softbank's arm has ditched the exchange as it focuses on the u.s. ipo.is bloomberg. ♪ >> i think there is a great conversation going on in the u.k. markets at this point. this is not about listing rules were listing regulation. there is an opportunity to implement reforms the government is looking at, that the capital markets industry task force is working on that will continue to make london that much more of a competitive listing destination and financial center. tom: that was david schwimmer speaking to dani burger earlier. the softbank arm is against selling shares on the london stock exchange for now. it is a blow to u.k. politicians were lobbying seriously ahead of its initial public offering. is this a surprise announcement? you have been in cambridge, the home of this tech giant in speaking to executives and former founders. does it come as a surprise? are they looking to the u.s.? >> it is not a surprise. the founder of softbank always pointed to the fact he wanted deep pockets and united states. it was british politicians who wanted the homegro

taking a look at softbank, the price is up 6%. links to alibaba.y are paying for them today. keep it right here. a lot more coming. this is "daybreak asia >> let's take a look at the latest -- what we are seeing when it comes to these highly anticipated cpi numbers out of australia. 6.8% is what we have got and that is softer than the 7.2% that was largely expected. we spoke with deanna. she said a reading of 6.9 percent would solidify this expectation that the reserve bank of australia next week would opt for a pause. we see headline cpi, the year on year number for february calling significantly from the 7.4% was signed january, coming at 6.8%. this gives the rba potentially a little bit more breathing space as we see political pressure to potentially opt for that pause as well. recent bouts of banking turmoil globally even though australian lenders are in a much different and a lot of people say on much more comfortable spot compared to u.s. and european lenders. take a look at the reaction when it comes to the aussie dollar, trading -- i of 67

we are tracking progress when it comes to softbank.p design unit arm is looking to raise $8 billion from the u.s.. thanks are pitching for a uh in of $70 billion. shery: and of course boj governor kuroda introduced negative rates and he will hold his last policy meeting this week before handing over the reins to ueda. let's bring our next guest he worked at the bank of japan for over three decades and has known both of them. joining us is professor at osaka university of economics. great to have you with us. should we start with the legacy of governor kuroda? what is he leaving behind >> i think that his reticence is shown in the fed market. i think -- them market and the boj has sent a strong message as a commitment evidenced by the money and also he brought the kuroda, asset and stock prices remain high. but on the other hand, the digression is still modest and under the targets. roses legacy. shery: you have known ueda since the 1980's. how challenging but would be for him to take away as you said what kuroda put? wataru: i think th

the rest of the market is doing well, softbank is doing well. lifting up the mood after we saw the u.s. session, the banking world's lingering here as well. when it comes to yields, falling, surging overnight. data points like aussie inflation that seemed to show that things are slowing down when it comes to price pressure. maybe that signals the rba could be ready to pivot. the dollar was down for 12 of the last 14 days, the decline continues this money. u.s. futures continuing to be in the green. commodities as well, crude up and more of the rebound this morning. chinese tech is the name of the game here. alibaba is doing this, off to session highs, 14% gains for that stock. is this the game changer for the company and the rest of the sector. tencent, baidu and jd up. let's get more on the top story and bring in our chief correspond, he has been breaking the since last night. >> the ba ba babies. six new babies coming from alibaba. are the some of these six parts greater than the whole that was alibaba before the downfall, if you will in octob

arms says the share transfer is complete both it and softbank declined to comment.e are seeing a pull back on the chip makers this morning on the concerns of the story and if the countries may struggle to lose even ties with the country you have ams down 2% i infineon down as well this morning. >>> arm has ruled out selling shares on the london stock exchange as part of the ipo despite of the year of lobbying from politicians for a london listing. the british firm is focusing on new york and will not rule out a second listing in london in the future softbank ceo says he prefers the u.s. >>> brussels is open to working with the uk on regulating financial services after the windsor framework agreement with northern ireland removing the logjam with britain and the eu according to the financial times. the eu is ready to sign an mou on the issues which have been stalled for two years. the uk government hasn't been contacted by brussels about it yet. in a first on cnbc interview this morning, david scwimmer spoke out. >> london continues to play that role we see that acro

