alibaba shares are off by 2% at the moment. coming up, we will hear from a ceo about the company's better than estimate or quarter results. europe's biggest insurer saw its profit rise by 36%. this is bloomberg. ♪ julie: you are watching bloomberg. i'm julie hyman. mark: i'm mark barton this is your global business report. u.s. regulations tried to impose limits on wall street pay, but they are racing against the clock and time is running out. julie: a recorder for rosner. if they'll even as oil output grew. quick take,ay's white americans spend more on prescription drugs than anyone else in the world. the world's largest entertainment company had a rare stumble in its fiscal fourth quarter. still, disney is predicting growth will pick up next year. the company posted lower revenue and profit in the most recent quarter. part of that was due to lower at sales and a drop in cable subscribers to networks like espn. bloomberg spoke with ceo bob iger. bob: there were a couple of thewinds like the cost of new mba contract for espn

i want to turn to alibaba. china's largest e-commerce operator seems to be shrugging off concerns about a slowdown in a local economy. alibaba posting second-quarter earnings, up 45% from a year ago on revenue. 55%, they cited strength in cloud services, entertainment, e-commerce its largest business. joining us now to discuss the takeaways, kevin carter, founder of an emerging market etf whose largest holding his alibaba. selina wang still with us as well. why is alibaba your biggest holding? then: our thesis is that emerging markets are just now getting the internet and getting it on mobile devices and the consumer in emerging markets is the real growth story and just as the mobile and internet has changed the way we consume, it is changing how emerging market consume, china being the largest. 55% topline growth for a company the size of alibaba is quite extraordinary. before this, we were reviewing facebook results and they also grew at 55%. there is many companies the size of those two in the history of the

to discuss the takeaway is whose largest holding is alibaba. why is alibaba your biggest holding? kevin: our thesis is the emerging markets are just now getting the internet. they are getting it on mobile devices and the consumer is the real growth story. just as the mobile and internet has changed the way we consume, it is changing how emerging markets consume, china being the largest emerging market. it is the reason you see such incredible growth. 55% topline growth for a company the size of alibaba is extraordinary. you were reviewing facebook results and they grew at 55%. there are not many companies the size of those two in the history of the world that can grow faster than 50% on an annuized basis. emily: there has been broader concern around growth in the chinese economy. i recently sat down with mike evans, president of alibaba. listen to what he had to say. guest: china is not in a bubble. the economy is slowing but not slow. the components of the economy are changing rapidly from investment in old industrial and manufacturing to services and consumption. emily: as someo

alibaba is on track to smash it sales record. we are alive with the latest -- we are live with the latest. welcome to bloomberg daybreak europe. i am an edwards. friday.we made it to >> let's break those numbers down for you. an estimate of 1.5 9 billion. a beat on the net income front. first positive net flow since 2013. solvency ratio, 86%. profitees 2016 operating . the outlook for 2016 is confirmed. a miss in the last quarter, but in this number, a beat to operating profit. the estimate was for 2.6 billion euros. we will have no other than the cfo. he will be joining us for his first interview of the day. you can catch him at 650 u.k. time. anna: let's talk about the week that was. to donald trump being elected as u.s. president. he has already had a big impact. yousef: the kinds of moves we have seen our unprecedented. two leagues of more than 200 points in the last couple of days. of more than 200 points in the last couple of days. the bond drought continues, of course. only the second time we have seen this in two decades.

alibaba is benefiting and expanding middle class. also, the shift to online come ae will have november 11, that will give us a lot of insights into how excited consumers are about some of the things alibaba is offering. alibaba has become a proxy for the chinese consumer that would like to move beyond that and ever a more diversified business if they can. emily: single day coming up on big shoppingtheir day of the year. will it be a one off, or is it a really important boost to earnings for the quarter? >> it is one data point. alibaba has done a great job of marketing, it is a little like black friday in the u.s.. it will become a big media event. but we need to see whether it is sustainable over longer periods of time. and if they can capitalize on opportunities outside of the country. peter ahlstrom joining us from tokyo, thank you very much. they have joined the list of investors to get a stake in a multibillion-dollar technology fund. the abu dhabi investor holding talks at the japanese telecoms and internet giant, and plans to

