tell us about softbank. absolutely, it is the talk of the market this monday because the listing potentially, sally, could be on two exchanges. 0ne sally, could be on two exchanges. one is the tokyo stock exchange, and there is a lot of talk right now that the second listing could be in london. media reports say the offering could be as early as spring, which falls between march and may, and the shares will debut in tokyo and elsewhere potentially around autumn. and if the listing materialises, it would rival the massive 1987 listing of nippon telegraph and telephone in size. softbank confirmed in a statement that the share sale is an option, but no decision has yet been made. the softbank group, which is majority owned by a japanese billionaire, reportedly intends to sell about 30% of the standing shares in its subsidiary to investors, while keeping a stake of around 70%. softbank has links with the uk because in 2016 it acquired a technology firm for 32 billion us dollars. and softbank shares are currently

softbank saying that listening -- listing of the softbank unit is an option, but no decision has been made to proceed with a listing. according to reports earlier, particular from the nikkei, expectations the softbank was ready to list its mobile unit, that would draw as much as $18 billion, or ¥2 trillion. softbank clarifying, saying it is an option but they have not made a decision yet, we will watch softbank shares at the tokyo open. let's get to the first word news with rosalind chin. tanker thatnian burned for more than a week after a collision on shanghai has exploded and sunk. it left a 10 square kilometer oil spill. all the members are presumed dead. it collided with a carrier on anuary 6 and was carrying toxic and highly flammable hydrocarbons. the sec had says always emergency authorities lacked safeguards to prevent the sort of false alert that told residents of ballistic missile attack was imminent. an investigation into the incident is underway involving state and federal officials. hawaii was sent into a panic by the false alarm, the governor blamed on an employee pushi

uberand uber and softbank finally reach a deal. the japanese firm is then largest stakeholder in the firm now. and is president trump following through on his promise to bring jobs back to the us as he wraps up his first year in office? welcome to asia business report. the deal is finally sealed. a group of investors led by the japanese firm softbank is taking a large stake in uber. the arrangement will make the ridesharing compa ny‘s co—founder arrangement will make the ridesharing company's co—founder and ceo of very rich man. earlier i asked our north american technology reporter why it had taken so long to get a deal. there were a number of moving parts. on the one hand we had uber‘s continuing controversies about information breaches, sexism and various lawsuits they were involved in and there was a lot to work through when it came to the nature of the deal. for example, softbank group and the investors in the deal or the shares from existing employees and investors at uber and also as part of the deal they negotiated

the softbank deal is incredibly important. uber will now have on its board thateo of the vision fund led the new funding. what is so important is that softbank is at the center of the ride hailing industry globally, toit is so great for over have softbank now as a major investor. dara is doing an amazing job. values have been revamped. tremendous progress in the last few months. he has hired a new coo, new general counsel. they are in the interviewing process for a new chairman. i think everything is on track. emily: do you think it ipo could happen as early as next year? said they, dara has ipo will be in 2019 and there is nothing that will happen that will change that. emily: you mentioned a new general counsel. tony west. how is tony doing so far? do you think uber will continue these justicey department investigations? how long will this sort of cloud be hanging over the company? arianna: i don't think it's a cloud hanging over the company. i think it is bringing everything to the surface to be dealt with. at the same time

softbank. the competition leads to greater customer base. ola versus uber in australia. australia. forward to that tough competition in the country. the country. the 3% jump in its fourth—quarter net profit. net profit. the company posted profitability of $11. profitability of $11. mainly driven by demand for its memory chips and display panels. memory chips and display panels. more than 8% after it unveiled a massive 50 to one stock split. massive 50 to one stock split. currencies and initial coin offerings. offerings. misleading or deceptive promotional practices. practices. being kept broad and may be fine tuned. tuned. company board riders, formerly known as quicksilver, has gone missing. as quicksilver, has gone missing. the man after his boat was found washed ashore without him. washed ashore without him. on tuesday morning but did not return. return. his company also owns dc shoes and the roxy clothing brands. shoes and the roxy clothing brands. are three—day china tour today with a. a. word before going to beijing and shy shanghai later in the week. shy shang

add in the other 99 or so companies that softbank has invested in. there are some big companies in there, some big names that seem to have a fair bit of success , and in others, a lot of potential. it's a lot of disparate areas as well. emily: obviously, i know we will continue to follow softbank across the map. bloomberg tech's dina bass, thank you as always for stopping by. coming up, more from bloomberg's coverage in davos. we will talk to the ceos of morgan stanley and the nasdaq on the future of cryptocurrencies. and if you like bloomberg news, check us out on the radio. listed on the bloomberg radio app, bloomberg.com, and, in the u.s., on sirius xm. this is bloomberg. ♪ emily: getting out of the bitcoin business, the online payments company says it will stop processing bitcoin transactions on april 23. the company says bitcoin has become less useful, explaining confirmationion times and fees have gotten longer for the cryptocurrency. morgan stanley ceo james gorman says bitcoin isn't going away, but he does have some reservations about the f