there is a lot of concern, especially for companies like softbank which invest in hundreds of start uppanies. the worry was whether the impact, how big the impact would be. so far, a factor that rarely makes statements has said it expects little impact on its company and its own financials. for now, we don't expect a huge spillover but we will have two cc and development going forward. haidi: even without a lot of direct exposure to svb, would you assume the overall deteriorating environment for fundraising across startups come across tech is going to have a continued negative impact on softbank? >> definitely that is one of the concerns weighing on investor sentiment. there is a lot of concern we could see similar things with banks that have exposure to startups. as you can see on friday and monday, there is a lot of concern that startups will continue to have funding difficulties especially in a market where the sentiment has already been week looking at banks like silicon valley bank having trouble which nobody really saw coming. there would be impacts going forward. shery: let's no

now, we've just seen the mighty softbank , just seen the mighty softbank, the new owners of arm , the of arm, incredible microchip manufacture incredible microchip manufacture in cambridge. born and bred in cambridge and massive silicon fen success story cutting edge technology despite rishi sunak personally lobbying them, they're about list in new york. we don't begrudge our american friends and cousins , of course, friends and cousins, of course, but that company of all companies should be listing in london to now is raising like one or 2% of the world's new eqtu one or 2% of the world's new equity finance . ten years ago, equity finance. ten years ago, it was % so the stock market is it was% so the stock market is becoming a less attractive place indeed, lest energy companies decide they can't because you pay decide they can't because you pay 75% tax on profits. but if you lose money, well, that's just tough, right? and you lose money and there are going to be millions of small businesses with a 30% rise in tax next week. i mean, here we in brexit britain, which was supposed be abo

now, we've just seen the mighty softbank , just seen the mighty softbank, the new owners of arm , the of arm, incredible microchip manufacture incredible microchip manufacture in cambridge. born and bred in cambridge and massive silicon fen success story cutting edge technology despite rishi sunak personally lobbying them, they're about list in new york. we don't begrudge our american friends and cousins , of course, friends and cousins, of course, but that company of all companies should be listing in london to now is raising like one or 2% of the world's new eqtu one or 2% of the world's new equity finance . ten years ago, equity finance. ten years ago, it was % so the stock market is it was% so the stock market is becoming a less attractive place indeed, lest energy companies decide they can't because you pay decide they can't because you pay 75% tax on profits. but if you lose money, well, that's just tough, right? and you lose money and there are going to be millions of small businesses with a 30% rise in tax next week. i mean, here we in brexit britain, which was supposed be abo

>> the chip giant backed by softbank forced plans for a london stock exchange listing and focused solely ipo in new york. this according to bloomberg's source. crystal, what is the thinking behind this? >> is based in england and one of the crown jewels of the european texans. the plan is to have a primary listing. they will focus solely on the new york listing. obviously, a huge loss for london. i am sure they will have even more issues trying to get them back. why would a deeper market mean they would value the company differently? >> you can look at that tears. if you look at overall market liquidity, we have more investors that have the u.s. pocket and they have more leeway to invest as a company. most of this is still theoretical. there is no ipo market. we are talking about how it would be another couple of months, another couple of weeks until things come back. whatever this is, it will hold off. we will not know the actual valuation. >> london tried very hard to win this business. what we know about those efforts? much like caroline said, trying to pitch a company. he was a forme

the likes of apollo started lending out secure assets so softbank.is as an extension stepping into the venture space and to make the loans more secure for themselves. since 2008, there has been this wholesale shift of lending activity over the private markets. they have raised a lot of money and you can see this as an extension of that. apollo looking at these silicon valley assets after the deals they have done with credit space. an interesting move into the private market. guy: we are seeing stability returning, a bounce in the regional bank stocks today. will that make it easier to unwind silicon valley bank in the process that lies before us? herman: their loan portfolio was not the issue that led to their downfall. their portfolio had been really strong, 53% of their book is in credit with only one loss during their history. about 20% was in start up loans or to your firm are in the pre-ipo phase. those would be deemed as the most risky. alix: how do you value all the different parts of svb because that will determine how fast all of this can ge

