shery: i'm shery ahn in new york. the brakes, the nine ride-hailing giant uber a license in the u.k. city for the second time in three years. london is transport regulators cited safety concerns in the suspension come including the ability for another rise users to pose as drivers. uber has 21 days to appeal. for the latest, let's welcome shira ovide. what was the problem this time around? >> london regulators said uber fixed some of the problem they identified from a few years ago when they had these licensing issues, but they are still concerned about rider safety issues. the london regulators singled out this problem where unauthorized drivers were able s, basically driver stand-in for other drivers and carry out more than 14,000 rise, including by people who were not properly licensed or had safety concerns. that was a big safety issue for the london regulator. amanda: one thing that is interesting about this is uber has continued to operate through this. i understand it will continue to operate now. the company i

shery: i'm shery ahn. sophie and i'm kamaruddin. welcome to "bloomberg markets: asia." paul: new optimism about the trade talks. president trump says negotiations are in the final throes and going well and will continue. wall street expanded record highs for -- highs, but bond investors are not so sure. a virtual reality platform picked up for oculus. we are live in san francisco. let's get to sophie fore-check on markets. sophie: aussie shares are unchanged after a three-day gain. kiwi shares building on gains after topping 11,000 on tuesday. nikkei and cost be futures -- kospi are lower. slide despite the enthusiasm we saw for alibaba shares, which closed about its issuance price. let's check on housing bonds, which are gaining ground after the rba governor -- the move tracking treasuries. aussie yields falling 35 basis points across the curve. the three years left below the rba cash rate. a bond rally expected to push the 10 year to 50 basis points with unconventional easing expected in the second half as the australian economy slows. the kiwi holding its three-day g

shery: i'm shery ahn in new york.stocks are at record with the tech sector helping to lead the way. our next guest says we are at the top of a tech bubble. let's cross to san francisco ifc stone.t, at great to have you with us. really, it'stack correlation with momentum starting to fade a little bit. this gtv chart showing on the bloomberg that there was a high correlation between the fangs and a momentum etf. that is fading as we continue to see bond alike sectors now gain more demand. how cautious are you about this sector in general? vincent: this is precisely one of the things that worries me. for the past three or four years, we saw a strong correlation between tack on long-term yields. that makes sense because if you think of a typical unicorn with a negative cash flows at the beginning, and hopefully high-growth in the next five to 10 years, it is a very high duration asset. saw theis dropping, we big unicorns rally. that broke last summer. my interpretation of this money -- this momentum is the market is start

shery: i am shery ahn.ulators ramping up the pressure on huawei with the fcc set to vote this month on a proposal to ban u.s. government subsidies being spent from the chinese supplier. the fcc is considering forcing u.s. companies to remove already installed equipment. chairman ajit pai told me why he is determined to push the proposal through. mr. pai: we have seen a great variety of evidence with respect to chinese vendors behaving in ways that are not consistent with the rule of law with free markets and the like. earlier this year, the department of justice announced an indictment against huawei in which case the indictment specifically states that huawei officials offered bonuses to individuals who successfully stole confidential information from certain businesses. more generally speaking, this part of the overall chinese government effort we fear to leverage their influence. shery: no wonder the fcc has a vote coming up to prohibit companies from receiving federal subsidies buying agreement from hua

shery: live from bloomberg world headquarters in new york, i'm shery on. live in toronto, i am amber kanwar. we are now joined by our bloomberg and bnn bloomberg audiences. shery: here are the top stories we are following from around the world. president trump wrapping a speech minutes ago, telling the economic club of new york that his policies have generated an economic boom. we get the wall street takeaway. helping to finance institute $3 acquisition and what will likely be the largest bond sale this year. the wall street squeeze, thanks across -- we will have the download. amber: it is amazing we are talking about the shrinking bonuses at a time when a check in on the major markets, we have a trifecta of all-time highs or the s&p, the dow, and the nasdaq, as investors breathed a sigh believe that there was not anything too harsh in terms of rhetoric when it comes to u.s. china trade. although for the federal reserve, that's a different story. we will dig into that. also taking a look at marijuana producer kronos. investors have been trying to figure ou

shery: good evening from new york. i'm shery ahn. welcome to daybreak asia. ♪ shery: top stories this hour -- hong kong braces for more unrest after a chaotic monday that saw one man shot and set on fire. carrie lam says violence is not the answer. boeing takes off thanks to a new timeline for the 737 max. the u.s. may give approval next month, but either regulators are more cautious. tencent music find the right beat with earnings topic the highest analyst estimates. let's take a look at how asian markets are set to trade today after a pretty terrible session yesterday. we did not get a great lead from the u.s. wall street seeing very thin volumes and expert tatian still high that we will see this trade deal but some uncertainty coming through in the mix as well as you look at yesterday's trading due to we are looking at trading starting in sydney, i staggered open pretty much flat at the open after a robust session on monday. new zealand trading at 1/10 of 1% ahead of the rbnz decision. economists split about whether we will see an