emily: i want to turn to alibaba. china's largest e-commerce operator seems to be shrugging off concerns about a slowdown in the local economy. alibaba posting earnings up from a year ago. the company cited strength in cloud services core e-commerce still by far its largest business. to discuss the takeaway is someone who's largest tolling is alibaba. why is alibaba your biggest holding? kevin: our thesis is the emerging markets are just now getting the internet. they are getting it on mobile devices and the consumer is the real growth story. just as the mobile and internet has changed the way we consume, is changing how emerging markets consume, china being the largest emerging market. topline growth for a company the size of alibaba is extraordinary. you were reviewing facebook results and they grew at 55%. there's not many companies the size of those two in the history growe world that can faster than 50% on an annualized basis. broaderhere has been growth in the chinese economy. evans,down with mike president of a

coming up, alibaba singles got off to a hot start. sales went from zero to $1 billion in hours. ♪ emily: welcome back. erler -- earlier today i ttended a tech convention in half-moon bay where there were strategies the conference's main thing is how the internet of things, i.o.t., will create a more efficient world. i sat down with the man leading verizon's efforts and asked how i.o.t. will impact the long-term vision for wireless? >> we may not see individual growth of smart phones but will continue to see the growth of consumption of more and more data. that's also an important part of our 5g investment, not only to improve service but move that data cost effectively and then also efficiently so we don't have those choke points. emily: how do these efforts hit the bottom line and where does revenue and profit come from? >> revenue and profit comes from making our infrastructure more efficient. as you're consuming more and more day tark we have a cost efficient infrastructure, that gives you the ability to maintain margins and then

alibaba saying it was $17.8 billion. coming up, christie's auction houses superb for a major sale next week looking to rake in an estimated $2 million -- $200 million. this is bloomberg. ♪ auctions kickoff in new york next week. christie's hope to bring in an estimated $200 million. the head of modern art at christie's is with us now. thank you for being here. what are you most looking forward to, what are the biggest pieces that will bring the most attention? >> the most exciting impressionist work on the market this week is that these from work in a culminating series of canvas is that he did around 1891. this is the first time that he devoted himself to one subject over the course, in this case, one seasons, to see how subject can be influenced by atmosphere and light and really use that as an abstract canvas to investigate landscape. that would be the germ of what would become ultimately the waterlily series that was so famous. this is a pivotal moment in 20th-century art history. it is incredibly radical, but it i

rishaad: this event is bigger than alibaba now. i think you did some research saying that if you don't join it , you can look forward to a 10% fall in sales through the year. yes, this has become the platform for everybody to join and leverage each other, so this is the power of it. what ibottom of it, asked people to look at is not -- which type of cloud computing system can handle this argument transactions? it is a vote of confidence as well. haidi: i am intrigued by this shopping is entertainment. rishaad: also calling it social shopping. have a live, they actors, singers, and at the same time, they play a lot of games, so it is an interactive event. is because they now have the data, they know how to of customers at what time and what type of activities, so they are doing it , and a lot of technology as well. the year you can wear and experienced virtual shopping, so all this technology they put into it, and they have the game as well, so making it not just a sales, but entertainment. together.ything in fact in china, what i e

alibaba racking up nearly $2 billion in sales. alibaba enlisted top celebrities, scarlet johansson, david beckham, and kobe bryant to drum up support for single status here. toshiba net income fell by 28%. month, it cited strong demand for energy ships -- chips. this is bloomberg. take a look at how this recovery rally is shaping up as we head into the end of the trading week in asia. hong kong getting up early gains, down by 1%. shanghai heading for a bull market. shenzhen also looking higher. this is bloomberg. ♪ emily: coming up, the dow celebrates a record high, but tech was not invited to the party. we'll dig into why technology is the only sector getting hammered because donald trump won the election. plus, a disturbance in the force at disney. we'll hear from c.e.o. bob iger on the disappointing results. and exploring the unknown. as silicon valley braces for a trump presidency, my exclusive interview with blackberry's c.e.o. and whether trump's policies could lead to a trade war with china. but first to our lead. the dow

