tencent bands aliba ba, who have companies like tencent bands alibaba, who have become part of the opening of china, it wouldn't be a surprise that he is wary and wants to balance that particular emergence. but i think it is a clear sign that the domestic entrepreneurial market in china is evolving. it is thriving, and that may be a tool for actually opening up may be a tool for actually opening up and liberalising aspect of the chinese market. especially when you look at some of the big tech companies. of course you have facebook and google, but tencent, alibaba, chinese —based businesses whose growth is quite extraordinary. i think that growth is also inspiring the next wave of companies. look at what alibaba, for instance, jack ma has done with that company. the way it has increased its breach both in china and elsewhere. but china needs to boost growth. there has been a retrenchment from global markets to focus on domestic growth, and you can't curtail the rise of these companies if you are serious about promoting growth in other areas. difficult balancing act, whether to keep your sha

alibaba narrowed the gap between alibaba and tencent.rowed the gap between alibaba and tencent. alibaba controls nearly half of business e—commerce consumers. jd.com is hoping this new strategy will have the company increase its shares. thank you very much and good to see you. ikea will start selling its famous flatpack furniture through online retailers as part of a wider push to become more accessible to shoppers. the swedish chain — known for its vast edge—of—town outlets — is also testing a smaller city centre store format. interesting. let's have a look at market really quickly. the japanese market really quickly. the japanese market and markets elsewhere are playing catch up because japan is open for the first time in over a week today. you can see hong kong is also higher following a week today. you can see hong kong is also higherfollowing a decent night the night before on wall street. i will be back in a moment. stay with us. for over a hundred years, police have used fingerprint matching to identify suspects. now police forces

tencent owns a big chunk of this company.f whated has begun to prevail in asia with gaming where you play for free and by out on things. that is what it does in southeast asia. they have other businesses. gaming is the primary. i think it is a fast-growing entertainment. if you have tencent's endorsement and encouragement, you could not have a better ally. emily: over the next few months, it looks like there are more tech ipo's on the calendar after a fairly quiet summer. should we read anything into the slowness of the pipeline up until now? david: i think there is some ambivalence about whether it is the right thing to do, many c.e.o.'s of startups -- among many co's of startups that like the idea of not having wall street breathing down their neck. investors in the end 10 to prevail. i think you will see a lot of companies that may have been dragging their feet will end up going public. there are a lot of great companies beginning to go public now. that may shift the psychology. emily: stitch fix has filed for ipo. we have

nearly one billion users by tencent. that is the dominant ecosystem.eral versions of weibo. alibaba has a few of these various messaging apps. they use one for traders to communicate. shanda has momo as well, which started as a dating app. there is telegram as well, which came from the russians. a lot of the bitcoin groups went over to telegram when wechat groups were being cracked down on about talking about strategies to getting money to overseas wallets. wechat is the dominant one domestically. emily: do we expect more disruptions as we get close to this big communist party meeting? stephen: my one-word answer would be yes. emily: that was bloomberg's stephen engle from hong kong. instagram has rolled out some new changes to combat harassment. they will give users the option to limit those that can comment on photos to only people they follow. instagram is also expanding its offensive comment filter to four more languages -- arabic, french, german, and portuguese. coming up, more on my conversation with ellen pao and what she has to say about her ti

fined china recently tencent. could fines be on the way for whatsapp or facebook?could obviously fine them. the cyberspace administration is cracking down on baidu, weibo, on tencent and others because they have just in the last week or two levy heavy fines for various violations, including the alleged spread of propaganda and terrorism material. they are really cracking down ahead of the party congress that starts in three weeks from now. the big question is, are these temporary measures that they had before the political powwows, or is it lasting enforcement that would go on for years? emily: meantime, are there other messaging services benefiting from this disruption in china? stephen: there is wechat, the big one. nearly one billion users by tenc ent. that is the dominant ecosystem. there are several versions of waibo. -- weibo. alibaba has a few of these various messaging apps. they use one for traders to communicate. shanda has momo. which started as a dating out. -- app. there is telegram as well. , which came from the russians. a lot of the bitcoin groups w

