at the top of the list. emily: coming up, we had to china and speak to alibaba's president. to us on theisten bloomberg app. this is bloomberg. ♪ ♪ emily: welcome back to the best of "bloomberg technology." i'm emily chang. shop-athon that dwarfed black friday and cyber monday in the u.s. the event has become a barometer of chinese consumer sentiment offering clues on the chinese economy. investors took notice. alibaba'sup with president michael evans from zhejiang china. michael: it is highly unlikely will will continue to grow 50% each year with the numbers becoming so large, that would be very difficult to do. we are at least 30 plus percent higher than last year and we will end up between 17 and $18 billion. that is against the 9% -- eciation and the arereal opportunity is we penetrating 10% of the china retail market off-line online. there is his potential growth in the china market. we see substantial further opportunities for growth in the future. trump president-elect says he will end trade agreements around the world. urged not to adopt an isolationist concept. what when

list. emily: coming up, we had to china and speak with alibaba president mike evans and if you like bloomberg news check us out on the radio. you can listen on the bloomberg radio app, bloomberg.com, and on sirius xm. seeing is believing, and that's why we're opening more xfinity stores closer to you. visit us today and learn how to get the most out of all your services, like xfinity x1. we'll put the power in your hands, so you can see how x1 is changing the way you experience tv with features like voice remote, making it easier and more fun than ever. there's more in store than you imagine. visit an xfinity store today and see for yourself. xfinity, the future of awesome. speed always wins. especially in my business. with slow internet from the phone company, you can't keep up. you're stuck, watching spinning wheels and progress bars until someone else scoops your story. switch to comcast business. with high-speed internet up to 10 gigabits per second. you wouldn't pick a slow race car. then why settle for slow internet? comcast business. built for speed. built for business. emily

>> it is 1:00 here in hong kong. china's economy stabilize last month following new measures to cool the property market in almost two dozen big cities. industrial production rose 6.1% in october from a year ago. retail sales climbed to 10%, down slightly from 10.7 a month earlier. donald trump has named reince priebus as his chief of staff when he takes office in january. he is chairman of the republican national committee and his nomination is expected to bring trump closer to the party leadership after a divisive election campaign. trump named his campaign ceo stephen bannon from breitbart .ews as his chief strategist japan's economy expanded more than forecast in the third quarter. grew 2.2%. consumption -- business spending was unchanged. global news 24 hours a day powered by over 2600 journalists and analysts in more than 120 countries. bloomberg. ♪ emily: this is the best of bloomberg technology. we bring you all are top interviews from the weak in tech ek in tech. wea donald trump won the white house, though most in silicon valley lost the bet on the presidency. plus,

in china? tighter regulations on ride sharing could make didi's business a lot tougher. we'll head to hong kong next. check us out at bloomberg tech tv weekdays at 6:00 p.m. in new york and 3:00 p.m. in san francisco. this is bloomberg. ♪ emily: samsung is making moves in the automotive technology business. the company has agreed to buy harman international industries for $8 billion in cash. harman makes high-end car audio sand a leader in car technology. their c.e.o. says samsung is a good fit. >> samsung and harman believe this is an ideal strategic fit that will maximize our complementary strengths. their global scale and r & d capabilities and distribution channels will provide harman the resources to be able to expand our reach. emily: sticking with the car business, it has only been a few months since ride sharing giant didi bought out uber's operations in china. they are going to endorse tighter ride sharing rules. if that policy goes into effect, uber's deal might give -- a last laugh. cory johnson spoke with david kirkpatrick. take a listen. >> there is a discordance bet

a few months since a ride giant bought out uber's operations in china. they are going to enhorse tighter ride sharing rules. if that policy goes into feblingtuber's deal might give -- a last laugh. with david spoke kirk patrick. take a listen. >> there is a discordance between the central government and the local administrations. if you look at the local government. the local level because the city governments are in charge of issuing a lot of permits for the axis operations. this is a push back from the cab rives. it is a blow to their business. >> they were taking a step closer to an i.p.o. i wonder if you get the sense with not just uber but some of these unicorn companies are starting to think about publicly trading companies. >> i think in general that may be happening. i don't sense it as much at uber as some of the other companies. i think uber is feeling comfortable being able to raise capital at these astronomical evaluations. if you look at facebook's situation, if they had never gone public, they would be able to do a lot of things to respond to situations that are put

