taylor: how much does tencent music mean to tencent holdings?s a big deal, but at the moment it's a $25 billion company, where tencent is 300 billion dollars to 500 billion. social apps are still booming for tencent. we chat is a super app where they want you to come in there and chat and watch video and music. tencent has staked out a leading position in the areas of streaming video and music to make sure people never leave we chat. if it loses its dominance in those media areas, the strength of we chat on its users is weaker. emily: that was bloomberg's lucas shaw. we will bring you the latest in tech throughout the week, 5:00 p.m. new york, 2:00 p.m. san francisco, and we are livestreaming on twitter. be sure to follow our global breaking news network tictoc on twitter. this is bloomberg. ♪ david: she grew up in a booming iran, where women held high-profile positions, only to see her country overthrown while she was away studying at oxford, watching from a distance what happens when political reform does not keep pace with economic growth. af

investorna we are an in tencent, we have 31% of the shares.et it is probably the most attractive internet market in the world, the biggest internet market in users. i think tencent has a fantastic position in the market, probably the best leadership team. we are happy to be active in the market with tencent. >> you talk a lot about food delivery. know you are a big investor in ai is all the rage, cloud product software and outside food delivery where you see the next frontier? >> if you look at technology that is going to make a massive difference in our lives i would say machine learning is the one that stands out. it will be as transformational maybe even more so than mobile phones have been over time. it is really changing how people interact with the internet and i think it will be relevant in all the businesses we have. machine learning is huge for us. taylor: a big thing in the market recently has been finding the path to profitability. as you look at what companies you do and don't like, looking at different sectors, how important is it

happy to be active in the markets with tencent. you talk a lot about food delivery. i know you are also a big investor, ai is all the rage these days, cloud products software, and outside food , delivery, where do you see the next frontier? bob: if you look at technology that will make a massive difference in our lives, i would say machine learning is the one that stands out. i think it is going to be as transformational, even more so than mobile phones have been over time. it is really changing how people interact with the internet, and i think it is actually going to be relevant in all the businesses that we have. so machine learning is a huge topic of interest for us. taylor: a big thing in the market lately has been finding the path to profitability. as you look at companies and individual markets that you do or don't like, looking at the different sectors that you want to be involved in, how important is it to see that roadmap to a path to profitability? bob: the way we think about it is if you understand the business model we

>> if you look at the investment we have in china, in tencent, i think tencent is mainly operating domesticallys a very strong chinese franchise. i would say the operations of the business have not been so much impacted, but i think it obviously has impacted investor sentiment. i think that has had an impact on their share price and ours as well. taylor: are you purposely focusing on companies that are locally operated with china, that do not have that international exposure that are subject to trade headlines from the u.s.? >> one of the things we do is take a long-term perspective on the world, and i think it has served us well over time. when we do an investment, we simply take a 10-year horizon. we were not really worry about what happens today. taylor: coming up, waiting for the new year. that's when airbnb plans to ipo, but one city could be a roadblock to the public markets. we discussed next. this is bloomberg. ♪ taylor: stripe has raised 250 million dollars in additional funding. according to a company statement, that puts the unicorn at a new pre-money valuation. of $35 billion. inves

assets include a lucrative stake in china's tencent's holding.up with the ceo, bob van dyck and asked what he sees that investors should be open to. >> the stock was quite positive. we expected it to be volatile in the beginning. there is a new listing. becher waltz have not -- the share walls have not received their shares. generally, i think people are more excited to have a more exciting internet group listed in europe. now the right time to be ipoing? >> we are growing fast organically. i think the timing is perfect. taylor: you mentioned classified. for is the next business ipr? >> we are a growth company and we want to see this next wave of growth happening? that is the first priority. taylor: what sectors are you assessing next? -- investing in next? >> there is so much we are excited about. using more meal occasions to order in or order at home. that is an opportunity we are excited about. taylor: talk to me more about food delivery. the competition is heating up. you have more companies coming out that are trying to invest in that market