to say ificult tencent is truly a private company. the purchase of some of these golden shares makes it much more difficult. add to this the increase in and nominally private companies for the exclusive purposes of getting the parties foot in the door, making it difficult to have that cleared the linear nation. delineation. are unlikely to see xi jinping's risk threshold increase after the party congress. one of the defining features of economic policy is supply-side structural reform, stemming the bleeding in the state sector. about privatizing. it's about looking at the wounds and hoping to become stronger. where likely to see overcapacity cuts at the center of the economic agenda, especially when we see the adverse effects of this really inefficient bloated state sector. global political economy logic still applies and local governments are reticent to see the shutdown of the state owned enterprises. they still have growth targets on mind. we've been talking about this deleveraging campaign and the buy up ofhing youom assets, but e

tencent has data in the world of health care and transportation. just media companies. is tow xi jinping's goal control the message and content on these platforms. is the socialp messaging service that was blocked. how does this fit into the broader chinese government's efforts? is it only something they are doing ahead of the communist congress party meeting coming up? selina: they say this is the new normal, the new xi regime. he is taking the chinese government and establishing a persona, cult-like leadership of the country. crackdown, whatsapp live streaming apps have closed. there is a regulation that bans women from eating bananas on live streaming. emily: interesting. quite far ins gone a concerted effort to clamp down on these companies. emily: i spoke with the baidu president and said it looks like it is going in the opposite direction when it comes to the chinese government. look at what he has to say. when you see a region, there are regulations, policies that any company needs to abide by. emily: i pushed back on that a little bit. it s

most people turn to services run by tencent.en billion dollars. but steaming services struggled to be profitable. so we asked the head of tencent‘s music business if they we re tencent‘s music business if they were having the same problem. it isa it is a very good start, i would say. it is a mature market. in these markets, the conversion rate is 30% - 30%. so markets, the conversion rate is 30% — 30%. so we're not looking at what it is right now, but looking at the yea rs later it is right now, but looking at the years later in our subscribers. 0ur users are 18—50 years old. —— 20% — 30%. so these teenagers are getting taught about the value of content. everyone is almost giving up the market in china. everything was pirated. no limit on what you do get. the chinese government has been helping us in supporting us in cracking down on the in fringe in content throughout many different sites. i am content throughout many different sites. iam not content throughout many different sites. i am not saying that everything was already i

japanese and chinese investors, aliba ba, you get a lot of japanese and chinese investors, alibaba, tencentmmerce in indonesia so hopefully they can include a bit of those financial technologies into the market. what do you think indonesia's growth level should be at given its democratic dividend and the population? for a market like indonesia you shouldn't have inflation at 4%, that tells me that consumer sentiment is weak and demand is low, inflation should be 596, demand is low, inflation should be 5%, you should have gdp around 6%. the central bank realises inflation is low and we are punching below our weight in true potential gdp. we need the engine up and running because otherwise this voter base will come back and haunt them if they can't getjobs. for them the stability of the rupee is important and inflation is important. inflation is low and the repeat is very stable. it doesn't have the confidence to reduce rates. indonesia's sluggish economy, speaking to karishma vaswani, our asia business correspondent. let's look at the markets and new record highs again on wall street, all th

so you might be interested in a new app from the chinese company tencent.called clap for xi, and the idea is that players compete to see who can clap most vigorously as the app plays extracts from chinese president xijinping's speeches. apparently, it's been very popular. so we thought we'd give the idea a go over here. good night. wild cheering the government is hurtling towards, yes, a chaotic breakfast that will damage our economy. conference, mark my words. we will make breakfast — brexit a success! brighton win away at last, beating west ham 3—0 at the london stadium. more controversy for the fa as the england women's goalkeeping coach is sent home after allegations of inappropriate api. and bath beat the scarlets to go top of their pool in the europeans champions cup. also in the europeans champions cup. also in the show, sebastian vettel finds it tough in texas. more than half a second slower in practice. lewis hamilton could wrap up the championship at the weekend. lots to tell you about this evening. starting with the premier league football. ryton