shery: i'm shery ahn in new york. u.s.rade with china has plunged in september following fresh tariffs. both countries are aiming to ease tensions with u.s. commerce secretary wilbur ross, saying the licenses to sell to huawei will be coming shortly. i sat down with fcc chairman ajit pai who warned that chinese tech firms pose a threat to u.s. national security. >> we seeing a great variety of evidence with particular to chinese vendors to hitting in ways that are not consistent with the rule of law with free markets and the like. earlier this year, the department of justice announced an indictment against huawei which states officials offered whoses to individuals successively stole confidential information from certain businesses. more generally speaking, this is part of the chinese government effort we fear to leverage their influence over global commerce. last month, we saw controversies involving the nba, taiwanese flag emoji's, and e-sports. if the chinese government is willing to take steps on those areas, when it c

shery: i'm shery ahn in new york.from grace, softbank haas accounting practices are drawn scrutiny. investors want to know what is behind the rising star evaluations. here to explain is serving ride from san francisco. fiasco, it isrk not surprising the strategy is under fire. tell us how he is valuing these companies. >> there are two main times that sought bank will value a startup company -- softbank will value a start up company. one is when it makes its initial startup, and that is when you see the initial had lines. softbank investing at a $30 billion valuation. to other time it has evaluate a company is every quarter, when it is trying to deliver its quarterly financial results. those are the results that draw a little bit less scrutiny but perhaps have the bigger impact on the company. amanda: let's talk about -- obviously, softbank has heard from some of its investors. is the concern not that it had a big blowup, which it did. that happens in venture. is the concern that it goes into a more systemic practice,

shery: i'm shery ahn in new york.tocks. >> reaction to news that softbank, z holdings and a neighborhood messaging service have agreed to a merger to be completed in 2020. shares are climbing as much as 3.2%. yahoo! japan adding as much as 5% this monday. we also see moves in internet related stocks. joe deaux falling 4.2%. xoxo falling 4.2%. paul: thanks, sophie. markets are also awaiting more trade clarity after constructive talks over the weekend. let's bring in j.p. morgan private banks head of market strategy for asia. strategy, butour in many respects, you think the best approach is to tune out the noise and stay the course. >> there's a certain amount of that. our view is that the u.s.-china trade tensions are part of a larger structural issue. the risk has come down on further escalation. we think tensions will probably persist. china, weerms of heard this plan from the pboc, it's going to increase adjustments to ward off some pressures. what are you expecting to see? course,ng the potentially. they have maint

this is bloomberg. ♪ shery: this is daybreak asia. i am shery ahn in new york.nods in sydney. the ongoing hong kong protests have forced cafe -- cathay pacific to issue a second morning. it is continuing to struggle with the slumping number of travelers. have resultsnd will be lower than the first, using language that is more pessimistic than last month. shery: the unrest in hong kong has also hit canada group. shares fell the most since august. they share the protests are hurting business. redemptionres had global revenue rising within 28% to 228 million u.s. dollars. haidi: japan's leading messaging platform is in talks with the former yahoo! japan about forming their operations. line is controlled by neighbor corp.. climbed 21% this year in tokyo. ze holdings are gaining --z holdings gaining 40% in that time. we are seeing line, unchanged at the moment. seeing an upside of 15% as we get this news softbank is considering a plan to consolidate the yahoo! japan internet business. shery: take a look at the markets trading at the moment. we are seeing nikkei under

shery: i'm shery ahn.elcome to "daybreak asia." ♪ our top stories this hour, hong kong heads to the end of a chaotic week. mustdent xi warns violence stop while the u.s. senate readies a vote on the city's status. trade talks set to stumble on farm purchases as beijing pushes back on washington demands for enforcement. new details on the alibaba hong kong ipo, offering shares at $188 hong kong apiece. in on: let's check australian markets. we are seeing a slight gain for the asx 200, gaining 2/10 of 1% according to what i am seeing, pricing on the terminal right now, aussie shares set for second weekly advance, so a mixed picture. however, when the rest of asian central, stocks under pressure, kiwi stocks nudging higher, flipping up the board to check in on the kiwi dollar holding steady, not moving much as we hear from the rbnz governor this morning and he said despite a pickup in the economy, they are looking at pmi data hinting at that with growth returning in october, making for the highest reading thi

