coming up, netflix may be teaming up with jack ma. we look at the company will the plan to expand in china. plus, google's self driving cars are about to hit the streets. and one of the highest profile vc firms run by women is getting ready to raise its funds. first to our top story -- carl icahn making waves in a silicon valley again, investing in uber's archrival, lyft. the billionaire investor added $100 million, and one of the investor's employees will do join the board. uber is valued at a little over $2.5 billion. then there is the reach, 250 cities worldwide. for more on what this investment means come i want to bring in leslie picker, eric newcomer is here as well as our editor at large, cory johnson. corey graham i want to start with you because this is a different kind of investment for carl icahn. why is carl icahn first of all investing in a private tech company, and why lyft over her? cory: let's think of all the reasons, one, he is wanted to make money. carl icahn has been a moneymaker but a company builder not by any st

it is backed by jack ma. the internet television network aims to be nearly global by the end of 2016. guy: bloomberg sat down with the ceo of product. he told us how important artistic duty is to the italians. >> art is part of our daily life. in italy, we are born and go to school. the school is close to a square, a church built in the 14th century. from the first day of life, we are used to artistic beauty. francine: i wish that were completely true. i think in a romanticized world that is true. for the rest of us, maybe. maybe not. that brings us to our twitter question. from fashion to politics and art, we want to know who you think is the most stylish politician. is that counterproductive? in some cultures it may not be a good thing. we will discuss that next. we will discuss the avon bid that never was. there was a fake $8.2 billion offer. we will be back after the break. ♪ francine: welcome to "the pulse." a buyout offer for avon set the share price surging on thursday he for it was discovered to be

for more on what jack ma will be teaching the athletes, my guess join me. obviously basketball fans. jack ma seems very excited since he likes basketball. why the ncaa and the pac-12? guest: first of all, it is the pac-12. let me praise the commissioner for being a visionary. the chinese consumers, especially young consumers want exciting new content. our strategy is to bring the best in the world to china and bring the best of china to the world. the best basketball there is the pac-12, and we get to showcase china to a bunch of student athletes who will be entering the global economy very soon. emily: why is it important for you to partner with alibaba? guest: it's an exciting strategic partnership for us. we have multicultural, diverse student bodies and faculty from all over the world. research partnerships all over the world and china is an incredibly important market. we look at athletics as the front porch to the university. it's a great way to tell the story about our universities and create transformative experiences for student athletes who are go

wasu is also partially owned by jack ma. netflix's chief content officer said "china is too big to have an asterisk next to it. he says if that is the cost of doing business in china, we will figure that out. joining us now is the executive vice president of screen media and our bloomberg news at her -- bloomberg news reporter leslie picker. what do you know about these and how this deal might work? leslie: we know wasu is one of seven companies who has the ability to stream internet tv in -- ability to distribute internet tv in china. this is a company where jack ma took a 20% stake last year in order to get more into the media business. this is a company that said they want to get more into data, big data, media services. this would fit very well into their strategy. emily: david, i want to ask you because you actually make content deals and sell content abroad, just how difficult is it going to be for netflix to break into the chinese market? there are so many different challenges. david: it is a difficult market to crack

for more on what jack ma will be teaching the athletes, my guess t is jim wilkinson. obviously basketball fans. jack ma seems very excited since he likes basketball. jim, why the ncaa and the pac-12? jim: first of all, it is the pac-12. let me praise the commissioner for being a visionary. on the half of the student athletes in the united states. the chinese consumers, especially young consumers want exciting new content. our strategy is to bring the best in the world to china and bring the best of china to the world. the best basketball there is the pac-12, and we get to showcase china to a bunch of student athletes who will be entering the global economy very soon. emily: why is it important for you to partner with alibaba? larry: on a lot of levels it's an exciting strategic harder ship for us. our universities are truly global brands. we have multicultural, diverse student bodies and faculty from all over the world. research partnerships all over the world and china is an incredibly important market. our schools have been doing things for a long time overseas. we

