we consider softbank as not being investable. we do hold softbank in a portfolio.s a big component of the index. they are mostly neutral. it is a really tough one to gauge and analyze. >> yes. we would expect the picture to worsen given the timing of the regular tory crackdown given all of this. what would make it investable? >> his ability. this is the chief investment officer as well as ceo. he decides what they buy. not long ago, they were moving them into the options market as you probably for member. in and out of different asset classes. they just don't have any visibility. despite the fact that all analysts have a buy recognition on the name for different reasons, it is one big black box. you have no certainty or confidence to go in there and recommend the name. >> let me talking about nintendo and sony. that procurement has been an issue with some of their hardware production. where do you stand on these two companies? we have been short both stocks. we shorted again when the q3 results were out. i think these shortages are only a small problem. the year on

keep an eye on softbank. switching out the board, we're going to be watching reaction in asia to the u.s. infrastructure bill. construction players. last year, the u.s. imported 9% of its steel mill products from south korea. 4% from japan. we are watching the steel sector as china's steel hub extends curbs ahead of the winter olympics. one chart, the dollar very much in focus as traders build bullish else -- bullish bets. looking to test the moving average. goldman arguing dollar strength will wane as u.s. growth starts to slow. strategists say sustained mendham as concern over the delta variant suggests the safe haven up you'll of the greenback will continue. shery: let's get over to vonnie quinn with the first word headlines and a little more in-depth analysis of andrew cuomo resigning. vonnie: he is a resigning in two weeks. vowing -- bowing to pressure to leave office or phase impeachment. cuomo maintains he did not harass anyone but admits being thoughtless in the ways he spoke to and touched women on h

this quarter, it cost softbank about $4 billion.on wanted to focus on more positive things, how diversified the portfolio across the technology stack. he said only 23% of the portfolio by value is startups in china. in the previous quarter, didi is the reason why the company was able to remain profitable. in the current quarter, companies are heading steeply south. there was a really good chance that it will be the first loss since the big blowout at the beginning of the pandemic a year ago. haidi: a personal stake in the vision fund. lots of red flags here went it comes to governance and conflict. >> softbank unveiled a co -investment program for management. he will be able to invest up to $2.6 billion of his own wealth into a second vision fund. it will give him about a 70% equity stake. it will do something similar for the latin america fund. this is not entirely new. we knew that something similar was in the works for the original vision fund. masa said himself that things kind of went south when the stock market crashed and the

lots of moving points with softbank -- parts with softbank.s larger than anything they have done in that space so far. mark: siemens energy, we had the ceo on bloomberg earlier. what is the story? >> more of a confirmation of a downgrade. the big hit that is happening is from the wind turbine company which downgraded its guidance last month. that has weighed on the stock significantly. the gas turbine business and any other renewable upside the stock may have, the headline news is they clarified the margin guidance is lower. anna: and hugo boss. numbers out from the german business. >> this is a case of a good story from a luxury good store. they confirmed their guidance, continue to see improvements. maybe not as bullish as some others, but we expect shares to do ok. anna: thanks very much for joining us with the stocks that we are watching. just a few minutes to go until the start of the european trading day. european equity market futures look positive. u.s. futures entirely flat right now, but i guess coming off really high levels. mark: l

investors awaiting news on a softbank buyback.

francine: juliette saly looking at softbank from singapore.up, we will get your stocks to watch including ihg. we will bring you all the details next. this is bloomberg. ♪. this is bloomberg. ♪ francine: welcome back to the open. we are 10 minutes away from the cash equity open. futures are moving sideways. a little lower for the ftse 100. sam, let's start with travel. make a stream. ihg was not too bad. sam: significant recovery from last year. their revenue per room is growing or recovering to the 2019 levels. editor in asia and the u.s. than in europe but things are on the right trajectory. mark: bayer is in the news again after they lost a third appeal on the roundup cancer link. sam: we are seeing shares called a little lower today. this was broadly expected that they would lose this appeal but this is the most -- major overhang for the stock. results last week were disappointing. this is the major overhang that will be on shares until they can get some kind of clarity about how much it will cost and how long it will take to resolve. fran

