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Bloomberg
Dec 18, 2013 7:00pm EST
gave a bullish full-year outlook. as shares of the u.s. movie theater chain controlled by china's second richest man rose five percent. -- the ceo was on hand at the new york stock exchange to tout the importance of movie theaters. day, the end of the inflation in ticket prices is less than the rate of inflation over any period of time you want to look at. we continue to be pretty good value proposition for couples and families to come out. the idea is delivering value. some of the experiences are more expensive to deliver so they will be higher-priced. some are not. we will moderate according to the experience and the supply and demand in every one of the markets. such as citigroup and bank of america and dunkin' brands whose ceo sees big expansion ahead. i used to work at blockbuster and papa john's. we knew everything about every customer it goes -- because you had to either rent a video or deliver a pizza. you had their name and address and all that. this industry has never had to do that. every consumer was just another person. we have got to get beyond that. we are the leade
Bloomberg
Nov 17, 2015 12:30am EST
now and then. the volatility of the markets came because of china. that could still indicate that plentyis time, there are of risks out there. on the basis of what we know at the moment, it seems like it is the most likely scenario. attacks, asris tragic as they have been, to they not distract the fed from what they are doing? kristin: we have to closely watch if there is an impact anna: on consumer spending. kristin: on consumer spending or consumer confidence. is the firstaction saycation that unless we more attacks, it is likely to be a relatively short-lived thing. politics, we have discussed much wider implications. particularly, across europe. anna: back to the markets and the fed. treasuries markets, volatility has decreased to their lowest levels. when you look at currency the euro has its tightest range. kristin: i think you could interpret it that way. that's again, it may change. markets can be very fickle. the fedpeculation that will move comes into play, we have these important meetings. the december opec meeting and the ecb meeting. we will get a lot of data between
Bloomberg
Dec 4, 2013 7:00pm EST
president met in beijing as tensions over china's decision to enforce a rattled thense zone region. we have the details. >> vice president biden did not directly address china's air defense zone after his meeting but there was little else people in the region have been focused on. they are in the midst of walking a diplomatic tightrope. it is something biden made clear as he sat with xi after the meeting. call complex relationships for sustained a high-level engagement. that is why the president of united states asked you to be here. >> u.s. officials say behind closed doors biden laid out the obama administration's objections in detail and called on him to reduce the tensions. it is acial said territorial dispute in the region. he was going to hear biden out. what he decides to do it that remains an open question. shred ofng came with a positive news. it came from the chinese government. an offer to set up communication channels between china and japan. it would be a shift for the japanese who have refused to acknowledge the air defense zone's existence. what continues to suck the oxy
Bloomberg
Nov 15, 2015 5:30pm EST
. president xi jingping of china, president obama, arriving tomorrow. given what has happened in paris, what philippine authorities have done is they have increased the alert status to the highest level. what that means is that it is a matter of procedure -- they emphasized that it is typical when you have a defense following international terrorist attacks. when it comes to are they monitoring, have they seen any credible threats, they are saying no, not at the moment. they don't think the groups you would associate with the philippines would be capable of doing something like that. i was reading the local reports and they say isis has a very's will present if any in manila. they want to be over prepared rather than take the blame of being underprepared. there is a total gun ban across metro manila. you look at what they did on saturday, a dry run with drills at the convention center. the leaders summit will be iting place on thursday, and is about 15-20 minutes from where im in the financial district. back on point, the convention center -- there is a security drill, paratroopers dropping
Bloomberg
Nov 15, 2015 11:00pm EST
by half of 1%. 1%.nikkei 225 down by a weakness coming through there. korea down by 1.2%. china and hong kong on the lunch break at the moment. the hensing -- the hang seeing has been underperforming in the region as well. -- hang seng has been underperforming in the region as well. firmsof the brokerage under pressure. resources, one of the weaker stocks on the index. elsewhere, fears about the terror attacks going to hurt tourism, so we have seen a couple of warnings from the taiwanese government and the australian government warning there citizens to avoid unnecessary travel to paris and surrounding areas. australia,ining in it has been a strong performer, also boosted by its quarterly output numbers. let's have a look at that gold price and other safe havens. the japanese yen has been in focus today. gdp down out of japan. this move out of equities and into safe havens. the yen is up by a 10th of 1% at the moment. rallyingprice has been as well as investors look for somewhere to put their money into. flaturse, we are seeing a bond. australia, bond in the yield is down by 3%. u.s
Bloomberg
Jan 8, 2014 7:00pm EST
china. the ice and snow festival holds the snow sculpture festival in one million people are expected to visit.♪ >> something you don't see every day, steve cohen talking about insider trading. we are bringing it to you as a trial for halloween -- a trial for a former sec employs getting underway. the document tree includes never before broadcast video -- documentary includes never before broadcast video. >> that is not the way it is explained to me. it is very vague. it is an interpretation of the law. >> you can watch the episode on pbs.org. >> what is really important about what he said is the word "interpretation." the reason executives don't nail these details is because there are no details to nail. i have done that. you do that at all three levels and regulations. insider trading is an incredibly squishy and purposefully squishy area. >> technically. he was being asked on a very broad aces, can you trade on the material and not public information? >> that is not what i heard. >> he was being asked indirectly , maybe not as clearly as you would've asked him. at the end of the day
