again, this is being denied by tencent.ntially tencent says they have no need to raise funds, no need for a timeline for such divestment. you can see the quote there, quote, "we don't have any targeted investments. we have always invested with the goal of generating strong returns to our company but not according to a timeline or target." many of these companies potentially in the divestment scope, they pared some of their losses. shery: chief north asia correspondent stephen engle there. now let's look at the impact from hong kong's moves towards relaxing covid rules, including mandatory photo quarantines. kathryn lam joins us with the latest. what could we see at the market open? >> thanks for having me. this is kind of like an at long last to see some of these reopening moves. however, the market has not been necessarily pessimistic but also not excited about this. the relaxation of the opening has been talked about. we reported it first. lots of media talking about hong kong trying to get rid of quarantine starting in o

one of the speakers -- yvonne: tencent and the soft anchor vision fund. is now is the cofounder and chairman. walk us through how this all works. applying adi to biotech and drug discovery. >> yes. hello everyone. actually, yeah. like we just mentioned, three of our -- [inaudible] four years later, they don't think it's possible for this structure. now you see the success. [inaudible] the industry is open. in the future, i think it will become the founding mantle in the infrastructure of job discovery and environment industry. it's like water in a city. yeah. we start in 2015. now recently, we have our own platform. yeah. david: yeah. one of the big costs, sources of costs for biotech companies and pharma companies is r&d. you apply your ai and hopefully further and improve the process. can you talk to us, from a farmer -- pharma perspective, how much cost savings they can make using your algorithms? >> yeah. i have some explanation by example. listen. a client from the united states is a big pharma company. we put everything plus our own algorithm to sol

david: tencent gaining approval.g and we will preview the next trip >> the stock market does not necessarily reflect the state of the u.s. economy, as you know. the economy is still strong, unemployment is low, jobs are up. manufacturing is good. i think we are going to be fine. >> are you worried about the inflation number? >> no, i'm not. david: there we go. the u.s. president underscoring the strength of the economy. the good news is if you are looking for a buying opportunity, you are probably going to get it today. yvonne: maybe, if you have the guts for it. 2% lower for your hang seng. dollar is roaring back on the back of inflation numbers we got from the u.s. headed in the right direction, but cooling not enough. i guess it was once again wishful thinking that we were leading up to peak inflation and we really woke up to some reality checks here. in the chinese market, we are 1% lower across most encz marks today. renminbi, the strongest bias on record, even feeding out the one we saw last week. we are seeing

the report that tencent will divest, that could weigh on china's tech stock. who will talk to juliette saly about that in a moment. these are questions from nasdaq futures. it may affect hundreds of millions of dollars. that has made the impact of turning around the future session as well. manus: absolutely. you will see nasdaq take a bath. we did make it through 3.5%. that has got a pervasive effect. we are almost 142 the dollar-yen. lowest since 1998. crude market is broken. i just thought we would give you a little bit of reflection on the back of china. china risk. dani: i love that, worse cross asset performance. a good tease there. don't go anywhere. we'll get to this shortly. first, reports from around the world. the latest on central banks, market bubbles and downbeat predictions. manus: then we get the latest on lockdown announcements in china. let's reset to the fed. rates need to be above 4% by early next year and less for some to help cool inflation. let's get to our asia correspondent, enda curran. what did you take away from the message? the soft

tencent aiming to debut as early as next week on the hong kong exchange. this is a company listed in the u.s.. it's share price down 65 percent since it came to the market that -- it's share price -- its share price down 65% since it came to the market there. this according to people familiar with the matter. yvonne: i just think it is interesting, right? when it comes to these audits, they are coming to hong kong in the next few days according to our sources. does it change in any way this whole homecoming sort of trend? i think this is one good indication that maybe not, that maybe it is a bit too late for that. david: hopefully, that does remove some of the risk me them in the market -- the risk premium in the market. the question of the day is how will assets perform if the fed hikes 1%? do we need 1% for markets to calm themselves? >> of course there are risks if the fed moves 100 basis points. it will be seen as an overreaction, and markets will say, why has the fed suddenly become so concerned with everything that they are hiking by that much? the o

tencent is considering selling down stakes to bankroll share buybacks and new businesses.has identified potential investments in a review of its worldwide port olio. -- portfolio. rishaad: having a look at some of those names, all of them down at the moment. and what we have are the likes also of other big holdings, ping duo duo, and others that we are focusing on. we have got tencent music coming to the market. and it is not doing anything at the moment. those shares traded on the hong kong exchange, but unchanged pretty much. david: properties also in focus. equity markets are doing this, in high-yield we are seeing some action. the boycott story that we have outlined, we need home is an open source site where they have regrouped online to express their frustrations. yvonne: we will talk more about pe, the environment, and get more from cambridge associates next. this is bloomberg. ♪ as a business 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