at the markets. afternoon trading eating underway in hong kong and china where we are seeing hong kong up. shanghai is pacing its offshore peers. , heading for a bull market. ♪ emily: this is "the best of bloomberg technology," lori bring you the -- where we bring you the best of our interviews in the world of tech. mark zuckerberg strikes back at critics who said the social thea site facebook affected outcome the elect -- of the election. first, to our lead, snapchat against the process of going public. they have filed for an ipo under the jobs act. this is something a company can do if they make less than a billion dollars in annual revenue. ofy have a target valuation $20illion-20 billion -- billion-20 $5 billion. cory johnson caught up with sarah frier and justin khan after the news broke. >> snapchat's filing confidentially because they don't have $1 billion in revenue yet so they can do that. this ipo could happen. it could be the first quarter of this year, maybe as early as march. it could be up to $4 billion in what they raise. this is incredible considering that they f

his promise to scrap a major trade deal. what that means for tech companies in china. the silver industry scrambles to figure out what the new administration means for renewables. the debate rages on, did fake news on facebook help sway the presidential race? mark zuckerberg told dave kirkpatrick this. >> personally, i think the idea that fake news on facebook, of which it is a very small amount of the content, influenced the election in any way, i think is a pretty crazy idea. emily: but after a lot of backlash, zuckerberg seems to have slightly changed his tune. he wrote on facebook, the bottom line is, we take misinformation seriously. we believe in giving people a voice, which means erring on the side of letting people share what they want whenever possible. we asked dave kirkpatrick what he thought of facebook's evolving tone. >> he would still say -- i don't think you would use these words again, but it is a crazy idea that trump won because of fake news on facebook. i think what has happened as a result of a huge push back from all kinds of corners, including the u.s. pres

called another internal meeting in a bid to resolve its own differences. -- china has effectively tightened monetary conditions without any official announcement. they have cut back on their seven-day open-market operations. they are raising short-term borrowing costs and bond yields by injecting more funds to 14 and 28-day contracts as opposed to seven. president-elect donald trump has claimed the general election saw fraud. he says he won the popular vote, if millions who voted illegally for clinton are removed. inre are calls for recounts three out of ground states. global news, 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. let's take a quick check of the markets for you right now. afternoon trading getting underway in hong kong and china. we are seeing gains right now. the rmb strengthened slightly. that's your headlines. ♪ emily: i'm emily chang and this is the "best of bloomberg technology," where we bring you all our top interviews from the week in tech. coming up the controversy , surrounding facebook an

looked at this as the ipo. we said the two things they need to do was they needed to get into china or mobile or the numbers would not get better. it fell over its first couple of months as a publicly traded stock and they figured out mobile. thicket 1.6 billion users on mobile. mobile revenue is $5.7 billion. to james's point, that flat 84% quarter -- into successive quarters growth, that show the lack of improvement in terms of mobile revenue. it's still a lot. it's maybe not more or not enough from a wall street perspective. i think any this would kill for these numbers. emily: with the rise of snapchat, we see facebook copying snapchat. does the coolness factor come into play? cory: james is all about coolness. emily: that's why i'm asking you this question. are you concerned that facebook is not cool enough to sustain this growth over the next several years? james: i don't think so. they have instagram. it's incredibly popular. these are heavily used assets. it has all of the scale. you go where the people are. people are on facebook. i'm not worried about the coolness factor.

