35 Burst results for "Jack Ma"

Alibaba founder Jack Ma is lying low for the time being, but he's not missing

Snacks Daily

03:20 min | Last week

Alibaba founder Jack Ma is lying low for the time being, but he's not missing

"Stock just jumped five percent yesterday on word. Their ceo is not dead. Wow this year. The huge fundamental difference of doing business in china versus the united states. All right so jacqueline. You're talking here about the other jack jack. Ma former teacher present billionaire current location. Jack of jack ma. The former english teacher jack ma. He is a hard worker seventeen miles a day on a bike uphill to learn english. Both ways he also applied for job at kfc twenty three other people and he was the only one who didn't get the job. So what we're saying is jack. Ma falls off his bike. He gets back on the bike and then he founded alibaba twenty one years ago and that became the amazon of china. Now we mentioned jack mas hard working he actually evangelize is the nine nine six workweek which is nine. Am tonight pm. Six days a week for a total of seventy two hours and sounds absolutely awful opposite of the four day workweek way. Bigger the four day workweek knackers today. You could argue. That alibaba is more innovative. Then america's amazon. Yeah it's basically it's google. It's amazon it's fedex. It's pay pal all that rolled into one with a nice bow on an app alibaba stock however is down thirty percents since october on some really bizarre and kind of scary news all right. So this one's kind of strange. It all started back in october. When ant financial a different company the pay pal of china was prepping for the biggest. Ipo effort alibaba under the leadership of jack ma. They invested early in aunt group because they saw the need for digital payments in the ecommerce future so alibaba owned thirty percent of aunt. So anti peo- was going to be a big payday for alibaba. therefore jack ma. that's because aunt has one billion customers. They offer every financial service imaginable. He has eight. It's pretty much like the pizza hut buffet for fintechs picture. The little kale in between all the cottage is when jack ma made a fatal mistake he criticized. The chinese. Government does knackers in the us. You perfectly are allowed to criticize the government. Actually do it all the time. Even though you're not a huge fan of the damage that's okay not everyone's a fan of the dam and you're allowed to complain about the dmv because you are protected by the first amendment of the constitution freedom of speech though not a write in china. That's why it was a big deal in october. When jack ma at a conference during a speech criticized chinese regulators for stifling tech innovation with outdated regulation get this is the result the ant. Ipo that huge biggest ipo ever. It was blocked by authorities. And they called in jack ma for questioning they wanted to make an example of him speaking out against china so they actually ordered group to return to their payment origins. Because of what. Jack ma set and jack ma hasn't been seen in public since then and for good measure. The chinese government decided to launch an antitrust investigation against alibaba. After jack ma said what he said. Oh it's drop alibaba stock mar- oh and by the way w just told cnbc. Jack ma is alive. He's just laying low right now keeping a low profile. We're glad to hear that he's alive. But it's a little strange for a stock to jump because he's alive fleet

Jack Ma Alibaba Jack Of Jack Ma China Jack Mas Amazon MA Jack Jack Jacqueline United States KFC Fedex Jack Google Chinese Government Cnbc
Where is Jack Ma, China's e-commerce pioneer?

KYW 24 Hour News

00:42 sec | Last week

Where is Jack Ma, China's e-commerce pioneer?

"In the world is China's best known entrepreneur, E commerce billionaire Jack Ma has not made a public appearance or social media post. Since late October, just over a week before a much anticipated stock market listing of Alibaba's financial affiliate and group was blocked at the last minute by Chinese regulators. Ma was even absent from the finale of the African talent show he created. That's prompting speculation about what might have happened to the billionaire founder of Alibaba Group, World's biggest e commerce company. Chinese regulators have criticized the company for edging out rivals from the market and hurting consumer rights. Alibaba, meanwhile, has been probed in China for alleged monopolistic behavior.

Jack Ma Alibaba China MA World
"jack ma" Discussed on Squawk Pod

Squawk Pod

09:17 min | Last week

"jack ma" Discussed on Squawk Pod

"Development between chinese companies in the. Us is only part of the larger tech story in china. Late in two thousand twenty. China joined the us in europe in a global big tech reckoning when it released series of proposals to rein in the chinese fintech sector new rules on how online leaders could operate and the government increased scrutiny on players like ten cents at jd dot com in an effort to curb anti competitive behaviour. Then china effectively blocked would become the largest ipo ever. A public listing. The chinese fintech aunt group shortly thereafter china's markets regulator opened antitrust probe into e commerce giant alibaba aunt groups largest shareholder and one of the most valuable tech firms in the world amid all this chinese officials had met jack. Ma co founder of ant group and co founder and former chairman of alibaba. He's still one of companies largest shareholders. He's china's biggest business. Celebrity enriches tech tycoon. He's regarded globally as a symbol of china's success up until recently he was a pretty visible character. Even starring as a judge on a popular reality show. But jack ma hasn't been seen publicly two months. We're all starting to wonder where he's gone back in october. A financial forum in shanghai mom spoke out against chinese regulators claiming they're conservative approach hindering innovation. He envisions a different financial system for china. Global onlookers are growing more and more concerned at the chinese communist party would rather those visions remain unrealised. Here's becky quick. joining us. Right now is leeland. Miller china beige book international. Ceo and leland. Obviously it's just speculation at this point but it does come after. Some clearly heightened tensions between jack ma alibaba and chinese regulators. Yeah i mean the question right now is whether jack is is managing a very low profile for his own good or whether he's been brought in a dark room in his having new terms of alibaba dictate to him. A nobody knows nobody will know until till the government comes out with a statement <hes>. I think right now you know. Jack is sort of muttering himself. Oops and it's oops on some of the things he's done in recent months in terms of antagonizing government regulators but this is something that the alibaba ecosystem has been something that has been antagonizing state banks and the state run financial system for years and years. So it's it's not altogether surprising that he's he's become under more pressure right now and he has a target on his back now that he's been completely vulnerable. You're not talking about the retail side of alibaba. You're talking about the financial side what they've been doing. And why don't you explain that a little bit to people why it's such a threat to the chinese banking system. This is a point that <hes>. That i've made years ago when alibaba. Cbs's guest commentator for the alibaba ipo in two thousand fourteen and everyone was talking about spectacular. This company is and it's true. It's spectacular innovative companies. But the is alibaba's not one company. It's actually two companies <hes>. It is a retail firm. Which is a chinese national champion. I think that's what people think of when eight when they think of alibaba most of the time. But it's also a giant financial firm and it has been innovating behind the scenes of chinese finance for years whether it's <hes> on my mutual funds whether it's e payments these are systems that have been beating the tar out of the state banking system. Alibaba for yle was allowed through you. It's it's mutual fund to to offer these very very high rates where the state banking system couldn't and over time china beige book. You can see that. There's been migration deposit flight from the state banks over the alibaba system. So jack has got an enormous number of people who really dislike him inside the chinese banking system and this is a problem that happens in beijing step in and they'd regulate the alibaba are force them to bring the rates down but this has been a tension not for months but for years. So so this is this. Is jack finding himself. Boehner and having lot of enemies on the inside leland. Just in terms of of what that means for the chinese population. I mean it's it's a good thing. It's it's helped so many people in china who wouldn't have been able to get loans otherwise wouldn't have been able to do some of those things so i have a hard time thinking that that in itself has been the biggest problem or why the communist party might down on him <hes>. But you know some of the things that he said very recently have been incredibly antagonistic. Just in terms of things you're not allowed to say in china that he said right in one rule is you don't antagonize the chinese communist party and expect good things to happen but but look wall. What alibaba has been doing been innovative. It's been good for chinese consumers and households and the chinese economy keep in mind the vested interests that are affected by this. You have these technocrats. Bureaucrats have the bankers who have watched their their fiefdom less and less important over time. and so even. If this is good for china writ large. This is a real question. Mark to where the banking system falls in this new world order now. If jack had his way he was sweep the banking system aside and replace it so it may be good for china. But it's not good for a lot of party. People who are in the top of the power chain which means that jack better tread carefully at this point. It's raised a lot of questions about what this means for international companies trying to do business in china whether they be tech companies or something else but we also have at the same time the nyse announcing that it is not going to move forward with its plans to deliver those three. Chinese companies says it did this after having discussions with regulators. But you've got to think it's it's got more to do with who's going to be in the oval office come january twentieth a biden administration versus a trump administration. What what does the setup for just in terms of the us relationship with china. Yeah look i don't think biden particularly wants to touch this issue so he's keeping his hands off it but this is really about inattention by the trump team. I mean they put a rule in place and they sort of went off and pay no attention. You know certain certain agencies like treasury behind the scenes hoping to weaken this. And and that's what they did and so if you don't if you put out a bunch of rules and then you don't fall through on them. You're going to have a lot of questions over how they should be interpreted and at this point. They're so little clarity on what the administration was asking for. And what the executive orders called for and and what executive orders in the pipeline. That these <hes>. That nyse in and a bunch of other financial entities basically said. We don't understand what's going on here and we're not going to implement them and they got soft backing behind the scenes from treasury not to implement them and so here you are. Everything is sort of falling apart in terms of some of these latest trump moves in the last days of the trump administration. Bring them back to what investors might be looking for. Is this a situation. Where manufacturing companies anybody. Who's making things that they're selling <hes>. Either from china or to china. How is this going to play out. You have any ideas. I think that the biden administration has come in with severe restraints in terms of what they can do. They want to use political chits. They have on domestic issues. They they know that biden has had years and years and years of being called week on china when he was vice president. And so they're not gonna be able to do any heavy lifting on the china side particularly in the early days. So i think that from this standpoint biden wants to sort of he won't be able to pointing back he doesn't want to do a whole lot. And so you know you're going to be on a glide path at least until he gets both staff in you know three to six months from now but in terms of investment with china. This really has to play out. The chinese are certainly gonna come in and try to have a honeymoon. Period with a biden administration promising kinds of climate goodies. The question is who are going. To policymakers. That are gonna be in charge of china policy for for for the biden administration. And are they going to have authority within his realm in order to push back congress for certainly be at their backs but but this is some this issues. These china issues. That i think biden would like to ignore for as long as possible in his first six months. There are a lot of china hawks in congress. That would probably make that pretty difficult to ask. What what should we be watching. What are the key points or the key events. A lot of it has to whether whether cova continues to to suck all the oxygen out of the room you know code will be will be issue number one. But you're right on congress you're gonna you know you have some very fire. Republicans you also some fire. Democrats who who are who are who are quite animated on the china issue. There's a bipartisan agreement. Right now that china needs to be dealt with rather rather tough fashion. So i think that you're going to have a lot of pressure from congress. Which is why i think biden wants to have nothing to do with it. He's gonna let some a lot of some of the trump stuff glide he's gonna want to avoid the issue as much as possible. It's going to become harder and harder. As the beijing olympics comes into sight year and a half from now <hes>. There is going to be a lot of push both domestically internationally to boycott the olympics <hes>. A year plus from now and this is going to become extremely hot topic not yet but later this year and so i think he's got a pass for at least a few months but later this year. I think it's going to get a lot lot lot tougher on the environment on china again. I can't believe the olympics in beijing are only a year and a half or so away. A leland it's good to talk to you. We will see him

china alibaba Katie kramer Miller jack blackstone green jp morgan berkshire amazon healthcare venture jamie diamond Kernan andrew ross sorkin hong kong yoon leland office of foreign assets us treasury nyse jack foreign ministry becky biden administration
What happened To Jack Ma

