we are also watching softbank.aid to be selling a large part of its stake in uber to cover those losses in their investment in didi global. haidi: what a disaster that story continues to be. we will be watching softbank for sure. let's get more in san francisco. what do we know about this stake sale and what are they trying to be here? >> good to be with you. softbank sold about one third of their stake in uber. pretty significant position that they are selling off. uber has not performed very well recently. year-to-date, it is actually down. it is barely out from where it first went public a little over two years ago, and it is not even that much higher from where softbank first invested in 2017 so softbank is clearly taking a look at this investment and saying maybe this has not been a good thing to be so invested in. also recently, softbank lost a lot of money on didi, the ridehailing business in china, which recently went public and is facing scrutiny from chinese regulators. our understanding is that this coul

softbank is the biggest stakeholder in didi. softbank was down more than 5% yesterday. bouncing back little bit. uber is the second biggest investor in didi. some have been speculating this regulatory crackdown from the cyberspace authority in china, essentially ripping the app off the -- taking the app down from different app stores in china is a test case for regulatory -- regulatories. at the same time, these are companies listed in the united states that have foreign investors. it's a tricky one. shery: what are we hearing in the timing? lot of companies are listed in the u.s. >> it's a little bit different from ant. ant was going to be listed in hong kong and shanghai. the ipo was pulled before it hit. the timing is very interesting that this regulatory action will be coming after their ipo's. we're hearing from the dow jones reporting, regulators went to day debefore the liking urging or asking them to halt or suspend the ipo to conduct the extensive internal review of their security apparatus and security steps. we're hearing from that story is that didi interpre

a source tells me that softbank is down to less than 100 million uber shares. but to put this in broader context, carl, with the pressure on softbank, we may start to be seeing the contagion effect of this chinese sell-off that we have been reporting on over the last weeks and months and that is forcing other investors and other geographical areas like japan and the u.s. to sell out of winning positions to compensate their losses in china. >> that was a great scoop last night, d and goldman, though they did reiterate overweight on a shares in china, they did take their offshore equity. we're watching robinhood still, one of the largest investors sits on the board, general partner scott sandell is next. indication around $38. that would be a flat open. don't go anywhere. (sound of people returning to the workplace) (sound of a busy office) (phones ringing, people talking, meeting) the company we've trusted to keep us working remotely, is the same company we'll trust to bring us back together. safely. securely. and responsibly. so now, between all apart and all t

how do you think softbank will cope?ment like alibaba, softbank could tone down its exposure in china. given that alibaba accounts for a majority of its and ev. it is unavoidable they will have to diversify. we are seeing that happening already in the strategy of the second vision fund. at the same time, we believe there is a chance for softbank to shift investment cycle from getting in the late stage of the financing round, which would depend on exits through ipo. they can ship it earlier. and then they can read investment gains. that would help boost profit for efficiency. rishaad: tell me here as well, what about the differences between vision fund and -- i can't speak today. vision fund one and vision fund two. >> there may be three. the second one, softbank is the only investor. that is the key difference. they did struggle to raise external money. that was after the we work. given the fact they had a good track record so far, had been pretty good. because they are the only investor, they save a lot on paying out 7%

according to cnbc, softbank is selling part of its business estate to cover those losses. of course, we have seen just it is asterisk few weeks they have had since the highly anticipated u.s. rpo with the regulatory crackdown. we are hearing that softbank is selling a pretty sizable chunk of the uber steak to cover those losses. according to that report, that is about a third of its total state. we will continue to watch for that particularly as we see this. this is quite a bit of uncertainty. let's look at how we are setting up for the rest of the session. >> we will be watching how softbank shares react in tokyo. we have the nikkei two to five on shaky ground after the index snapped a two-day gain. we have some strong results from aims like nissan. we have the likes of stantec reporting and pulling of the board, we are seeing early transactions somewhat muted. look at the offshore y-- yuan. amid questions about whether pricing is done for chinese markets, they don't believe that to be the case. we will also be digesting the fed commentary. that momentum is waned. morgan

softbank has become a conglomerate in investing.ng in the public markets with derivatives through the sb north star unit. we don't know anything about that yet we don't know what it's holding or selling until we get the 13-fs to tell us what's happening, so this masa son has grown -- but it's been some of the greatest invests of all time over the last few decades. he probably would say it's part of his 300-year vision. >> no doubt, and we already heard reports that authorities may be softening some language around that. >> and adding liquidity? they're really trying to calm the markets. >> it's a pattern. it seems like they put out the hard line, see the effects, and think the message has been sent. >>> still to come, kate moore from blackrock joins us. >>> plus we'll break amazon's earnings at the top of the hour, just about 40 minutes tiunl those numbers cross. we'll be right back. dow is up 170. is almost at the e today we're going to fine tune the dynamic braking system whoo, what a ride! i invested in invesco qqq a fund that in