what would that mean for the growth trajectory of alibaba or tencent? jenny: this is not new.rge companies in -- i would sayge there are over one billion users .f we chat -- wechat almost everyone in china hasn't alipay account. this intricate interaction between the consumer and the internet, it does make sense that the policies they craft around this, there is in mind where the regulation is going. i would say 1% is not a lot. we have seen in other countries where the government has taken more than 1%, 10% or even 51%. does seem the policies being crafted are tighter and more highly regulated. is this the new normal in china? what does this tighter policy mean for the development of the internet industry going forward? the governmentns accepts new growth in china's gdp is likely going to come from equal shares from the internet companies, as well. if anything,ship, would get tighter overtime. selina: technology developed by alipay and tencent has revolutionized china's payment industry and put them at the forefront. what you think the landscape will look like in the next two

segment, used in huge buildouts by the likes of amazon, facebook, microsoft, baidu, alibaba, and tencent. data is what makes artificial intelligent, intelligent. the more data used, the more a computer can learn, allowing computers to be better and more efficient. answers to our search queries, better advice for doctors, and better results for nvidia's autonomous driving platform. >> this technique allows software to write software, allows computers to learn from experience and data. >> here to talk more about nvidia, its growth story, and where it may grow from here is stacy razgon, semiconductor analyst from burns research. >> good to be here, thank you. >> a lot of investors are concerned about coming to a party late. this has been a heck of a party. the company is firing on all chips, if you will. is there still room to run? >> yeah, i think there's probably still room to run. this is a company that is exposed to virtually every high growth and attractive area in the semiconductor market today, whether it's artificial intelligence, data center, autonomous driving, frankly even gaming

thank you for the music — thanks to streaming services, we'll see how china's online giant, tencent,st body—bending trend to whole new heights, pulling off yoga poses on a climbing wall. as you do. thank you for watching. hello there. we have a wet wednesday on the cards for some western parts of the british isles. some heavy rain, some strong winds, as well, courtesy of a slow—moving weather front. an area of low pressure drifting to the north—west of the british isles. this front here really dragging its heels, as it pushes its way south and east. so in some places it will rain for pretty much all day long. now, down to the south—west of england, could be some patchy rainfirst thing. but a lot of dry weather at 8:00am in the morning, and that dry theme extends further east, as well. certainly across south—east england and east anglia we will see some spells of sunshine. fairly large areas of cloud floating around, as well. temperatures around 14 degrees. similar story for the midlands — north—east england getting off to a mainly dry start, particularly close to the east coast. a si

with no spotify or apple music most people turn to one of the sites run by chinese tech giant tencentt can tell us more. it is very good start, i would say. the other territories, the mature markets, the compression rate is usually 20 to 30%. we are not looking at what it isn't right now, but looking at the gears forward, our subscribers, the age group is around 15 to 25 years old, mostly, so you are seeing that these teenagers are getting more educated about the value for content. # i #ican # i can show you incredible things... that report finishes this half of outside source, see you in a couple of minutes. in this look at world weather we will look at severe thunderstorms and is in tropical weather systems, very close to home. first of all, we will start with the weather we have just seen in south africa. this was the satellite picture from tuesday showing a massive thunderstorm across eastern areas of south africa, particularly affecting kwazulu—natal. there has been severe flooding, turning roads to rivers. about 100 millimetres of rain falling in a short space of time around the

