that is an option for softbank lots of news coming out. i think the numbers on the whole overall seems to be a positive given that slight rebound. a lot of questions about the sustainability of this giving it's rested a lot on these gains from the sales of assets and also the recent tech rally as well >> an interesting comment there because i do think it does are provoke a debate as you mentioned cash discipline whether it's welcomed by investors. people not investing in softbank, they're investing in this company for very heavy growth rates >> yeah, absolutely. i think it's more sort of the signal that perhaps, you know, there's being to be a little bit more discipline in the way that softbank's going to go about investing in the vision fund of course, you've got to remember they're looking also to raise that second vision fund as well perhaps this idea of being slightly more responsible in the way they're going about investing may be something that will be perceived as positive as well, just given, again, some of the issues we saw around

would softbank give you? carol: i love softbank. i think it is a great play. it's interesting how they turned around the company with a couple of smart sales this quarter and it is interesting to note that softbank is going into the large u.s. tech names at this valuation level. what does that tell you? some of the biggest geniuses in tech cbr really at the beginning of a global shift and that there is a lot more runway for all the big tech names. i think that is why they are going into this new asset management business and focusing on the public tech names. i love softbank. i think it is a good play. clearere are getting a picture of what november would look like in terms of the presidential election, now getting joe biden's vice presidential pick with kamala harris. how do you trade that? carol: if you believe that biden is going to win, then i think that means if and when he wins -- it will not be until january or march. we will hopefully get a national virus strategy which we have not had. we will get th

i mentioned softbank earnings coming back later.he japanese yen holding around the weakest in more than two weeks. the bloomberg dollar index unchanged at the moment. this after it touched a one-week high. watch out for some data this morning. we are getting south korea's 10 day trade data. we are getting japan numbers, not to mention singapore's final gdp numbers. crude headed towards $42 a barrel after gaining the most in a week after saudi aramco said demand will continue to improve. haidi: shery, we continue to watch the china-u.s. tensions as donald trump in the last hour saying he's stephen: they were against his visit and high-level talks. u.s. officials, especially a trumpet administration cabinet official. just like alex azar. democracy astaiwan well as the fight against the coronavirus is an inspiration on the region and the world. he went on to say it is highly regrettable that china has .locked taiwan from dissipating i want to talk a little bit about the sanctions because this is obviously the other flashpoint because t

softbank expected to report one of its best quarters in a while.t what to expect. this is bloomberg. ♪ haslinda: softbank suffered record losses in may and a slump in the value of its vision fund you to covid-19, but that may revise when we get earnings in a few minutes. tracking the company is our asia technology reporter. what should investors expect? always, it's performance, the $100 billion mammoth fund that invested in companies like we work and uber. it has only been three months since softbank posted an $18 billion loss after slashing hasations, but a lot changed. for once, and massive tech rally past -- pushed up the valuations of the company that are publicly listed. huber was up in the last quarter, slack was up 16%, another of other -- a number of other companies benefited. the most interesting aspect, there are signs that tech ipos are back in vogue. relay and lemonade are two companies backed by softbank that had stellar returns recently. other companies are waiting in line. , companies in china and india, lots of good news one could

sources say softbank underreported its income for the fiscal year that ended march 2019.say the group made miscalculations in foreign exchange losses and booked expenses in the wrong period. softbank told nhk it submitted the corrected filingg after beig told of the problem by the tokyo tax authorities. >>> the japanese government wants bullet trains to have more space for passengers with physical disabilities. the transport minister has suggested the trains on the busiest line connecting tokyo and osaka should each accommodate up to 6 wheelchairs. the idea was mentioned while visiting a rail yard in tokyo, central japan railway on monday. the company's operator of the shinkansen line. the government is preparing a new regulation that would oblige areas for four wheelchairs per train. but the users asked them to increase the number to six for the 16-car trains. the trains are longer and have more seats than counterparts on either lies. the ministry will draw up the new barrier-free steps this summer. ♪ >>> the coronavirus pandemic has devastated the global economy, but st

softbank completed 4.3 trillion yen of assetlion changes. billionme segment, one yen, and we are going to continue to get headlines across from softbank, so we will continue to update you on what is going on there throughout the hour. we are also getting the intercontinental hotel numbers, and it looks like revenue missed the estimate. anna: yes, absolutely. let's get into some of those numbers. $539million, the estimate to make and it is tough these estimates for anyone. guess joins us now. keith, we are getting a first look at these numbers. muchus a sense about how visibility or lack of visibility you have as a global business at this point. keith: yes, the first half of this year has been the most challenging in the travel and tourism industry. when we saw travel restrictions come into play, we sought demand fall, and our revenue is down about if the 2% in the first half. we still had a profit and our cash flow positive in the second quarter because of our resilient business model. we have to reduce our costs, but it is a very, very chal

softbank is growing more liquid these days.some debt problems and their shares were dropping. masa is in the middle of selling off assets, more than he ever has in the past. he announced a program to sell $4.5 trillion yen -- ¥4.5 trillion. they are getting more capital and he portrayed this as a way to use that money effectively to invest in tech stocks. to be clear, softbank had some successes in the past. alibaba was its biggest hit in terms of investing in a company, than waiting until they went public. even in the public markets, they invested in the chip company nvidia and made a lot of money on that. this is an effort to continue in that direction. peter elstrom joining us from tokyo. live pictures out of taiwan, alex azar on day four of his taiwan trip, visiting a facemask factory. talking more about the investment when it comes to u.s. medical production. we have a lawmaker joining us on the implications, next. this is bloomberg. ♪ businesses are starting to bounce back. but what if you could do better than that? like