shery: from new york, i'm shery ahn, welcome to day break asia. hour, a stories this onday launder scandal claims one. big corporate deals help lift schwab kicks off jeweler reement to buy tiffany. stock has been rising in the green market ahead of the open. paul: let's get a check on how we're doing on the markets at the moment. we've had new zealand trading for a little while now. looking higher by about, there you go, about a third of 1% giving up some of the earlier gains. we saw a very good trading major in the u.s., all ndexes higher, small caps as well. 1%.australia, up .1 of bear in mind with australia, we here. staggered open still performing well after up 2.5%.'s gains westpac.ting for brian, the day, c.e.o. buckling to what analysts saw as the inevitable and down in the wake of these money laundering llegations from one of the country's regulators, 23 million separate breaches. his sword and n bringing forward his retirement 2019-2020 st half of as well. trading t of chicago flat, similar story despite i ns that we have seen as mentione

shery: i'm shery ahn. john: i am in for amanda la ng.: here are the top stories from around the world. on the hunt for a ceo and is looking at john legere as a candidate. formally approaching walgreens about taking the company private in what could be the biggest ever leveraged buyout. tesla unveils its first vehicle built in china, a milestone for elon musk's company breaking into the world's largest auto market. john: a softer start to the trading week after a strong run. s&p coming off i've weeks of gains, the strongest stretch since february. the unrest in hong kong and angering trade uncertainty weighing on the broader indexes. s&p and nasdaq in the red. the dow jones industrial average making a modest push into the green. part is the walgreen story and another factor is the development over the course of the day from boeing and comments from the company that 737 max deliveries could resume starting in december. that news adding a little fuel to the price of boeing's shares today, up 4%. certainly that is sooner than some of its cus

this is bloomberg. ♪ ♪ shery: this is bloomberg markets. i am shery ahn in new york.ian pots companies are down nearly 60% for the sector from recent highs in march. bloomberg's christine joins us live from the second annual cannabis cowen conference and she is standing by with a special guest. christine: thanks. i am here with cowen ceo jeff sullivan. >> good to be here. christine: at a time when the markets are not exactly looking pretty these days, i want to start by asking -- >> well for cannabis stocks. >> yes. cowen was one of the first to build out for cannabis. tell me a bit about why you are such a pioneer. >> a lot of it started with the research team that we have here and the great partnership that the research team developed with our banking team and distribution team. we felt there was an opportunity to articulate a business case for the entire industry and i think in the united states, i think we get conflated between the regulatory firemen tear and the cannabis globally. -- revelatory environment and the -- regulatory environment and the cannabis global

shery: i'm shery ahn in new york. savings bank of china is set to ipo on the mainland on thursday and i what is expected to be the nation's biggest listing since 2015. it may not be plain sailing with investors losing interest in mainland stock. a challenging time to be going public in china. >> absolutely a challenging time. just for the context, this would be the largest ipo in theory in 20.a since 15 globally, it would be the fourth-largest after the likes of uber, alibaba, and budweiser as well. enthusiasmlack of from investors. the trade talks have -- in terms of the turnover you have seen in mainland markets, it has fallen more than 70% since the ides of march. in terms of accounts, those have dropped off as well. in terms of the ipo's, if you look at the 36 ipo's since the end of october, seven of those have fallen below their ipo price. it is a difficult environment in which to list. there is this lack of enthusiasm. we are going to have to watch to see how it does. given the lack of enthusiasm, why would inve

shery: thank you. the prospects of this aramco ipo now with ayham lead forrasia group's the middle east and north africa. he is on the line from london with us. great to have you with us. jim was just telling us how difficult a market is when it comes to oil and for institutional investors. so, will there be enough at least local demand to sustain this offering? ayham: i think with this offering and this valuation i think you are looking at a success rate. it will be retail investors within the markets, sovereign aramco ore to the would want to support this offering. some asian demand as well. it is western demand we are talking about that is going to be lukewarm. part of it is geopolitics, and part of it is the aramco ipo plan. remember that this plan has been changing for a while, starting with an international ipo, now local. 5% of the company, now it is 1.5%. so, i think this is just a trial for the crown prince of saudi arabia to say to the international community that i am moving forward with wha

shery: i am shery ahn in new york.tches marred disney's video service and disney is blaming it all on strong demand. disney plus arrives in australia, new zealand, and puerto rico next week. su keenan has more on this story. can you call the u.s. launch a success when you have had technical glitches? they say it was because it was so popular. su: disney is framing it as a raging success. they were very much excited. disney fans waiting as they rolled it out, big night, across all different cities. what they got when they logged on, as you see right there, an error message that says unable to access it. the critics were quick to roll in, saying disney plus is almost here and disney plus turned into disney minus the thousands of followers, but check out the five-day chart. wall street has pretty much applauded the efforts. the five-day disney chart of the stock, it really has taken off in days, even in this most recent session, up 2%. the bigger picture, there is a ton of quality in here. warsl, pixar, star franchises. i

shery: i am shery ahn. this is "daybreak asia."frican swine fever spreading across the world with no signs of slowing down. it started in china, beijing really seeing the impact of this disease. , sarah.oining us analytic and data to identify some of these trends as well as the inefficiencies in the agricultural sector as well. disease being one of them. i am wondering how does that how the level of preparedness that governments -- agricultural food shortfalls? >> swine fever is probably the most unprecedented type of outbreak that the global energy industry has seen in the past 50 plus years, and one of the things that makes it unique is that china is the world's largest consumer for the world's largest importer of soybeans. when you think of food demand, china is the anchor of that. for the ramifications it has for the global food market, these could last for another three to five years. one of the things that has made, you know, it very clear to the world's preparedness, meaning when you see an outbreak, how fast can you react?

