softbank group firms include sprint andnd yahoo japan. the 58-year-olold chairmrman explained the move. >>>> translator:r: i had hoped and over the b baton o on my 60 birthday, but i now feel that i want to continue the job for a little bit longer. >> and that decision has stirred mixed reaction. softbank group's shareholders attended the meeting held in tokyo. >> translator: i trust son. i don't think he is making any mistakes in his decision. >> translator: it's a big shock for me that the company's number two quit his post. >> the company also announced that it is selling its stake in finnish game developer supercell to chinese i.t. company tencent. softbank will receive about $7.3 bilillion in exchange for majority ownership of the developer of clash of clans. >>> checking the markets. investors played it safe ahead of the looming british referendum on whether to leave the eu. tokyo share prices edged lower after their resent rally. for the details,i giangng nguye reports. >> the nikkei closed lower as investors sold showers to boost

softbank is selling at least $7.9 billion of its shares in alibaba. the sale will strengthen their balance sheet as it reduces the stake from 32% to 28%. for more, we are joined by reed stevenson from tokyo. our guest host david kirkpatrick is still with us. what is your reaction to the sale? i know most of a was anticipated but what can you tell us? reed: one thing to remember is back in february, softbank gave us a signal that this might happen. they announced a $5 billion in shares buyback to purchase up to 14% percent of their own shares. that gave the socket nice boost and the question was how are they going to pay for it. i think we have part of the answer today. emily: does it signify any change in the relationship between softbank and alibaba? reed: the stake takes the ownership to 28% from 32%, so there's not a huge change their. -- there. the two ceos sit on each other's boards. i don't think it's going to change. they like each other. the companies are complementary. i don't think you should read too much into this apart from softbank needi

techhts on softbank's investment, does this mean him stepping away means that softbank tanks is vital for pedal when it comes to tech investment in what is a do for their current investment. he says he will support them all the way. thoughts on the president changing his mind midway. he says reflection and a change of mind comes as it is his prerogative. softbank is linked to his identity. rishaad: thank you so much for that. ok, let's check in on some other stories we are following for you. mcdonald's has received several bids for outlets in china, looking for long-term strategic workers in china and said the deal could be worth up to $3 billion. reuters said offers have come from different groups. beleaguered indian tycoon stepping down from another prominent business role, quit as chairman after 12 years in that position. in march, he announced he was resigning as chairman and gave up the chair of united spirits in february after the new owner of salt him of all liabilities linked to financial lapses of the company. anniversary of hong kong's return to china, the relationship has n

softbank will strengthen its balance sheet. it had been holding about ¥8.5 trillion in long-term debt. $77 billion.f they are increasing this liquidity cushion for the company now. rishaad: how does this change the dynamics with this that softbank has with alibaba? they have been the largest shareholder, a 32% stake. it has been lowered now to 28%. so, they are still among the biggest investors in alabama. the chairman and ceo of soft maintains the relationship. jack ma remains a director of softbank, but also talking about this by back, saying this will be one of the best uses of its capital to reinvest in its own business. notaba shares tanking, tanking, but falling about 10%. rishaad: there we go. alibaba group had its trials and tribulations after january and february. i am yvonne man. yvonne: it has recovered a bit there. rishaad: boc aviation, pricing taking place. $42, 43.10 in the market. the debut occurs in just a few minutes. we will be live for that as well. this is "trending business". second biggest ipo and asia t

softbank group says its president and coo will step down. he had been viewed as a likely is successor to chairman and ceo. softbank announced that arora will step down and will become an advisor as of july 1st. 58-year-old son said he hoped to hand over the reins to arora been his 60th birthday but he feels he needs more time. he needs another 5 to 10 years at the helm and this is not the time to keep arora waiting. >>> japan wastes six million tons of food every year. consumers are responsible for about half that. producers and distributors play a role too. they have to dispose of food that hasn't been shipped or sold by a certain time. so companies are coming up with new ways to keep perfectly good food out of trash can. >> translator: these product will be thrown out. >> reporter: executives are testing a new system aimed at cutting down on wastes. they've teamed up with a weather consulting firm to create business forecasts based on weather data. >> translator: we send information like there every day so the company can predict demand fo