the softbank owned company was focused on a listing in new york later this year. automatically impose a 60 minute time limit for units -- users under 18. it will require younger users to enter a password if they want to binge more than a hour but the limit can be removed. tiktok is facing intense global scrutiny that could lead to the app in band and some of its biggest markets. much more to come here on daybreak asia. this is bloomberg. ♪ >> getting south korea's pmi numbers for the month of february is coming in at 48.5, which is at the same level as that was in the month of january. remember, it's been in contraction territory since shall i of last year and we have seen that for february the export numbers weren't really great. this is perhaps not that surprising that experts stop deepening last month, slowing global demand. that plunge in chip prices really weighed on south korea. >> when it comes to australian building approvals in the broader construction of properties, we are seeing the impact of rising rates in that housing downturn as well. take a look at

the softbank group owned by chip technology company announced it would make the u.s.year. it is the best path forward for the company after holding talks with british and regulatory officials. the uk had been working to keep the semiconductor company tied close to home, but arm saying it may consider a second listing down the road. >>> citi is the latest wall street bank to slash head count. according to reports, the bank is cutting hundreds of jobs, including those in the investment banking and mortgage units. reduction representing less than 1% of the total staff. if confirmed, the move follows goldman sachs and morgan stanley which already cut thousands of jobs. >>> shares of bumble tumbling on word the ceo and investor blackstone plan to sell shares they will make the move with the offering with herd selling 1.57 million of the 12 million offered. the reminder wainder will come m blackstone dom. >>> thank you, pippa from wall street to washington, d.c. the senate voted to overturn a labor department rule that allowed and permits fiduciary retirement fund managers

the company backed by softbank is prepared to file a fresh initial public offering document as soon asweek. in the filing ovo outlined plans to sell just a third of the shares originally planned. coming up, we turn to backers of silicon valley in our vc spotlight feature and speak to -- pinterest climbing after ubs raised its price target and its buy rating on what it sees as advertising growth. roku jumping after susquehanna updated the stock. two movers to the upside when it comes to tech. this is bloomberg. ♪ ed: time for vc spotlight. let's get a look at the venture forms powering growth in silicon valley. let's start on the news of the day. first citizens coming in to buy part of svb's deposit book. you and your company have some exposure to svb. what you make of the outcome. >> i think it is not surprising. we are hoping someone would come in and by the bank so the relationships continue. in terms of exposure we work a lot with bootstrap companies so they are not the core market for silicon valley bank's. we did not have as much exposure as some of our peers in the industry. i th

. >>> sticking with the uk, softbank arm will pursue a u.s. only listing this year not a uk list bing. it is the best way forward the uk government pushed the chip maker for a dual liftsting. it remains committed to keeping headquarters in the uk and expand presence in the country karen spoke to dominic johnson at the mobile world congress and asked if they would list here. >> if we get our trade deals real, it is more of a funnel for india if we get our alliance right. i hope every company in the world will see london as a primary listing or a secondary or dual listing. we have the investment management talent. we have an extraordinary ecosystem of hedge funds conflict, i came from, but not uninvol more involved in that. the u.s. is the biggest capital market in the world, but the international market in the world is london. that is where the people are and liquidity. i call everyone to come to the uk and list and benefit from our financial services ecosystem >> also speaking to cnbc is david schwimmer. he is confident they can keep the pop p

softbank has been with us for six years.ll part of their stake, they hold onto the rest of it. other large shareholders, hasn't sold any shares. so, we are very privileged we have the support of all of these great investors, while we were a private company. the company has moved in a different direction. now we are a public company. we have public company governance. our stock is liquid. asia dish -- each investor makes their own decision. we're fortunate that we have a large number of blue-chip funds that have come since the ipo. that is the intention to create a company that creates well in a public market with support from a lot of great investors. haslinda: i know investors, svb, which imploded recently, it's made an exit from paytm. has that been an impact on paytm from the implosion? madhur: not really. silicon valley bank was an investor 10 years ago. they sold their shares in the private market four or five years ago. they had exited fully. we don't have banking relationships with svb, being an indian company. so the

