alibaba of course. alibaba is down 20% thereabouts in the last two trading days. at the moment, we we do not have that one, but we have tencent down. also 5.3% down. a lot of nervousness here certainly. juliette: and that is really weighing into the hang seng. the tech index pulling again today. as you say, when we are looking at alibaba itself stead in hong kong, it has dived, despite the fact it raised its share buyback which was supposed to bring calm and optimism to the market. raising two $10 billion, offering more support. this effective for two years until the end of 2022. year-to-date, alibaba up by about 4%, but it big slide today, down for its 6th session in a row. rishaad: absolutely. a lot of this stems back to november. global investors at the moment on the cusp at that stage of a massive windfall of what would've been the world's biggest ipo. antgroup here. we have those returns of course asver happening, as that ipo w naturally pooled at that stage. it is the likes of tencent and alibaba taking the sheen off of the gains we are witnessing at the mom

so, we think of alibaba doing it on the e-commerce side and i think that's where alibaba can finish it. so we think the market is with the ratio of business loss to competitors. >> well, it certainly makes things a little less certain, given the actions of the government i wonder, ant financial was once a part of alibaba but spun out some time back but there's some thoughts perhaps some of the other business, the cloud business, could take a point some of the others does the government action particularly against ant preclude any sort of moves that alibaba would make to enhance shareholder value through other transactions >> yeah, i don't think so. i think -- i think that the end would be the specials because that's in the financial industry which is highly regulated in china. and then, i think particularly for cloud, cloud is still in the very early phase in china in terms of the cloud adoption and the deceleration of the enterprise i think -- i wouldn't expect any sort of the potential, regulatory -- the fuller scrutiny in the cloud business >> hans, what about the intranet sector an

they cannot go and then trade with alibaba's go and then trade with aliba ba's competitors, but alibaba is huge, it's the world's largest retailer, one of the biggest online companies on the planet so we can wield an awful lot of clout to what they are looking to do is to try to see how much clout it is wielding. it was a one sentence statement so we don't really know where this investigation is going to go, but alibaba so they will actively co—operate and in early trading, shares of alibaba and in early trading, shares of aliba ba plunging and in early trading, shares of alibaba plunging on the stock markets and it's interesting that the communist party newspaper backing this move, saying it was an important step in the digital oversight. is a clear way all of this is coming about now? hello yes, it seems to be linked to events that happened last month in november. aliba ba happened last month in november. alibaba is owned and was founded by the billionaire who also founded a company called ant group. they own one of the largest digital payment companies. it was going to go from bein

so it's growing at five times faster than alibaba. jd.com, although it's still smaller on a market share basis, it's growing faster. so it's hard to argue alibaba actually has a monopoly in the marketplace. when jeff bezos was in dc, how he defined the market share, he said he's only about 15% of the retail market, even though he's 50% of the e-commerce in the u.s. so if you look at china retail, e-commerce is only 35% of the total china retail, so alibaba, it's 15% of the 30%, so it's only 15% of the china total social consumption so is this a monopoly? i don't know it's up to the public opinions and lawmakers and regulators to decide >> june, always appreciate it. thank you. >>> and today marks one year of covid-19 we'll take a closer look at the impacto e st tthreaurant industry after the break see yourself. welcome back to the mirror. and know you're not alone because this. come on jessie one more. is the reflection of an unstoppable community in the mirror. nature's bounty unleashes something exciting. say hello to a drug-free wa

alibaba says it will not hike the share buyback. but that goes in at $10 billion from $6 billion to support the battered shares. great to have you with me. what exactly is the pboc demanding? >> they stopped short of asking directly for a breakup. the company understood the necessity. coming up with a proposal and a timeline. and disdain towards regulatory requirements. manus: as you say, they have not exactly called for an entire breakup, but one could say that this is more reasserting of the power and credibility of the central bank. putting in context the online business relative to the reach in other areas. >> the impact is tremendous in china, serving 500 million users and suspending -- and businesses from wealth management to payment businesses. they processed $17 billion of transactions in a year. what is certain is that regulators are trying to assert more control over the country's internet industry and the financial sector, placing financial stability as the top priority. you are right in the sense that investors are still

we like alibaba. i agree with everything baba ann said >> go to the dog >> so down 8% on the buy of slack. i like the buys for salesforce it has filled in the august earnings gap i like it between now and about 200 bucks. >> the dog has been chewing on a piglet behind her for the entire hour and we did not hear a peep. >> >>> i am here to help you make money. "mad money" starts now hey, i am cramer welcome to cramer america. my job is not just to entertain you but to educate you and teac you. call me at 1-800-743-cnbc or tweet @jim

we have several of them over here now as we look at alibaba, let's get to eunice yoon on the alibaba probe. eunice >> reporter: thanks so much, jon. the country's top market regulator said it's investigating alibaba's alleged monopolies stick behavior including a practice known as pick one of two which is essentially forcing merchants on the sites to work only with alibaba as opposed to any of its competitors. separate to that, alibaba and jack ma's ant group has been sum m moned has beto come in and talk this he was highly critical of the beijing authorities. in that speech he suggested that regulations in china should promote not kill innovation. he said that global banking regulators suggesting that the people who are sitting there in the room are part of an old man's club and he said that chinese finance can't have systemic risk since essentially china has no system. so jack ma is known to be flamboyant, very outspoken, critical of the government over years, however, this speech was seen as especially egregious because he has made so much money here and also he was just about to