Bloomberg
Dec 6, 2013 7:00pm EST
of state, dr. madeleine andight, will discuss china iran. up next, business competition can be a contact sport. we will meet one ceo who was taken a challenge literally. she takes on her rivals and elbow pads and skates and the pack -- in the fast-paced world of roller derby. that and more when bottom line continues in just a moment. ♪ >> micki krimmel is the founder and ceo of neighborgoods.com. she has an above throwing a few elbows to get ahead, especially should -- when she is competing against roller derby players. she has made traction in the roller derby team. she thinks that women should play a because it gives him the confidence they need to succeed in the aggressive world of business. the am micki krimmel founder of neighborgoods.com. when i am not working my passion is playing roller derby. i am obsessed. i love the aggression. i love the competitiveness. a bubble that, i love my team. above all all that -- that, i love my team. 9322.orgoods.com let's neighbors share. you're constantly getting hit down, but you have to get back up again. if there are losses here in e
Bloomberg
Nov 16, 2015 12:30am EST
weekend that china's imf'ss set to join the exquisite club of reserve currencies. staff have recommended that the yuan be included in the drawing rights currency market, along said the euro, the pound, and the yen. let's get more from beijing. tom, too good to see you. this news broke late on friday in european time. is the move likely to be seen as significant? is it's going to result in a significant volume of funds flowing into china? tom: that is the big question. the interesting thing about the imf decision is it doesn't necessarily drive any shift in fund flows. central banks don't have to move funds into yuan. i think the argument rather is that this is going to be a catalyst, a moment where managers of global foreign-exchange reserves, big bond funds, corporate treasuries , marie the currency composition of their fund and think if they need a little bit more of a currency whose economy has such a large weight in the global economy, and where yields look attractive relative to low returns available in the u.s., major european countries, and japan. anna: what does this mean for the
Bloomberg
Jan 7, 2014 7:00pm EST
first profit decline in nine quarters. new apple iphones and cheaper devices in china have been eating into sales. blackberry 10 remember them? there trying to put their best foot forward at ces. good luck with that. the company under new leadership is trying to get back to its roots. >> i think there are enough -- in a market. i will not confirm or deny. i personally love the keyboards. you will look to blackberry going forward to the boards -- keyboards, i would not use the word exclusively, but predominantly. the new chief -- of blackberry john chen speaking with jon erlichman. they're going back to the that blackberry loyalists love to much. >> ron is a very creative guy. what impressed me about him -- he could take a phone, you touch a phone. he will look at a phone 30 yards or 40 yards and he would tell you a lot about the phone. i think he is more in touch with not only be technology designed to make a phone great but how people like the phone. >> ok, he is a phone guy. full technology is a big theme at ces. john ehrlichman takes a look. >> we have heard of google glass and sams
Bloomberg
Dec 16, 2013 7:00pm EST
headline coming out of that visit involves china. what can you tell us? that anytell you headline coming out of the region especially concerning geopolitical concerns will always have china justice scalia how important they are. -- just to show you how important they are. unilaterally china pulls one right next to the sea. what secretary kerry is saying is that china shouldn't make a move to replicate that. china is locked with disputes in countries like -- in that region. the u.s. is strongly opposed to aggressive tactics of any country to advance the territorial claims. his visit to south east asia and vietnam simply reinforces that -- u.s. support. >> thank you for joining us. let's talk cars in the future of one automaker in particular -- general motors. they officially emerge from the government bailout. the last part of the loan was sold off last week. the ceo is speaking out about 2014 and beyond. some of the topics -- a factory upgrade. the company's first female ceo in a potential dividend. su keenan has the details. ceo covered all topics as he talked about the comeback for the
Bloomberg
Dec 10, 2013 7:00pm EST
nelson mandela's memorial. china's xi jinping chose not to go. what was the reason? >> china did not send president xi jinping. instead, it sent the vice president. the spokesperson for china's foreign ministry said that it shows that china attaches great importance to south africa's funeral arrangements. we understand that president xi did express his deepest condolences over mandela's passing. to give you a sense, some of the people we are talking to say that xi didn't go because he had high-level economic meetings pertaining to these most recent financial reforms that he must attend to. others they that it would send the wrong signal to the chinese people, that china would support a man who after he came out of prison was able to rally the troops around a message which is centered on freedom. all of this as he went -- those are two sides of the story. to memorialize mandela. >> mia saini from hong kong, thank you. plane may look a lot like the 737, but it is a military aircraft equipped to want submarines. it has employed several of the airplanes to japan to increase u.s. military
Bloomberg
Jan 9, 2014 7:00pm EST
rare and highly exclusive. it is unique. >> your biggest markets are the united states and china. how big can china be? >> we have seen last year growth and china, 11%, which was excellent. >> that is how many cars? >> a quarter of our worldwide sales come out of the chinese market. that is the same level the united states is. then comes immediately, so there are three main strong pillars in our business, including luxury. >> china could be much bigger? or you think slowdown? >> we are always building one car less than we could sell. let's wait and what happens. >> the interesting thing is the race, how it has been doing. you introduced it in the spring. started delivering at the end of the year. how are sales going echoplex excellent. we have sold out in june of this year already. it is fantastic. the car brought us a lot of new customers we've never seen before. very much younger customers who love sports cars in other lives. that is excellent. also, it opens up a new segment for us. >> let talk about the fandom for a second. this starts out half $1 million. what was the most expens