that alibaba would suffer more than by do -- baidu. selina: they have a more significant portion of their business that is cross-border flow of goods. there are some u.s. consumers purchasing from the wholesale and retail platform. there are people in china consuming goods from the u.s.. if donald trump actually implement did some of the things he has said on the campaign trail, for instance, slumping tariffs on chinese goods as high as 45%, that would have a devastating impact on chinese companies. it would also have a devastating impact on u.s. companies because china would likely retaliate. emily: john chen said earlier that escalation to a trade war would be dumb. do you realistically think that donald trump is going to impose these terrorists and sanctions -- terrorists -- taiffs and sanctions. we see more and more companies from the u.s. would benefit from that consumption. i think any administration would look for way to make the trade more beneficial to the u.s.. emily: is it true you predicted a donald trump win? hans: we did

alibaba revenue rose 35%. its core consumer revenue shopping business with about 45% higher and the revenue from cloud computing, 130% higher. a waya is touting that as to offset its dependency on its sales division. looking at broadcom -- the world index, we will start with. this tells the story of the flight to safety we have seen over the last 48 hours. this is the seventh consecutive loss. perspective,nto the bloomberg world market cap index fell about $728 million since the close in october. that is the size of brazil's market cap which is the 14th biggest in the world. it puts into perspective, the flight to quality we have seen as the risk of a donald trump presidency continues to rise. david: it does not hurt those developing markets. coming up, the fed in focus. howove is expected, but strong will be december signaled the? the vix writing its longest winning streak since 2013. this is bloomberg. ♪ david: this is bloomberg. the federal reserve's key rate decision comes at 2:00 eastern, today. there i

tomorrow, another big day of earnings with alibaba, fitbit and zynga. all episodes of "bloomberg tech" are streaming on twitter. this is bloomberg. ♪ nerveswith selection spook -- u.s. election markets spook markets. will the fed hold fire? no move is expected today but how strong will it be? brushing off brexit. a new survey shows 70% of u.k. bankers think london will remain europe's preeminent banking center. ♪ >>

>> well, the problem is that alibaba, unlike amazon and u.s. e-commerce companies, alibaba gobbles up cash. it actually is a voracious user of cash. it does not generate cash. and the balance sheet is growing almost twice as fast as the business. and you know enough about corporate finance that if your assets are growing twice the rate of your profits, your return on cap until a's -- capital's plummeting. and be alibaba last year employed more capital in one year than amazon had since its inception. maria: incredible. by the way, in terms of technology, are you surprised that tech stocks have not participated in this trump rally, and is there an opportunity there, or is that also a sell? >> well, there might be. again, we have to kind of step back, maria, and say the knee jerk is, oh, tech, silicon valley, anti-trump. not going to be favored. i think probably a more logical thought process would be tech feint upon exports -- dependent upon exports, dollar rallying, you know, hurting on the margin. and we've kind of forgotten in this whole thing

tomorrow, another big day of earnings with alibaba, fitbit and zynga. all episodes of "bloomberg tech" are streaming on twitter. this is bloomberg. ♪ >> from our studios in new york, this is "charlie rose." charlie: fbi director james comey announced friday in a letter to congress that new e-mails surfaced person to the investigation into hillary clinton's private server. details discovered through eight private investigation into formerly congress meant anthony weiner. in a letter to his fbi staff, comey explained his decision, saying it would be "misleading to the american people were we not to supplement the record." hillary clinton called the move "unprecedented and deeply troubling."