if you have a larger base. chairs: yum china , the company has completed the spinoff of those chinese operations. the chief executive says he's focusing on expanding delivery. >> delivery is growing rapidly. like every 10 vehicles as a someone with a backpack carrying a delivery. our business is no exception. we did more than $700 million in delivery this year. digitalivery and ordering a related, so expect to see significant growth in the years to come. rishaad: let's get back to the conference taking place in singapore. the ceo of one of britain's largest engineering consultants, $2.1 billion of annual turnover. with howrt things off you are finding things, especially when it comes to asia. everybody talks about infrastructure and infrastructure imperative. how are you finding it? there are a lot of growth opportunities for us. large businesses in hong kong and singapore and lots of businesses in the region. in general what you find is an anonymous amount of infrastructure needs in those countries, and the question is how can we match that with financing and investable projects to a

than expected to label china a currency manipulator. well, we have been looking at this chart. terrorism fromt china and how it affects -- tourism from china and how it affects japan. that white line is consumption, including tourism. consumption excluding tourism, so you can see that the merchants. domesticwe have weak demand. these numbers continue to burgeon out of china into japan. getting to the market action. a bit of a mixed picture a cross asian equities today on what has been an extraordinary week. in are seeing that weakness emerging-market currencies hitting the market, particularly indonesia. down 2.2% at the moment. the philippines down by over 1.5%, and taiwan is being heavily sold off as well. financial players, the search for yield continuing, financial stocks leading the way along with energy producers, although we have seen a pair back in that oil price rally. the dollar's strength happening everywhere, a weaker yen, the nikkei up by .8%, so are a lot of positive momentum coming through export players in the region, weakness from some of those materials playe

, japan's smashing expectations. >> data from china expected to show continuing industrial-strength, gain in retail sales, and investment. afterd: the kiwi swings powerful tremors cut the main north-south highway. what may be the most successful casino of all time. rishaad: right, just having a look at this chart. it attracts the fortunes of the 500 richest people in the world. >> we know markets for royal last week, the recovery rally, and so some segments continuing. there we have it. the two weeks of ups and downs, ending in a tumultuous u.s. election week, down $6 billion. these of the world's 500 richest people. we have the decline of $64 billion on the result of trumpeting in the white house. rishaad: right. and kuala taipei lumpur coming online. all right, markets mixed following what wasn't the most pleasant of weeks in asia. the story comes down to japan, where you have a weak yen. followinge nikkei 225 the quake. , down 7% inng out new zealand. what you're saying is a pullback across mining stocks, especially gold producers following the drop in gold prices. wednesday last

get in. samsung putting big money on that. thank you so much. rishaad: looking at china, national petroleum corporation, the parent company of petrochina, could be looking to spin off most of its non-energy assets, forcing it to streamline because of oil. haidi: tom has been looking into this, what a rehearing so far -- what are we hearing so far? two weeks of low oil prices are taking their toll on this energy giant, the parent company of petrochina. they're looking at spinning off a number of different units that make up about 10% of their employees, units like schools, utilities, hospitals. these are largely nonprofit making according to the company and will be spun off and takened up and probably over by regional governments or joint ventures with the help of outside investors. it is part of the streamlining whichs for the company, employs around 1.5 million people, making it the sixth largest employer on the planet. as ais part of a push state owned enterprise that has been able to whether some of these weaker oil prices thanks to cheaper loans, but this is coming to fruit no

their highest level since february. hong kong moving closer to a trading link with china. members hold opec meetings to bridge the divide on production cuts. rishaad: we have the trump thect, this is the chart of hour. year to date, what is it telling us? haidi: the trump affect driving up volatility after the elections, and this could be good for asian assets. if you look at where the price is now and going forward in terms of futures options, some discounts coming through. we can see how volatility has spiked after the election taking place. the results in a way are off the higher valuations and price-to-earnings multiples, 13.8, now 13.2 or thereabouts. by historical measures, that does represent good value, you could argue. are talking about the msci asia-pacific index. conversely,: you can talk about the end setting times we are in at the moment. rishaad: that's one way of putting it. haidi: the great unknown in terms of policy. rishaad: or the known unknown. let's get straight to the market action. juliette: it is looking brighter today. regional indexhe higher for the first

