coming up, i softbank is selling -- why i softbank is selling millions of dollars in debt.aidi: softbank is selling a quarter of we work holdings. they officially -- they originally shared -- they originally provided financing. why are they selling the debt now? how well received will this be? how will they sell it? >> it is another chapter in the tumultuous relationship between softbank and we work. they helped to bail out we work after the first attempt to go public, which went horribly wrong. they are looking to sell $550 million in debt. the yield will be 10%. so quite risky at this point. as analysts have told us, it does not really look like a vote of confidence that softbank is selling this debt in $.86 on the dollar for that. shery: is that reasonable, given that the company is still not profitable when omicron is hitting the business? >> softbank says they see this as a vote of confidence and they feel they need to diversify the investor base beyond the money they have put in, which has been very substantial. they point to several metrics that show improvement here

but softbank goes as the tech sector goes.ng-term future and investments and so on. it had the desired effect, but until messiah station completes the arm sale, he can't really do much more other than just hope that the tech sector recovers and provides a little bit more regulatory certainty. rishaad: good stuff, thank you. let's have another company here that is having a torrid time, alibaba. it is reshuffling the leaders of its commerce changes. yvonne: these are the most notable changes. for more we are joined by our asian tech editor. was this transition something that was expected? >> i think the timing was a surprise. it has only been six months since alibaba emerged from the antitrust investigation. replacing their top leaders right now sends a strong message. the deputy chief financial officer just over a year ago now has moved. it is surprising that this is the replacement. but alibaba faces a lot of challenges in bringing -- and bringing fresh blood could show that the companies committed to tackling the challenges.

softbank extending losses. down by just about 9%.ollowing the most since march 2020. trading around the lowest since june 2020. a barrage of pretty difficult portfolio and news of the delisting of didi five months after the delisting -- after the u.s. listing. we have also had other bad news when it comes to the fdc suing to block softbank sales. when it comes to the other losers around the region, pretty significant downside when it comes to a lot of crypto exposed companies trading in korea and japan after the excel of. ray dalio takes to twitter to explain his controversial remarks on china should if he did not mean to downplay human rights issues. we have more next. this is bloomberg. ♪ haidi: a quick check of the latest headlines. some of toshiba's biggest shareholders are planning to pressure the board to revise talks on a buyout. mr. say toshiba is overlooking bids for company. it includes two valuations. the shareholders are planning to vote against plans -- chinese tesla supplier says it is working with the electric car to t

we at softbank support them to scale up locally and globally.d strong corporate governance, and i think they really are picking up, but this pipeline is one of the strongest pipelines in the world. haslinda: yet, they are unable to move some global blockages. is this a lost opportunity? >> 18 months of pandemic may have delayed some, but already policy is being relayed that they have a choice. they can do it according to the nature of the business and the nature of the value which we expect, so i believe in the next 12 to 18 months many more, not only softbank's portfolio, but many companies in israel -- in india as well as the u.s. rishaad: are regulators doing enough to encourage all this in your view? of course, india is renowned for redtape. >> i believe the p.m. himself has led the indian revolution. that's why there's a huge amount of support in the government. for government to keep pace with technology is not easy, but they are still trying their best to keep pace with every technology, if it's personal data, nonpersonal data, ridesharin

apollo plans to land -- land $4 billion softbank. financing will be backed by softbank's $40 billion vision fund. interest is expected to be in the mid single digits. the deal is not yet final. moody has upgraded apple to aaa. apple is on track for its most lucrative quarter to date with revenue expected to be around $118 billion. it joins microsoft and j&j as the only u.s. companies on the s&p with the highest possible credit score. up next, and epidemiologist joins us to talk about australia's virus response. this is deja vu moment. >> our guest there on omicron concerns heading into the new year. there is said to be a meeting at the national cabinet today to talk about the omicron variant. a professor of epidemiology joins us now. it stood out to me the prime minister singh on national television that comparing the mask mandate as saying you don't need to tell -- you don't need to mandate people to wear sunscreen and hat in the summer. is that a fair comparison? >> we are still transitioning and what's important is that we have cl