. >> softbank-backed u.k.signer arm is reportedly seeking to raise at least $8 billion in a u.s. ipo. reuters has arm will confidentially submit paperwork for its listing in april. bloomberg earlier reported that bankers had pitched a wide valuation window of between 30 and $70 billion for the company. tesla has cut prices of its model s and x in the u.s., for a second time this year. tesla sells its cars direct to consumers and often tweets pricing. the latest moves come even though tesla drastically cut prices in january in a broad bid boost sales. the new ceo of shell has told the times that britain is less attractive as an investment destination, because it is failing to match green energy subsidies. he says the u.k. should take a page from some of the things the u.s. has done different recently. he also criticized the shifting tax regime and the government's energy windfall tax. dani: simone foxman in dubai. staying with us on bloomberg, we have a lot of great interviews coming up. we will speak to the na

today we work announced a deal with softbank and other investors to reduce its looming debt and securew financing. struggling office space company says the agreement would cancel or convert into equity nearly 1.5 billion of the company's dead, bringing we works total debt to just under 2.4 billion. the company took a big hit during the pandemic, reducing the demand for office space and has been unprofitable for several years now. theranos co founder elizabeth holmes was back in front of a judge. today she is seeking to stay out of prison while she appeals her fraud conviction. she's also fighting to get out of paying nearly $900 million. a restitution homes recently gave birth to her second child. she carried what appeared to be a diaper bag inside the court. the baby was not with her homes was sentenced in november two more than 11 years in federal custody . she was found guilty of defrauding investors in her failed blood testing company theranos. she is scheduled to begin her sentence. april 27th. the judge will rule on whether to let her stay out of custody next month. the catholic

aiming to raise $8 billion in the ipo this year according to the report citing sources which says the softbankwned chip designer is looking to deliver paper work in april. it named goldman sachs as one of the banks leading the offering the conduct authority has been blamed by uk officials and staff fore arm's decision not to pursu a dual listing political turmoil in the uk played a role. arabile, there are so many issues contributing to the decision you have the rules and listing and the political turmoil in the uk and uncertainty, but i blame the lack of strategy with the semiconductors plays a role. the focus on the biden administration which is openly trying to do more to support the sector and propel investment into the sector and country. you have europe coming out and pushing back against the u.s. plan which would imply europe is aiming to do something about it. the uk hasn't set a strategy or detailed any way to support the chip maker and industry. you have to think why arm would choose to list here. >> it all makes sense. you get a sense from some of the other interview i did as well.

listing is the best option softbank bought arm for $32 billion. this announced plans for the ipo last year after nvidia called off the takeover deal. >>> tesla cutting prices on the model s and model x in the u.s. to boost sales prices for a model s are down $5,000 the model x has been slashed by $10,000. in january, the company cut prices on the volume leader model 3 and model y. at investor day last week, elon musk said small changes in prices could have a huge effect on demand. tesla shares are up 60% this year >>> u.s. lawmakers plan to introduce a bill this week to outline ways to ban foreign technology such as tiktok. data privacy and national security concerns have been swirling around tiktok which is owned by chinese bytedance mark warner is working on the bill with republican tom thune dom. >>> thank you. we have the growth target at the lowest level in decades for china. this as president xi jinping plans sweeping changes to further consolidate his power. eunice yoon has more from beijing with the latest. good morning, eunice >> reporter

a real estate software maker is in big talks softbank is not. >>> ahead of a slowing gnomic data on taperal chair testimony and the key event of the day, powell's second day on capitol hill as he testifies before the house financial services committee at 10:00 a.m. eastern, cnbc will have full coverage of that testimony >>> all right, let's dive into that powell testimony, the kmirk and what it means for your company for jeff kilburg and ivory johnson. great to have you on right now. >> thanks for having me. >> good morning, frank. >> jeff, i'm going to start with you. yesterday we saw traders pinning the odds of a 50-point basis hike yesterday now surging more than 70%. what does that say about what you're expecting in the markets today and beyond >> it really reveals, frank, that no one really knows what's going come out in the jobs report on friday it's fascinating to see that surge of expectation but what's fascinating also to remember is just last week we got so encouraged when bostic, fed chairman came out and talked about 25 basis points. so i think the market is really ahead of

softbank is in the process now of converting $1 billion of their deposition into equity.tells you about how bad office leasing is getting. guy: you are having conversations with banks about providing lines for them, potentially. i imagine that you are in conversations about buying assets. how does the conversation go with bigger institutions when you ring them up and go -- can i buy that? alix: -- bruce: they are in a very good position in terms of deposit base, risk management and their portfolio. money is coming there, deposits are 3%. checking account, 50 basis points. the big banks are fine. balance sheets, well constructed. strong diverse management, the leveraged in big ways. it's not the big banks. it's the small regional banks. alix: are they taking the call now? bruce: they are. when they can't raise equity, which they can't, they are asking for deposits at 5.5% and if that doesn't work, they are actually some of them willing to take 10% money in the return debt market. think about that for a minute. the fed is going to make sure there is not a bank run. using $2