120 countries. this is bloomberg. talking of china, china's holdings of u.s. treasuries at the lowest level as it draws down reserves to support the following yuan. what does the data tell us? >> more clarity than the skies of beijing. a further drawdown of u.s. treasuries and the fx reserves. it is when the pboc was trying fallingthe yuan from prior to the sdr inclusion. net selling of u.s. treasury total in september was $76.6 billion, $28.1 billion of that was from china august to september, so china now holds 1.16 train dollars in u.s. bonds , notes, and bills. is the pbocseeing trying to keep the yuan from falling too fast, but now we have seen the yuan fall as far as 6.88 yesterday. it is strengthening today. the indicates that authorities in beijing are allowing it to go weaker. rishaad: we have seen this weakness and saw today's fix, the 10th straight week, but then some strength creeped in. >> it was 10 straight days that they set the fixing rate weaker, but because of the weakness yesterday, 6.88, it was weakened by .3%, but it is strengthening today, putting a halt. prior t

the week. elsewhere, stronger gains across the asian equity market. had and china, we just china property prices data coming through, pretty weak there, but still a lot of bids for these casino stocks. china out by 3.4%, a switch out from energy players. by around .3%. it had quite a good rally as we saw the won strengthened against the dollar. and newian zealand looking good, some next movement and terms of the other southeast asian markets. looking at currencies, it is about the yuan, the pboc weakening the yuan again. 6.910, a lot of analyst saying we could now see the onshore renminbi push towards that seven handle. the crudeook at price, some weakness as well, down by 1.1% at the moment. in terms of equities, generally looking good, especially the japanese equity market. rishaad: thank you. right, let's get the first word news. president obama says he won't try to stop the protests that have erupted against donald trump. he rejected calls to use his influence to rain and demonstrators. obama urged his successor to " stand up to russian president vladimir putin if he fails to

interest rate hike in the u.s., policy has tightened in china. has allowed a steady increase in money market rates to squeeze liquidity. policy have started to tighten selectively. interest ratesrk have been on hold for more than a year. posted its lowest annual profit in five years. to $4.5fit fell 18% billion. earnings are under pressure after the bank restructures its businesses. rising badgling with debt charges and costs. told that the banks underlying performance is very good. >> what we are going through is a restructuring of anz. we have had a number of charges we took in the year, which have depressed earnings. underlying performance of our businesses this year have been good, and we are pleased. the reduction in profits is a deliberate action to reposition for the future. overnda: china's reforms state owned enterprises may be forcing companies to work with unexpected partners. china's unicom parents have agreed to collaborate with baidu. it is part of a plan to boost service levels of the mobile carrier. show a tight final stretch of the u.s. presidential race. they s

derail closer global integration. china shakes up the order, claiming the mantle as world free-trade champion. japan posting a trade surplus with imports falling faster than exports. for and against the korean president as prosecutors say park geun-hye did collude over access. 30 minutes from the open in china and hong kong. singapore, kuala lumpur, and taipei coming online. how our markets tracking? buty: it is looking mixed, we are seeing markets in the red except japan and taiwan. hown not surprising given much the yen has plunged against the dollar. downe seeing the kospi .4%, the threat of impeachment as prosecutors say park geun-hye was involved in that influence peddling scandal. we are seeing minor stocks and consumer stocks driving the declines, the asx down, reversing three days of gains, while new zealand is down .2%. new zealand has been losing ground for six consecutive sessions. about japan, look at that, gaining .5%, the nikkei already in april market territory, but we are now seeing the topix also gaining for an eighth consecutive session. if gains are sustained, we c

remaining a challee. china is said to because -- a chinese insurance company is said to be buying a japanese country with $2.3 billion. a deal may be assigned this week . it will be the first foray into a japanese market. they're looking to buy assets around the world. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 121 countries. this is bloomberg. let's move to president-elect donald trump releasing a short video outlining his policy priorities as he continues to make potential members of his administration. hisas indicated his -- intention to follow through on campaign promises. >> on trade, i'm going to issue a notification of intent to withdraw from the transpacific partnership, a potential disaster for our country. instead, we will negotiate fair, bilateral trade dealers, that bring jobs back to american shores. thered: he is talking tpp and what that will mean for this part of the world. what did you make of this video? >> it is an interesting medium. donald trump making his policy pronouncements the a a video that goes up on youtube