the softbank deal is really important. the --ll have the ceo of that led the new funding and what is so important is that softbank is at the center of the ride hailing industry globally, so it's so great for it uber to have softbank now as a major investor. and dollar a is doing an amazing progress inendous the last few months, he has hired a new coo, i knew general annsel, and there is interviewing process for a new chairman. i think everything is on track. emily: do you think an ipo could happen as early as next year? arianna: he has said that the ipo will be in 2019 and nothing can change that. emily: you mentioned a new general counsel, how is tony doing so far? do you think uber will continue to be dogged why justice department investigations or -- how long will this cloud be hanging over the company? arianna: i don't think it's a cloud hanging over the company, i think it is bringing everything to the surface to be dealt with. at the same time, the company is doing great things. it's not as if these issues of what ha

those shares are up 4% in tokyo today for softbank. still ahead, we are live at the asian financial forum to speak with luxembourg's finance minister. that interview coming up next. this is bloomberg. ♪ ♪ yvonne: this is "bloomberg markets asia." haslinda: some say the pounds rally may come under pressure this week in talks of a soft brexit. spanish and dutch finance ministers agreed to push for a view that keeps the nikkei desk keeps the u.k. as close to the eu as possible -- keeps the u.k. as close to the eu as possible. let's take you to the asia -- asian financial forum. reporter: we have here the finance minister of luxembourg. thank you so much for joining us. here in asia, and what opportunities do you see for luxembourg or other eu economies in new areas like tech or cryptocurrency? guest: i am here for many reasons. the asian financial forum brings together so many people. it is an event you cannot miss. we're going to talk about sin tech that's about -- about and cryptocurrency, but also about traditional businesses. with

know how, when will we successful softbank's fund is? obviously, they are making big bets on a lot of companies, really big bets. at what point doing know if this is really paying off? dina: i don't know. they haven't even finished off the whole fund. this fund is targeted at $100 billion. they have started making investments. think it'saterra, i too early to know whether that one company in the fund will be successful. the company's chairman told me they are at $1.3 billion in bookings, and he predicted it might be $10 billion in revenue in a decade. that's a huge bet, but it is still early days just for that one company. add in the other 99 or so companies that softbank has invested in. there are some big companies in there, some big names that seem to have a fair bit of success and of the -- and others a lot of potential. it's a lot of disparate areas as well. emily: obviously, i know we will continue to follow softbank across the map. dina bass, thank you as always for stopping by. coming up, more from bloomberg's coverage in davos.

emily: softbank has about $100 billion to invest in tech. levchin,jen, -- max the cofounder of paypal told me that it is like the asteroid in the room. how dramatically is softbank changing the investment landscape, the competitive landscape? jim: i guess i have seen a lot of asteroid scares over my career, so i am trying to take a balanced view of it. so what we have in softbank is a large fish in a very large pond. so the question is, how is that large fish going to change life in a very large pond? and i do think their appearance as a market leader will shift some of the tech investing landscape, but i also think it will shift more tech dollars into the private market over time, and may actually expand the opportunities set, as well as affecting the price dynamics. emily: so, what do you think about the position uber is in now today? what do you think uber is worth with dara khosrowshahi as ceo? jim: i am very excited to have dara in the seat. i think he is an excellent choice. i think the market will tell us what the values are over time

even if he had been fighting the softbank deal, he has done well. >>> american express reporting its first quarterly loss in 26 years in the fourth quarter but adjusted earnings did beat the street they will suspend the share buyback program for six months to rebuild capital following tax law changes in the u.s shares are down 2.5% >>> jpmorgan's jamie dimon received 29$29.5 millions in toa pay last year according to an s.e.c. filing, that's up more than 5% from 2016. his pay package includes $5 million in cash. his base salary remains unchanged at 1.5 million >> his total cash comp is 6.5 million of the 29.5 million number all enormous numbers, but when you consider the performance they've had -- 2017 was not as good a year for them as probably the previous three or four last year bank of america was the standout, but their performance was still strong yes, it's a lot of money but the bank is doing well when you look at how much other people below him are paid, daniel pinto, number two, followed by gordon smith, those are the two you point to as the most likely successors, if anythi

uber has completed its deal with softbank. the japanese conglomerate is now uber's top shareholder, after the group it leads bought $8 billion of stock in a discount. it includes the correction of extra board seats. softbank wants uber to focus on core markets, such as europe and australia. airbus has pulled back his superjumbo from the brink of collapse with the super order from the emirates. signing in order for 20 of the double attackers, with an option to buy 16 more. airbus says the deal will extend production of the superjumbo until 2029. and scientists believe man-made global warming caused 2017 to be one of the hottest years on record. even without pacific warming known as el niÑo. nasa and berkeley researchers ranked last year as only second to 2016, while the national and atmospheric administration record have beene second. global and atmospheric administration said it was the third warmest ever. both teams said the five hottest news -- on record have been this decade. 120al news powered by 120 journalists in 2700 c