investors as we work gets closer to long-term revision with the biggest shareholder and that is softbanka dollar and 23 cents, that is up 7% this morning. a quick break and the president biden's upcoming budget released tomorrow as the white house maintains the economic plan is working the incline is previewing what will hear from biden tomorrow, stay with us. ♪ what if there was a community of like minded people ready to support you when you need it most? christian health care ministries is an organization with over 40 years of trusted care who understands the importance of family. a group that sees you for who you are, regardless of your health history, offering values based affordable health care cost solutions. learn more today at yourchm.org about health care that puts you in control. (vo) the fully electric audi e-tron family is here. with models that fit any lifestyle. and innovative ways to make your e-tron your own. through elegant design and progressive technology. all the exhilaration, none of the compromise. the audi e-tron family. progress that moves you. doors can take us t

we also talk about some of the big portfolios, the funds like softbank's vision fund they may have tok down their portfolio companies earlier than they might have liked. >> thank you deirdre bosa >>> coming up at the top of the hour you will not want to miss brad gerstner on the halftime report his take on where the vc community turns next for capital. biggest losers on the nasdaq 100. deirdre mentioned smaller tech and non-tech names in here like pfizer, marriott, some of the biggest cap tech names rallying as we are ei ts llsenghiray broaden out. (swords clashing) -had enough? -no... arthritis. here. aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme. (vo) this is more than just a building. it's billion-dollar views. perfectly located. an inspiration. and enough space to start an empire. loopnet. the most popular place to find a space. i'm christine mahon. i'm retired from public health nursing and from the army reserve. my retirement funds allow me to enjoy what i love to do. i volunteer wit

i mean, softbank, couldn't do the deal with nvidia, so the next best option is go to the markets. >>ize the asset, whatever way they can it's probably going to happen in that mode. now, you probably do have some very seasoned private companies -- i mean there's reports out there that strife is trying to raise money privately to raise cash, essentially, to make their employees good on some of their own equity right. so because the market didn't open up enough for them to do an ipo, so all their employees essentially, you know, feel as if they need to be paid for the equity they want out of. that's a really inefficient way to do it when you can do an ipo. they're not going to be happy with what the fin technology valuations are right now. >> you see companies like goldman which thrive in those environments where deals are ripe and public offerings et cetera they need it as much as anybody else. >> what is happening, though, is one of the biggest starts to a year in terms of corporate bond offerings, even though yields are higher and theoretically the sellers have to pay more there's a

the note calls out softbank by name saying this could bring their, quote, day of reckoning and there others involved that have made huge bets in the start-up ecosystem like tiger global another way this could ripple through public tech companies and if the event of the past few days created the regional bank's preference in financials and the software equivalent could be big, better, capitalized tech over smaller, less capitalized companies and these are some of the initial reactions we're seeing and it's likely to ripple out further in ways that we don't know yet we'll have that in a couple of minutes' time. let's turn to kayla tausche for the latest from washington kayla, how is this playing out as we move through the day >> kelly, there's something of a postmortem taking place in washington as regulators, lawmakers and the biden administration try to better understand how this happened and try to prevent it from happening again. today president biden said regulatory changes could be coming. >> i will ask congress and the banking regulators to strengthen the rules for banks to make

. >>> arm, a.r.m., the british chip maker owned by softbank is seeking $8 billion in an ipo arm expected to file confidential authority with the public listing later this year they hope for the valuation above $1$150 billion softbank bought it in 2016 for $32 billion. it announced plansed for ipo last year after the deal with nvidia was scrapped. i was looking up there ken fisher op-ed in the washington post today i feel empathy for this viewpoint. a bull market is in full swing despite many in denial suckers rally since the recovery doubters of bull markets hunt boogeymen. distractions like chinese spy balloons is all part of the pessimism of disbelief that bull markets climb. >> that's an interesting perspective. that's why you see the grind in the market >> especially when people come on and they may end up being right right. that is my point if you cite the fed and inflation and earnings, no one in the world, even people that don't follow things closely could name those three things. when it is front and center, it has to be worse than what we already know. >> is it because we have a