members arrested in china face at least two months in detention for potential court appearances. beijing is cracking down on casinos. shanghai law firm says it is not clear if the matter will go to trial, but the maximum punishment is theoretically three years in jail. crown shares plunged on the detentions. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. rishaad: right, air asia x shares up. malaysia's long-haul budget character -- character -- carrier improving from the malaysian ringgit. the question is whether this momentum can be sustained. in the short-term, it looks sustainable. after eight quarters of losses, the company is optimistic and says it will get back to annual profit. 2.5the quarter, profit at million dollars, revenue up 24%. said, the malaysian ringgit made malaysia an attractive holloway destination -- attractive holiday destination. it is thee sense that beginning of better days when you look at the company ceo. he said a superset of results, more to come, more sensible business dec

overheating, and if they are -- hiking fast enough. what we were hearing about india , china's debt, the u.k. brexit negotiations, so there are some watching,t bear worth but it wirelessly not stop them from a december move. time of there was a data. does it at the end of the day feed into this narrative of a december rate hike? >> i think so. the numbers showing the economy is strong enough to move 25 basis points, and one number showing there is going to be some fallout from this move. becauseok at jobs, unemployment benefits rebounded from a 40 year low. here is a wonderful chart to give us a sense of this. toless claims back up 251,000, but that 52 week line is still moving lower. you can get much lower than this in the united states, labor markets are so tight. therembers show their could be some consequences you don't like from this, and that would be housing. in home sales out, down 1.9% october. bloomberg intelligence points out that mortgage rates are rising 60 basis points in october, accelerating after the election, so that will have an impact on the fourth quarter. durable go

far out of reach. stability in china, growth has picked up slightly this month. asia is back in the black lit to cheap fuel.d by what's going on in the broader region? let's find out more. >> asian stocks are gaining .gain, another day of gains that's after four weeks of losses. asian stocks have been on a tear, getting cues from the u.s. as we saw record highs there. the u.s. is closed on the holidays for thanksgiving. the nikkei is up .6%. data this morning showing that came in line with estimates, another month of deflation for october with the cpi falling .4%. seven days of consecutive gains and now near overbought territory on the rsi. the asx 200 of .4% and data from new zealand showing the trade data narrowed. the kospi, not a lot of movement but remember it's been a very brutal last few sessions for emerging markets. we will see how they trade throughout the day. malaysia is unchanged that remember the ring that has seen quite a beating from the surging dollar. let's get a check of the dxy. it is surging after taking upon sin the last session. up .1%. that seems to be the st

. china quietly raising borrowing costs, moving away from monetary stimulus. cash crisis deepens in india, but the prime minister says thing should improve. the stakes are raised in tabcorp with reports tatts a major player may enter the game. 30 minutes away from the start have atrading day, let's look at what is happening. haidi: it is all about the oil patch as we head into ministersns, oil flying to russia for talks, saudi arabia saying a supply cut may not be necessary. that has taken some wind out of the recent rally in crude. wti falling over 4% friday, extending losses. we are holding above $45 a barrel, but just. , 46t looking similar, off tilde $.67, so it is about the energy space. if we do get that supply cut announced and the details come through, markets have priced it in. if you look at where we are sitting three months out, we've come off that rally built-in after we started hearing about these potential supply cuts. this is what we are looking at in terms of the broader markets, a mixed picture, but the wind taken out of japanese equities. the nikkei 225 close to se

anchor one: samsung responds to critics. they expect a list from donald trump and china. t's all down with the yen now. anchor 2: look at the dollar index which is, as heidi is saying, down a fraction at the moment, giving up some of the earlier losses, pairing those losses as it were. et's get to the trading day. reporter: we expected to see a little bit of decline coming through in japanese equities, however it is worth noting around this time yesterday we were seeing japanese equities in the red and they still managed to close higher. at the moment the yen strength pushing the nikkei down by .2%. there's been a little bit coming through in the kospi index. this is on reports that they have been oversold recently but also as we saw in china increase the parity today we actually saw that rise in the yuan six. so we are see manager support coming through for some of those korean cosmetic companies which many chinese mainland buyers buy into it. looking at the hang seng, it is flat there. we are still seeing a sthrong rally coming through from casino players. remember mgm china an