alibaba has many more components to its business. it's hard to find a solid comp for alley bobibaba, but i can p5 times earnings for amazon and 23 for alibaba. perception on what the chinese government means when it calls for more regulation. inat vert ently they are saying put up more capital. it creates interest and over time that makes this business even better. not tomorrow, but over time. so if you are patient and can wait two years and not two days, i think baba is still a great buy here and a wonderful opportunity of really digging in and doing homework this year has been all macroand i believe fundamental valuation still matters. what you have here is a bear market and fundamentals. >> i can't wait for the next ten minutes to see who barbara ann name drops >>> there is one name that has gotten extra special attention from traders we will tell you what it is and how to play. tune in for a bonus hour of "fast money" coming up next. we are awengnsri your questions so don't be shy, send us your tweets ♪ ♪ digital transformati

alibaba coming back 6.4% towards the hong kong lunch break. i can tell you that means its share price lost about 10% over the last three days. tencent holdings up 3%. three-day losses, 6.5%. overall, this is what it looks like for equities in this part of the world. stocks on the up with the up with u.s. and european futures as well. record highs in the u.s. and germany saw its dax hit a record too. this gauge of global stocks, fresh records. japanese fed leading the way at levels we have not seen since 1991. there we go. we have a lot more on the way. that is it from bloomberg markets. it is daybreak middle east next. ♪ ♪ emily: welcome to "bloomberg technology." i'm emily chang in san francisco. over the next half-hour, we will look back at some of our biggest interviews in this unprecedented year, 2020. while a global pandemic created tidal waves of uncertainty, the tech sector seems to do what it does best -- adapt. we begin with the tech companies that made it to the public in 2020.

companies, taking aim at their own, alibaba, ant financial, curious what you make of this, with alibaba shares down about 8%? >> you know t is interesting here the u.s. we tend to have a view of china again as you say being hard on us it's interesting to see china react in a way we might tend to think of as normal a bad actor so to speak having the governmental regulators come down on them and impact them in a harsh manner i look at that long-term as a good sign, maybe that's applicator china is moving in an area more similar to what we're typically accustomed to and as we look to new biden administration, how does the world react to somewhat normalized interactions with each other around the globe. >> so quickly, buy, sell, or hold this stock right here >> i'm sorry, which stock that >> alibaba >> alibaba, ooh, hold. >> we'll keep it there lee, thank you thanks for joining us, lee baker. >> happy to be with you. >>> premarket trade stocks poised for a higher open, the dow up 160 points, the nasdaq up 81 that does it for us on "wlddexcng "squawk box" is next nature's bounty unleashes so

what is the risk to alibaba here? lulu: for alibaba, their trouble is that the chinese antimonopoly regulator is launching an investigation into the company. their ownuded investigations on friday and people are waiting to hear what the results and the scope of damage that the company is facing. crackdowns isly an industrywide target. alibaba being the largest e-commerce company does make it a high target profile. about thealk potential tech sector in china. there was a more widespread selloff on that risk today. how seriously should we be taking that risk? is this just the beginning of the chinese authorities deciding too sector has become high-profile and as a result needs to be knocked down a little bit? is that a risk for the entire sector? lulu: that is a good question, and what investors hope to find out. regulators have not been very transparent, in terms of what their intentions are, apart from saying that this is to protect the concernhts and is that some are saying this is a watershed moment where the chines

the alibaba -- cloud shield service. the alibaba chinese website showed how to root out people using the software and it was not advertiseoutside china, so it was a chinese focused software. alibaba responded to these accusations saying it is dismayed to learn this feature exists and it has deleted the ethnic tagging is algorithm. the question remains about ties the company may he to the chinese government, and whether it is helping, aiding, and abetting, the chinese government in its persecution of the uighur norte. --minority. >> moving on, today's focus report takes us to asia. south korea clocked over 1000 new covid-19 cases this friday, the third day the rise in infections has been above the 1000 mark. a massive chunk of these cases have been confirmed in the heavily populated capital, soul, -- seoul, and in surrounding areas. our team on the ground sent this focus report. >> cap they look like everyone is glued to their smartphones-- it may look like everyone is glued to their smartphones, but south koreans are kee

on thursday, alibaba new york fell 13%. is this just going to be for is the's empire or contagion going to spread across other assets when you look at chinese companies? we start with our top story out of the united states. president trump signs a $900 billion pandemic relief bill. demandsdown from last it includes one point $4 trillion to fund federal agencies through september. trumpsigning the bill, demanded a vote in congress to increase to $2000. bruce einhorn, thank you so much for joining us. ago, trump week called the bill a disgrace but now, he's signing it. what has changed since then? bruce: nothing has changed in the bill. the same bill is the one he's pointeded, so as you out, he's issued a statement saying he's demanding congress make all sorts of changes, that they get rid of a lot of spending that he wants rescinded, but that is not the way the process works. he signs the bill, it is now a lot. he can ask congress to make changes and they can ignore him and democrats in the house will do that. annmarie: what