softbank will take $550 million of debt.es will be priced around $.85 on a dollar with a yield under 10%. 2.2 billion dollars from softbank after its ipo failed in 2019. it says it is a sign of confidence for the company that is unprofitable. other bonds declined on the news. citigroup is said to have consumer assets in several asian markets. the u.s. lender has picked leading buyers in thailand, indonesia, malaysia, and china, while sales of india and taiwan businesses may take longer. it has considered a sale of retail assets in asia as it focuses on unprofitable units like investment banking. david: let's look at markets. after a big move in treasury yields, we are coming up ever so slightly. we focus on 30 year yields. where do we break above 1.8%? that seems a key question for macro traders at this point, given the expectations. let's have a look at oil and the latest assets. we had the loonie in here. .5% to the upside so following a .5% jump in oil prices. we are coming off ever so slightly in the breakdown. since we

lend to softbank.we deal with another outbreak, some are saying we need to invest in better public health. one founder and ceo has some thoughts on the data for the institutions in the u.s.. this is bloomberg. ♪ caroline: well hope sooner than later to look beyond the pandemic. the u.s. system will have to take a look at itself. the u.s. governments cdc recently announced it had been over counting the number of americans who received at least one dose of the vaccine and the date it was far off from what states have been reporting. there are millions more unvaccinated than we originally thought. here is the founder and ceo of kinzer. you focused your attention on covid. you have been flagging for a while now that the cdc has lagged far bond -- far behind many other data inputs. >> if we analyze the cdc as a university and its action throughout its history makes sense. if we analyze it as our country and the world public health response agency, it is sadly falling very short. one of the issues is data. t

digital bank nu holdings has trimmed the valuation of its ipo while also attracting the interest of softbank. its proposed price range of $8 to $9 per share values the warren buffett backed start up at almost $42 billion. nubank plans to list class a shares on the new york stock exchange, while also offering resilient depository receipts on the sÃo paulo. the u.k. antitrust watchdog has ordered meta platforms to sell giphy, marking the first time a global regulator has forced big tech to unwind a completed deal. facebook's parent paid $350 million for the gif search engine last year, raising concerns from regulators. they say the deal reduces competition between social media platforms and are forcing a divestment. meta says it is contemplating all actions. i'm sure you got a giphy from me before. dani: i'm sure i have. i do not doubt that at at all. let's talk about one of the main stories today, and it's the end of the road for calling inflation transitory. jerome powell told congress it is a good time to retire the word and suggested the fed could end its asset purchases earlier than plann

arm is owned by softbank and licenses its technology to lots of companies, none of which it competes with. an official watchdog says the u.k. failed to put measures in place to protect taxpayers exposed to nearly 5 billion pounds of fraudulent is in his loans. it is said the government -- fraudulent business loans. it is said the government program was designed to lend quickly with limited verification and no credit checks. the report says changes came too late to prevent high-level fraud. global news 24 hours a day, powered by more than 20 700 journalists and analysts in more than 120 countries, this is bloomberg. dani: thank you so much. coming up, it is jobs day. traders are on the lookout for whether the data provides any clues on the early taper from the fed. this is bloomberg. ♪ [inaudible] dani: welcome back to bloomberg daybreak: europe. i'm dani burger in london. it is not just friday, it is jobs day, and the futures could be crucial in the fed deciding to accelerate the wind down of the emergency pandemic stimulus. joining us is a: be a threat needle global investment equit

softbank ceo executive says they are in talks to lead the company.ng on some of the company's biggest deals. they will take an advisory role. managing partners have been in charge since march of last year. >> and we have seen this refocus from softbank when it comes to investments that the vision fund is making. they were always focused on these startups. but now we are seeing them focus their energies even in japan. a member, japan has never been that attractive when it comes to venture capital. but now there is an investment in japanese startups for the first time. we see more money flowing into the japanese venture capital space. more than $3 billion raised in the first six months of this year alone. >> and this coming as we continue to monitor the fallout from not just the china regulatory crackdown among various sectors but an increase in the geopolitical pace, really threatening more uncertainty and downside. we have china's biggest chipmaker as well as continue downside continuing to think on the concerns that we could see u.s. investment and