in doing so he is roped in alibaba, baidu, tencent, to help them do this.ons for foreign companies. they're complaining they are playing on an uneven playing field. preferential treatment for homegrown companies. it is difficult to go about your business. you cannot access twitter, facebook, instagram, snapchat, google. it is difficult in terms of internet access. foreign companies, we know google and facebook continue to push into this massive market. they really need to weigh up. do they want access to this lucrative market that is china? what does it come at the expense of? applewas a criticism to when they deleted it on the app stores. it was seen by people as a repressive government. covering thank you, some important topics for us in beijing as she covers the 19th party congress. let's move on to the u.s. ipo market, in something of a revival. most of the credit belongs overseas. chinese companies will have raised in nearly $2 billion since labor day, 20 times more than they raised over the same last year. a chinese tutoring company is speaking -- is

big bubble this year e-commerce giant alibaba stock has more than doubled and then internet firm tencent has climbed over eighty percent by do and j.d. dot com has surged roughly fifty percent founder and executive chairman of the alibaba group jack ma says it's not about whether a product is made in the u.s. or made in china it's all made on the internet the manufacturing sector which brought such momentous highs and changes in the job market are a thing of the past it's the service sector which will dominate the future according to ma and sixty percent of small businesses will benefit from globalization and all this investment means of course we have to talk start ups take a look at this the number of startups in the united states valued at or above one billion dollars in the last seven years hit more than one hundred and then coming up at a fast clip as china three years ago in two thousand and fourteen it stood at twenty shooting up now to fifty six just a couple of years later and of course the very nature of a start up means we can't know their true value and few have gone public.

it's not just facebook, apple, amazon, but also in this part of the world, tencent, samsung, some ofgest tech companies in this part of the world continue to drive the markets. the tech component of the main equities index in this region has surpassed financials, which had historically been bigger. is, what we are looking at an earnings environment that is still very supportive for tech companies, which is interesting, given the huge gains we had, especially in 2017. tech has really driven the rallies. still, earnings looking pretty good for the next year or two. betty? betty: thank you so much. more room to run. plan to congress's overhaul corporate taxes remains a mystery. we will look at key questions to a berkeley professor. this is bloomberg. ♪ haidi: some breaking lines that have crossed the bloomberg. more out of though robert mueller investigation into interference in the presidential election. george papadopoulos making a significant claim in any mail, saying that top trump campaign officials did agree to a meeting with representatives of the kremlin, also saying it was appr

indian right heather ol -- ride hailer ola is planning on fromng $2 billion softbank and tencent.nies hit by levies tacked onto president trump's tax reform plan. they will make up the rate and the means and they are not specified. loads more on the way, including the hong kong open. ♪ so new touch screens... and biometrics. in 574 branches. all done by... yesterday. ♪ ♪ banks aren't just undergoing a face lift. they're undergoing a transformation. a data fueled, security driven shift in applications and customer experience. which is why comcast business delivers consistent network performance and speed across all your locations. hello, mr. deets. every branch running like headquarters. that's how you outmaneuver. 9:29 a.m. here in hong kong. we can you go to the start of the session. i am a shot salon. looking at the possibility of a strong start to the day at the beginning of the fourth quarter of the year. coming from wall street, we had u.s. equities reaching a record high. here is the bloomberg dollar index, the highest since mid-august. this is the survey of manufacturing sh

it has been a driving force in the stock rally, along with tencent. shares have outpaced the index. ,ou can see the line in blue global tech shares. the health of tech players will be in focus. apple due to report on november 2. they are hinting at tepid demand for the iphone 8. that is going to be a key item to watch. rishaad: thank you sophie. let's turn to the question of u.s. fiscal reform. with that and the rest of the first word news, here is paul allen. paul: president trump made a gop senators encouraged to pull ahead with tax plans. house and senate republicans crafting the plan complained the president is not clear about what he wants in it. the step widens between president trump and senator bob corker. senatorlled the incompetent, and the senator responded saying the president is debasing the united states. rohingya muslims fled to bangladesh in what is being called a crime of epic proportions. there is no question atrocities have been committed, but stopped of backing a prescription of ethnic cleansing. myanmar leaders rss and further opt