tencent is considering selling down stakes for the likes of meituan.erson said the tech giant has no need to raise funds nor timelines for such divestment. tencent has been expected to reduce global investors over time due to political pressure. china's aviation regulator said it held talks with boeing officials. the 737 max could be closer to returning to service in the country. officials say boeing resolved the issues that were resolved after boeing resolved the issues that were really -- raised in the meeting. they will issue a review to clear the way for the jet to be introduced in china. no timeline was provided. shery: this is what u.s. futures look like at the moment after we saw the s&p 500 fall to that two month low, really mutate in the early asian session. this ahead of the fomc decision, not to mention the boj. coming up in the next hour, find out why bearings chief global strategist says it makes sense to be cautious in the near term. plus -- still thinks rates are heading higher but not in a straight line. terminal users can tune into liv

governance will remain unchanged and tencent will not have veto rights. abu dhabi sovereign wealth fund is nearing a deal to buy fortress investment from softbank. it could value the u.s. asset manager at or than $2 billion. in 2017, it was one of the anchor investors in the first vision funds. aman is mowing the sale of new york city's most expensive hotel. the property could fetch $600 million in ace traction -- in a transaction. it could be the largest sale of any hotel in new york since the pandemic. bank of america is planning new return to office policies. the plan will be based on feedback from staff surveys and will be specific to each business unit. francine: i am starstruck, they are getting the big guns to read first word news. coming up, the uk's new prime minister selects her cabinet and promises major support to tackle soaring energy bills. this is bloomberg. ♪ an xfinity rewards special offer. xfinity customers join xfinity rewards and get an early access code to play the open beta. early access begins september 16th, first on playstation.

tencent is said to more than double at stake in ubisoft buying 30.9% of the gmo's money. move gives the brothers time to get the company back on track and retain control, as governments will remain unchanged and tencent will not have any operational rights. paul: let's take a look at the day ahead for australia and new zealand. second quarter gdp in june, few hours in australia. bloomberg economics sees growth expanding at a rapid pace. heavy rains may have crimped activities in a number of sectors. we are keeping an eye on mining shares, following a bhp statement that a looming surplus in copper and nickel, will give markets a bumpy couple of years ahead. shares of australia and new zealand banking group, after macquarie raised its position from neutral to outperforming. shery: take a look at the aussie dollar, holding steady, this of course after a plunge, after a boost, after we saw the rba raising rates, by 50 basis points. the japanese yen not doing much but i have to say i'm still amazed by the 143 level we are the japanese yen against the u.s. dollar. it continues

tencent is said to more than double its stake, buying 49.9% of the holding company. move gives the brothers time to get the company back on track and retain control. governor stitt ubisoft will remain unchecked -- the governor said ubisoft will remain unchanged. -- china struggles with covid and a weakening currency. that conversation in a moment. stay with us. this is bloomberg. ♪ when people come, they say they've tried lots of diets, nothing's worked or they've lost the same 10, 20, 50 pounds over and over again. they need a real solution. i've always fought with 5-10 pounds all the time. eating all these different things and nothing's ever working. i've done the diets, all the diets. before golo, i was barely eating but the weight wasn't going anywhere. the secret to losing weight and keeping it off is managing insulin and glucose. golo takes a systematic approach to eating that focuses on optimizing insulin levels. we tackle the cause of weight gain, not just the symptom. when you have good metabolic health, weight loss is easy. i always thought it would be so d

tencent, the outstanding company, soaring on speculation a large stakeholder is getting ready to offloadn energy company. yvonne: this is with the brent below $90. sinopec down 5%. coming up, a high net survey gives insight into what big money investors in this region are thinking. more on those findings, next. this is bloomberg. ♪ yvonne: 11:29 a.m. in tokyo, japanese markets are heading into a break. yesterday a 2% game -- gain on the nikkei to 25. 144.11, that's definitely the one thing to watch today. david: beyond that level there is really nothing else, going back to when the bubble burst back when michael jackson came out with dangerous in 1992. when you look at what's happening, it's a reversal of what we saw yesterday. still seeing some dollar strength and some pockets in the region but most equity markets are actually higher. parts of hong kong within that part of the tech space leading that one down. commodity markets, we're looking at oil prices down, commodity markets at the lowest level since about january. you can really see the trajectory of some of these growth stocks. r