cnbc then reported that it was sold by japan's softbank to offset a loss on its stake in didi.t it together, there is certainly that relationship. it is not like you have enough ridesharing companies for a big global basket, but there is a relationship between them as represented by what appears to be that softbank sale. tom: thank you so much. what david brings up, and i have talked about this, the western banks are all involved in these discussions. jonathan: absolutely. on dave's point, isaac it is really important you don't sell what you want in these moments. you sell what you can. i've landed on from mohamed el-erian over the years, and he reflect on his time when he would go to investors and asked them about something happening in mexico, and they would say yeah, we are selling chile, and he would turn around and say, why are you doing that? they would say, we've already taken the hit on something like mexico. chile is still doing ok. that is the problem people have, the contagion risk and bunnies trying to get ahead of the contagion risk. this can snowball pretty quick

it is backed by softbank and berkshire hathaway.di: we do have some breaking news when it comes to the chinese retailer. the preliminary first-half net loss being reported is between 2.5 billion yuan to 3.2 billion yuan and this of course after we heard from sydney saying that their major shareholders sold a stake with 10% of its holdings frozen. the third largest shareholder is divesting some of its stake in the company and we have seen that being frozen by shanghai court as well. lots of woes for this company. the chinese estate fund that included alibaba is set to invest in that retail arm of the company. we are hearing the pulmonary first-half net loss coming in at $2.5 billion to $3.2 billion -- 2.5 billion yuan to 3.2 billion yuan. others see the start of another price war. that is next. t. total gym includes everything you need to get into the best shape of your life. for every body at any age. it works every muscle group, including your core, using your own body weight as resistance. customers love total gym because it's fun

softbank owns 1/5 of didi and fell more than 5%.cent is currently down close to 4% in hong kong. entire chinese tech sectors as well. investors are saying that the probe adds to regulatory uncertainty surrounding it. the entire sector, and some analysts point to the fact that it discourages other chinese companies from seeking listings in the u.s. going forward. anna: you have to wonder if that is the point of this. there are others being probed. and they are also listed in the united states. >> that's right, so earlier today, they announced new probes into trucking companies for truck alliance and recruitments of the -- they raised about $2.5 billion together and one thing they have in common is they are backed by tencent. it is unclear if that has anything to do with the troubles but you know, it is basically along the same lines, data, security, data gathering practices. anna: thanks very much. our guests from bloomberg news in hong kong. a lot to talk about when it comes to this didi story, the specifics and the other companies

it is also act buy stuff -- softbank and tencent. also a service that also listed in the u.s.ne 12. there is a parallel. these companies listing in the u.s., data protection, national security. to answer your question, what is next, we have to keep an eye on the space, definitely. rishaad: stephen engle there. thank you. we've got to get more context and analysis on this crackdown on the china internet giants. haslinda: how will the crackdown on tech effect the appetite for ipos from chinese companies? our senior research analyst for diversified financials joins us. how do you see this latest clampdown on didi affecting new listings? >> they are basically started with ant last year, and we've seen a lot of these large chinese unicorns choose to list in hong kong and the u.s., and a huge part of that is they currently only list in china. these companies have decided to list in hong kong and the u.s., and maybe now the regulators do want to crackdown in general, because of national security. i think the real risk would be the ipo pipeline for both hong kong and the u.s. in the s

. >> this was a sizable round led by softbank.ing up some of the details, 400 and $50 million in the round. it gave this dubai based startup a deal -- valuation of more than $1 billion. this is one of the big themes of the global pandemic. specific startup kitchens that serve many different restaurants, specifically mobile orders. different restaurants share a space and you can only use them for food delivery. it is something you think would die after the pandemic. they are going to use this money to expand into saudi arabia. later, into asia. a fantastic concept. you wonder about the longevity. some of these concepts born out of the covid pandemic, will they last? softbank is betting that this one will last. kitopi finds itself a $1 billion company. emily: thank you for bringing us that story. after a pandemic level, the ipa market seems to be red-hot with almost 350 350 billion dollars raised in initial public offerings. with us is a partner at benchmark capital. confluent just went public last week. thank you for joining us. we