softbank will become the taxi app firm's biggest shareholder. according to one report, uber co—founder travis kalanick, who stepped down as chief executive injune, sold a third of his stake, making him $1.1; billion. emirates has announced an order for up to 36 airbus a380s, securing the plane's future for a decade. the $16 billion deal is a reprieve for the superjumbo, after airbus threatened to stop making it. the a380 has struggled to match the sales success of boeing's smaller, more efficient dreamliner. now what is trending in business news this morning. from the financial times, emmanuel macron rejects special access for city after brexit. if britain pays and follows eu rules, "be my guest", says french president. from cnbc, hsbc to pay $100 million to settle currency rigging investigation. and from forbes, should junk foods be taxed to curb obesity? research says it works. and don't forget, let's us know what you are spotting online. you can use the hashtag bbc—the—briefing. that's it for business briefing this hour. conditions at l

japan's softbank is now the majority shareholder of buber in a $9.3 billion deal. dubai is one of the most valuable is start—ups in the most valuable is start—ups in the world. —— uber is one. at one point it was said they would invest in the uber rival, lift, if the deal fell through. after a series of scandals that hurt uber‘s reputation, they were pushing for more reforms. all of this has been agreed and uber will create some additional board seats and also do something quite interesting, eliminating super voting stock rights. these are held by early employees and backers of the company and it also means early backers like travis kalanick will no longer have a significant say in how the company is run. we also seen reports that the new owners, softbank, wanted to focus on the us and european market and avoid costly battles for the market share in india and southeast asia. thanks leisha. staying in the region where asian markets mostly rose on friday, edging up to record highs, after another positive week across trading floors but, as we saw in hong kon

the softbank deal can kind of alleviate some of that competition because softbank has invested in other companies as well. cory: that is one of the things uber has bailed on this year. they bailed on a very big chinese investment. to me it seems like they got out of that deal pretty good. but also they bailed on their ceo and basically their entire executive suite. the seamlessness of the transaction, get in the car and get there, get out, is gone. brad: i would describe it as a year where the manifest destiny of uber to be a monopoly of ridesharing around the world, is gone. and that happened because of the controversy, but also happened because there were savvy investors out there like masayoshi son at softbank, who saw tremendous opportunity for these other players. part of it was uber's controversy. part of it was like capital flooding of the market, boosting, propping up other players like didi in china. it is not winner take all anymore. uber is not the dominant player. that is part of what has led us here today to the fact that on this investment, uber is taking a valuation hairc

and softbank making another splash in the valley $865 million round in a construction start up. ceo joins us coming up don't gowa ay. ne, fadeaway. that was awful. why are you so good at this? had a coach in high school. really helped me up my game. i had a coach. math. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum -- just to help you improve your skills. boom! that's lesson one. education to take your trading to the next level. only with td ameritrade. >>> welcome back to "squawk alley. lots of earnings movers. united down despite better than expected results, down 12%, session lows the airline planning to expand domestic capacity. investors are concerned about the impact it could have on the profit margins, especially in the wake of a price war with low cost carriers. nonetheless, we sat down with the ceo oscar munoz and he addressed it >> competitive, always be those issues concerns with price are constant we do it at every one of our locations. >>> speaki

it's so great for uber to have softbank as a major investor. the cultural values have been revamped. tremendous progress in the last few months. he has hired a new coo, new general counsel. there is an interview in process for a new chairman. i think everything is on track. emily: do you think an ipo could happen as early as next year? arianna: already, they have said the ipo is an 2019. there is nothing that has happened that would change that. emily: you mentioned the new general counsel. tony west. how is he doing so far? do you think uber will continue to be dogged by these justice department investigations? how long will this cloud be hanging over the company? arianna: i don't think it's a cloud hanging anything over the company. i think it is bringing everything to the surface to be dealt with. at the same time, the company is doing great things. it is not as if these issues of what happened in the past are dominating everything. the company is growing, bringing in new measures, investment, bringing in great leadership talent. i think wha

. >>> softbank is offering an ipo for its japanese wireless unit >> softbank is considering a public offering of its cell phone unit, reportedly listing about 30% of shares in tokyo and perhaps london analysts say listing those shares would raise about $18 billion making it one of japan's biggest ipos softbank's japanese telecoms business is the cash cow making up nearly half of the earnings the firm calso controls sprint i the u.s., but some have been concerned about the large debt load with interest rates rising. recent investments include a 7 $7.7 billion stake in uber shares of softbank rose 3% in tokyo on monday. they closed up about 2% today. >> thank you very much for that. >>> citi group plans to increase compensation for women and minorities in the u.s., uk and germany. the move comes after citi's internal data shows women are paid on average 1% less than men and non-minorities make. citi is the first bank to respond to shareholder pressure and publicly disclose gender pay data they report numbers at 8:00. you would have to say 1% doesn't sound that bad >> yeah. >> versus, y

and softbank is putting more money in at a higher valuation. to aim to being higher. when it comes around, maybe it is $100 billion. that is a lot of money. eurotech -- it was a big driver there. it is a more narrow market than you would have thought last year. a similar story in asia. if you wanted to outperform in 2017, you had to be a big player in tech. is that the same in 2018? issues we hadhe in 2017, the positive issues, are still very much intact in 2018. obviously, some areas of valuation are stretched and where revenue is questionable. one looks at basic tech, the infrastructure of the tech industry, i think the outlook is very robust and you have to hold those positions. guy: we will wrap it up there. giles, thank you for joining us on the uber story. we are not done with bob just yet, he will join the bloomberg radio team over on daybreak. the conversation will continue at 9:00 a.m. london time. up next, we will look at what could be the big winners and --ers from the bond club from the bomb cyclone that has lasted on the east coast of the u.s. we will loo