wooden softbank step in and helps out -- wouldn't softbank step in and help sprint out? they were structured opening it tooid any more risks. what is the worst that could happen for bondholders? michelle: sprint goes into bankruptcy or default on its debt. they are left fighting over these assets, these deals are secured. they do not have as much recourse as these new lenders do. are they basically supporting these bondholders for the short-term lifeline? shery: thank you so much, michelle davis of bloomberg news. julie hyman has a check on company movers. julie: controversial stocks we've been talking about today. kumors being targeted by citroen research. he said this is a morally bankrupt company. chemoursan for declined to comment. chemours was designed to go bankrupt as part of a spinoff from dupont. people livingfrom near a plant in west virginia. they claim they hurt by one of the chemicals from that plant. the amount of liabilities that will be assumed by this entity. one of the chemicals this , park place said earlier this year the prices for that chemical will

purchasingdiscussing softbank's stake in a game maker. up next, the ecb is out in force with the message that monetary policy alone is not enough. debt toral bank adds vw its portfolio. we hear from president draghi next. ♪ mr. draghi: there are many understandable political reasons to delay structural reforms, but there are very few good economic ones. the cost of delay is simply too high. given the interactions between policies that i've described, it is in everyone's interest that the various trends of policy buttress each other. if only because that will shorten the time it takes for each to produce its effects. francine: that was ecb president mario draghi speaking in brussels. his comments were echoed by the bank of france governor who said he wished france would speed up reforms. let's get to the bloomberg business flash with nejra cehic. energy arees in dong trading higher after becoming one of europe's biggest initial public offerings this year. they sold 17.4% of shares at $36 each. ,hat gives the danish utility which is trans

softbank is divesting $5 billion in the company's adr. through a new trust. it is also selling some stock back to jack ma's company. the rest of the members of the alibaba partnership as well as the sovereign wealth fund. softbank will be able to balance its own sheet, they have reported holding 8.5 trillion yen of long-term debt. that is according to some research services. that is shy of $77 billion. they are increasing this liquidity cushion for the company right now. >> goldman sachs has cut dozens of investment banking jobs in the last few weeks, according to people familiar with the matter. jobs were eliminated across mergers and acquisition teams, the latest in a string of job cuts in the industry. >> we had news of hsbc cutting dozens of senior jobs, and now you're talking about goldman doing the same. and the thing to keep in mind is this is over and above. goldman does this annual 5% cut of jobs every year. so this is over and above that. we saw them do something similar in the trading division where they cut up to 10%. we don't know what percentage

softbank, alibaba paying 74 dollars is share to buy back its own stock. it will be sending $400 million in shares to the alibaba partnership, and $500 million each to two state investment firms. news out of australia, retail sales on the way up, less than economists estimated. the way out, 1% from a year ago. aussie dollar trading around $.73. adjusted retail sales month on month up to 10 sub 1%. aussie --deficit, 1.6 billion aussie dollars, i should say. these are the figures coming through for april. by 1%.s on the way up we have the shanghai and hong kong open. we will get these graphics up. aussie dollar, we have been following that all morning. we are coming off a strong today rally. largely and change. no big surprise. of could make an argument medium risk profile to those numbers. i never than expected trade deficit. er than expected trade deficit. you have some of these big stocks pulling down the index. off two days a fairly impressive growth numbers. you have the aussie 10-year bond yield a 2.26. we just did a survey two weeks back before the da

we are also keeping an eye on softbank. they sold off a large chunk of their alibaba holdings and sources suggest they may not be done just yet. see to get rid-- of other assets, including gaming assets. overnightre price dip . we seem big miners declining in the london trade. it might -- we are expecting retail sales following on from wednesday. cory: quarter after quarter, face book success has created billions in free cash flow. earlier, the bp of global marketing set down with a team at bloomberg go and ask if he shift to a lead a big impact on traditional companies. guest: companies that had been a ang -- had been around for long time have to either acquire a disruptor to inject that into their system, have a venture fund that in it or invest in a parallel organization or rewire their culture, which is the hardest thing to do. >> facebook has an open about its own struggle as the mobile dynamic shifted. how are you using that to do what you are saying there? convincing companies of the profound cultural change they nee

emily: softbank is unloading a stake in alibaba. peter, your firm is reporting that there may be a basement deal in asia. what are you expecting? >> softbank has been focused on cleaning up its balance sheet. they sold the stake in alibaba. it was about $10 billion. now they are selling their holdings in supercell. they also sold off another game company. entertainment. they are trying to raise some cash and straighten out their balance sheet. sprint has been a challenge for them. the interesting thing, from a tencent side, they are spending all this money and not getting control of the company. supercell.n for the founders will still run day to day operations. the founders want to preserve this unique culture that hristian was talking about earlier. emily: in the world of gaming, one hit wonders are legend. we have seen companies suffer from this before. can they keep the innovation going? >> i think they can. the gaming industry is about talent and culture. what supercell has done so well right from the start is to have a team of