softbank coming to the market with junk bond debt.een hit with a record $70 million fine after wall street said it harmed noise of customers. the financial industry regulatory authority criticized the trading app for system outages and providing misleading information. this coming at a crucial time as the cubby -- company prepares to go public. let's have a look at markets. we have very light volumes and china. this is marking the following of the commonest party. let's look at the asian-pacific overall. we are down by .3%. .4% lower and currently, there is that debate continuing about the vaccine, the vaccine and virus flareups and how people are coping with them. we are looking at the payrolls out of the u.s.. this is bloomberg. ♪ [ "me and you" by barry louis polisar ] ♪ me and you just singing on the train ♪ ♪ me and you listening to the rain ♪ ♪ me and you we are the same ♪ ♪ me and you have all the fame we need ♪ ♪ indeed, you and me are we ♪ ♪ me and you singing in the park ♪ ♪ me and you, we're waiting for the dark ♪ (announce

it looks like softbank is delving into the south korean market.ion won in south korea, into the south korean firm which is cloud-based booking and others for hotels, etc. a lump of cash going from southbank into south korea -- softbank into south korea. we will have more on that story very shortly. coming up, we spoke to another tech tighten, the microsoft ceo on the cloud offerings as cybersecurity threats are keeping him up at night. this is bloomberg. ♪ >> we will, and we are in the process of a generational shift. we have now done this entirety of generational shift. that means governance, that means one share, one vote, and that also means leon stepping down from the firm at the beginning of the year and josh stepping back upon closing of the deal. manus: apollo's mark rowan speaking in the latest installment of our investment talk series. you can see more of the interview, 4:00 p.m. london time. microsoft kicked off the 2021 conference. the ceo satya nadella spoke with emily chang on the cloud company offerings to how cybersecurity is adjust

, uber is japan's soft softbank, uber is its number two stakeholder, and of course you have 10 centscan start making money. last year it lost $1.6 billion because of the pandemic, making some money in the first three months of this year, so we will see how it goes.— months of this year, so we will see how it goes. certainly huge backers. now, _ see how it goes. certainly huge backers. now, do _ see how it goes. certainly huge backers. now, do stay - see how it goes. certainly huge backers. now, do stay with - see how it goes. certainly huge backers. now, do stay with us. backers. now, do stay with us here on bbc news, still to come, fix it up yourself. new rooms aim to give consumers the right to repair appliances rather than throw them away. china marked its first day of rule in hong kong with a series of spectacular celebrations — a huge fireworks display was held in the former colony. the chinese president, jiang zemin, said unification was the start of a new era for hong kong. the world's first clone has been produced of an adult mammal. scientists in scotland have produced a she

we have seen reaction from softbank, a backer of didi, as well as another company.e're not just talking about didi now. i'll get into the other companies. it is worrying global investors. it is a little different than what we saw with alibaba/ant. that was a joint listing in hong kong and shanghai, not new york. didi was in new york. in these other companies which i will talk about now in both the trucing business and consultancy business, they have listed last month in the united states. we are seeing the regulators catching up because a lot of these platforms, as we explored through the ant process on redlines, the documentary, we might have part two, given that this has taken on another state. -- another stage. we have seen beijing playing -- catch up to the regulatory lag that has allowed these companies to grow so large and pose a threat to the communist party rule and the communist party control of that very sensitive data, which these chinese platforms are building tropes of -- troves of. haidi: is it just playing catch up because part of the outrage by inves

big investors facing risk include softbank and others.y a

projections >> right and something that i love about the book is that it goes into further detail into softbankole so much of this has focused on adam newman, but masa, you know, you guys painted him as a great enabler. and i wonder when we talk about lessons learned, how soft bank sort of used what they've learned from wework when they invest in many companies through the second vision fund >> yeah. i think there's some nuances that are different the idea of pouring billions at a time in a company that need to lose billions for years is a little passe, but generally, softbank is sort of riding the highs in some of its bet that did work out and pouring mott money into the venture space in sort of a huge way as you said, tiger is doing this, too. and spacs are essentially a size of the vision funds their own in terms of what they're putsing into the market. things are super charged there's a lot of founders that still have full control. that's a common thing and that's what let to a lot of the wework madness. i don't think much has change in the past two years >> adam newman sold stakes in the c

it has raised $415 million from a group of investors including softbank's vision fund 2.of the largest funding rounds for the company. the ceo says the capital is now enough to seed global expansion. nissan says the global semiconductor shortage could ease before the end of this year. the chief operating officer told bloomberg that a lack of chips had not slowed down any new model launches but it has forced the company to adapt. >> semiconductor prices is a new normal for us post-pandemic. this crisis has taught us how to plan for the unpredictable scenarios. we are adjusting our production but i'm pretty sure we will be out of the woods soon. haidi: let's take a look at the stocks we are wanting as we head into the start of trading this friday session. sophie: we are watching carmakers. toyota posting a 72% yearly jump. hyundai warning that inventory will keep squeezing sales this summer and turning out the board to australia, we are watching for the start of trade of a copper miner. switching out the board to see what we are watching for an australian markets and this w