who better to do that with then jack ma? jonathan: is that the point? is the point that netflix doesn't go in alone and teams up with a local partner to circumvent some of the challenges? manus: absolutely. they don't just want to be on tv. they want to be multi platform on mobile, online, etc. they don't want to go without a partner. the chinese government has stripped controls over licensing of online content. trying to overcome those issues in terms of navigating that market, why not have a partner to take away the burden of the workload? jonathan: manus cranny, i'm going to let you go. get back home. manus: no, i'm not gone yet. i have a lot more to do. jonathan: what have you got to do? manus: i have to do the week ahead. everybody is going to know what is big at bloomberg next week. jonathan: i look forward to the pdf arriving in my e-mail. thank you very much, manus cranny. let's go from films to beer. that works for our next guest. brewing giant sab miller acquiring craft brewer meantime. matt joins us now. we talk about sab miller needing to go

we will look at what is in it for jack ma. betty: and john kerry will meet flood of your purchase -- will be vladimir putin for the first time in two years. president obama is honoring entrepreneurs at the white house . they have been working to help startups in the u.s. but tackling some of the world toughest challenges including poverty, climate change and extremism. talked withchang one of the entrepreneurs who met with the president of error -- the president of airbnb. we were invited here to be part of this entrepreneurship program and i'm incredibly excited. started as an unemployed designer six or seven years ago, and now i may hopefully very successful entrepreneur. as a role model, my story is a story other people can have around the world. : you guys moved into cuba almost more quickly than any other u.s. business. give us an idea of how supplies meeting demand and will you be a to cuban hosts soon? 40 days ago, we launched in cuba with 1000 homes. today, we have 2000 homes. if youre cuban hosts, so want to travel to

jack ma shared his stance. >> it is regrettable that the company sued us. there will be no future commerce if we cannot protect copyright. >> alibaba has been criticized for not doing enough to stop counterfeits. taobao and tmall are similar to ebay and amazon. a search for gucci shows products of our likely knockoffs. the site says products that they are a likeness might not infringe on intellectual property rights. the group says it has 2000 employees dedicated to anti-counterfeiting and consumer protection and has spent 130 million euros to that end. the site' has a massive user base. since 2012, the proportion of counterfeits on alibaba has decreased but the overall amount has risen 2/3 to 130 million last year. stephen: the currency markets, the value of the euro tumbled against the dollar after a board member of the european central bank said it would step up stimulus spending in may and june. the ecb is buying 60 million euros. benoit coure said they would be spending more in may and june. it has driven down the euro one euro trading for just over $1

i heard all kinds of people who want me to meet jack ma. that jack ma wants to meet me. i heard over the years, we had all kinds of messages. i never actually heard from alibaba. david: her you go. we're not only coast to coast but but we're worldwide. you would like a meeting with jack ma, right? >> jack, call collect. david: you can accept the call. all right. so, i'm just curious, they would be then potential partner. you would be able to perhaps deal with them. could you be supplier. you would have the warehouses in china which you're already beginning to explore right now. they could be the middleman between the buyer and the seller? >> that's correct. we're a step farther. we've been exploring for a year. we've been building this winter a warehouse. there is a warehouse we've been taking over, rents, building out our systems. i think it goes live next week or some we'll start having goods, sometime this month, there will be goods for sale in china from a warehouse of ours in china. and it will be actually being sold, taobao, refresh my mind, does alibaba own them?

mark: netflix online china plate, seeking a partnership with a business backed by jack ma. anna: the $14 billion luxury brand product moves in to the contemporary art world. we speak exclusively to the ceo. manus: a record rally after nine weeks of gains. they are just turning a little bit lower this morning and supply from opec and american shale set to increase. mark: cutting gain since they reduced an interest rate in half. let's go over to hong kong. shery ahn has all of the stories today. good morning. what you have for us? >> we are seeing chinese stocks at the lowest level in one week and now. almost half of their gain since the cut. shanghai composite down 1.2%. utility and energy stocks leading the decline. their investors are increasingly concerned about a possible the quiddity tie up in china. we have several ipos here this month. of course concerns over economic growth also growing in china. investors are kind of waiting to get housing price data for april due out on monday. managing to hold onto profits up 0.5% but the hand saying -- hanseng shows it is now hea

jack ma did speak at event talking about his family history and female teachers in his life. take a listen. >> when i was a primary school student i had a such terrible experience because my grandfather was not considered a good guy before liberation and after liberation my family was terrible. people looked down on us. my teacher said jack, you're good, you're better than people thought. be yourself. forget about your family you know history and this. be good. so they give me the confidence. >> to be sure, alibaba has a fairly good track record with female employees, compared to others, 40% of its workers are women. and about a third of its 30 executive partners. and when the company went public here at nyse, five of its eight bell-ringers were women. carl, it shouldn't be news that shouldn't be a dramatic statistics. but with the spotlight on tech companies and female hiring, it is. >> yes, i'm, it occurs to me that ma himself is a former teacher and probably comes with a certain sensibility that makes him a little more open-minded than others in that country at least. mayb