softbank getting serious about improving its balance sheet. it is planning to raise over $10 billion as they look to restructure the business. we are in tokyo. alibaba, now gung ho, what with the cash be used for? add the planned stake, thatr cell is more than $14 billion in cash they may raise from these the vestige or's. the company said they have managed leverage and reducing debt and want to gain more flexibility in investments, and it seems like they're getting more series about fixing the balance sheet. the company's debt has grown sixfold over the past four years to ¥12 trillion. that is part of the reason why the company has been massively overvalued. there was a $20 billion gap between its holdings and market cap. it has been a sore point for some. now it looks like they are taking concrete stacks -- steps to unlock the value. could there be other assets on the block? our sources are telling us that this is part of a broader restructuring spearheaded by the president. gains are now not considered to be a core part of the company's po

softbank stepping down as president had been hand picked success successor, ran softbank and ran it going to remain ceo longer than originally planned. that will be effective july 1st. interesting story softbank been in the news in part because of that sale of over $10 billion worth of its alibaba stock. it still owns a lot more than that. also, today in the news because of a sale of its stake along with some others who own that same stake in a video game company, they've been monetizing some of their investments there. arora of course famously came from google with a lot of fanfare. and very interestingly last august bought $483 million of stock to show people he was in it, going to be the ceo. apparently son who turns 60 in a year or two decided that really is not a good age to retire. i haven't spoken to him in a while, hope to. perhaps he'll come back and sit down for an interview. that seems to be one of the keys as to why mr. arora's decided now is the time after only two years at the company to seek other opportunities. >> i thought it was an extraordinary story. >> by the way he s

softbank did plunge significantly today. that is as we heard reports that the u.s. securities and exchange commission is launching an inquiry into softbank and the former president. no confirmation, though, i must stress. than just quickly checking on the japanese yen. as i said, it is strengthening in the latter part of the day, up by .2%. the japanese yen, holding. a pretty good day for asian stocks. anna? anna: thank you very much, juliette. group saysof carlyle he doubts the brexit will actually happen, the consequences are so dire. >> it is unlikely that britain will exit because one of becomes clear that the terms of the exit are so expensive, not only because the eu is to manning expensive terms, but because the consequences are so significant, but i think the next prime minister will not invoke article 50. anna: u.k. companies are stepping up, lobbying to maintain access to the single market. david cameron has called an emergency meeting today of his business advisory group, which includes the ceo's of companies like easyjet. let's get more with stephanie ba

this is a handful of moves the softbank is considering print the company is carrying a debt load of $109 billion partly due to its underperforming investment in the u.s. wireless carrier, sprint. coming up, think of it as legos for coding. we will bring you the ceo taking coding off the screen, next. ♪ emily: walmart says it will begin testing grocery delivery with uber and lift drivers straight the retailer is aiming to match the convenience of services offered by the likes of amazon. our reporter has more from fayetteville, arkansas. >> one of the big things we been hearing about his technology and how that will be the key to driving future growth at this company. they announced a couple interesting things this week, one being a partnership with uber and lyft. customers will be able to order their groceries online and then and uber or lyft driver will deliver them to their doorstep for seven dollars to $10. if it is successful, it is something that will be expanding. another, grocery pick up. another interesting tech thing we noticed this week was a demonstration of how they are usin

softbank has plans to sell $7.9 billion of its stake in alibaba. that may be the beginning of a bigger shakeup. the softbank president is examining several possible sales to strengthen the balance sheet. super cell -- move could value the game maker $5 billion. there are reports the planned alibaba shares sale could by -- buy yahoo! japan. coming up, the highly anticipated trend report, the playbook silicon valley runs off. facebook will go to the ends of the earth and beyond to promote live video. mark zuckerberg's broadcast from the international space station later this hour. ♪ cory: russia has arrested 50 suspected members of a hacker ring. they have stolen for just $45 million from banks of the last year. the country's biggest ever crackdown on financial hackers according to the interior ministry. again used malware to infect computers to launch 18 targeted attacks. this comes at a time when banks are falling victim to cyber attacks. $81 million was stolen from bangladesh. now to the anticipated fly deck in silicon valley. she unveiled her l