Squawk Pod

09:17 min | Last week

What happened To Jack Ma

"Development between chinese companies in the. Us is only part of the larger tech story in china. Late in two thousand twenty. China joined the us in europe in a global big tech reckoning when it released series of proposals to rein in the chinese fintech sector new rules on how online leaders could operate and the government increased scrutiny on players like ten cents at jd dot com in an effort to curb anti competitive behaviour. Then china effectively blocked would become the largest ipo ever. A public listing. The chinese fintech aunt group shortly thereafter china's markets regulator opened antitrust probe into e commerce giant alibaba aunt groups largest shareholder and one of the most valuable tech firms in the world amid all this chinese officials had met jack. Ma co founder of ant group and co founder and former chairman of alibaba. He's still one of companies largest shareholders. He's china's biggest business. Celebrity enriches tech tycoon. He's regarded globally as a symbol of china's success up until recently he was a pretty visible character. Even starring as a judge on a popular reality show. But jack ma hasn't been seen publicly two months. We're all starting to wonder where he's gone back in october. A financial forum in shanghai mom spoke out against chinese regulators claiming they're conservative approach hindering innovation. He envisions a different financial system for china. Global onlookers are growing more and more concerned at the chinese communist party would rather those visions remain unrealised. Here's becky quick. joining us. Right now is leeland. Miller china beige book international. Ceo and leland. Obviously it's just speculation at this point but it does come after. Some clearly heightened tensions between jack ma alibaba and chinese regulators. Yeah i mean the question right now is whether jack is is managing a very low profile for his own good or whether he's been brought in a dark room in his having new terms of alibaba dictate to him. A nobody knows nobody will know until till the government comes out with a statement I think right now you know. Jack is sort of muttering himself. Oops and it's oops on some of the things he's done in recent months in terms of antagonizing government regulators but this is something that the alibaba ecosystem has been something that has been antagonizing state banks and the state run financial system for years and years. So it's it's not altogether surprising that he's he's become under more pressure right now and he has a target on his back now that he's been completely vulnerable. You're not talking about the retail side of alibaba. You're talking about the financial side what they've been doing. And why don't you explain that a little bit to people why it's such a threat to the chinese banking system. This is a point that That i've made years ago when alibaba. Cbs's guest commentator for the alibaba ipo in two thousand fourteen and everyone was talking about spectacular. This company is and it's true. It's spectacular innovative companies. But the is alibaba's not one company. It's actually two companies It is a retail firm. Which is a chinese national champion. I think that's what people think of when eight when they think of alibaba most of the time. But it's also a giant financial firm and it has been innovating behind the scenes of chinese finance for years whether it's on my mutual funds whether it's e payments these are systems that have been beating the tar out of the state banking system. Alibaba for yle was allowed through you. It's it's mutual fund to to offer these very very high rates where the state banking system couldn't and over time china beige book. You can see that. There's been migration deposit flight from the state banks over the alibaba system. So jack has got an enormous number of people who really dislike him inside the chinese banking system and this is a problem that happens in beijing step in and they'd regulate the alibaba are force them to bring the rates down but this has been a tension not for months but for years. So so this is this. Is jack finding himself. Boehner and having lot of enemies on the inside leland. Just in terms of of what that means for the chinese population. I mean it's it's a good thing. It's it's helped so many people in china who wouldn't have been able to get loans otherwise wouldn't have been able to do some of those things so i have a hard time thinking that that in itself has been the biggest problem or why the communist party might down on him But you know some of the things that he said very recently have been incredibly antagonistic. Just in terms of things you're not allowed to say in china that he said right in one rule is you don't antagonize the chinese communist party and expect good things to happen but but look wall. What alibaba has been doing been innovative. It's been good for chinese consumers and households and the chinese economy keep in mind the vested interests that are affected by this. You have these technocrats. Bureaucrats have the bankers who have watched their their fiefdom less and less important over time. and so even. If this is good for china writ large. This is a real question. Mark to where the banking system falls in this new world order now. If jack had his way he was sweep the banking system aside and replace it so it may be good for china. But it's not good for a lot of party. People who are in the top of the power chain which means that jack better tread carefully at this point. It's raised a lot of questions about what this means for international companies trying to do business in china whether they be tech companies or something else but we also have at the same time the nyse announcing that it is not going to move forward with its plans to deliver those three. Chinese companies says it did this after having discussions with regulators. But you've got to think it's it's got more to do with who's going to be in the oval office come january twentieth a biden administration versus a trump administration. What what does the setup for just in terms of the us relationship with china. Yeah look i don't think biden particularly wants to touch this issue so he's keeping his hands off it but this is really about inattention by the trump team. I mean they put a rule in place and they sort of went off and pay no attention. You know certain certain agencies like treasury behind the scenes hoping to weaken this. And and that's what they did and so if you don't if you put out a bunch of rules and then you don't fall through on them. You're going to have a lot of questions over how they should be interpreted and at this point. They're so little clarity on what the administration was asking for. And what the executive orders called for and and what executive orders in the pipeline. That these That nyse in and a bunch of other financial entities basically said. We don't understand what's going on here and we're not going to implement them and they got soft backing behind the scenes from treasury not to implement them and so here you are. Everything is sort of falling apart in terms of some of these latest trump moves in the last days of the trump administration. Bring them back to what investors might be looking for. Is this a situation. Where manufacturing companies anybody. Who's making things that they're selling Either from china or to china. How is this going to play out. You have any ideas. I think that the biden administration has come in with severe restraints in terms of what they can do. They want to use political chits. They have on domestic issues. They they know that biden has had years and years and years of being called week on china when he was vice president. And so they're not gonna be able to do any heavy lifting on the china side particularly in the early days. So i think that from this standpoint biden wants to sort of he won't be able to pointing back he doesn't want to do a whole lot. And so you know you're going to be on a glide path at least until he gets both staff in you know three to six months from now but in terms of investment with china. This really has to play out. The chinese are certainly gonna come in and try to have a honeymoon. Period with a biden administration promising kinds of climate goodies. The question is who are going. To policymakers. That are gonna be in charge of china policy for for for the biden administration. And are they going to have authority within his realm in order to push back congress for certainly be at their backs but but this is some this issues. These china issues. That i think biden would like to ignore for as long as possible in his first six months. There are a lot of china hawks in congress. That would probably make that pretty difficult to ask. What what should we be watching. What are the key points or the key events. A lot of it has to whether whether cova continues to to suck all the oxygen out of the room you know code will be will be issue number one. But you're right on congress you're gonna you know you have some very fire. Republicans you also some fire. Democrats who who are who are who are quite animated on the china issue. There's a bipartisan agreement. Right now that china needs to be dealt with rather rather tough fashion. So i think that you're going to have a lot of pressure from congress. Which is why i think biden wants to have nothing to do with it. He's gonna let some a lot of some of the trump stuff glide he's gonna want to avoid the issue as much as possible. It's going to become harder and harder. As the beijing olympics comes into sight year and a half from now There is going to be a lot of push both domestically internationally to boycott the olympics A year plus from now and this is going to become extremely hot topic not yet but later this year and so i think he's got a pass for at least a few months but later this year. I think it's going to get a lot lot lot tougher on the environment on china again. I can't believe the olympics in beijing are only a year and a half or so away. A leland it's good to talk to you. We will see him

Alibaba China Chinese Communist Party Jack Biden Administration Ma Co Ant Group And Co Jack Ma Leeland Jack Ma Alibaba Leland Biden United States Becky Shanghai Nyse Boehner Miller Europe
"jack ma" Discussed on Techmeme Ride Home

Techmeme Ride Home

05:25 min | 3 weeks ago

"jack ma" Discussed on Techmeme Ride Home

"So what did we miss. Well over the break. The whole chinese communist party versus jack. Ma thing got even more interesting. China's market regulator suddenly announced an antitrust investigation into alibaba for alleged monopolistic practices. Yes this sort of thing can happen in china to. I guess because as far as we know. This is the first investigation of its kind in china's internet sector ever coating the financial times the market regulator said it was investigating suspected monopolistic practices including alibaba's tactic of forcing merchants to sell exclusively on its platform a practice known as pick one of two in china among other issues. The brief statement from china's state administration of market regulation said the investigation into alibaba had been opened. Recently after complaints ali. baba's hong kong listed shares fell more than eight percent in early trading. Alibaba said it quote will actively cooperate with the regulators on the investigation and quote and that its business operations remained normal. This is china's first antitrust investigation into a chinese internet company for abusing its market dominance said scott you and antitrust expert at jong loon large firm quote. In a worst case scenario alibaba could be fined up to ten percent of its previous years sales and quote lawyers said the initiation of a former investigation met the government already had some evidence to support its case regulators quote definitely have evidence but it is hard to say whether they will ultimately decide this constitutes monopolistic behavior and its punishment said you jin wa at shanghai deboned law offices and quote so this story continues to fascinate me because for years the communist party has allowed big tech companies to flower in china to show that china could match the west for innovative disruptive capitalism albeit with the special chinese communist party spin on exactly what that entails implicitly. I suppose it has always entailed the communist party. Always having the final say on what exactly disruptive capitalism entails and it's interesting to see them very openly pulling the reins on jack ma one of the earliest and highest profile of the entrepreneurial success stories in tech china alibaba was founded all the way back in nineteen ninety nine. It was china's most valuable company for a long time though. Suddenly no more alibaba's seen almost all of this year's stock gains erased over the past few weeks wants the hammer began to come down on. Ma it all began with the canceled. Ipo of ant group. The finance of alibaba. Also run by jack ma and this morning even more. China's central bank has announced. That aunt must overhaul its lending insurance and wealth management businesses and come up with a timetable to do so toot sweet quoting bloomberg. These central banks summoned aunt executives over the weekend and told them to rectify the company's lending insurance and wealth management services. The people's bank of china said and statement sunday while it stopped short of directly asking for a break-up of the company the central bank stressed that aunt needed to quote understand the necessity of its business and quote and come up with a timetable as soon as possible. The series of edicts represent a serious threat to the expansion of mas online finance empire which has grown rapidly from a pay pal like operation into a full suite of services over the past seventeen years before regulators intervened aunt was poised for a public listing. That would have valued at more than three hundred billion dollars with existing backers including carlyle and silverlake. The hung based firm now needs to move forward with setting up a separate financial holding company to ensure it has sufficient capital and protect personal private data. The central bank said authorities also blasted aunt for subpar corporate governance disdain towards regulatory requirements and engaging in regulatory arbitrage the central bank said aunt used its dominance to exclude rivals hurting the interest of its hundreds of millions of consumers and quote as dr trae. Who knows way more about china than i do. Said on twitter quote. I'm still perplexed why they decided to kill ant the day before its ipo. It seems like a genuine mystery to everyone whether this was crazy. Powerplay to show they can put the brakes on something as large as that with the of a finger. Or if they like just didn't really look at andt closely until i day and quote but it's not just about jack ma though. Isn't it quoting bloomberg alibaba. Group holding led a second day of frenetic selling among china's largest tech firms driven by fears that antitrust scrutiny will spread beyond jack ma internet empire and engulfed the country's most powerful corporations alibaba and its three largest rivals. Tencent food delivery giant matron and jd dot com. Have shed nearly two hundred billion dollars over two sessions since when regulators revealed an investigation into alleged monopolistic practices. Atma's sickness or company. That marked the formal start of the communist. Party's crackdown not just on alibaba. But also potentially the wider increasingly influential texts fear and quote

alibaba china chinese communist party administration of market regul elon Musk jong loon large firm Tesla Ma jin wa apple baba jack google special chinese communist part ali hong kong jack ma
After Jack Ma, Is China Freezing Its Entire Tech Sector?

Techmeme Ride Home

05:25 min | 3 weeks ago

After Jack Ma, Is China Freezing Its Entire Tech Sector?