it is currently owned by softbank. we know that the u.k.in april to investigate whether the deal could be anticompetitive or could pose national security concerns. it is not exactly clear how a japanese owned ship division would pose -- chip division would pose those concerns but nonetheless nvidia has said they are working with the regular tory process and there's still the possibility of a deal -- regulatory process and there is still a possibility of a deal. haidi: the kiwi dollar is moving on the back of the labor market data. >> a surprise improvement in the jobless rate for the second quarter, which is tightening bets. new zealand's cash rate that they are seeing new zealand's cash rate being lifted the end of this year. the bank of thailand is expected to stand pat for a 10th straight meeting. the bat fell. there are expectations it could gradually improve if massive tourism turns, forecasting the timeline around that is extremely difficult and pulling up the terminal, our colleagues are taking note of pressure on the renminbi which

softbank offer to sell $2.2 billion of its stake in the company.ing to a source that says the deal was done through goldman sachs. turning this is ed ludlow. doordash reported a pretty strong quarter. does this have to do with doordash, or softbank trying to address some of its own losses? ed: great question. the shares opposed of the biggest drop since early june. when you see a trade like that, the psychology of the market comes into play. it is also just an issue of market mechanics. you flood the market with supply when you sell that many shares. as you say, the story of doordash has been strong. they have had staying power throughout the pandemic. yes, shares are down from a february high, but this is much more a story about softbank. softbank has been on a selling spree. pull up some of the stocks they sold. in the second quarter they trimmed their stakes in companies like facebook, doordash and netflix by $14 billion. the question is why and who is behind it? let's bring up a picture of the most important man in the world of private investme

softbank also one to watch on several fronts.have also learned that nvidia 's a deal with arm, which is owned by softbank, could be at risk. >> we do know that softbank is one of the biggest shareholders according to data compared by bloomberg. we also saw growth increased during the pandemic, particularly with its covid-19 testing business, the company's diagnostic position. it has a lot of aging cancer drugs facing competition. people close to the matter believe the division is undervalued. it does rely on a strategy, a database discovery of drugs and designing of its research. shares of the company are up about 9% in the past year, slightly below the interest rate standard. it is important to note softbank has been very focused on biotech and health care, and sources close to the matter say they have very slowly been building this very large space for five years. shery: we're letting the u.k. government could be blocking the deal. su: the u.k. apparently concerned about security issues, that if they were to rise to a certain l

softbank has been on a selling spree.trimmed their stakes in these companies -- facebook, uber, doordash, netflix. the question is why and who is behind it? bring up a picture of the most important man in the world of private investment startups. for so long, he was against liquidation and against cash. but they want to infuse new cash into startups. what we are seeing is this change in their own psychology about wanting to exit and that is what's more at play. it is not an isolated incident but a run of position trimming that we see through softbank throughout 2021. emily: in the meantime, it has been quite a year for ransomware attack's. it has spread to 1500 businesses. as more companies go to the cloud advantage -- and manage several workforces, it is more critical than ever. microsoft is investing in startup software rubric. -- rubrik. i want to bring in rubric ceo and microsoft independent director for an exclusive interview. it has been an incredible year. unprecedented, really. how do we even start to stop these r

vlad: softbank is likely to pursue an ipo farm.luation, $40 billion, when you look at bytedance, being valued at $500 billion, it might be underpricing arm. if the video -- if softbank goes the ipo route, it might make more money. for nvidia, it is committed to paying $2 billion no matter what happens. nvidia really wants to get this through and the company says it is confident it will get through. yvonne: our star asia tech editor, thank you. we will be watching the bank of tokyo. malaysia's political woes have gotten worse. the country's largest political party has withdrawn support for the ruling coalition and puts the prime minister in doubt as he faces sure to resign. and traveloka is in talks to raise $400 million as part of its plan to go public via a. david: spac of southeast asia benchmark is up a third straight day. a couple of moving averages to watch. vietnam is a little closer to the top of the 50-day moving average. the philippines has been hit in a lot of ways, declines all over the place. jakarta and to a lesser ext