we will check in on their performance and its tencent stake with the ceo.orld's second richest person on climate change. bill gates's thoughts on the adaptive action that we can take now. this is bloomberg. ♪ taylor: just last week investors piled into the newly listed internet unit from south africa. shares initially jumped as much as 32% above its reference point before declining. prosus holds assets that include a lucrative stake in the tencent holdings. i caught up with the ceo and asked what he sees that investors should be open to. bob: the start was positive, and we expected it to be volatile in the beginning. it is a new listing, and the shareholders have not received their shares. they will only get them on monday. there will be more activity going forward, and generally i think people are excited to have a large group listed in europe, and we are the largest consumer internet group in europe. investors are very positiving about it. taylor: is now the right time to be ipoing? bob: it is profitable in classifieds and payments, and we are also growin

it holds assets that include a lucrative stake in the tencent holdings. up -- i caught up with the ceo and asked what he sees that investors should be open to. the start was positive, and we expected it to be volatile in the beginning. it is a new listing, and the shareholders have not received their shares. they will only get them on monday. there will be more activity going forward, and generally i think people are excited to have a large group listed in europe, and we are the largest consumer internet group in europe. taylor: is now the right time to be ipoing? bob: it is profitable in classifieds and payments, and we are also growing organically. taylor: you mentioned classifieds. what is next business you would list for ipo? bob: we are focused on process prosus at the moment and we want to get the right investor base -- base into the listing and that is the first focus. taylor: what sectors are you investing in? bob: there is so much that we are excited about. we are investing in food delivery in the u.s. that is raggedly -- rapidly growing. orderin

stake and the tencent listening -- listing? is certainly discount that is well published. we think it is mainly due to technical issues, that at prosus , we have taken steps to resolve. there is tremendous synergy and knowledge we get from these different businesses. in india, we operate in all our different segments, we co-invest with many players and because we are so broadly present in the market, we create a lot of value. do you see any other possibilities for share sales or listings? listed many companies in the past when we thought the time was right to capitalize on the value. we will probably do it in the future but today is really all about prosus because we think that is a major step for shareholders. also shareholders that are interested in investing in fast-growing large-cap consumer tech in europe. previously, there were not many companies that fit that bill. and we areout prosus very excited to be the kind of company we are. anna: what has been the reaction amongst the investment community in south africa to the m

t tencent down about 2.5%. baidu down nearly 4% as the white house reportedly is considering delisting chinese companies from u.s. exchangeses as it looks to limit u.s. investment dollars into china. joining me for more is tech strategist and managing director at wolf search great to have you here today, steven first and foremost, what do you make of the impact this news could have >> well, it's a little bit off the rails relative to the trade that we've been mostly focused on there could be some collateral damage here. i think you have to step back and look at the bigger picture the white house has clearly taken a hard line with china as a tech analyst, i have to support that because we've seen china take intellectual property over the years, put a number of u.s. companies out of business there is a long-term battle going on the chinese trying to create their own business we're holding back semi conductors so i think this is part of a bigger picture in a long-term battle that's likely to continue for some time

tencent down 1.25%. seeing a big reaction in the offshore remember he is well.ng at 7.14 and change. we do have to leave it there for a moment. thanks to brendan murray in london and bloomberg daybreak asia host here with me new york, shery ahn. coming up, "balance of power" with david westin. he will be speaking with the american banker ceo rob nichols with the situation at wells fargo. and we have more from brendan murray and his team. checking the markets, a little higher for the major averages, with the exception of the nasdaq down .1%. this is bloomberg. ♪ david: from bloomberg world headquarters in new york, i'm david westin. welcome to "balance of power," where the world of politics meets the world of business. we begin the hour today with markets moving on that scoop from bloomberg that the trump administration is considering imposing capital restrictions on china. we turned to kailey leinz to tell us what the markets are doing. kailey: you saw a sharp leg lower when bloomberg broke the news. we have recovered somewhat. the dow jones has turned positive,

you have grab trying to do a super app, tencent. is that the way to think about the future? dara: the super apps are winning, and we can be the super app of transportation, so to speak, that allows us to acquire customers at much cheaper rates than our competitors and allows us to keep customers because we have a deeper relationship with them, and we think if you can acquire customers and keep them longer, that is just a winning formula. emily: uber eats is what, 20% to 30% of the business? dara: yes and growing quickly. bookings grew 90% on year on year basis. we are the largest global player out there, and we continue, in the category of food, we believe can be as large or even larger than the ridesharing category, so we love that business, and we continue to invest in it. emily: there are so many competitors that do exactly what you do in this market and other markets. what if you're just subsidizing our meals, and you don't win the market share, and this is just a giant hungry money pit? dara: so early on, i think people could have accused the rides business of the same.