"So what did we miss. Well over the break. The whole chinese communist party versus jack. Ma thing got even more interesting. China's market regulator suddenly announced an antitrust investigation into alibaba for alleged monopolistic practices. Yes this sort of thing can happen in china to. I guess because as far as we know. This is the first investigation of its kind in china's internet sector ever coating the financial times the market regulator said it was investigating suspected monopolistic practices including alibaba's tactic of forcing merchants to sell exclusively on its platform a practice known as pick one of two in china among other issues. The brief statement from china's state administration of market regulation said the investigation into alibaba had been opened. Recently after complaints ali. baba's hong kong listed shares fell more than eight percent in early trading. Alibaba said it quote will actively cooperate with the regulators on the investigation and quote and that its business operations remained normal. This is china's first antitrust investigation into a chinese internet company for abusing its market dominance said scott you and antitrust expert at jong loon large firm quote. In a worst case scenario alibaba could be fined up to ten percent of its previous years sales and quote lawyers said the initiation of a former investigation met the government already had some evidence to support its case regulators quote definitely have evidence but it is hard to say whether they will ultimately decide this constitutes monopolistic behavior and its punishment said you jin wa at shanghai deboned law offices and quote so this story continues to fascinate me because for years the communist party has allowed big tech companies to flower in china to show that china could match the west for innovative disruptive capitalism albeit with the special chinese communist party spin on exactly what that entails implicitly. I suppose it has always entailed the communist party. Always having the final say on what exactly disruptive capitalism entails and it's interesting to see them very openly pulling the reins on jack ma one of the earliest and highest profile of the entrepreneurial success stories in tech china alibaba was founded all the way back in nineteen ninety nine. It was china's most valuable company for a long time though. Suddenly no more alibaba's seen almost all of this year's stock gains erased over the past few weeks wants the hammer began to come down on. Ma it all began with the canceled. Ipo of ant group. The finance of alibaba. Also run by jack ma and this morning even more. China's central bank has announced. That aunt must overhaul its lending insurance and wealth management businesses and come up with a timetable to do so toot sweet quoting bloomberg. These central banks summoned aunt executives over the weekend and told them to rectify the company's lending insurance and wealth management services. The people's bank of china said and statement sunday while it stopped short of directly asking for a break-up of the company the central bank stressed that aunt needed to quote understand the necessity of its business and quote and come up with a timetable as soon as possible. The series of edicts represent a serious threat to the expansion of mas online finance empire which has grown rapidly from a pay pal like operation into a full suite of services over the past seventeen years before regulators intervened aunt was poised for a public listing. That would have valued at more than three hundred billion dollars with existing backers including carlyle and silverlake. The hung based firm now needs to move forward with setting up a separate financial holding company to ensure it has sufficient capital and protect personal private data. The central bank said authorities also blasted aunt for subpar corporate governance disdain towards regulatory requirements and engaging in regulatory arbitrage the central bank said aunt used its dominance to exclude rivals hurting the interest of its hundreds of millions of consumers and quote as dr trae. Who knows way more about china than i do. Said on twitter quote. I'm still perplexed why they decided to kill ant the day before its ipo. It seems like a genuine mystery to everyone whether this was crazy. Powerplay to show they can put the brakes on something as large as that with the of a finger. Or if they like just didn't really look at andt closely until i day and quote but it's not just about jack ma though. Isn't it quoting bloomberg alibaba. Group holding led a second day of frenetic selling among china's largest tech firms driven by fears that antitrust scrutiny will spread beyond jack ma internet empire and engulfed the country's most powerful corporations alibaba and its three largest rivals. Tencent food delivery giant matron and jd dot com. Have shed nearly two hundred billion dollars over two sessions since when regulators revealed an investigation into alleged monopolistic practices. Atma's sickness or company. That marked the formal start of the communist. Party's crackdown not just on alibaba. But also potentially the wider increasingly influential texts fear and quote

Alibaba China Jack Ma Chinese Communist Party Administration Of Market Regul Jong Loon Large Firm Jin Wa Special Chinese Communist Part Baba ALI Jack Hong Kong Shanghai Scott Bank Of China Dr Trae Bloomberg
"jack ma" Discussed on Techmeme Ride Home

Techmeme Ride Home

03:16 min | 3 weeks ago

"jack ma" Discussed on Techmeme Ride Home

"Ma did elon. Musk once try to sell. Tesla to apple. Drones are getting digital license plates of a sort and look at the generation of search engines. Startup hoping to you know maybe strike at google. While the antitrust iron is hot. Here's what you missed today in the world of tech. So what did we miss. Well over the break. The whole chinese communist party versus jack. Ma thing got even more interesting. China's market regulator suddenly announced an antitrust investigation into alibaba for alleged monopolistic practices. Yes this sort of thing can happen in china to. I guess because as far as we know. This is the first investigation of its kind in china's internet sector ever coating the financial times the market regulator said it was investigating suspected monopolistic practices including alibaba's tactic of forcing merchants to sell exclusively on its platform a practice known as pick one of two in china among other issues. The brief statement from china's state administration of market regulation said the investigation into alibaba had been opened. Recently after complaints ali. baba's hong kong listed shares fell more than eight percent in early trading. Alibaba said it quote will actively cooperate with the regulators on the investigation and quote and that its business operations remained normal. This is china's first antitrust investigation into a chinese internet company for abusing its market dominance said scott you and antitrust expert at jong loon large firm quote. In a worst case scenario alibaba could be fined up to ten percent of its previous years sales and quote lawyers said the initiation of a former investigation met the government already had some evidence to support its case regulators quote definitely have evidence but it is hard to say whether they will ultimately decide this constitutes monopolistic behavior and its punishment said you jin wa at shanghai deboned law offices and quote so this story continues to fascinate me because for years the communist party has allowed big tech companies to flower in china to show that china could match the west for innovative disruptive capitalism albeit with the special chinese communist party spin on exactly what that entails implicitly. I suppose it has always entailed the communist party. Always having the final say on what exactly disruptive capitalism entails and it's interesting to see them very openly pulling the reins on jack ma one of the earliest and highest profile of the entrepreneurial success stories in tech china alibaba was founded all the way back in nineteen ninety nine. It was china's most valuable company for a long time though. Suddenly no more alibaba's seen almost all of this year's stock gains erased over the past few weeks wants the hammer began to come down on. Ma it all began with the canceled. Ipo of ant group. The finance of alibaba. Also run by jack ma and this morning even more..

alibaba china chinese communist party administration of market regul elon Musk jong loon large firm Tesla Ma jin wa apple baba jack google special chinese communist part ali hong kong jack ma
Why China Turned Against Alibaba's Jack Ma

WBBM Morning News

00:27 sec | 3 weeks ago

Why China Turned Against Alibaba's Jack Ma

"Baba Baba Ali Ali Baba Baba is is under under is is investigation investigation under under investigation investigation in in China. China. in in China. China. Regulators Regulators Regulators Regulators want want to to know know want want whether whether to to know know the the whether whether company company the the company company or or or or its its founder, founder, its its founder, founder, Jack Jack Ma Ma Jack Jack violated violated Ma Ma violated violated anti anti anti anti monopoly monopoly monopoly monopoly laws. laws. laws. laws. China China has has China China had had has has an an anti anti had had an an monopoly monopoly anti anti monopoly monopoly law law law law for for more more than than for for more more a a decade, decade, than than a a decade, decade, and and and and it it can can be be it it used used can can be be used used by by regulators regulators by by regulators regulators to to do do almost almost to to do do almost almost anything anything anything anything they they want. want. they they want. want. And And Jack And And Ma Jack Ma right now right now is the is biggest the biggest target target in China. in China. China China expert expert Gordon Gordon Chang Chang Alibaba Alibaba is is the world's the biggest world's biggest e commerce e commerce company. company. By total By total sales sales volume volume

China Baba Baba Ali Ali Baba Baba Jack Jack Ma Ma Jack Jack Ma Ma Ma Jack Ma Gordon Gordon Chang Chang Alib Jack
China aims cracks down on Alibaba with anti-monopoly probe

WBBM Morning News

00:27 sec | 3 weeks ago

China aims cracks down on Alibaba with anti-monopoly probe

"Ali Ali Baba Baba is is under under investigation investigation in in China. China. Regulators Regulators want want to to know know whether whether the the company company or or its its founder, founder, Jack Jack Ma Ma violated violated anti anti monopoly monopoly laws. laws. China China has has had had an an anti anti monopoly monopoly law law for for more more than than a a decade, decade, and and it it can can be be used used by by regulators regulators to to do do almost almost anything anything they they want. want. And And Jack Ma right now is the biggest target in China. China expert Gordon Chang Alibaba is the world's biggest e commerce company. By total sales volume

China Ali Ali Baba Baba Jack Jack Ma Ma Jack Ma Gordon Chang Alibaba
Alibaba being investigated by China over monopoly tactics

Houston Public Media Local Newscasts

00:43 sec | 3 weeks ago

Alibaba being investigated by China over monopoly tactics

"The chinese government has launched an anti monopoly. Investigation into ecommerce giant alibaba. Npr's john lewis reports china's market regulator announced the investigation into one of the country's most successful tech companies with one line it was looking into conduct including a practice that the company allegedly uses to pressure business partners into not dealing with its competitors alibaba's founder jack ma has himself been under pressure in recent weeks after publicly criticising financial regulation in china the government last month abruptly suspended the ipo of ant group of financial technology company. He controls that's part of the alibaba ecosystem. Alibaba said in a statement its business operations remain normal and it will actively cooperate with the

Alibaba Chinese Government Jack Ma John Lewis NPR China Ipo Of Ant Group Of Financial
Apple Reportedly Booting Thousands of Video Games From Its China App Store

WSJ Tech News Briefing

00:34 sec | 3 weeks ago

Apple Reportedly Booting Thousands of Video Games From Its China App Store

"They've launched an antitrust investigation into the ecommerce giant baba and they'll seven alibaba's affiliate aunt group for discussions on competition and consumer rights taken together. The two actions mark the strongest enforcement moves by beijing yet against the country's biggest tech giant and its billionaire founder. Jack ma alibaba didn't immediately respond to requests for comment and group acknowledged that it had received a meeting notice from regulators and said it would seriously study and strictly comply with all regulatory requirements. The federal communications commission's ongoing sale of wireless licenses has garnered a record. Sixty nine point eight billion dollars so

Jack Ma Alibaba Alibaba Beijing Federal Communications Commiss
An Alibaba Beatdown

CNBC's Fast Money

04:48 min | 2 months ago

An Alibaba Beatdown

"Alibaba. Closing the books on a record shattering singles day sales event. The tech giant says gross merchandise value. Seventy four point one billion dollars over the eleven day event but check out what happened to baba shares in hong kong trade. They fell nearly ten percent following a massive crackdown on the company. By the chinese government. Deirdre bosa is here with the very latest on this story. Deebo well in years past melissa. Single day has been all about those huge numbers that show the reach of china's internet giants. This time though that may be seen as more of a riskier. Flex justice singles was getting underway. Beijing's antitrust watchdog put countries tech giant's notice issuing draft rules aimed at rooting out monopolistic practices. Now the news hits the biggest names. Not just alibaba tencent. Jd dot com as well in hong kong by between seven and ten percent in. Just one session now. Alibaba is you know has already been under pressure. Since aunt groups halted ipo. The fintech also faces a changing regulatory landscape. More broadly guys regulatory pressure could be signaling. A new era for chinese tech. Not unlike what we're seeing for our own. American tech companies alibaba president michael evans told me earlier today. That transparency will be key. We need regulatory transparency. So that investors the company regulators. Everyone else can see the transparency and understand the rules by which the game will be played. That's where we're at over the last decade or more. The giants have been seen as national champions evidence of china's tech prowess surpassing even their american counterparts by some measures like users and growth. But now melissa. The draft rule suggests that beijing thinks that they have become too big and wants to rein them in perhaps giving a new crop of companies a chance to content back over to you all right deirdre. Thank you deirdre bosa for us tim. I'll go straight to you on this. I mean it was once thought that as national champions firms like alibaba and by intense they were backed effectively by the chinese government. And here we are in a very different position which violators of that. New regulation could be forced to divest of assets of intellectual property A whole host of measures. That would be very punitive so Deebo brought up a pretty good point also just that this anti regulated. This is the doj quivalent. We should say what that's meant for. Companies in our country mega cap texas Largely been nothing. But let's be clear about that As a guy that's invested in emerging markets for a long time and has seen governments dismantle companies. It got too big or too influential whether it's oil companies in russia whether it's been power companies in brazil. The national champions in china are just that i think the regulator has to evolve on the fly. I don't think they're gonna be telling these companies apart. And i think this is an opportunity. Remember china wants these companies to be global and dominant and they want them to work with the next wave of chinese tech companies. They're coming and yes they'll be competitive Influences but i think this is an opportunity but still the context of this is that these tech regulations came a week after the government forces suspension of the ant financial ipo karen which forced you as an investor in alibaba to actually reevaluate because it. It changed the rules to the point. Where aunt may not be as valuable as it once was. I think that's true. I think aunt will be unlikely in the short term to be as valuables. It was the very best cases. there's no new regulations. I don't think that's the most likely outcome. But you gotta think about how far the stock has fallen. And i think you know i agree with just about everything tim said of them. Being national champions. I think they're trying to this is really a spanking for jack. Ma and i think that ultimately i don't know how much of a difference it'll make in their in how powerful they are so when i look at how much the stock has come down if i own none. I would buy it right here. I don't own none. I own a fair amount. So i didn't add today. My next by next action probably would be to add. And i think that i don't know how long it's gonna take to resolve this but in my experience. Panicking on news like this has never been the right thing to do. So maybe this time it is the right thing to do but we look at what happened with the the internet companies. The gdp are we looked at having the antitrust with google stock traded up. We look what happened with facebook. Stock traded up. So i'm not gonna panic out of it. I may be the last one out when they dismantled the whole thing. But if i owned on abide here