emily: so, alibaba coming up later this week. we have a letter from jack ma to shareholders that alibaba will have to differentiate itself more from regular e-commerce companies. you have to be something more, which rattled investors momentarily. cory: it was fake. bob: it's a fake. cory: they sell it over the course of many days. they already have pr people out there. it is the biggest shopping day of the year. they might record them in one day but it happens over time. that is exaggerated by their accounting. emily: let's talk about the actual results and the efforts to be more transparent. are they actually more transparent? cory: i'm unaware of said efforts. it would be good of them to be more transparent. i don't expect them to do so. bob: i think this investment will be interesting longer term because it puts them in an amazon-like position because they have these content services as well as that. the only question i have is we have heard some rumblings on the issues of the chinese economy. does that start to impact than a

he will report directly to the alibaba ceo. time now for our weekly roundup of tech stories of our radar including alibaba. another big week for earnings. alibaba and facebook coming up. videogame makers over the next few days. a key deadline on friday for the $9 billion oracle ceo in doubt. joining us now for the most important topics to watch is bob o'donnell and cory johnson. we will start with square. last quarter was a good quarter for square. not so much for twitter. it is apparently a high buy for twitter. cory: i think the biggest focus will be the management issues and whether or not jack dorsey could do a half-time job and when the change will happen. it will have to happen at some point. certainly come of the performance of twitter and perhaps square as well. bob: the other question i have for square is as we start to see the banks get much more involved with these sorts of transactions, easier transactions, they are coming from a position of power. can they really weigh in more than they actually have? may have give

alibaba held its single day shopathon. the event has become a barometer of chinese consumer sentiment offering clues on the health of the chinese economy and its largest online retailer. retailers took notice. we caught up with the alibaba resident from china as the accident was underway. >> it's highly unlikely that we will continue to grow at six to percent each year because the absolute number is becoming so large that that would be difficult to do. as you can see, we are at least 30% higher than last year. it looks like we will end up between $18 billion and $17 billion. that's a 9% depreciation in the remembyi. the real opportunity is that we are only penetrating about 10% of the china retail market on offline online so there is huge potential growth and that chinese market. ali baba emily: president elect trump said he would end trade agreements around the world. you worked at goldman sachs and you have traveled the world, what would a donald trump presidency and these policies he is indicating mean for alibaba and c

alibaba held its first -- it's single day shopathon. the event has become a barometer of chinese consumer sentiment offering clues on the health of the chinese economy and its largest online retailer. retailers took notice. we caught up with the alibaba resident from china as the accident was underway. it's highly unlikely that we will continue to grow at six to percent each year because the absolute number is becoming so large that that would be difficult to do. as you can s, we are at least 30% higher than last year. it looks like we will end up between $18 billion and $17 billion. that's a 9% depreciation in the remembyi. the real opportunity is that we are only penetrating about 10% of the china retail market on offline online so there is huge potential growth and that chinese market. ali baba president elect trump said he would end trade agreements around the world. at goldman sachs and you have traveled the world, what would a donald trump presidency and these policies he is indicating mean for alibaba and china? ali baba >> these

i sat down with mike evans of alibaba. take a listen to what he had to say. >> china is not in the bubble. the economy is slowing but not slow. and the combination or components of the economy are changing rapidly from investment in old industrial and manufacturing to service and consumption. emily: as someone who focuses on emerging markets, do the numbers in china concern you at all? >> they don't concern me. they are obviously slowing down. they have been slowing down for a decade. but it is absolutely right. i do not think china is in a bubble. there may be pockets of overvaluation or excess. this is a secular story. this is the emerging markets consumer, the chinese consumer is a big deal. mckinsey calls it the biggest growth opportunity in the history of capitalism. you are taking those consumers and you are now giving them the internet on a smart phone and ing what are leapfrogg we would think of as traditional consumption. they don't have malls like we do. when you urge the consumer into low-cost smartphones and br

heldweek, alibaba spendingur sales blitz. notice.s took we caught up with alibaba mike evans live shenzhen, china. >> it would be very difficult to do. as you can see, we are at least 30% higher than last year. we have somewhere between $18 n $17 billion in $18 billion. 33% or 34%.ore like but the real opportunity is that we are only today trading about 10% of the china resale market online. and so, there is huge potential growth in the china market. so, we see substantial further opportunity for growth in the future. emily: president elect trump said he will end trade agreements around the world. the alibaba chair has urged him not to adopt an isolationist doctrine. presidency, trump and as some of these policies he is indicating, what would that mean for alibaba and for china? >> i approach this from a fairly pragmatic standpoint. china is a great country and the united states is a great country. speaking as a canadian, not a citizen or resident of either. these are the two largest economies of the world. for them to work t