softbank back sensetime. listing plans have been hit by a u.s.threatens access to american technology. let's have a look at this company here, as well. ige. ins parent baidu fell extended trading after it revealed that is being investigated by the sec. they have been asked to provide financial and operating records going back to january 2018. it also wants documents about acquisitions and investments. the probe is the latest of tighter scrutiny of chinese tech companies. global airlines with the travel markets being devastated by the coronavirus. qantas trying to scrape together much needed cash by selling unused in-flight biscuits and teabags. of -- for $25 would be travelers can buy packs of typical freebies through the online store. checking in of the indian markets, pretty much under pressure for the rest of asia, but india it seems not the case. reversing yesterday's decline. higher by 0.4%. some ofaking a look at those movers today. the virus slams demand. 43 point 7 billion rupees. rising by 0.4%. in some ofg and i the players. telecoms ad

the softbank founder is expanding the company's activities and tech stocks.t week, he unveiled a new asset management arm. that is your business flash this morning. the dollar is extending declines. chances for a comprehensive stimulus deal before september diminish every day with neither side willing to make concessions. democrats and republicans turn their focus to their party conventions. on the first day of the dnc, speakers attacked the president. -- good morning to you. thinkghs of march, do you dollars selling is overdone and if so, why? >> definitely short, particularly a stretch position according to many indicators. you wouldn't try to catch a falling knife. is bearish on the dollar. a market that is trying to find excuses to find the dollar. we are not far at this stage. driven by thet assets, effectively the same trade. theill determine whether dollar selloff can keep going. anna: you see a number of reasons why may be the risk rally has gone too far, why the dollar selling has gone too far. the global economy is one of them of course. but you als

buy, costco, best in the u.s., 7-11, softbank in japan. we are starting to be a -- rand. a single channel, wherever customers want to get our product. in terms of the challenges, i would say for tech companies, there are challenges every day. wherever and whenever they come from. on thee hope to focus product. were always working on something new to bring to the customers. given your global distribution in operations, do you consider yourself a thoroughly chinese company? this might make a big difference on those u.s.-china tensions. so, a u.s. journalist gave interesting remarks saying, he was mentioning anchor as an international company like he could find in silicon valley. in terms of the whole culture , it isosphere and anker very internationalized. haslinda: anker's founder and ceo. now a quick look at the latest business flash headlines. -- 2000ys it will pilots in october as it sees little improvement in commercial aviation in the next six months. they will have more pilot senate needs after 1800 flight deck crew except voluntary retirement. there have been thousa

leigh-ann: softbank is considering selling some or all of chipmaker are arm, including the possibilityompany public. the ceo is not committing to anything just yet. the firm says the number of every year keeps growing and growing. earlier this month, bloomberg reported nvidia was in talks to acquire arm. explore theg to sale of the german chemicals unit, dac solvent. it has reached out to potential buyers to gauge interest. dhc makes a range of chemicals including those used in paint, agriculture, and medical industries. occidental has been forced to write down more than 40% of its market value in the form of a $6.6 billion impairment charge. it comes as a collapse in energy prices has taken its toll on the shale producer. that is your bloomberg business flash. yousef? much,: thank you very leigh-ann gerrans. over to the u.k., which is facing a mounting labor crisis. at the height of the lockdown, employment fell by 200 when he thousand, the most since 2009. 222the worst may -- by thousand, the worst since 2009. here with us to discuss more is dani burger. data may bebs masking how bad

qe baker, who went public today, softbank was a big part of that listing as well.hat to have we work need this additional liquidity injection, member they have a tumultuous year -- remember they have had in tumultuous year. romaine: is a doughnut and an eclair the same thing? >> i don't think so. caroline: it it is a pastry. taylor: romaine has negative points. caroline: his microphone died long ago to all of us. romaine: they cut it off. romaine:caroline: thank you for weighing in on the all important questions and a bit of ipo. that is all for what did you miss. taylor: bloomberg technology is up next. romaine: have a great evening. this is bloomberg. ♪ emily: welcome to "bloomberg technology." i am emily chang in san francisco. stocks pulling back from record highs with congress still it is still made over a relief package. we're standing by for a briefing at the white house. the president expected to take the podium about 15 minutes from now. we will take you there when it happens. jobless claims dropped below one million for the first time in

in addition to selling assets, son has been buying back softbank shares. sign of strong demand for personal computers for both students and workers during the pandemic. both dell and hp beat estimates. dell's quarterly revenue jumped 18%. meanwhile, hp said it shifted a c's in 18 million ip the third quarter. but is it for your bloomberg business flash. anna: thank you very much. european markets have been fluctuating all morning. 600..5% on the stoxx a lot of reaction coming through to chairman powell's statement yesterday. anticipation of a steeper curve. all banking stocks in europe are one.r apart from just we see strength coming through from the euro and the pound. and a lot of dollar weakness. tom: hugely important insight from anna edwards, the european bank stocks are up off their hugely discounted value. you wonder if financials pickup in the u.s., what that will do to the equity markets, right now cap six points on the spx, 34 91. showing vix, more agitation and volatility versus where we have been. the dollar is weaker than the euro, 118.89. dav