Alibaba Chinese Government Deirdre Bosa Deebo Alibaba Tencent Fintech Chinese Tech President Michael Evans China Hong Kong Melissa Beijing Deirdre TIM Giants DOJ
Jack Ma's terrible week

Bloomberg Businessweek

03:07 min | 2 months ago

Jack Ma's terrible week

"You are listening to Bloomberg. BusinessWeek. Now a big story over the past week. You We talked about it A lot on air is the Chinese government blocking what would have been the world's largest typo? We're talking about Jack Mas and Financial as Bloomberg New Economy editorial director Andy Brown right this week in his column, those business leaders who take risks and push the limits. In China. They definitely pay a price. And it is also very telling about China overall, and he joins us on the phone in New York City and good to have you back with us. We've talked a lot about this, but your column I really think is very thoughtful again and it gets into when big Chinese leaders You know when they speak back or speak out against the Chinese government. There's a big price to pay in these two leaders in particular you highlighted they have paid a big price. That that that that that's exactly right. I mean, you know what this whole episode is telling us is that when it comes to business in China politics is in command and won't be tied. The private, effective leader who does to speak back to power, and that's exactly what happened in this case, and you know it is. There's a bigger question here around innovation and spirit in China. I mean China's way past today is when it can copy in scale. It is operating now, with the very frontiers of technology. It needs Aiken class. It needs rebels. It needs disruptive. And you know, Jack Ma. Personifies allow all of those attributes. This is a guy who pretty much single handedly resolved. The issues that enabled e commerce to take off in China was an issue of trust people didn't trust Putting their credit card numbers out onto the enter. He figured out a payment system around that economists off course, and we know they know one of the key drivers of the Chinese economy. He wants to do the same and eaten Fintech, and he's just being sat on. And you talk about also what you say is China's most celebrated movie director talked to us about a very similar experience that he that he came up against in terms of China. It was. It was interesting parallel case, and I was trying to, you know, compare and contrast with detail. They're actually quite similar. This was in February last year. Johnny, Mo China's most famous Movie director. I mean, you know, artistically sublime. The guy who actually put on the opening and closing ceremonies off the Beijing Olympic Games. He had a movie coming out, called one second. It was about the culture revolution. It was due to be screened at the Berlin Film Festival two days before the screening his production companies for technical reasons they were pulling them. They were pulling the movie. Clearly it was a question of, you know off censorship, So you know he's spent the last. I don't know how many months recutting this movie so that it will get through the Chinese censorship regime instead of moving on to his next triumph, his next movie, you know, he's he's They're busily satisfying the cultural saws. Who have the final say

Chinese Government China Jack Mas Andy Brown Jack Ma Businessweek Bloomberg Fintech New York City Aiken Johnny Olympic Games Beijing Berlin
China postpones Ant’s colossal IPO after closed-door talk with Jack Ma

All Things Considered

02:42 min | 2 months ago

China postpones Ant’s colossal IPO after closed-door talk with Jack Ma

"American markets are not, of course, the on ly markets and Chinese investors had been planning something of a celebration this week, the world's biggest initial public offering ever. To be set in Shanghai and Hong Kong, the company going public and I think we mentioned this last week is Ant Financial, a giant in Chinese fintech financial technology. That was the case until this morning. That is Chinese regulators kind of out of nowhere suspended. The I P o not happening at all. Not clear what's going on. But his marketplaces Scott Tongue reports. What we do know is that the Chinese government is still very much in charge of the world's second largest economy. Aunt group is no small insect in the Chinese economy. It's phone APP is used by 700 million people. Martin Short's MPA is with the Peterson Institute for International Economics in China. They don't use credit cards. They link their bank account into this digital wallet, and then they scan barcodes everywhere to pay for things. They can also shop online through it taken by gold and investment products. Get loans get insurance two weeks ago and controlling stake holder Jack Ma blasted Chinese financial regulators for red tape and for not understanding companies like his into many, Jack Ma crossed a line and the government is assumed to have struck back by freezing the AIPO for now. China market analyst Fraser Howie is the author of Red Capitalism. The status pattern made by the party is proud of me. Even though Jack's a member of the party business cannot be devolved from politics in China. Social media in China is now filled with cracks about Aunt's getting crushed in this old movie clip of Jack Ma, playing a kung fu master apologizing to the cops always says The lesson for international investors is beware of the China market in the interference of the state. Imagine, he says, You're like the risk manager at some $100 billion Midwest Pence and fund and last week, someone said, we've got again to China. Look what's happening. You're gonna turn around and say, turn around and say no way. Another cautionary message has to do with Chinese innovation, Martin Zampa says in the US it's normal for a tech CEO to tell Washington bureaucrats to back off. But when Jack Ma says that in China he's put in this place. The pendulum continues to swing towards control and away from the freedom. Which encourages innovation, he says Chinese authorities fear that Aunt group could make borrowing too easy and put the financial system and risk. I'm Scott Tongue for marketplace.

Jack Ma Ant Financial Scott Tongue Chinese Government China Aunt Group Peterson Institute For Interna Fraser Howie Martin Short Shanghai Hong Kong Midwest Pence Martin Zampa Aunt Jack Washington United States
Jack Ma's Ant Group: World's biggest market debut suspended

Bloomberg Businessweek

02:54 min | 2 months ago

Jack Ma's Ant Group: World's biggest market debut suspended

"The top of his report about really? What is our top story are most red Story number one. On the Bloomberg terminal about China, suspending the Shanghai and Hong Kong debut of Aunt groups $35 billion offering. It was supposed to be the world's biggest IPO was supposed to happen Thursday. But it's not you knew about it. Thanks to Bloomberg New Economy editorial director Andy Brown. He's written and talked About how Antz biggest obstacles maybe the Chinese government and he is with us again on the phone in New York City, and I am so glad you're here. You know this headline hit and I think for a lot of people, it was a bit shocking. But you did write about this and kind of gave us all a heads up in a column he wrote last month. Why is it though China is doing this. You know, Jack Ma has always had an uneasy, ambiguous relationship with Chinese authorities he wants with his famously quoted saying, Love the government. But don't marry them. In other words, keep your distance, and regulators have never quite known what to make of Jack Ma. On the one hand, they look at him as the big opportunity. He's clearly a disruptive He's bringing a lot of small and medium sized enterprises into the formal economy. Putting capital that way. On the other hand, there's always being the sense among regulated that he's an accident waiting to happen. They haven't been able to decide and yesterday or today, rather They did. They decided that he's too much of a risk. And they're reining him in well. And why wait, though? Kind of to the 11th hour. You know, Andy, this is obviously a company that they've been looking at for some time. Why is it You know, is it just because Thie AIPO finally said to them we've got we've got a really now look at this more closely and maybe do something about it. Well, he made me He made a terrible a terrible political mistake. It was at a conference recently in Shanghai lit into Chinese and international financial regulators basically called them all a bunch of rusty old folks holding back innovation, stunting the dreams of young people. No, not under not understand. He said that the Basel accord with an old people and old people, he said banks in China were basically had a had a pawnshop mentality and settle this at a conference where the headline of the keynote speaker with one Cheap son He's one of the most powerful man in China, formerly he was the anti corruption czar. It is also one of the godfathers of the Chinese banking system. And once she Shawn's line at that conference with completely opposite his line was we have to be cautious. Safety First and Jack Mark comes in and says, We gotta rip it all up and start again. Long Qi Sean. Obviously, his arguments have won the day. Yeah, I

Jack Ma Antz Chinese Government Bloomberg China Andy Brown Shanghai Hong Kong New York City Andy Basel Jack Mark Shawn Long Qi Sean
Regulators Squash Giant Ant Group IPO

KNX Morning News with Dick Helton and Vicky Moore

00:36 sec | 2 months ago

Regulators Squash Giant Ant Group IPO

"Moto. Well, tryingto regulators making some moves against Jack Ma, China's wealthiest man who serves as chairman of Alabama Group, the so called Amazon of China. Alabama owns about a third of a stake of the Chinese Fintech company and group. An ant group was set for the biggest tech stock offering ever later this week. Now China's apparently blocked and groups $35 billion share sale in Shanghai and Hong Kong. This move coming after a Chinese regulators warned the Jack Mas company faces increased scrutiny and will be subject to the same restrictions on capital and leverage as banks. We see Alabama shares down 7%. On

Tryingto Jack Ma Alabama Group China Alabama Amazon Jack Mas Shanghai Hong Kong
Ant Group to raise $34.5 billion, valuing it at over $313 billion, in biggest IPO of all time

Bloomberg Markets

03:30 min | 3 months ago

Ant Group to raise $34.5 billion, valuing it at over $313 billion, in biggest IPO of all time

"Jack Mas and group It's expected to raise about $34.5 billion through an I P s right in Shanghai and Hong Kong on here's a little perspective for you. That's about the same valuations. JPMorgan Chase four times larger than Goldman Sachs. How about that? Let's get more on this company and why it's cornering so much attention, and it's rolling the global financial landscape. Bloomberg News deals reporter Crystal seas with us. She's on the phone in New York City. Crystal good to have you here with us. I mean, this is a blockbuster. Yeah, it's the biggest Theo As we expected. You know, a Ramco last year to be the big hero turned out to be a 29 billion dio. And in here we come 35 billion, so this really would be the biggest deal. It would be a monster deal. Why do people want to invest in it? Where's the appetite coming from? This's a story of a very much for player in the fintech space and all these impact player. It is a competition like that in this papal pasta then, but a plus the J. P. Morgan Really. It has a lot of influence in China because somehow take over the shares. Market shares. Traditional banks Path popular in China. And Ollie paid, which is the product that and operate with. It's probably the biggest player in China, so I mean that it's on Alone just share volume that they process gives them the valuation and this race that they could justify So Krystal is it a company that will continue to dominate in China and in Asia specifically or did something a company that we're going to see spread throughout the globe? Ultimately, Interestingly, 40% of the use of proceeds is actually going to be used for overseas payment extension on DH, although that's sounds like they're expanding out of China. Very much focused on Chinese customers. What it really means is that they will try to extend into merchant In in in places where Chinese tourists like to visit like, You know, when you go, too, I guess like the husband yard. When you go to Paris with me, you will feed a luxury stores with on Ali pay Q R code so That is that is what they want. That's what their expansion is focusing on. But it's very much so a China Pacific play and not even within Asia is very much a China. People play well on Krystal. It's also a Chinese listing. I feel like it's not lost on any of the US any of us that this wasn't a US listing. They're not on the nicely. They're not in the NASDAQ. They II Po'ed in Hong Kong and Shanghai. I'm assuming in large part because of the scrutiny Chinese listed firms are under here in the U. S. But How significant is it that this thing did not price in New York City? He has the biggest. Whoever is not a U. S listing is also is the Chinese company that is listening in China and Hong Kong that the concurrent listening It's interesting. This has not been done before. Some companies have tried Teo a simultaneous thing. And will be the first to pull it off. But more importantly, Andi Ali pay and we have. Hey, we're under White House scrutiny just last month. White House is trying to ban both products and the US So I think that just that also explains why us It's not a friendly environment for this idea. Yeah, are we expected to see in a tiara at any point? It could happen, but with 35 billion. I don't think that is the immediate next after them.