interesting acquisition for robinhood, a play for the retail investor >>> softbank reporting a slump in quarterly profits overnight this is the company highly levered to china, estimated that 44% of the value of the investments are there in china, so interesting to see the ceo telling investors that he's in wait and see mode amid beijing's regulators, crackdown on tech companies. alibaba represents almost 40% of softbank's asset value then there is the pressure on recent ipos didi and full truck alliance and bytedance he remains optimistic about the future, he expects alibaba to rebound and he doesn't have any doubt about china's tax future as for the vision funds, they lost more than $6 billion collectively, paper money, on the value of nine holdings including south korean e-commerce company kupon which went public. it also sold shares in uber and didi for gains which helped it reach over $2 billion in profit for the quarter, softbank shares, they're down 36% from the march high and he loves to talk about how softbank is under valued by the markets. it was inevitable, not saying any

softbank is going to be the big one.nvestments will be in focus today when the company reports results. earlier, we did speak with asymmetric advisors on what else investors are watching. >> what people want to see is by bank to push the share price up like we saw last year. given what has been going on in the ipo market and how strong that has been and how strong technology has been, the asset value is not closing. it is widening. we consider softbank as not being investable. david: encouraging for the bowls. where's our indices some of the likert getting bought out. we will see whether this lasts. across these markets, it is risk on. we are waiting to see. inflation is a big theme. yvonne: that is going to be the key one here. are we going to support what the hawks are saying that the tapering could happen soon? this is bloomberg. ♪ 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 n

they said they had financed 10% of all the financing in unlisted ai startups came from softbank.s definitely trying to show his confidence in this strategy. david: thank you, our japan equities a senior editor. brief check across the markets. unemployment numbers out of south korea. singapore have raised their forecast for growth. we will talk more about southeast asia on the others of this break. inflation coming through back below 2% on your 30 year yield. japan heading into their lunch break. four basis points above zero now on your 10 year. this is bloomberg. yvonne: this is the china court saying they are going to be jailing the canadian citizen for 11 years on spying charges. this is just what we are getting so far from that court. but we were expecting this verdict to come in sometime today. we are still living for -- still waiting for a little more detail. let's bring in bruce einhorn to talk us through the details. 11 years? what more can we expect out of this? bruce: we're still waiting on the who also was put on trial for alleged spying. we don't know when the verdict

i think softbank has made good judgments.hat amount of money is good for the company but sometimes too much money is very damaging for the company. erik: -- emily: entries in horowitz co-founder with david rubenstein -- andreessen horowitz co-founder marc andreessen with david rubenstein. you can catch the full interview this evening. chipmaker reporting a narrower loss than wall street expected but days after its fallen founder was charged with misleading investors, ed ludlow joins us with how the current ceo is managing. ed: the long and short of it is they will now only make 25 to 50 trucks this year. they were going to make 50 to 100. what so amazed and shocked me when i spoke to the ceo was that they will not even be able to sell all of them because they will be missing parts like semiconductors, and until they can retrofit them, they are not able to put them down as revenue, so they will just give them away for free for testing purposes. emily: is he throwing him under the bus or defending him? ed: the company has been

sources tell bloomberg that softbank is offering $2.2 billion of its stake in doordash in a block tradeough goldman sachs. the block trade is the latest move in softbank's selling spree that tripled to $14 billion last quarter and comes after doordash recently forecast a seasonal decline in new customers. we will have plenty more to calm on "daybreak asia -- to come on "daybreak asia." this is bloomberg. ♪ introducing xfinity rewards. our very own way of thanking you just for being with us. enjoy rewards like movie night specials. xfinity mobile benefits. ...and exclusive experiences, like the chance to win tickets to see watch what happens live. hey! it's me. the longer you've been with us... the more rewards you can get. like sharpening your cooking skills with a top chef. join for free on the xfinity app and watch all the rewards float in. our thanks. your rewards. haidi: we do have cpi numbers coming out of japan at the moment. we have the year on year numbers coming in at a follows .3%. that is actually slightly better than expectations of a contraction of .4% but again falling int

chip company by market cap, and this is a $40 billion deal to acquire arm, currently owned by softbankwe were talking about this earlier, that this would be a potential deal breaker for the u.k. government, not wanting to give it over to nvidia. guy: the concern here obviously is that while softbank's ownership allows for arm to sell to everybody, nvidia is a very different story, and the u.k. government is certainly tightening up its restrictions in terms of allowing such sensitive technology. arm designs huge swaths of semiconductors used in everything around the world, and as a result of which, it may have made the decision that actually it will block such a decision. others are being done, so it is interesting to see what happens. certainly something to watch out for, but governments around the world taking a much stricter view and interpretation of the law in terms of particularly chip design and security. alix: and nvidia is down by 0.8%. back to you, willie, it is good to see you. i want to get to your understanding of what happens if we see a stay-at-home recovery. we have been