technology stocks people don't realize it's not just china softbank is up like 120% from the march lows softbank the company that six months ago looked like the world's worst investor with the wework debacle. i think what's happening is global back to amazon and this idea of stop looking at the valuation. people get caught in these very myopic boxes where they say the p/e ratio is too rich. the p/e ratio on amazon was a thousands. if you're smart enough to realize that's not an applicable way to think about valuation and try to find another way to understand what was really going on with the company, you got involved with it us amazon holders cho hawho hav in stock for a well, have never concerned ourselves. the thing that drives stocks are net work effects and brand and consumer growth and market share and amazon checks every box outside of price to book i think it's nice to see people start to recognize that even if it's years later >> pete, you do own jd >> yeah, i own jd. that was name we talked about for unusual option activity. this is a stock that's hit multiple times it's the ch

sony is number one according to the last data we saw, new -- nintendo number two, softbank number threeement among retail investors for nintendo and the prospects for the switch and "animal crossing." haidi: what about future drivers of growth? we are waiting to see what the new game stable looks like and potentially rumors about a new powerful switch console as well. peter: that is exactly right. i think the risk we have seen with robinhood as a platform is that retail investors can flood into a stock and then flood out very quickly. we saw that in the case with kodak in particular, drawing gains separate from the fundamentals of the company. in the case of nintendo, what investors and analysts are looking for is how consumers react during the pandemic to the products they put on the market. thatisk for nintendo is it's big competitors sony and microsoft will come out with their own game consoles that will still some spotlight from the switch and other successful products they have. been out assing" has while and game players want and different all the time, so they need to follow up w

. >>> plus, what do softbank, jeff bezos and eric schmidt have in common they're all backers of that vertical start-up i mentioned called plenty. the company announced a major deal don't go away, "the exchange" is back in two minutes. our retirement plan with voya gives us confidence... ...we can spend a bit now, knowing we're prepared for the future. surprise! we renovated the guest room, so you can live with us. i'm good at my condo. well planned, well invested, well protected. voya. be confident to and through retirement. lookentertainmentour experience: xfinity x1. it's the easiest way to watch live tv and all your favorite streaming apps. plus, x1 also includes peacock premium at no extra cost. this baby is the total package. it streams exclusive originals, the full peacock movie library, complete collections of iconic tv shows, and more. yup, the best really did get better. magnificent. xfinity x1 just got even better, with peacock premium included at no additional cost. no strings attached. >>> welcome back the countdown to the presidential election is on. we have just 83 days

. >>> softbank making a return to profit with its quarterly numbers. the company reporting a profit of $11.8 billion thanks to the emerge of its sale with sprint also helping to reverse dramatic losses suffered in the previous quarter. softbank is down, the rest of the market is up futures up 270 on that russia orwiine news "wldde exchange" is back on a very busy tuesday right after this and that's faster? faster, yea! but is it reliable? ah huh and secure! you should consider making a big deal about it! bigger? i said bigger! oh, big-bigger deal bigger than what i'm doing? it's not complicated. a 5g network needs a 5g device. now everyone including existing customers can get a free samsung galaxy note20 after trade-in. ♪ i keep working my way back to you, babe ♪ ♪ with a burning love inside ♪ yeah i'm working my way back to you, babe ♪ ♪ and the happiness that died ♪ i let it get away servicenow. the smarter way to workflow. did you know liberty mutual customizes your car insurance ta-da! so you only pay for what you need? given my unique lifestyle, t

. ♪ >> softbank is injecting more than a billion dollars in two we work to help it whether the coronavirus boost to the funds to just -- softbank is injecting more than a billion dollars into wework to help it weather the coronavirus. the money will boost their funds. largest ai company is considering a dual listing on the mainland and in hong kong as it closes on $1.5 million of financing. than am for more valuation of $8 billion since the listing plans have been hit by u.s. blacklisting. uber and lyft have not been able to persuade a judge -- the appeal could take years. andruling requires uber benefits.y costly the companies can still go to a higher court. >> announcing the results of its review of the hang seng family of indexes. alibaba, this is the old economy stocks. what does that mean for evaluation? the hang seng index -- the valuation has been with the global ph. they have had good valuation metrics. this is the benchmark. in particular, for alibaba. not allow midland traders to buy alibiab -- alibaba. this could be for the stuff to be included. alibiabad make available. all of

in the case of anderson horowitz and softbank, they said they would have these funds specifically forck and brown people. the problem with that is some black vc's say that this is a can to have any separate water fountain and they are trying to fundissues in their own that keeps them from being diverse in the first place. romaine: i really encourage our viewers to check out that story. that is nico grant. taylor: your favorite gaming company, nintendo among other $3 billion in market value in tokyo today. they are citing the popularity of retail investors on the sites like robin hood. the animal crossing game helped popular switchdy console. will temporarily shut a factory in michigan next month to install machinery for the redesigned f-150 pickup. bloomberg has learned the automaker is also building a new facility adjacent to its dearborn, michigan, truck plant. they think that it will increase output of the f-150 by 150,000 vehicles this fall. the coronavirus pandemic has cut into the vacation plans of millions of americans. unused vacation days are piling up as a result. some compa