softbank in talks to sell the majority in super cell to tencent. softbank coming off the low of the day. is still down 4/10 of 1%. $9 billion deal, we like a deal. back to you. anna: let's talk emerging markets. emerging markets have rallied in the last week, as job data on the fed rate rise, and manus you have a chart on the hour on this very subject. manus: i have, indy. i'm having a bit of a technical glitch. i will hand back to you while i sort that out. you do that. you and jim -- anna: we will just chat. jim mccaughan is still with us. while manus reaches around for his chart, we have seen a resurgence and many asset classes. but the risk of a recession in recent weeks. actually, at the time we thought the fed might hike in the summer, and since then, too. which i thought was interesting. what you make of emerging markets? jim: i think a lot of it has to do with the continuation of very low rates in the u.s. a feeling that we may not even get a rate rise this summer, that we may wait until the fall. i think that is what is leading to perhaps

alibaba will pay $64 a share to buy back to billion dollars of its own stock in softbank. shares will raise a total of $8.9 billion, the lowest stake in the e-commerce company to 28%. a comes as the japanese telecom giant is embarking on an asset divestment plan, designed to shore up finances and pay off debt. u.s. regulators set to approve the biggest beer merger, saying the department of justice could clear the $100 billion sab miller and ab inbev deal this month. however, restrictions may be placed on ownership of distributors, all designed to prevent smaller craft brewers from being squeezed out. and that is your bloomberg business flash. anna: rishaad salamat. , thank you. the u.s. economy expanded at a modest pace across most of the country since the middle of april. causing the labor market to tighten, as employers added jobs and nudging rates higher. that is according to the barrel reserve. but the latest beige book report may do little to change official outlook for the economy. in new versions, they used versions of the word modest or moderate 26 times. watson,ri

but muthar is giving you a great deal. >> i want to talk about softbank and alibaba. that was an enormous transaction. softbank has sold what amounts to $10 billion worth of alibaba stock just in this week a variety of ways. the key one being $6.6 billion raised through the issuance of this equity linked convertible. the convert is linked to its alibaba shares. in three year's time when you buy this convert it converts to those alibaba shares. they exercise the green shoe went up another $1.1 billion. that makes it the largest equity markets transaction globally this year. it's the equivalent all the total equity linked issuance in the u.s. and it's also largest ever mandatory exchangeable globally and the largest ever equity linked transaction in asia. so you get the spurltives, it wasn't just 6.6 billion through the convertible, it was also of course $2 billion right back to alibaba. another 400 million to the alibaba partnership. and 500 million to the sovereign fund gic and then 500 million to -- $10 billion dollars. >> going to turn out they were too concerned ab

. >>> japan's softbank is selling at least 4.9 alibaba shares to raise capital. it will drop from about 32% to 28%. >>> meanwhile, sherry redstone says she has no desire to manage viacom or charities board. her statement comes from a letter of viacom's six mountain environment. last week, a spokesman for red deny stone said the media goal was considering ousting aman and the board of directors. >> well, you would have to study to better than expected billings, but by a smarter margin than in previous quarters. >>> under our most cutting of sales guidance for the year citing sports authority bankruptcy and lick dade. the athletic apparelmaker says it will only realize about .25% of the revenue and it will take a $23 million charge. >>> staples ceo will step down after the company's annual meeting on the she of june. the move comes three weeks after a federal judge ordered to halt the company's measure with office depot on antitrust concerns. sashlth will stay on as chairman until january. it's just about flat in the markets. >>> boyd gain sg selling its 50% stake

he was the air apparent at softbank. he joined from google a couple of years ago, and was promoted into the role of president and was widely received it to be the most likely successor. today there was a small briefing in tokyo, and the two executives he had decided he wanted to stay on longer in the ceo role, and for that reason, nikesh was going to give up the president role. jonathan: what do you think of the timing of that? iner: they sold their stake super cell, a very big payoff for them financially. more relevant is that the cash aurora -- nikesh arora, had come under criticism for some of his practices. question is what role did those criticisms playing his departure. peter roskam, managing editor frazier technology. let's get a look -- for asian technology. emma: police in brussels have arrested a suspect after a bomb scare at a shopping mall. a man called police to say he was walking around with an explosion belts. the bomb squad determines the device was a fake. bance in paris may thursday's protest march by l

we will tell you who is -- what's behind the softbank strategy. we will tell you how he carmaker is trying to lure more talent to its payroll. brazil sinks deeper into recession we will walk you through how south america's largest economy went into a downward spiral. we start in asia where it softbank will sell almost eight ilion dollars of its stake in alibaba. it will use the money to pay down debt and boost its cash position. softbank is the largest investor in alley bama with more than -- in alibaba with more than $1200 and -- $12 million in debt. atst-quarter profit fell 15% the hsbc investment bank. there is a three year to cut thousands of jobs. the nissan a lance is luring workers away from silicon valley. hire tech experts in the software engineers would experience the goal conductivity and mobile services. automakers are trying to compete with the self driving car from google and uber. it is time for the bloomberg quick take where we provide context and background. brazil is in crisis as the economy has its biggest slump in a century and