let's turn attention to it now softbank with a 39% fall in first quarter net profit the group's techestment vision fund with a profit over $2 billion on china, the softbank ceo wants to wait and see the regulatory action will have on the stock market once that becomes clear, they will resume active investment in the country. meanwhile, hello fresh, germany meal kit jumped in the second quarter as year on year growth in the core u.s. market grows 62%. in the travel space, ihg hotels returned to profit in the first half holiday inn brand looks to cut costs. those are the key corporate stories this morning in europe brian, back over to you. >> all right julianna, thank you very much. i appreciate it. see you tomorrow morning >>> right now, let's get some of the morning's other top stories. including potentially a new bid for a train company and maybe the ultimate win for one mr. dave portnoy and barstool. bertha coombs is here with more. what is happening on this tuesday morning? >> good morning, brian boston fed area president is adding his voice to the growing number of central banker

softbank earnings falling back to earth net profit was $6.9 billion.at was driven by several ipos in the division fund portfolio coupang well off the highs from last march crackdown in asia taking a toll and not reflect in the company softbank's biggest holding is alibaba as it has been accused of anti-competitive practices. after earnings, the ceo said they would bounce back and decrease reliance on alibaba melissa. >>> earnings movers. we are joipdned by tiffany mcgee andandrew sluman from morgan stanley. good to have you both. tiffany, i don't know if you care about amc certainly this is signaling the fact and it is paid attention to by quote/unquote inn substitutions on wall street does this signal a change of retail investors investing and how they perceive risk in markets? >> that's a great question, melissa. good morning i don't know if it signals a change in how retail investors are analyzing stocks like this. i hope not we talk on cnbc about fundamental analysis and technical analysis i'm old school wall street when we look at stocks, a lot of

meantime, softbank has reported a sharp drop in profits at its vision fun.oshi son's fund had enjoyed a strong run thanks to tech stocks, but quarterly results for the company show the value of investments and other holdings have declined. however, two chinese companies were the main reason that softbank stay profitable. facebook has removed two separate networks of accounts to crackdown on inauthentic behavior. one network originated in myanmar and was used to spread divisive content about political issues, and the second from russia attempted to recruit real internet influencers to spread misinformation about covid vaccines. that network included 243 instagram accounts with more than 24,000 followers. coming up, travel in the time of covid. where can you go and which destinations are still sealed off as the delta variant takes over? we will tell you next. this is bloomberg. ♪ emily: this week, ebay and another company with quarter results wednesday. thursday, disney, airbnb, and sofi. airbnb will be interesting to watch as other companies gave optimistic o

>> we will see softbank would like to monetize the asset, there's no doubt. i would need to do -- make more calls. what are you shaking your head like that for? [ bell ringing ] >> i think that you should make more calls. >> okay. if but the problem is getting people to call you back. >> well, you've got to give them your number. >> i've had a hard time with that. >> the reason i'm looking at softbank is we have not found out why they needed to dump so furiously -- >> you've had this question f a few days. >> someone must have said, you know what, maybe we need a cash cushion. >> yeah, there are still some questions about the sale of the 45 million shares of uber. obviously we know softbank has been hard by their position, and didi and olalibaba. they would tell you the value of softbank versus the value of our assets, we're still well below you're right, they also have t-mobile shares, don't forget. and that is something else that at some point they could monetize they have that agreement with deutschetel to sell a good amount at a specified price and others

the series f round was left by softbank's vision round two and will help them enter new markets. official partner of the lpga and pga tour it has raised funds from athletes like patrick mahomes, kevin durant and rory mcilroy and justin thomas. here now for a first on cnbc interview is whoop founder and ceo. will, congratulations and thanks for joining us. >> thank you thanks for having me. >> how do you get people to wear whoop when their apple watch does so much health tracking already? >> well, the focus for whop is really on unlocking huma performance. the product itself is a small sensor it's designed to continuously measure everything about strain, recovery and sleep i think our focus on behavior change and health monitoring has been a differentiator for us in the market you know, there's a lot of products or wearables, i should say, that have so many features that you wonder what specifically they're actually set out to do. whereas to whoop, it's clear what we have set out to do, to be the best health monitoring on the market fort naturally whoop members around the world ha