softbank division fund is a minority stake in bloomberg has received reported it has been working with a potential sale. germany suspects payment platform wirecard extended loans of about $1 billion to partner companies before it collapsed in june. prosecutors surmised the loans may have been unsecured, and companies in dubai, singapore and the philippines. they filed for insolvency after admitting almost 2 billion euros it previously reported as cash probably did not exist. coming up in the next hour, we will talk to tony australia sees record covid-19 fatalities over the weekend. we will discuss what this means for the virus pandemic, and how australian authorities are trying to cope with the ongoing outbreak, not to mention the renewed lockdown. haidi: yeah, of course that victoria lockdown really weighing in as australian markets brace for a turbulent earnings season. this is how it is shaping up when it comes to futures. about 1% upside as we saw the s&p 500 matching its longest winning streak since about 2003. we see active futures up by about .1%. new zealand, we are being treat

softbank is at $3.9 billion on 25 tech giants. invested more than a billion dollars on amazon. his son is expanding the company's investment activities to publicly traded equities. the race to acquire tiktok is ramping up. oracle is said to be considering a bid for the video sharing app. its entry could challenge microsoft's bargaining position. joining us for the latest on these tech companies is bloomberg opinion tech columnist alex webb. thank you for joining us. oracle is after tiktok. anyone else? it is beingerstand reported by our colleagues that oracle has reached out to some other parties including sequoia, the bp firm on the west coast about making joint bids. it had also been reported that twitter was involved at one stage. it is a far bigger ask for twitter to get involved. for have a lot less capital a bid that estimators -- analysts estimate could be worth $50 billion which is about the same as twitters market cap. who makes sense to acquire tiktok? how much does tiktok have to transform compared to what it is now and

and softbank's pumping an extra thatbillion into wework, as the company weathers a declining membership coronavirus crisis. --re is one bright spot demand from enterprises who are looking for more office let's ability. -- flexibility. and that is your bloomberg business flash. francine? francine: thank you so much. bloomberg's matt miller spoke to the chief executive officer. equity markets have also crossed before asset prices have peaked again, so i would not suspect that this is very, i mean, unusual opportunities to buy existing assets for very low prices, not in our industry. matt: so you see basically inflation there because of all of it, let's say, green new deals or the fiscal help that is being given to that side of the business. is it becoming more competitive? markus: on the one hand, it is becoming more competitive. you see the big oil companies, and there is no surprise that they are renewable and the power sector, because it is a very attractive sector, given the market growth we expect in the decades to come. but yes, if you look at what is needed to be successful, you ne

softbank is buying stocks in publicly traded companies targeting investments of more than $10 billionrted net income after 14 billion lost for the previous quarter. the new asset management firm aims to follow in the tradition of masayoshi son's vision fund. airbnb's much anticipated ipo is ever closer with reports the home scherer fire paperwork -- hareer will foul paperwork later this month. airbnb has been hit hard by the pandemic and was recently valued at $18 billion, down from an earlier 31 million. the chinese online video platform is the latest company said to be considering a secondary listing in hong kong. it is reported to be an early stage talks with credit suisse about the group, though no timeline had been agreed. seconde owned by baidu they had reported recently that tencent is eyeing a stake in the company. tencent stock surging after hours after the company announced it is splitting its elevated shares in a five-one exchange to make the stock less expensive. there the world's largest automaker by market cap and each shareholder will get for additional shares of common

global rally in technology shares lifted the value of softbank's stakes and publicly traded firms liker. it also boosted valuations to the japanese investment in tech startups. hit 11.6 billion dollars. it is an early loss in a court battle that the gig industry cannot afford to lose. a judge has ordered uber and lyft to convert their drivers to employees with benefits. companies plan to appeal, reclassifying the drivers could force the companies to pay overtime and health care benefits. some of the biggest tech companies in the u.s. are lining up against president trump's ban on temporary foreign workers. among them, amazon, facebook, apple, and microsoft. president suspended a number of nonimmigrant visa programs. the tech industry has joined a lawsuit against the ban. that is your bloomberg business flash. that.e greatly appreciate risk-on-field today, dow futures up 2.81. and the vix really interests me, coming in 21.21 right now. almost down a full big figure. that really gets us back. i have to look at where we are back to in terms of march or the bliss of february as well. gold

it is the easiest deal to do others might look at it like softbank which i think will not happen, but you might see other investors involved here. micro soft or twitter, i think they have a lot of money to put to work in a very promising company. >> but kara, who do you think does the best job with it or does it matter there was an article talking about how the code is so important, right and alex stamos was on to talk about whether or not it will really matter if they are able to continue to momentum. who do you think is the best combination in that sense? >> you think of a company like disney, but i think the people in the u.s. that have been running it have been doing a great job. they're not going to get the chance to do that. they're not going to get the chance to go hub lick. if they would get the security stuff in place, being independent would be the best solution >> do you think that is an option there has been talk about venture capital. earlier backers getting together, do you think that is on the table >> it's difficult to process it from the security point of view. so tha