lender, a big player in latin america and america, 1.5 billion euros from santander u.k., approving a tencent per-share dividend. accounting principle that describes what seems to be a permanent reduction in assets. isther or not the ppi again engulfing the company, we will dig into those details. we will get nike after the bell. one of the concerns about nike is that it will be affected by fx. sarah: if you look at the dollar's relative levels, it is very strong. if you want to see the fx earnings, especially for multinational companies like nike, you were -- you are going to see a big move in relative levels of the dollar. if you are looking at data out of the u.s., how much stronger , a scenario where the dollar moves much lower. mandy, i want go, to get your perspective on oil. it has sold off quite a bit after that attack. it is not much higher than pre-attack. macro conditions which on a day like this would mean a decline versus ongoing tensions with theoretically would keep a bid under the price of oil. are seeing awe lasting impact as a result of the supply discussion is in the versus

alibaba and tencent are doing very, very well here and in asia without opportunity.portunity that is still the earliest stages of its growth trajectory. paul: your point on the cloud, cloud floor had a very successful ipo last week. a rare success among a sea of recent letdowns. where are you getting exposure to the cloud what you like there? flare in thecloud portfolio. we owned it now for a while as a private copy. which is helping carriers and enterprises express their business in a softer way on the commit occasions networks. their opportunities with a well-known public cloud companies. but than smaller companies that are helping fill the gaps. it is very broad market. shery: any time we talk about tech firms we cannot overlook the regulation headlines that we could see in the future. how much of this are you factoring in? it is certainly a factor. with that thought a lot about it and frankly we think the u.s. government is going to struggle to adequately regulate these companies. these copies are still the most efficient place to deploy an advertising dollar rel

seems that they are determined to get the -- ne it includes assets from south africa, 31% stake in tencentprocessain focus of the is the next wave of growth. we have become a really substantial part of the original 16 where we are close to 25% of the index and we are still growing fast. is inganic growth rate the 30% range which means we will keep growing and we need the right place to keep growing. ♪ of ab invev's asia unit is back on just two months after it was shelved. bloomberg has learned the company is aiming to waive about $500 billion in hong kong at the end of september. what do we know about the deal so far? >> the company is now looking to raise $5 billion usd instead of $10 billion usd, which which was thinking two months ago. i would say it would be a boost for the market. been subdued for a while after the u.s. trade war and the ongoing protests. markets havethe been really exciting about the deal coming through. ♪ >> smile direct club. shares fell from their initial public offering in its debut. you can't find a company of this size having this type of one-day drop. >> they

the group includes assets from south africa and includes its 31% stake in tencent.netherlands third-largest company. main purpose is really facilitate our next wave of growth. we have become, over time, a really substantial part of our where we areange now closer to 25% of the index. will we realize as a company, we are still growing fast. we have organic growth rates in the 30% range, so that means we are going to keep growing and we need the right place to keep growing from here. the ipo is back on just two months after it was shelved. the company is aiming to raise about $5 billion in hong kong by the end of september. what do we know about the deal so far? >> the company is now looking to raise i've billion u.s. dollars instead of 10 million u.s. dollars. actually, i would say it would be a boost for the market in hong kong because the market has been subdued for a while after u.s. trade wars and also ongoing protests against the government for a while. so, investor in market has been really excited about a deal coming through. >> smiled direct club. you can't f