Bloomberg
Dec 13, 2013 7:00pm EST
york city, it is in china. we will tell you how much it will cost to live in beijing these days. that story and more when "bottom " continues in just a moment. ♪ >> welcome back to the second " on hour of "bottom line bloomberg television. i'm mark crumpton, thank you for staying with us. let's check on the markets. stocks were mixed today and posted their second weekly loss in a row. indexes reached record highs as recently as monday, but then they declined. the s&p 500 index was down fractionally, finishing the day at 1775. 10th of aones was a percent today. the nasdaq finished up around 4000. the indexes show that they were all in the red. the topeck some of stories we're following for you at this hour. today was the last pay for public viewing of nelson mandela's body in south africa. police had to turn away thousands of mourners due to the long lines which stretched for miles. he will be buried sunday in a remote village that was his childhood home. security will be tight as dozens of heads of eight are expected to attend. space station astronauts may get their christmas
Bloomberg
Nov 16, 2015 12:00am EST
attacks. china airlines, down on the session, and china southern was one of the big movers as well. let's check in on the commodity markets and tell you how those are moving. 122.50, butding at still, the yen advancing on this safe haven play. intermediate, $41 a barrel, and the london brent benchmark looks like this, $44.99, and gold advancing as investors seek safety wherever they can. it is a global market reaction to these terrible events. guy: thank you very much indeed. global leaders have been speaking about the events on friday night, and understandably, they've been condemning what happened here. >> france is strong, and even if it can get hurt, it always stands up again, and nothing will be able to hit it, even though grief is all around us. friends is solid. friends is active. france is brave, and it will triumph over barbarism. >> we, your german friends, we feel so close to you. we cry with you. we will fight with you against the ones who did something so income perhaps a ball. why thoughts go out to the more than 120 people whose lives were taken and to their friends
Bloomberg
Dec 17, 2013 7:00pm EST
product into china. so it might help. it is going to allow the owner to have a better relationship with some of the studios in the u.s. thatve seek and transfer into china. >> we have 30 seconds, talk to me about the growth potential in the theater chain industry. >> it is generally a slow growth story. total attendance in north america to movies has been flat. any growth we have seen has really come from additional screens being added in certain markets and by price increases. a big help because it allows them to increase ticket prices. the more movies in 3d, the better it is for the theater operators. >> paul sweeney, talking about the ipo involving amc. as we mentioned pricing at $18 a share. good to see you again. mania.up, drone 24 states are competing to see of drones could be used for business purposes envisioned by amazon. can the system deliver the goods? we will look at that when "bottom line" continues in just a moment. ♪ >> jeff bezos is not the only one with a the idea for commercial drone used. two dozen states are competing to run the centers for testing the techno
Bloomberg
Dec 20, 2013 7:00pm EST
. max baucus will be designated the ambassador to china. he has been the leading democratic voice in the senate on trade. what effect will this have on any trade legislation next year? fast track. will anything happen question mark >> i talked to max yesterday. we are going to try to get some things done before he leaves. the president wants trade authority. this is the first in administration that did not want since fdr until march this year. -- ttp, the transpacific partnership, has to follow. i don't think we can negotiate the final agreement without letting them know we have a fast track to get this done for a yes or no vote. we have to start with the tpa, clan, then wethe can deal with the transpacific partnership. >> max baucus has been the champion of tax reform. that is dead now? >> on trade and taxes, i would make the obvious point that ron wyden is the likely successor as chairman of the committee. i spoke to him about this today. he is interested in the trade agenda. he always has been. he believes in trade. he thinks we need to knock down barriers. on tax reform, he has b
Bloomberg
Apr 10, 2015 6:00pm EDT
quote total comp to $31 million last year making him the highest-paid u.s. bank ceo. china is using a new tool to disrupt access to foreign websites. researchers at the university of toronto say the deployment of a new system represents a significant escalation of the chinese government's great firewall of china. the report says the system, this one is nicknamed the great
Bloomberg
Jan 23, 2014 6:00pm EST
china's own censorship machine. and the pace of the tech sector expansion. will hearsten -- we about lenovo's plan to buy the server for $2.3 billion. but regulators question is once announced josh just announced deal. -- just announced a deal. not off-line during its outage, a cost billions. will this scare off investors? hundreds of millions of chinese consumers and businesses themselves without much access to the web. this lasted at least 45 minutes but took as many as eight hours -- to refreshe service. .nets were out of wereess, alibaba and baidu unavailable. this was linked to an obscure country -- company in wyoming. who is responsible for this? the chinese government blames this on a hack attack. but others say the chinese government caused this outage itself trying to block content. -- ande from germany bloomberg's jordan, who covers cyber security. this obscure web address in wyoming, this is a very fringe aspect of this, the traffic that all of these consumers and businesses were trying to do ended up going to wyoming. >> it was going to enhance site -- anti-censorship ser
Bloomberg
Dec 23, 2016 8:00pm EST