it is based in california and is backed by softbank. that is your bloomberg business flash.a: thanks very much, ritika gupta with the business flash. let's get to the data and have a look at where we are on european stocks come up by half a percent today, tom. leisure is really flying. tom: no question about it, huge moves in the market. dow futures up 150 points, 28,380 six. coming up, from southwest arkansas, bruce westerman on the republican national convention. this is bloomberg. good morning. ♪ businesses are starting to bounce back. but what if you could do better than that? like adapt. discover. deliver. in new ways. to new customers. what if you could come back stronger? faster. better. at comcast business, we want to help you not just bounce back. but bounce forward. that's why we're helping you stay ahead and adapt with a network you can count on, 24/7 support and flexible solutions that work wherever you are. call or go online today. passedblicans, however, president trump's tax bill that low or taxes for single moms, working families, and those in need. so when i

i wonder if it was walmart and softbank why does walmart and microsoft, why does there have to be anyd of joint deal it complicated matters even further. >> we don't know fully yet we have to find out why they find it necessary to invite in a partner here the discussions were very late in the game here we also reported that tic knock is likely to announce a buyer here in the coming days. if there was a rationale that they were going towards the oracle business, they have been in talks with current investors including dc firms as a rival bid, if walmart and microsoft teaming up together could skew the bid in they favor simply because the two companies, norm companies, two of the largest in the world, certainly if this is a bidding issue you have to imagine the two companies would have no problem bidding up oracle's bid we're expecting it to be about -- >> looks like we're losing alex a bit. alex, i don't know if we're getting you back, if you're still with us, but the thing that strikes me about this is i don't know if this really does make sense i think of walmart i think of voodoo, m

he also earnings from softbank and foxconn. that president mary daly will be speaking.s over to your neck of the woods. the u.k. releasing its unemployment numbers. earnings from cisco and tencent, and later in the week, the big event, u.k. gdp. for us it is politics, for you guys it seems to be the underlying economic data. is it worsening? will.t remember the furlough scheme is likely to come to an end soon. there is pressure on the chancellor to deliver more help and assistance for companies and individuals, whether or not he can do that or afford to do that remains to be seen. the sense as we get into the fall, things are likely to get a lot more tricky. to be honest, i think the market will be dominated by any talk of talks between republicans and democrats on some kind of a deal on stimulus. that is likely to be the driving force this week. alix: yes. also the vp pick. the longer it goes you have to ask yourself why and what does that mean about his leadership? that wraps it up for me and guy in new york and london. coming up, we have "balance of power" with david

more than 450 investments under the company's umbrella and that is more than the number in softbank's universe and includes names like tesla, snap and epic. thirdly, american businesses operating in china, like mcdonald's and starbucks, they rely on the wechat app for their operations so being cut off could jeopardize their business there. there are so many questions still outstanding but it's really hard to understate the importance the daily role of wechat for chinese internet users. it's called a superapp people use it for everything from messaging and booking a doctor's appointment and we don't have an equivalent here. tik tok is popular in the u.s. it's looking at a sale to microsoft so it could get around that ban there is no such option for wechat, carl >> we've tried to explain to investors just how important it is on the other side of the world. let's bring in global head of technology investment strategy at deutsche. welcome. good to see you. >> great to be here. >> do you have odds as to whether or not this order takes effect in 45 days? >> it's hard to bet what's going to

had talked and speculation that others like alphabet, the google parent, as well as twitter, even softbankthis. had considered it looks as if it will come down to, microsoft/walmart as well as oracle. and again, the price tag we've been talking about is anywhere between $20 billion and $50 billion is what analysts have been pegging. that's a wide margin. we heard wedbush analyst daniel ives see the deal will likely come down to between $35 billion and $45 billion. but we're hearing bytedance is seeking $30 billion. the numbers are all over the place because we've also heard from people saying earlier, twitter had floated an idea of about $10 billion for the price tag. so we'll have to see how this plays out, but people close to this impending deal say it could be worked out within days, if not within the next week. there's a warm up in this, as well. it's a head scratcher. what is walmart bring to the table? stephen: is it a head scratcher? it's interesting, because bytedance and tiktok has a lot of e-commerce features, as well as video clips. that e-commerce element has not been available

it is based in california and is backed by softbank's vision fun.pple has won an early court victory in a fight with epic games, the maker of fortnite. a judge set apple will have to immediately reinstate the videogame on its app store. the fight has to do with the tolls that apple charges app makers. the bank mistakenly transmitted payment to lenders of the cosmetic giant revlon after an employee did not manually select the cry -- the correct system options and software. some are looking at returning the payment. that is your bloomberg business flash. tom? anna? tom: thanks so much. this is jack ma. it is not just another big ipo, the bragging rights and all that. the symbolism here is extraordinary. on one third, i believe it is by alibaba, and nt will become public. it is not in new york. maybe they will comment on that at the convention. far more is a dual listing in hong kong and shanghai. anna edwards, i look at this announcement, and obviously the bragging rights have been large, with aramco being part of it. for those of us in america, the l