softbank had hoped to offload the company arm to nvidia, but arm holds a special place where it is atral company within the chip market that many companies use including qualcomm, intel, and advanced micro, so it's neutrality was very important to its success, and antitrust officials say the acquisition by nvidia, which competes with many of those customers, would jeopardize it's neutrality. rishaad: it is bringing also security concerns that this is another place where we could see a blockage. arm is hugely important in the security industry. >> that's exec we're right. u.k. officials have had concerns over security as well. i think arm's customers had raised concerns about their ability to use arm's technology going forward if it was effectively controlled by one of their competitors, and they have and very vocal about those concerns in the united states and europe in particular, so it looks like the chances are decreasing, and the question is -- what will happen with softbank, and what will they do with this company going forward? david: that is the next chapter to this. a very br

uber is the second largest investor after softbank.i has already lost over 62% of its stock value since june after chinese authorities launched an investigation into didi's data security practices you also have the united states ordering foreign firms to open their books to auditors, pushing didi to delist from the new york stock exchange and pursue a listing in hong kong when they get back to me in time for this hit the regulatory hurdles continue weighing on chinese listed firms. over the weekend chinese regulators released proposed rules for domestic firms if they want to list overseas. that means a listing could be stopped completely if deemed a threat to national security, which doesn't bode well for the entire sector, especially if you're an investor in a chinese listed firm here in the united states frank? >> kristina, appreciate it nadine, i know you're big on international stocks is this one of the stocks that's on your radar? >> you know, we're not investors in didi but we do invest in china. it's been tough for them, they're

ftc also suing to block softbank's sale of arms to nvidia.: a quick clarification from earlier, bloomberg said the cofounder of the chipmaker but in fact he's the cofounder of acorn computer group. breaking news coming from a report for the pboc. david: the report is from the securities times citing their own sources, saying that the pboc will be reducing the relenting rate to support the rural sector, and the timing is that cuts will be affected from december 7. we are looking at a quarter of a percentage point cut to the relenting rate for the pboc according to the securities times. yvonne: and they were saying that the rrr cut may not have passed through to some of these smes, so they are having additional measures to pass through to that part of the economy. certainly more signs of easing. rishaad: what do we have coming up? david: welab tells us why they announced the big deal and why the fintech firm is buying a bank in indonesia. that is next. this is bloomberg. ♪ yvonne: hong kong fintech company welab is buying a controlling spit --

sources are telling bloomberg that apollo is planning to lend around $4 billion to softbank. the financing will be backed by holdings of vision fund 2, which is valued around $40 billion. -- valued at around $40 billion. we are told the terms are not yet final and both sides of the deal are declining to comment. wells fargo has postponed its return to office plans indefinitely. it comes amid the worldwide surge in covid cases linked to the omicron variant. according to a statement, employees will be briefed on the bank's plans in 2022. it had originally postponed in -- postponed a november 1 return date to january 20. rio tinto has agreed to buy a lithium mine in argentina for $125 million. -- a lithium mine in argentina for $825 million. it comes as the world's second-biggest miner accelerates its push into battery materials. the firm is looking to expand in the fields of so-called future facing commodities. that includes lithium, copper and even fertilizers. the company with the biggest market cap now also has the highest credit score. apple's long-term rating was upgraded

softbank senior executive is said to be in talks to leave the company.ed in some of the company's biggest fields and bloomberg land he is in discussion today can advisory role to focus on his own fund. seven managing partners have left since march of last year. rishaad: let's quickly check in with lee's markets as we head for the hong kong lunch rick. overall, most stocks are not moving to the upside. there is a charge for them, being led where they need k2 to five. we saw data earlier today, trade data saying that experts were on the way up. imports were a big beat as well. looking also at the hang seng. what we have at the moment are tech stocks adding drug. the hs tech index down for five straight days, all down to perhaps looming sanctions for some of these companies listed in the u.s.. don't forget, there are lots of interest rate decisions, not the least, turkey after the president sacked two deputy finance ministers and replaced them, just a couple of weeks after he replaced the finance minister himself. there you go. ♪ it's another day. and anyth