its largest shareholder is alibaba group. amblin is looking to tap into alibaba pictures, digital marketing and distribution capabilities, including online ticketing, as well as merchandise sales and has the ability to reach alibaba's $434 million active users. >> we believe in building a platform where we can build partnerships and allow people to create content, reach audience on our platform. so since we established the company, we really reinvented our company in a way that we tried with technology. >> amblin plans to make up to six films a year under its dreamworks brand and three films under the participant label and wants to make as many as possible chinese co productions for even better access to that valuable chinese market. melissa, back over to you. >> thank you, julia boorstin. i think that is the key in terms of u.s. movie studios having true access. much easier as in many different industries to actually have a partner on the ground. you like alibaba for different reasons. >> i like it. jim chanos was on, talkin

alibaba's day frenzy begins at midnight. in $13nt bringing billion in 2015, 4 times more than cyber monday in the u.s.. tom mackenzie is in shenzhen. how big is this year expected to be? yes, welcome to a windy shenzhen. this festival expected to grow exponentially again this year. analysts are saying 90% of china's online consumers will take heart in the singles day festival. we seelysts say that if growth of 45% year on year, that will be robust. they are expecting strong growth, but more moderate in the big surge in growth we saw last year. aroundar saw sales of $13.5 billion. the shopping festival is expected to eclipse black friday by three or four times. it is of course a crucial event for international brands as well to build up their image with chinese consumers here, as well as giving big discounts, brands will be trying to push their image and grow their footprint in china. is whole festival as well that that missed test of the crucial chinese consumer, who are shouldering the burden at a greater level of the chine

how does alibaba buck the trend of a slowing economy? it is highly unlikely we will continue to grow at 60% each year. that would be very, very difficult to do. we are at can see, least 30 plus percent higher than we were last year and it looks like we will see about $18 bottom line. but the real opportunity is that we are only penetrating about of the china retail market online. there is huge potential growth in that china market, together with everything we are planning to do as part of our global expansion initiative. we see tremendous opportunities for growth in the future. emily: president-elect trump has said he is going to end trade agreements around the world. the alibaba chair has urged him not to adopt an isolationist stance. what would a trump presidency and some of the policies he is indicating mean for alibaba and for china? >> china is a great country. the united states is a great country. that's speaking as a canadian who is not a citizen or resident of either. these are the two largest economies in the world, and for them

mike, thing that are getting sold today, alibaba notwithstanding. staples, as we said, megacap tech, biotech is getting clobbered. >> today, yes. >> common themes? >> the common themes i think things that were perceived as stable that could grow in any sort of economy and not just a rapidly growing one, beneficiaries of inflation or winning and the ones you were hiding in when the world was seen as lower rates for longer and not growing very fast have basically gotten sold. so to me that's where the story of big cap tech, that's where you would have hidden. if rates are going up, you want to pay less on a p/e basis for those. i don't think it's that much more complicated than that except it's selling stuff people were buying into. i think it's been pretty violent and stark. a lot of this policy stuff is on the comp. >> there seems to be a big unwinding of the emerging market trade both on the sovereign side and on the equity side. and i'm wondering, mike, if you think directionally yields and rates are going nowhere but up. is that a space you even

emily: all right, moving onto alibaba. single day is coming up. in a couple day, the biggest shopping day of the year and in china, the biggest day by far for alibaba. paul, you have the numbers showing sales will be even bigger than previously expected, given the weak yuan. >> it is arguably going to spur transactions within china, as opposed to the chinese buying abroad. when you take a look at the single day numbers, the gross merchandise value they reported last year of about $40 million, just a huge number alone, expectations are that that number will grow dramatically this year. i think most investors really look at the growth rates, the trend in this company overtime. what we have seen, what investors have seen, is a very strong, organic growth grearaten china, which is the business funding the other investments around the globe. e-- other investments around the globe. emily: that said, how much is this really you know, a lot of shopping happening in one day, and how much of this is expert marketing on the part of alibaba? >> you are right.