calling china a currency manipulator. before that, another cabinet pick, treasury secretary, mr. trump has decided he was to go for tom price. -- steve midoc mr. trump has railed against wall street during his campaign, and here he is going back and calling on and next goldman sachs banker who has been a goldman sachs for 17 years to call him it back into his. he is 53 years old. to the from wall street west coast and silver screen, bankrolling movies including x-men and avatar. histoo much is known about interest rate view and fiscal policy view, or whether he will keep a stronger dollar going, but one interesting thing, he donated to both hillary clinton as well as barack obama in the past, but then flipped and decided to support mitt romney in 2012 and donald trump. announcingave trump a cabinet minister? , she was theo department of labor secretary under the administration of george w. bush, and now she is potentially set to come back into republican-controlled white house administration. we are looking at her potentially being confirmed. you are seeing pictures of her with

upbeat china forecast from the rba. ahead, singapore airlines looking to rein in costs in the face of competition. shareholders fail to click with gopro as investors see a gloomy holiday season. singapore, taipei, all in the next. thesehave a look at how markets are tracking, one direction only, david. direction, the color it away, on gives the way down, especially the nikkei. there is an element of catch up here. trend is down, poised to into the week on a lower note. the week on a lower note. the markets have been edging down for eight straight days. you have the jobs report later on tonight. investors are paring back exposure to risk assets at the moment. markets as you can see on the way down. a lot of this comes down to election jitters ahead of early next week's election. currency markets, one currency moving because of domestic issues, the pound. we will talk more about that later on. we are looking at a 4-5 week i. aussie dollar, the quarterly statement from the rba. it shot up after that. we traced a lot of that move up. highest level in 2-3 weeks for the pound. a 7-8t the

-pacific. gdp, forex reserves out of china, and trade data out of taiwan, i'll do out in the afternoon. due out in the afternoon. we are 27 minutes to the open in hong kong. one group of stocks we will be following, one of those don't-look-close-your-eyes moments. a lot of these property related stocks in hong kong. this group right here. this is how they traded on friday. look at the mix there, following the latest draconian measures to keep prices in check, which analysts and brokers are saying hit the amount of volumes and transactions, effectively , affectively 30% for nonresidents and foreigners. that is a space to watch, or not. close your eyes if you have a position. i will leave it there. rishaad: more details on that story in the program. thanks. haidi: let's get to first word news with paul allen in sydney. theresa may says her brexit timetable won't be altered by last week's constitutional ruling. has worsened divisions with conservative newspapers blasting high court judges. theresa may says the government has a strong case to appeal the ruling that parliament must approve

weaker yuan we have been seeing has been helping the export scenario and exporters in china and that is why we are looking at these in conjunction. yesterday,rves file fallen the most since january. u.s.to 3.1 2 trillion dollars, still a big tile -- still a big pile. strengthave is dollar leading to you on weakness and weakness and more outflows. 1.53%an has weekend against the dollar last month, which is the biggest monthly drop since the devaluation in august of last year. the white line shows the fx pile burn, if you will. the burn of reserves has not been as fast as the authorities have allowed the currency to depreciate. that indicates there is more c.lerance from the pbo the global demand has been quite tepid. those chinese for trade figures, expecting exports to fall 6% following a 10% fall in september. we are expecting about a .8 percent fall in exports for the yuan, after a 5.6% fall in september. imports are little bit of a different story. they have fallen 22 out of the past 23 months the case of declines has been dwindling. i am standing by for you guys. haidi: any momen

in uniting and beating the country. this affect does u.s.-china relations? we are having a look at this one. it is a big question. is, who is donald trump really? withuld you be dealing donald trump the candidate who said a lot of anti-china rhetoric, or will it be president donald trump, who needs to maybe tone it down, or maybe he doesn't? many more we have questions about the u.s.-china relationship going forward than we have answers. 45% tariffs on all chinese made goods into the nine states. the commonwealth of australia said that could cut exports to the united states by 25% in the first year alone. this is a $600 billion trade relationship heavily skewed in china's favor. how much more would americans want to pay for their iphones and other goods they buy? >> that's another story. currency manipulation could be ,omething that president trump still getting used to that, president trump will possibly -- rishaad: president-elect trump for the time being. >> currency manipulation, he name china a currency manipulator on day one. what does that mean? it means they will start a se