>> coming up on bloomberg best, the stories that shaped the year in business across asia. china's economy showed signs of stability even as growth sometimes seemed to sputter. >> i think we have a hard landing in the stock market already. >> the old economy drivers are back in action. it's the new drivers stalling. >> japan's leaders went back to the stimulus well again and again with mixed results. >> we have to continue our monetary policy. >> japan has become a test tube for the rest of the world. >> it was an eventful year for asian companies. smashing successes to corporate crises. >> this is a huge deal. >> asia made its mark on global markets as economist reckoned with the region's ups and downs. liters 16% growth, you get 6% growth. t-rex you can't have your balance sheets grow faster. >> join us for a look at the best of 2016. just ahead. ♪ lau.llo, i'm angie have this program, we will all the news we brought to you on bloomberg asia in 2016. as the year began, china was the focus of concern for investors around the world. growth, aout slowing sliding currency, and an e
Bloomberg
Nov 8, 2017 11:00pm EST
between the state of andka and the sinopec -- the bank of china, 45 billion -- $45 million there. of course, the broader figure that was talked about this morning was about 250 billion u.s. dollars. so far, some rough math -- will if we get more details on that. could come back -- come out any morning. -- any time. >> the other elements of this is whether or not the administration will use the one as a punching bag -- the war on yuan is ahing bag -- punching bag. there's a different picture than when donald trump took power. you are looking at a molar -- a more volatile currency. yuan, in terms of a more flexible future, also intact. you are looking at the trade imbalance angle, which remains contentious. the key question to ask here is how much room there is to negotiate on that front. it's been a key component of the rhetoric from the white house. it's been a sensitive part of the conversation, hasn't it? >> absolutely. we were speaking with a former u.s. ambassador of china yesterday with the context. focus onfoot -- people $223 billion tree trade deficits a far this year betw
Bloomberg
Jun 5, 2014 11:00pm EDT
>> the chinese smartphone maker xiaomi has great ambitions. already more popular in china than apple and with a staggering $10 billion. now china's number three smartphone maker is going global, launching into new countries this year. will it become apple's biggest threat in china? we reveal its secrets in this "bloomberg west" special. welcome to this special edition of "bloomberg west." it's one of the fastest-growing tech markets in the world. we are talking about a company that is only four years old and already sells more smart phones in china than apple. we will take an in-depth look at its meteoric rise, its charismatic leader and his ambitious global plans. let's start by bringing in cory johnson and brad stone who will be with us for the hour. brad interviewed the company executives. "bloomberg businessweek" takes an in-depth look at technology companies outside of silicon valley. you spent 10 days there, that is a long time. this company is called the apple of china. is it really? >> in a lot of ways, it is. it is a relatively new company that has built a brand that c
Bloomberg
Aug 25, 2015 6:00am EDT
central bank to raise rates this year. he admits the matter is complicated by china, oil prices and a stronger dollar. or cleese says the fed probably will not raise rates until next march. -- barclays says the fed will not raise rates until next march. china is who donald trump blames for the market turmoil. they want president obama to cancel next month's visit by xi jinping. walker blamed the market tumble on what he called china's manipulation of the economy. he said president obama should cancel the visit. donald trump said he would give him a dinner, a mcdonald's hamburger. get down.'ve got to yuan, devaluation of the changes in currency, it has been an unbelievable market run. there has been a shift in gdp in the u.s. in the last two quarters. normal market a correction. but i'm still a long time believer in the stock market like warren buffett says you have to look at a long view. brendan: watch the interview with salesforce's mark benioff at 4:25 eastern on bloomberg television. portfolio gotyour hammered, the world's 400 richest people lost $124 billion yesterday. the bigges
Bloomberg
Jul 3, 2014 1:00pm EDT
chinese phone maker xiaomi has big ambitions. only four years old, already more popular in china than apple and worth a staggering $10 billion. now, xiaomi, china's number three phone maker, is going global, launching in 10 new countries this year. so how have they become apple's biggest threat in china? we reveal the secrets to xiaomi's success in a bloomberg special, "xiaomi rising." welcome to this special edition, i'm emily chang. it is one of the fastest-growing companies in the world. one of the fastest growing tech markets. we are talking about xiaomi, a company that is only four years old and already sells more smartphones in china than apple. we will take an in-depth look at xiaomi's meteoric rise, its charismatic leader, and the global plan. i want to start by bringing in cory johnson and brad stone. brad recently traveled to xiaomi where he attended the mipad tablet launch. and interviewed xiaomi executives. an in-depth look. you spent 10 days there. that is a long time. this is a company called the apple of china. is it really? >> i think in a lot of ways it is. in just fo
Bloomberg
Aug 16, 2016 11:00pm EDT
doubling down in silicon valley. tim cook spending for survival in china. the apple chief vows to invest even more in one of its most challenging markets. google fires a shot at apple, and facebook in the mobile messaging wars. is it too late to catch up to some of the most popular apps in the world? ford pulls back the curtains on his ambitions and autonomous driving saying is developing a fully autonomous vehicle for ride hailing services in 2021. it would have no steering wheel. it is one of the last major automakers joining the push to automated driving. now they are pairing up up with bidu, both investing $75 million into a start up making the technology that helps cars understand their environment. it is doubling down its headcount at the palo alto research facility. but ford has not struck a partnership with one of the big startups like uber or lyft or apple or google. i caught up with mark fields and began by asking what he considers partnering with a major tech player. mark: as we look at the technology and the roadmaps, there are things that others do better than we do.
