softbank has a big name in the tech world.ty of the mark, we are seeing big pockets coming from softbank's vision fund. equally, waymo. the parent company, alphabet, has huge pockets as well as they have been splurging money too. mark: they are not short on cash. i think this is a significant show in the fact of the criticism of alphabet. waymo has not been able to get up to scale with enough vehicles. this is 62,000 vehicles they have committed to buying. they have not given a time frame. there are some saying they are skeptical that we will see 62,000 say, next year. this may be waymo hedging their bets a bit. i imagine they are talking to honda, they are selling to -- willing to sit down with more carmakers. what they want to see is a carmaker go in and design an entirely new vehicle to do fully self driving. that is where we will see a big commitment from waymo. caroline: david, this is what is so interesting. ande all these carmakers tech companies fit in the food chain of all of this. tell us about what gm is doing. they

softbank appraised -- approached gm.ore than $2 billion to help develop self driving cars. they don't need to take it out of their existing r&d product budget. $2 billion, that is two new vehicle programs for cars that need money. g.m. can spend their internal cash on programs that will return money now. it gives softbank's -- their endorsement on gm's technology and maybe some players in silicon valley, somebody like uber, maybe they will be more interested and tying up with somebody like an old traditional car company. then they would have before. softbank has a big name in the tech world. caroline: plenty of ponies in the mark, we are seeing big pockets coming from softbank's vision fund. equally, waymo. the parent company, alphabet, has huge pockets as well as they have been splurging money too. mark: they are not short on cash. i think this is a significant show in the fact of the criticism of alphabet. waymo has not been able to get up to scale with enough vehicles. this is 62,000 vehicles they have committed to bu

i'm on the softbank board so i get to speak to him through that.is interested in what arm is doing. it -- just today, they announced $2.25 billion going into cruise. that is a great example of how they are stringing it altogether. a lot of investment into that in the future of automotive. emily: how central is arm to that strategy seeing all these other bets he is making? simon: all of these technologies rely on more computing power. they rely on conductivity. our strategy is to provide engines into all of these different applications. emily: there was a report that last year was the first year that smart phone chip growth is stagnant. how will that impact your business? simon: our technology and design is aimed to do a lot of things. you mention 100 30 billion ships last year. our partnership, 21 billion. there's about 1.5 billion smartphone chips every year. we are in lots of things. emily: 95% of smartphones. simon: every smartphone is a great place to be. that is a market that will continue to grow. albeit slower than it has. the computer power

what was softbank's purpose? what kind of business were you in?ayoshi: so, that was the beginning of the time of the personal computer got started. so, but there was hardware, not enough software. so, i aggregate all kinds of software from the small software houses. and i wholesale to the pc stores. so, it is like a bank. software's bank. it is not the money bank. the software wholesaling, storing in my warehouse, so it is like a concept. david: so, it is very successful. softbank's stock was going up. and then you decide at some point to start investing. one of the investments you made is considered by many people to be the most successful investment in the history of mankind. you invested roughly $20 million in alibaba. at the time it went public, it was worth roughly $90 billion. and then so, $20 million to $90 billion is a return of 4500%. now, jack ma is a very distinguished individual now, now one of the most successful entrepreneurs in the world. what is it that made you feel this was worth putting in $20 million? masayoshi: well, he had no

what would swiss re have gotten out of this deal with softbank? have been really quiet about exactly what their motives are, but we can infer from the type of investor that they had hoped to get a lot more access to asian markets, which of course are very popular with the insurance industry, and probably also some help in improving their technology, which is a big issue in the insurance agency. >> would swiss re's board be willing to give up some control? to attract a large investor? >> the inference was that swiss re didn't want to create new shares, and softbank did want them to do that. that may be a whole reason why this deal fell apart. >> earlier this morning, general motors had a big announcement. it said that softbank's vision fund has invested $2.25 billion in gm's cruise automation. >> this is a big, major deal for general motors. they made some announcements late last year about some of the ambitions they had for cruise automation, their self-driving unit, and talked about getting a self-driving taxi service on the roads by 2019. so, wh