he could get about $1.4 billion from the sale to softbank and investors. he owns 10% of uber. there will be a new ceo at neiman marcus. they have named the former ralph lauren executive to succeed their previous ceo, who retires next month. neiman marcus has posted losses by billions of dollars -- who is way down by billions of dollars worth of debt. let's look at this, still ahead, apple says chip security flaws are impacting all iphones, ipads and imacs. will it affect their stock? that is next. have a look at european stocks today. we are up for a third consecutive they. stock unaffected the u.s. jobs report, zero stoxx 50 is gaining and the stoxx 600 up by two thirds of 1% and the ftse holding to a small gain. it is the second weekly gain in three. cac 40 up by .68 and inflation data out of the eurozone but not enough to inspire want to believe the ecb is close to achieving its inflation mandate. this is bloomberg. ♪ is this a phone? or a little internet machine? it makes you wonder: shouldn't we get our phones and internet from the same company? that's why xfinity mobil

softbank courts in tokyo and overseas this year. it says listings could raise $18 billion with plans to apply to the tokyo stock exchange as early as the first half of a -- of this year. they do not say where the information is come from. softbank's fund will invest $560 million in german used car sales. haidi: bloomberg has been told ghp is asking valet to pay $1 billion for its 50% stake in the joint venture in brazil. the valuation includes a provision that they would assume its share of the remaining eye abilities associated with a deadly -- when negotiations are undone, they said -- are said to be seeking royalties. betty: indonesia's central bank is taking a stance against cryptocurrencies as an urges all parties to refrain from owning, selling, or trading tokens. a statement on saturday, they said virtual currencies are risky and inherently speculative. it says the fact that they tend to be use for money laundering and terrorism funding has the potential to affect financial stability and harm the public. much more head. housi

the tech website, the information, says softbank will use the uk holding arms as collateral softbank has said to be considering how it will use the newly 15% stake in uber to raise additional capital. >>> baidu is looking to bring netflix to china arjun ka phas more on that >> i sat down with the president of baidu, he was talking about how baidu would up their own spending on content and there would be more deals around the corner with netflix. we also talked about the investment baidu would be making into the u.s., and he said they would increase the investment in the u.s. >> i am concerned, you know, some of the anti-china sentiment. it's detrimental to china. detrimental to u.s and so i actually don't have a specific deal blocked by this, but overall, you know, i believe no borders in technology, talent, or trade there should not be friction cro >> so, baidu has a big presence in the u.s. despite some political anti-china sentiment out of the u.s zha flshgs zhang said they would continue to make deals with netflix and they have a huge research department in the silicon valley ded

al with softbank, triggering a deal of governments reforms. the japanese conglomerate is now uber's top shareholder, after they bought $8 million in stock. the deal includes the creation of -- they say something is urging uber to focus on core markets in europe, u.s., and australia. global news 24 hours a day. powered by more than 2,700 journalists and analysts in more than 120 countries. i'm paul allen, this is bloomberg. haidi: thank you for the. -- that. full-yearits first acceleration since 2010. it was a shock for the global economy and it is authorities more room to tackle excessive debt. we're joined in beijing for more. evenare the key takeaways below that could news headline number? takeaways are key that they achieved the forecasting growth in 2017 without these big pickups in credit or investment. in fact, the investment has slowed and bloomberg economics said that the debt to gdp ratio picked up in 2017, so about 264%. that compared to a pickup of 19% between 2015 and 2016. comparatively, a slower pickup in that debt to gdp ratio.

softbank in focus. we have been watching this stock, a korean stock that has interest in some of the cryptocurrencies. it fell quite heavily last week when south korea clamped down. we are hearing that south korea will not immediately seek a crypto shut down deal, according to some news. manus. thank you very much, juliette, with the latest in singapore. u.s. stocks and bull market's are closed today. that's for martin luther king day. the futures markets are up and running. aboveo-year yield jumped 2% for the first time since the financial crisis. fund manager joins me this morning to decipher these markets. sales are good, a bit of inflation on the way, attack steel, and jpmorgan are telling me they are setting the table. now for bigger dividends to come. i can hear winston churchill around here. never had it so good. [laughter] guest: conditions are very good. the interesting thing is compared to the skepticism of months ago -- [laughter] manus: the one. guest: when investors -- manus: go on. guest:

deals offered 50% of his is part of the softbank deal. today he should be a real billionaire, not a paper billionaire. sold $1.4 billion, so he is now stepping away and are up is taking over the oxygen. company. dara'ss >> what is the turnaround strategy? >> they were a rule breaking company breaking through the taxi company, so now they are the incumbent. they are striking agreements with london, brazil, and apologizing. there is a lot of apologizing, and disclosing of actions. dara talked about the hack of accounts before the press was on to it. it was owning up to uber's mistakes, and moving forward. >> we also had a fascinating detail on arianna huffington is being a big allied of his and had a presence in the company. >> she was super close to travis kalanick, she was for a long time seen as a loyalist. fresno with travis and when his mother died in a tragic boating accident, so they were very close. she plays an active role in the to some mixed reviews. and also bringing her expertise from thrive to uber. am looking forward to your

over has completed its deal with softbank a maturing reforms -- with softbank, triggering reforms. the japanese conglomerate invested one and a quarter billion dollars into uber. that is your bloomberg business flash. anna: thank you very much. as leaders gather for the world economic foreign -- world economic forum next week, the two largeste on the economies. it is one year since xi jinping emerged as a defender of the davos consensus. manus: since that speech, the u.s. president donald trump has enacted his america first agenda by withdrawing the u.s. from the transpacific partnership and the paris climate agreement and threatening to remain on nafta. what should the markets make of his historic role reversal? still with us. the scrambleagine around donald trump next week. davoscoming to challenge man and put the america first agenda on the table. what good comes from america first for markets in the world? -- for markets and the world. ? eric: a lot of people would welcome the devil's culture being shaken up aggressively. culture being shaken up aggressively. what is interestin

it also said softbank is considering eight global digital payment system to take on apple pay. iceberg research as creditors -- says creditors of a jet -- should reject the plan. the critique of nobles accounting march the start of a crisis that has brought the company to the brink of collapse. noble may be close to a deal with creditors for 3.5 billion dollars worth of debt. iceberg said it will not fix fundamental structural issues. yvonne: coming up, all change to commonwealth bank. matt common is-- named ceo. ♪ singapore. there are clouds but i could take the heat from what we are seeing in hong kong. nine degrees celsius in the city. we are a few minutes away from the open of trading. you are watching daybreak asia. let's go to tom mackenzie. tom: japanese crypto exchange c reimburseays it will people who lost money in the theft. the company will repay all the customers hit by the fact at any point rated at $.82 for coin. the are four months past cryptocurrency exchange rate law. the world economic forum came to a close with a self-congratulatory blood backslapping -- ca

and sure as of softbank rising after their considering an ipo of the mobile phone unit. an offering to bring about $80 billion. the softbank founder has been looking at ways to unlock the value and boost the company share price. that is your bloomberg business flash. anna: thank you very much. the euro has been gaining momentum in part because angela merkel and the german social democrats have taken a step toward forming a new coalition. all of that news developing over the weekend. for the latest, we will go to patrick donahue, who is a government reported in berlin and joins us. good to have you. in terms of the latest, how are things developing over the weekend, because on friday there was optimism about the ability of the german government to come together, a coalition to come together, but now we are reliant on the approval within the spd for this to go ahead. what are you hearing? patrick: friday was a big breakthrough, because you had angela merkel's block and social democrats finally come down to a preliminary agreement on setting up a new government, but we did

the softbank deal is incredibly important. has on its board the ceo of the vision fund. what is so important is that foss -- is that softbank is at the center of the ride-hailing industry globally. the cultural values have been revamped. tremendous progress in the last few months. he has hired a new coo, new general counsel. there is an interview in process for new chairman. i think everything is on track. emily: do you think an ipo could happen as early as next year? >> already, they have said the ipo is an 2019. there is nothing that has happened that would change that. emily: you mentioned the new general counsel. how is he doing so far? uber will continue to be dogged by these justice department investigations? -- how longh this will this cloud be hanging over the company? a cloud't think it's hanging anything over the company. i think it is bringing everything to the surface to be dealt with. the company is doing great things. issues ofas if these what happened in the past are dominating everything. the company is growing, bringing in new measures, investment, great

japan's softbank said it was going to create 50 —— it doesn't opt in the us. alibaba from china said it would create a million. but trump did put enough pressure on toyota to make it promised that it was going to build one factory in the us which would create some 4000 jobs. donald trump hasn't been as tough on trade with age as he said he was going. but he straps —— drastically change the direction of american trade policy, putting america first. while there has been a lot of rhetoric, not a lot in the way of concrete deals and action so it is doubtful whether his strategy will push america first or end up leaving america first or end up leaving america behind. in china, manufacturing and infrastructure spending and government stimulus have kept the world's second largest economy chugging along since the global financial crisis but over the past year, authorities have been cracking down on investments. that is expected to have dampened growth in 2017. fourth—quarter gdp numbers are out on thursday and our china correspondence has more on what to expect.