money in americans' pockets putting the fate of a stimulus check bump in senate hands >>> and shares of alibaba on the rebound after china's crackdown, raising new concerns about what is next for the country's technology sector. >>> and boeing's 737 max jet prepares to take off again what the plane's return could mean for the company's battered stock. >>>nd t and the unexpected booso trading cards. once again finding themselves in high demand. it is tuesday, december 29, 2020 and you are watching "worldwide exchange." ♪ >>> here is how your money and global markets are setting up your day futures are indicated for a higher open. dow jones currently up 170 in pre-market trade, nasdaq higher by 55. yesterday we saw the rally kicking off the final trading week of the year, all climbing to fresh record highs with all three now trading about half to 1% higher. shares of mega cap technology and internet companies leading the charge and extending their gains for the year including one stock you know also well, apple, rising more than 3.5% to close at its new all-time high the stock has risen more th

chinese investigators are investigating alibaba for allegations of monopoly practices. some children are a little bit worried about becoming christmas. and father christmas is reassuring people gci’oss christmas is reassuring people across the world his essential journey will not be stopped by a virus. hello to you. after years of to and fro and nine months of actual tour, the uk and the european union seem to be close finally to striking a post—brexit trade deal. british cabinet ministers were summoned for a conference call with the primer so late on wednesday evening and any announcement is likely to be held over to a thursday morning press conference. talks have continued for the night. the final text is said to be about 2000 pages. with the view from london and brussels, here are our correspondents nick eardley and kevin connolly. the talks are going to go on for a few hours yet. we know they are into the nitty—gritty. it is really crossing tees and dotting the eyes. the latest we heard is that it is likely to be included in the next few hours and it looks lik

let's look at alibaba's hong kong shares, taking an absolute humbling. the share price down so much, is now below the target price of the local listing in 2019. the 270 one price target for the stock and also a buy recommendation that was made in may. haslinda: let's bring in lulu chen who leads as your real estate investing coverage. regulatorythese crackdowns? >> we know that as far as china's watchdog is probing alibaba and the regulators including central bank and summoned theve group separately for a meeting including trying to increase stringent financial regulations. people are trying to find out the scope and length of how wide these crackdowns will really go, and also what it means for jack ma's trillion dollar empire. the draft rules have been very thin on details. that said, it does give the government unusually wide latitude to rein in tech entrepreneurs like jack ma. rishaad: it all seems a bit ominous for china's internet companies. saying that this is the equivalent of a watershed moment, because until now, chinese tech entrepreneurs have

the price target on alibaba's u.s. shares, citing some uncertainty around government oversight and potential for further direct regulatory action. , they areprovides said to be mulling this holding company. significant pullback is holding a buying opportunity. tech giants have been hit incredibly hard, as we know. the white line is alibaba. it is further from analysts 12 month price target in hong kong. and analyst recommendations in hong kong after the new year break. manus: thank you very much. now, to the pound. question some of the details. the eu envoy unanimously approving the accord. that is ensuring that the eu and britain can continue to trade goods. -- that eu officials financial regulation and oversight is strong enough. let's get the details with our finance reporter. the future,s around i don't think it is very much that laxity robustness, it is whether the equivalent will be granted. the equivalency, decisions where the eu has to be , and the u.k. pretty much is robust. decision.litical the eu is using it

and it could affect alibaba long-term. l: we did see alibaba shares taking a beating in the u.s. on friday. the biggest one-day drop on record. keeping a close eye on the hong kong open. let's get over to karina mitchell. good morning. u.k. prime minister boris johnson admits the brexit deal does not go as far as he wanted and weakens financial services. businesses are waiting for details of the agreement but there has been little clarity on equivalence. members of johnson's own tory party says -- say there is not enough time to read the deal before a vote on wednesday. china's industrial profits road at the -- grew at a slower pace. year to date rise, up 2.4%. new analysis shows the chinese economy will not take over the u.s. economy in five years due to its handling over the coronavirus. virus numbers in sydney's northern beaches have risen to 122. the clusters sent the area to a lockdown in does a blow against australia's fight against covid-19. and cases reach a record in tokyo amid reports of a new virus variant. state media is attacking the judicial system in hong kong for

jackie: coming up, alibaba under pressure. beijing cracking down on one of china's biggest companies. the impact coming up next. >>> plus, virtually fighting the pandemic, how artificial intelligence is helping health care workers detect the virus, that's next. stay with us. ♪ boy, just know you can't escape me -- ♪ ooh, darling, but you'll also be my if baby. ♪ did you know you can go to libertymutual.com to customizes your car insurance so you only pay for what you need? really? i didn't-- aah! ok. i'm on vibrate. aaah! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ ♪ jackie: good morning. china'sing crackdown son on some of his biggest companies, taking action against jack ma's two crown jewel companies first launching an antitrust investigation into alibaba over accusations of pressuring merchants not to sell on other platforms. ma's ant group also on the line after beijing crushed its ipo last month, china's central bank saying it will meet to implement new regulations. joe, your reaction