on yesterday that softbank vision fund will invest two point two five billion dollars in g.m. crews holding and that's the driverless car unit of the u.s. automaker general motors g.m. will contribute one point one billion dollars of its own capital g.m. stock rose thirteen percent on the news and also yesterday google self driving car spin off whammo agreed to buy sixty two thousand feet chrysler minivans for right hailing service that could be in business before the end of the year many allen analysts took the big investments from established players as a sign that the business of driverless cars may be moving from the realm of theory to commercial viability at the same time many technical challenge challenges remain and setbacks such as the recent death of a woman in arizona killed by an uber test car might hamper driverless technologies going forward. earlier this week the u.s. commerce secretary wilbur ross ruled out the permanent tariff exemptions the e.u. had demanded as a condition for full trade talks boss ross's boss president trump has repeatedly complained of a tra

japan's softbank has announced they will invest two point two $5 billion in general motors self drivingof the largest and most high—profile investments to date in self driving technology and iamjoined by date in self driving technology and i am joined by business reporter katie silva. tell us more about this. for $2.25 billion they get a 20% stake in kroos, the general motors autonomous vehicles unit and general motors will put in $1.1 billion and is part of the deal it's a investment so they are paying half upfront and when the vehicles are paying half upfront and when the vehicle is ready to commercialisation that is when they pay the rest and that is expected to be early 2019 that they have these vehicles ready. softbank has other investments in this mobility space, states in uber, and as well as grab in southeast asia but the question is whether they have overpaid. the deal valued it at $11.5 billion where some say it was only 4 billion of worth but as you can imagine general motors stocks soared and we re general motors stocks soared and were up 10% yesterday and one a nalyst were

bids that softbank is making through the nearly $100 billion fund. many of them in the area of automation and artificial intelligence. >> we are not looking to raise capital. we are in a position where we are prepared to fund this opportunity. what we did find it -- at softbank is a partner with a very line division -- lined vision. matt: juliette, thank you very much. some of the headlines you've got to keep your head wrapped around . america's closest allies will impose tit-for-tat penalties after view is confirmed it would leave he tariffs. wilbur ross announced duties on steel and aluminum from the european union, canada and mexico saying they were be opposed on national security grounds. the eu said it will retaliate immediately. mexico promises to slap tariffs on a range of american goods including cheese. more, callum kanaan joins us from paris where she has been covering the issue all week long at the oecd meetings. eu italianw will the against the euro tariffs -- the u.s. tariffs? matt.ne: we are, the eu has warned in march that 2.8 billion

in america to 7 $2 billion, that's 22 billion more than the 50 billion that softbank had previouslyledged the president made those comments at a ceremony for the new foxconn plant in wisconsin the softbank ceo did make remarks at the event but did not reference the $72 billion figure >>> let's check the other headlines with phillip mena in new york >>> good morning a maryland newsroom is the scene of another deadly shooting five people were killed when a suspected gunman, 38-year-old jarrod ramos, opened fire in the capitol gazette newsroom his bail hearing is scheduled for later this morning. >>> police are now releasingth names of those victims authorities are still investigating a motive. >>> nearly 600 people were arrested in washington, d.c., mostly women as they staged a sit-in at a senate office building in protest of president trump's immigration pollities a -- policies and family separations. >>> and tsa warns that today may be one of the busiest travel days ever as we head into the fourth of july holiday aaa is estimating nearly 47 million americans will be traveling. offi

on yesterday that softbank vision fund will invest two point two five billion dollars in g.m. crews holding and that's the driverless car unit of the u.s. automaker general motors g.m. will contribute one point one billion dollars of its own capital g.m. stock rose thirteen percent on the news and also yesterday google self driving car spin off whammo agreed to buy sixty two thousand feet chrysler minivans for right hailing service that could be in business before the end of the year many alan the analyst took the big investments from established players as a sign that the business of driverless cars may be moving from the realm of theory to commercial viability at the same time many technical challenge challenges remain and setbacks such as the recent death of a woman in arizona killed by an uber test car might hamper driverless technologies going forward. earlier this week the u.s. commerce secretary wilbur ross ruled out the permanent tariff exemptions the e.u. had demanded as a condition for full trade talks boss ross's boss president trump has repeatedly complained of a t