they are looking to jack ma to help them navigate the licensing rules. this is according to people familiar with the matter. they also came up with a report predicting netflix will be the company --illion $100 billion company. thank you for joining me. let me start with you. this prediction of $100 billion, is this far-flung? a i do not think it is far-flung idea. -- ave a $900 million price that would value the net $60 billion. growth, because people love it in the u.s. and internationally. verycan entertainment is exportable, and they are right at the nexus of that. say a not only do they $100 billion company, they also will be a $2000 stock. martin was just talking about the international potential. you have this news today that they are in talks with chinese partners. to ignore theord chinese market for netflix. they are the largest global market. they have 190 million broadband households. it is impossible for netflix to ignore, and they have realized they have to do it with all of the regulation and all the strict and trolls of the chinese market.

i think what's most interesting, kelly, is this positioning of jack ma as gate-keeper. we're seeing these u.s. companies get on jack ma's team because he has what we would perceive as a fairly good relationship in china. given the business that he's built. and seeking council from someone who might have some pretty good advice there. he seems to be tapped by a lot of companies as the way in. >> netflix shares currently trading about $616. that's good enough for a $37 billion market cap. a big news morning for them. let's look at one of uber's rivals. this is the other major news of the morning. getting a big investment, lyft, it's carl icahn, the ride-sharing service, raising $150 million in funding led by a $100 million investment by enterprises. i believe they're well suited to take advantage of this opportunity and to make lyft an extremely successful company. >> this is so fascinating, kara. what is the reputation and the perception of lyft in the venture capital community? why do you think carl icahn makes them so attractive and is making such generous statements a

emily: jack ma says he wants 50% of revenue to come from outside of china. currently that is more like 9%. what is your target for that number this year? >> improvisation is one of our core strategies in the future. we start with our cross-border strategies and we sell to chinese consumers. on the other hand, through our express retail platform, we help chinese suppliers sell to the overseas customers all over the world. at the end of the day, we want to create a global buy and sell platform to serve all merchants and consumers around the world. emily: so if it is 9% now coming from international, what do you want the never to be? >> the business from international will continue to grow. now is just the starting point. emily: what kind of countries can we expect to see alibaba popping up, where can we expect to see a greater presence from alibaba abroad specifically? >> today with our retail platform, alibaba express, we sell a lot of goods to developing countries like brazil, russia. in those countries, consumer products are very expensive. we are helping c

it is speaking with the company backed by jack ma. expected to almost triple to $14.5 billion by 2018, but, to take advantage of that growth, it is almost essential to have a local partnership to control licensing for online content. mark: bloomberg's rosalind chin in hong kong. now let's go to the top stories crossing the terminal in this hour, president obama's asian trade talk is back on the fast track. that would give the president authority to speed up trade deals. democrats backed off what republicans agreed to vote on other bills designed to protect american workers. factory outlook installed last month. the fifth -- before the fifth straight month, total industrial production declined and many manufacturers have been hurt by the strong dollar. to the wants to appeal social media crowd, so the local restaurant chain has redesigned their dishes to look better on social media. this is because diners like to take pictures of their meals and post these pictures on facebook. chili's says it pays attention to what is happening on soc

chairman jack ma just announced a hiring freeze. they are saying they are not doing enough to drak crack down fraud on the site. i spoke with the new c.e.o. who went from c.f.o. to c.o.o. and now c.e.o. i asked him what he plans to do differently. >> we changed the leadership in our fields. we believe that today is the right time for us to bring the young generation to the leadership. as you know, alibaba -- this is a long journey. we need long generation to participate in the leadership and lead the company to the next part of journey. emily: how will you bring more talent into the leadership and management roles? >> today if you look at our key business units and all the leaders, out of 1970's. we're also trying to bring more and more 1980's, 198 5,1990 young generations to the middle class level final throy the leadership level. we believe this will be the foundation for our future growth. emily: jack ma said hepts 50% of revenue to come from outside of china. currently that number is more like 9%. what is your target for that nu