alibaba is under an antitrust investigation. i think it is fair to extrapolate that jack ma is clearly in their sites. as i'm sure you know, he made some controversial comments about chinese regulators. the low risk tolerance in october. which may have set things off. he is the richest man in china. his two companies, they straddle the entire economy. with or without those comments, it could have been a question that the regulators, the party felt it was true at -- it was time to rein him in. when you look at companies such as tencent and mate juan have done, there is sentiment among investors -- these companies have fallen 15% since the financial ipo was scrapped. investors definitely think it could be a sector wide attack as well. romaine: there does seem to be, at least among investors, the general assumption, at least with jack ma, that they flew too close to the sun. the idea here that he is being made an example of. and that if you are a ceo or any sort of tech entrepreneur out there in china right now, you have to be mind

in alibaba, this was back 2017. twolators are saying these have grown too big too fast and it loads ill for deals going forward, according to bloomberg intelligence. rishaad: that brings me to the natural question, what is the ultimate aim of regulators? i've justf course, as said, these companies, if we are going to use those two examples, alibaba and tencent perhaps have grown too big in their all-encompassing platforms. the regulator clearly wants to tock down on the ability weed out competitors. they want to stop the subsidizing of services, often times at below cost and also weeding out competition. going forward, we have to look as well at this deal. twohe livestreaming space, tenths & co.'s were going to merge and the regulator says -- goingncent companies were to merge and the regulator says they have to review that. perhaps is too much control for one tech titan. rishaad: stephen engle there. checking on regional indices, headed in one direction, and that is south. --have the beijing camera -- tradetraits t

>>> good morning, it is midnight at alibaba headquarters in china. it's 11:00 a.m. on wall street and "squawk alley" is live ♪ >>> happy thursday welcome to "squawk alley." i'm jon fortt with carl quintanilla and julia boorstin we're going to try to give you a peek at the future, what tech trends will be important in 2021 will 2020 winners continue to run? j joanna stern is going to give us a consumer tech take we're going to hear from marvel's ceo on semiconductors, carl >> yeah. we're going to kick it would have a real treat, jon our first guest this hour, giving us a sneak preview of her best tech predictions for the coming year, "the wall street journal's" joanna stern joins us this morning also, of course, a cnbc contributor. merry christmas, happy holidays, good to see you. >> good to see you too happy holidays. >> we've got -- i love your list i just want to go through what i'm guessing is one of your favorites and that is it's going to be a big year for, i don't know, a stair step function of the chip >> you know how much i love lap tops i do think -- let'

that's on hold at the alibaba group shares that at the moment they dropped about 5 percent they dropped 3 percent when the market opened in hong kong on thursday at the chinese regulators have said that they wanted to touch one troll over these tech groups across the mainland and clearly alibaba group has been the target now state media has released one line about this announcement on thursday there's no detail yet as to what kind of penalties will be involved there are certain things about sort of what the who called. tensions are high in the central african republic ahead of presidential and legislative elections on sunday a new alliance of groups calling itself the patriots coalition for change has threatened to march to the capital bangui the united nations mission says it's pushing back the rebels to prevent them from taking control of important supply routes and strategic towns catherine soy reports now from bangor. make. wide quickly spread that troubles could be making their way to the capital who are in the city center and suddenly everyone around us started running and traders

beijing is expected to probe alibaba group on suspected monopoly. kinda financial regulators are expected to summon ant group for a meeting, this coming after an abrupt suspension of their ipo. we have seen jack ma now scrutinized by beijing beingities after that ipo shelved, which was supposed to be the world's largest, surpassing saudi aramco. but recently, beijing authorities have been changing the landscape of regulation when it comes to fintech. and now, we are hearing china will be probing alibaba group on suspected monopoly. this as we continue to see efforts in the country to rein andech giants like alibaba their fintech branch and group. let's turn to markets, sterling exit -- on a brexit outline deal. investigators are putting the finishing touches on a deal but it was enough to send able higher. the bloomberg rates reporter joining us now. david, sterling has risen on the news of the potential deal but still remains below the december high. what is happening? david: yeah, that is the interesting thing. basically the markets have already p

. >>> coming up, alibaba shares rebounding after regulatory ra a crackdown sparked a slide. hey, dad! hey, son! no dad, it's a video call. you got to move the phone in front of you like..like it's a mirror, dad. you know? alright, okay. how's that? is that how you hold a mirror? [ding] power e*trade gives you an award-winning mobile app with powerful, easy-to-use tools and interactive charts to give you an edge, 24/7 support when you need it the most and $0 commissions for online u.s. listed stocks. don't get mad. get e*trade and start trading today. >>> new this morning, planning put ant financial into a new holding company. it would be absorbing any unit that would require a financial license. the stock rose after a two day decline. meanti meantime, the u.s. government strengthened an executive order barring investors of buying securities in chinese companies. the november executive order applies to investors in etf and index funds as well as s subsidiaries since the order, index providers have already gun shedding some of the companies from their indices. joining us now t