on yesterday that softbank vision fund will invest two point two five billion dollars in g.m. crews holding and that's the driverless car unit of the u.s. automaker general motors g.m. will contribute one point one billion dollars of its own capital g.m. stock rose thirteen percent on the news and also yesterday google self driving car spin off whammo agreed to buy sixty two thousand feet chrysler minivans for right hailing service that could be in business before the end of the year many alan the analyst took the big investments from established players as a sign that the business of driverless cars may be moving from the realm of theory to commercial viability at the same time many technical challenge challenges remain and setbacks such as the recent death of a woman in arizona killed by an uber test car might hamper driverless technologies going forward. earlier this week the u.s. commerce secretary wilbur ross ruled out the permanent tariff exemptions the e.u. had demanded as a condition for full trade talks boss ross's boss president trump has repeatedly complained of a t

emily: softbank is investing $100 million, giving startups very long lifelines and delaying exits forhese -- exits werfor vc's. how was that impacting your strategy? >> it has had no effect at all. our goal has always been to partner with entrepreneurs everywhere from inception to ipo and beyond and that is what we are continuing to do. emily: is it frosty out there? you have done this many times. >> my answer is that we went out to raise $20 million and it went to 25 million, 35 million. it was oversubscribed. we raised faster than we thought. healthy to are very be raising money, no question. emily: bringing it. over-and-back to ai, the ceo of social capital has this new experiment using machines to make investment decisions. do you think ai could put investors out of a job? >> ai has tremendous potential and a long way to go. today algorithms struggle to tell the difference between a blueberry muffin and a kitten. while we are making progress, there are a lot of jobs where human judgment is needed and i don't think they're going away soon. emily: could ai take bias out of the syste

softbank had invested back in august this would make wework the second biggest startup behind uber.get nearly the attention that would match that. >> it doesn't. it's clearer so many bets are bound on up in wework right? you have to believe in the continued urbanization of younger people and use of repurposing of office space and all of the rest of it. and the social aspect of would >> yeah. back in april, they disclosed they committed to pay $18 billion in rent for the building leases that said, their membership numbers have sky reported-220,000 at the beginning of march, versus 7,000 just four years ago. >> which is more amazing given that the percentage of businesses startups is going down in this country not up >> they're getting all of it, seems where they need to but you're right, they keep consuming capital. like netflix, when you look at their commitments they need to raise money to spend >>> when we come back, sakpeing of the future, gary cohn on self-driving when "squawk alley" comes back the line between work and life hasn't just blurred. it's gone. that's why you need so

masayoshi: well, i used it to start softbank. david: so did you move back?ayoshi: i dide project and made another $1.5 million. so, i made $3.2 million in 18 months.so, that is better than 0 per month. david: right. masayoshi: i told that to my friends, look, i got $ nd kept working only five minutes a day, as i promised you. david: but then after you graduated,ese ccessf inventions, yoved back to japan. why did you move back to japan? t that it is not a great place to move back to, but you are in the silicon valley area. why not stay there? masayoshi: i created a company and my employees asked me to stay, but i said no. i promised to my mother when i deciome study in the states. she was crying in the airport, afr i graduate from school, im. ack. i promise. she said no, you don't come back. this is forever. you know, farewell. no, i promise you, don't worry, i promise you. so, i kept my word. david: recently, you did the biggest investment you have ever made in a company called a.r.m. masayoshi: they have 99% market share for any smartphone that you have in

in january softbank agreed to spend about $9 million for 15% stake in uber. >>> and meghan markle is now known as the duchess of sussex was named at one of the 25 most influential women in brittain by "vogue" magazine. "vogue" says prince harry's wife is helping the country. others are ruth davidson, fashion designer stella mccarthy, harry potter author j.k. rowling and human rights lawyer amal clooney. >> good call. >>> still to come,ing? new on the road. digital license plates. they can make your life easier, but privacy advocates say beware. i wanted to be clear. i wanted it to last. so i kept on fighting. i found something that worked. and keeps on working. now? they see me. see me. see if cosentyx could make a difference for you- cosentyx is proven to help people with moderate to severe plaque psoriasis... ...find clear skin that can last. don't use if you're allergic to cosentyx. before starting cosentyx, you should be checked for tuberculosis. an increased risk of infections and lowered ability to fight them may occur. tell your doctor if you have an infection or symptoms. or