jack ma has said taiwan is an important market and followed laws when they enter the market. dong, it is a hoax:. call for a got a multibillion-dollar takeover in shares. millions ofrned dollars of avon stock in 25 minutes. it turned out to be too good to be true. the offer, three times what avon was trading the day before, $8.2 billion, the largest levered -- leveraged buyout. the announcement was filled with typos. calls to the company went straight to voicemail. the address on the filing was a london one. stock markets quickly gave way to a lot of questions. how could this happen? stocks still close up 6%. the search for a buyer goes on for avon, posting three straight years of declining sales. someone walked away with a big pot of cash. we will send it back to you. rishaad: india and china celebrating warmer relations. they say their combined prospects are good. he will head there later to get reaction. we are talking with the chief iag.tive of ♪ rishaad: the chinese economy may that has notut stopped intercontinental from launching a new brand. is aimed atain increasin

emily: jack ma says he wants 50% of the revenue to come from outside. it is currently like 9%. what is your target for that number this year? >> globalization is one of our core strategies in the future. we start with our -- and we help deliver supplies to chinese consumers. on the other hand, through our ali baba express retail, we help sell chinese supplies to overseas customers all over the world. at the end of the day we want to build a global network, a global platform to solve -- serve consumers around the world. emily: would you want that number to be? >> the business from international localization will continue to grow. now is just a starting point. emily: what can be tricky see alibaba popping up in? where we see a greater presence from ali baba abroad more specifically? >> today, with our retail express we sell a lot of products to the developing countries like brazil russia and in those countries to consumer product is very expensive. were trying to help capitalize a platform for those countries. there will be more countries in the future here. we will participate i

coming up, netflix may be teaming up with jack ma. we look at the company will the plan to expand in china. plus, google's self driving cars are about to hit the streets. and one of the highest profile vc firms run by women is getting ready to raise its funds. first, to our top story -- carl ah

olivia: i assume jack ma is going to get on a phone call the shareholders. what is the number one thing you want to hear him say? leslie: i want to hear what their plan for diversification outside of china is. it would be interesting to know how they plan to do that and where their priorities lie in terms of geographies. brendan: leslie picker, thank you. we have the great force and -- t orsan from deutsche bank. the alibabas are a bet on the chinese consumer which brings us to a broader question -- how china is negotiating this transition from industrialized economy where migrant workers are moving into city from rural to a place where people send money. how do you see china weathering this transition? >> this is an important anecdotal piece of evidence about how the consumer is doing in china. the consumer is what is needed for the chinese economy. we had an export led economy for all these years. now we see it moving towards the consumer. changing the growth model is an important step. brendan: we have seen this usually in fixed income over the last two d

coming up, netflix may be teaming up with jack ma. we look at the company will the plan to expand in china. self google's driving cars are about to hit the streets. and one of the highest profile vc firms run by women is getting ready to raise its funds. first, to our top y

ma. and american securities and exchange commission is investigating how a false takeover was posted on a website. avon's shares jumped 20%. finally, friday march a big birthday for fast food giant. the first ever mcdonald's opened its doors 75 years ago, though not in a form we might recognize today. on may 15, 1940 brothers dig and maurice -- dick and maurice donald opened -- maurice mcdonald opened the restaurant. the original mcdonald's is now a museum dedicated to the franchise with 36,000 restaurants all over the world. that is quite an achievement. molly: kate, thank you for watch -- for walking us through the days business news. it is time to take a look now at what is grabbing headlines in weekly magazines. i am joined in the studio by florence. we are going to start off with "time" magazine, a special report in an ongoing situation in nepal. florence: you can see a father and son being evacuated from a village in the himalayas with the aftershocks, as nepal reels from another ea

there are reports the company is in early talks with jack ma and best new media market. >> there are 200 million broadban china and 100 million in the u.s. and so there is say middle class that can subscribe to netflix so there could be tremendous opportunity there over time if they split with a local partner. >> but netflix wrote to shareholders in january that in china, it is exploring options all the modest. and we'll learn if we can operate in china centrals on globally licensed content. in addition to regulatory challenges including restrictions on foreign online content, there is the issue of china sensoring what it considers objectionable consent and high level of piracy. up to 60 million subscribers some may wonder if the stock may have gone too far too fast but crockett projects the company will triple subscribers by 2020. >> each million subscribers drop0 million to th bot line and i think you will go vertical in earnings and you want to own that. it is at the forefront in home entertainment. people want online home content and they are changing to that. >> house of cards i