alibaba is just like any american company i like alibaba has been on my buy list forever and you are in a terrific shape on that one can we get robert in north carolina, robert >> hey, jersey jim cramer. hello from north carolina. >> a beautiful place >> my beach house is okay. it is nothing to rave about. >> yeah, to play golf down here? >> not a golfer. i don't have the temperament you know so what's up >> hey, i got a question kimberly-clark back in april, depth charge to $112 august to $158 then they had bad earnings, the third quarter and down to $136 >> torpedos. >> what's wrong with the management of that company >> they're fine. the chinese is giving them a hard time. it is an okay stock when you include the dividend i am not going to back away from kimberly-clark it sure seems like the market is one big game of jenga, does it it does feel that way at times all right. don't worry, the tower is still here, all right? mad money tonight, since 1969, 34 out of 45 years, we have seen a late christmas or december rally. is a santa claus rally on the horizon this year? i am going of

alibaba upsizing its share repurchase program to 10 billion u.s. dollars, announcing a $6 billion share buyback. alibaba executives summoned to a meeting with regulators in china over alleged monopolistic practices. we saw alibaba shares having their worst day ever in the u.s. on friday, falling 13%. we saw shares in hong kong ease as well. that shareizing repurchase program to 10 billion u.s. dollars. we just had korea open as well and we are seeing positivity for the kospi at the moment. markets are stronger by almost .9% right now samsung leading the way, that stock higher by 2.3% so the kospi building on the decent gains it saw on friday. we also have a pushing higher by .5% and the korean won finding a the moment.gth at south korea holding off on its highest one as well. on new cases reported sunday. that's get some more on the markets now has we start another holiday shortened week. there is plenty to suggest on the stimulus in the u.s., what's going on with the coronavirus, and brexit as well. our editor joins us now from singapore. let's st

more on alibaba and what is next there and the ant financial 33% owned by alibaba as well on the next hour of squawk alley. we are back on "sqwawk on the street" with more after this >>> let's get a check on shares of lemonade. now about 15%. this is ahead of the company's lockup expiration which is set for tomorrow which would unleash about 44 million shares into the stok market the lockups can shares with it but keep in mind, lemonade, an online insurance provider is one of the best performing ipos this year until today, up about 350% since its july debut you can see shares down pretty dramatically now ahead of that lockup expiration. it's also worth noting a lot of the ipos that have performance similar to lemonade will start to see the lockups expire by the first quarter of next year so that's something to keep an eye on, especially on the huge runup this year. the lockup expirations, david, as you know, they can be an event to people tend to sell off on in additional supply to the market it expands the flow a little bit and it makes -- it can put some pressure on. >> yes >> on so

it's affiliated with the e-commerce giant alibaba group and operates the payment app alipay. watchdogs including the people's bank of china and the china banking and insurance regulatory commission announced on sunday that it asked the group to review its business practices. ant group had expanded its financial services to include small loans and insurance. the regulators ordered that it return its focus to payment services and establish a new company to extend loans unde their supervisn. alipay is estimated to have more than 1 billion users, mainly in china. last month, ant group's initial public offering was suspended following a meeting between chinese regulators and company executives. the chinese government has been intensifying pressure on alibaba after its founder, jack ma, criticized financial authorities. the government launched an anti-monopoly investigation of alibaba's business activities. ♪ >>> let's check on the weather now. here's a look at the three-day forecast for cities around the world. >>> that's all for now on nhk "newsline." we'll be back with the lat

up next, alibaba under pressure this morning. china targets the internet empire in a monopoly probe, sending shares stumbling this morning. we are down more than a percent in hong kong trading. details, and. this is bloomberg. ♪ are you frustrated with your weight and health? it's time for aerotrainer, a more effective total body fitness solution. (announcer) aerotrainer's ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time, all while maintaining safe, correct form and allows for over 20 exercises. do the aerotrainer super crunch. the pre-stretch works your abs even harder, engaging the entire core. then it's the back extension, super rock, and lower back traction stretch to take the pressure off your spine and stretch muscles. planks are the ultimate total body exercise. build your upper body with pushups. work your lower body with the aerosquat. the aerotrainer is tested to support over 500 pounds. it inflates and deflates in less than 30 seconds using the electri

and sister company alibaba went public in 2014 listing on the new york stock exchange in a $25000000000.00 flight this time the company chose the domestic market in china for its debut but the mega float is on hold for now this latest investigation is part of the government's escalating scrutiny of jack expanding empire and represents heightened tensions between chinese president xi jinping and the billionaire in a state but the company says it will comply with the regular his requests it executives are expected to be summoned in coming days sarah clarke al-jazeera hong kong. the most high profile person jailed on the hong kong's controversial national security law is now out on bail she spent nearly 3 weeks in jail on charges that he colluded with foreign forces forces will continue to remain under house arrest. thailand's capital is notorious for traffic and pollution including on board to waste well now the government is looking to make one popular method of transport greener and quieter scott explains. fishing out his front door like he has for the last 40 years amarin it needs your mo