softbank's ceo son dreams of creating a renewable energy in asia. nhk world's aki shibuya reports. >> reporter: i asked sohn to explain the basic idea behind asia's super grid. we're eager to learn about your vision for the asian super grid. can you give us a big picture? >> in india, for example, lots of sunshine. in japan, lots of land so solar energy suddenly becomes a very, very attractive in india. in mongolia, wind is humongous and in one good wind all the time. we are providing internet business, mobile business, telecommunication and we are always connecting internationally through the under the sea cable, so if we can connect the communication line under the sea cable, why not power cable under the sea? basically the same thing. >> reporter: son plans to build a major solar power plant in india to take advantage of the abundant sunshine there. he also believes the gobi dezert in mongolia has great wind power potential. the plan is to generate electricity there, equivalent by 100 nuclear reactors. son wants to connect these renewable energy

even after the sale, softbank will remain alibaba's largest stake.lder with a 28% alibaba's u.s.-listed shares have gained 21% since the inpany's public offering 2014. shares of boc aviation rose on the company's hong kong debut after an ipo that raised $1.1 billion. flotation of the aircraft leasing unit of china is asia's second-biggest this year. the company plans to use the process to buy new planes if the region is set to overtake the u.s. as the world's largest market for aircraft in two decades. tot us steel completed the sale of its long products business. the operation, which includes steelworks and mills, will trade under the name british steel. the business employs 4400 people in the u.k. and 400 and france. that is your bloomberg business flash. matt: thank you very much. banking's brave new world, as job cuts continue to plague the sector, what does the future hold for the financial services industry? senior said to have cut investment banking jobs as part of a plan to reduce costs. mcquarrie has planned 30 job at its equities unit. the ceo of the world's largest mon

even after the sale, softbank will remain alibaba's largest shareholder. alibaba's u.s. listed shares gained almost 21% since the inl gained almost 21% since the initial public offering in september of 2014. the operation, which includes still works and to mills, look trade under the name british steel. the is this employs around 400-4000 people -- 4400 people in the u.k. juliette atyou, sally in hong kong. sterling fell by the most in almost two months against the dollar yesterday after a new poll showed a jump in support for the campaign to take the u.k. out of the european union. joining us from berlin is the vote lead campaigner and u.k. in duncan parliament ia smith. good to see you in berlin. i wanted to ask you about leadership of the conservative party. what kind of result would it take on june 23 to prompt a leadership change at the top of the conservatives? mr. smith: actually, i think the issue about leadership is irrelevant. it's a debate about whether britain should remain in what i consider a bureaucratic and inefficient european union, or whether it should

softbank is softbank's largest shareholder. its staples dropped now from 30% to 28%. shari redstone says she has no interest in managing viacom. red deny stone says -- on today's economic agenda, april construction spending out at 10:00 a.m. eastern time as followed by the fed's beige book at o'clock p.m. the big automakers report there may sales numbers throughout the morning and afternoon. as for earnings, look for results from michael kors, lands' end, and box after the close. >> the latest baby born in the united states with a mom suffering from zika virus. the baby's mother contracted the virus in another country she was visiting the u.s., but the baby was born with microcephally, or with an abnormally small head and brain. officials are monitoring 300 women who were exposed to zika. >> her mother is a mic they knew she had been exposed early on to zika. even before the tests. >>> totally shifting gears, tells sa ceo elon musk -- do they even have gears in those cars? probably not. >> you like the way they look. >> i'm going to like the way they look. i like the

softbank president nikesh arora stepping down. he'll remain an advisor. he was hand picked as the successor to ceo masayoshi son. softbank owns sprint, a big stake in alibaba. yahoo japan and many others. they do about $80 billion in revenue. he was seen as being the successor to masayoshi son and creating or taking it into a tech-focused version of berkshire hathaway. now that he is not that man, questions over who would take over the company. nikesh came from google. when he left there were a lot of people who were both surprised by the move but also sad to see him go because he had been seen as one of the operational guys who actually turned google from a start-up, if you will, to a more operationally focused company. big questions about his future and now softbank's. >>> as we mentioned, two days to go until the u.k. votes on its future in the european union. a new poll out from u gov shows 42% want to stay. 44% would vote to go. the polls are close. another neck and neck at 44%. others showing the remain camp picking up speed. joining us is dennis ga