tencent will double its stake in that company. altria, closing down 1%. it spiked higher on headlines that juul has reached a settlement with 33 different states. emily: absolutely. we will talk to later. juul agreed to pay $438.5 million to 33 states, this resolves a two year bipartisan pro into the manufacturing practices claiming it marketed addictive nicotine to children. telus has significant this settlement is -- tell us how significant the settlement is. reporter: it is significant. the largest they have had to pay to date. the company has settled a few state lawsuits in washington state and north carolina, this huge investigation was hanging over it. clearly, they decided to be done with this, though clearly there are lawsuits still pending. it does away with lawsuits that could have been filed by 33 states and puerto rico. emily: how much does this resolve the hundreds of other lawsuits? how much of juul's legal troubles go away? erik: it is significant that states have settled, there were still over 2500 civil lawsuits filed by individuals, doze

tencent will double estate that company. also, juul reaching that settlement emily: thank you. juul agreeing to pay $439 million. stay state is claiming that it marketed addictive and negative -- nicotine products to its leaders. tell us how significant this settlement is today. >> very significant. suddenly the largest impact building any the state. company had settled a few lawsuits and had this huge investigation over the meantime. they decided to done with this risk. there are a lot of lawsuits pending this does away with a lot of the lawsuits that could have been filed by these 33 states and recoup emily: -- and puerto rico. emily: how much of their legal troubles go away as a result of this? >> is significantly states have settled. still over 2000 lawsuit and personal lawsuits that have been filed by individuals also, dozens of cases by state governments and school districts. in november, it will show how the jury may react the evidence. see a settlement for its file but there are several states out there york and kelly which have the potential for big settlement, they ha

tencent has won approval for a new game since chinese regulators froze licensing.mong 73 titles cleared by the publication administration. they small arrival also made a new list of approved games. china had a crackdown when regulators halted licensing. saudi arabia says it is adjusting one million barrels a day last month. this came at a reported number since april 2020. the increase follows the disagreement to speed up the return of covid supplies to key consumers and tema soaring fuel costs. -- tema soaring fuel costs. queen elizabeth has arrived at westminster hall where her body will lie in state until her funeral. thousands of people lined the street as the her estimate is way past -- as the hearst made its way past. global news 24 hours a day, on-air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. haidi: we are watching higher prices in the u.s.. consumer prices are less expected in august and old measures coming in above forecast. apparel prices were not immune, jumping 5.1% on the year. as we wait on nu

tencent is up about 1.5%. david: we are seeing some gains across casino plays.re is plenty more ahead hi, i'm denise. i've lost over 22 pounds with golo in six months and i've kept it off for over a year. i was skeptical about golo in the beginning because i've tried so many different types of diet products before. i've tried detox, i've tried teas, i've tried all different types of pills, so i was skeptical about anything working because it never did. but look what golo has done. look what it has done. i'm in a size 4 pair of pants. go golo. (soft music) community (soft music) with materials and technology, to support braille literacy and digital equity. it's the way that our kids read and write, and if it wasn't for that, their worlds would be so much smaller. braille allows me to read with my class. without braille, i could not do my job at mit. it allows me to be connected to the world. to find out more, go to nbp.org because braille literacy, is literacy. rishaad: seeing some gains, equities on the way up. electronics makers at the moment perhaps responsibl

because, in all tencent purposes for new zealand, a representative of the, queen the government, generalthe tasks associated and worth a constitutional monarch and represented is now, on, average about once every five years the queen came to new zealand. perhaps on, average king charles will come at that kind of interval. but otherwise, new zealand's head on with their lives. let me, say there is great respect for the queen regardless of where the people for pro republic or pro monarchy. but, at this time i do not see much political appetite for raising the issues of constitutional status. >> fascinating. >> king charles the third will now be leading this role of course. you have met with him. how do you expect him to conduct himself? >> do you see him treating this role very differently than his mother did? >> he's a different personality, and he has taken up a different set of issues. i personally admire the fact that now, king, charles prince of, welsh took ambition of sustainability, climate action and biodiversity and i think that that will play quite well in new zealand. i think wh

alibaba first time since it became a listed company here, 13,000 losing their jobs at alibaba, 5000 at tencent policy of zero tolerance with any spike in covid, one of the few countries on earth shut down whole cities. reporter: yes. of 30 million. neil: like a "whack-a-mole" thing. then it appears in another another city. the only major country that does this. reporter: i did some travels back to asia this summer, i asked why are there such stringent covid policies and you're killing your own economy. they brought up a great point, in china a population of 1.3 billion, they don't necessarily have the medical resources to handle a huge covid outbreak. neil: it got way out of control, that is the fear? reporter: they're concerned if it goes everywhere they don't have the capacity, hospital capacity to handle those type of numbers. neil: just wild. the only country that does that. keeps people guessing here what else shuts down. reporter: think about travel to asia, hong kong, decimate had economy because of lockdowns taking place. neil: susan, thank you very, very much. we're down about 77 poin