the writing has been on the wall since late october since jack ma who founded ant as part of alibaba criticized the chinese banking system publicly. he has been an rare outspoken chinese ceo nickname the people's billionaire in the past, but this time it's been different, and beijing has since moved to regulate ant and launch an antitrust investigation into alibaba. now we haven't heard from ma since and ant falling very much in line over the weekend in a statement the company says that it appreciates the guidance and help and calls the rectifycation an opportunity to strengthen its foundation. now that kind of language, the recent actions, the responses, they have raised concerns that beijing could be drifting towards a very hard line against not just jack ma and his companies but big tech and china at large, and we could just be at the beginning of a tougher regulatory landscape in china. now at the same time though kelly, we have seen in the past that beijing's bark can be bigger than its bite, so perhaps a key question going forward is whether regulators will actually follow thro

this is alibaba. down a .4%. the message from the central into your- get back own lane and stick to payments. ant group has wealth management, billione, a half a customers. not a gazillion. the fallout is all around the tech space. a gazillion. there you go. that is why people tune in to daybreak europe. arehe united kingdom, they running a coordinated vaccination campaign. months to vaccine enough people to have an impact on the spread of the disease that the european commission president says it will be a gradual process and caution is still needed. annmarie: this comes as the united kingdom is poised to approve the covid-19 vaccine reduced by astrazeneca and the university of oxford. the shot could be cleared for use early this week. it is more easily transferred and does not require refrigeration. martin malone is still with us from alphabook. what do you make of the vaccine story in europe? itspe is vaccinating citizens and the u.k. is out in front. does this bode for a quicker recovery for europe? would you

well look it's a huge blow to the alibaba group as you mentioned state media made this announcement on thursday by the news agency that the tech giant would be investigated over allegations of monopolistic practices are it shows the for the tensions between jack ma he's china 2nd richest man and also worth around has a net worth of around $50000000000.00 and of course president xi jinping and it comes after you mention the ad listing the shelves this was the jewel in the crown of the empire it was to be the largest i.p.o. on the stock market but as you mentioned it was shelved after its debut was meant to go ahead in november it was to have a jewel listing in shanghai and in hong kong jack ma decided to make the listing in the region as opposed to the united states due to what he described as geopolitical tensions are the regulators said this particular listing it didn't meet the disclosure requirements as a result they shelved it and that was after a recent interview that the regulators had with jack ma and his executives so it certainly shows that china is now looking to tighten its

alibaba is not in the index. you have tents and a lot of other stocks that are sort of getting maybe a little bit of the after effects of that effort, against ant financial and alibaba. >> that's true all right, mike, good summary there. let's move to the story moving the markets this morning president trump signing the government spending package into law last night averting a shut down, and delivering aid amid a worsening pandemic joining us is mick mulvaney, former white house chief of staff. mick, it's good to see you happy holidays hope you had a good christmas. so what was president trump trying to accomplish with the posturing of saying that he wasn't going to sign it, and he wanted $2,000. who was he aligning with it seems like the democrats are the ones that are going to vote on that today, and try to move it forward what was the rationale there, what was he thinking. >> good morning, happy new year, i think what he was trying to do was send a message that he wasn't happy with the bill this is not at all

centres but in response to this report, aliba ba has centres but in response to this report, alibaba has said that it will not allow its technology for identifying specific ethnic groups. they have also said that they have eliminated any ethnic tag on their product offering but this follows a similar allegation against another chinese tech giant huawei which apparently tested facial recognition softwa re tested facial recognition software which could not only identified but also send automated uyghurs alarms to government authorities. such systems a re government authorities. such systems are said to reflect the country's technological advancement and keep people safe but to protect this as a way to identify unfavourable members of society and squash public dissent. we all know the pandemic has seen us do more business online, from internet shopping to meetings via zoom. but according to the boss of paypal, it's accelerated the shift to a digital economy by three to five years. daniel schulman has told the bbc his own business, digital payments, is exploding, and the use of cash is f

they have fined alibaba and a unit of tencent over past acquisitions. there was an impending tencent-led merger. what is the immediate impact we see in this? steve: we are getting the initial stages of fallout from the draft rules we first heard about a couple months ago from beijing on the anti-monopoly laws. thebig giants, behemoths of internet world and chinese economy, alibaba and tencent, will have to pay fines. $76,000 u.s. dollars, that is not a big thing. but it is sending a strong signal beijing will not tolerate what they perceived to be anticompetitive behavior. look what happened in the chinese internet space. there was a land grab and the two biggest survivors, alibaba and tencent, have been gobbling up a number of companies on an acquisition spree. sometimes these two companies were co-investing in big names that have gone public. there was a land grab before the regulations caught up with them. in essence, in simple terms, it is easier to ask for forgiveness than permission. what is happening now, after all these acquisitions, they are st

and alibaba affiliate and group. this would be significant because we thought perhaps this could just be a slap on the ris to ma to set an example but this would be taking it further and suggesting that some of these business, at least parts of them, would have to be handed over to beijing, something in the past that jack ma has vowed not to do. >> it's a tightrope for them i talked a bit about it earlier on the program as well it's been a tightrope for mr. ma as well. he is by far the most influence and well-known business figure in the country, having sat down with him any number of times for interviews, even during the course of those interviews it's always interesting in terms of when the conversation returned to the communist party and to the government and regulators but he's been somewhat outspoken at least for a chinese businessman back in 2015, he had some criticism, the meeting that he had. i talked about this yesterday with donald trump, when trump was taking office four years ago. got the attention of the