we are getting comments from softbank that they will be pursuing the u.s.nly listing according to the ceo, talking about how they will consider subsequent you, listings in due course. they will in fact pursue the u.s. only listing come up but they will consider a following u.k. listing in due course. we have plenty more to come on daybreak: asia. this is bloomberg. ♪ we're outlawing golf. wait. can i still play? since we work with emower, we don't have to worry about planning for a third kid. you can still play golf... sometimes. take control of your financial future to empower what's next. >> we are starting to see signs of the bottom when it comes to adani group stocks. let's bring in and about after closer look. we have seen some big block traits crossing the system. >> these came in the first few minutes of the moon by session opening thursday. adani enterprises coming online to 10% drop and then these block trades started to come through and the sentiment started to recover somewhat. the essential reason for these block trades is something we are not a

we change up now, take a look at how softbank is trading given that it has been a big investor in the relied heavily on alibaba to help offset losses elsewhere in its portfolio to find a different start ups. that stock continuing to slide as the session gets underway. alibaba saying it will continue to evaluate this plan. it does intend to stay an agile company, we will get further reaction at the opening of hong kong and less than one hour. shery: very curious to see how they react to the comments. let's get to vonnie quinn it with first word headlines. vonnie: bloomberg has learned fbi seat may ask big lenders to pay extra to cover the cost of recent bank failures. our sources say it could be part of the agency's special assessment that will be announced in may. fdic's as it expects to pay close to 23 begin dollars to cover deposits in svb and signature. a u.s. senate panel says credit suisse continues to help rich americans evade tax. the committee said the bank committed major violations in its we deal with the justice department. it also cited what may be an ongoing tax conspirac

softbank bisect chip designer arm is seeking $8 billion an a.u.s.a. po.s expected to confidentially submit paperwork for its ipo in april, with the listing expected to take place later this year. bankers had pitched a valuation of between $30 billion to $70 billion for the listing. rishaad: rishaad: let's linking with these images of the national development refo rishaad: that is tokyo, and we see a 1.2% gain in the nikkei, one of the things affecting sentiment there, u.s. tech shares bringing up things in companies like sony. the nikkei 225 is actually pushing its highest level since december 1. we also have news coming through about south korea confirmation about plans to ease its forced labor spat with tokyo, and compensate victims of japan's forced labor. really announcing this deal to ease this dispute with japan over colonial-era forced labor, that is according to authorities there. we have got the president unveiling this plan in which south korean companies would compensate koreans who were forced to work for japanese firms during the colonization

wework is nearing a deal for a major financial restructuring in which key investor softbank group willf debt into equity. sources tell bloomberg that the co-working company is close to securing capital commitments of more than $1 billion. the ceo has been working to cut costs and push the firm toward profitability. sources say meta platforms started carrying out job cuts, beginning with 1500 employees in recruiting and human resources. we are told ceo mark zuckerberg warned employees that the climate of layoffs and restructuring could last many years. shery: some of the stocks to watch when markets open in hong kong and china, asian financial stocks in focus given what is happening with first republic bank's rescue package. we are watching long for hong kong and china guess. we are seeing those earnings for those companies today. the china market open is next. this is bloomberg. ♪

this marks the second attempt at the softbank starter, india's stock record later rates multiple red. shares in australian lithium in-line town rejected a $3.7 million takeover effort. attorneys company had offered to take over entirely, and the lithium mine is expanding output and facilities to meet long-term demand for electronically the batteries. deutsche bank has sold for $350 million, a u.k. private equity firm partnered to buy winchester house which they plan to refurbish. deutsche bank will move to new head -- headquarters in the city of london this year. >> kim jong-un has reportedly been briefed on the country's nuclear weapon production status. the korean central news agency says he has called for more nuclear weapons days after pyongyang conducted another underwater strategic weapon system test and a tactical ballistic missile -- missile test. despite showing up the threats, some defectors now want to go back to one of the world's most repressive regimes. we find i i in this report. -- find out why in this report. >> i haven't cried because i miss the family i left behind