China Hong Kong Andi Ali New York City Shanghai Asia United States White House Goldman Sachs Jpmorgan China Pacific Jack Mas J. P. Morgan Crystal Seas Ramco Bloomberg News Ollie Paris Reporter TEO
SoftBank's Son leaves Alibaba board following Ma's departure

WSJ What's News

00:31 sec | 7 months ago

SoftBank's Son leaves Alibaba board following Ma's departure

"We begin in Tokyo with a story involving two of the most powerful entrepreneurs in the world. Masayoshi Sun CEO of the Japanese technology conglomerate Softbank announced today. He stepping down from the board of Chinese ECOMMERCE giant, Alibaba his departure comes after it was revealed last month, Ali Baba's Cofounder Jack Ma was leaving soft bank's board Softbank has come under pressure for investments in troubled startups, such as we work in

Cofounder Jack Ma Alibaba Ali Baba Softbank Tokyo CEO SUN
Behind the scenes at the humanitarian air hub dispatching COVID-19 aid to African nations

UN News

05:40 min | 9 months ago

Behind the scenes at the humanitarian air hub dispatching COVID-19 aid to African nations

"Face mosques a million of them just some of the precious cargo being dispatched to all corners of Africa by the UN as the continent braces for the spread of cove in nineteen managing. This huge task is Amanda Dowdy Senior Director of Operations for the World Food Program will WFP in online interview with you. An uses Daniel Johnson Jordanian national. Mr Dodie takes us behind the scenes at the agency's humanitarian hub in the European capital. Addis Ababa where a U N Wide Supply Chain. Operation is now in full swing. The flights game some came from China on some came from Dubai. It was a combined shipment of Jack Ma Foundation and who own supplies? They arrived in Addis on Tuesday and from there we are moving only consignments to almost fifty countries across Africa so far we have moved up to thirty countries and every day we are completing that consignment right so on the ground then from Addis Ababa. You've reached around thirty countries as you say what's the the final figure Africa now if we African country which ones have called for help. And how is the decision taken about which ones are helped look going to all the African countries in accordance with ovulation in accordance with needs? But the most in need are where the number of cases are flaring up. We have cases in west Africa in Senegal as well as in southern Africa and flights. Today just give me a picture of actually what's happening on the ground in Addis at the humanitarian hub. Everything is working. We allocate the basically parcel or or kit the cargo in accordance to fly throughout that we have so the lanes will depart at this angle to multiple countries. Come back and pick up again. Another would go to multiple vendors. Of course we're using several airplanes in order to reach a maximum. I think today the plan is for thirty countries to receive the locations today and what particular protocols are in place to prevent caveat nineteen transmission. We follow all the procedures in terms of the guidelines of w the national health guidelines. That are in place the social distancing but we also are in a way in even when we transfer Scott Every manager in place including spraying the planes in short that there is no cross contamination even from parcells coming so we follow according to a yet according to Keio we are abiding by these owes to the letter in terms of what happened today when it reaches the country in question. How is the aid distributed? And how you show that. It's getting to where it needs to go. It's the handed over to the Ministry of of the Spectrum Authority of the member states. It's not exactly going to UN agencies or NGOs this is going to member states and the government authorities W in coordination with the local government authorities ensures that all the aid or assistance in terms of medical supplies goes to work. It is neat. Could you say this is an historic sort of arrangement to show solidarity in terms of keeping supply chains going because the secretary general has expressed a lot of concern about global supply chains when code actually hits because yes African countries that have been affected already? But it's really nothing compared with what is going to happen. This was the first flight from Addis. Ababa it was the first test for the international hub as transshipment on to the rest of Africa but also in terms of passenger because as part of our response to call with is a neighboring humanitarian and the health responding to reach the countries. And we are going to be using episode for establishing passenger service again to East Africa would be establishing multiple bessinger services. Because as you know commercial air traffic is moralists suspended so we will be establishing these passenger services to ensure that responders humanitarian workers and all the personnel needed to mitigate a fight. This virus can arrive in countries where they need to and they can also leave where they need to go so we are enabling the humanitarian and responds. To be able to mitigate against this virus. This is Africa. Were talking about. So how is the World Food Program helping places like Yemen? Syria Wall Art of the hub. Will also be providing. It's not only for Africa. It we will be using part of the others as well or Yemen for example but this is not the only in Africa we would have one enact ca one in this above and one in South Africa we have a hop ensue bank in Malaysia for Asia and we have a hump in Dubai for the Middle East. And we have a hub in Panama for Latin American for Central America. So these are all going to be coming online as we speak and they would serve as the respective regions both in terms of cargo as well as in terms of personnel the eventual aim is to help ninety five countries in total all. Actually probably it's GONNA reach almost Henry Than Twenty affected countries so we have the capacity to scale up as needed of course if the funding is provided of course and. How much funding do you need? You're asking what three hundred fifty million dollars. How much do you have so far? We entered sixty was initial request. Now we are revising these figures depending on the data that we are getting supplies. As the sourcing and manufacturing increases we will be increasing our air assets in order to make sure that the supplies getting time to the affected countries enter the countries that needs.

Africa Addis Addis Ababa UN Dubai East Africa Yemen West Africa Daniel Johnson Mr Dodie WFP Amanda Dowdy Senior Director Of Operations South Africa Jack Ma Foundation Syria
Alibaba's Singles' Day sales hit record growth

Bloomberg Markets

08:12 min | 1 year ago

Alibaba's Singles' Day sales hit record growth

"Yeah let's switch gears it's going to Ali Baba you know the huge E. commerce company coming out of China they have what's called singles day over there where it's a big one day online sales push a set a nother record today to get some color on that let's welcome Alex web so Alex tells a little bit of from Bloomberg news Alex also the bit about kind of what you know so far about the singles day from Ali Baba well I am well she says will be opinion and about about busing those days a kind of concocted holiday that was invented by students in China sort of in the nineteen nineties to celebrate that single them and it was very much coopted by Ali Baba and Jack bought the the the founder and CEO outgoing C. A. who made it much like cyber Monday or Black Friday all in the U. S. started making a big day when lots of people spend lots of money and ideally spend that money on Ali Baba's economists Nick properties and DCA X. beating the pace of last year which you would expect to generate the trend is towards E. commerce so far eight eight billion neck two thirds of the if the data beaten the number for the entirety of the day lost yes I the pace seems to be getting on the click the reason this is important or interesting is that is concerned about Chinese great Chinese economic growth is slipping below six percent that's the lowest in in some more than three decades and so does some sort of read across the people are looking at just to see whether they can infer anything about the appetite from Chinese consumers from the numbers that come out of sync so can we infer anything because the I know that Alibaba was was talking about this record hall from the Ali Baba from the singles day sales and yet we're getting other data in particular I PI the gives a conflicted picture yeah I mean I think that is ultimately issue alley Bob would like everybody to say that if it's if it's a Greco number that's great news for them is going to try to the thing is it's a gross merchandise value essentially how much money in title has been spent across these properties we don't really know what might have pumped up that might have been special offers two for one you know does the value of the things actually great or was it just a valid to spend is great teen if you're offering discounts then you might be getting your view you'll kind of incentivize people to spend more money on it now Ali Baba it is probably more relevant to them as they look towards you know selling us a steak on the on the Hong Kong stock exchange and I'm baffled get himself a huge amount of attention in the run up to that so yes I think any any line that is drawn to to Chinese growth figures is Nick given what and how it is a record number forty gave it a bit of a sketchy correlation if there'd been a decrease than you could clearly in for something more significant defeat the pace of growth that been slow than is absolutely fine line you could drawn from it but that isn't the case is so it's a little hard to to draw those in correlations tell us can you give us a sense of how much Ali Baba is consolidating the shopping industry on its platform the same way that Amazon is doing in the United States well I mean the more I mean Bob is trying to do is actually extend beyond the shores of China you know it's trying to get people a personal lease across Southeast Asia and increasingly with some you know more financial offering senior using and it's sort of Alabama financial arm to to get people outside of its core markets to come and join its platforms which is you know perhaps indicative of maybe slowing growth in China release harder to get the same pace of as before and it's extending into new fields food delivery those sort of things that those sort of affects all really the the the new pushes firm from Ali Baba last on the kind of classic economists are rolled up that we've seen with Thomas and market places a fourth was wearing wild yes outside of one of the areas that we hear from some other big tech companies you you know like an Amazon is the cloud business and I know Ali Baba had has made some investments there and help how big the businesses that getting for Ali Baba but I mean it's nowhere near the size of Amazon's I actually don't have the number to hands of what how big Ali Baba's is right now you know they also pushing that outside of China but it's they kind of have had have advantage in that you know in the home market it's harder for someone like Google Amazon always mark soft to advance that dag that cloud offering that given there is a preference to used to use home competitors if it'll possible yeah I got to say these manufactured holidays wow you know I mean this whole idea of a Black Friday and cyber Monday in singles day how successful are they Alex I think that they'd look big because he's a success and Ali Baba's case because you know they have good people can use that that forms and use that for do they have to give really serious discounts in order to lure people or is it just you know alright it's singles everybody go buy stuff I think that it is to get the growth I think it looks like they have to do that you know people have been doing a reading doing for years they gonna come back into it again and again but as with any sort of new products to when he when you when it's early days it drives huge amount of growth and never to be a certain point that great sauce a tape and then you start have to be a little bit more creatively seen at least with the iPhone you know apple as fine you ways of getting people in and and offering you know sort of trade ins and discounts that sort of thing so I think it's been a success weather constraints assesses different things Tim kopen our colleague in my colleague and bring back pending in Asia and make the point that I actually given the Jack ma is stepping down it might be an opportunity for Ali Baba to make something of a reset to sort of say what do we need the singles dating anymore we can move on from it and actually it's his baby and frankly it society misguided thing difficult measure to actually you know tell anything serious about the business beyond just paying a lot of tension a company for one day when we don't really know if it has any significant impact on that bottom line and the indications are that it may be doesn't Alex mentioned earlier that Ali Bob is considering a I guess a listing on the on it Asian exchange there in Hong Kong what's the status of that is that still on as far as we know yes there was all our colleagues have the scoop last week that they were pushing forward with a a plan to list fifteen billion dollars worth race fifteen bought billion dollars were on the Hong Kong stock exchange the had to have been in serious doubt initial plans for that to happen over the summer and of course there's a huge amount of uncertainty in Hong Kong right now with all the demonstrations and so that was one of the reasons why it is being put on the back burner for just a bit this is an endorsement all of the you know the validity of being on the stock exchange one of the reasons that historically Chinese companies haven't listed in Hong Kong is because the Hong Kong stock exchange have the same rules as the British want namely one shot one site and they change those rules in recent years in order to attract the likes of Ali Baba the likes of ten cent these Chinese behemoths to have taken the listings to connect in the form of American depositary receipts logic and so this is an endorsement of of the fact that the Hong Kong market is a valuable one for them and that despite you'll be incessantly they still see value in your selling sending us a chunk of that business that Alex what thank you so much for being with us Alice what about columnist with Bloomberg opinion joining us from London on singles day a raging success for Ali Baba questionable about what that means exactly for the broader Chinese consumer but none the less it encouraging sign up for some meanwhile it is important to just note that the Hong Kong violence was escalating and I did it it didn't push down the Hong saying index by about three percent people getting very concerned about what would happen in this stems from I ate the solidification of the control over the the territory and you had of course Beijing coming out and saying that only a patriot would be able to run the city just furthering escalating attentions there so a lot took to

Ali Baba China One Day Fifteen Billion Dollars Billion Dollars Three Decades Three Percent Six Percent
"jack ma" Discussed on Steve Forbes: What's Ahead

Steve Forbes: What's Ahead

04:58 min | 1 year ago

"jack ma" Discussed on Steve Forbes: What's Ahead

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"jack ma" Discussed on Steve Forbes: What's Ahead

Steve Forbes: What's Ahead

07:33 min | 1 year ago

"jack ma" Discussed on Steve Forbes: What's Ahead

"And it is important it is important there are a lot of problems but there's ago he said the microchip should do the human brain what machines did you have some ideas on how we can educate differently because we don't all learn what you sit in a classroom received the wisdom actually the modern system into good soldiers and good bureaucrats following orders when you look at the the philosophers they didn't sit in classrooms you see that they I think this just retied I think next year I have five years so I got our ideas but STU mead another year to think at a Salou wisdom you only learn from life and tough life but life is about experienced and the other thing very it's more bad callosum young kids the way the get or mass is important physical team but if you're interested in that that's very important but music and because we sing with those people seeing you want people when you have though the music you know solve the problems where your face the way of dancing the rhythm so these are to do more things on that giving the case studies of failure companies the mistakes we made how many companies bankrupted why they bankrupted going to business going to refute the only those people loyd mistakes but where you know where meat these mistakes you know how to face it pick-up where you're gonna be personally giving out the first Alibaba Net preneurs award Aston enabling that continent to realize its full potential and I think anchor premierships very enterpreneurs make them to heroes four years ago before when there I know so I visit every country in Africa so I visit thrive countries at least enterpreneurs I went to Kenya a met some of the young interpret this the thing is that the enterpreneurs in Africa so different from most of the country's inch Africa they want to change their lives I have the money I've the resources and I want Lim buffets most Steve's.