>> alibaba is also under fire. alibaba is being -- is facing a crackdown investigation from the antimonopoly watchdog. the company right now is saying they are trying to stay compliant with regulations as well. reported the regulators actually went on site to the company's headquarters last week to finish their complete investigation. tot people are just waiting see the size and scope of these crackdowns. for alibaba i guess it is a good time for them to prop up their shares or support shares. the company market valuation has tanked more than 200 billion since november. thank you for joining us. talking tolu chen us about one of the biggest stories globally. regulation, sos does the world of crypto investing. many strategists and investors could see scrutiny and tighter regulation with biden in the white house. and janet yellen at the treasury. that is after the record-breaking rally for bitcoin. the cryptocurrency reached $28,000 for the first time before paring back slightly. we are joined by the global chief eco

and the alibaba founder has gone strangely silent. ma?sk, where is jack the global stock rally looking tentative, muted gains in asia on the back of the new variant of the virus in the u.k. , and trump also suggesting he may not sign the relief bill unless it is amended. ms asia index up after falling for the past three days. china, big tech under pressure, chinese regulators are calling in alibaba, tencent amid an emerging e-commerce buying model. asia up .5%. rishaad: looking at the open in bangkok, stock exchange in thailand moving to the downside, down .3%. the start of the indian trading day. we have a thailand rate decision come expecting to leave the benchmark interest rate unchanged at .5%. down ony come up 4% down .4% onhe nfty, futures trading in singapore. virus outbreaks in the u.k. not helping rate high-frequency gauges meet the so-called animal spirits gauge we have is unchanged at five. let's look at the u.s., president trump singling he might not sign the latest leaf package into law, just one day after congress passed it.

and sister company alibaba went public in 2014 listing on the new york stock exchange in a $25000000000.00 flight this time the company chose the domestic market in china for its debut but the mega float is on hold for now this latest investigation is part of the government's escalating scrutiny of jack's expanding empire and represents heightened tensions between chinese president xi jinping and the billionaire in a statement the company says it will comply with the regulators requests it executives are expected to be summoned in coming days sarah clarke al-jazeera hong kong the most high profile person jailed on the hong kong's controversial national security law is now out on bail jimmy lay's spent nearly 3 weeks in jail on charges that he colluded with foreign forces they will continue to remain under house arrest several pro-democracy activists have faced similar charges under the security law critics say beijing and posted on hong kong to silence dissent. thailand's capital is not tory's for traffic and pollution including on its waterways now the government is looking to make one po

well it's a huge blow to the alibaba group as you mentioned state media made this announcement on thursday via the shin wa news agency that the tech giant would be investigated over allegations of monopolistic practices that shows the for the tensions between jack ma he's china 2nd richest man and also worth around has a net worth of around $50000000000.00 and of course president xi jinping it comes after you mention the ad listing the shelves this was the jewel in the crown of the empire it was to be the largest i.p.o. on the stock market but as you mentioned it was shelved after its debut was meant to go ahead in november it was to have a jewel listing in shanghai and in hong kong jack ma decided to make the listing in the region as opposed to the united states due to what he described as geopolitical tensions on the regulated said this particular listing it didn't meet the disclosure requirements as a result by shoulder that was after a recent interview that the regulators had with jack ma and his executives so it certainly shows that china is now looking to tighten its controls over th

crackdown china's puts alibaba in its crosshairs. this is bloomberg. ♪ kevin: this is "balance of power " on bloomberg television and radio. i'm kevin cirilli in washington, d.c. taylor: and i'm taylor riggs in new york. it is all fun and games until you do something to really take off the chinese government -- really tick off the chinese government. jack ma is learning that lesson now. we know of him because of his involvement in alibaba, and of course ant group, which had to scrap their idea -- their ipo. there are fears of a tech crackdown, antitrust regulation, a breakup that is really pulling down all of the big tech companies in china. you have alibaba, tencent, jd.com. antitrust is not summing you want to mess with in china. let's bring in bloomberg's sonali bostick, who has been following -- sonali basak, who's been following this story for us. give us an idea of how worried some of these companies and investors are about a big tech crackdown. sonali: first of all, this is a big deal for investment in big chinese technology

well look it's a huge blow to the alibaba group as you mentioned state media made this announcement on the shin wired news agency that the tech giant would be investigated over allegations of monopolistic practices are it shows the for the tensions between jack ma he's china 2nd richest man and also worth around has a net worth of around $50000000000.00 of course president xi jinping and it comes after you mention the ad listing the shelves this was the jewel in the crown of the empire it was to be the largest i.p.o. on the stock market time but as you mentioned it was shelved after it was meant to go ahead in november it was to have a jewel listing in shanghai and in hong kong jack ma decided to make the listing in the region as opposed to the united states due to what he described as geopolitical tensions on the regulated said this particular listing it didn't meet the disclosure requirements as a result but shoulder that was after a recent interview that the regulators had with jack ma and his executives such ships really shows that china is now looking to tighten its controls over