Bloomberg
Oct 19, 2015 5:00am EDT
>> the slump in oil prices bites into the budget. china's gdp grows by that of an -- better than expected. good morning. this is "surveillance." . join me from new york is tom keene. we've got a lot going on. china's gdp is front and center. it's a huge deal. right now, we need to get to our first word news. isnie: china's economy staying close to the forecast. slowest poorlyhe expansion since 2009. that is set to off set exports. the chinese government wants it to grow 7% year. thed is taking site at biggest play since the civil war. they are backed by a ring in special forces and russian airstrikes. wave ofuld be another refugees heading west. the palestinians are giving up a wave of attacks on israelis. one israeli soldier was killed and 10 people wounded. the attacker was shot and killed in police say they shot and killed a foreigner by mistake. the iranian nuclear deal has now taken effect. all sides will have to start delivering on a promises they made. that means a limiting 95% of your rich -- enriched uranium stocks. the west is getting ready to lift economic sanctions. t
Bloomberg
Jan 7, 2016 11:00pm EST
falls away. bring back the circuit breakers. should china have waited longer before ditching the safety valve? the man who invented the system says beijing got it wrong. an extraordinary week for global markets. europe and into asia and beyond. david: mid day and the way things look right now for equity markets here in asia it looks to have fizzled out at least in our time. you can see just about every single sector group. on the way up. volumes of action picked up. it indicates that buyers are back to some extent. groups?-performing oil and gas. industrials as well. consumer services. china, the big winners here apart from every single sector on the way up. the steelmakers doing particularly well. we are looking at gains here on the order of eight to 10%. some of the bigger names. industrial metals. a local report that we might actually see some support within this beleaguered sector. a lot of people calling it serious overcapacity issues for steel. finally, the chinese currency. it has been fairly stable. it has been quiet. this was the markets show pill. the offshore rate came awfull
Bloomberg
Jun 26, 2017 11:00pm EDT
forum in china. we take you there live. >> we are waiting for lines out of dalian. we will get the news as they make their way on the terminal. let's see what we get. markets mixed. 43% up, 43% down, the rest unchanged. cross assets, looking like this. most on the way out. we are basically flat. no pickup in volume except for taiwan and china. have a look at these stocks leading gains. one standing out to the downside , but next across the currency space. commodities, the big story gold. it was a story. you had goldfinger, if you will. prices have recovered a little bit, but still $10 before the price plunge yesterday. sovereign bonds coming yields on the way down across the board. was a market event yesterday with a cold, but you put everything together and scale it here, near theme lowest levels on record, so does a really change a lot of things. a great chart here. talking about china here, what we have seen, the csi is down about 900 points. we have seen four straight gains into monday. as you see, pulling back a little bit, but a pickup and volumes right here. let's see how it
Bloomberg
Aug 27, 2015 4:30pm EDT
have one that $129.n lower, it is for markets that are upgrading from low bandwidth to 4g lte. china is a huge market for apple. it's also a huge market for xiaomi and the samsung. apple be worried about the state of iphone sales in china and the incoming competitors? >> they have always based a lot of competition in china. like i said, they have always xiaomi,position from lenovo, but the just issue now is the overall slowing economy in china. competitors are asking themselves, should they extend , really subsidiaries trying to export that market, or are they going overseas, and that is exactly what lenovo and xiaomi have done. they have chosen india as the next market, because they realize maybe the more saturated markets are not enough to boost their profits for growth. i saw a interesting numbers on the apple watch, more impressive than a lot of people expected. in thelion apple watches last quarter. break it down and what it means. crawford: what we saw is this 120%, so thisded is the classic situation where category buster. they are coming in and redefining the category. in we bel
Bloomberg
Sep 14, 2015 4:30pm EDT
emily: investors grow even more cautious about china's economy, but -- but could its growing internet industry give beijing a much-needed boost? i'm emily chang and this is "lumber west." alibaba fights back against the critical article. want to build a self driving car? tom-tom says no problem. and preparing to take san francisco with dreamforce. china stocks slumping the most in three weeks. industrial output rose in august that -- but fell short of estimates. it increased at the slowest pace since the year 2000. all of this ahead of the chinese president's first state visit to the united states and the big tex summit in seattle organized by the chinese government. joining me to talk about all of this is carmen chang and matthew prince. a jointannounced venture with bart. you have announced this big partnership with baidu and you guys don't even operate in china. have theher hand, you ceo saying everyone is underestimating the capacity of the internet boom in china and don't understand the online to off-line world. there are 700 million internet users or one out of every fo
Bloomberg
Aug 19, 2015 11:30pm EDT
prohibited by the constitution. emily: still to come, airbnb is looking for a ceo in china with the help of two chinese the sea firms. plus kik joins the unicorn club. why he thinks he can play with facebook and snapchat in the big leagues. ♪ emily: now to a story we are watching -- the president of soft tank is making a big wager -- they will purchase $483 million worth of company shares what he calls a personal but. -- bet. when the transaction is complete, he will be the second against shareholder after the founder. to airbnb -- the startup is joining a list of us-based companies expanding into china. in a statement, they said in just the last year, how down -- outbound travel from chinese guests has grown 700%, making it our fastest-growing outbound market. airbnb partnered up with two chinese venture capital firms. the first order of business is to hire a ceo for airbnb and china. joining me to talk about that -- you are meeting with airbnb this afternoon. what makes you think airbnb can succeed where so many u.s. tech companies have failed? guest: in china, you are seeing with the s
Bloomberg
Oct 17, 2017 11:00pm EDT