softbank isle soller of arm, obviously. it was like $308 billion remember when softbank owned 5% of nvidia. masa, mr. long, long term bought it december 1st of 2016, sold it september 28th, 2018 5% of nvidia now is over $40 billion. they made money. >> a lot of people -- >> i do come back to that number thinking they're selling arm to think, but if he just held on to his nvidia stake, he would have a $40 billion -- >> i was with a group of cfos, almost no one knows how big this company is they're line, nvidia >> they don't realize it's the seventh largest -- >> they don't know nvidia. they think nvidia is my -- it's incredible that jensen has put together this company that i think will rule the metaverse. that's my own view they're stick ig totally to the idea this deal will get done jensen that is ha avatar >> here we go again with the fast-food ordering i'm still trying to figure it out. >> you want to paint with me did you hear that picasso can teach you to paint in the metaverse? >> first of all, nobody can teach me to

new holdings has trimmed the valuation of its ipo while also attracting the interest of softbank. his proposed price of eight dollars to $9 billion -- it plans to lift class a shares on the new york stock exchange while also offering resilient depository receipts. the uk's antitrust watchdog has -- marking the first time a global regulator has forced big tech to unwind a completed deal. facebook's parent played $350 million for the search engine last year, raising concerns from british regulators. they now say the deal reduces competition between social media platforms. meta says it is considering all options. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. dani: thanks. coming up, end of the road. jay powell tells congress it is probably a good time to retire the word transitory as inflation proves more powerful and persistent than expected. plus, s&p global rating releases its macroeconomic and credit outlook for 2022, everything from growth to china's ongoing crackdown. we will take a look at that sto

arm is owned by softbank group and licenses technology to all the major chipmakers, including nvidia's competitors. coming up, we are joined by josh silverman, ceo of etsy. he will talk about the meeting with president biden to discuss supply chain issues, and the hottest items selling on the online marketplace. ♪ emily: etsy, the global online marketplace, is hot off the heels of the week's busiest shopping week. shares rose leading up to black friday, but have since retreated, down over 50% after the last seven days. josh silverman shared his take on why traditional retailers are struggling to navigate supply chains, and why he things etsy is thriving despite it. i will bring in etsy ceo josh silverman himself. you are coming off a really busy few days, black friday through cyber monday. talk about the trends you saw and how it came off. josh: the team spends all year getting ready for this period, so it is a really exciting period for us, and we are really pleased. first of all, we are not seeing a rise in out of stocks. we are seeing that in lots of places. etsy right now, 50% of s

based arm is owned by softbank and licenses its technology to hundreds of companies, none of which it competes with. shell has pulled out of a controversial oil project in the north sea. the company says economic taper investments in the u.k. oilfield is not strong enough. environmental groups have criticized the plan, saying they are at odds with u.k. solar reaching carbon neutrality by 2050. and that your bloomberg business flash. dani? dani: to markets, where european equities are opening higher following gains in the asia stock market as traders await a key job market that could catalyze a hawkish move from the fed. we saw crude advance after opec-plus were preceded with an output height, but left rooms for adjustments. we have tech in focus after didi began the process to delist from the u.s. let's try to digest and work through that. joining us now is justina lee, our reporter. a busy and to a busy week, but starting up with jobs day, what does this look like in the key bit of data? justina: right now, showing expectations for a slight acceleration and slight tick down in on a p

that is a softbank-backed service. time for the bloomberg business flash.anley is making sweeping changes to its employee benefits in the midst of an intense competition for talent. the firm is increasing parental leave, and will also allow some employees to buy its stock at a 10% discount. u.s. mortgage rates ticked up slightly this week, reaching the highest level since late october. the average for a 30 year loan was a little over 3.1%. borrowing costs are expected to climb further as the federal reserve steps up its effort to tame inflation. u.s. housing starts rose more than forecast in november, two and eight-month high. residential starts were up 11.8% last month to an annualized rate of just under $1.7 million. that means builders could be making more headway on backlogs. there was a solid advance in u.s. factory output last week as well. the increase was .7%, suggesting and easing in capacity constraints is helping manufacturers ramp up much-needed production. meanwhile, the former ceo of mcdonald's will return $105 million in cash and stock awards