shery: i'm shery ahn in new york.er a moment in the sun, pot stocks have come back down to earth. shares of major growers getting question day with acreage holdings falling to record lows. we recently sat down with the chairman and ceo kevin murphy at an annual cannabis conference. he suggested the money to spend their way to grow. i have great respect for vivian, and i think everyone will need to spend their way to growth in this business, for sure. from our vantage point, we believe having access to capital , and we believe that will be afforded to us, because of our relationship with canopy. it will differentiate us amongst some of our peers. in thehink the lull industry today is simply due to the fact that investors are now getting a better understanding as to the cash burn in a number of these companies, and the fact that they will not be afforded the opportunity to access the capital markets as they had historically, unfortunately, you'll see a number of players fall by the wayside. we believe we will be one of

shery: good evening from new york. i'm shery ahn. sophie: i'm sophie in hong kong.reak asia. ♪ this: the top stories wednesday. talking tough on trade. china wants tariffs lifted before any deal can be agreed. transpacific trade has slumped in recent weeks. nonetheless, optimism about a

shery: so many questions unanswered.n trying to help us with where the negotiations are going. >> thank you very much for that. breaking news coming out of the hong kong government. it is to do with their reaction to the house passing this bill that backs the protesters in hong kong. saying isovernment is it is against it. it strongly opposes the passage of that bill, saying it will not help ease social unrest in the territory. does send thebill wrong signal to violent protesters. bloomberg new economy forum taking place in beijing after this. >> a quick check of the latest business flash headlines. softbank is said to be in talks to receive as much as $2.8 billion in financing. companies ready to provide loans as part of the regular financing. is nikkei news said softbank paving the way for its $3 billion offer to we work shareholders. the prime minister scott morrison said should deeply reflect the ceos future after he declined to resign with the bank accused of the biggest breach of roles in history. reached money lau

shery: i am shery ahn in new york. sophie: and i am sophie kamaruddin in hong kong. we are counting down to asia's major market open. >> here the top stories we are covering in the next hour. deal or no deal? an agreement is near. president trump wants a siding to take place in the united states. the world top oil company presses go on its long-awaited ipo. saudi aramco brushes off concerns. the fed says the u.s. is in a good place and the data justifies keeping rates on hold. we hear exclusively from the vice chairman. marketsck check of the close on the friday session in the u.s.. we saw fresh records for u.s. stocks with the s&p 500 dating 1%. energy and materials led to gains. oil jumping the most in six weeks on a more positive, solid jobs report, not to mention optimism on demand as we saw chinese manufacturing data more positive. we also had positive trade sentiment with that china commerce ministry saying the u.s. and china had achieved a consensus in principle. the nasdaq gained more than 1%, the dow gaining three hunter points. -- 300 points. >> we have asi

shery: good evening from bloomberg headquarters in new york. i'm shery ahn. sophie: i'm sophie kamaruddin in hong kong. welcome to "daybreak asia." shery: our top stories this thursday -- deal delayed. bloomberg is told a trade accord may slip to december. low.slumps to a new we will be asking if the company can find a way back. sophie: and economists say we may be entering a period of peak dovishness. posse shares opening flat after following the most on wednesday. we are keeping an eye on a weak earnings report as well as oil companies with brent extending declines and opec not pushing for deeper supply cuts. the chairman spoke of caution in the short term with capex below 8 million u.s. dollars for 2020 and 2021. checking on the aussie dollar, treading water near a one-week low while aussie bonds are gaining ground on a possible delay to a u.s.-china trade pact being signed. futures pointing lower after japanese shares ended wednesday flat amid signs of overheating. breaking news crossing the bloomberg on google, google said to be mulling changes to politi

shery: you mentioned the gdp numbers.e do get a trade deal happen this year, how much of that can you reverse? sonia: very difficult to say. actually quite little. more about stabilization in business investment and potential pickup. even if moderate just because of some of the uncertainty is removed. amanda: in terms of what the fed is signaling, your point, holding steady, we did not notice anything on the balance sheet. there have been some interesting messages around what is happening with qe. what do we expect to be happening on the buying side from the federal reserve in the months ahead? sonia: i think they are trying to ensure that people don't think of this as qe. to them, qe means investing in securities that are longer in duration. that is one of the reasons why they think they will. another reason is they try to match treasuries issuance to some extent as well. all of this situation in the repo market is to some extent also attribute double to higher tragedy issuance. because primary dealers have to take down