. >>> disney, coinbase, softbank all set to report earnings next week which names are the best bets aheadsults our traders will discuss that next >>> plus, as we head to break, check out wayfair. shares down around 4% after at least ten brokers cut their price targets on the online furniture retailer "power lunch" will be right back municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-376-4376. we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income...are federally tax-free... and have historica

softbank believes the business is highly undervalued.s a rare quarterly earnings miss for general motors area the automaker was hurt by the $800 million cost of the recall for the chevy bolt factory fires. the company is still dealing with the semiconductor shortage. >> right now, the team is working on it, but weekly, we are looking at making sure we understand the semiconductor situation, and we are allocating chips to our highest demand to take care of our customers, and also the vehicles that are in plants that are capacity constrained. it is especially are full-size trucks and suvs, so you will see us continue to do that. ritika: gm has raised its guidance for the full year. that is your latest business flash. guy: thank you very much, indeed after last week's disappointing trading debut, robinhood shares now rallying hard. it is trading well above its ipo price. that was $38. berg senior stocks editor dave wilson is looking at what is really quite the comeback. dave: no question. this is a stock that fell 8.4% on its first day of t

then the fish to eat the smaller fish and there's only one left and softbank had its own there. >> it's as i mentioned i've covid the journal several years ago allav of a sudden saudi arabia decided to get the mark m on the international work, it was going to be thees biggest ipo ever so around that time, there is this huge amount of capitol saudi arabia wanted outside of it borders so basically everyone wanted this capitol and it turned out saudi arabia, it resulted in $40 billion checks and quickly a large portion of that went into the pocket put directly and it. the whole macro economic backdrop as you mentioned, it was money that wasn't there to put into a startup like before. obviously it was torched but i proliferation of private capitol. >> one of the things we learn in writing the book, which reported on beforehand and we see scenes and they seemed like a caricature words like did adam really just raise $4 billion in 12 minutes? if they really just raise $45 billion in 45 minutes ? it seems like the answer is yes, this is as silly as it seems on the surface that explains why it

stuart: softbank selling my microsoft.heck in frequently, 708, down i understand they got some bad news out of china. susan: disappointing tesla deliveries in july. they only delivered 8600 china made cars in the month and it's down almost 70% from june, so that's a big. also, if you think about what happened in july itself, deliveries and car sales are different because when you deliver that's when you actually get the market down pick tesla's close to 33,000 but the problem with the deliveries, all those local chinese rivals have caught up. x-delivered almost the same number of cars in july but it looks like tesla's lead has evaporated. stuart: if their lead has evaporated, not good news for tesla appeared. up nearly 20%, morgan stanley says it's a winner and-- in the electric vehicle space and it could rise more than 160% with a target price of $40 a share appeared how about casper sleep. i understand they are the mattress people delivering in a box. susan: right to consumers. stuart: strong growth in retail and direct

softbank, which holds one third of equity and serves as the senior secured lender would retain controle company through that bankruptcy filing. we will continue to follow this developing story. coming up, robinhood catching the meme stock spotlight with the surge in trading post ipo. we will look at what is driving the latest frenzy, next. this is bloomberg. ♪ emily: shares of trading at robinhood searching for a second day as investors piled in, halting at least three times for volatility. pairing those gains to a mere 50% up, bringing its two-day gain to 87%. this is after a lukewarm reception from day traders to the ipo last week. joining us is ed ludlow. is robinhood officially a meme stock now? adco -- ed: it's evidence at retail traders are driving it, but it's complicated. if you think about gamestop, a lot of that was in the options market. we have some posts on it. emily: you have been scouring the reddit boards. ed: they are regularly siding the robinhood app, but they are reminding us that in some cases they are selling amc and gamestop to buy this. maybe robinhood will ban