the new creative group includes assets from south africa, 31% stake in tencent. the netherlands' third largest listed company. >> the main focus of the process is the next wave of growth. we have become a really substantial part of the original exchange, the johannesburg stock exchange where we are close to exchange.he as a company, we are still growing fast the organic growth rate is in the 30% range which means we will keep growing and we need the right place to keep growing. >> the ipo of ab invev's asia unit is back on just two months after it was shelved. bloomberg has learned the company is aiming to raise about $500 billion in hong kong at the end of september. what do we know about the deal so far? >> the company is now looking to raise five billion u.s. dollars instead of 10 billion u.s. dollars it was thinking two months ago. i would say it would be a boost for the market and hong kong. the market has been subdued for a while after the u.s. trade war protest against the government for a while. investors in the markets have been really exciting about the

percent up on tencent after hours. i am interested from your perspective big international companies such as microsoft, how winds arehe -- of the coming from the u.s. dollar? it is spiking high today. do you expect the dollar to remain in favor as the rest of the world starts to slow down? >> i have said all year it's hard for me to come up with an argument that the dollar will weaken. it continues to be strong. if you look at the interest-rate differentials is when the u.s. and the rest of the world, it is hard to argue that the dollar will slow down. what's interesting is that the trade wars in my mind are contribute into the stronger ironically. the administration would like the dollar to weaken. the problem is, the more the rhetoric and the worry about trade wars the stronger the dollar. we will see what gets there. >> the dollar is up one quarter of a percent. looking at other assets, particularly gold and of the a down we saw gold had day today. how did that factor into the trading mindset? >> we have been seeing

useave alibaba trying to companies now and having tencent listed in hong kong has not hurt their abilitygrow. a new proposal? >> it's the first time i have heard of it. >> even historically, have there been called to limit the flow of cash from the united states into china? >> not that i'm aware of. been takent has seriously. >> one other element to this is the idea of what the potential impact could be with regards to treasury holdings and treasury buying obviously china is a big component of the market here. if this proposal were to make it to the light of day which is not really clear that would happen, how do you think that would sidet the market from that of the equation? >> in terms of u.s. treasuries? yes i have heard a lot of concerns in the u.s. about what happens if china were to dump its u.s. treasury holdings. i have never heard of anybody in china in any shape or form whether it is government official or anyone in the private sector even talking about this. there seems to be a concern on our side but not really any sort of call to action on the other side. back and remember

just look at the big chinese companies listed, alibaba up, tencent up 2.25%, flirting with more than 2.25%. look at china automotive systems. this might be one of the reasons investors feel more secure. over the weekend, the treasury's chief spokeswoman made it clear the u.s. is not trying to block chinese companies from listing shares on the u.s. stock exchanges at this time. she says at this time. other advisers to the president say there are significant transparency issues with chinese stocks. just a suggestion of the debate has the spokesperson for the chinese foreign ministry pushing back. listen. >> translator: to exert extreme pressure and even attempt to force the decoupling of china/u.s. relations would definitely damage the interests of the u.s. and chinese enterprises and people. our financial market turmoil and en danger international trade and world economic growth. reporter: a spokesman goes on to say the chinese hope the u.s. meets them halfway to work out a resolution. now, this is just an idea being kicked around and it has not gone to the president for consideration

they hold assets that include a lucrative stake in china's tencent.from the companies base. -- company's base. >> the main purpose of the listing is to facilitate our next wave of growth. we have become a substantial part of our original exchange. viviana: among other things, they have the world's largest classified ads business. that is your bloomberg business flash. tom: it is an extraordinary morning of breaking news. as francine mentioned, one of thenewspapers talks about gas within the courtroom in scotland. the scottish courts push against prime minister johnson. we are hugely advantaged this morning to have with us anthony gardner. service to the united states of america within the obama administration, a former u.s. ambassador to the european union. more than that, a card-carrying member of this interesting transatlantic relationship. for you, it goes back to a young lad 30 years ago. is the prime minister we see today anything like the young boris you knew a few years ago? anthony: yes. i got to know him in 1986. we debated the union together