shery: later in the hour, we flashpoints.ical this is bloomberg. ♪ shery: i'm shery ahn from the newconomy forum in beijing. haidi: we get back to market action in the u.s. fresh concerns about trade deals adding to risk of sets. president trump said to be signing a bill supporting hong kong protesters into law. even though we are pretty close to all-time highs at the moment, there's a lot for investors to be concerned about right now. absolutely. it's actually the worst month we have seen so far with stocks close to record highs. the pullback was relatively minor, but the real story was bonds. let's go to the market snapshot if you can. the market for the most part has been trading off the trade news. moving towards an interim deal, this was a reality check. said thestrategists biggest move for bonds, down six of the last 10 sessions. go into the bloomberg if we can because the panics index has been on the rise. note this blue is the s&p 500. this is the panic index rising while the vix has been lowered. weree some of the moves extreme. lowe's hitting a record high, reversing weakne

let's get to bloomberg's shery ahn. shery: thank you so much.g by with the federal communications commission chairman ajit pai. thank you for joining us in the new york studio. let me get started with your concerns about chinese equipment. you had an op-ed published last week that said lending this equipment in america's 5g networks would open the door to censorship, surveillance, espionage, and other harms. what sort of evidence have you seen that lead you to this conclusion? ajit: we've seen a great variety of evidence with respect to particular chinese vendors behaving in ways not consistent with the rule of law, with free markets and the like. earlier this year, the department of justice announced an indictment against huawei. the indictment specifically states that huawei officials offered bonuses to individuals who successfully stole confidential information from certain businesses. more generally, this is part of the over chinese government to effort we fear to leverage geo little commerce, involving everything from the nba to taiwanese f

shery: what do you think led to that change? mike: the marketplace saw softer consumer demand in both electronics and automotive. it was global. it was also in the china market. that changed. it slowed down. the inventory and everything else had to adjust. we had to adjust. have is thehings we strength of reacting quickly. we can react within a cycle. it was difficult to react in half of a quarter, but by the time we got in the second quarter, we realigned ourselves to the changes in the market place and we have been delivering strong execution operation performance even in a slower growth market. shery: you do a lot of cost-cutting as well? mike: we did. everything from operations to the investments we were planning on larger growth around the world. we just pulled back on those. we did that fairly quickly. shery: you have gone through with massive acquisitions. the medical tech company as well. some have pushed back on those cost synergies. what do you say to them? mike: we continue to invest for the future. we are not going t

this is bloomberg. ♪ shery: this is daybreak asia. i'm shery ahn in new york.ick check of latest business flash headlines. saudi aramco's ipo fully covered by investors. reached the equivalent of $7 billion. only lukewarm interest from foreign investors. abu dhabi indicated $1.5 billion. shery: farming industry fell after delivering a more cautious outlook than expected for the conditionsas trade -- demand for machinery has taken a backseat as they worry about who will buy their product. paul: india's flag carrier will have to shut down after the latest attempt to find a buyer failed. ready to solicit bids. it later became state owned. it has not made any money since 2007. china is stepping down announced it will no longer serve domestic users this month. declaringrenzy after support for blockchain technology. this seems to be a clear differentiation for cryptocurrencies and the technology blocking them. >> exactly. the campaign you mentioned began a few weeks ago, this month for sure. since the original campaign and happened isnk what that jie zheng paying's c

shery: i am shery ahn in new york.kings fell short of estimates. in sanring in tom giles francisco. uber did expect to turn a profit in 2021. what was the big issue that investors did not like? tom: there's a couple things that worked. investors were looking at a couple of those metrics. one of them is gross bookings. and second of all, mostly active users, so both of those numbers came in below expectations, so there's a bit of disappointment there. you have to wonder whether there was also -- there is also some concern about the fact that this lock up x. , these restrictions that were put on certain early shareholders and their ability to sell the stock is going to be lifted in a couple days and that vast number of uber shares to the market and that is possibly weighing on the stock. you figure investors were looking for -- there have been blowout numbers today. maybe the concern about the lockup would be abated a little bit, but the numbers again, there was a little bit of disappointment. this way to profitability i