softbank had its own macro stuff there. >> i have covered ipos for the journal.eral years ago all of the sudden mark on the international world with the biggest ipo ever is a huge amount of capitol saudi arabia one to invest outside of its border. basically everyone wanted to court this capitol. found out in this meeting saudi arabia resulted in $40 billion check. and very quickly for large portion of that went into the pocket of -- holton macro economic backdrop as you mentioned and laid out, it is kinda fascinating. put into a start up like new york before. it was torched. moses slower was the liberation of capitol. >> things we learned about, what did adam really just raise $4 billion in 12 minutes and did it really raise $45 billion in 45 minutes silly as it seemed on the surface tell about impulse was not about numbers. do the numbers later, people would say a multiple different funding levels you had analysts insubordinate saying no, this is a bad idea. the instant principal and the check would get written. >> you see parallels about money evaluation the wa

softbank is helping boost the session. traders will be waiting on a five-year option.ut the board, turning to south korea, we are awaiting details of the government meeting on the 2022 budget which local media estimates will top this year's spending plan. the korean won, we are seeing again and ground -- we are seeing it gain inground. we are seeing korean stocks rise more than 1%. this after the benchmark snapped a two day drug. we are keeping an eye on vaccine makers. amid the vaccine optimism that has parked up this week. and said, we have -- in said nick, you have the aussie dollar holding the biggest gain since april. cb a questioning we could see a drop below 74, given the prospect of rba delaying the taper plans alongside slowing chinese growth, which has a citigroup bidding against the yuan. you have the offshore remnant beholding below 68 this tuesday. there are signs of rebounding demand which has goldman bullish on micro factors like deficits which should trump headwinds. little change here after the best session this november for crude prices. they are seei

then you have underperformers in the likes of softbank.bit towards the more broader index in japan. haidi: japanese equities have kind of been one of the favorites according to people we speak to. apac as a whole has been less behind, though. david: completely. in fact even within asia, japan has been left behind. the likes of where you are enough to really a. korea -- you are in australia. korea. this is a key point for 2021, that positive correlation that we usually see in asia to the s&p 500, that has basically disappeared. these two have basically broken up. when you wake up, one of the first things to look at, what are u.s. futures doing. that is much less of an indicator right now in terms of direction for asian markets. i'm guessing this also has to do with what is happening in hong kong and china. shery: thanks for that. we're also getting the kospi open. south korea, after seeing more losses, we're talking about the longest losing streak since march of 2020. six consecutive sessions of losses. we continue to see the downside, down

and then softbank, that's what the metro stuff is there. >> i covered ipos for the journal and several years ago all of a sudden saudi arabia did some work on the international world by listing this oil company that would be the biggest ipo ever at least in new york so around that time there's this amount of capital that they wanted to invest outside of its borders. so basically everyone wanted to support this capital and it turned out in this meeting they had with nds saudi arabia which resulted in $40 billion checks. and very quickly, a large portion of that went into the pockets of wework which was directly in it. it's a whole macroeconomic backdrop as you mentioned and laid out, just it's fascinating and there was money that wasn't there puts into a startup like wework before. obviously it was just torched but it was just this proliferation of private capital. >> one of the things we learned in writing the book , we see these themes and they seem like the caricature where it's like it adamreally just create $4 billion in 12 minutes ? did masa raise $45 billion and 45minutes and the

sources tell bloomberg softbank is offering $2.2 billion of its stake in doordash in a block trade.ly tripled to $14 billion last quarter and it comes after doordash signaled declines in new customers. johnson & johnson has named -- as its new ceo. he will be taking up the role on january 3 after serving as the vice chairman since 2018. he will also have a seat on the board. he replaces alex gorsky, who said he was stepping aside due to family reasons. shery: let's get a quick check of the markets. kiwi stocks trading like this. they are down about .2%. this of course as we continue to watch the rbnz. governor are coming on the show and talking about their decision to keep wrench marks on hold but also bringing forecasts for higher interest rates. sydney futures at the moment looking higher. this on the back of the longest losing streak since october. nikkei futures unchanged. we saw a slight gain on the s&p 500 in the new york session. coming up in the next hour, we speak to emily wise of state street for her market strategy plus bloomberg equality, focusing on the future of women