developing have been in a stellar fashion in japan, such as with their mobile partner, softbank, and we mentioned in their interview that softbank has been able to sort of kind of persuade their withmers in the shops streaming video and adding custom to them. they have also partnered with powerful tv stations, such as fuji television, to make original content. latest one is from a very popular japanese novel, an award-winning novel that clicks s to.ased the right onlyshow is attracting not but alsorom japan, those outside japan, which is kind of interesting. angie: yeah. how is the competition and the environment in which other streaming services like blue, amazon prime, how do they fair against netflix in japan? he's as he doesn't view the conversation in the way that they tend to think of each other shares, but he really thinks that it's sort of like mixing the ground together and expanding that streaming video service together. one interesting metaphor that he made was to think about the tv channels. your tv at your home, you don't have only one channel, but you can see multiple c

softbank will remain alibaba's against shareholder. a slowdown in deal activity. equity capital markets came across hong kong. it is now part of ceo lloyd blank finds biggest crosscutting driving years. cuts 10% of the staff at its fixed income operation. presented their case for reopening. this joint venture. the mine has been closed for some time. it was a collapse that killed 19 people. local employerst and the mayor is supporting the campaign to allow it to resume operations. our next guest will be providing the details on that. bloomberg markets middle east. ♪ a quick round of the stories. aid convoys have entered damascus which is been under siege for four years. the supplies include medicine and food. saying an nations earlier aid convoy was turned away. russia says it will intervene by allowing a 48 hour cease-fire. they are struggling with an economic downturn in recent years. it is to blame for the fallout from the war in neighboring syria. a senior member of the german government considering the gulf rivals. the state secretary says it should create a

softbank is looking to shed its non-core businesses in a broader shakeup of its portfolio and selling part of its stake in alibaba. biggest videogame conference of the year is underway in l.a. and among the biggest announcements, highly anticipated hardware of dates for microsoft xbox and sony playstation. one company drummed up serious height -- serious hype. us from e3.s thank you for being here. there's this idea you might be unveiling some new games. what did you mean by a big way? guest: i guess to be here to see it. we have an enormous those at his front and center. we are showing up our upcoming releases in the booth is dressed as a new orleans street reimagined as new bordeaux, part of our upcoming release. i think the long lines reflect the excitement of those attending the show. up date on grand theft auto six or read dead redemption to? we haven't made any announcements as far as from focusing from this year's schedule. civilization six and nba 2k and wwe 2k, our grand theft auto online property continues to delight consumers with the content drop which has gone great. we h

that number is dwarfed by softbank's whatsapp with one thaton users and wechat is trying to expand in the same market. rishaad: thank you very much, pavel. looking for that ipo fixing as well as the price range and looking at that as it tries to float on the market. quickly checking on other stories -- the new york stock exchange roaring into the 21st century. using cell phones on the trading floor for the first time. it does follow communications breakdown on friday when land lines went dead during the vote in the u.k. nyc says the brokers can use their own mobiles only when land lines are not working. cboc reports saying chinese banks will be able to maintain relatively high levels of capital even if they are hit by severe shock. the capital adequacy ratio went from 13% to 11%. the worst-case scenario of gdp growth at 4%. china's banks have strong ability to deal with macro economic shocks and maintain stable operations. buyralia's group looks to assets from the u.s. drugmaker. it seeks to close a deal with allergen. it plans to use the purchase through capital raising with four yea

. >> alibaba says it's bought back $2 billion from its largest shareholder softbank which was selling nearly $9 billion with. other buyers including singapore's -- which bought $500 million each. a group of alibaba executives and founders bought another --. stock up 7% today. >> dermira says it's experimental topical drug to stop excessive armpit sweating proved successful. existing therapies aren't as effective and can be expensive so dermira plans to apply for market approval with the fda next year. >>> and guide wire reporting better than expected results. the maker saw license revenue rise 38, so it is up in the market. and as many as 400 film and tv staffers at fox have take an voluntary buy out package. fox initiated the buyout as part of a company wide effort to cut 250 million from its budget. >> technician visionaries are gathering this morning. elon musk expects apple to have a car available to the public by 2020. >> i think they will probably make a good car and probably be successful. the car industry is very big. is it is not as though there is, you know, one company to t

softbank shares are trading up on the news while alibaba shares fell in extended u.s. trade. >>> toyota is in lait stage discussions with google to buy two robot development conditi s conditions. a $1 billion budget from the toyota resurge institute is expected to continue to financing the sale. >>> now, dutch super market beat expectations composed of jurndz lying profits of 4.9 million angel. >>> earlier, the ceo was quizzed about it. >> we are preparing ourselves very well already. so we are, in a lot of cases, really ready when the excitement hopefully of the merger close comes in and everybody starts working on that. so there's a positive note on that that the timing, which has given us in this case from the competition authorities mainly as a -- as the length us in the process. people in our business are focused on running the business today and they are ready for, of course, when the excitement of the merger closer there and we get the moment to come together. >> patrick from raba bank is now on the line. you are overweight with a price target of $24.5 and an ep