he also serves as the chief operating officer of softbank group -- softbank group corp., the japanese multinational conglomerate that owns a majority stake in sprint. founded mr. claure brightstar corporation as a small district reader of mobile devices -- a small distributor of mobile devices. 20 years later, brightstar has annual revenues in a sense of $10 billion. an immigrant from bolivia, mr. claure earned a bachelor of science in economics and finance from bentley university in massachusetts. asha keddy is vice president of technology systems architecture and client group and general manager of next-generation standards with intel. she is responsible for investigating and delivering the technologies that intel is pursuing in the 5g arena. ms. keddy has more than 17 years experience leading and managing wireless and mobile broadband technology and product areas. ms. keddy holds a degree in computer engineering from bombay university in india and an ms degree in computer science from clemson. gene kimmelman is the president and ceo of public knowledge. he previously served as dire

remember when they had that softbank investment into the cruise division. an analyst predicts this stock from $43 could stumble how? right after this i'm a small business, but i have... big dreams... and big plans. so how do i make the efforts of 8 employees... feel like 50? how can i share new plans virtually? how can i download an e-file? virtual tours? zip-file? really big files? in seconds, not minutes... just like that. like everything... the answer is simple. i'll do what i've always done... dream more, dream faster, and above all... now, i'll dream gig. now more businesses, in more places, can afford to dream gig. comcast, building america's largest gig-speed network. becareally want to be there, but you can't. at cognizant, we're helping today's leading media companies create more immersive ways to experience entertainment with new digital systems and technologies. get ready, because we're helping leading companies see it- and see it through-with digital. >>> president trump wrapping up a meeting with the top aide to north korea announcing the summi

in some ways we may partner with a softbank we may buy a business together we're not looking to get intousinesses that have great ceos that are selling 100% of their -- >> fin tech, financial technology applies to this stuff. the plumbing operations back office side of it which is reducing cost for big institutions there >> we're starting in those two areas you described because fin tech includes others as well really the plumbing bisss, data companies, enterprise risk companies. but also payments. the difference with payments is they are a lot more expensivexp. you look at the multiples of vi visa, mastercard, square they're justified because the long-term growth is 20%, 40% growth on earnings so we're willing to pay a little more if we go into payments and you have to look at it differently. those are the two areas we're going to focus >> and he's sticking with us for the next hour on "squawk box." >> more to come with mr. farley. >>> trade talks and the market's response former deputy trade representative robert holleyman is our guest dow up about 150 points now. we will have more on

alix: it doesn't hurt that softbank put $900 million into crude.t time to do something like this. jason: and arguably, the world's most important investors. >> that started the clock. theyank has the option, can convert their state into gm stocks and that starts this whole ball rolling of when you could see this become a standalone company. alix: thank you very much. if you are at the bloomberg terminal, you can check out tv , click on our charts and graphics. you can scroll through all decide to check it out. this is bloomberg. ♪ ♪ alix: we turn now to wall street beat. jason is so excited. a new report released over the weekend, cryptocurrency is not ready for mainstream, and could bring the internet to a halt. banking on branson. purchasing virgin money holdings for a $2.3 billion deal. finally, williams on the job. the first day for john williams as he enters his new role as the new york fed president. jason: joining us now is none other than had hammond, our bloomberg deals reporter. how are things? >> good. i was golfing yesterday. jason:

the biggest overhaul in softbank's management since 2014.rs its second day of trading in tokyo. shares close 77% above tuesday's price, valuing the at $6.5 billion. investors will be key to see if the founder can execute an ambitious overseas expansion plan. running jokeg journe fading.arbuck may be there are about to close 150 stores in the u.s. after forecast of sales will rise just 1% to globally, the worst growth in about nine years. business is booming overseas and the ceo says china is a bright spot. coming up next, we talk to the eu chamber of commerce china president about her trade tensions are playing out in europe. tensions are playing out in europe. ♪ 8:30 in singapore this morning, half an hour away from trading opening in the lion city. i am yvonne man in hong kong. ramy: and i am ramy: in new york . jessica: president trump has signaled skepticism that trade talks with china would work, but he says he is not backing down. beijing has promised to retaliate if the president follows through on a threat to target $253 billion of c

i don't know if you heard about softbank.nt to spend hundreds of millions of dollars on renewable energy. it is really exciting times. telephone you log requires only 50% of electricity to come from clean sources -- requires only 50% of electricity to come from clean sources by 2030. talk to me about this. bill: you put solar panels on the roof for the ground and this makes it stationary. sun,u face them toward the you get 30% more power. for only 10% more cost. we built the largest tracking solar insulation on the rooftop. to beoosted the output the price of electricity for that system. we can compete on economic terms. emily: this can compete on the economic scale? --l: going to investors gangbusters. price of fossil fuels when the sun is shining and wind is blowing. the next 20 years is about making it to do 24 hours a day with storage. emily: i want to ask you about idealab. id tech incubators before people did tech incubators. what is different now that everybody is doing that? bill: the world has changed so much in favo