shery: when would this happen? it has been 18 months.t it to happen when even the hearing by the states hasn't happened yet mr. pai: i cannot forecast when litigation -- how the litigation will turn out. that depends on the state lawsuit in new york. from our perspective, we want to make sure the public is able to benefit from these commitments we have gotten from the parties that will deliver faster, better internet access services when it comes to wireless well into the future. taylor: that was fcc chairman ajit pai. so interesting, you spoke with him about other news, particularly twitter's decision to pull political ads and taking a firm stance against facebook. what was his take? shery: i asked him that because ajit pai has been vocal about free speech, about transparency among these big tech companies. i asked him what did you think about these bans on political ads by twitter and facebook not doing it? he said we don't regulate content companies so he does not want to talk about that. he says it is important to have transparency,

shery: thank you so much. coming up, a $6.5 billion problem.triking aceo defined tone, despite we work and uber on the bottom line? that's next. this is bloomberg. ♪ amanda: "bloomberg markets this is "bloomberg markets -- this is "bloomberg markets." , unapologetichi after enormous losses into wework and uber. it's their first lost in 14 years. look ofake a evaluations that the vision fund invested in and how they have been falling, it's not surprising that you have seen those affected. >> it's true. we work was not the only problem here. masayoshi son made the point that listen, they are up since we first invested many years ago. important to recognize that they had public market that's that are also in trouble, according to reporting from "the wall street journal," just a couple of weeks ago. amanda: one of his defenses was that we make big bets and when we do that, some of them fail. is there logic to that? losses outsized, but big wins? >> if you are not ready to brooke some zeros, you are not really playing the game. but what softbank had

shery: i'm shery ahn. sophie and i'm kamaruddin. welcome to "bloomberg markets: asia."imism about the trade talks. president trump says negotiations are in the final throes and going well and will continue. wall street expanded record highs for -- highs,

shery: especially when you have the u.s.in with some blocking of tech companies, not only huawei, but also these ai companies. what is the sentiment like? do people want to touch these companies when they know the risk is there, that the u.s. may block them from the world? gary: you're talking about -- the companies on the entities list, and huawei and some are quite large. if you look at the startups affected, you're talking tenths of a percent. i do not think on entrepreneurs or vc's are particularly concerned about that when we are making the initial investment. haidi: how important, then, is the ability to scale internationally? even if it is just a domestic play, is it enticing enough? gary: if you look alibaba, 90 plus percent of its revenue is in china, and it is a half trillion dollar company. tencent is a $400 billion company, so clearly you can build companies at significant scale in china. i do not think it is a question of whether you can build the companies. i think it is going to be you will start to see compan

shery ahn: deer disappoints. machinery maker falling as much as five points, dropping the most in six weeks on third quarter or an earnings. amanda: the ceo spooked the markets they cautious outlook for next year. for more insight we are joined ellino who isr c with us from princeton. let's talk about the outlook. is this just the case of a new ceo being overly conservative and setting a low bar or does it reflect the fundamentals? >> it's a combination of both. recorder wasn't that bad. it's the outlook weighing on deer. they have a new ceo in that seat less than a month. it could be the case of him setting a low bar and taking a cautious approach to next year. .here is a lot of uncertainty you have had challenging growing and harvest conditions. there is a lot of conservatism built into the forecast. shery ahn: one of the things that was interesting was loan losses on equipment finance. anything that could suggest weakness for others? certainly one of the disappointments during the quarter. they seem to be taki

shery: good evening from new york. i'm shery ahn.reak asia. ♪ shery: top stories this hour -- hong kong braces for more unrest after a chaotic monday that saw one man shot and set on fire. carrie lam says violence is not the answer. boeing takes off thanks to a new

i am with shery ahn in new york and paul allen in sydney. take a look at the top stories of the day. paul: german chancellor angela merkel once a new european agency to handle 5g matters. an apparent move to address chinese equipment. nations that a each e.u. to set its own china policy with regards to 5g would be one of the biggest dangers, devastating for china and europe. on monday, the u.s. will announce its response to france's digital tax. targetsulation companies like facebook, google and apple. trump and emmanuel macron tried to negotiate atrios. 85affects companies with million in global revenue and digital cells with 28 million in france. xiaomi has seen a slight profit rise in the last quarter. they posted a 1% gain after expansion overseas into services. they saw hardware sales in india and europe. those are the top global tech stories we are watching. trump it is no secret the administration is looking the crackdown on how china interferes with u.s. tech. whether does ip theft, forced technology transfers, or mergers and acquisi

shery. taylor: paul, think -- shery: paul, thank you. no secret the trump administration is looking the crackdown on how china interferes with u.s. tech. whether it is ip theft forced , technology transfers, or even mergers and acquisitions. one of the biggest weapons in the u.s. arsenal that can be deployed against china is the committee on foreign investment in the united states. in the new report to congress it , highlights how that group is being used. it is being used more often. in 2017 and 2018, the group investigated 73% of the foreign purchases respectively. contrast that to 46% in 2016. joining us from washington to discuss these findings is nate bolin, where he specializes in international security and international trade law. these numbers coming even before we saw pharma passing and expanding the authority of cfius. how will things change? nate: that is a great point. this is the tip of the iceberg in terms of the scope of the reviews that cfius has enacted and implemented since 2017. we have seen an uptick in investigations