and sister company alibaba went public in 2014 listing on the new york stock exchange in a $25000000000.00 flight this time the company chose the domestic market in china for its debut but the mega float is on hold for now this latest investigation is part of the government's escalating scrutiny of jack's expanding empire and represents heightened tensions between chinese president xi jinping and the billionaire in a state but the company says it will comply with the regular his requests its executives are expected to be summoned in coming days sarah clarke al-jazeera hong kong. iraq's government recently devalued the local currency the iraqi dinar by more than 20 percent is the biggest currency devaluation against the dollar since the 2003 fall of saddam hussein traffic has this report from baghdad. for more than a year theory abraham has been coming to protest in central baghdad to demand better services political reform and an end to what he says has been decades of government corruption and mismanagement. but he's here today because like many iraqis he is shocked and angry about the go

sister company alibaba went public in 2014 listing on the new york stock exchange in a $25000000000.00 flight this time the company chose the domestic market in china for its debut but the mega float is on hold for now this latest investigation is part of the government's escalating scrutiny of jack expanding empire and represents heightened tensions between chinese president xi jinping and the billionaire in the state but the company says it will comply with the regulators requests its executives are expected to be summoned in coming days sarah clarke al-jazeera hong kong. still to come on al-jazeera a man convicted of the murder of wall street journal's daniel pearl is set free by pakistani courts. and south korea orders its toughest sever measures to contain covert 19 force in the closure of tourist sites across the country. the wind is changing again. for japan it's not coming out of the cold interior so it's snow showers again maybe half a meter at worst but typically a bit less than that is widespread away on the western slopes of honshu and hawkeye to and if it carries on beyond

the founder of alibaba is connected to the chinese communist party who in china who has money is not connected to the chinese communist party you have to be that's just that's just part of the deal it doesn't necessarily mean that you're advocating for the party nor does it mean that we are naive and say the chinese communist party probably wants good things for america i'm sure it doesn't really chinese communist party at its core once chinese excellence and china to be the world's greatest most vibrant and but i did that wouldn't you absolutely oh absolutely that's what the u.s. what its what the u.s. demands all the time american excellence american exceptionalism every country should one threat the idea that if a country is there for bad if it's not the united states with it once those things it's the same claim that's made about russia if putin is a nationalist then he's an extremist really but in this country if you're not a nationalist you're considered a traitor how do you know so right exactly it's just it's how you perceive it and the idea that we're writing laws dealing wi

the founder of alibaba is connected to the chinese communist party who in china who has money is not connected to the chinese communist party you have to be that's just that's just part of the deal it doesn't necessarily mean that you're advocating for the party nor does it mean that we are naive and say the chinese communist party probably wants good things for america i'm sure it doesn't really chinese communist party at its core once chinese excellence and china to be the world's greatest most vibrant and but i did that wouldn't you absolutely oh absolutely that's what the u.s. what its what the u.s. demands all the time american excellence american exceptionalism every country should one threat the idea that if a country is therefore bad if it's not the united states with it once those things it's the same claim that's made about russia if putin is a nationalist then he's an extremist really but in this country if you're not a nationalist you're considered a traitor how do you know so right exactly it's just it's how you perceive it and the idea that we're writing laws dealing wi

the founder of alibaba is connected to the chinese communist party who in china who has money is not connected to the chinese communist party you have to be that's just that's just part of the deal it doesn't necessarily mean that you're advocating for the party nor does it mean that we are naive and say the chinese communist party probably wants good things for america i'm sure it doesn't really chinese communist party at its core once chinese excellence and china to be the world's greatest most vibrant and but i did that wouldn't you absolutely oh absolutely that's what the u.s. what its what the u.s. demands all the time american excellence american exceptionalism every country should one threat the idea that if a country is therefore bad if it's not the united states with it once those things it's the same claim that's made about russia if putin is a nationalist then he's an extremist really but in this country if you're not a nationalist you're considered a traitor how do you know. exactly it's just it's how you perceive it and the idea that we're writing laws dealing with the u

tech giant alibaba group reported its singles day sales totalled about $74 billion. the regulator said the e-commerce retailers raised prices before the sale to make their discounts look larger and also made false advertisements. it fined the companies, which include alibaba and jd.com, about $77,000 each for irregular pricing. china has increased regulation of internet giants in recent weeks. in november, the government announced a plan to tighten control of deals made by firms that exploit their monopolistic positions. >>> china and the european union have reached an agreement on a business investment deal that took seven years to negotiate. leaders of china and the eu held a video conference on wednesday and agreed on a pact aimed at boosting investment between the two sides. a focal point of the discussions was the protection of workers in china. the eu says people in the uighur autonomous region are being used for forced labor and urgeshina to improve the situation. another sticking point was china's practice of forcing european businesses to transfer their tech