it is continue to be a rough environment for these stocks guys, i do want to point out softbank a companyt i covered closely and it often does get hit hard amid these times of growth volatility because of the outsized bets shares in tokyo down more than 8% last night, down over 20% over the last week amid a slew of bad news for portfolio companies we have been tracking the last few weeks they will delist from the nysc we had alibaba's announced reorganization last night the growing unlikeliness of that nvidia arm deal. we've been here before, jon, but it is a reminder it's not just cathy wood and arc that made outsized bets on tech growth and that get hit hard in these kinds of environments. >> yeah. hit hard, but i mean, you know me, these are not tough times for so many of these names yes, they're down for the month. some are down for the year, but after these unbelievable sort of rallies and a lot are seeing really strong sales in demand overall, i mean, take snowflake last week we had frank slootman on that stock spiked after earnings and grew top line 110% now, it's not even positive

at one point it lost nearly a fifth of its value >>> and troubles for softbank after a spate of basst now. >>> good morn, welcome back to "squawk box" here live from the nasdaq marketsite. i warned you guys, does monday not come fast, compared to friday was that not unbelievable? >> time flies when you're having fun. >> i said, enjoy the anticipation of the weekend, because it's basically already monday on friday. >> then this should be your favorite day of the week >> right, right. >> friday is coming. >> i'm trying to figure it out i'm trying to be happy all the time we all need to try that. i'm joe kernen along with becky quick and andrew ross-sorkin >>> the nasdaq, though, makes me sad, down 57 points. i'll go ahead over it. treasury yields just don't make me happy or cede, just confused. >> so figure that one out as we're tightening, spoicedly. in the meantime, let's also ge a check on crypto. bitcoin hovering around the flat line this morning. that comes after a pretty wild weekend during this the cryptocurrency plunged as much as 17% in 24 hours joe said he sauce it 42 and cha

all of these acquisitions of arm, carl, never quite made a lot of sense to me the softbank thing i mean, arm is a platform company and in my mind, none of these acquisitions has done anything to make arm any better. so, you know, it's -- nvidia still going to make its case and we'll see how the regulatory environment plays out. but, you know, strange in a way for me to see this going and qualcomm still, qualcomm still fighting nvidia on this one. >> yes, yep. there's the uk and now the ftc, julia. and i ink think in time we've sn the analyst community throw in the towel and say whether it's valuation or strategic and make less and less sense as we go on. today citi takes it from 30% down to 5. >> yeah, look, i think the analysts did not expect this deal to go through i do think there is still a question of whether nvidia will fight it and may just result in legal fees and this whole thing dragging out and we'll see what happens there. but i don't think analysts think it needs to happen at this point, carl. >> let's dive into the software names that we mentioned earlier amid the broader

that is clearly one of the drivers that is helping softbank shares recover.ing that six-day slump on the first day of this week. dropping as much as 9% on tokyo -- in tokyo on monday. delisting dd from the u.s. and the ftc suing to block the sale of arm and nvidia as well. quite a few headwinds, on the up today. shery: we have chinese adrs getting that boost from policy may to boost the economy. the authorities are giving a double dose of growth boosting policy medicine for the economy. we are talking about cutting through rrr and easing property curves. we have more details on how -- on the ship the evergrande's restructure could take -- on the shape that evergrande's restructure could take. moving in tandem when it comes to supporting the economy. >> when two such powerful institutions move together at the same time, you know they are on a mission and they have a message to send. it is all about the weakness in the housing market. the liquidity crisis in real estate is really putting a big weight on the economy. i love this chart. if you look at the white l

it is owned by softbank group and licenses technology hundreds of companies. singapore is facing dramatic volatility and wholesale power prices as the nation grapples with the global energy crisis. wholesale electricity prices soared for falling again. traders say a drop in indonesian gas supply has caused tipping at some singapore powerplants while others have shut for unplanned finance. -- maintenance. global news 24 hours a day on air and on bloomberg quicktake. powered by more than 2700 journalists and analysts in over 120 countries. i'm vonnie quinn. this is bloomberg. haidi: still ahead, the former minister -- prime minister of new zealand is head of a panel for pandemic print -- preparedness. opec-plus surprises traders by sticking to its plan to hike supplies and escape clause. we take a look at the price impact. this is bloomberg. ♪ shery: we are awaiting another spacex launch. we're taking you live to cape canaveral space force station. this will be replacing ash lysing another batch of satellites into orbit above earth. this will be the 32nd -- dedi