japan's softbank group is its largest investor. >>> okay.et's get a check on the markets. >>> that's it for "newsline biz" from tokyo. i'm ramin melligard. thank you so much for joining us. ■úcñsñ arrested. time for a quick check the headlines. on monday, rebels captured the regional capital. >> the cease fire itself was not something agreed, something the if the opening government unilaterally declared when they appeared to be on the back foot.

do think also that that growth model could change now this is the first real dent in the way of softbank huge bets on big tech growth this is a reminder that's not always going to win, even though it has been winning for the last five years. >> all right ranjan, as we're talking, there is a flash head that china-based hello is withdrawing a plan for u.s. public offering i guess that -- at this point that shouldn't come as a surprise. >> yep, i mean, the chinese companies listing, the situation in early july, it was the tell, wall street journal reported after the initial ipo that behind the scenes the chinese government was pressuring them to not list in the united states and they did it anyway they directly went against the chinese government and most of these companies that have been listing here have been through variable interest entities, which are shell companies in the cayman islands that, like, have a link to the original chinese company, but it is effectively financial engineering and it depends on the chinese government allowing the arrangements to take place, even though they

. >> deirdre, thank you, tim seymour, we were talking about the chinese crackdown, you mentioned softbankring who would have felt the most pain with this massive liquidation of chinese tech stocks and here softbank is feeling some pain apparently. >> >> yeah, no question, and there were a lot of questions of were there big accounts. in this case these guys were monsters that felt the pain in a couple of recent blowups not good news also you don't necessarily sell something you're feeling good about as a function of something else you lost, and i don't think this is, you know, a margin call per se so it's concerning, obviously, core shareholder, somebody who's been there from the beginning taking some chips f e ofthtable. i don't like that news. >>> up next, final trades. ♪♪ ♪♪ ♪♪ i'm 53, but in my mind i'm still 35. that's why i take osteo bi-flex to keep my moving the way i was made to. it nourishes and strengthens my joints for the long term. osteo bi-flex. find our coupon in sunday's paper. osteo bi-flex. (sound of people returning to the workplace) (sound of a busy office) (phones rin

softbank's second business fund invested $13 billion, including investments in at least 50 companies. report says the japanese firm was placing more modest bets on health care and software businesses with its second fund. haidi: it looks like asian markets are set to rally. perhaps celebrating the wind by italy this morning. stocks about .3% higher. we did hear tightening in the coming year, potentially as soon as july, but market expectations by november there. sidney futures, a pop of about 1% following that rod based rally in the u.s. session on friday. we could see asian stocks charging backup given that we have seen a lag. u.s. and european equities continue to surge ahead. chicago nikkei futures looking muted there. the markets digesting some of the mood over the weekend. chinese ddp on the calendar this week as well as the g20 meeting with the finance chiefs talking about pushing through a global tax plan. s&p futures trading plea for flat at the moment -- trading ready flat at the moment. kathleen: some other stories are we -- as we count down to the trade in seoul, korea. we

look at not softbank, uber. down 3% because softbank is selling out.and cover the losses for the china uber didi stock they own. didi trading at nine bucks now. don't forget it ipod at $14. that is quite a chunk they're losing. according to reports it be looks like softbank may have lost $4 billion already on their didi holdings. there are reports this didi may go back to being private company. beijing didn't want them to ipo in new york. they went ahead any way. that started the chinese stock route. didi says that is not true. stuart: didi went public on new york stock exchange, took in a ton of american money. opened up at 14 bucks a share? susan: 14 bucks. stuart: couple days later chinese government puts restrictions on didi and they sink. they got the american money and they leave. that is not very good. tell the audience what is coming up, susan? susan: sure. stuart: covid coverup question, workers said they were told to downplay a could have individual outbreak at a migrant detention center in texas. the report. ben and jerry says they will not