highlighted that as well. thisere always exists unspoken tension that takes place in china between the private sector and state owned enterprises, and that takes me to a phrase that we keep hearing him mentioning on and on and on ,ince he started that speech which essentially means opening up and reforming the economy. he's talking about the fact that we also need to strengthen the state sector in china. does that in any way in your view indicate that he might the taking a step back from reforms? >> it certainly does not deviate from what we have heard from many in terms of outlining the reform process should be viewed through the prism of what the communist party sees as the priority for the party and for the chinese nation. not take the same shape or flavor as many in the west would expect. the fact that he said we need to see a strengthening of the state sector, not a breaking up of the state sector, not an abolishing of some parts of it, not freeing so thatof these sectors enterprises can play a greater role, but building stronger state owned enterprises, and that ties in and c
Bloomberg
Jan 20, 2016 6:00pm EST
banks, and there is chatter about what the ecb might do, what china might still do, this will continue. this wild volatile ride will continue. also questions about whether the u.s. could boost its strategic oil reserves, take some oil off the market. it is accepted that the fed is not going to touch rates when they meet next week. there is a growing view they never should have started us on a path toward higher rates. >> i was not somebody who thought the fed should have been raising rates quite yet. i would like to see a little more certainty in the global economy and i would like to see -- : we got a new round of economic data. the cost of living in the u.s. fell in december. we are having no inflation here, a separate report shows new-home construction unexpectedly fell. a very tough picture. angie: a quiet day here for us in the eco-front, but on the equity front and the volatility front, things are shaping up to be kind of messy in the asian session. haidi: angie, we are anticipating what a battle inween different sentiment asia. thise one hand, you get sense of fear feeding into
Bloomberg
Jul 6, 2016 11:00pm EDT
we'll take a deep dive into china and the next. trend, what's two all-star chinese tech investors join us for an in depth conversation. coming, soergers are ays the former -- the consolidation is coming and also fears it will cause creativity suffer. the cbs -- thinks recent deals make sense for both buyers an sellers executives among many attended the annual conference with otherey, idaho, titans. forget winter, mergers are coming, or so said barry diller, who believes the consolidation is coming and also fears it will cause creativity to suffer. the executives among many attending the conference in sun valley, idaho. you have been killing it. i have been to this conference a couple of times. it is sort of amazing, the giant heads of business and media business and tech business who gather there. >> we watched as folks came in yesterday and it is a broad swath of people, so you do have executives from tech, entertainment, and media. they tend to mingle very organically. you do see folks talking, going to get coffee, and we on the outside are left wondering what they have in talking ab
Bloomberg
Sep 1, 2015 4:30pm EDT
marketing -- million.uities off $2 for more perspective on china, let's bring in the chief investment officer. if you come inside my bloomberg terminal, what you see is the shanghai large-cap shares, and alex and i were looking at this earlier. around 2:00 p.m. you see a move up. over the last four days, we've seen this move up, and that would be intervention in the stock market from the government. in 1997. asi think the national team the government is down in china has been propping up the larger cap names. at the same time you're seeing a pretty massive selloff within the small cap names. there is some order to the madness in terms of valuations going from a peo 130 back below 60, whereas the large-cap names with just a pe of over 20 are down to around 13 right now. in addition to the government coming in later in the day, we -hong konghe shanghai stock connect. we did see in a day trading where foreign value buyers were coming in and buying the large-cap blue-chip names as well. it wasn't just the government. alix: what happens after thursday? many have speculated they are proppin
Bloomberg
Jan 23, 2014 1:00pm EST
innovation and the future of business. there's been a massive internet outage in china. perhaps the biggest in the country's history, affecting hundreds of millions of users. what we can tell so far is that dot-com addresses went down across the country, including ome of the biggest websites, nd dot-cn addresses were not affected. all of this happened tuesday, january 21. here's a time line on what we know so far. 3:17 p.m. local time websites began to be affected. 3:3 p.m., millions of users at that point were unable to access various websites. by 4:00 in the afternoon, connections started to be restored. however, at some places in china it seemed like the internet was out for many hours. we've seen reports out for up to eight hours. our editor at large, cory johnson, with me now here on the set. part of the reason there may be such a discrepancy in the time is some of the servers in china may not have refreshed after eight hours in those second and third-tier cities. >> fundamentally, i think what happened the last 24 hours we had arguably the biggest shutdown in the history of th
Bloomberg
Jan 7, 2016 6:00pm EST
the s&p 500 cap's its worst ever start to the year as the turmoil in china sends around the world. 29 minutes of chaos, even by shanghai market standards. thursday was exceptional. bill gross expects more of the same today. and stock circuit breakers, the man who invented the system says beijing got it wrong. welcome to "first up ." i am angie lau. let's check on the markets in asia. to australia we go. it starts here, 1% down, the aussie dollar at $.70. new zealand trading for about two hours now and here's the play. it is close to about 1.5% down. the new zealand dollar continues to weaken, $.66. looking at japan and korea, let's get to japan, the nikkei 225. another day of losses extending it past the 2% mark, below 18,000. check out futures in chicago, pointing to yet another lower open. the dollar-yen right now is strengthening. it's about safety plays. 2015 is turning into quite a year. it's only a few days old though. of you watching from the u.s., just a few hours ago the global selloff showing no signs of letting up. indeed, the s&p 500 capped its worst ever start to the
Bloomberg
Jan 19, 2016 5:00am EST
been 26 years since china has seen such slow economic growth. the trent this morning is in the wrong direction. markets find a business this morning. oil hovers below three dollars a barrel and on bloomberg surveillance, gary shilling on the continued repression. ind morning, i am tom keene zurich, switzerland. with us in new york is vonnie quinn and in london, caroline hyde. we see volatility this morning. yes, this is bad news being good news. playing into this we have breaking news from the imf to download global growth outlook. we have the global growth is 3.4 percent for 2016. that is down. they are also altering the 2017 outlook. but there is some strength from germany. tom: that is the conundrum. we see good economic data but at 3.4%, it really underscores her theme from two years ago, her new mediocre. caroline: commodities are the key area. get our first word newsflash. vonnie: good morning. china's economy has an crohn's in 25 years. last year, they crew the least since last year. the fourth quarter was the weakest time since the recession. they're blaming production