i had met jack ma, the founder of alibaba in 1997 in hong kong, where i was based. i go to alibaba, where do i buy wholesale parts? i need to buy electric motors. i just sort of pick from the menu. 10 days later, a crate shows up on my doorstep. there are 5000 motors all made to my custom spec. i was stunned. i got chills that i had gotten robots in china to work for me. and they took paypal. emily: how did you go from journalist/drone enthusiast to drone company ceo? chris: after i started the community and it takes off, people started talking about doing things together. designing drones. the software, the hardware, etc. initially, i started putting parts into cardboard pizza boxes with my children. that was the manufacturing line. that did not work well. it was clear it had to be like a real company. making real stuff, was someone doing it full-time. i invited the smartest guy on the site and said, you want to start a company with me? and he said sure. first, it was like him in his garage. then it was him and a bigger garage and then him with other people. initia

this seems to be what jack ma likes to do. jack ma is chairman. i've got joe tsai as executive vice chairman and jonathan lu. this guy running the business. >> as jack says in his letter i believe within five years by 2019 alibaba will become the first company in the world to facilitate gmv over $1 trillion. five-year plans are all the rage in china. >> a thousand orders. boom. this is a remarkable company. >> $80 coming in this morning. i'm getting a lot of different messages about turning the market around. those who follow this particular part of commerce are heartened. this social segment taking it on the chin no longer. i don't know whether fed chief yellen will be happy with this. >> it's unclear. shares of yahoo will be up. >> yes. >> what is that word when you back out, the new alibaba? minus. >> minus something. minus something. looks like negative interest rates. >> if you own yahoo, you get your statement and it says you're down you have 1,000 shares you're down $2,000? minus $ 2,000. she may get a break there. >>> we've got more to get

. , the internetts security department and alibaba's jack ma. wednesday, insight into samsung's strategic vision. corporate governance concerns continue to plague the conglomerate as the lee family pushes for more control. we may hear about takeover plans for the world's biggest jeweler. thursday is when they are planned to released results at chow tai fook. let's bring in hayden brisco. thanks for joining us. what is top of mind for you this week as you look at this busy schedule? the market is not thinking about a rate cut. it is still around the currency that everyone is concerned. india, you just touched on that, they are thinking about a rate cut. it is getting tougher because most of their cpi has the risk of going up because of food inflation. that is weather-related and you cannot help it. angie: rba will be an interesting one. will we continue to get that guidance, perhaps that is still on the table? we are seeing in this commodity super cycle, trying to be controlled by the rba. guest: they have been very vocal about passing that to th

jack ma the baby boomer generation is so well represented. that was a surprise to me. thirds are over age 60 we are about to see one of the biggest transfers of wealth that the world has ever seen. dollars as these billionaires decide to sell their company or transfer some of it to their kids. we are expecting a huge philanthropic boom as well. scarlet: people like warren buffett have sworn that they will give away their money. i would imagine that universities will be looking for a big payday. peggy: absolutely. the banks themselves are angling to try to hold onto these family customers so that the young millennials don't go other places when they want advice. scarlet: the banks are angling for this business, which is why ubs would undertake this survey to begin with. what do you think they came out with in terms of actual ideas? peggy: they are keyed into the fact that a lot of millennial investors want to have some type of social cause connected to their investment. has been a rise of attention at the banks in terms of impact investing and

also at bloomberg.com right now, searching for the next jack ma. new wave of technology giants in china's startups in. scene. startup plus, in need of a vacation? companies that will help you pick up the tab. shares are falling after revenue missed estimates. most of the declines came from weak demand for the flagship gap brand. the company is attempting to reshuffle leadership and products. oill is allowed to resume exporting off of the alaska coast three years after a written ran aground. opposedental groups are saying that it will destroy the ecosystem but regulators have imposed tough restrictions. to run $6 billion on the project over the past decade. the exports took a tumble, falling 22%. from the state backed association of automobile manufacturers show exports fell in the first months of the year, jeopardizing the export target of 860,000 units. political instability in key markets and policy changes are given as reasons for the slump. coming up next, as wall street ends a two-day rally, we take a look at the biggest threats to the u.s. ma