baidu, tencent.f you look at how those companies have tried to expand abroad, the record is quite poor. carol: speaking of a changing world order, and the politics section, an inside look at how rex tillerson is reshaping the state department. >> rex tillerson is a former ceo of exxon mobil. he was brought in with much fanfare from the business community. finally they had a big honcho ceo who was going to bring the lessons of the private sector to one of the more bureaucratic, larger institutions of the federal government. he was going to whip it into shape. that was the story, the narrative that got pushed out there. he is also a ceo who deals with leaders and bent them to his will. we want to look at rex 10 months on into the job and look at what he said was his top priority, which is to redesign the state department and look at it from a perspective of a businessman, a case study in management, and look at how this is not at all going according to plan. carol: stop right there. there is so much fo

we have got tencent and alibaba end line. -- and line.hey will be doing the same thing, launching artificial intelligence, digital assistant, and they will be delivered through a speaker, then later on through every consumer electronics product. emily: so google, amazon, do you see all of them maintaining footholds in this area, or do you see one or two dominating the market? michael: we believe the smart speaker market will peak in two years. part of the reason for that is those digital assistants will be golden into every other device, whether it is your heart or your toaster. there is a lot of devices that you can use more than once. there is a speaker that uses alexa, but in the future could use alexa or google assist. emily: when it comes to the assistance themselves, -- assistants themselves, is one becoming dominant, tied it to the smartphone you are using, or is that multiple assistance and survive? -- assistants can survive? michael: i think multiple can survive. there is nothing that will stop them from being four standards in d

recently to say we need to have a party member on the board of all of these companies, like alibaba and tencentbecause we need to make sure they are in line with the party, so the party, in his version of political reform, it is restoring the party as the vanguard for the society of every whim, not the organization that we would imagine. charlie: going on in china today, that the party moves. mr. allison: and if you look at that 3.5 hours speech, on 20 different occasions, he says "the party leads." society in the next one, "the party leads society." charlie: and he is the head of the party. mr. allison: he is the head of the party, and he is rejuvenated. in his four revolutions, the most important one is to relegitimize the party, which had become quite corrupted. when you are richer than i am, you are running a fantastic company, or you are a military guy, so he is trying to relegitimize the party, and that is a pretty far stretch. the question is what should you allow me to rule when you're toning a big -- he is trying relegitimize the party as the authority. charlie: when you look at popula

emily: what is your take on the government to take managerial stakes in companies like tencent, likeagain, they are trying make sure they have control over what these technology companies are disseminating. they want to make sure that these for-profit, private companies are still supporting, towing the line of the company's party. so we are seeing the growing involvement, entanglement of the chinese government in many more layers, even in the private sector, especially in the technology area. which is why for example google, facebook, snapchat, many of them are not even allowed to be accessed by the chinese people. >> would you expect, we know the president xi jinping is expected to be in power for another five years, do we expect to see more of it for the next five years? if there is a new leader five years from now, do you expect the drumbeat to continue? locke: as you see china trying to exert its influence around the world, while bringing more western ideas and technology into china, they still wants to control the thinking and what the chinese people are able to access, what the

china has baidu, alibaba, tencent, all with search engines.robably half a dozen other companies you search with. every day, there are new technologies that compete with us in search. competition is scorching. it is fierce and intense. and it it's a good thing makes us more constructive. emily: how would you characterize the health of the chinese economy, particularly the pile up of debt? do you see a big risk? >> overall, the chinese economy is very resilient. gdp.growth it's amazing. overall, i do not see a systematic risk. there might be things here or there that need to be fixed, but i'm very confident. i'm not an economist, but for i talkustry, the people with overall think it is healthy. emily: are you concerned about president trump cracking down on free trade and the relationship with china? >> that is really bad if that happens. [laughter] america benefits from openness with the talent flow. willorm of protectionism be bad for the u.s. and the world. emily: my exclusive interview with baidu president ya-qin zhang. that does it for this

