investors know about softbank's plan to sell alibaba shares, and this is due to softbank's internal reasonsas to be more disciplined with financials because it has been losing money. that is not really related to alibaba fundamentals. a lot of investors became more hopeful about alibaba because of the regulatory overhang away, and earlier, valuations were part expensive, so investors could probably use this opportunity to add shares. the selling pressure is likely to be short-lived. haslinda: we are also tracking sunak, trading for the first time in a year and tumbling as much as 60%. what does it tell us about how investors are feeling about chinese property developers? >> what happened with sunak today is actually very telling. it tells you how the sector is not what investors want to touch on at the moment. sunak said they had been working on structural plans, but investors are still very skeptical. home sellers have been rising for the second consecutive month in china, but still recovery is seen as very nascent, and investors are worried over some signs before they can get more confide

two stocks we will be watching closely, softbank, alibaba.ll move to sell most of its remaining stake in alibaba. the financial times says it has sold $7 billion worth of alibaba shares this year, eventually cutting at stake to 3.8%. softbank said this reflected a shift to address a more uncertain business environment. right, so we will be watching a japanese moon lender company was its shows kick off. it comes ahead of the highly anticipated arrival of the company's first lunar lander, which is scheduled to touchdown literally on the moon as early as this month. the founder and ceo spoke exclusively to bloomberg. >> well, even though, the market situation, however, our business, we need access to the capital market as soon as possible, because this market is accelerating, so we have to be ready for the next business. >> what will be the next big catalyst for investors? >> we just announced this month the round, an important milestone for us, that this is going to be the next big one. >> if everything goes as planned, a successful landing, ho

softbank says they want to access financial prudence and cut back on risks.hey also want to raise money for the chipmaking design they are looking to take public. this comes at a time when alibaba, a $200 billion giant has broken down into six units. we don't know how that is going to play out. there will clearly be favorites. there is a crown jewel that will likely do well. but what about the others? there are so many things at play here. china is now looking to be more friendly to entre nous her's. but who knows? this comes after several years of intense crackdown. thank you. -- ed: thank you. let's turn to a story we continue to fall appeared a san francisco official has announced that an arrest has been made after the slaying of bob lee. the arrest was made early this morning in the nearby city of emeryville. according to locals, lee the suspect. the outlet did not state where it got that information. san francisco police representatives did not immediately respond to our request for comment. a spokesperson for the district attorney declined to comment. w

according to the financial times, citing filings, softbank so sold $7.2 billion of shares. softbank has posted huge losses amid the slowdown in the tech sector which slammed valuations. >>> goldman sachs is shuffling the lineup in the equity trading division following the exit of a top trader that includes naming new heads for the bank's global flow deri derivatives. the reorganization steps from the former head of equity trading for the americas who retired last month he was such a big earner for goldman, that his compensation topped ceo david solomon's >> a shakeup there as goldman sachs. silvana, thank you. >>> turning back to the broader markets. investors weighing recession risks after the minutes from the fed meeting noted several looked to pause rates the fed watch tool pricing in a 66% chance of another quarter point rate hike in may with the rate cuts in the second half of the year jeremy segel says this creates a difficult road ahead for the markets. >> suppose we have a recession earnings are down 10% or 12% you give me a number for a year. then they will boom ag

alibaba, softbank, greatest trade of all time.-- stuart: and it's over. susan: go spend the money on manager else. stuart: he made a fortune, but he lost much of it, didn't he? not all of it -- susan: i wouldn't say concern still a billionaire, or multi, multi times over. of he's still considered one of the best tech traders, and this is his signature bet. but also alibaba itself, i should note they're going through a historical split, as you know, and those five separate company, and at its peak, alibaba was worth about $500 billion, now it's 25 to -- 250. still significant. stuart: susan, thank you very much. check that big board, please. in business now for all of six minutes. we've started higher, now we moved lore. kind of like yesterday. dow winners headed by dow inc. merck's up there, salesforce and honey welsh, all on that list. s&p, techne, i don't know that one. okay, let's leave it alone. 's today lauderer, i know that one -- i don't know them all. i've only been doing this 50 years. crowdstrike, top of the nasdaq list.