tracee: softbank investing $2.5 billion in general motors, driverless car unit, waymo would buy as manyo increase the number of driverless cars it has on the road in the years ahead. big movements there. cheryl: big move there, this is interesting, wal-mart is launching a text to order service for deliveries right? >> it's a little different than you might think. i will explain. once again wal-mart stepping up e-commerce efforts starting a new same-day delivery service. jet service, $50 a month you can order items from wal-mart's website and other retailers like sachs, pottery barn, you will be able to text what you're looking for. the shopper will text you pictures of items that match and you the text back with your order. gerri: that's like a service, i love the idea. let's get to the story we have been talking about all morning, airline bathrooms getting smaller, it's not just the seats. tracee: can you even imagine smaller? just about everything, getting smaller on airplanes, gerri said, first seat, so why not the bathrooms too? american airlines will debut new 24-inch wide bathroom

when it's really moved higher, that was addressed today by ceo mary bauer and she says, look, the softbank/cruise deal was welcomed in terms of analysts. >> i think it was very nice recognition of the av work we're doing and the path that we're on, but i can't comment on what that will mean longer term for the stock. we're just going to keep working hard to deliver value and long-term value for our sha shareholders. >> she was asked today whether or not general motors plans to ultimately spin off cruise automation, which is what softbank took a stake in she said it's too early to predict. right now they're focused on going with the autonomous drive vehicles through cruise automation starting next year. >> we want to ask you about new and potentially concerning crash-tests for midsized suvs. >> yeah. and in particular, there are two popular models that were given a poor rating from the insurance institute for highway safety remember, when you look at their ratings, poor is the weakest of the ratings from the iihs. the jeep grand cherokee, ford explorer, both rated poor. in terms of overall

that stock seeing a massive bump in yesterday's trade on the news that softbank's vision fund is investingillion in the gm cruise division the autonomous vehicle venture jamie is joining us now. this was a massive move higher for a stock that doesn't react in this way. is this investment a vote of confidence in gm >> thanks for having me. good morning it's an important component to what all auto manufacturers and supplierers are tiers are tryin, create a nar tefrative around technology they shored up their core business from a margin long-term. this is an element where we think gm is a leader, certainly among oem peers if not among waymo and others this is a very important data point here from a valuation perspective on a business that was progressing faster than the market may have appreciated. >> we've been trying to understand the winners and losers after that imposition of tariffs. what does it mean for the auto players? >> i don't think it really impacts gm, ford or chrysler or the 25% imposition on imported vehicles broadly there's an imbalance globally period we think certainly more

softbank has a hundred billion dollars.t of money but it's a worthy bed and soft bank just closed on owning the biggest chunk of labor. they own about 15%. there's a lot of interest in this field. the whole industry is about $5 billion. now they say it will be about 285 billion by 2030. >> the question is who wins it. that's for the jury still out. it's was indisputable, at some point, whatever the year, driving will be far safer around the world because it will be human beings. >> do you buy that? better than human beings. >> we do have a lot of human accidents. >> i don't think there's even debate. a billion people die every year in car accidents. >> would you be comfortable in a vehicle -- >> one 100%. as soon as the technology is where it needs to be, it almost definitely goes close to zero. >> i would like some sort of control if he goes awry. >> like my mom always said, she trusted me, just not the other drivers. you take away texting and drowsy and drunk drivers. >> , jim driverless car be hacked. >> it can be but th

will have to handle having said that, don't forget about the big pockets of capital that can step n softbankd is making very large investments. other pockets of capital could step in if there's other disruption. >> it doesn't sound like you think that will throw cold water on deal making in silicon valley, for example. >> i don't quarter one was the best we've had. tech in q1 was up 30%. so you're really seeing it push through this a think a lot of it is because of ambient technology, autonomous, all these great investable themes that a lot of these great big companies and nontech companies want to be part of. >> are you getting the sense from tech executives that they, too, are trying to push through this valuation pain, price action pain in return for freedom on the chinese having forced jvs or stealing ip? >> yeah. we talked to executives, they're very much not looking at the short term price s and impacts short term or geographic trends as well you saw even walmart recently make a big move in india it was a huge market they had to be part of you're seeing executives think longer term and