the tool was developed by researchers at the chinese company tencent makers of we chat.ch on tech dot tv. i'm rich demuro and you tech smart. >> cbs has reached a deal to acquire health care company signify health for about 8 billion dollars signify has more than 10,000 employees including physicians and nurses and provides technology to help with in-home patient care, the sale will allow the cbs to continue growing into other areas within the health care industry. back in 2018, the pharmacy chain purchased health insurer. aetna for 69 billion dollars. cbs competitors, amazon and walgreens are also moving further into bad health care sector. coming up in our next half hour, crews have to repair one of the main water sources for most of southern california. what los angeles is doing to cut down on water use. >> and later on a royal visit to san francisco, why the monarchs of the netherlands hope to bring back from the city by the bay. and we're expecting some severe strain on the power grid today. again, talking about those a power grid situations will have more coming up

the tool was developed by researchers at the chinese company tencent makers of we chat.n tech dot tv. i'm rich demuro and you are tech smart. for money. gas prices are expected to continue following after labor day and >> later on this year, some states could see costs is cheap as $3 or less per gallon. but analysts warn that these prices could change at any point, especially if there's a hurricane that could affect the gulf coast are that could also see a spike in oil prices. prices have been dropping since the national average for unleaded gasoline peaked at just under $5 per gallon june. aaa says the price at the pump today was nearly gallons $4 per gallon nationally. let's take a look at our prices here in the bay area. according to triple a napa has the highest average gas price in the bay area with $5.47 a gallon. san francisco, the second highest $5.40 for the 3rd highest is in santa rosa with $5 and 40 one sense the quote, unquote, cheapest fairfield at $5 and $0.19. next. at 3.30, it was a very emotional first day of school for students in uvalde, texas. they we

the average here in our state is about $5.68 , and it was tencent's cheaper just yesterday. a week ago that same gallon of gas was $5.44. well some help is on the way for many californians who have been struggling to get buyers. inflation pushes up prices. state stimulus payments will soon land in bank accounts, adding $10 billion in purchasing power for consumers. ktvu tom vacar crunched the numbers and spoke with them soon to be recipients. individuals making less than $250,000 a year or a half million dollars as a couple will get a stimulus check from sacramento for 200 to $1050. now how much and how soon depends on a formula which considers your income in 2020 how many dependents you have and what the franchise tax board and there was about you. so if you already got golden state stimulus check last year by direct deposit, your stimulus will come to you between october 7th and 25th. everyone else will get their direct deposit between october 28th to november 14th so long as they're banking information is held by the franchise tax board. those who receive stimulus debit c

i do not think we can count on a company such as tiktok or its parent, tencent, to do anything to address the problem at hand. to be honest, this committee is uniquely placed to address this problem of transparency because the subsidy power that can be used here would require tiktok to open up its emails, show us what is going on, and what the china-based executives are saying with the american executives. sen. romney: i share your view on that regard. i question whether we should allow an authoritarian regime to have a social media capability of the scale they have in our country together the data they have. -- to gather the data they have. i have a lot of grandkids these days concerned about their exposure to social media, and other countries figured out a better way. a better way to try and reduce the draw and the compelling nature of social media. i understand between various tiktok segments, china has a five second gap where the screen goes blank. are we not doing what other nations are doing to protect our kids? i will let anyone respond to that, maybe brian. mr. boland: it is a tri

that part tencent from doing xyz. it's education. it's getting out. it's connecting through his speeches, through academic interactions, to make sure that those connections are clear. >> didn't that's what a role? >> i do. can i ask another question? i assume you're going to play an active role in that process. when you talk about how the department will use the most of any sort of poll so you can with the money that we are lucky to, your be more claudette efficient with us and get more things accomplish? yes sir, with the help of congress, the chief of operations has been designated as the first architect. i have a further responsibility to be the d.o.d. in the greater, this gives us an important leadership role in setting the requirements and working with the acquisition committee to make sure we meet those requirements based on all the capabilities that are available to us. spaces sums command is convinced that if we have the ability to exploit existing capabilities, that would be great. we also have to be able to then by commercial capabilities. i

jonathon: futures at two tencent 1% on a 10-year.radio and as seen on tv, this is bloomberg. ♪ millions have made the switch from the big three to the best kept secret in wireless: xfinity mobile. that means millions are saving hundreds a year with the fastest mobile service. and now, introducing, the best price for two lines of unlimited. just $30 per line. there are millions of happy campers out there. and this is the perfect time to join them... add a line to your existing plan, or see for yourself how easy it is to save by talking to our helpful switch squad at your local xfinity store today. so many people are overweight now, and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now there's release from golo. it naturally helps reverse insulin resistance, stops sugar cravings, and releases stubborn fat all while controlling stress and emotional eating. at last,