jack ma once the company to get 50% of its sales outside china. air force is across europe are grounding in military transport after a fatal crash. the airbus a 400 m crashed minutes into a test flight. the german magazine says one of the survivors told investigators the plane had multiple engine failures shortly after takeoff. dzhokhar tsarnaev is expected to learn his fate this week. the defense ended its case this morning in the penalty phase of the trial. a jury must decide whether the boston marathon bomber is jailed for life or executed. the jury will get the case after rebuttals and closing arguments. bernie made off has died after spending years -- i key aide -- off'saide of bernie made has died. he was waiting to be sentenced for his role. a wild boar finds itself south in an unfamiliar place. the boar fell through the roof of a children's clothing store and onto a display case. knocking over manikins and signs. wild boars are common in the .ild side but not i john kerry is preparing for a trip to russia to meet with the vladimir putin. t

we ask if he has identified the next jack ma. ♪ angie: a u.s. judge has accelerated the timetable for the a look release of hillary clinton's e-mails. ,he state department had waited or wanted to wait until january to release that 30,000 documents at once but the ruling means they will be moving sooner on a rolling basis. mrs. clinton had been criticized for using private e-mail accounts when she was secretary of state. she said she wanted the messages released as soon as possible. the u.s. government says there are no remaining impediments to normalizing relations with cuba vanabank is willing to handle business in washington dc. president obama and castro announced normalization's in november. an u.s. navy has revealed encounter in the south china sea between an american combat ship and a chinese military vessel. it happened earlier this month when the uss fort worth met the disputedhip near a island. codeso indicated by using meant for unintended encounters. a run of ipos making on her doors very wealthy. in 2014 there were have been 120 ipos

ma. pimm: we will hear what hank paulson has to say about the economic slowdown in china. olivia: president obama wants to invest in global entrepreneurship. he says that's a way to solve some of society's ills. we'll hear from a new member of his innovation counsel, brian chesky up next. olivia: pimm: an activist pimm: -- activists are announcing profits after the allergan deal. joining is now in an exquisite interview was activist president fromeo brent saunders person pinnie, new jersey. thanks for being with us. describe exactly why it is you raise the guidance. brent: as we brought these two exceptional companies together, we started to see strong momentum from both companies which was not a surprise. it allowed us to put out guidance that i think is better than consensus. pimm: can you explain the strategic reason for the acquisition of allergan? does it compensate for drugs coming up at and protection? was not thereally case. as you reported a bit, allergan was a company that was u

ma as well as potential other partners to get into the chinese market for online video. that would be, honestly, a big market for netflix. shares going to a record above $600 for the first time. the worst performer in the s&p 500 is green mountain. remember that system that was much heralded of the company announced it would be coming out with where you could make cold drinks like seltzers to compete with soda stream? it will be delayed to some degree. more than analysts had anticipated, it will not be fully rolled out until next year, 2016. investors are not too happy about that and they are sending the shares lower by 8%. much, julienks so hyman. i feel like they have been talking about that for a long time, the cold beverage system. it hasn't come to fruition. mark: it's -- scarlet: are you going to buy one for the holidays? mark: how did i know you are going to ask me that? no, i'm really not. i'm going to the store. let's look at the stories crossing the bloomberg terminal. speaking of sodas -- is dropping sodas from its children's not even though its owner is famou

not just to meet jack ma. they're going to do a class on e-commerce in china. they'll get a lot more exposure to that whole world. that's a big money making. >> here comes alibaba flexing the muscle. as you said quietly. just as verizon is buying up aol for $4 billion, sprint decided to announce its own partnership to expand its mobile network. this time with wi-fi company, you know them from the airports. right? boingo. they have that expansive airport footprint. pops up. boingo. looking to take advantage of the space. just how does boingo stand to benefit? joining me now in a fox business exclusive boingo chairman and ceo david. david, this is interesting. what does it get me? every time i get to an airport and your website pops up, i have to put my input in there. if i'm with sprint, does that eliminate all that effort to put in my visa card, et cetera? >> a partnership with sprint is a vision of where we think the industry is going. that is the convergence of krferl and wi-fi networks. once we've rolled this out across their 40 million smartphone customers