drag down by softbank. laying on japanese equities. on market wants clarity u.s.-china trade talks.e a look at what we are watching in terms of specific stocks. qantas reported its first laws in six years. it predicted it will not make money in the next financial year. smashing the airline industry. down by about 1%. take a look at -- hong kong. lower by 45% at this stage. dow jones reporting they are suspending all payments to creditors after the pandemic dented operations. a debt of $3.4 billion. aia down by 4%. terminatingu.s. is extradition and tax agreements with hong kong. the trump administration steps up pressure on china after the national security law. the move follows up on an executive order to end the preferential trade status. our senior editor joining us for more. with this expedition -- this extradition treaty, it seems like they are following the likes of australia and u.k. the u.s. has made it clear the more china treats hong kong like part of china, the u.s. will treat hong kong like part of china. this is a continuing move to equalize the united states treatment

take a look at softbank.y the way, he said asset sales about 95% complete we're talking about a lot of modernization. t-mobile, they obviously sold some contracts in alibaba. and they repurpled over 1 trillion yen we've focused on the vision fund which will be struggling to some extent and did have gains there, you see that as well in terms of net gains. and also the moldings, one asset they're going to potentially monetize will it be sold? is there really a buyer that will hit the price they have in mind that's unclear what mossa did say it was originally a listed company. and need to make the best performance and closely study the best option. whether they take it back to the markets and monetize it and sell a portion of but it is worth noting how strong softbank has been that was a quick comeback in some ways that has not been, jim, certainly not as big a focus as the decline in the vision funds, all of the trouble that fund had. >> i was just -- when it was going down, there were predictions, there are o

we are also joined with a softbank review. this is bloomberg. ♪ hike!d takes the lead at the indy 500! coming to the green flag, racing at daytona. they're off... in the kentucky derby. rory mcllroy is a two time champion at east lake. he scores! stanley cup champions! touchdown! only mahomes. the big events are back and xfinity is your home for the return of live sports. ♪ haidi: good morning. i'm haidi stroud-watts in sydney. shery: i'm shery ahn in new york. china hits back as u.s. sanctions on hong kong, targeting prominent senators marco rubio and ted cruz. beijing steers clear of hitting top white house figures. global virus cases approach 20 million with 750,000 deaths. president

. >> yes, an old name for you, david, softbank, he took this over, bought a lot of stock at 200, has,ficent turn, he has bought a series of companies and made this into maybe the gold standard for on premise and for work at home cybersecurity david, reports of a blowout quarter. we have ten price target boosts, we've got two other analysts who didn't boost but said this is the one to own this is a new pattern for this period of stocks that have run we saw it for nvidia, nvidia stock was down 8 after 19 price target boosts. we've got palo alto down almost 10 and i predict that palo alto if you buy it with all those price target boosts will work. i think they are doing a great job. i had him on last night, very confident. really doing well with stay at home, work at home, which, of course, is -- i don't know anybody who works at home, but it must be something oh, hey, carl, do you love it? my wife said -- lisa -- we were at mark and keek key's house on saturday, she said, jim what, the hell are you doing why do you go to that office i said because i'm lonely, i live out here, you live -

softbank bought arm in 2016 saying the company had the potential to grow rapidly as connecttive expands game maker in a deal that would value the chinese company at about $1.3 billion u.s. the two sides are discussing an offer in the range of $3.30 to $3.40 hong kong per share. slightly above monday's close. leyou's major share shold -- share shoulder is planning on selling his entire stake. the deal has been in the making or about a year now. exxon mobil and honeywell -- [indiscernible] -- the moves all happened before the open next monday. the changes were prompted by apple's 4-1 stock split that lowered the index's range in the tech center. and cutting the price of diamonds to revive sales after the coronavirus pandemic paralyzed the jewelry industry. the world's number one producer lowered the price's larger gems by 10% in sales this week. debeers and its russian rival sold just $130 million of rough diamonds in the second quarter compared to more than $2 billion worth in the same period last year. >> here's how markets are trading at the moment. we are seeing q.e. stocks gaining gr

interested although originally walmart was working with other smaller minority investors such as softbank they switched their position and will partner with microsoft. they do not have the cloud computing infrastructure that's so essential to this deal. the whole point, the whole reason the trump administration is forcing the sale is they feel that the parent company of ticket had too close of a relationship to the chinese government and our data, u.s., american data may not be safe. they want to force the sale to a u.s. company we don't know what share would be owned by walmart and microsoft. you see a bit of walmart's vision to get closer to amazon trying to get into broadly, speaking social networking and online e-commerce. >> waum shalmart shares are up d you see why the company thinks it's a viable strategy i wonder if their track repocord would suggest this would be a success. what does it mean for the future of tiktok if walmart becomes their owner? >> one of those three have been big successes. i would say tiktok would be a better bet and has more established dominance. ticket put