softbank is selling ventures asia after billions of dollars of losses.e sold to an entity led by the younger brother of the softbank founder. shares of japanese ispace went untreated. investors bet on the startup and the space development efforts were courted at twice the marketing price on wednesday. caroline: another thing, ed, an ipo, what sort of an environment is this at the moment for startups the want to go public? mike volpi is the perfect person to be asking. he holds $3.2 billion across the latest funds. ipo's are rare. people are trying to raise funds to stay in business. how much are you seeing a desire or ability to write checks at the moment? mike: thank you for having me again. i would say that generally the climate is fine right now. 2022 was a really slow year in venture partly because public markets took a big step back with higher interest rates and the desire for companies to achieve profitability. we are still generally in the climate. i think the venture community has found a few green chutes. you talked about ai, an area we are see

arm is the chip company that is owned by softbank that's expected to ipo in the next year, and then those typically made by one of the big manufacturers like tsmc, but the importance here is that they are designing and displacing some of the chip-makers that we know very well, like intel and qualcomm and others in the future plausibly because they are bring it inhouse and that helps save costs for them and their customers. >> you've set this up in a sharks versus jets kind of way, deer drag, but in reality look at intel they have already seen what can happen when you've got a tech giant saying we can do this ourselves and do it better and do it more cheaply what should nvidia be reading into this? >> exactly we should really note that intel and nvidia are in very, very, very different positions i mean, intel has had problems for decades and nvidia is really seen as the giant of the space the leader at the compute level for artificial intelligence, nobody, including google, will be able to challenge that any time soon, but it's the longer term case there could be less reliance, and there's

you may have seen that then we got filings that revealed softbank is moving to sell a great deal of its the great investments ever made by softbank or any other investment firm when they bought that company, of course, carl at very, very low valuations, but they are now out of a lot of it. >> yes a lot of technology, in fact inflation read meantime as we mentioned, ppi falling to levels not seen in a couple years richmond fed president saying while the worst is probably over, the fed's job is not take a listen. >> i certainly think we're past peak on inflation, but we still have a ways to go and you mentioned it came in at 0.6, multiply by 12%, is 7% year over year core services, 0.4, multiplied by 12 is about 5 get down to 2%, i think we're still a ways from there. >> this as investors work through the pop in jobless claims with the revisions now. fed minutes and a lot more steve liesman is here to roll some of that up. hey, steve. >> going to do my best the big beat on wholesale prices is raising optimism about the inflation outlook and lowering the outlook for fed rates. here's the n

the motion between the pacific plate and the north america plate and this fog is definitely the softbank is definitely part of those faults and that sort of movement. it has that kind of motion. but exactly whether it's one of those of the other wine or some tiny that will stand associated with this complex structural. that's a thing we can say at this particular moment. >> have there been after this 4.5 and to know the depth of the initial biggest one. >> out loud, the maine shack itself was located at depth of about 9.2 kilometers and they'll all always aftershocks after any off. craig backs how they that's how they will pay north takes happen. more takes happen. but the number earthquakes to case exponentially with time after all the main schock. and so every minute that goes by the probability of case goes down. >> real quick, what about the shake alert? some people are saying i didn't say it on my phone. my phone didn't go off. >> so the threshold for sending out an emergency law to the emergency alert system that you get folks and lot on your phone and other sorts to see that on yo

staying with japan, rakuten bank makes its debut today as japan's biggest listings in softbank's more20 billion launch in 2018. for more on the story, let's go to hong kong. this is a revival of sorts for the local ipo market. >> that's right. we have not seen a share sale exceed ¥50 billion in japan this year, but it will be raising over ¥85 billion or $620 million shares are priced today to sell at ¥1400 apiece. that is the top end of the range, but it is important to note the range was lowered during the offering process so at the outset of this actually the range was 1600 to ¥2000 per share, so it is a little less than what was initially anticipated and could be more like $880 million, but as you say, it is the biggest listing in tokyo in more than four years. >> shares are marketed at a tough time. >> exactly. this is the banking arm of the e-commerce giant rakuten and it went through this process when we were seeing issues with svb bank, credit suisse, so raising this much money is still going to be providing a massive cash influx for the parent. as we know rakuten has been sadd