that's jack ma the founder. a lot of people make the distinction between the title of ceo in china and how it is maybe less strong than it is here in the u.s. what distinction would you make about that? >> i think that's a great point. i look at this a little bit differently. it is a little bit like vladimir putin putting in somebody different as the president in russia? who really cares because we all know who is still running the company. . i look at mr. zhang just ensuring the cost controls are in place as growth starts to deflate a bit in the upcoming quarter. >> is mobile as important for alibaba in china as it is for so many companies here in the united states as they rush to that area where so many u.s. consumers are? >> i would say it is more important. china is a mobile-first market. we came out with a new piece of intelligence that showed 98% of all high-end shoppers are on smartphone devicing and buying increasingly on their iphones and samsung devices. the challenge is it is a lot more challenging to

in his letter today, jack ma everyone emphasized he was happy with the current work, but he also said he's putting daniel zhang in charge for younger executives born in the 1970s and later. and that generation is, of course, using mobile devices more than anything else. alibaba did super well in this category, mobile made up 51% of all transactions on alibaba e-commerce platforms. revenue also beat the street, it was up 45% year-over-year. but much of alibaba's success, of course, depends on the health of the chinese economy. i asked the incoming ceo, daniel zhang, how the economy is doing from their standpoint. >> today china's economy experiencing a transformation from a investment-oriented economy to a consumption-driven economy. and from our platform we can observe very strong demand from consumers. and to date the chinese consumer not only likes the high quality products, domestically produced, but also like high quality products all over the world. so that's why we start our cross-border initiatives. we are trying to help the overseas supplier to fill our platform to chinese con

i'm note giving you any kind of timetable, but i do like the company, i like what jack ma has created. >> how a guy like you would be thinking about an investment like that, in a place like china, say, a fairly opaque market. there have been issues for investors to deal with as it relates to alibaba and other things. >> a guy like me doesn't have the brainpower to be able to cope with it i hardly have the brain power to figure out what to do with a nonmoving asset in the 212 area. when you get into technology and you get into a jurisdiction that has little transparency, a confused legal system, a very, very cultural system. and is somewhat opaque, it's just -- a place that investors like i should not go. >> you invest in technology stocks or things like that in general? >> sure. on a personal basis, i invest in technology stocks that are within my wheelhouse, since i trip into my house through the garage with amazon boxes, it looks like an amazon logistics center when i come home, it's interesting until i go to look at the p & l and say this company has been in existence for 20 years

which jack ma still occupies. even though the ceo is an important role, that's a distinction that u.s. executivings don't think of right away. i wonder what happens in september. a big lock-up happens, part of that is yahoo. they're note going to be sellers right away. but they will be spinning off the stake into stand-alone entity. does anything change for the company? they've said it doesn't. but does anything really change? >> i don't think anything changes in the way the company executes or the company performs. i think it will be a flooded market of more equity on what was already a very big offering. when they went public, one of the big fears was there were going to be so many sellers at the offering. but that will clear itself out and the company will be valued on how well it performs. at the end of the day, that's what it comes down to. think if you're going to trade it, it's a very worrisome time. >> are we in a period of digestion. we have alibaba saying they need to be efficient. kind of no net ads, we

jack ma has set a goal of getting 50% of the retail outside china. the u.s. economy is doing well, but not that well. the job total was not -- the unemployment rate fell to a seven-year low. on the other hand, that was not enough to scope specialist -- to stoke speculation that the fed will raise rates. analysts are betting on september at the earliest. the next couple of hours could be crucial for greece. bailout talks consider with -- continue with creditors. angela merkel finds herself in a somewhat upward situation. the latest act in the long-running debt drama. awkward. zeb: members of her own party telling her to let greece go. that is what she is getting in germany. you can see what kind of difficult position she is in. it does not help that these calls are coming as this deadline looms. and,payment is coming due in addition to the imf payment, this billion dollar payment, we have public worker pensions and other salaries to be paid. greece has big obligations here. we understand the imf is preparing for a possible greek default according to some press

peggy: a lot of it is jack ma shares of companies like alibaba that have not transferred to relatives or to charity. it certainly touches upon the fact that 100 billionaires around the world decided to give their money away with a giving pledge and that there is expected to be a lot more money circulating as a billionaires age. erik: thank you. stephanie: peggy collins. erik: time for top headlines. home prices in 20 large american cities rose faster than expected in the past year. the s&p housing index increased 5% in the year ending in march and economists say that reflects the market, san francisco and denver post and the biggest price gains, 2% each. in one case, u.s. military jets escorted a flight into the u.s. city. someone claimed a chemical weapon was on board. one of the threats are said to be credible. stephanie: goldman sachs bucking the trend on puerto rico bonds. it has a most quadrupled its stake in junk bonds in a little more than 12 months. at the start of the month, it held $1.3 billion worth. the yield is 10%, and most of the mutual fund holders have been cutting th