one hand, the strategic investors, companies with a lot of money, when it comes to didi we have softbankyou have smaller investors that brought on this listing on the hopes it would continue to do well. any investors really wary and wondering whether or not it is the best place to put their money don�*t make one investor says he has taken out $3 million from china, all of the investment of his clients in china from this uncertainty. external investors are saying ifjack — external investors are saying if jack ma external investors are saying ifjack ma is no longer untouchable, then, you know, what _ untouchable, then, you know, what is — untouchable, then, you know, what is in _ untouchable, then, you know, what is in it— untouchable, then, you know, what is in it for us? we are poor— what is in it for us? we are poor old _ what is in it for us? we are poor old investors, we will be the first — poor old investors, we will be the first ones to suffer from that — the first ones to suffer from that it _ the first ones to suffer from that. it has genuinely scared a lot of— that. it has genuin

how could softbank hope with the rising china regulatory risks on the tech behemoths -- do they haveome leeway. the fact that the vision fund was mostly invested already, the $100 billion, they used up more than 90% and they need to pay preferred dividends. but the second one, they have lots of leeway. as we observe, in the gym quarter, the allocation of the fund became smaller for each investment size. it is about 200 something million dollars. they already have 50 portfolio companies invested in the june quarter, and that is a lot, given it's about $13 billion, given the first vision fund which they had more than 80 companies. secondly -- if i can talk about the investment phases. now that the investment will be more difficult to ipo, if they get involved in the earlier stages, for example in series a or series b financing rounds, if they get in earlier, and bennett come to those unicorns raising new money, they can also invest. not necessarily on ipo exit. haidi: i am of course wondering how the strategy will change in light of everything going on with china. what other changes do

big investors facing risk include softbank and others. traders bracing for a busy week headlines by a fed decision, plus the dangers of data and earnings. the u.s. and china set for high-level talks with tensions high and cooperation at risk. haidi: this is what we are seeing when it comes to the countdown towards the start of trading across measure markets here in asia. we are seeing a pretty mixed start. traders are weighing the u.s. rally on account of corporate earnings, starting to kick off in asia proper as well as the tech sector cracked down and of course, don't forget the federal reserve meeting this week as well. we are seeing the dollar hold pretty steady in the early part of the trading session. we had that -- those trade numbers coming out from new zealand just shortly before taking a look at the annual trade deficit widening by the june numbers. sydney futures up by .3% as we continue to have some confusion as well as concern that we could see that new south wales sydney lockdown being extended by the government. chicago nik

over in japan, softbank is leading a new funding round in clear finance.worth more than 200 million dollars. clear finance plans to expand into asia by year-end. fujifilm saying that it is going to pivot to health care and it is paying off. the ceo spoke to us about diversifying from film and digital cameras, plus there are reports that bridgestone will suspend operations in myanmar at the end of july. over in south korea, president moon is falling short of his minimum-wage goal. labor unions want a 20% hike to pay while businesses want a freeze. a record debt binge may be nearing an end in south korea. sales of denominated corporate notes are down 33% on the month. cap how bank is beginning its ipo book building. the process will continue until july 21. let's turn to sophie for what to watch in the markets. sophie: we are looking to south korea raising social distancing levels to the highest for the city of seoul for the next two weeks so keeping an eye on tr, specifically on collaboration, keeping an eye on battery makers as well as they plan to invest 3

the kitchen start up has raised $415 million from a group of investors including softbank vision fundarks one of the largest funding rounds for a middle east company and the ceo says the capital is not enough to seed global expansion. shery: here in the u.s., we are getting ready to celebrate independence day and bloomberg will be broadcasting one of the fourth of july big events, the boston pops fireworks spectacular and you will be missing me on asia monday because i will be watching that. went aboard the august navy ships still afloat which played a key role in the war of 1812 against the british. shannon has the story. shannon: the uss constitution, also known as old ironsides, is the world's oldest commission worship afloat. >> we try to talk about her, really bring that history to life. >> it earned its nickname during the war of 1812 when british cannonballs were seen bouncing off its wooden hull. >> you don't get fully immersed until you are here and you see all of these. shannon: one of those 24 pound guns has a new name. >> i noticed not all of them were named. in 1812, when

walmart joined investors including softbank and $3.6 billion. >> this deal will end the race to the bottom. instead of asking the question who can offer the lowest tax rates, we will allow all our countries to compete on the basis of economic fundamentals. on the skill of our workforces, on the capacity to innovate and the strength of our legal and economic institutions. jonathan: u.s. treasury secretary. good morning. alongside tom keene, i'm jonathan ferro. your s&p down 14 coming into monday. we are lower by a of 1%. a bit again, yields heading south by two basis points. we have to talk a little bit about europe later. euro-dollar negative 2/10 of 1%. didi global down 4.82%. reporting it is had to take down additional apps in china. just amazing to see this company tap u.s. capital markets for several billion dollars and then clamp down. tom: how do the american banks respond to this? jonathan: we have not seen and i don't know. according to the dow jones, they are pulling their ipo. lisa: we don't want to tease people to actually get involved. the concern the u.s. could take some of th