if you combine the direct investment from softbank and uber, that's about 1.2 5 billion. and more than 7 billion is changing hands, softbank and its consortiums buying shares from bloomberg -- uber. emily: some investors seeing some of -- him giving up his portions. the amount he has held and his power on the board has been a concern. >> this was already going to trigger governance reforms and change the power dynamic, move the power from early holders like travis and benchmark to a broader base. it also shows travis has moved on. if he is willing to sell half of his stake, maybe he is not fixated on uber to the same degree he was. and to anybody saying it is a new era, they are happy to see he is willing to cash out and start a charity or something. emily: is the money officially non-paper? -- is the money officially not on paper? >> the wire transfers haven't happened yet, they will happen this month, i think. the tender has happened, there are a few more steps. we are getting very close. emily: once this happens, everyone can move on? see. will emily: eric newcomer, ma

has officially completed its highly anticipated softbank. shareholders sold about $8 billion of stock at a valuation of about $54 billion at a price. discounted this puts into effect changes of the company's board and stock that were contingent on the transaction going through. create additional board seats, extending the total to 17. why one company made the pigot from trading bitcoin to handling cryptocurrency payments. the ceo of circle internet, next. this is bloomberg. ♪ selina: u.s. taxpayers may end up paying for the missing government data like launched by elon musk's spacex. the satellite came off of the rocket and crashed into the ocean earlier this month. industry experts don't think spacex or the satellite builder will bear the cost, because they have government contracts that limit liabilities tied to the last satellite. now let's turn to the cryptocurrency market. the roller coaster in prices we have seen at the start of 2018 east on thursday as bitcoin held onto gains above $10,000. litecoinhereum and jumped more than 5% and

. >> uber has completed its deal with softbank, triggering a series of governance reforms. the japanese conglomerate is now uber's top shareholder. tell us about the changes expected now that the deal is done. >> the biggest impact will come in the form of an expanded board, which will be increased to 17 seats. that is quite a lot of people by any company's standards. softbank will have two of those seats, strengthening the company's influence on decision-making going forward. the big difference is that the deal eliminates this two-tier voting structure for shares that heavily favored early backers as well as early employees. it will also put an end to a lot of internal strife that has handicapped the company, specifically ending a loss by a benchmark capital, one of their biggest backers. ♪ >> if you take a look at the bloomberg and the various business lines of merck, vaccines in blue, animal health in orange, and pharmaceuticals in white. overall, what you are looking at is tepid, if any, growth for the various revenue lines, particularly when you put them all together

. >> uber has completed its deal with softbank, triggering a series of governance reforms. the conglomerate is now over's top shareholder. tell us about the changes expected now and if the deal is done. >> the biggest impact will come in the form of the board, which will be increased to 17 feeds. that is quite a lot of people by any company's standards. softbank will have two of those seats, strengthening the company's interests going forward. the big difference is that the deal eliminates this two-tier voting structure for shares that heavily favored early backers as well as early employees. it will also put an end to a lot of internal strife that has handicapped the company, specifically ending benchmark capital. ♪ juliette>> if you take a look ae bloomberg and the various is this lines of merck, vaccines in blue, animal health and orange, pharmaceuticals in weight. overall, what you are looking at is tepid if any growth for the various revenue lines, particularly when you put them all together. juliette: there are about 30,000 functions on the bloomberg, and we always

what is so important is that softbank is at the center of the ride-hailing industry globally. it is great for uber. the cultural values have been revamped. tremendous progress in the last few months. he has hired a new coo, new general counsel. there is an interview in process for new chairman. i think everything is on track. emily: do you think an ipo could happen as early as next year? arianna: already, they have said the ipo is an 2019. there is nothing that has happened that would change that. emily: you mentioned the new general counsel. how is he doing so far? do you think uber will continue to be dogged by these justice department investigations? how long will this cloud be hanging over the company? arianna: i don't think it's a cloud hanging over the company. i think it is bringing everything to the surface to be dealt with. the company is doing great things. it is not as if these issues of what happened in the past are dominating everything. the company is growing, bringing in new measures, investment, great leadership talent. i think what happening on the legal front

. >> uber has completed its deal with softbank, triggering a series of governance reforms. the japanese conglomerate is now uber's top shareholder. tell us about the changes expected now that the deal is done. >> the biggest impact will come in the form of an expanded board, which will be increased to 17 seats. that is quite a lot of people by any company's standards. softbank will have two of those seats, strengthening the company's influence on decision-making going forward. the big difference is that the deal eliminates this two-tier voting structure for shares that heavily favored early backers as well as early employees. it will also put an end to a lot of internal strife that has handicapped the company, specifically ending a loss by a benchmark capital, one of their biggest backers. ♪ >> if you take a look at the bloomberg and the various business lines of merck, vaccines in blue, animal health in orange, and pharmaceuticals in white. overall, what you are looking at , growth for the various revenue lines, particularly when you put them all together. juliette: ther

and a lot of that was on back of softbank. so the technology giant has announced that they're looking to sell about 30% of its telecom business in an ipo set to raise about $18 billion. that would be the largest ipo in japan in the past 20 years or so. the stocks reacted very well to that news. softbank shares ended up 4% driving some of the strength in nikkei. >> ford has announced a mass i have investment in electric vehicles. what does that mean for that automaker? >> they've announced at the detroit auto show that they're going to invest $11 billion. they plan to have 40 different types of vehicles by 2022, including both hybrids and pure electric vehicles, including an suv, as well. this is a big division from the $4.5 million they had ear marked lft year. volkswagen have announced they're looking to spend $40 billion in electric vehicles. as you can see, the race for producing the best electric vehicle is very much in full gear. back to you. >> thanks so much. >>> still ahead, everybody, the search continuing for the mis