new units will contain assets with a value of $100 billion and a 31% stake in tencent as well as businessesom brazil to germany in industries such as online food delivery and classified advertising. aspers will keep his stake in at least 73%, making onlyhe third largest, dwarfed by unilever and royal dutch shell. type tliv on your terminal for all of the details on the story. traveling to work, tune in to bloomberg radio live on your device or on dab digital in the london area. this is bloomberg. ♪ nejra: this is "bloomberg daybreak: europe." i'm nejra cehic in london. manus: i'm manus cranny in upper darby at the world energy congress. we are on tour but that doesn't stop us from considering politics. president trump has fired his hawkish national security advisor john bolton, saying he disagreed stronger leave many of his positions. news after the recover -- before recovering some ground. this is the 24th event in this calendar. ofning me now, the ceo crescent petroleum. good to have you with me. supply andassess the demand side? can you give me your take at the moment in terms of the dem

company known as tencent outpacing its american arrival in one -- the company known as china's teslaacing them and losing money. it is based in shanghai. a report tuesday is expected to lose $370 million. they have plunged 74% after its market value hit $12 billion. here we go. this company applying for compulsory liquidation. thousands of travelers have been essentially stranded overseas. the u.k. is sending planes to get them. a pile of debt which is not a labeled -- enabled them to pay it back. filing early monday. talks to raise additional funding failed. shareholder in thomas cook. web jets had a deal to source hotels with the company. that is a look at the implications of the thomas cook liquidation in this part of the world. ♪ ♪ ♪ >> it is 10: 20 9 a.m. in hong kong and shanghai, 10:29 p.m. in new york. i'm syncing with the first word headlines. andtart with police protesters who clashed again in unrest continues for a 16th weekend. initial peaceful demonstrations later erupted into violence, with a subway station vandalized. is now bracing for a around theotests seventh anniv

also taking look at tencent.announced to bought back shares for the eighth straight session. that stock up 10% after falling more than 20% last year. also look at saic motor with vehicle cells and august of formed 86,000 here, it all starts with a simple... hello! -hi! how can i help? a data plan for everyone. everyone? everyone. let's send to everyone! [ camera clicking ] wifi up there? -ahhh. sure, why not? how'd he get out?! a camera might figure it out. that was easy! glad i could help. at xfinity, we're here to make life simple. easy. awesome. so come ask, shop, discover at your xfinity store today. tom: it is 9:00 a.m. in shanghai, singapore and beijing. i'm tom mackenzie. yvonne: i'm yvonne man. we are counting down the opening to trade. david: grim trade figures underscored the pressure on china's stimulus plan. yvonne: violence returns to the streets of hong kong. protesters call on president trump to support their democracy drive. insists it isnson brexit or bust. eu officials a recent talks in brussels

from china, how much power they gained, how they have emerged over the past decade, not just alibaba tencentmber of them. this tech economy is an incredible force today in china, and we see china really asserting itself as a world leader in technology. top-down many, many directives for china to become a global leader in technology. the made in china 2025 is one example. the $15 billion china tech fund is another example. paul: you talk about chinese tech giants being more diversified and more acquisitive than those in the u.s.. rebecca: definitely more acquisitive. china has gone into southeast asia in a big way, for instance. and china was investing heavily in u.s. technology, including some of the tech trophies such lyft.la, uber, but they have pulled back. there is an argument to be made that china tech has gone from copying to innovating today. you see new business models coming from china, social commerce, a new area china invented. even the bike sharing that china originated, this idea went global. it was started in china. paul: thank you, silicon dragon in san rebecca fannin francisc

time, we are looking at, there is still opportunities in terms of domestic internet players like tencenttrading at what we would call a china discount because of the trade war concerns. those two companies are still in our buy list as well. kathleen: thank you very much. the u.s. and china actually have that in common, putting a lot of confidence in the consumer. lorraine tan, thank you so much for joining us. you can get a round up of the stories you need to know to get your day going in today's edition of daybreak. bloomberg subscribers go to their terminal. it is also available on mobile on the bloomberg anywhere app. you can customize your settings so you only get news on the industries and assets you really care about. this is bloomberg. ♪ paul: this is daybreak asia. i am paul allen in sydney. kathleen: i'm kathleen hays. china's push to bring new medicines faster to market opens up new opportunities for global drugmakers like astrazeneca which counts china as one of its fastest growing regions. selina wang spoke exclusively to astrazeneca's executive vice president of internationa