sub cart has raised new funding -- the company's main owner, walmart, joined investors including softbankg an additional $3.6 billion. walmart has been working toward an ipo for the business. ibm is looking to the future, exploring how artificial intelligence could improve online advertising. big blue researching how they can spot and cut bias in the process. joining us now is bob lord, senior vice president of blockchain. there are issues around online advertising, targeting people on equitably and racism integrating into that process. how does this work? bob: great to see you again and thank you for having me on the show. bias has been prevalent throughout the history of advertising. the industry has a long overdue obligation to address this. i have learned ai can help figure out whether or not your advertising is biased toward one community or another and help to address that going further. so we launched this research study to get on the solution and take a scientific approach to attacking bias in advertising and, in my mind help the brand communicate better with its consumers than it

didi's company has an independent director that was appointed to represent the major investors, softbankn, that independent director, is a west point graduate. this is the reason why they see this as a major national security issue, because they don't know if this guy is going to report things to the u.s. government, given the heightened tensions between u.s. and china. and so this, you know, was a major concern. they brought it to didi. didi ignored them, and china's government says, we cannot have a company challenging the chinese government on this this is why -- yeah? >> the part about this i don't get. i mean -- the u.s. government doesn't have access to apple's data you know or data on apple's ios users where they are necessarily, what messages they're sending, because of encryption rules apple adopted. why would a board member of dedid didi have rider information? >> i'm not a technologist. so i don't know what the capabilities are in terms of cyber spying, because we know that takes place and certainly there be very sophisticated applications that can probably get around things,

. >>> and microsoft is reportedly in sttalks to take a stake in oo softbank owns a 46% stake.ere that company expected to go public at some point >> talk about diversification. bertha, thank you. >>> to the top stock story amazon shares reporting first revenue miss in three years for the second quarter the company also projecting weaker than expected results for the current quarter despite the third straight $100 billion plus quarter in terms of overall sales. advertising cloud firing on all cylinders. joining me now is gene munster.r >> i have to make a difference between the stock and the business this company has become more of the fabric of our lives. grew retail at 13% off the difficult comp everything is firing on all cylinders. the question is if the margins can be better for a different minute there i think from the stock perspective, this is essentially begging the question around amazon for a long time what is the true growth rate what we are seeing here, of course, is the topic for most tech companies the true growth rate will moderate to 15% for next year. look at

approached the grocer's board yesterday the board recommended an $8.7 billion takeover bid led by softbank's hands over ceo to his former cloud boss. jassy is taking over at a great time for the ecommerce giant it is facing pressures in the mounting anti-trust crackdown in the united states and abroad bezos transitions to executive chair of amazon's board. he will focus on his blue origin space endeavor capping off a 20-year run since amazon went public in 1997 when it was just books. now it has taken over our lives. brian. >> that number is not incorrect. 234,000% gain for amazon since that time. truly a remarkable run contessa brewer, thank you look at that >>> now to the big global story. the epic impasse with opec the group scheduled to meet again yesterday, but called it off at the last minute and saudi arabia and russia declined to participate in the meeting now it is complicated. the issue is the disagreement for the production level for the uae and the length of the new deal the opec plus group had agreed in principle last week to raise production by 400,000 barrels a day for the nex

. >>> softbank's didi losses according to the financiial times, it is now $4 billion in the red thanks to the ride hailing app w that stake is now worth under $8 billion. u.s. trading debut from a month ago. >>> investors betting big on the u.s. financial assets. more than $900 billion has been funneled from across the globe into u.s.-based mutual and exchange-traded funds in the first half of the year that is a record in data going back to 1992 and comes with the three major indices with gains of 15% or more this year. >>> we will stick with the u.s. markets as the futures point to another tough start to the trading week on the heels of the steep sell off from monday joining me now is catherine faddis cate, thank you for waking up early with us. >> thank you nice to see you, frank >> good to see you, too. one thing that is not good to see is the futures down this monday morning second monday in a row you have concerns about the da delta delta variant. 625% increase over the seven-day moving average how big of an impact do you see that on futures this morning >> frank it is having an i

it was led by the softbank fund. >>> on deck, a lot more to do. despite huge numbers lately, is there more turbulence ahead for air travel recovery? new comments from united's ceo >> announcer: today's big number $26,500. that was the average price of the used car in june according to edmunds a new record prof7%vethe 2 or e ior year its all? made to order or ready to go? with a hybrid, you don't have to choose. that's why insurers are going hybrid with ibm. with watson on a hybrid cloud they can use ai to help predict client needs and get the data they need to quickly design coverage for each one. businesses that want personalization and speed are going with a smarter hybrid cloud using the technology and expertise of ibm. nice bumping into you. ready to shine from the inside out? try nature's bounty hair, skin and nails gummies. the number one brand to support beautiful hair, glowing skin, and healthy nails. and introducing jelly beans with two times more biotin. i'm evie's best camper badge. but even i'm not as memorable as eating turkey hill ch