stake in the company for 4 $1.4 billion the sale is set to be part of a broader investment deal left by softbank the consortium is buying shares from early investors and employees to take a 17.5% stake in the company >> we don't know whether he wanted to sell any more of this or not but he wanted to keep more control, unlikely you can keep more control if you're selling some stake i think this will prove to be a great -- whether it's a forced decision or him or a chosen one, it's a good time to cash out a third of his stake it's a huge amount of his money. things could go all sorts of different directions interesting article in the ft about market share gains that lyft has made in the u.s. market and the fact they're only in the u.s. market at the moment, they're about to try toronto, that could be an advantage less cash burn, more profitable, less regulatory issues like uber is facing in london and around the world. >> the pain uber has felt, clearly a gain for lyft. we saw that in 2017. >>> we have a triple dose of news on apple. the company reports all mac and ios devices are affected by the

yvonne: uber has completed its deal with softbank, triggering a series of governance reforms. the japanese conglomerate is now uber's top shareholder. tell us about the changes expected now that the deal is done. pavel: the biggest impact will come in the form of an expanded board, which will be increased to 17 seats. that is quite a lot of people by any company's standards. softbank will have two of those seats, strengthening the company's influence on decision-making going forward. the big difference is that the deal eliminates this two-tier voting structure for shares that heavily favored early backers as well as early employees. it also will put an end to a lot of internal strife that has handicapped the company, specifically ending a loss by a benchmark capital, one of their biggest backers against travis kalanick. ♪ ♪ >> if you take a look at the bloomberg and the various business lines of merck, you have got vaccines in blue, animal health in orange, and pharmaceuticals in white. overall, what you are looking at is tepid, if any, growth for the various revenue lines

. >> and fortress was recently acquired by softbank i know you've told me they didn't invest in this project, but are there plans to invest in future infrastructure projects what's that relationship look like >> the relationship is one where we're an asset manager, they are our parent now they actually bought the stock of the company and took it private at the end of december, and we have a very good relationship with them in terms of the objectives for the firm, but on the individual investments we're quite separate from what they do. >> i know there's been a lot of reports in recent months that you were acquired as a quote, unquote, brain trust for softbank are you advising them on some of these investments with this fund >> i'm not optimistic enough to describe myself as part of a brain trust. i don't know the answer to that. i think we'll find a lot of ways to collaborate with them i think there's some terrific investment expertise they've had a tremendous track record over the years and we think there's a lot we can learn from them and hopefully vice versa, as well >> wes, we're

headed by china, owns sprint and british chip designer arm, shares of softbank up more than 9% over the past year. what they are doing, dagen, you are basically looking for capital, you're not taking on additional debt, in addition to the sprint story remember that softbank put 7.7 investment into uber but what does this mean for sprint and what are they going to take the money and do with it is the question in. dagen: what do you think, mitch? >> it's a global business and they have a private equity model and looking for businesses they can invest in and look something to add value and create -- cheryl: they own a lot of separate businesses, they put a lot of money in unproven technologies around the world, cutting edge, sometimes failing technologies. dagen: you do that when you the money. >> private equity businesses that they are buying in general partner and they are looking to find different ways to allocate capital. dagen: all right, we want to leave time for the minnesota miracle. that's coming up. the unbelievable play from the vikings game that catapulted the team to nfc c

yvonne: uber has completed its deal with softbank, triggering a series of governance reforms. the japanese conglomerate is now uber's top shareholder. tell us more about the changes expected at uber now that the deal is done. pavel: the biggest impact will come in the form of an expanded board, which will be increased to about 17 seats. that is quite a lot of people by any company's standards. softbank will have two of those seats, strengthening the company's influence on decision-making going forward. another big difference is that the deal eliminates this two-tier voting structure for shares that heavily favored early backers as well as early employees. it also will put an end to a lot of internal strife that has handicapped the company, specifically ending a lawsuit by benchmark capital, one of their biggest backers against travis kalanick. ♪ ♪ >> if you take a look at the bloomberg and the various business lines of merck, you have got vaccines in blue, animal health in orange, and pharmaceuticals in white. overall, what you are looking at is tepid, if any, growth for t

wanted to sell half of his stake that's a maximum amount board members were allowed to sell in the softbank transaction, values the company at a 30% discount to the latest valuation kalanick was limited because the round was oversubscribed this is an about face for him because this is, of course, the company he founded and has had unwavering faith in. he didn't want to leave uber last summer, but was forced out by investors he remains on the board and previously said he wouldn't sell any shares back in 2016 he even boasted that he never sold a single share of uber ever >> i think what a lot of people don't know is that i've never sold a single uber share, so the most expensive thing i bought, i bought before uber started, and it's my home, and it was right around a million bucks >> now it's safe to say, guys, mortgage will no longer be a problem. kalanick currently holds about 10% of uber, selling nearly a third of his stake, even at the lower valuation would give him $1.4 billion, minting him a real, no longer just paper, billionaire. the big question is, what is he going to do with all of