emily: that was alibaba president mike evans from sin jane, china. coming up, our conversation with bob iger. and all episodes of "bloomberg tech" are streaming. check us out. this is bloomberg. ♪ ♪ emily: walt disney came out with earnings thursday. the company has been facing pressure. with westin caught up disney's ceo bob iger. take a listen. 2014 in 2015 had been record years for us. we continue to grow the company at a robust clip. the two biggest things we had to accomplish and fiscal 2016 is bring "star wars" back. one came back since the acquisition of lucas and then it was a gigantic success. third-highest grossing movie of all time. critical success as well. the second thing we had to do was open up the biggest, most ambitious project we ever embarked on, building disneyland in shanghai. on june 16, and proud to say that after four months, 4 million people visited the park d ey are loving what they have experienced. park inpects for that the most populous country in the world are really bright. biggest investment we have made outside o

alibaba outperforms again. how long will this last? we will hear from a ceo saying the internet of things will lead to a fourth revolution. this is bloomberg. ♪ emily: they have joined the list of investors getting into the tech fund. this is according to people familiar with the matter. they are holding talks with the in a net telecom and plant to incorporate emily -- money into the fund. softbank is in talks with investors if the fundraising target is met. the fun becomes the biggest equity fund in technology. china's largest e-commerce operator is shrugging off concerns about a slowdown in the local economy. 45% andhad earnings of revenue up 55%. they are talking about strengthen cloud services. we caught up with selina wang and kevin carter. they have the largest tolling of alibaba. are just now getting the internet on mobile devices. the consumer is the real growth story. the mobile and internet has changed the way we consume, it has changed the way emerging markets consumer. it's the reason you see such incredible growth. for a

he took a stake in alibaba early on. made tens of billions of dollars for the company and he'd like to do more of that. mily: all right. thank you. coming up, our he can cluesive conversation with steve ballmer, microsoft's former c.e.o. gives his thoughts on sales force, the l.a. clippers and what he has in store for his second act. ♪ mark: you're watching "bloomberg technology." a check of first word news. tomorrow the justice department will send more than 500 election monitors to 28 states. that's 35% fewer monitors that four years ago. federal poll watches has been curtailed because of a 2013 supreme court ruling that gutted a key provision of the voting rights rights act. e.u. commission president says refugees can't pick and choose which destinations they prefer to be housed. he says they have a responsibility to go where there is available space. he called the refuse albie refugees from greece and italy to board planes not flying to germany, quote, outrageous. opposition parties in the u.k. are pressing brexit

they have the largest tolling of alibaba. kevin: they are just now getting the internet on mobile devices. the consumer is the real rowth story. just as the mobile and internet has changed the way we consume, it has changed the way emerging markets consumer. it's the reason you see such incredible growth. for a company the size of alibaba is quite extraordinary. you were talking about the facebook results. they german 55%. there are not any companies the size of those two that can grow at faster than 15% on an annual basis. emily: there have been brought it concerns around growth in the chinese economy overall. i sat down with mike evans of alibaba. take a listen to what he had to say. mike: china is not in the bubble. the economy is slowing but not slow. the combination or components of the economy are changing rapidly from investment in manufacturing to consumption. emily: as someone who focuses on emerging markets, do the numbers in china concern you at all? kevin: they don't concern me. they are slowing down and have been

go long. >>> take a look at shares of alibaba. interestingly they had been up as much as 2.5% in the early going after the chinese e-commerce giant reported better than expected numbers. now as you see and perhaps because the broader market is also down more than it was earlier only putting up a slight gain at this point. interestingly shares of yahoo are actually up more than alibaba. remember yahoo continues to own that 15% stake in alibaba and does usually mirror its moves. as for the quarter itself it looked to be a pretty good one. adjusted ebitda margin was 62%. china retail marketplace revenue was up 40% year over year. its overall revenues because that includes cloud computing for example which is a fast growing business for the company up 55% year over year. mobile continues to be the key platform. mobile average users 450 million of them -- monthly average users, excuse me, on mobile, in september of '16. that was up about 30% year over year. transaction prices also increasing, so margin, monetization, all positive. alib