. >>> and uber is selling its stake in the company with softbank all to cover the losses in the didiha coombs, thank you for that see you later on. >>> it has been a busy morning for earnings for europe. julianna tatelbaum is standing by in the london newsroom with the names we need to know about. good morning, julianna >> european equities are tradin higher stoxx 600 extending gains. you see the majority of regions are trading higher let's dive into the individual stocks starting with credit suisse. shares down 3.4% reporting an 80% decline in the second quarter profit after bank revenues fell 40% year on year the bank outlined a pre-tax loss of $653 million due to aergos. and the stock of airbus with a 30% rise in demand the largest plane maker updated guidance and expected to deliver 600 jets by the end of the year. >>> astrazeneca updated guidance and the covid vaccine sales tripled, but impacted sales slightly dom, back to you >>> to a developing story from washington, d.c. the senate voting to advance the bipartisan infrastructure bill tracie potts joins us with the latest ther

we have fantastic shareholders, sequoia, lightspeed, softbank, airbnb, all great investors. set of capital providers around the company and widens the capital holder base. we are probably the first indian company to be able to get rated. i think it sets the validation of a company which has been rated by moody's and various other well-known agencies. the third is the response we got is very important validation of our performance. we went to the market for $600 million. we have now allocated the upside to $660 million, so we are announcing the raise. it clearly is a very important -- from a public company perspective, i think we have for the recent couple of quarters we have started operating like a public company with a border that is primarily nonexecutive. really, we are already operating like a public company. when we go public is up to the board. emily: the company was, i believe, before the pandemic valued in the area of $10 billion. where is that at now? ritesh: i think, emily, we will leave that to the public investors to decide. my job is to put my head down, serve

this year it grew $120 million investment from softbank to fuel its expansion into the u.s it's raisedcause it offers big companies an easy way to use technology to hire diverse types of employees with specific skill sets many of these new platforms use ai to better match employees and employers, and a lot of them are also turning to skill-based tests to help remove unconscious bias that could impact how people evaluate resumes. guys >> julia, obviously these are job-matching sites, but some are more than that what other kinds of tools do they offer >> the key thing is you want to find the best match for the job. a lot of these companies are doing things like skills-matches tests to make sure this isn't some been you can hire quickly and efficiently, but that this is someone who will be such a good fit for your company and able to grow with the company long term, maybe the company will perform better, because you've done a better job hiring, maybe you'll have less turn. so the whole idea is not just to hire faster and more efficiently, but really hire better, find the perfect match for

billion a year ago more than 60 investors participated, including such names as sequoia, thirdpoint, softbankounder and ceo of cryptocurrency exchange ftx in a first on cnbc interview welcome back, sam. it's nice to have you with us. >> thanks for having me. >> it's great to have you here how did you do this so quickly your company is two years old and you're doing something like $400 billion worth of volume per month, which is 25 times what you did a year ago how did you get the uptake at scale so fast? >> you know, it was really just a lot of small things put together, a lot of decisions that we've made around how to build a product, trying to be as responsive as we can to customers, to regulators, to counterparties and, you know, honestly from our perspective, it sometimes feels like the world is going sort of in slow motion around us and that we're going at about an average speed by our standards >> so let's talk a little bit about the competitive landscape, if we might, and get you -- you don't have to mention competitors specifically, but i'm interested in learning what sets your platfo

end up seeing other big moves in things like uber, lyft, which is exactly what was happening with softbankis is the contagion risk, how it builds. it starts isolated and then starts to bleed out because people buy this as a theme in bucket and basket, part of an index. lisa: especially as china becomes more mainstream in terms of indexing and its inclusion in stock portfolios. this is one thing people were looking for. we did not see a note of contagion over the past week or so. the selloff is gaining steam. there is a question, tom talking about chinese authorities being involved and this is their market. yes. the question is, how tolerant will they be for a selloff? the fact they are uncomfortable with how severe the selloff has been is giving people comfort. the balance of where their priorities are with respect to their society is still unclear. in terms of how far they will go with the capitalistic economy. jon: that changes things for investors. next chinese company, no idea when this will happen, but the next time a big company goes public in the united states, what's the attitude?