, but softbank as the biggest shareholder? the incoming board member from softbank has made it clear in terms of what he would like to see change at uber and he wants them to go back to its core areas of business, he would like to see them concentrate on north america, europe and latin america, and many of the expansions in places like india and china have not gone very well, and in those places we saw that uber had to sell its companies to local ride hailing apps and they believe it would be better off to concentrate on those core markets. what about in terms of governance7 uber has had a chequered history. i think that is part of the reason why you are hearing softbank wanting them to concentrate on these co re wanting them to concentrate on these core markets because there is so much government, governments are trying to push back on these ride hailing apps in terms of safety and workers' rights. if they are better able to concentrate on those markets, they might be better able to withstand that kind of governance that you

has beens as softbank examining ways to unlock value in boost the share price. morgan stanley and goldman sachs have been selected for the planned initial public offering. according to a person with direct knowledge of the matter, credit suisse and deutsche bank have been chosen to work on the ipo. , goldman sachs in credit suisse declined to comment. that's the bloomberg business flash. let's focus on the u.s. and donald trump. the immigration deal could not be reached and he blamed democrats. the president tweeted, "daca is probably dead because democrats don't really want it." daca is a program that shields undocumented immigrants from deportation. donald trump told reporters he is the least racist per son after making folder remarks -- after making vulgar remarks regarding immigrants from haiti and indonesia. stephanie, what can you tell us about these allegedly inflammatory remarks? is there a big fallout for the president? is there a fallout? 70: i think there is -- stephanie: i think there is a fallout. people over the weekend who said they first did not

uber has completed its deal with soft -- softbank, triggering governance reform. shareholders sold about $8 million at a discounted price to a group of investors led by softbank, making it the largest shareholder. the japanese conglomerate also invested $1.25 million to uber at a valuation of about $70 billion. that is your bloomberg business flash. juliette, thank you. economists have brought forward their estimates of when europe's central bank will set an end date for bond buying. action is expected that the next meeting thursday, the first change in forward guidance is foreseen for march. still with us, steven major, global head of fixed-income research at hsbc. ts for theave do ecb, per se, but we have almost every governing member on record with the exception of draghi, saying there should be an end date communicated. the you expect that anytime soon? somen: you can infer dot plot, because the rate we will end up with in a few years time is traded. if you went five years forward, it sits below 1%, which seems about right to me. in the u.s., it is above two,

interestingly, both ola and uber have a single investor in the japanese softbank and they would be competing in conditions which are quite different from india. but in australia, there would be more competition for ola from european taxi apps as well and the home—grown australian competition as well. we have now got remi olu—pitan with australian competition as well. we have i thegot remi olu—pitan with f 7 7 australian competition as well. we have i thegot f manager’itan with f 7 7 we have cpl—“age ‘l—llll ll lll all..— !l!l lllll cpl—“all ‘llllll ll ll. llll lll'l !lllll mentioned cpl—“all ‘llllll l.. ll. llll lll'l !lllll mentioned the cpl—“all ‘llllll ll ll. llll lll'l lllll mentioned the fed. the last cpl—“all ‘llllll ll ll. llll lll'l lllll mention presided i. the last cpl—“all ‘llllll ll ll. llll lll'l lllll mention presided overe last cpl—“all ‘llllll ll ll. llll llll lllll mention presided over by|st cpl—“all ‘llllll ll ll. llll llll lllll mention presided over byjanet meeting was presided over by janet yellen, the fed chai

on a different dara: softbank is an important shareholder, our largest. many of our shareholders have opinions over what is the right thing to do. the governance of the company will be at the board, and we will have those discussions at the board and set our long-term strategy and acute. john: -- execute. john: one of the things that uber played a role in is the sexual harassment question and everything to do with that. do you think you have sold that part of the culture? d think that this time this is a real revolution and it will stick? dara: i think that what was happening at cooper was serious -- uber was serious. what uberat while, , thishrough was difficult was probably one of the best things that happened and it started a movement that is incredibly important. i would be reticent to say it is solved, but it is not an indent make issue within the culture of issuempany -- endemic within the culture of the company. i think the company took harsh and appropriate steps to make sure that kind of behavior, it is clear that is not accepted in any way, shap

the stock sale comes as a japanese firm softbank prepares to buy a stake in the company. >>> did you ever find yourself wondering how much your medicine will actually cost when you go to the pharmacy or try to discuss health issues with other customers when you're there? prescription drugs is a $400 billion plus business in the u.s. but only 1% is conducted online right now. one new york city entrepreneur got the bright idea to relieve some of the pain points with a digita >> reporter: when eric went to his drugstore to pick up a prescription medication in january of 2015, his headache was just beginning. he waited in line nearly an hour before speaking to a pharmacist. >> he said i'm so sorry, we're out of stock of z-pack. i'm thinking, it's january, this is the only thing that pharmacies should have, i can't belie this an experience that exists on every street corner in america. >> reporter: it's a problem that's getting worse. 42% of the respondents in a 2016 survey said their pharmacy was out of stock at least once, causing them to make a return trip, up from 33% back in 2013. st