. >>> alibaba heading to markets, softbank announced it will sell $7.9 billion of the e-commerce giant to offset losses that the company may see from u.s. telecom unit sprint. shares down 5%. >>> all right, let's get on politics. less than a week away from the next big primaries in california and new jersey, and the new "quinnipiac poll" shows hillary clinton and bernie sanders leading donald trump in national polls. the poll shows hillary clinton just a 4% lead over donald trump, 45-41. hillary was in newark, new jersey on the campus of rutgers university this afternoon, holding a rally before heading up to boston for fund-raising. she also canceled her thursday events in new jersey to put her focus on the tight race with bernie sanders in california. so does that cause nervousness for hillary about the outcome in the golden state? adam shapiro is in new jersey outside of hillary's event today. adam? >> reporter: she does expect to win the nomination, she only needs 71 points to clinch the magic number with the democrats or 71 more delegates. and she can get those out of new jersey, b

. >>> a day after softbank announced it would sell 7.9 billion dollars in alibaba stock, singapore something something. they each purchased 500 million dollars in the e-commerce giant shares at $74 a piece. alibaba also buying $2 billion of its own stock at the same price. and meanwhile facebook is calling technology that not just reads but also understands content almost like a human. as transformational tech and artificial intelligence take center stage as the annual code tech conference in los angeles. julia boorstin has more. >> cutting edge technologies driving opportunities in next generation of tech. sheryl sandberg weighing in. >> facebook remains the best place in the world to get the largest audience of teens and we're proud of that. but we also know we need to execute. we need to continue to work hard, invest. build products over a three, five and ten year time frame. >> artificial intelligence is a huge topic among all of the executives here. talking about the big role ai will play in the future. and google's ceo saying they are just at the beginning of building out the transform

softbank, we have been watching .he stock it is seeing an upside of about 2.6%. we are also looking at gold miners in australia. we've seen a little bit of a recovery after a two-day slump in gold. anna: thank you very much. gave her cautious and uncertain view for the u.s. economy. in the first of two days of testimony, the fed chair says she sees near and long-term factors cloud in the possible leaves thebritain european union. >> this is a unique event. parallel.close it is hard to know what the consequences would be. of course, there is always uncertainty domestically and globally. we operate in an uncertain environment. anna: mario draghi says the ecb has plans in place in case the outcome of tomorrow's referendum sparks turmoil. ready to trying to be cope with all possible contingencies. at this point, it would be very difficult to be more precise than that. i think we have done all the preparation that is necessary now. anna: mario draghi. the countdown clock telling me we are 23 hours and 48 minutes and 50 seconds until the opening of the polls in the ref

softbank wants to invest $5 billion in alibaba. forecasts for china's run at the fastest pace. a five low, as traders increased debts. a proposed takeover of the london stock exchange may result in hundreds of job cuts. they expect to lose the next 700 positions. thank you very much indeed. let's return to the discussion of oil. we are trading $49 on the nose. the head of european oil and gas research joins us in the london studio. are you more bullish on the sounds coming from opec unity? >> i think the market recognizes that the market is rebalancing. i think opec is maxed out in terms of most of its production. see more demand, a little less supply. toward the end of the year, we are going to get a rebalancing. opec could make that happen quicker by doing something on the supply side. is disunity within that organization that is going to make it very difficult to achieve. caroline: how much higher will oil go? >> we believe $60 per barrel by the end of the year is within sight. we think by the end of next year, we could be as high as $70 per barrel. maybe not in a straight l

japan, they have been teaming up with softbank to expand their subscribers. onnterviewed the japan ceo friday, and he says it has been gradually going well and more people are subscribing to their services in japan. we have loads of other streaming services, hulu, amazon prime, both in japan as well. isyeah, competition here getting interesting. offers fast, which package delivery, is also attracting subscribers. , now owned by a japanese tv station, is adding a lot of local content, which japanese people who are not interviewing english programs are likely to be watching, so netflix is ,rying to offer more original made-local content to attract japanese viewers. rishaad: great. thank you so much, joining us from tokyo. hour, standard chartered's take on the currency atket, which could be most risk if britain decides to leave the european union. you're watching bloomberg. ♪ is monday, june 20. this is "trending business." ♪ rishaad: we are taking you to tokyo and singapore. asia-pacific stocks on the rise. u.k. willesting the vote to stay in the european