watching on a new round of funding from in faced there's -- from investors including softbank and tencent uber's rival in india. it will help continue the focus on india and build a supply of vehicles and drivers. tomorrow, uber's board of directors is set to vote on whether to continue the deal with softbank. as well as sweeping board reforms. the deal could be the largest private thoughts sale -- stocks fell in history. sale in history. the three major goals inside the board room are to create equal voting power among shareholders, move it closer to an ipo in the next couple of years, and limit travis kalanick's power. on friday, he shocked many by naming members to vacant board seats he controls. joining us from san francisco, eric newcomer. still with us, our guest host, david kirkpatrick. softbank wants to invest in uber. i don't understand how any of this make sense. basically, taking a stake in the biggest ride-hailers around the world. basici guess there is the thesis ride-hailing is a good business, you invest in all of them. they seem to compete in a zero-sum atmosphere spending

we have tencent and alibaba and line.will be doing the same thing, launching artificial intelligence, digital assistants, and they will be delivered through a speaker, then later on through every consumer electronics product. emily: let's start with the speaker. google, amazon, they all have one. do you see the maintaining a foothold in this area, or do you see one or two dominating the market? michael: we believe the smart speaker market will peak within two years. part of the reason for that is those digital assistants will be built into every other device, whether it is your car or toaster or espresso machine. there are a lot of devices that can use more than one. there is a speaker that uses alexa, but in the future could and googlertana assist. emily: when it comes to the assistants themselves, is one the coming dominant, tied to the operating system or smartphone you're using, or that multiple assistants can survive? michael: i think multiple can survive. each one of these companies. we have two standards today in m

in china, tencent, alibaba, they all have search technology.have half a dozen other companies doing search. every day there are new technologies that compete with us in search. the whole competition is scorching, it is fierce. it is intense, but i think it is a good thing. it will make us more constructive and innovative. emily: how would you characterize the health of the chinese economy? particularly the pile up of debt? do you see a big risk? >> over all, the chinese economy is very resilient. the 6.9% growth in the gdp is such a large base, it is amazing. overall, i don't see systematic risk. there might be things here or there that need to be fixed, but overall i am very confident. i'm not an economist. for the people i've talked with, overall things are quite healthy. emily: are you concerned about president trump cracking down on free trade? cracking down on the relationship with china? >> that is really bad if that happens. america benefits from the openness and talent flow. any form of protectionism would be bad for the u.s. and the wo

. >> right >> tencent's newest game wants you to clap for cli these president xi jinping the game asks users to applaud his communist party address, and measures who can clap the fastest. the game has been played more than 4$400 million times president trump would love this. some users say they clapped more than 1500 times during the game. >> that might be fake news >> it sounds communist it sounds state controlled to me overall, i guess they play a clip of his communist party address, you have to hit a button or do what ever seems funny to me. >>> aryianna huffington is teaming up with samsung to take your humble brag to the next level. they're creating this app helping users disconnect from the internet and telling your friends you cannot be reached. it's called thrive it can schedule times to be disconnected if someone tries to connect you while you're in that thrive mode, they'll get a text sent to them saying you're busy thriving the app will be released for samsung devices later this year. of course arianna huffington is the one who goes on about the whole sleep thing. you have t

tencent seer. $.10 here.is what dollar general trades on for sure and it is what made their business so successful. they are filling a hugely important gap in the food chain for american families that are still struggling to get back in line in a disruptive situation where they do not have high-paying jobs and access is limited. in decatur, a lot of the population is latino immigrants who are working grueling poultry factory jobs. this is the reality for so many americans. it isn't written about enough. dollar general is filling a void politicals also a void, an economic void. it is a success story, but also a cautionary tale about what is happening to so many communities. julia: up next, cbs makes a big streaming bet on "star trek." and a soccer coaches may soon have a different way to cut kids from the squad using brain scans. i will explain. this is "bloomberg businessweek." ♪ julia: welcome back to "bloomberg businessweek." i'm julia chatterley. you can also find us online at businessweek.com and on the m