. >> that arm issue is a big one to me it was weird being with softbank to begin with, but arm sort ofis neutral player almost in the market because they supply technology and designs for so many, qualco qualcomm, apple. what would be the impact if nvidia were to have a hold of that as well >> that's a great point, jon obviously if nvidia really does pursue that purchase of arm, you would expect regulatory scrutiny and to your point there are a lot of companies that license arm technology and they would want assurances they're going to stop access to that tech if even if nvidia decides to pursue and buy them you expect jenson wong to have answers to them. i think investors today when reports after the bell are hoping for any kind of color and commentary they can get about these reports, guys. >> yeah. stock is certainly going in hot to the print as cramer liked to say this morning, josh thanks we'll see what happens this afternoon. >>> don't forget this afternoon as well, larry kudlow on the closing bell 3:00 p.m. eastern time on the hopes for a skinny stimulus deal potentially this we

in the last five to 10 years, there was a moment in time i think companies like softbank maybe were convincinghe bay area that all the cool kids stayed private forever. so you only got ipos that were down rounds almost. i think what is super exciting about spacs, we're effectively bringing to market, young companies, growth stage companies, giving everybody a chance, retail investors, not just effectively premier venture capitalists to participate in that growth. so i think a lot of this current crop of spac ipos are companies that go on to become hopefully 100 billion-dollar plus market cap companies you can buy them at two billion, five billion, in some cases knot much more than that. charles: right. i got to tell you. i think it is revolutionary. i like what you're doing. obvious investors like what you're doing. nikola, we'll lean on you time to time. maybe you figure out the best ones in the bunch because they're getting harder and harder to pick out. appreciate your expertise. >>> all right, folks, america's oldest department store filing for chapter 11 but there are plenty of retailers

susan: that's right, more players, wal-mart and softbank, another list, microsoft, twitter reportedlythis might be a nonstarter since softbank isn't american institution since they want american buy the other take over from tiktok but we heard from "the new york times" that things have gotten so messy because of president trump's executive, that was both surprise to both microsoft and tiktok and have sped up the bidding process and a lot of people have now been interesting after hearing that, that includes black stone reported by "the new york times" as well. they were looking -- yes, steve looking to get and low bid. sources telling reports that it's $20 billion in the range now. if you're just buying up the u.s., canada, new zealand and australia but we are expecting a deal pretty soon and kevin mayer who only joined from this year he or she now stepped out. he we wanted to make this announcement along with the sale next week but sped up the process because he wanted to spread up the news himself. stuart: they have $40 billion cash. they could take tiktok easily. the price gain for

haidi: let's take a look at softbank shares. cutting the stake in the company.t we are seeing. the downside trend when it comes down 2.7%. corp. let's get to karina mitchell. >> coronavirus infections have with above 25 million several regions reporting a surge of new cases. u.k. posted the most affection since early june. in california, cases rose the most in a week. russia recorded almost 5000 new action. more to -- more than 10% in moscow. the lucked out in australia's victoria has seen job losses rise. president trump is demanding tough action in portland, oregon after violent clashes between black lives matter protesters and his supporters. accused the post of portland mayor of having blood on his hands. he is expected to visit kenosha, wisconsin this week after the shooting of jacob blake but multiple reports have said the governor has told him to stay away. vietnam expects the trade deal to be signed by the end of the year. virtuale house had discussions and said they agreed mechanisms for certifying the origins of exported goods that will take effect sep

softbank is on track to meet targets. ratesility of dividend and share buybacks. back gains. plenty more to come, this is bloomberg. ♪ shery: overtraining when it comes to brent crude at the moment. we did see volatility after the huge explosion in lebanon after fresh signs demand can be keeping up in the u.s.. brent crude up by .3%. trading just over $44 a barrel. su keenan is here with the details. u.s. fuel supply indicating a second week of decline. >> we do. that is very important. we have seen oil hold steady after its longest rally since june. with stockpiles easing, that will be supportive. we did get private reports after the bell before the wednesday official government report and the private report, according to those close to the matter, almost 9 billion barrels. that will be the second week. so all eyes are now on the wednesday midmorning report in the u.s., and the third out of four weekly declines expected. that will be supportive of that math. whichn's main port, rocked beirut. that raises concerns about fresh instability. it is important as you lo

softbank is pumping $1.1 billion into wework, as the company weathers declining membership.ng renewed demand for companies looking for office flexibility. our link also so cheap, not even apple can resist. the latest tech company to join corporate insurance for $5.5 billion. the iphone makers sold bonds including a 40 year security. that is your bloomberg business flash. anna: thank you very much, laura wright in london. in hong kong where media tycoon jimmy ly says he was arrested on trumped up charges. in an interview with bloomberg tv, he is overwhelmed by popular support. he also said he thinks the national security law has already had an intimidating effect. >> i don't know what they are trying to do. it is passion of support. back.new it would drop us.le want to support they are buying up the stock. when i came out from the police station, i said do not by. -- do not buy. you lose money. they bought her newspaper at 1:00 in the morning -- they bought our newspaper. they wait for the publication of it. hong kong people support. support for the newspaper and .xpression o

softbank is said to be sending hotels in to help oyo japan. the chain has been hit hard.esence in june and is downsizing in tokyo. retrench amid to fallout in the tourism sector. asia's wealthiest man is on a shopping spree. he has spent the past few months raising more than $20 billion for sharing stakes in his e-commerce company. now he wants to buy indian online retailers to compete against amazon. india has become a retail hotspot with more than one billion consumers. ♪ at howtake a look japanese markets are trading at the moment, nikkei futures under pressure, down .3% after we saw pressure in the past two sessions. the japanese yen at the moment strengthening a little, breaking through that 106 level, actually in the low window five level against the u.s. dollar -- the low 105 level against the u.s. dollar. we have seen a rally in japanese stocks in recent weeks, tokyo stocks reaching a new peak for 2020 on tuesday. the topix is the world' is best performer among major markets this month. japanese bonds at the moment unchanged. we are looking ahead to eco-numbers th