in hong kong we are seeing some selling off of the news of softbank selling out of alibaba, that hashe next board to see how the day ended on wall street so you can see how investors are basically reacting to the news, they had inflation numbers out yesterday and also the fed minutes as well which, you know, to some it is heightening fears about what could be ahead in terms of future interest rate rises as opposed to cuts, which is what markets have been desperately trying to pricing despite everything jerome powell is saying. you up—to—date on all things business and use. have a really good day. i will see you soon. —— you are up—to—date. hello there. storm noa has been bringing problems to transport, with road, rail, ferries and airports affected. meanwhile, out to sea, some wild weather in cornwall, with these large, mountainous waves pummelling the coastline. some of the waves were thought to be about eight metres high. that's the same height as two double decker buses stacked on top of each other. storm noa, then, has certainly been making its impact felt. it's this swirl of clo

his softbank continuing to sell shares of alibaba? according to analysts, we knew that this was happening so some of the losses here might be short-lived. european stocks able to eke out again this morning, up .2%. american equity higher after ending the day flat. goldman sachs is more volatility to come in american equities, given all the macro uncertainty we have ahead of us. some so going forward if that is sustained, is going to be great for commodity exporting companies like -- countries like australia. for things like louis vuitton handbags like you were talking about earlier. >> pick your poison this early in the morning. the truth is there is pressure for companies to move away from china, are these types of trade figures likely to be sustained? >> on the margins, those kind of moves, when people are moving production to india or vietnam are bears things is obviously going to affect chinese trade numbers. chinese companies are shifting production to mexico to take advantage of the nafta trade agreement or to get around u.s. ta

softbank was we arm will work with manufacturers to develop its new a semiconductor.west ship is said to be more advanced. the product will be targeted to software developers and there are no plans to sell licenses. that is it for "bloomberg daybreak: australia." " daybreak asia" is next. this is bloomberg. ♪ i screwed up. mhm. i got us t-mobile home internet. now cell phone users have priority over us. and your marriage survived that? you can almost feel the drag when people walk by with their phones. oh i can't hear you... you're froze-- ladies, please! you put it on airplane mode when you pass our house. i was trying to work. we're workin' it too. yeah! work it girl! woo! i want to hear you say it out loud. well, i could switch us to xfinity. those smiles. that's why i do what i do. that and the paycheck. hi, i'm katie, i've lost 110 pounds on golo in just over a year. golo is different than other programs i had been on because i was specifically looking for something that helped with insulin resistance. i had had conversations with my physician indicating that tha

this exodus begin with two key investors that have been long time china bulls, were talking about softbank exiting alibaba and a $4 billion of stock in tencent, potentially flagging and eminent sale, that this is suggesting a major exodus by investors out of china tech. does it mean the charm offensive fell short in terms of trying to restore the confidence? >> and yet when it comes to the broader economy, there is optimism about where china is headed, right? not only china, but asia, including india, the imf saying china and india will drive half of global growth this year, forecasting growth in the region will come in at 4.6% this year comes of the region as a whole is contribute over 70% of global growth this year, and that shows you the growing heft of asia as a contributor to the world economy. >> so many uncertainties. it feels like that when it comes to certainly the guests we speak to, we are getting more certainty as to what the path and the momentum of the recovery is. there are good green shoots. we had the numbers earlier in the week suggesting at the high-end at that the chine

credit suisse has filed its for $40 million lawsuit against softbank in connection with the collapsegreensill capital. they have engaged in legal spats, after the filing of the claim. this is the first legal move from the swiss lender. greensill was one of one major scandals that knocked confidence in the swiss bank. hsbc said proposals from ping an for minority listing of its asian businesses would destroy shareholder value and mean lower dividends. the pain rejected. the chinese insurer suggested a partial listing of its asian unit. hsbc described the plans as a financial engineering approach that misunderstood the company. coming up next, the adjusted earnings report from wall street banks following the regional banking turmoil. hear why our next guest things the first quarter results will be the best this year. this is bloomberg. ♪ ins owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable

credit suisse officially filed its lawsuit against softbank in connection with a series of legal spoutshe u.s. and u.k. ahead of the filing. this is the first move by the lender since the ubs deal. it was one of several major scandals that knocked confidence and this was bank. hbc -- hsbc says paying in plan would cause material loss of value. -- ping an insurance would cause material loss of value. asml shares, falling on concerns that a drop in demand in the broader chip industry would have long-term impact, with the company forecasting second-quarter sales that beat estimates. they said they would continue to see mixed signals on demand and have a backlog of more than 42 nguyen dollars worth of orders. let's look -- $42 billion worth of orders. haslinda:haslinda: let's look at inflation easing more than expected in new zealand. the yields are also down. the procession is quite be expected in new zealand. look at where the dollar is now. 0.6156. india has overtaken china as the most populous nation. we will be live in mumbai and delhi next to discuss the implications. we are leaving y