tencent and alibaba, china's big tech companies, they can have their own cloud server in silicon valley and microsoft cannot. we have a problem. charlie: and a level playing field. other people have made this point. tom: some things are true even if donald trump does not believe them. charlie: let me go to the final point -- this is from my tom friedman memory machine. in previous books, you made this analogy about how you look at china versus india. india had a long-term goal. explain it. tom: whenever i went to india, people asked me about china. when i went to china people asked me about india. if you think we compete, they are really competing. we ought to pay a lot of attention to india. tom: i finally developed an answer for both of them. china is a perfect six lane superhighway, perfectly paved and all the lanes divided. street, sidewalks, and everyone is going 80 miles per hour. there is just one problem. down the road there is a speedbump and it is called political reform. when 1.3 billion people hit a speedbump, one of two things happen -- the car jumps up, slams down, everyon

tiffany'-- companies like tencent. transactions in china, currency transactions, are digital.ry exciting to potential in china. the government to manage or try to manage is a multistep. manus: let's talk about japan, because you're the main political parties shaping up against each other. managing editor for japan is stocking by -- is standing by to talk about this. , there is a lovely story, japan nomics.ion reveals yuri that's what is the difference? >> with the unveiling of this manifesto, we have seen more to separate them. that he issues, we know is anti-nukes. he wants to phase out nuclear power. we know he wants to freeze the sales tax. and the manifesto, the interesting twist was that he wants to think about taxing corporate retained earnings. the idea is that by threatening to touch -- two tax worker earnings, companies decide to put that money back into the wage increases.or there are a few populist measures as well, including making illegal -- making it illegal to discriminate against people who are lgbt. of how theses groups brand themselves, what you consider to b

you have alibaba, baidu, tencent, samsung, companies and e-commerce gaining business -- or gaming businesses earnings growth like in the united states by a large. there is another set of 830 companies in emerging markets which in many cases are also delivering stronger growth and have not seen multiple data this month. a lot of things on the stock exchange, they have good experience. they will look for the next thing. the next leg up in emerging markets is water-based. -- broader based. julia: thank you so much, morgan harting. now american express showing third-quarter earnings and a leadership change after 16 years. the ceo is stepping down. more on that next. this is bloomberg. ♪ ♪ julia: it is time for the business flash, looking at the biggest stories in the news right now. a shakeup at the border. ceo of the french national food giant, effective december 1. he takes over after the other man becomes honorary chairman and will be the strategic committee of the board. signing up for milton new tracking service, writing on demand services like netflix. agents, producers, and have aided in

the latest funding round raised $4 billion, led by tencent and priceline, of the u.s..business flash update. julia: coming up, we will hear from luke ellis. why he trust technology over humans. wow. from new york, this is bloomberg. ♪ ♪ julia: this is bloomberg markets. i'm julia chatterley. scarlet: and i'm scarlet fu. wall street is entering a new era. algorithms are starting to encroach upon the work by money managers, traders, and analyst. luke ellis spoke about the technical changes sweeping across the industry. >> what we try to do is have smart people, or very dedicated to running money in a very professional way. is a management professional business nowadays. it is not a masters of the universe business. we like people who are -- you can think of it as being our --. we like people who would do this if they had no money doing it, because it is their passion. or people who come in every day, desperate to spend time looking at talks or creating models -- stocks or creating models or quantitative techniques. we do not care as long as they are passionate. >> i belie

election last year the government has also find its top three tech giants tencent alibaba and by due for failing to stop the spread of fake news along with violence and pornography now the cyberspace administration of china wrote about these moves in a article that was published in the main party journal last month and they said this if our party cannot traverse the hurdle presented by the internet it cannot traverse the hurdle of remaining in power for the long term so we've heard from them now we want to hear from you do you think china's gone overboard or are these kinds of steps necessary to me a favor away and share your views using the hash tag a j news grid. and you know we've talked about china and the us and you know the competition to become the global superpower china's competition will take a look at this graphic on al-jazeera dot com taking a look at the two countries and how much they spend on the military their economies export some very interesting figures comparing them and which i understand they're standing on the global stage and we've got some very interesting co