tech company up from $33 million in 2010 joining us is ceo of compass which raised $400 millioom softbank'sn valuation last year came on the show years ago when you first starte it's always great to see a great success story. help us with this. we were talking about this off air app a number of real estate firms have actually gone bankrupt over the past year. what's going on? >> the industry is in a blockbuster versus netflix cross roads. strungo provide value for the agent. thagent is the only entity that pays them i know this first hand my mom's been an agent my entire life i've seen her moving from firm to firm. >> here's the real question. you've been a beneficiary of the capital coming in. how much of this -- it's sort of like we talk about with uber somehow silicon valley or softbank or whatever is effectively subsidizing the real estate brokerage market right now. >> so i think the world woke up to real estate being the largest segment of the global economy. $216 trillion of assets were four times the size of public company in the world we're the only company that is empowering agent

you saw gm dealing with softbank. they have a deal with honda.vals jump up all over and investing in this. what was interesting about this are set to cut this in half. they rolled it back, limiting the ratios. alix: when i first saw that, i thought are we overhyping this largest battery maker? it is a good thing, if you think about it. our third story has to do with amazon was blasted by labor groups over china factory conditions like echo and kindle made in not so great areas. this is an interesting headline. >> apple has a similar problem with a factory run by foxconn. foxconn is also running the factory with amazon. billionis getting $4 from wisconsin to build that factory in the u.s. to have these happening where we are talking about rolling back regulations about these hurdles companies have to jump through, this is important to pay attention to, as we think about investing in manufacturers. david: we have seen this before with clothing manufacturers where it gets ugly. >> exactly. alix: they were required to work more than 100 hours of mont

the softbank executive says we were seeking to raise funds at a $35 billion valuation price tag, placingabove airbnb and spex it said at some point the start of would become a $1 billion company. a $1artup would become billion company. this is bloomberg . ♪ a.m. thursday7:30 in hong kong, pretty cloudy in the city. the major market open, likely to the pretty upsetting one -- to be a pretty ung this hawkish rate tilt from the fed. ramy: markets closed in new york nearly 0.5%, the biggest fall since may 31. as you intimated, yvonne, as expected the fed raised basis r ates to 2.5%. , when that happens we usually see a little bit of weight on u.s. equities. yvonne: you are watching "daybreak: asia." let's get to the first word news with courtney collins. fed's dot plot projected the number of rate hikes toou overshoot faster than expected. the fomc raised rates for the second time this year, with chairman jay powell saying the main takeaway is that the company is doing well. he promised a news conference after every meeting starting in january. >> as chairman, i hope to foster a public conve

softbank may be looking to list is japanese mobile units. may be headed in as soon as july. list a raiset will in capital. than $19ay raise more billion. to data, this will mark the third biggest official" a first-time fund a costs -- across all investment strategy. those behind division fund and structural reform fund. the blackstone fund got a big pledge from saudi arabia. is down in china after john oliver criticized xi jinping on his show. he called that the chinese mapping political power and centering online dissent about him including banning references to winnie the pooh. chinese authorities appear to have blocked hbo.com but hbo programming licensed to tencent has not been affected. up next, china's ipo seen is red-hot with giants like shelby on the docket. the startup pipeline might be just as impressive. we'll hear from one of the largest investors next, this is bloomberg. ♪ ♪ >> silicon valley may no longer be the capital of early-stage financing. china has tripled the u.s. periods. the asian nation is also making the unicorns at

rishaad: let's check in with the business headlines, and shaking up the inner circle, softbank's masayoshi rajeev misra, and katsunori sago, the biggest chains since they brought in ni arora from google in 2014. trading fellincome 23%, while they were having sales increased for a second time in a row. jeffries had an underwriting business to reduce volatility. general electric has been kicked out of the dow jones industrial average. it has been part of the index for more than a century, ge stock dropping 27% this year so far also the worst performer, a distinction that it held last year, as well. the one time powerhouse is change willd the take place prior to opening next tuesday. haidi: breaking news wherever you are, bloomberg and twitter c on twitter, ticto design for social media. we have video coverage and all of the top coverage by us. this is bloomberg. ♪ rishaad: time now for the battle of the charts, david and haidi. and you can run the function featured at the bottom of your screen. david, you have got the honor. david: yes. so we have been talking about in version, and i think w