whatever happens in china. you are seeing a takeout when it comes to the aussie dollar. we have had good days of strength when it comes to the aussie. a much flat at the moment it -- pretty much flat at the moment. 29 minutes away from the start of the session in hong kong and china. haidi: let's look at how the australians are reacting. how is it looking? >> things have actually picked up. 51.2, very good number. compared of course to what we're seeing so far. look at the aussie dollar, we are coming up lopez the moment. let's bring that down -- coming up low at the moment. let me refresh it. every single sector was down. especially oil. mining stocks are now closed for the day. we were down as much as 9/10 of 1%. 13 out of 17. let's go through some of these names. a lot of it comes down to what has been going on with the gold price, hence why we are seeing a bid there for some of these names. equity markets, we are seeing fresh. thehours from now we get rba. later it's the bok. story, with the drop in price of oil, which took the -- you're looking at u.s. crude. 46.83. we're looki

sendoff uber? >> of that is the big question here. china, hasr exiting to prove it can succeed in these big international markets. india is at the top of that list. it is also expanding into latin america and southeast asia. india is very important. for a while it looked like ola would be vulnerable because it did not have the capital to fight back by subsidizing drivers and customers. if it is able to complete his fundraising for $600 million, it will give ola a lot more firepower to defend its turf against uber. let's talk about sony, their profits falling off a cliff this quarter. posting earnings that plunged 86% from a year ago. what happened? >> there were a couple special charges in there that led to the decline in the net income. they are selling their business, taking a battery because of that. they also went through an earthquake. concerning them a sharp decline in net income because of the special, one-time items, you are seeing a stronger yen that is putting pressure on our operations. particularly on the camera sensor business that has been very successful for them historic

board voted. the stabilization of china's economy appears to be taking hold with the official manufacturing pmi jumping to a four-year high. expansion steady. afterl bank may hold off keeping key rate at record low. check out this state of sony shares right now in tokyo. after slashing profit forecast by 10%, down more than 1% here. operating at $2.6 billion after taking a hit on battery. than expected.er the news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. update, afternoon trading getting underway in hong kong and china after that better-than-second quarter. also taking a look at singapore. ♪ >> i am emily chang and mrs. bluebird technology. coming up, silicon valley is most divisive voice. peter thiel defense. by another block lester week of tech earning. everything you need to know. withmy exclusive interview a ceo about the impact of learning machines and more. first of all, peter thiel opens up about his support of donald trump. he said the presidential nominee represents a new republican party. peter

square capital division. of mobile now, ceo banking started china and -- mobile banking startup, chime. tell us what's happening in terms of payment volume, a slower bump then we saw last quarter. the very high expectations, given was a solid the last quarter. raised forecasts, so you see investors reacting very positively to this. i think it's a boost of confidence for investors because they are moving toward profitability and we saw losses narrow. that was the biggest highlight , itancillary businesses does not look like they saw a lot of liquidity there and they shared a few data points that are positive, but still not full disclosure. how would you rate the progress given that they are trying to bring on larger companies? guest: the progress is awesome. ebitshowed $12 million of off this quarter. it's really attractive. it's a large market and companies in this market generate 40% or 50% margins come a so there's no reason they couldn't get to that level over time. if you look at the landscape of players that have tried to be in this category, amazon and into it, they are out. squa

the table. keep in mind the chinese have ramped up significant capacity outside of china, so tariffs, even on product import into the united states directly from china, are not working. if you have weak demand in the u.s. and china and japan, we think it will have a very negative impact on prices in the united states. if you are a tesla shareholder, you have to ask, are you willing to vote for this deal? because there has been a significant change overnight in the overall chemistry of this deal coming to pass. emily: as keith was leaving, i asked him what his thoughts were on the future of cleantech. coastal avengers has invested in a number of clean tech initiatives. he says he does not think clean technologies necessarily needs government subsidies anymore. do you agree? and he would invest in these technologies -- and who would invest in these technologies or even building these technologies if they did not think the government was going to support them? >> i strongly disagree. we can look at multiple instances germany, spain, france, taking away incentives , 90% drops. without th