about a laugh day inhalf day in, alibaba looking to set records. sherry kang is tracking the action. we're breaking all kinds of records here. >> exactly. we are about to break last year's record of 14.3 billion u.s. dollars. i think it's jt a matter of minutes now. we are standing at 14.12. the last time i checked. but, y alibaba certainly owns this single day event with steep discounts. there are some questions about how sustainable this turbo charged growth of its singles day sales figure is. there are some questions about whether this sales figure really shows the real consumption power of young chinese. because some consumers are known to wait for days, weeks or months in some cases to make purchases. yes. so the u.s. s.e.c. is also curious about how much returns alibaba will have after today's discount, after today's singles day sales as well. so there are some questions to keep track of, but this is a chance for alibaba to show off its prowess as an e-giant of china and an ecosystem putting on fashion shows and gala events with global names.

michael evans, president of alibaba. thank you. >> thanks, guys. pleasure. >>> when we come back this morning kroger ceo rodney mcmullen, we'll get his take on the consumer and upm coing trump presidency. >>> and also this afternoon jeffrey gundlach with how his election will effect the markets. copper having a much more wild ride today as it goes into the red for the first time in a couple weeks. when a moment turns romantic, why pause to take a pill? or stop to find a bathroom? cialis for daily use is approved to treat both erectile dysfunction and the urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas for pulmonary hypertension, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, get medical help right away for

alibaba outperforms again. how long will this last? we will hear from a ceo saying the internet of things will lead to a fourth revolution. this is bloomberg. ♪ jonathan: emily: they have joined the list of investors getting into the tech fund. this is according to people familiar with the matter. they said the abu dhabi investor are holding talks with the in a net telecom and plant to incorporate money into the fund. softbank is in talks with european and north american investors if the fundraising target is met. the fun becomes the biggest equity fund in technology. china's largest e-commerce operator is shrugging off concerns about a slowdown in the local economy. alibaba had earnings of 45% and revenue up 55%. they are citing strength in cloud services. we caught up with selina wang and kevin carter. founder of emqq, they have the largest holding of alibaba. kevin: they are just now getting the internet on mobile devices. the consumer in emerging markets is the real growth story. just as the mobile and internet has changed the wa

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alibaba is investing heavily in reaching customers who use smart phones and tablet. andell as cloud computing technology. alibaba was formed in 1999 by law who got together 80,000 from 80 different investors to start an online marketplace. the richest man in china and the estimated net jumped $85 billion . the 158 billion-dollar valuation placed speaks to the bullish potential. growth sagging value showed some very that ite would suffer as china's growth soared. broadly in some investors expressed -- express reservation of management in light of the corporate structures. alibaba seeking to offset any by spendingchina more quickly overseas, including and has set a goal of striking 50% of the revenue from outside china. the more about alibaba and wick takes on the bloomberg. bloomberg.com for more stories. opec said to have started the final diplomatic push to reach a deal on crude reduction. we will look at the success next. have a looks at what is happening to nymex crude and crude. since september 20 get the biggest push since october 3. this is bloomberg. ♪ mark:

alibaba and time warner reporting this hour. the numbers and market reaction straight ahead. >>> and model and entrepreneur and grandfather of former president george h.w. bsh is joining us to talk about building her business. her company is looking to end world hunger. she's here to explain how as the second hour of "squawk box" begins right now. >>> live from the beating heart of business, new york city, this is quarterback. . >> welcome back to "squawk box" here on cnbc. i'm joe kernen along with andrew ross sorkin and kayla tausche. since august it has not been smooth sailing for a lot of the averages. and for a brief time yesterday we were actually below 2100 which hasn't been on the s&p which we haven't seen for awhile. >> and the discussion overnight about what was moving asia markets was uncertainty about our election. so it's spanning the globe. of course we're going to talk more about it. in the headlines this morning, we're a little over an hour away from adp's private sector employment. consensus called for 170,000 n