nvidia says it is still confident the deal with softbank will get done, but it is pending regulatoryval. nvidia acknowledged that talks of global regulators are taking longer than expected. they also acknowledged the grievances with licensees including intel and qualcomm that are competitors of nvidia. we know chips for crypto mining have used it the bottom line in the top quarter and had an effect on the last quarter. manus: the latest update on nvidia and its bid to buy arm. president biden has said he will withdraw all americans from afghanistan even if it takes longer than the original august 31 deadline. >> the idea that there is somehow an idea to have gotten out without chaos -- i don't know how that happens. dani: the president defended his decision to leave kabul as the taliban advanced. >> that was a failure of the government leadership and also political failure of the international allies. this is a failure of the peace process that changed to a war process. manus: the blame game ratchets a little bit higher. let's get to our reporter. donnie says he is in talks about a r

it is backed by softbank. the list include arrays of $1 billion and evaluation of $8 billion.e as soon as october. billionaire john paulson - -who bet against the u.s. harking housing market is turning against crypto. in an exclusive interview, the hedge fund manager said why he thinks digital currencies are worthless. >> i would say that cryptocurrencies are a bubble. i would describe cryptocurrencies as a limited supply of nothing. haidi: he is increasing the concern about rising prices. we did not quiet get what his next -- quite get what his next big bet could be, matching his latest success. it does not seem to be on crypto. kathleen: it could be generational. mary merry soccer, tennis open gym said she got interested in come to currency because of her twitter feed. daybreak asia is next. this is bloomberg. ♪ introducing xfinity rewards. our very own way of thanking you just for being with us. enjoy rewards like movie night specials. xfinity mobile benefits. ...and exclusive experiences, like the chance to win tickets to see watch what happens live. hey! it's me. the long

tomorrow softbank out with numbers. iag intercontinental out with numbers as well.ings also to watch out for. we are coming to the end of the reporting season. nevertheless have her lifting -- nevertheless heavy lifting still to be done. alix: also democratic senators ron wyden and republican cynthia loomis have said there is a tax on crypto amendment. definitely positive momentum. balance of power is up next. guy and i are headed to the cable on bloomberg dab digital radio. this is bloomberg. ♪ so...i know you and george were struggling with the possibility of having to move. how's that going? well we found a way to make bathing safer with a kohler walk-in bath. it has the lowest step-in of any bath. it has handrails, a wide door, and textured surfaces. so it gives you peace of mind. and you would love the heated backrest -and the whirlpool jets -and the bubblemassage. and it was installed quickly and conveniently by a kohler-certified installer. a kohler-authorized dealer walked us through every step in the process and made us feel completely comfortable in our ho

shery: let's turn to a financial services startup raising $350 million in funding from softbank and tencentalues the company at almost $2.5 billion. it plans to use the funds to double its workforce by next year and spur growth plans in mexico. let's discuss its business outlook with our guest. thank you so much for joining us today. really only after a few years of launching your startup, you caught the attention of many global players. not only asian giants but also george soros. what do you think they see intercompany and in the sector you operate in? >> i think they see a great debt in latin america which is over 50% of adults don't have access to financial so they see the opportunity to provide through technology much better, much more conclusive, and much more transparent financial services. that is not availab region, and we have seen a flurry of innovation so what we are trying to do is give everyone an account with which to manage their finances. that could deepen financial integration as well as financial inclusion in the region. >> where next to? >> we have not launched but we ar

but, it consortium led by softbank backed could still raise its offer. reports that apollo remains in talks to own the countered by, but could alternatively target sainsbury a lot of moving parts there. the bid seems to be contingent with what happens with morrisons. the point is the interest is there and private equity have been circling around many of the uk retailers we're seeing a very strong reaction up 12 percentage points >>> well, another company we've been watching very closely, two of them actually, vonnovia has launched an improved offer for 19 billion euros this would be the largest-ever deal in european real estate a one year row increase over the last month's failed bid. the company said this offer is, quote, the best and the final offer. so let's see about that. this is the share price reaction today. deutsche weaker, .3 of a percentage point and vonovia up. the trend has been pretty positive the stock up 14 percentage points. >>> and finally, looking to expand into china, legal general. the uk's largest pension provider is attracted to th