"jack ma" Discussed on Steve Forbes: What's Ahead

Steve Forbes: What's Ahead

10:42 min | 1 year ago

"jack ma" Discussed on Steve Forbes: What's Ahead

"Thank you talk to more than these plus mess car the technology is not about transactions not about the money is about a credit the top to the bottom rich people first and then put people but benefit from it so this is a very inclusive with few that the financial difference between Fintech and tech thing think tech is to the people have the rights to reach the money they need not every financial system they well we with you proud about you make a very good point about describe your three one system of lending you pay the technology to make happen is that in for almost sixteen years things the first day to now we ah every day but we do it with deal it we don't have even we do not call it artificial intelligence I we call it a Alibaba the reasons but where you hate somebody there's a reasons where he wanted to do bad no matter how smart you are if you think about the ten ways of cheating you cheating Musudan knows you're cheating so in this way we're protecting I trust machine more than trust the people I give my data to the good things or bad things so we using the machine technolog- and the past two years and you can borrow money for a minute you can bottle one minute you can follow one dollar that scared how much money will give one second the money will be account zero people touch minister of small business longs problem one of the because they already think they know what they're doing walk us through that convince US successful people I tried to convince those people who want to be successful festival model in America so they do the thing for for me they think they're successful and we start to do that too convincing using those people who want to be successful you work with them grew trust the young people I trust the more young Oh x. part of a future there's only expert of yesterday Kim with most of the success people they only talk about yesterday Alibaba you've said you want the company which is now about twenty years years we get you into the twenty first century you'd spend three centuries a good thing but one of the things you felt calm about in terms of stepping down your insights and how does a company create a culture I think most of companies get easily get owed but never get long one of my venture capitalists he talked to me is a Jack I don't think you're qualified the trump company was in trouble one day our live sing that they start I should prepare for my retirement because if I really believing one hundred two years that's the mission that's him a system the the have the right leaderships that can create can make an discover king we designed our partners how did that I went to one of the famous American companies Asia on that they all come back and Oscar their lawyer what do you think lawyer said.

"jack ma" Discussed on Steve Forbes: What's Ahead

Steve Forbes: What's Ahead

10:57 min | 1 year ago

"jack ma" Discussed on Steve Forbes: What's Ahead

"This is what's ahead amherst giant Alibaba Monez company have done more to encourage small businesses poor we recently had her global CEO Conference where he received the Malcolm Forbes lifetime fix that you'll be keenly interested in but first what's ahead findings about what was behind the Russian collusion investigations there the Labor opposition party is a man named Jeremy Corbyn an extreme but because the peculiarities of the Labor Party Constitution they can't remove them it'd states south of the border plenty of worrying things are happening highest standard of living in Latin America it is a developed country yet what's behind these riots well people are upset about subway the undermines democracy and center and right of center forces in survives in Chile democracy returned in the nineteen eighties after fifteen as as vice president the new president picked the former president of Argentina a couple of weeks ago there was a huge battle between the drug cartels and the Mexican very pessimistic but look what's happening in Mexico with the rise of hello who leads the Opposition of Felony Gaunt's has now been tasked to form a government there's precedent for this in Israel where the two leaders agreed to switch the office and yet another election the third in about a year here at home third quarter numbers showed the economy's slowing large because of a slack off in business the future and but before we get into the next chapter of your do a full cover story on you when you're just getting underway that the time you here is not just a company success but you empowered business to business business to consumers and enabling businesses to expand you did it in a way where they didn't have to go to the national banking enabled you to judge very quickly in a way that others could not who is credit worthy and who skewer one of the greatest liberators history enabling people who wanted to do things do commerce you defeated jet Li and a martial arts contest I alice about it just a movie and I tried to make safe from martial arts so I WANNA show my respect to those players the attitude that I win all of them so that's fortin but before we get to your new role as a fulltime philanthropist she should give you you won't get it but you should get the Nobel prize maybe we have MICR owner took this honour well when when not Jack Ma helped so many people it's the enterpreneur also very very important is that we believe technolog- we're help I'm playing we don't play with think about complaining of the other people because we believe in there are so many small business don't know when and how just we know if we don't have a payment our ecommerce just talk no way so we built up the logistics system and shooting some every small business can using cloud computing Internet about what we can do to solve the social problems instead the lives because the efforts that we work together and and is eating people if we can be successful eighty percent of the Chinese if we have a long vision if were day and night we'll make it.

White House deliberates block on all US investments in China

CNBC's Fast Money

12:15 min | 1 year ago

White House deliberates block on all US investments in China

"Administration is considering blocking investment in China that includes possibly delisting all Chinese sauce from US exchanges. Those headlines sending stocks sharply lower today. Let's get the latest on this developing story. Even Jaber's live at the White House with the details ain't yeah Melissa that's right. I'm told that those was headlines. That crossed earlier today. Those are accurate headlines. That's what got the market's attention they are considering some measures behind the scenes here at the White House to stop US US investors being able to invest in Chinese companies in one way shape or form or another but they're they're very early on in those conversations is my understanding. There's there's no time line at this point for any fundamental decision. All of this is framed in the in the guise of investor protection. The idea here is that there's a concern that there are some Chinese companies that may be listed in the US that aren't exactly what their purported to be because of the accounting standards and other other differences between the way the two countries countries handle corporate disclosures so that is being discussed behind the scenes. It's not clear there are a lot of options not clear where they're going to land or when that decision is coming one model all for it might be the piece of legislation that Senator Marco Rubio and others are considering up on Capitol Hill they've talked about that in the past the idea there would be they would delist companies unless they conformed more stringently to American securities regulations those Chinese companies would so that's one proposal but Rubio's office told CNBC this afternoon they have not been in direct contact coordinating with the White House on the proposals at the White House is working on so that's a separate idea that it's moving on a separate track but it gives you a sense of where this might land ultimately it's still dvd though would this have to come from Congress Ayman or a vote by the the SEC or I mean how can administration force exchange to decide what their listing standards are it it. It really depends on what they decide to do right. some of those ideas like you're talking about would require. Congress to pass a law and that would mean they'd have to get the White House would have to get support from Democrats adds to do it because Democrats control the House of Representatives so in a contentious election year that might not be as doable there might be other smaller more regulatory changes that they can Hindu on their own I'm told that the mechanics of all this are still being discussed and they don't have a particular plan for how to roll it out yet because it's it's still very early on okay amen. Thank you very much aiming. Java's there's Sony ways to go but what is definitely clear is the reaction that we saw in today's markets markets. We had a lot of the Chinese. ATF's dive lower closed session lows a lot of the Chinese stock did the same a lot of sort of the trade war poster. Children stocks like semiconductors took a further leg. Laura's it. The Micron News Wasn't enough and close on the lows of the session. So where do you go with this year. It won't mean if this isn't a I don't know what this is number one however if it's an Goshi hitting tactic tick as we get into the October date whenever that is the tenth or so when the two sides to sit down. It's pretty high stakes game of poker there now. I think they've been fit rumblings about this over the years. I don't think it's ever been considered all that serious but again in negotiating tactic. I think you have to be worried but I'll say this. If you told me at eight thirty this morning that these he's headlines would come out and say guy. Where's the market and we say well given the run. We've had given the backdrop of everything yes and he's going to be down. Fifty sixty handles souls Nasdaq semi down one fifty and we're going to end the bond market is exposed the upside none of that really happened again. It speaks to either the complacency of the broader market or the strength and resiliency of it now. I say it's complacent but I can understand the bull case that it's strengthened and relative strength given the rest of the world. I I think it's probably resilience probably all those things but it's probably more resilient. It's probably not getting ahead of this and the fact that this probably could never happen. I don't think you can D- list I all of these names. I don't think it's going to happen but when you look at the end of the month the quarter would you look at where it's seven handles above negative on quarter. We bounced back dramatically from the middle of the day. That's impressive. That's true and we did bounce back right off the fifty day almost to the number number so I think there are a couple of things to think about here number one just think about the MSCI indexes for example. You know a lot of our clients a lot of clients in general they get exposure to international all stocks emerging markets via that track that index so you think about em for example you're talking about a thirty percent exposure to China and that's been systematically going up as MSCI STI has been increasing the exposure to China so that's important as far as the broad market. I think we're probably range-bound quite honestly and to your point about the market we're covering today. I think a lot of it comes down to positioning as well as sentiment I keep saying it again and again on the show and I probably sound like a broken record but the FTC positioning second week in a Arro- net short a I will bear survey flip negative so bears outweighing bull so I think it doesn't mean we can't correct doesn't mean there can't be volatility but I think that put some floor under or how bad things can get by the way Nice Haircut Very High and tight Jeff thank you can. I did it for you on right to this felt a little bit like an American companies here by will all no longer you know and so in terms of what listing standards are. Let's be clear. There's a lot of Chinese companies aren't listening here because they can't make these standards for the good news folks is I think the American aircon listening standards and the exchanges are very very high and they include accounting standards and they include transparency in corporate governance. I I think that that is really the standard and I think that is something that will win out but but we're talking about Jeff talking about emerging markets which which I would put closer to forty forty five percent China and where you can see actually from the April highs the downtrend which is now four or five sessions well off trying to break through. It's a downtrend can't breakthrough frankly with the dollar going higher. I trouble seeing this breakout. Alibaba is a name that I'm long in a name. That's done nothing for a year and a half essentially traded sideways but if you look at the upper end of the range anywhere between one eighty and one ninety this this is stock. That's been dead money. Despite the fact that you had an invest today Investor Day Jack Ma kind of move on people thought there was actually going to start to be a little more transparency a little a bit more inside an ant financial a little more insight into how they were going to run their businesses so it's not a particularly exciting time to be investing in emerging markets or mega cast regardless of this noise. I'm saying it's not right time I. I don't think even if the trade war ended tomorrow I think these stocks would get a pop. The commissary autry twenty nine stocks. Everyone goes out and the number one fifty six if you add in Hong Kong stocks to twenty nine. None of them meet the accounting extenders that the US companies do what I don't understand. What what number are you referring to fifty six of the listed Chinese stocks listed on American Exchange Okay so one hundred fifty six companies which one hundred eighty six but if you go with the Hong Kong number addy and Hong Kong and Chinese stocks it's about two twenty nine okay and the accounting standards of of the US listed companies? None of them do so some some standards. That's what this whole. Debate is about and with that equitable. We'll act that they're talking about. They get three years to comply listen. I can't speak to the standards to be a listed company I but but the concerns it should be I would think is there retaliation. Now that to me is the bigger concern again. You know we push the envelope the Chinese pushback so it gets back down onto. Is this make a deal more imminent or is this make a deal less likely I would say this makes it less likely and again. It's shocking to me and I've I've been wrong so after prep but it shocking me that even off the backdrop of everything. That's happened over the last couple of weeks. The VIX has still it's seventeen handle and we're still within a whisper birther of an all time high knee S. and P. Five hundred quickly if you want to look at one thing the Russell the WM look at where it stopped on the upside at stocked basically we topped out in March March and a number of times since one fifty and a half one fifty nine level closed lower today to me the Russel's been tell all along and if that starts to sort of roll over from here that that might actually pull down the broader market. You'RE GONNA add in the price action the exchanges today yes. You're in my head well so then you're in your kitchen. That's going should be troubling to all of us on the ice. That's a small portion of their revenues but but it's but it's a larger portion and of of course you have people shoot first and then research it later. I don't think that this is going to happen. I think that's important but this has been going on for years and it stems from the House of Representatives bibs not from the White House. The White House is actually picking up. I understand this has been going on for years but it hasn't been going on until these recently with the context of a trade war with the context of a China that is going to look for ways to retaliate to guys point and China retaliates. What can they do they can make it very difficult for US companies to expand in China on it to do more business in China to get their stuff through the supply chains in China JV's in China to actually go there and it already was so it'd be clear companies like apple and some of the technology companies for sure have figured out with the rules of engagement are and and I think I've kissed the ring so to speak and I think you know that's how the quid pro quo takes place? I do think that this is a guy you're right. I ultimately it's very difficult to see how this doesn't lead to a ratcheting up of a of a tit for tat and I think as we go into October ten. I think the market is a little bit too complacent as it relates to trade. I think I think jeff talk about where positioning not so complacent greatly. Even though I think in the last couple of weeks those a I bear spreads are things that can change pretty quickly. They're kind of like like relative strength indicators they can get pretty overbought oversold but the general positioning and equities is very underway and the one thing that continues to be strange to me and I talk about this a lot too but it's that correlation Asian between trump's approval rating and the de Escalation of trade tensions and they're actually positively correlated trump has to know that he sees those approval ratings and those approval ratings are directly tied ride to the votes. He's likely to get in the presidential election. He has to know that in the back of his mind and even with impeachment coming up maybe that pushed him to want to do a deal a little bit more to try to save some MM SORTA face there and to your point about the positioning. I think the one thing that might be under appreciated. Is that look. The economy here isn't that bad. Consumer confidence bounce a little bit today. The housing housing data is better. I'm not saying we're off to the races but again as it relates to a support and a potential catalyst for that sentiment why would China retaliate the my because because they don't want the supply chain to change any more than it's already changed with Tara so we've heard of apple trying to work around China already. Why would they give other companies more of an incentive to try to do that. I think that maybe it makes it less likely that a deal gets done but I don't see retaliatory measure that behooves China. I mean I think I think what the other thing that trump knows is that you know he's always emphasizing the spread the difference in performance between Chinese markets and US markets and how they're feeling any more pain versus the US markets etc.. This is a way of weaponising the trade war hot and saying you know what we're going after Chinese stocks. We're GONNA make it more difficult for to raise capital in the best market in the world here and that's going to hurt you. I agree one hundred percent. Which is my point is and Steve Might Happy Right. I mean why would see I think Americans we look through everything through the prism through the Lens of being American so it's hard for any of us to understand how the other side would react the act but if you take a step back and say to yourself you know who's in a better position who's in a position to can outlast the other again president. She doesn't have to run for reelection action in a year president trump does so my sense is and I've said this for a while. I think the Chinese are better suited to play the long game than we are. I think very very clearly the our markets are the deepest most sophisticated in the world. China wants to be a part of these markets and I think this hurts