Bloomberg
Aug 12, 2015 10:00am EDT
fears that china's yuan intervention could spark a new currency war. analystsme in below estimate for macy's, cutting the sales forecast for the year. macy's claims a strong dollar and inventory backlog. you'll hear straight from the ceo. sinks as well-- as the saturating the chinese market. the stock is trading at its post ipo lows and now jack ma is announcing a buyback. matt: good morning, i matt miller. erik: overnight, the chinese yuan devalued by an additional 2%. the ripple effects continued through financial markets worldwide. that's have a look at what is going on with u.s. stocks. the exchange that is new york stock exchange and the nasdaq open for business officially about half an hour ago. here you can see the s&p 500, 2064. declines were little more accelerated in excess of 1% on the dow and the nasdaq. quick ship to europe to show you how those markets are faring considerably worse on the euro stocks. matt: gloom and doom. .rik: 3.2% the list goes on. not just germany or france, you can see it in spain and italy and -- matt: it is not just the chinese currency move,
Bloomberg
Sep 1, 2015 10:00am EDT
, we are not growing really fast, and everybody is waiting to see how much this damage is in china. set timer 17 as when they put out their gdp numbers for the third quarter. -- september 17. olivia: we know it will be 7%. michael: that is what they tell us. i want to bring in our editor, mike regan who is also in studio with us. catalyst forat the the selloff is china, what are you hearing? manufacturing the data from china but also the week market there, the shanghai composite was down almost 5% at one point during the day. reported, the government comes in later in the session and tries to prop the market. all they could manage today was a drop of 1.2%. even with the government intervention, they are having a hard time keeping the stock market afloat. the other story is the volatility itself becomes a catholic -- catalyst for the market. tracy alloway has an interesting piece on bloomberg.com about risk-parity funds. as volatility picks up, these funds pull in their leverage. they have money they borrowed to buy assets. they pull back on that because volatility is higher than what th
Bloomberg
Jan 20, 2016 11:00pm EST
about oil and the u.s. economy as well. around the region, china joining in on the equities rally. shanghai up by .5%. malaysian stocks and kiwi stops are the only ones in the red at the moment. session, we are off session highs by quite a bit. the last time the nikkei was in a bear market, june 2013, it fell in the space of a month. the rest of that year, toward december, it rebounded about 31%. it will be interesting to see if we see that rebound for the asian markets. in hong kong, we see the hang off off the highs of its its highs. half of that market is in oversold territory. anyway, if you look at the technicals, unsurprising across the region. the winners across the asia-pacific, it is a broad-based rally. but in particular, basic materials. rishaad: how broadbased is this rebound? >> you can see money flowing out of save heads and into gold and the yen over the last few days. when it comes to the young, we are seeing a weakening in the japanese currency as well after it surged off its one-year high. the other hand, risky commodities seeing a surge. we've see games for like
Bloomberg
Jan 23, 2016 10:00pm EST
something deeper and more enduring? stephen: it feels like a correction to me. if it was china in a freefall, i would be concerned. i don't think that the consumer and the service economy -- they are holding up pretty well in china. but there are parts that are way overdone, whether it is steel, coal, overbuilding of residential and in certain of the interior cities, and so if you just take one anecdote, you could get -- you could get really -- erik: you could get what you want, right? stephen: you could paint a really bad picture, in terms of the stock market and in terms of policy implantation. erik: if the selloff doesn't stop, what happens then? stephen: this could affect the economy if this affects of the behavior of regular people, and at this point, i don't think that is happened -- that has happened. francine: what do you think the markets are spooked by? >> well, overall my perspective is, if you really want to look and forecast the economy and look at the real economy, don't look at the financial markets as an intermediary of the real economy. there has been a disconnect b
Bloomberg
Aug 12, 2015 11:30pm EDT
emily: investors get cold feet over alibaba. how jack ma can clear hurdles inside and out of china. emily: i'm emily chang. this is bloomberg west. coming up, $.10 records a record profit. and promises of a smooth transition for john chambers to chuck roberts. tender pr goes after vanity fair. all that is ahead. first, to our lead. shares fell to a record low. declining 10% after sales climbed up the smallest pace in three years. we spoke with the ceo and asked how concerned he is. guest: people come here not only for specific purpose. they come here for lifestyle. we are confident for the long-term growth. we will continue to closely monitor the consumer behavior and chinese economy as a whole. emily: that was the ceo to discuss. here with me now, spencer a bloomberg who covers amazon and alibaba. and the director of stanford university. i'm going to start with you. he expressed confidence in the chinese consumer. should we have that much confidence giving everything that is going on? guest: i have spoken to him, met him. he is a true soldier. what is he going to say? we are w
Bloomberg
Oct 21, 2017 7:00am EDT
? china. julia: for cost reasons and the laws have changed as well. doeshistleblower law -- that mean people are willing to come forward and go we have problems here? megan: when any scandal at a japanese company breaks, we are all familiar with this public apology -- company executives bowing. it's part of the culture that when you make mistakes, you own up to it. you are almost never seen or heard from again. this whistleblower law has contributed to that. these types of mistakes and takatals we are seeing, airbags, are systemic in nature. this pressure to compete in areas where they are constantly ining risk on their margins industry where they were the main player, but now china is facing them on the bottom of one top level as well. julia: you always went for quality. now, if you can't rely on price nor quality, we have a real issue. megan: that's the main point. some of japanese manufacturers have consistently targeted the higher end of the market. automation, once china starts eating away at the higher-margin, added value products, japan inc. will be under threat from all parts