. >>> softbank's ceo is set to sign a formal i a agreement with nasdaq to list chip designer arm whichays a tent active deal was on monday. they reeled out an initial agreement. london is now tied with new york as the world's leading financial center, according to a new report from the city of london nicholas lions, lord mayor of london, told cnbc he has a plan to attract more investment in the environmental. >> we want to make sure we reverse this market which has undermined the success of the uk stockmarket for the last 15 years. so creating a big growth forngsd a $50 billi ion pound growth fu to put private equity into these countries can make a strong statement about our uk intent to keep these businesses starting, scaling, staying here in the uk. that will make a big difference. once we do that, we'll start to see a rebalancing of evaluations between north american market and the uk. >> the recent banking sector turmoil has uncovered many vulnerabilities in the global financial system according to the latest report it says market sentiment remains fragile despite interventions by

of the company. >> don't cry for me, softbank. >> no. >> holding $41.50, jim, i wonder what levels you are important here >> look, i think yesterday was really a remarkable day. two days ago was really amazing. at 2 kwl:30, there was some ecb clown that did something, who knows, you have to ask sara. we're not back in the bear market that's no longer the case. that ended all we are looking at is the various days things looked great. and yesterday was an amazing day for the nasdaq incredible day you have andrew jassy basically saying that -- >> aws is going to slow. >> right >> and nobody cares. >> nobody cared. the stock was up are you kidding? that interview was like, i got to sell my -- i should sell my amazon they're not selling. 27,000 people laid off now maybe one of those is making $5.8 billion i tried to do the back of the envelope that's going to save it. >> that's what it would have needed to be the 27,000 >> yes >> otherwise, they're not going to get the numbers >> what they will tell you is, jim, you want to close those warehouses those people make a fraction of what the 27,

active startup investor of 2021 and backed the most unicorns, deployed the most dollars, of even softbank's through major reratings. journal reports tiger marked down private funds an average of 33% last year, erasing a total of $23 billion in value. vcs don't typically give this much detail to investors about markdowns for private companies. as we talked about, there's some discretion with regards to when and how they do so it is somewhat unusual tiger is giving so much, and especially for a fund, i should make this clear, venture fund launched less than two years ago with a ten-year investment horizon. as we talked about, guys, the hedge fund has been under pressure the firm nurses those losses which could make it harder to raise its next fund. on the public investment front, things have turned around. a person familiar with the matter tells me the flagship hedge fund which focuses on the public market gained more than 7% in the first quarter of this year as we talk about, private valuations lag those public ones. >> any sense of where they've been hit hardest, sectors or companies that h

million round had participation from ceos of uber and door dash as well as the key architect of softbankision fund and former chairman of we work, the people who have run some of the most unprofitable tech companies or funds in recent years kind of the poster children of high risk high reward the idea the executives that ran these companies and funds during that low interest rate boom time but are now bullish on treasury management underlines 2023 as the era of conservative spending and cost cutting meanwhile, guys, another indication of the age of us an tert for even the profitable megacap tech companies google also still cutting but just around the edges snack bars and staplers are the latest under pressure. even staplers, guys, cutting out. >> take away my coffee take away my desk lamp but leave my stapler you will pry it from my cold, dead hand as charlton heston once said. >> remember the movie office space where the guy is going around who has my stapler? >> that's it at google right if you are cutting down on staplers everybody is going to be searching i wonder if that is a proble

softbank is cashing in on its long-held stake in alibaba. chinese internet giant this year after selling billions more in shares last year. softbank once owned one third of alibaba, most of that came from an early $20 million investment. delta airlines is expecting profits this quarter to beat wall street estimates. they see steady bookings heading into the summer travel season. delta reiterated the full-year forecast of 15 to 20% revenue growth over 2022. global news powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. ♪ at do you see on the horizon? uncertainty? or opportunity. whatever you see, at pgim we can help you rise to the challenges of today, when active investing and disciplined risk management are needed most. drawing on deep expertise across the world's public and private markets in pursuit of long-term returns... pgim. our investments shape tomorrow today. go. go green. go wind turbines. go gorgeous reliable grid. go emerson software. go science people. go breakthrough meds and safe