China United States White House House Of Representatives Jeff Hong Kong ATF Senator Marco Rubio Jaber Congress Apple Alibaba President Trump Melissa Jack Ma Donald Trump FTC Laura Arro
"jack ma" Discussed on World News Analysis

World News Analysis

02:19 min | 1 year ago

"jack ma" Discussed on World News Analysis

"Now. Is it's like you said but the the immigration issue is a slightly different different one and the basic thing should their basic copulation so now now you made me forget where it i was about to say but but japan has the same sort of problem that china is facing and his slightly ahead of china because they've already come to grips with some of the issues so one of the issues is is making the retirement age later one of the things that they can do this chat. The japanese workforce has more special relationship to its employers. The the typical japanese employer employee relationship is one of a <hes> sort of a long time long term committed relationship on both sides a japanese when they graduate japanese young people when they graduate from college usually have a very short time or very <hes> desperate time to to very quickly get attached into a good company and what that means is that they will usually be taken on as employees they will be trained for the job. They don't expect employees to come with with skills already. So japanese won't <hes> i work at a skill in order to get some some expertise and then go look for job. They will get the job and then get the expertise. It is expertise. They need on the job which means that they have. The company is pay for as gripe paper. The growth education this company loyalty will continue throughout as the company treats them well gives them regular raises gives them lots of overtime encourages them to spend time at the office by making their the atmosphere there air pre conducive to serve living there and eating and socializing there so there's a very tight relationship between the japanese employer and employees who see it as a family right so that means that the same thing with retirement. They are not going to be this tendency that in the u._s. You see you know were they get close to retirement age and they're just brutally kicked kicked out of the retirement or out of the market before they write quite ready to retire. My father had to retire like five years earlier than he wanted to because the company that he was working for felt that they needed to save money and so they gave him an irc quote early retirement she was a different package than what he was hoping for the japanese are less likely to do that and so all of these sorts of things are going to have to happen in china as well what's happening in china. I think is happening. Japanese twos wither without the presence of companies..

china japan five years
"jack ma" Discussed on World News Analysis

World News Analysis

03:51 min | 1 year ago

"jack ma" Discussed on World News Analysis

"It's quick. It's instant gratification. If people are obsessed mr with instant gratification there came to give up the other side. I mean none instant long. Social media in my mind is search social. Media is for everyone to satisfy different needs. It's not just the mass the grassroots the grass who's happened to be the majority. It's always the educated the minority since ancient time people since very engine time i think there's only one or two learned handed person standing beside the king of the queen and now because of the mass education when people have knowledge now but still compared to to the grassroots they they had the so-called alito though i refuse to use the word this it's a cliche now but people who are educated. They definitely are are not <hes> looking for instant gratification. I will look forward but not on daily basis well to bigger pictures so in the euro two thousand eighteen the total volume of digital economy in china and the related industries reached about five hundred billion are m._b. Which is about seventy a billion dollars so it has become the new driving force of economic growth even in china. So how do you assess the developments of china's digital economy army in recent years. Digital economy is going to go even more to toe in the future. I think okay if if everybody like a per capita like like a china has one point four one point three billion population of the latest one thousand four hundred eighty if we spent just the one quiet on something like though into to buy because knowing is and the inap- purchase right something. You're interested you pay for it. That's very popular very trendy. If can cover the bigger bays like i said the majority people the economy would be good but okay the economy economy would be good and house healthy enough. Is it going to be sustainable is going to represent human progress. We still need thinkers. You know other stuff. Scholars colors like david wright your articles and share with us. It was her take on that platform is is content neutral in other words. Whatever you can do a platform you can you can put beethoven on it or you can put allow show dominators at sustain it so the thing is most of these things or many of these things. Recently you get started up because there's a phenomenon of of something like these these fast b._d._o.'s cute things there are several minutes can grab a lot of people become viral when it becomes <music> a mature media then there's a possibility to branch out in present more for different audiences something like i don't know if you know about the the app or the pro the program that's called spotify defy spotify not an american. Yes free frames in the us but it's not an u._s. Platform spotify started out as just a it platform that could pri the play a new new releases by artists and most of it was pop rockin and and some of the things they've become so extensive now in the end they're actual database so huge that they have everything from the most trivial and the most silly stuff that goes viral to the most deep profound works of bach that you can get all align basically weekly for free or for for very cheap is a platform that it you can't characterize it. It's all virtually all music that is produced by human beings so the same thing with these these platforms platforms are only <hes> as useful as they are the people that use them if they only attract a certain demographic like young teenagers. Let's say you may need a lot of <hes> a a lot of hits a lot of likes and you make a lot of money but a lot of but the but your business model might be flawed.

china spotify us alito david wright inap beethoven billion dollars
"jack ma" Discussed on World News Analysis

World News Analysis

03:22 min | 1 year ago

"jack ma" Discussed on World News Analysis

"Ma sees them only as kind of useful tools that we would be able to use to control things and do certain task. They're boring or too repetitive for humans to do he long must imagine that this world of computers and robots as a sort of almost our peers these people who could take our place and do things and maybe even do it better go beyond us take us places where he couldn't go and tell us truths about the world that we would woah that humans would have no way of finding themselves so he sees a much more prominent role in any sees human beings as as having in the future to be able to live with robots and to live with artificial intelligence and are to be companions and cooperators whereas jack ma more practical looking at the short future sees a._i. And in a machines as just merely tools and aids for what human intelligence can do and that's a that's a very big difference. I think probably both are going to be true for a long time but the scarier one is the longest version. There are actually actually some very interesting points. Let's go through them one by one first of all in the conversation that ma said why do we need that many jobs anyway. He added that humans happen fearing that tag will take jobs away over one hundred years jobs have increased and he believed that way is help. Humans can reach a point where we're average work. Week is only three days per week an average workdays only four hours. A day in your opinion is feasible and what is her assessment of that again. You you know it's about mar as the problem. Solver is just a tool war is going to help us to make us our lives better so we can take advantage vantage of them and use them to its fullest and elon. Musk is like no no no. No you know we we are short of something. I have to say that one is optimistic. Nick optimists to the other dick down. Maybe psychologically into ilma not i haven't had chances must be a pessimistic because in china pessimist somists because in chinese there's one thing <hes> a phrase have you ever heard of and the way the way that means when you're live comfortably you started to worry about about the future which ones fit into definitely elmar elon musk but this means usually people who focus on the present isn't are those who usually opted optimists says no problem. Do you think it is something that human beings should be worrying about that. Robots thoughts are taking our jobs away. <hes> i don't think so that's that's of course the the the fear that people have and i think that's part of the phenomenon that we have now with people like donald donald trump to add and tariffs on goods because they see that <hes> you know jobs are quote. Unquote jobs are being taken away <hes> the truth of the matter. It's not just the those coal miners and the sort of apple manufacturing jobs that are you taking taking away because of because of china or whatever compete competition his it's it's automation all of those jobs it involves assembling that involved digging that involve manual labor all those things are going away because of automation not just smart computers but just automation now. I think that's a good thing actually..

Ma donald donald trump china apple Nick one hundred years four hours three days
"jack ma" Discussed on Chat With Traders

Chat With Traders

04:05 min | 2 years ago

"jack ma" Discussed on Chat With Traders

"Chat with try is episode one hundred and sixty nine on please spare to share this episode with you. I feel as I it's a really solid interview or conversation with Jack Ma Jack is someone who I would consider to be a very talented futures try to and he lives here in Sydney at Jack is try to prop for about five years now and this year, he's taken on a great commitment to form something bigger than himself Minta capital. It's a firm of his own which actually ever GE is the resources and the infrastructure of another firm, Bain Genesis trading. And right now, Jack as Carney mentoring and financially backing four developing tried as who he sees potential. So this is a topic. You definitely hear more about lighter in the episode Jackson chiding is what he describes as an infantry style. He tried the strident ninety Bank bills by continue. Early working structures around his expectations of where the yield strip is going to be without being to expose to outright, brisk. He'll so trades strident three and ten year government bonds, but mostly during the contract expiry or the period known as roles as a wise, we discussed many things prop trading strategy developing skill psychology and mindset competition and plenty more. But the exciting part about all of this is if you would prefer to watch the conversation rather than just listening to the audio Ernie like, you currently are you can find the video on the chat with tried his YouTube channel and as the last episode of two thousand nineteen or would like to cite you have an ice Christmas. Mike sure to enjoy some time away from the screens. And of course, thank you for continuing to support chat with traders throughout the year. Now enjoy the episode with Jack he's a good dude who are respect. And i'm. Sure, he'll be doing this for many as the come. I'm actually very interested to follow along with his progression and see retakes things from here. Anyway, folks on with the episode Haley guy plays welcome Jack Ma. It's coming through co Armagh. Let's just Mike day. Why not we're on table tennis table? Yeah. I don't think it's too in the camera. It's fine. Let's just thought the way we normally do and talk about how you actually got into try. And so with things like where did you start out? It came down to always in banking for about six years prior to that in sort of the commercial banking so worked to anes Ed was packed, and I always had sort of interest in markets right of moved from commercial banking through various different divisions. And y'all go to war where I thought I wanted to be which was the cycled equity division in Westpac. It was more of a product base role. There weren't any rule trading or market base. So pretty much walkout job was unsatisfied set down to myself, and when we'll actually want Assad listening, the things I want, you know, went from being reunited properly, according to you know, your contribution freedom time freedom of location. And no red tape and kind of actually came down to either becoming a. Celebrity all trading. So I guess I'll one with that. And then I just thought looking and back then the old Genesis album that they had a on seek to had a job application and win for K K and had you done any training on the side. While you're doing this year have always doing see if these just probably a couple of grand into the count did did sort of everything from FX two gold to index blew up two accounts are pretty much was like, yeah. I don't know how to trade, but you know..