Bloomberg
Sep 14, 2015 1:00pm EDT
jones at 16,348. s&p at 1950. nasdaq at 4796. oil dropping for a six day in six sessions. the china slowdown hurting oil. nearly 3.5% atn 46.48. lls concerned as well. prices trading near a one-month low. right now gold futures are higher, up half a percent at $1109 $.40 per ounce. $1109.40. upty: the two year yield is slightly. the 10 and 30 year yield are down. there is some binding going on. in the currency markets, the dollar is weaker. going on. some buying -- theead of all all-important decision by the fed. this is something we will talk about for the next few days. spoken toand i have people on both sides of the divide. they say because of what was going on in china that may be said might hold off. they say it they've pulled up it could show weakness. we will find out. a look at the top stories at this hour, breaking news are following. a professor is confirmed dead following a shooting at delta's the university in cleveland, mississippi. the school remains on lockdown and authorities are searching for an active shooter. students, faculty, and that being advised to take shelt
Bloomberg
Dec 5, 2013 1:00pm EST
carrier in the world, china mobile? and scardino joins the twitter board. has said he will not be leaving. he was a front-runner for the microsoft ceo. what does this mean that -- in the hunt for steve ballmer's replacement? ford's ceo alan mullally will apparently not be the new ceo of microsoft. he is staying through the end of the year with ford. have more on microsoft in a few minutes. but we are also following major news involving apple and china mobile. they have signed a deal to finally bring the iphone to the world's largest mobile carrier with a rollout coming later this month. this comes a day after china mobile will grant a license from the chinese government to operate a new network. jon erlichman is in l.a. following the story. we have been covering the potential for this deal for years. was this license all they were waiting for? >> there are a host of issues that played into why these two could not get on the same side. them.twork was one of and obviously, the pricing and revenue sharing agreement, subsidies, all of the stuff that apple always has to deal with its working o
Bloomberg
Jan 18, 2016 8:00am EST
saudi's are saying. they are not concerned about the extra supply. the offshore yuan gains as china looks to curb the bearish fed. will it work? adidas stock surging on news home asis taking the ceo. can he restore growth to the german sportswear company? you're welcome. let's get straight to the markets desk. mark barton has everything needed to know. i bet of reprieve. his stability the word -- his stability the word? mark: earlier we rose as much as 1%. isare a little change, which an improvement on the trend we have experienced in 2016, the worst ever start to year for global stock markets. earlier the stoxx 600 fell to its lowest level since december 2014 after dropping for a third consecutive week on friday it achieved the dubious distinction of entering a bear market. andgains now fallen by 10% 2016. it's a must a trillion euros trading in stocks 600 shares. it's about 50% greater than the 30 day average. that is interesting. the part to interesting fact is the fear index. europe's volatility indexes rising for third consecutive day. in 2016.by 59% we are still below the augu
Bloomberg
Sep 15, 2017 11:00pm EDT
administration official. the united states continues to lean on china to use its oil deliveries as leverage to deter pyongyang. global news 24 hours a day. i am alisa parenti. this is bloomberg. "bloomberg technology" is next. ♪ ♪ cory: i am cory johnson in for emily chang and this is "bloomberg technology." bitcoin's surge coming to a painful end amid growing warnings of a market bubble. silicon valley's waning political capital. the scandal the latest in setbacks. bloomberg's unprecedented access into china's biggest online commerce company. our exclusive interview with alibaba founder jack ma. bitcoin's magical summer is coming to a crashing halt. the cryptocurrency has dropped more than 26% since hitting an all-time high of nearly $5,000 on september 1. the drop is due to the moves by china's policymakers restricting the trading of bitcoin and outlawing the initial coin offering. prices have been recovering somewhat. the market as a whole has taken a hit over the past couple of weeks knocking about $50 billion off the total of cryptocurrencies. jamie dimon shared his thoughts about
Bloomberg
Apr 6, 2017 5:00pm EDT
arrived to meet president trump in mar-a-lago, florida. trump had blamed china for stealing american jobs. but the two countries remain reliant on each other. more than half of u.s. computer product imports come from china. billion inan $220 chinese investments are at stake if a trade war did break out. for more on what is expected from the meeting, let's go to ramy inocencio and palm beach florida. what are the top issues for the summit? >> it strikes me as really interesting that this billionaire businessman and novice politician is meeting someone quite the opposite, a very seasoned politician now pushing back against luxury in china. what ties them is money and that is what we must be talking about. on the campaign trail, donald trump has been saying china has been stealing american jobs and taking them to china. another interesting topic is currency manipulation. china has been trying to figure out where it stands in terms of the u.n. the u.s. and donald trump has said it is potentially a currency manipulator. interestingly, former treasury secretary weighed in earlier let's take a l
Bloomberg
Aug 24, 2015 12:00pm EDT
china, it was even worse. the shanghai composite dropping 8%. a look at whether today posits selloff is in china. matt: crude oil falls shorter. a six year low and we will look at how companies are adjusting to the reality of every cheap oil. ♪ pimm: good afternoon. matt: we have to take a look at the markets right now. i am checking them basically every 30 seconds here. it is such an interesting story. you had massive drops at the beginning of the day in the dow jones industrial average was down about 400% more at the open. nows&p you can see here looks like friday, better than friday. the dow looks a lot better than friday this morning and especially better than what we saw a writer the open. drop of 1083 points at the open. pimm: right. orders placed prior to the opening, we saw what happened without orders, taking their ues on what happened, dax, from is the april 10, that is when it hits -- hit its high for the year. it is now down 22%. we talk about a correction in the u.s. the dow jones industrial average is down 10%. 20% is what we would term a rare market. they wer
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