softbank: 73% of super cell. danish utility dong energy has become one of europe's biggest ipos this year. amazon.com is jumping into the most competitive grocery markets. fresh food delivery service will central andable in east london. it is the first time the company has offered the service outside the united dates. they are draining a crowded customers withsh whom they have been in a price war for years. francine: ky. these days everyone seems to be fine. stocks,ets have some and our chief economics correspondent is still with us. when you will get central-bank policy, it seems like there is so much being done. we believe mario draghi when he says he will do whatever it takes. and it is distorting market. >> it is up today, it has been up since the jobs report on friday. francine: it seems that agents and cultural banks are going to be on hold, but possibly cut because of the links to the u.s.. is a little bit more difficult left out there, you have a slowing china. the willts of that have to introduce more st

softbank serious about improving its balance sheet by embarking on asset sales. billionn to raise $10 from selling the company's stake in alibaba. a further $685 million from offloading shares. the money will pay down debt and should afford more flexibility on future investment. is adding more products to its online offerings in china, betting on e-commerce to bolster a turnaround there. the company missed its overall long-term sales target for four years now. we have a look into this. where is nestlÉ headed with this plan? rosalind: it will ride on the e-commerce bandwagon. it has rolled out 67 new alibaba'selling on business to consumer platform. they are new to china and not available in stores. they are only available online. the managing director for the greater china region did say that nestlÉ e-commerce and china has triple digit growth rates. it is already more profitable than bricks and mortar. nestlÉ has missed its long-term sales targets for four years. its recent growth was fueled by recent e-commerce sales, so hopefully china will help them to boo

. , now we learn about softbank cutting its stake in the company, not a huge reduction in the piece of pie, but still unsettling investors. when it comes to the short interest, it has peaked since the 2014 ipo. it has never been this high. this is the number of outstanding shares borrowed for short-sellers, 124 million last week. it more than doubles from december. the stock itself has then on a wild ride. it has dropped 6% in the past few weeks as we learned about the sec investigation. the questions raised right now is why is it not consolidated under alibaba's accounts, because alibaba owns nearly half of that company. raise questions about single day transactions, one of the biggest promotional days. analysts say that could be detrimental if they have to restate results, and could cast a greater shadow on china companies listed in the u.s.. sgie: have they put any ell ratings on the stock? .> no sell ratings alibaba still showing some great growth here. milestones,latform $450 billion sold during that time. alibaba relatively cheap compared to global peers. 23 times projected 12 mo

southbank is the largest investor in alibaba and has more than 170 -- softbank is the largest investor in alibaba and has more than $170 billion in debt. -- $170 million in debt. that is the bloomberg business flash. i am distracted because we are still talking star wars. are still talking star wars, "the world according to star wars." cass sunstein, with a jewel. it is a short, sharp, and very deceptive look, on the many themes of the death star and the rebel alliance. here is a quote of the moment. 'sbounces off robert kagan op-ed in "the washington post." steen --essor sun i do not sunstein, know if mr. trump or senator sanders read you, but these are times. is it becoming a certitude in our discourse, as robert kagan said in "the post" the other day? cass: i would not say yes, but it it might be even a set -- i would not say yes, but it might even be an essential question. star wars, which is in some ways a cartoon, is on to a deep historical theme which is true, which is in a time of polarization and division when nations are struggling, with let's say the free movement of persons

investor softbank is going to sell up to $7.9 billion of its 32% sake -- stake. in an effort to bolster the bank's balance sheet, people think this could be the first of several reductions. italian banks trading down for the second session. on the news that the bank of italy may ask the italian inject an lenders to additional 1.5 billion euro into a bankruptcy fund. shares are down 90% from their record peaks in the last decade. hsbc may cut jobs among the senior high level investment banks in an effort to cut cost, consistent with a three-year plan outlined by stuart gulliver last week -- last year. megan: let's get an update on what is making headlines out by the business world. break: there may be a into the investigation into the egyptair plane that crashed into the mediterranean. has picked up signals from deep under the surface, presumed to be from the black box. it appeared off radar may 19. france,or problems in rail workers have gone on strike and 40% of high-speed rail services may be disrupted. the president is trying to contain the unrest before the s