david: the focus is on we just had the announcement with softbank.ductions are a really substantial sign of that globally. which tech companies are set to win the biggest? >> i would folo your comments about what we are seeing in semiconductors. the silicon content per car is increasing dramatically. today, aboutehicle $400 in chip content per car. this will be doubling on average. the teslas of today have thousands. even in the grand scheme of things, 100 million cars a year is relatively small to 1.5 billion smart phones, but the content is the growth story. david: and a lot of those smart phones are already out there. gina martin adams, steven pelayo, thank you or being with us. coming up, the x heads of citibank are in australia. as you tune in today, listen to our colleagues tom keene and jonathan ferro. bloomberg surveillance can be boston, washington, d.c., and all across the country. this is bloomberg. ♪ >> this is bloomberg daybreak. coming up on bloomberg markets, gene munster. turn toe are going to wall street beats, were recovered three t

softbank may be looking to list it to japanese mobile unit.s that the application may be handed in as soon as july, and they would start trading by year and. the nikkei says that the listing shares of tech investment ambitions, and also telling bloomberg that the ipo might raise up to $19 billion or more. erox check of new ceo, has rest of the efforts by fujifilm to revive merger talks. they called the recent lawsuit by fujifilm a ploy, saying that the accounting problems of the company made the deal impossible. fujifilm deny the allegations and accused xerox of breaching the merger agreement by ending the deal without a legitimate reason. we are counting down to the markets in hong kong and mainland china. is this the day we get the bear market out? mean, we are 12 points above mean, we are 12 points above the level right now, when you look at the shanghai composite. we have a chart that tracks but, but have a look at the initial indicators right now, not good. the hang seng index is down a third of a percentage, and morgan stanley's index fo

softbank is investing a load of money in this as well.ght tesla was the leader of this game, but it felt like investors were re-rating gm when they realized how far along gm was with its vehicle program. and cruz was purchased two years ago as a 50 person firm, now attracting capital and hiring people by the hundreds and looking to add a ride hailing service next year. julia: i mean, this is pretty impressive. we showed you the share price there, clearly having a positive share price reaction as well. scarlet: getting that pop. 1.6%, now let's get a first word news update from mark crumpton. has: president trump responded on twitter to the jailing of his former campaign manager paul manafort. a judge in washington revoked manafort's house arrest, citing newly filed obstruction of justice charges. trump noted that manafort has represented ronald reagan, bob dole, and many other top political people and campaigns. he added "didn't know manafort was head of the mob." the president has also said he will not sign a moderate immigration bill cr

one of the leaders went to softbank.the situation, but you want to make sure you don't lose your senior people. peggy: right. i think they are in a race against time, although we have jamie by -- jamie dimon and warren buffett saying there is too much focus on the quarterly earnings, but it feels like deutsche bank is trying to get out in front of the next earnings release and saying we could be down on revenue again. --id: i have never said heard a ceo say there is too much focus on quarterly earnings. i understand the idea, but they need to be transparent. you need the benchmark. david: they are right on the merit, but it is not going to happen. alix: could you imagine if deutsche bank came out and said we will not report quarters anymore? i think it is interesting because of the overall risk. david: as we are talking about that, bank of america, beautifully done and they seem to be saying we will scale back on risk. -- e because of the i talked to people inside the bank who said what is going on here? peggy: they lost

toater stalled broadstar softbank. sprint has faced a lot of challenges in recent years. the company has lost $35 billion last 105 billion in the years. i was hired to turn around that trajectory. i co uld not be m i couldor not be more proud of wht our sprint team has accomplished in making sprint a stable company for the first time in many years. we were able to achieve this mainly by significant cost reductions. however, many challenges still remain. we struggle to attract new customers, and once we attract them, we struggle to keep them. customer perception of our network still trails our competitors, and to be blunt, we like to be able to challenge the others. it will require us to make massive new investment in a network even as we haven't paid for 4g. we would have to invest billions, and that would only work if it would cover to large areas. sprint already operates with $32 billion in debt and we have to struggle to break even and we have to invest billions just to offer 5g in limited areas. as a stand-alone entity, we would have to pay for this investment. given