listed shares are up about 1.5%, 2% now, just around 320,000 shares of volume regulatory filings from softbankcate it has sold the bulk of its stake in alibaba, according to the financial times with the sales, softbank will have a less than 4% stake in alibaba. that initially drove some downside action in baba and swung to a slight gain in the premarket. we'll also watch shares of delta airlines, up nearly 5% premarket, 150,000 shares of volume it was a definite mixed report profits fell shy of expectations on less than expected revenue. but delta forecasts current quarter profits and revenue growth that was ahead of analyst estimates, which would indicate that maybe travel demand remains strong despite economic concerns and other industries so, you can see those shares up about 4% now by the way, stay tuned as delta ceo ed bastian joins "squawk box" to talk about those earnings results and what the future does hold for travel, especially that lucrative business demand. ed bastian on in a few moments and we'll end with a check of shares on merck, higher, helped in part by analysts at citigroup

credit suisse has formally filed its $440 billion lawsuit against softbank. two has engaged in shadow legal spats in the u.s. and the u.k. this is the first legal move since the deal. one of several major scandals that knocked confidence in the swiss bank. hsbc sent proposals for a minority listing of its asia businesses would destroy shareholder value and means lower dividends. the bank rejected the partial listing of its asian unit. it described the plans as an engineering approach that misunderstood the company. up next, we will hear from deepwater asset management that says tesla is doing a good job navigating a downturn despite missing profit estimates. this is bloomberg. ♪ >> we are not trying to take breaking actions in order to deliberately undermine competitors. we do not think about competitors that much. we are the only ones making cars that technically we could sell for zero profit for now, and then yield tremendous economics in the future. haidi: elon musk speaking as we passed those test the numbers, and missed first quarter profit estimates aft

softbank owned arm worked with manufacturing partners to develop its own semi conductor. newest chipped is said to be more advanced than previous chips. the product will be targeted at chip manufacturers more than software developers. there are no plans to sell or license. the new owner of silicon valley bank has told the financial times that customers are withdrawing deposits. last month first citizens agreed to buy the collapsed letter and its president is now calling for patience from investors. the withdrawal is for pent-up demand during the time in which the fdic took silicon valley bank. rishaad: that is after the collapse. regional banks remain a key risk for investors. we caught up with the cfo who says they're being more judicious with their portfolio. >> i think there has been a divergence in the performance across the group but by and large, we saw it grow pretty stable. >> what do you need to do to make sure you can hold onto those deposits? we've seen a move to money market funds, to grab the yield. what are you going to have to do to keep customers and attra

and certainly for softbank, which owns it. >> arm, i think, is one of those companies that -- i mean,ke deep mind at google we forget, oxford and cambridge. it's not just stanford >> no. >> put them in the same breath >> uk-based. >> jim , on energy, oil is goin to have a down month >> now the analysts have them, which i think is justified >> no one understands why it couldn't hold the opec gap on the production cut >> i'm going to texas in a cursory way, signing bottles in houston for my wife, and the oil people are anxious to come on and tell their story because i think they think that the perception in journalism is that the permian has peaked not only am i not getting that, but there is signs of a major find in powder river >> really? >> yeah. major. >> signs of a major find >> powder river basin. to the point where we're going to be talk about how great powder river is soon so -- >> where is that, by the way >> wyoming >> wyoming >> yeah. >> interesting >> interesting because we tend to think -- remember -- i remember with the laid aubrey mclenden, to ohio, for the utica, said, w

i still earn some of them but companies like delivery hero and softbank are companies that have no profitabilityath to profitability and they are still trading at billions of market caps. those are the stocks i think are at risk. the markets are condensed. -- convince the fed will cut hikes later this year. a lot of these companies have cyclical risk. if the fed is cutting, the economy is not good. sometimes you are hoping for the fed cutting, allowing big multiples, but it will affect her earnings. jonathan: aldean ages of 31% today. product is up 35% -- prada is up 35%. do you still hold it? patrick: coming into this year, i thought lecturing was the best place to invest because it was trading slightly to the market multiple. i cut lvmh. i still earn earnings -- hermes bank -- the same reason i sold lvmh. the reason i chose to sell first is to make an acquisition good to shareholders. >> interesting. you think it may be in the market for something big? >> it is the 10th biggest tent spinning in the world. the business model is growing not just organically but the acquisition. if your company i