. libra has been under fire over concerns about consumer privacy and potential money laundering. >>> it is one of the creepiest times of the year. in the bay area. and not because halloween is coming up. these little guys.>>> in the human brain, billions of neurons play in harmony. for people with parkinson's, some neurons change their tune, causing uncontrollable tremors. now, abbott technology can target those exact neurons. restoring control and harmony, once thought to belost forever. the most personal technology is technology with the power to change your life. >>> tomorrow is totally a pancakes and eggs breakfast. do both. don't pick one. 37 degrees tomorrow morning. a chilly start. aniline low 50s. anywhere near the water. beginning at 6 am with darren peck. >>> tonight we are getting a look at what some may call one of the creepiest times of the year in the bay area. this weekend there is a good

company and these paypal for a whole day of a few blocks and i am the other cruise ships coming to 50 a year really must be weird for them or take a picture of their houses that is what you expect when you live in a cruise ship town. that's why we don't live on anything staff most of that stuff are there hard their folks to hardly come to tell problems them saying. welcome to america it will they get approximately 45 minutes to reach king's landing is a beautiful serving there is dark room full of tourists. who believe here people are happy then because you know that what you gave them wasn't just gravy and the story it was such a good story it was on this story you onto helping churning dubrovnik into some sort of a display lamp well that's what we that's what we are trying to avoid you know. brother nick is becoming these new end regardless of the game of thrones so you have an opportunity to sail ana kim. they have been married 30 gary in the u.s. congress in a row seat and beth was filmed on the front deck of power. there during exams scenes in dubrovnik in croatia croatia and our

look at ebay/paypal. better with the paypal piece tripling in value from where it was spun out carl icahn forced that to happen it was not going to happen voluntarily. when it did everyone was like we should have done this ten years ago. the baby bells, classic example. tons and tons of shareholder value created. they fought it tooth and nail and then spun them off and people made an absolute fortune. if you are saying regulatory wise elizabeth warren will be bad for google or trump after facebook, whatever they're going to say, that actually historically works out to be a positive catalyst for these stocks after obviously a period of time of fear. >> which is why, mike, i suppose and please, you opine on it, this is your story that people are attempting to look at these in the manner in which they are? >> yeah. i honestly think it's really just another way to slice up the thesis so i don't think it's anybody predicting, in fact, they will get broken up. it's another way of saying -- by the way i think yo

you can say paypal broke its trend line, but either way, that's not typically a good setup.n your mind's eye and look at the next one it's identical i'm not drawing the lines. the lines draw themselves. it's the same setup. they have nothing to do with one another. that's the point of charting in many ways, trying to suspend one's knowledge or purported knowledge and just go with the facts. vf corp., big apparel name, $37 billion brands that you know, like vans and timberland, north face are these well defined tops at a common level as it works in the apex, is it just now breaking out after two years in a range, it is. does this have anything-to-do with one of the biggest telecommunications in the world, verizon, it's identical. that's the point, why more and more money goes to algorithms to passive investing because it doesn't really matter sometimes what the darned thing does these two look as though they'll continue to break out, the other two look as though they'll continue to roll over. >> carter, thanks. carter braxton worth >> where can we see more of carter, mel? >>

this comes a week after paypal yelled out of their partnership. facebook ceo is set to testify before government officials on its currency in less than two weeks. >>> this years fleet week will include special recognition for two members of the army. who help the victims of the summer shooting. as san bruno mall. spoke to them about their experience. >> reporter: >> that is a hero. the other staff sergeant sitting next to isaiah was closest to the food court where the shooting actually took place. also jumped into action to help a victim. he said his army training kicked in to help to save the lives. and wants others to know what it means to serve. think. not what most people most people consider it you are a robot or you live in a tent. it is 500 far from the truth. it is a lifestyle. honestly it has been one of the best decisions i made. >>> both men will be honored for their heroic actions as fleet week wraps up. >>> crowds will be flocking to the city this weekend. traffic anchor has some tips for getting around for fleet week. >>> allies will

this after paypal became the first major company to drop out. mark zuckerberg is scheduled to appear before congress this month to talk about plans for libra. backers say it could open online buying to millions of people who don't have access to bank accounts. >>> now after a blockbuster first weekend, "joker" followed up with another strong showing at the box office. >> when you bring me out, can you introduce me as joker? >> reporter: the warner bros. movie about batman's archenemy brought in an estimated $55 million at north american theaters. that brings its domestic total to more than $192 million. the animated kid-friendly "the addams family" exceeded expectations, came in second taking in $30 million. and "gemini man" starring will smith opened in third place with $20 million. >>> and players of one of the world's most popular video games, "fortnite," are wondering what's going on with the game this morning. yesterday, gamers logged in to take part in the end of season ten with an event called "the end." they expected season 11 to be intr