shery: all about that data and analytics. jeff: it is. shery: thank you so much for that.s jeff greenfield joining us of c3 metrics. plenty more ahead. this is bloomberg. ♪ kurt: back to our coverage of goldman sachs making headlines over the weekend. bloomberg was first to report the wall street bank is being investigated for alleged discrimination over its apple card algorithm. social media postings in recent days by a tech entrepreneur and apple cofounder steve wozniak complaining about the unequal treatment of their wives ignited a firestorm that has engulfed the two giants of silicon valley and wall street. steve joins us now from san jose, california. thanks for being here. can you walk me through what happened over the weekend? steve: i am very thankful what david was on saying. i did not really go out and try to promote anything. i don't do that, promote issues. i saw a post, a tweet by david about he and his wife having different limits. my wife and i encountered the -- encountered that months ago and found out through phone calls on the number that is on your app

shery: at least five months.this point, increasing the likelihood that the hard-liners in beijing may --t to take a stronger shery: what sort of response that would be is the key question. many say you could still respond strongly with existing hong kong police on the ground. we saw the increasing violence in the last few days, including people being shot, including -- caroline: set on fire? shery: set on fire, that is really huge. it was a pro-beijing supporter being set on fire by pro-democracy protesters. hong kong police asking for help in finding the people who actually set that man on fire. thinkne: so you don't beijing is going to step in even though there is now a real danger are those who seem to be pro-beijing? analysts say that will not happen because hong n international financial city and all eyes are on hong kong. one of the demands from protesters, that there would be an independent inquiry into the violence coming from the police. when i talk about international condemnation on these actions of --

for more, let's welcome bloomberg's shery ahn.hat are you going to be watching next in terms of this? after the intensifying protests, we heard carrie lam coming out. it didn't sound like there was anything new. is there any move that somebody could play that could disperse the tensions? shery: she seemed pretty defiant, especially when it comes to that violence leading to any resolution. take a listen. any wishfulis still thinking that by escalating violence, the hong kong government will yield to pressure to satisfy the so-called political demands. give us is not going to any solutions to the problems that hong kong is facing. shery: of course, the protesters want to choose their leaders. sherry -- carrie lam saying that violence will not help that. saying it has to be loyalty to beijing in order for hong kong's chief executive to be in that position of power. we have seen these protests over the weekend leading to about 90 arrests. we have seen one person shot point blank by police. he was shot in the abdomen. we have seen a ma

spencer: i'm sorry, you mean between amazon and -- shery: pinduoduo.er: i don't know about restructuring over a single day or anything like that, that would be further down the line i think if there were further, you know deepening of the relationship. taylor: thank you to bloomberg's spencer soper. global stories to come, that is next, this is bloomberg. ♪ taylor: the company known for its zoomable platform launched a video version of it. it's a video recording software that lets users add graphics in real time and having their face on the screen next to the visual content during the presentation. joining us to discuss how it could change video conferences in this week's work shifting segment, it is prezi core founder and c.e.o., talk to me more about this video and how you help to increase internal communications with it for corporations. peter: thanks for having me on the show, taylor. we just launch thissed product and we designed it for people to have something to say and made it possible for people to literally hold their ideas in their hands. no

shery: i love manuka honey. if you love australian news, the melbourne cup this week.rugby? shery: yes. [laughter] joe: i like the segment where romaine just gives segment requests. onry: why don't you join us " daybreak: asia?" romaine: a spoon, that is all i need. caroline: romaine taking commodities focus to a whole new level. for more on her stories, don't miss daybreak australia and daybreak asia. the u.k. parliament tomorrow will dissolve by days end ahead of next month's election. joe: i will be looking at ism nonmanufacturing out tomorrow. has releasedton its first quarter report. investors focusing on growth. "bloomberg technology" is next in the u.s. joe: this is bloomberg. ♪ ♪ taylor: i'm taylor riggs in san francisco, and for emily chang, and this is "bloomberg technology." bloomberg disappoints. third quarter -- uber discipline. third quarter estimates missed. we break down the numbers. over an's ceo out inappropriate relationship.