softbank's vision fund is a majority stakeholder and bloomberg has previously reported it has been workingvid: ok. let's not talk about this high-level visit in taiwan. you have the u.s. health secretary alex azar praising taiwan as he met with the president. he is the highest u.s. official to visit the island in decades and has threatened to further stoke tensions between beijing and washington. let's get the latest from sam ellis. talk to us. basic significance of this visit? to overstateficult the significance of this visit. it is the highest level visit by a u.s. official since the u.s. cut ties to taiwan over 40 years ago. ,hroughout the visit so far they have been very keen to emphasize the fact that this visit is to highlight just how has combated covid. obviously the situation between the u.s. and china one -- and it is going to raise hassles. i believe that china is going to protest in some way against it. what has been discussed so far, and how has china reacted? seen a far we have relatively muted reaction from china. we have seen the obvious bluster from the state-run media, in

softbank's vision fund is a minority holder, and bloomberg has reported it has been working with advisers offer the nation's first inter-coronavirus crisis will be the first data to come out, showing accelerating recovery. retail sales may have stopped -- stopped shrinking. this morning we have cpi and ppi data. let's bring in the head of economics and strategy at mizuho bank. this works out well when you have a massive domestic market. is that what is working in china's favor? >> for china, what has really driven the activity has been two things. one is the resumption of industrial production. part of it exaggerated by low inventory going into the phase one deal before the lockdown came up. the ability to shift reduction to respond to the pandemic has also helped. also the activity to get back into the property market has also infected whereas the underlying demand has been somewhat less enthusiastic than the other components. china's recovery appears to be a little bit smoother than what we are seeing elsewhere, where there has been -- haidi: in the most recent comments, he said policy

shery: breaking news out of southbank as the company right now responding to a media report saying softbanks adding $1.1 billion to its we work commitment. they are saying its commitment to purchase wework notes are not additional, but the $1.1 billion commitment was based on an october 2019 agreement. let's turn to karina mitchell for the first word headlines. karina: new zealand prime minister jacinda ardern is delaying the upcoming general election, saying it is vital the vote be safe amid a resurgence in coronavirus infections. she is proposing a four week delay. the prime minister says it is important the election can be held in a well organized manner and the rise in cases makes that difficult. >> i have decided to move the election by four weeks to the 17th of october. at the end of last week i was advised that this date is achievable and presents no greater risk than had we retained the status quo. karina: meanwhile the u.k. is being warned to million jobs could be under threat if the government ends its virus support program to early. millions of workers will still rely on cash hel

softbank, the biggest ipo's. alibaba is jointly listed. also here in hong kong last year for the $13 billion ipo. the numbers are quite staggering. its cornerstone, alipay payment service, we had $10.5 billion in revenue in the first half. this coming out of the earnings report, most recently shedding some light on the financials of this company. they had a profit of 21.2 billion yuan, but if you look at alipay, and the staggering member is $17 trillion in transactions, 118 trillion yuan in the year through this past june. 700 11 million active monthly users in the same period, 12 months through june. the app had more than one billion overall users, more than 80 million merchants are using alipay, mostly in china. proceeds, according to the prospectus, is going to be used to expand cross-border payments. that is a significant issue. of course, right now, with the ongoing u.s.-china trade war. haidi: we know it is listed in new york. can we say they have avoided a u.s. listing because of these uncertainties associated with the u.s.-china te

. >> i'm not sure if they will express the acquisition of softbank, certainly something to listen forsonally think they are going to have a very hard time getting that approved by china other things i'm going to be looking for commentary around strength in gaming they are seeing currently and also on the data center side they will give us any more color around exactly how big the ai opportunity is and how fast it can grow >> why is n individualey outperforming other sect or peers and does it deserve that place? what's the sweet-spot for them >> i think the performance is -- has been related to data center and artificial intelligence, they are the leader in the space. it's a rapidly growing area. right now competition is minimal. they are benefiting from that growth i think what you're seeing this quarter is gaming which for a long time was a growth driver, quieter, stay at home, people upgrading gaming pieces. i think with nvidia kout out a new set of graphic cards, that should continue to grow. >> what about exposure to autos. how significant is that and will that continue to struggl

wework is getting much-needed relief thanks to loan from majority owner softbank group. hard by the pandemic, lost 12% of membership base. wework has been focused on cutting costs after initial offering was shelved last year. well scaling back service, american airlines reportedly planning cancel flights to more than 20 cities this fall. airlines are required to maintain minimum levels of service under a 25 billion-dollar federal aid package. america was awarded 5.8 of support but that's said to expire in october. taking a look at shares of american this morning. the stock is down more than 1%. the postal service is rolling out next generation of vehicles. here is a look at the finalists, 6 billion-dollar contract will go to 180,000 vehicles made in the u.s. the vans must be able to carry up to 1500 pounds and be billed to the united states. postal service will pick a design by the end of the year. there are your choices, thank you. maria: cheryl, thank you. mandating masks, joe biden is calling for a national face covering rule for at least 3 months, biden told reporter