for example, a new ceo, who i assume you know but there's jonathan lu joe psai jack ma and this guy as ceo, who is really running the company? >> i think jack sets the vision and the alibaba's partners they've all been working together so closely for so many years, i think they sort of as a committee, they run it. my title changed al times in eight years. that's just his way of rotating people around to sort of fine-tune and adjust. >> one of the question that is u.s. investors have about this company is the relationship with the chinese government and how that's evolving current lyly how do you perceive the relationship. >> at times it's a tailwind. piece are surprised to find that but now they're kind of bumping into the government a bit. i think that's healthy. they're pushing the frontier and having that push-and-pull relationship. >> except aren't they very vulnerable in the structure they set up allows them to take the proceeds through all the trusts that are foreign and to the rest of the world doesn't that potentially undermine the ipo of the new york stock exchange? that's the

jack supo qué hacer. llevarse con él al cowboy. y así nació la buttery jack. nuestras hamburguesas más jugosas, mantequillosas y antojosas. las nuevas buttery jack de jack in the box. buenas tardes, hoy a las seis...el drama de la niÑa alondra Íaz secuestrada hace aÑos por su padre, esta a punto de terminar. tenemos las declaraciones de la menor en exclusiva a horas de reunirse con su madre.y hoy a las 6, tambien le diremos que ciudades del este de la Áhia se quedaron sin estaciones de bomberos y cÁnto tendÁn que esperar en caso de una emergencia.. y le contamos a que se debe que los latinos y los afroamericanos sean los que mas detien la policia en san jose seguimos con >> seguimos con nuestra ruta de impacto en el gran estado de texas. bienvenido a san antonio. >> gracias, una de mis ciudades favoritas, san antonio! [aplausos] >> quÉ lindo recibimiento. gracias por esta primera ruta de impacto en texas. la estamos pasando de maravila, eh. >> me imagino que sÍ. cuÉntame quÉ has visto. >> me puse la mochila para recorrer varias ciudades de texas y m

jack supo qué hacer. llevarse con él al cowboy. y así nació la buttery jack. nuestras hamburguesas más jugosas, mantequillosas y antojosas. las nuevas buttery jack de jack in the box. buenas tardes, hoy a las seis...-- esta manana se registro un aparatoso accidente que cobro la vida de un menor de edad que fue atropellado por un tren del muni... las autoridades investigan el incidente. anuncian duras sanciones monetarias....para personas que gasten y desperdicien agua. --otro potente sismo en nepal deja una estela de muerte y destruccion, tenemos las imagenes de esta nueva replica... estas son imagenes d un >> esas son imÁgenes de un obligado destino turÍstico. sirve de refugio a muchos murciÉlagos que salen cuando cae la tarde. >> es una atracciÓn formidable. >> estÁ con nosotros tony. con una a sorpresa de impacto. sobre una televidente, tony. >> la mÁs fiel. esta historia comenzÓ en el hotel que me estaba hospedando en el paso. me dice: mi abuela es fanÁtica de primer impacto y de tonytambiÉn. la llamÉ por telÉefono y le digo a la nieta si maÑa

according to bloomberg sources netflix has been speaking with western media backed by jack ma. the online t.v. market in china is inspected to triple to $14.5 billion by 2018. to take advantage of that growth, it is essential to have a local partnership due to the strict controls over licensing for online content. stephanie: a netflix spokeswoman says the company plans to be nearly global by the end of next year. in horseracing the field is set for the second leg of the triple crown. the preakness stakes in baltimore. the kentucky derby winner is a favorite in tomorrow's race. he will face seven other horses, including the second and third place finishers from the derby. no horse has won the triple crown since 1978. i know who needs to win this weekend, erik schatzker. baltimore needs some good news. those are your top headlines of the hour. stephanie: pimco -- erik: pimco is getting out of the stockpicking business. the company announced it will close three active stock mutual funds and focus on enhanced indexing strategies. pimco also announced its chief investment officer wi