Jack Ma Jack Mike day Jack Ma Bain Genesis Ed GE Armagh YouTube Sydney Jackson tennis Ernie Carney Westpac Haley guy Assad five years six years ten year
"jack ma" Discussed on Knowledge@Wharton

Knowledge@Wharton

04:42 min | 2 years ago

"jack ma" Discussed on Knowledge@Wharton

"He's talked about entrepreneurship education. He's talked about other things that really has the potential to really make much bigger impact than you know already Alibaba, a huge impact. And so I think that it's could even climb from here Orville. I think he is a very sort of unique individual in China because he sort of his company grew up almost in spite of him. I mean, wasn't his sort of overweening intention to be, you know, a giant mogul. It just sort of happened the the virtue of being able to speak English, which makes in sort of soluble in cosmopolitan world, and he's used to very good effect. I think by, I mean, there's a deep and abiding interest in education in the environment. And I think at the core of him, unlike an awful lot of moguls that I've met in China who are very crude, there's an, there's a kind of an expression to how of the sort of, you know base. Striving acquisitive men for whom a lot has never enough, and that it's not quite Jackline like I've known him for a long long time, and he's always had a kind of a bifurcation between, you know, his drive obviously to to to to create a company, but also to sort of retire to pull back to find a community where people think in do rather than just a become wealthier and and and become the titans of management. So there's always been that kind of fundamental divide and his personality that, and I think now we see it sort of resolving as he's getting older, he's decided, okay, that's enough. And now I'm going to start doing something else, and I think is still answer p will be important to them. And I think you will not only be of consequence. In China, but will help China be of consequence in the world because he can play on the global stage. Whereas many of the sort of other moguls you know long gin and you know, Chun Fung from high nine on gentlemen from one and people like that. They're just a totally different sort of genus and species. But it seems like his success obviously came at kind of the right time of where China is headed right now. We see some of the development that's going on in the growth rates Orville that are occurring in that country right now. And part of that does have to be in part because of of what Jack Ma did with Alibaba I, it's undeniably true. He is is kind of a catalytic age that has helped sort of generating the tremendous amount of of business and been a model for a child kind of company. On the private side of the ledger, but I think is move now statistically stupid because one of the problems in China is that the party, the Chinese communist party never really feel tremendously comfortable with alternative centers of power of any kind, and it's tolerated these big companies. But Alibaba is so big and it's not that it's been insurrectionary or insubordinate or hasn't kept its relations with the party up. It's just that when push comes to shove, the party never feels easy about having that much sort of wealth and power on the other side of the ledger. So it some point we've already seen them cracking down on other moguls. People are disappearing are hauled in for, you know, for for scrutiny for for, you know, to to be questioned, knowing quite knows why or what's going on. So for Jackson is lateral move now before that happens to him and his company, I think it's. Densely smart, eight, four, four, nine, four, two, seven, eight, six or for like send us a comment on Twitter at biz radio one, thirty two or my Twitter account, which is at damn Loney Twenty-one. You mentioned David second ago that he is very open about the failures that he's had. In fact, there's a couple of times where I've seen comments firm saying that that's part of the mindset he has within Alibaba. Is that to be a success to all of his employees? Ease the employee's need to maybe fail every once in a while. I think that's an incredibly important..

China Alibaba Orville Chinese communist party Jackson Jack Ma Twitter Chun Fung Loney David
"jack ma" Discussed on Knowledge@Wharton

Knowledge@Wharton

03:56 min | 2 years ago

"jack ma" Discussed on Knowledge@Wharton

"Alibaba's chairman, Jack Ma announced last week that he was stepping down as head of the Chinese ecommerce, giant tech billionaire said he was interested in pursuing philanthropic philanthropic causes. His successor will be Daniels aing who has been CEO since Mr. stepped away from that position back in twenty thirteen Jiang is credited with the development of singles day the largest one day retail shopping event in the world right now, Alibaba says that Mr. mile will continue to be involved in the company and stay on its board until at least two thousand twenty with more on Mr. MAs departure and a little bit of his legacy. We are joined here in studio by David SU, who is a management professor here at the school as well as entrepreneurship and innovation area coordinator also joining us Orville Schell who is director of the Asia Society center on US China relations. He is the former dean of the graduate school of journalism at the university of California Berkeley. And he has also authored ten books on China. Most recently wealth and power, China. As long March to the twenty th century that being published back in twenty fourteen David, great scene. You can thank you for your time. Thank you. Orval great to have you with us today. Pleasure. Thank you. So I guess Orville let's start with legacy. And even though he will still have some say on the company, what do you think his legacy is with Alibaba. Well, I mean, he is a Titanic figure. China is. I think most people realize it's sort of double entry Konomi where you're on one side. You have the state owned enterprises which our own run by the state itself. And then you have the other side. This kind of shadow world of private companies that have arisen and Jack is sorta the figurehead, the proud that ship and everyone knows Alibaba develop into quite a quite a leviathan, David. Yeah, say to echo Orval really. You know, first and foremost, early recognition of this entrepreneur opportunity, seizing it building the vision and the company to really execute in a face of very complicated business environment. Secondly, I would say that individually, he's really blazed a different. Career path than the kind of tried and true kind of model for many Chinese. He's very forthright about his various failures. He has been quite persistence, seizing on various opportunities he's had, it's really kinda create his own fortunes now, one of the richest if not the richest person in China. And so I think that's a different model than what many Chinese have taken. And then third, I think retiring early and having aspirated to do something else to keep. You know, his mind active and to really go into a different domain than what he's in that rather just resting on the baba legacy. So it sounds like you can. You're even looking him more like a very strong example for where China could be going in the future when you think about, you know, obviously she. Said the retirement early looking to do good for the community. That's something those are couple of questions that have been been brought up not only in China, but here in the US and other locations. I wouldn't be surprised he's got a tremendous amount of visibility in China, lots of respects. I think he has the potential very well-spoken, I think as dependent potential to be really quite influential on a number of domains that really exceed the business area, he could really has the platform and the interest really in these other domains. He's talked about the environment..

China Alibaba Orville Schell David SU Jack Ma US university of California Berke dean of the graduate school Daniels chairman Asia Society center Jiang CEO Mr. MAs coordinator Mr. mile professor director Mr. Orville
"jack ma" Discussed on Daily Tech Headlines

Daily Tech Headlines

01:43 min | 2 years ago

"jack ma" Discussed on Daily Tech Headlines

"In these are the daily tech headlines for Monday, September tenth, twenty eighteen. I'm Tom Merritt Alibaba's fifty four year old cofounder Jack Ma will step down as chairman next year on September tenth to focus on philanthropy and education Alibaba is current. CEO Daniel, Yong the man who brought China singles day will take over as chairman and remains the EU. After a report on the Mauer bites forum from user researchers have confirmed that too apps from Trend Micro, Dr archive and Dr cleaner uploaded browser history from users safari chrome and fire FOX browsers. This is similar to what adware doctor was found doing. The apps have been removed from the MAC app store. Analysts. Meanchey quo says his sources indicate the next version of the ipad pro will switch to USB see, plenty of people have speculated that apple would switch the cable and it's IOS devices to be lightning to USB see instead of lightning to USPA, but quos specifies the entire I o will change. Instagram has added personalized emoji shortcuts in its app. Your most use emoji will now show up above the keyboard when commenting on posts it does not show up and responding to a story or captioning. Your own posts. Snap announced its chief strategy officer. Imran Khan is leaving the company tech crunches sources. Say he plans to start his own investment fund. Another source told tech crunch Khan's departure was planned for four years from when he started at snap and was not caused by any particular events at the company con will remain until his replacement is on board. It's nap. Indian startup, what a sale has launched its first cashier-free store in coachee at the gold souk GRANDE mall like Amazon goes store, customers can scan their what a sale app on the way in.

Imran Khan Alibaba chairman Jack Ma Mauer chief strategy officer USPA Instagram EU apple CEO coachee China Amazon Yong Daniel fifty four year four years
"jack ma" Discussed on We Study Billionaires - The Investors Podcast

We Study Billionaires - The Investors Podcast

04:38 min | 2 years ago

"jack ma" Discussed on We Study Billionaires - The Investors Podcast

"Losing your reputation is really the most valuable asset you have whenever you start entering the business world, and it really reminds me of these stories. You hear about the good strict, tough CO like he's, he would be this tough negotiator and he does not botch at any point in time. And honestly thing what Jagr is really getting this is wrong strategy. I mean, the store should go something like this was fantastic. You found a way of how both parts could prosper more a might be putting too much into his his thesis about greed, whether that was definitely what I was really into it. All right. So we're going to move onto the next question and this one is for entrepreneurs. Let's say you're working on something and it's kind. A crazy dream, or you're trying to build this business and you're not having a lot of success and you're taking criticism. How do you keep driving on without giving up? And this was Jack's response. If you have a crazy cream there is that you have to find the people around you when we invest a company, I want not only looking at the founder, I want to see the people who work with the founder, whether do believe him if he is the only person that believe in the dream, that's very dangerous is not a crazy dream is a creative person. You have to find a group of people who are off believed they all crazy something interesting. Right? Because it's easy to make a one person crazy, but if you make the whole team crazy. Interesting. This is what I did early days of Alibaba. I made a speech in America. Punk Obama valley mission and management way of running an internet company. I was very early two thousand two. There is a guy in American guys sitting. There's a, this is a crazy guy internet at the survivors to make profit and revenue. Forget by valley amazing team working. You know, this is this is all lies. He's a crazy. I say, sir. Welcome to Alibaba someday. So Kim to Alibaba, spent a few days the day where he left. He said, Jack, I've thought you crazy. Now I found a one hundred crazy guys. Your company. We believe what we are doing. It's easy to make you believe. But if you can make a group of team belief and continue to do it, that's so I think if it's crazy are not. The only testing is the idea of you want to make a company. Sounds crazy. Your custom love it. If the custom likened your team like it, you know it's not a crazy if the customer does not like it, your team don't like it or get about, you have to change yourself. Even if you have a crease ideas, don't believe you're always right. You have to learn all about by the past eighteen years. We have changed a least eighteen BIC major changes. We are not the Alibaba last year every year. We are different company. So this is the change all the time to be sure that we don't care about the other people say, you're crazy. We care about. Is this something really different really make the difference? That's what we care about. All right. So pretty awesome response here. I really liked how he started this out with saying, you know, if you're the only person in the company that believes in it, then you're the crazy person. I mean, he hit nail on the head. I don't really have anything else to add. I just really kinda liked this exchange, and I liked the way that he answered this because that's not really how I was expecting him to answer it. So Stig, curious what you think. Whenever I heard this story really make me think of Jack Ma himself when he was starting out before he became this billionaire, this big shot, right and Preston, I read this book about Jack Ma. We link to this in the show. Nope. I wanna say it was just before so hundred. Probably ninety nine or something, and he's talks about how he kept on applying for jobs at his home city, which was just pressed already knows where I'm going with us, but there's this iconic story of. KFC coming to town and there would like really just hiring right? And the had twenty four people applying for the job? Yes, twenty three people were hired. Jack Ma was the only one who isel out, oh my God..

Jack Ma Alibaba Jagr founder Obama valley Kim America KFC Preston eighteen years
"jack ma" Discussed on The Future According to Now

The Future According to Now

01:52 min | 2 years ago

"jack ma" Discussed on The Future According to Now

"Users Ali pay a global leader in mobile payments. Fittingly it's part of Alibaba, arguably the world's biggest e. commerce conglomerate. But it didn't start out that way. Porter Arison spent eight years as vice president at the Chinese tech giant, and is the author of the book six billion shoppers. He shared with me the journey of Alibaba, and it's founder Jack Ma. I found out about all evolve of back in two thousand. I was living in China and the internet, boom, just sort of hit China and really what Jack MAs vision was was to build the world's largest marketplace for global trade. And then over time it expanded from wholesale marketplace into consumer marketplace, mostly focused on China, but now it's become, you could argue the biggest consumer marketplace in the world, even the sales volumes bigger than Amazon. Jack Ma catapulted Alibaba from a small startup. To a global leader by creating ways to bring online commerce into developing economies. Traditionally, if you're trying to source, say five hundred coffee mugs for your hotel, you'd have to go to trade shows you'd have to fly to China, meet with suppliers is really long process. So Jack Ma saw this sort of pain that manufacturers were having trying to find buyers. And he saw clearly that the internet was the best way to help these fires, find suppliers, sensing opportunity. The new wave of foreign players entered the burgeoning online marketplace in China and another developing economies often with disappointing results. And the biggest problem they've made was trying to bring their US model to India or China Vietnam, but it just really failed each time. Like contrast Alibaba's, founder and ecommerce trailblazer Jack Ma leveraged his homefield advantage to build a new business model. Porter explains why.

Jack Ma Alibaba China Porter Arison Jack MAs China Vietnam founder Ali vice president Amazon US India eight years
"jack ma" Discussed on Today's KCCR

Today's KCCR

02:37 min | 3 years ago

"jack ma" Discussed on Today's KCCR

"Jack ma man of throw in time reigning bannon saying in the man accusing handed say this the man rarely man's the power being down singh the latest weather for the force here area affair with a mix of clouds and sunshine across the area today with high temperatures in the upper 40s drought 50s wenzel state of the south southeast of i five to fifteen tonight with partly cloudy skies will had out of the thirty is wednesday to the southeast at the outlook for friday calls for partly sunny conditions high about forty six mid20s friday night thirty eight for a high by saturday for the south dakota state lottery weather i weather center i'm paul probably at today's casey see us right now twenty se our home for.

bannon the outlook casey singh wenzel south dakota