for more that's bring in shery ahn.all of these companies that are telling employees to stay at home, the economy was already looking very terrible. the last gdp reading was worse than any economist expected. this only seems like it is going to exasperate it. shery: the biggest slump in about a decade. we get the final reading this morning, more confirmation hong kong is in a technical recession. we are seeing this demand for cash jumping. we are talking about the hong kong dollar as this chart on the bloomberg shows. it has been spiking. when it comes to the three month, we are talking about the highest levels since september 1999. this coming at a time when the hong kong dollar is also weakening and trading toward the weaker end of the trading band. there isl suggests this aversion to hong kong assets. romaine: i want to talk about practical issues. when we started to see these protests, there was still business as usual. we are starting to see cancellations, there was a pride parade that was nixed, a music festival,

shery: it was a huge celebration in hong kong, as you can see.we spoke to saying that we will probably not see huge repercussions on the capital market as of yet when it comes to alibaba's ipo listing. we have seen the stock surge 8%. which meansr 9988, long-term prosperity in china. scarlet: for more on these stories, don't miss daybreak australia and daybreak asia starting at 6:00 p.m. eastern time. tomorrow, eu lawmakers will vote to confirm the new eu commission. joe: gdp for the third quarter out tomorrow morning. romaine: earnings season coming to a close. lululemon set to report tomorrow. "bloomberg technology" is next in the u.s. this is bloomberg. ♪ taylor: i am taylor riggs in san francisco, in for emily chang, and this is "bloomberg technology." strong debut. shares of alibaba begin trading in hong kong, ending the trading day more than 6% above the list price. bookkeeping with scrutiny. and we hear from viagogo

shery: what beijing can do next. question is what can they do if the violence keeps escalating? we have heard from xi jinping commenting during his trip in brazil, saying they will continue to firmly support the chief executive carrie lam. how long could they continue supporting carrie lam, whose popularity has plunged to the lowest among all chief executives in the past? they are also talking about punishing violent criminals. i would pay attention to the fact that they keep calling for what they call for these rioters to be punished. this coming on the back of the rumors that there could be a curfew this weekend. the hong kong government has said that those rumors are unfounded. david: do they have the police force necessary to handle the difficulties? shery: that has been a key issue because we have seen these protests which are different from those five years ago. sporadic, all across hong kong, in a wide range of locations, mostly focused around university campuses as well. beijing hinting through their state ru

shery: good evening from bloomberg headquarters in new york. i'm shery ahn. sophie kamaruddin in hong kong. welcome to "daybreak asia." shery: our top stories this thursday -- deal delayed. bloomberg is told a trade accord may slip to december.

let's bring in shery ahn. go, announced it was not going to include in its index. >> that was a marble producer and they lost 80% in one day. a furniture company losing 91% because my short seller questioning their accounting. the latest is china first capital losing 78%. many questions around what triggers this huge moves. bursts in education which china first capital owns part of, they fell 78%, pared back some of the declines. by the director there saying it was probably because china first capital owns a stake and they were selling it, as they had to -- they had a margin call on the stock. the majoru think of global financial centers, new york, london, hong kong, i feel this is a reminder that it is easy to overestimate how mature the maturity of certain stock markets is. >> yes when you thicken these moves, you think perhaps this is mainland china. >> that would make sense, it would fit into the narrative. >> because it is a similar story. remember last year, we were talking about these pledged stocks and

i see that sheri sees that. tremendously excited we believe the marketplace will see that this is an incredible opportunity today to get involved with a super high quality company. >> people who know and follow me on action alerts know that i couldn't agree more. i don't understand the valuation. after listening to you, i still don't understand it except for deciding that the people who are selling are wrong. that's bob bakish, the president and ceo of viacom. i hope you now understand why i said it was the most undervalued stock that i follow. and with 499 out of 500, i can't believe it, because it's wrong "mad money" is back after the break. (vo) the moth without hope, struggles in the spider's web. with every attempt to free itself, it only becomes more entangled. unaware that an exhilarating escape is just within reach. defy the laws of human nature. at the season of audi sales event. doprevagen is the number oneild mempharmacist-recommendeding? memory support brand. you can find it in the vitamin aisle in s

joining us, bloomberg's shery then west from washington.t break down how significant and how unexpected the results of this week's election were when the pro-democracy party seemed to win a landslide. given the unrest continuing to grow company expectations that we could see something similar, that the pro-democracy camp could come up with good numbers but no one imagined a landslide victory. we are talking about the pro-democracy camp getting 80 5% of the 400 seats up for grabs. 85% of the 400 seats up for grabs. this is telling you how the probation camp did the which won about 13% of seats. the key here was voter turnout. about double the people who voted in 2018 voted this time around. 2.94 million people casting ballots. the government coming out, chief executive carrie lam saying they will respect the results of this election. scarlet: ok, so they will not dispute any of it. what does this mean in terms of hong kong's relationship of china? we are talking about the council, it is not as if they are determining bigger issues like polic

shery: i'm shery ahn.eak asia." ♪ our top stories this hour, hong kong heads to the end of a chaotic week. mustdent xi warns violence stop while the u.s. senate readies a vote on the city's status. trade talks set to