we have softbank turning positive.one of the names in focus in this region given its exposure to svb and the implosion of risks of contagion. energy stocks likewise, these are want to be watching, given we do see wti and brent crude. they are recovering somewhat, sitting around a three month low. a lot of concerns around oversupply risks in the market and the outlook for economies. still, we are seeing stocks moving mostly higher. it's a bit more risk on in the session. it appears that perhaps some of the concerns around contagion and the banking sector have been alleviated for now. shery: right. let's get the vonnie quinn. vonnie: moody's investor services cut its outlook for the banking system from negative to stable. it cites a substantial decline in depositor confidence after silicone bank -- silicon valley bank and signature bank collapse after week. it highlights concerns after risks to profitability. this comes as u.s. authorities are said to be examining the collapse of svb for misconduct by officers including

yes the london stock market bouncing off softbank and a bunch of other companies have either moved oruntries like like new york. aam is a real national champion it's basically it's a chip designer that makes chip for all of our 95% of the world's mobile phones. so as far as a technology champion goes we should have everything we can to try keep them on credit to try and keep them on credit to the current pm. she's done everything lobbied everything he can and lobbied leadership directly, but i think it's a little bit too late and i think it's sort of years of anti—business sentiment in the country and high and that's that's causing this sort of exodus. it's not it's not only softbank but there's the world's largest building materials group called crh who are who have moved as well and then and then shell whose over to anglo—dutch dutch. well this isn't due business rates and things to say what's what this bit and the contradiction rishi sunak pleading with these huge companies to stay here and then saying we're going to put you corporations up by 7. yeah and when all business leaders

. >> wework has announced it's received a massive $4.4 billion investment from softbank group. >> jacobyof excesses. >> venture capitalists pumped nearly half a billion dollars into the food delivery start-up industry. >> airbnb is now valued at $10 billion, more than big hotel chains including hyatt and wyndham. >> jacoby: and enabling certain tech companies to disrupt and dominate entire industries without ever turning a profit. >> wework is saying its total opportunity is $3 trillion. i mean, that's three-and-a-half percent of the entire world's gdp. ♪ ♪ >> jacoby: but perhaps the most destabilizing consequence to the economy was how the fed's low interest rates had been incentivizing public companies to take on more and more debt. >> valuations are generally elevated, especially corporate debt. >> we have flagged the rise in corporate debt. >> we have entirely too much corporate debt out there. >> jacoby: i saw numerous studies and reports detailing the extent of the debt, and how even marquee companies were becoming so leveraged, their credit ratings plummeted. the fed had hoped tha

softbank is a japanese bank which is a big funder of tech stuff they gave $300 million to a dog walkingculous it is all. so this is ridiculous. and then there's fraudulent. so you have people like elizabeth holmes who's been jailed for fraud , her company. jailed for fraud, her company. theron. this product didn't theron. yes. this product didn't work. it was meant to test. it was meant to be an all end, all in one test for every illness possible. course, it didn't possible. of course, it didn't work. yeah no work. it was made up. yeah no one thought to check one thought to actually check out this is out or ask questions. this is just endorsed dose by just endorsed joe biden dose by walgreens, the big pharmacy company . everyone is just buying company. everyone is just buying into . so this is just into the hype. so this is just incompetence a massive scale, incompetence on a massive scale, incompetent incompetence on a massive scale. but also it's just a it's con it's just it's a it's a con it's a belief that these people are different. the future. different. they're the future. you se

softbank is a japanese bank which is a big funder of tech stuff they gave $300 million to a dog walkingt is all. so this is ridiculous. and then there's fraudulent. so you have people like elizabeth holmes who's been jailed for fraud , her company. jailed for fraud, her company. theron. this product didn't theron. yes. this product didn't work. it was meant to test. it was meant to be an all end, all in one test for every illness possible. course, it didn't possible. of course, it didn't work. yeah no work. it was made up. yeah no one thought to check one thought to actually check out this is out or ask questions. this is just endorsed dose by just endorsed joe biden dose by walgreens, the big pharmacy company . everyone is just buying company. everyone is just buying into . so this is just into the hype. so this is just incompetence a massive scale, incompetence on a massive scale, incompetent incompetence on a massive scale. but also it's just a it's con it's just it's a it's a con it's a belief that these people are different. the future. different. they're the future. you see the te