uber dropping on reports of softbank selling a third of the stake. softbank is planning to sell 35 million shares to cover the losses on didi the wall street journal reporting that this company is considering going private to placate chinese regulators to compensate investors for the losses suffered since it listed in the u.s. last month >>> ford shares are trading higher automaker reporting a surprise second quarter profit. sales rose 40% beating forecasts. strong demand for vehicles allowed it to forego discounting them as the chip supply is improv improving. raising guidance for the year and talks about headwinds are the rising commodity prices and $1.5 billion in costs related to the ongoing shift to electric vehicles andrew, when was last time you took a trip on the road? >> on the road >> you hear about my -- no, i went on it. >> your one on friday. >> adaptive. i went to cincinnati on friday and came back on sunday. i drove the whole way. the adaptive cruise control. i'm telling you, god is my co- pilot. adaptive cruise control. >> for the tes

meanwhile, shares are falling after c increases reported that softbank is selling about 30% to coverir losses. the question is, what are retail investors thinking >> yes, they were good zenchs we've talked about some of the reasons. anyway, it's been a pleasure, frank, having you this for this hour. >> such a great time, we should do it tomorrow. >> we will we'll see you tomorrow on "power lunch. "closing bell" starts right now. >> thank you, frank and kelly. who is robbing whom? stocks are broadly hired, but we'll have a look at what's driving the action missing estimates, the v-shaped recovery continues the pace, but could the delta variant cause the economic rebound we'll dive into the story. the robinhood

an early morning from the richest man in japan, softbank founder and ceo masa son when we spoke in mayany countries >> going more than double over budget has been the norm over the past 60 years but the real danger for this olympics is it turning into a superspreader, and the human toll and economic damage that could have on japan. >> andrew, thanks. >>> the official timestamp of the pandemic triggered recession, that's what is topping cnbc's "on the money." it might have felt like a life time but the recession that started at the beginning of the covid pandemic lasted but two months the shortest recession in u.s. history, according to the national bureau of economic research it lasted march through april of last year. the economists who determined the timing say it ended in april because that's when the economy reached its lowest point in terms of jobs and output >>> now, a company that did not feel that covid downturn zoom agreeing to buy cloud call center provider five9 for close to $15 billion in stock. five9 makes cloud-based software that uses artificial intelligence to help comp

the right hater is slipping on -- hailer is slipping on reports that softbank is in the process of selling a chunk of shares to help cover losses incurred by rival -- the well, it's not really a rival, but didi. the chinese ride-hail app, which is actually moving higher today by 10%, has crateredded the past couple of days in the wake of china's regulatory crackdown on the u.s.-listed companies. uber's down about 2.9%. and didi is refuting rumors that it is going private again. it just went public. that it's going to reverse back to privately-held to avoid the wrath of xi jinping. we will have more on didi later, that story changing at 100 miles per hour each and every day. for now it's better by 10%. and investors are pulling their money, taking it back from paypal. shares of the payments giant sinking 5.6% after issuing disappointing guidance despite if beating profit estimates. >>> we have a direct correlation at this hour between gold metals and one company's stock. vista outdoor going for the gold in more ways than one. the ceo of vista is here exclusively on how his sporting brands a

. >> those are the softbanks of the world. to participate you do it with direct investments which can be tricky because they are volatile or you can go through a fund like cathie wood's arc fintech financial fund where there are $4 billion of external capital. many names you might not have heard of in the fintech space and some others, paypals, sill lows, and quill -- quill yo you have heard of. charles: let me jump in here. i have less than a minute. the banks, lending limit, losses are piling up much faster than loans and consumer spending. an article in the journal talked about rich folks getting loans. are you concerned, the loans, deposits go on the balance sheet as liabilities but more importantly that maybe there could be some political pressure on the banks, maybe even banks will stop taking deposits soon? >> you know they talk about that every once in a while. i'm not really all that concerned about it. by the way when they talk about trying to defer deposits they do it with large institutions not with individuals but

shery: softbank's vision fun is investing $1.7 million in south korean travel apps ahead of an ipo thatin planning. sources say the deal boost his value to more in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. >> this is "bloomberg daybreak: asia." the german chancellor has pledged swift help for people best -- devastated by floods in germany. more than 60 people our dead, dozens are missing due to the torrential rain. mobile internet services are also impacted in the floods hit part of luxembourg, the netherlands and belgium. in looking to cut pollution by 55% by 2030. it will ban new combustion cars by 2035 and impose costs on dirty home heating. >> we believe this can be done and th