tencent plans to use the proceeds to expand its business by developing entertainment products derivedquisitions. rio tinto held talks with indonesian groups about a potential exit from its copper mine. rio is keen to sell its part of the joint venture. there is no guarantee that talks will advance or culminate in any deal here at freeport is in separate talks to reduce its holding in the mind. up next, the latest from the communist party congress in beijing, including potential changes on the politburo and that the pboc. stay tuned. this is bloomberg. ♪ who knew that phones would start doing everything? entertaining us, getting us back on track, and finding us dates. phones really have changed. so why hasn't the way we pay for them? introducing xfinity mobile. you only pay for data and can easily switch between pay per gig and unlimited. no one else lets you do that. see how much you can save. choose by the gig or unlimited. xfinity mobile. a new kind of network designed to save you money. call, visit or go to xfinitymobile.com. yvonne: 9:30 in tokyo this morning. m before the cal sto

you see what alibaba is doing, what is going on in baidu, tencent.es are moving away faster than google, facebook. it is scary how fast they are moving over there. i do think google has time. if the market did not think they had time, they would be slashing the multiple now. betty: thank you. open three market minutes away for the next hour of "daybreak asia." will get the take on the chinese communist party congress that did wrap up. don't miss our conversation with of asian economics research. xi jinping consolidating his power. he did not name a successor during the politburo meeting. we will see market reaction. this is bloomberg. ♪ yvonne: we are live. im yvonne mann. stock set to, extend to asia after wall street fell the most in seven weeks. keeping investors on the edge. the race for the fed. thinks gary cohn has no chance. is just after 8:00 p.m. on wednesday. president trump congratulating his chinese counterpart saying they enjoy a good relationship. the atmosphere is electric at the tokyo motor show. a scandal that has punished the native

we must use cutting edge technology to provide value to google,omers -- amazon, apple, alibaba and tencentt retailing would be both cooperating and competing with them in the future. consumer analyst -- our bloomberg consumer analyst tom is here in the studio. it is not just fast retailing who are seeing that strategy of moving abroad, it is also convenient stores as well? >> yes, we are seeing for example with this company going aggressive in their overseas and othersn, looking to expand their convenience stores and other market. there are also making overseas 7&i,sitions in the u.s., and others making acquisitions in the beverage that in europe. ramp-up andnitely a expansion, and expansion, very different from what we are seeing in fast retailing and what we've heard from you and i in the past. in terms of retail though, we have seen robust numbers going in japan too, especially in china. >> we have seen departments stores, they have really tried to bring in the tourist offset, we are seeingtakshi maya dues quite well with -- they are doing quite well with some of their duty-free shops.

held are said to have picked up $2 billion in new funding from investors, including softbank and tencents reported to be the university of california's investment arm. focus onwill help ola india and take the challenge to uber. we are told the funding round is not finished and the final amount could change. betty: just when you thought it was safe to get back into oil, new problems are bubbling up. this is bloomberg. ♪ so we need tablets installed... with the menu app ready to roll. in 12 weeks. yeah. ♪ ♪ the world of fast food is being changed by faster networks. ♪ ♪ data, applications, customer experience. ♪ ♪ which is why comcast business delivers consistent network performance and speed across all your locations. fast connections everywhere. that's how you outmaneuver. yvonne: 8:30 in singapore, half an hour away from the open in trading. i'm yvonne man in hong kong. betty: looking a little gloomy, though. i'm betty liu in new york. you are watching "daybreak: asia ." let's get to the first word news with haslinda amin in singapore. willnda: president trump visit las vegas wednesday