softbank has backed this startup.e seen rapid growth by offering customers in that america the option to buy now and pay later. they say their value is now around $700 million and it has benefited from the pandemic's e-commerce boom. the residential surge after blackstone agreed to acquire it. the private equity giant will buy blue rock is the natural -- residential. blackstone is expanding its push into u.s. rental housing with the deal which gives it 30 multifamily properties with about 11,000 units. rishaad: let's get to the markets and check in on what was the main story. we have to the hang seng just above the gain there. looking at the nikkei as it went into lunch with a 2% gain. also looking at the commodity side of things, oil having a rough time of it of late. coming back into the session here as we saw these omicron concerns manifest. here we go. investment moves caused by the challenge for the joe biden economic agenda also playing out. it looks like it is not debt but merely stalled. there we go. yvonne: a

in japan, softbank leaving a $400 million investment in clarity to boost expansion.he cybersecurity firm has raised 635 million dollars. it year has agreed to buy a 12.5% stake in a new natural gas project in australia. the deal is valued at around $300 million. keep your eyes on the sky. one founder plans to hand out more cash from space as he heads to the international space station for a 12 day trip. south korea, the bank of korea will release its quarterly monetary policy report after a board meeting. we are watching a gopro building its first factory overseas in hungary and an $810 million deal. watch out for more moves in the aerospace stock. there's a death cross in a sign of slowing momentum. plenty more to come on daybreak asia. this is bloomberg. ♪ ♪ shery: live pictures of the house of representatives in the u.s. capital right now. this as we have now seen the u.s. house passing the bill to punish china over oppression. we are talking about this build a punish china over human rights. this would ban the imports of certain products from china's region where

softbank backed ride hailing company was the largest ever company to close a spac idea so far we have from 2508 in 2020 let's bring in jeff solomon. good to have you welcome. >> good to be here how are you? >> doing all right wondering what your sense of the market is, especially with regard to spacs after the huge deal today that sort of flopped and we have seen increasing regulatory pressure. what is the market for spacs at this point >> there's a lot of spacs are high profile this is the largest ever and all eyes on it there's many deals going on. right? record issuance with the first quarter and then slowdown looking at the accounting and a bunch of deals are done. over 100 in the past 6 months on the back end and i actually look at really how the health of the pipe market and whether or not financings are done in conjunction with them. they keep a reasonable amount of gate on the whole spac issue market so i think from my standpoint i think there will be ebbs and flows and things are pretty healthy. >> what about broader? tie it to ipos and m&a does it feel like the window is clo

continues to slip after announcing its plans to delist from the nyse, although rebounding today softbankthe secretary of the saleair fo in a moment. dow up 580. [crowd cheering] how's sanchez looking? with your qb's increased spin rate, any pass with a launch angle of at least 43 degrees puts sanchez in the endzone. you a data analyst or something? an investor in invesco qqq. a fund that gives you access to nasdaq-100 innovations like ai statistical analysis software. how am i gonna do? become an agent of innovation with invesco qqq. ♪♪ [coins clinking in jar] ♪ you can get it if you really want it, by jimmy cliff ♪ [suitcase closing] [gusts of wind] [ding] what's strong with me? i'm ready for anything. [gusts of wind] find out what's strong with you with fitbit charge 5 and daily readiness. i didn't have to shout out for help. because you didn't have another dvt. not today. one blood clot puts you at risk of having another, so we chose xarelto®, to help keep you protected. xarelto® is proven to treat and reduce the risk of dvt or pe blood clots from happening again. almost 98% of people

they want to be the next softbank.pital all of a sudden. tiger global, d1, others. if that changing the competitive landscape? it has to be. >> kit is making it better, and this is why. competition is a very good thing for us, it is a very good thing for our peers, because when there is competition we alone don't have to create the market. when a company receives many types of proposals, maybe a growth round proposal, they feel better about where they should be valued at work where they should trade. >> if software is as attractive as you say it is, and i believe you, and furthermore you have a track record to back it up, why hasn't and everybody -- why hasn't everybody figured this out? >> the lack of profitability in the industry overall keeps many players out. we started when we were very small, so you are doing small deals, but you can take the risk of learning operations and learning how to run partnerships when you are investing $50 million. are you ready to take that risk when you are investing $7 billion from t