we talked about the intraday reversal for alibaba. posted stronger than expected earnings, shares as you see now have turned lower, below 100 bucks. what do we make of this? you used to be in it. >> i wasn't. i'll tell you what, you go through that report, you can understand why the stock was trading up, got up over 104 today. go through every single metric, all looks great. we all do remember what jim chanos was talking about when he was here. he talked about accounting issues that he was raising. but he wasn't taking them off, because you were getting e-mails during the show that day, from alibaba. they were saying, hey, look, we'll invite jim to come to china and visit to see what he's saying is not particularly correct. >> never accept the invitation to a fight you're invited to. a new york post story that said alibaba was cooperating with the s.e.c., the s.e.c. was working -- or the report said that the s.e.c. was working with one or more whistle-blowers as it investigates accounting practices. baba said it is cooperating with th

it is big business for alibaba. they passed $13.4 billion. here is more on the retail phenomenon of single day. as alibaba founder jack steps onstage, fingers are twitching across china. the annual brawl has begun, a 24 hour online bargain hunt. the website is frantic with activity, the whole country gripped by spending frenzy. she stops her way through -- shops her way through breakfast, trying to get a bargain copy machine. competition is intense, but her dream product is still on sale and 30% cheaper than normal. >> you might think it is not a big deal, but when you feel thrilled, it is good, like you have won a game. reporter: around one billion parcels are sent around china. delivery companies are weird up. robots are in continuous operation. they support the 2.6 million employees that ensure the products reach customers. one thing is new, alibaba is inviting customers into virtual reality shopping. >> welcome to macy's. reporter: they tend apart -- go three new york department store and click on anything they want. no need for the our s

sherri kang joins us from outside alibaba headquarters in shenzhen. this is a massive day for alibaba. how much are we talking about this time around? >> dominic, we are talking about 14.5 billion u.s. dollars, we are counting. we have six more hours to go until singles day. >> well, we've lost the shot from shenzhen, as you can see there. we'll get back to chery as we can. back to the broader markets. investors are piling into the dollar. it is strengthening against trading partners like the yuan, the mexican peso and bigger developed currencies like the euro and japanese yen. good morning, derrick. >> good morning. >> why is the dollar strengthening so much. we get the mexican peso and some of the rhetoric from donald trump, but against other big currencies, too. >> i think, you know, first off, the markets have taken a view in terms of the directions of trump policy and perhaps the early days of his administration. there's two clear avenues, one is the fiscal stimulus and domestic spending, the other is the more divisive and less growth positive av

alibaba's quarterly sales beat expectations. now we look to facebook with a focus on mobile advertising. nejra: for once the pound is benefiting from increased political risk. rising to a three-week high. oil markets are turning skeptical about opec's ability to deliver on cost. the chart telling the story right ahead. 90 minutes into the trading day. we have oil inventory. julie: we continue to see the fallout from that not only in the oil specific market. recent slide. it has to do with the crude oil inventories number. i looked at the chart. take a look. this is the weekly change. to taken all the way back 1982. just a few weeks after we had the biggest draw down on record this is the biggest billed by number of barrels we have seen on record. in percentage terms the week over week change of 3% is the biggest we have seen since 2008. fairly unprecedented. it comes a time when the oil market is already fragile. have already seen a pullback that is insignificant. 13%, 12.5% in the past two weeks alone. than six dollars being ta

alibaba turned singles day into a shopping holiday in two thousand nine. if you haven't bought nintendo's n-e-s classic yet, you could be out of luck already-- they're in short supply! nintendo just released the throwback version yesterday for 60-dollars... and it's already sold out on amazon. best buy, gamestop and target are only selling the n-e-s classic in stores. good news is, if you really want the gaming system... sellers for one-thousand dollars. folks around the nation are celebrating veterans day. we'll take you to what's being called the largest veteran's parade west of the mississippi-- right in our own backyard. folks on facebook got quite a surpising message on their timelines today. how the social media site is bringing users back to life-- after killing them off! your fox5 weather 24/7 forecast is coming up next this is fox5 news at 5:30, your only choice for live local news right whoa, this is awful, try it. oh no, that looks gross what is that? you gotta try it, it's terrible. i don't wanna try it if it's terrible. it's like mango chutney