whether trump's policies could lead to a trade war with china. but first our lead. the dow jones industrial average soaring to an all-time high but one industry is missing out. the tech sector. facebook, amazon, netflix and google's parent alphabet down for the second day. it may be that investors are weighing the impact of trump's policies on big tech multinationals. to put this in perfect i, joseph sealy in new york. apple ending the tai town almost 3% today. walk us through the market. joseph: you saw the companies that are going to benefit from a trump presidency doing quite well, like industrials, materials and financials. but on the other side you have ech. there's a lot of companies in the tech sector, alphabet and facebook, get half their money from overseas. if overseas trade takes a blow, tech knowledge is -- technology is a sect yo -- sector that will get hurt. the tech sector was up about 11% year-to-date until today. this is an area people will be looking to sell given any reason. perhaps a little overvalid by some measures. people looking to make some profits, maybe

uber get the last laugh in china? tighter regulations on ridesharing companies could make business a lot tougher soon. we go to hong kong for the details next. this is bloomberg. ♪ cory: samsung is making moves in the automotive technology business with harman international industries. they make high-end car audio and a leader of connected car technology. the ceo says samsung is a good fit. >> samsung and harman believe this is a strategic fit that will maximize our strengths. &dmsung's global scale, r capabilities will provide harman the resources to broaden our portfolio, expand our reach and accelerate the production of industry first positions. cory: it is only been a few months since the china giant bought out uber, but now the city are planning to enforce tigheter rules and selecting what kind of cars drivers can drive. from hong kong is lulu chen and still what is david kirkpatrick. what are the rules proposed in terms of both the residency and the vehicles themselves? u: the largest cities have ruled out tighter policies requiring only local residents, for example in beijin

libertarian values. positions like you can't work with certain parts of china or iran, but i think a lot of the world has become more self-imposed in terms of what silicon valley wants to help with. the curious things about palantir is that it remains private. if not mistaken, your cofounder remains ceo of the company and set running a company like this would be difficult if it were public. do you think that is still the case? joe: i think a lot of these founders are very bright people that i learn a lot from an overestimate how hard it is to be public. a lot of people are very scared of becoming public and a lot of people who have made the transition, it's not as bad as you think. erik: do you think the time will come when palantir can go public? joe: i think so. wouldearly shareholder, i like to see it earlier and i understand why other people might want to delay it. trends inll the technology today, whether it is a big data, machine learning, ai or a taunus cars or anything else or that matter because the list goes on, what excites you the most? is how thexcites me big industries are goi

get a quick check of the markets. after in trading is getting underway in hong kong and china. we are seeing $45 a barrel oil. tokyo and sydney just closing for the day. ♪ cory: i'm cory johnson in for emily chang. snap is filing to go public. sources say in may be the biggest tech ipo in recent years could come as early as march. the fangs stocks have come roaring back. palantir cofounder joins us on his longtime partner peter thiel and how a trump presidency could impact technology. snapchat begins the process of going public -- the parent company snap is said to have filed confidentially for an ipo. that is something a couple he can do that makes less than $1 billion in gross revenues. we reported last month the company would seek as much as $4 billion in valuation, anywhere from $25 billion to $40 billion on less than $1 billion in revenue. what is the news? sarah: snap is filing confidentially because it does not have $1 billion in revenue yet, so it can do that. this ipo could happen as soon as first quarter of this year, maybe as early as march. it could be up to $4 billi

china potentially as high as 45%, part of a plan he believes will reinvigorate the united states and manufacturing by bringing it stateside. when company this could have a major impact on his apple. a chinese state-run newspaper warned americans of countermeasures if trump launched a trade war, including a tit-for-tat approach. when it could mean for apple and other smart phone makers is a chief research officer at idc. how much would these tariffs impact apple and iphone users? >> if you look at how these tariffs would be levied, there would be negotiation, whether 45%, 20%, 15%. that would be on what we call the oem price, the original price of the products. it won't be the $800 or $900. for the sake of the argument, let's say you get down to $35 or $40. in all likelihood, a company is cash positive generating what apple generates would likely eat that charge, and that would be one of their few options. another option would be to pass that along to the consumer or split that with carriers or two other channel partners it might be selling with. it definitely hurts the consumer. emil