them an offer that they couldn't refuse, an institutional investor i mean, i expected this from softbank how fierce competition is to invest in these hot start-ups and perhaps how frothy the market is >> yeah, again, i'm going out on limb here but i almost wonder if institutions are saying we're trying to identify the next meme stock ahead of time to benefit from that liquidity. and reddit would seem such an obvious one. but let's move along and talk -- >> here's my free revenue idea for reddit they should just start charging buzzfeed for access to the comments every third buzzfeed article is just a reddit roundup. just start charging them the money. >> b to b, always the best way to go. perhaps the next meme stock s. is tesla today carson blocks of bets against it are gone. the short seller didn't mince words criticizing musk in his first shareholder letter which dealbook saw he said his bets against the carmaker it's over they've been quote sent to heaven nilay, i'll sort of ask for your take on this one as well because what he's basically acknowledging here with tesla, and this is ver

just left me short there meantime, did you hear this, it has been revealed softbank's north star unites of four tech giants during the first quarter. who? facebook, microsoft, alphabet and netflix. today's "countdown" closer disagrees with soft bank's head son. he said one name you're right on the others no way. he joins me now. which one do you agree with him on and which one do you disagree? >> well i think in that respect we've probably agree on tesla. that is from the perspective one of the strategies that we run which looks to exclude companies we think are likely to underperform. that was probably the one that garnered the most attention. but in terms of the other big names we're still favorable on the largest tech names, it is really netflix and tesla, the big ones for us. liz: okay. so he didn't, we don't know anything about him selling tesla. we know he got rid of netflix. you don't like netflix. how can you not like netflix? what is wrong with it? >> it is one of the big beneficiaries of the pandemic. performed superbly while everybody was sitting at home watching tv but lik

whether growth investors like softbank long investors like fidelity or investors like anderson horowitz from some of the best investors in the world as well as strategic partners who ultimately put the money where this their mouth is is a great thing. it's healthier we negotiate with a deal with the eqrx megahertz team to put money in at fair value, right? it's a euphoric market where that rerates the next day up 80% like it did on our first deal. now, where ultimately we should be judged is where does this company trade one, three, five years from now and by putting as eli said earlier i think the company will have close to $2 billion with the 1.8 billion we put in plus the 300 million on the balance sheet. by putting the $2 billion on the balance sheet they can innovate and go bigger and faster what eqrx is set up to do is something we will look back on and say this is inevitable why did it take so long. what that is is to take all the innovation occurring in drug development and let's it flow through to the patient by lowering drug prices simply put what it does is they develop the s

>> a block trade from softbank, softbank lost $4 billion on their china uber didi listing, they are trying dash, it suppresses the price. stuart: i would imagine they have problems. still ahead tammy bruce, kayleigh mcenany, nigel farage, second hour of varney coming up for you. ♪♪ ♪♪ [engine revving] [car horn and collisions] [tires squealing] just think, he'll be driving for real soon. every new chevy equinox comes standard . . municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-763-2763. we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the cou

softbank, putting new deals on hold after quarterly profits struck 40%.1 billion-dollar vision fund to names like alibaba and didi and 3 major airlines will not require employers to get vaccinated, american, delta and southwest all saying they are encouraging workers to get the shot but not issue a mandate. the move puts them at odds with united which has given employees until until october 25th to get vaccinated, maria. maria: all right, lauren. thank you so much. as we have been reporting this morning governor andrew cuomo resigned yesterday following the scathing record that he sexually harassed 11 women, something the governor continues to deny. cuomo continued to deny the allegations, watch. >> the reports that i sexually harassed 11 women, that was the headline people heard and saw and reacted to. the reaction was outrage, however, it was also false. i'd never crossed the line with anyone, but i didn't realize the extent to which the line has been redrawn. maria: the governor is still facing criminal investigations in several new york counties as we

nvidia says it is still confident the deal with softbank will get done, but it is pending regulatorydged that those talks of global regulators, including china, the european union and the u.k., are taking longer than expected. they acknowledged the grievances of some of arm's licensees, including intel and qualcomm, that our competitors of nvidia. we know chips for crypto mining has boosted the top line in the prior quarter and had an impact in this quarter. nvidia really tempered expectations for how many chips they will sell for crypto mining going from. ed ludlow, bloomberg news, san francisco. francine: ed on the latest on nvidia and its deal to buy arm. robinhood slumped in after hours trading after they warm seasonal headwinds will result in lower third-quarter revenue. joining us now is our cross as reporter in hong kong. what do these latest results tell us about retail investors now? >> the latest earnings show that robinhood put itself on the map with so-called meme stock trading, but the focus has started to shift to cryptocurrencies. the results bear that out, where we se