His meeting on white house ground raise questions about his income. Global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. Im alisa parenti. This is bloomberg. Bloomberg aussie Bloomberg Technology is next. Anchor im cory johnson. This is Bloomberg Technology. Tesla gets a boost of cash after the chinese internet giant tencent by the state. Uber in the spotlight again him at this time by their own choice, coming out with their first ever city reports. First to our lead. A cash boost for tesla. Tencent spot a 5 stake in the company. As part of a round of investment the Company Announced they were going to borrow, but could there be a raised stake in the future . And tesla have no operation plans in the future, but that may change depending on how the ties develop. We start with you. What the heck is tencent thinking . Only they wont i what do they want out of a 5 stake . Guest they look for the Fastestgrowing Companies and make an investment. They have a far ranging portfolio. They are really charting their plan to take ownership of this world of connected electric vehicles in the future. They are not the only players in china. Bayou has been investing, so has alibaba. It doesnt come at all that much of a surprise. Anchor these are financial investments. Maybe not partnerships, but stakes. Guest its unclear at this point. Sources are telling me they would not be surprised if there were partnerships. You can see integrations into the electric car. Let me ask you the same question. Tencent has about 18 billion on the balance sheet. Matters. Ion investment what do you think they want out of this . I think tencent has made close to 100 50 investments and private and Public Companies of all different types, but all internet related. This one marks one of several investments theyve made it to the automotive space. We see this all over the news here. Theres a number of Major Players in related industries, whether tesla for over and lift or uber and lyft. Stage. A very early no one is sure how its going to play out. Are the automakers going to be the players, the manufacturers like tesla . I think they want to have a seat at the table. Have a toe in the water position to see how things play out. Anchor it also helps them get cash out of china. Bit a lot of money fleeing china on an individual level. This lets the company have investment outside of china, so not necessarily as tied to the chinese economy. Guest definitely. All of chinas Biggest Companies want to have a seat at the table, want to get more capital abroad. Its unclear what the process is going to be like for tencent, but we are seeing it as we speak, and financial is having , saying ith euro net is going to have some issues with the approval process. This is a big deal for Chinese Companies and a really great way for tencent to have their stake in a very big, fastgrowing u. S. Company. Some of us forget that china is the largest car market in the world, bar none. , when younk tencent do the work on this company, do you look at this is a business that should be in automotive in different ways . They are already invested in the automobile business in other ways. They own a stake in auto home, and auto trader. They recently invested in the leading auto finance company. One of the parts of the story that is important is, while china is the largest car market in terms of new sales, it is per capita number of cars is still quite low versus the United States, in particular. This number of cars has become a problem. In many of the major cities, there are restrictions on what days you can drive. There have been days and weeks long traffic jams in certain parts of china. More than any country, to the extent the Autonomous Vehicle takes some of the traffic of the road or cars off the road, i think it makes a lot of sense for china as a country to be embracing Autonomous Vehicles, which i think is a lot of what this investment is about. Anchor fascinating stuff. Theres an interesting story today about amazon and focus theyve got on the middle east. It was a pretty big acquisition. Guest we dont know exactly what the amount was. They had at one point been in talks for Something Like 60 million, but it is probably closer to 1 billion this time. Anchor for amazon, that is a lot of money. Guest they see the middle east as an emerging, growing market. This is a company with huge brand presence. Commerceof the Biggest Companies in the middle east. Its a great point for amazon to get in there. It made a lot of sense to purchase the company. Anchor its not really amazon style. Buying a company within the adjacent business and making it their own is not the amazon way. Guest but in this instance, when you look at what souq has already built, that infrastructure is probably pretty difficult to recreate in the middle east. Amazon is probably looking at this deal and thinking this makes a lot of sense. Im sure they were probably evaluate other opportunities in other markets they have no footprint in and come to that same conclusion. Anchor thank you for coming in. A Bigger Picture of the market after the dow snapping the losing streak. This a resume was to trump rally . Reporter great question. It was certainly a bullish day for stocks. Major average open slightly down, and they shot higher. What is behind this is actually the 10 year yield starting to climb higher to set up a rally in the banks. The banks led. It wasnt all about technology because the rally for major averages in the u. S. We also had some of the tech and internet stocks trading sharply higher, helping out the s p 500 and the nasdaq, including apple, facebook, and amazon. Apple and facebook closed at new record highs. Ubshen mull the niche at 2nks apple could be a billion stock. Apple, from a technical perspective, looks pretty stretched. We have a chart that suggests perhaps more bullish trading could be ahead for apple. Indicatoring a new within the bloomberg that blends also as technical indicators, but symbolize it by showing bullish trading action in green, bearish in red. That boxed in area back in 2012, this indicator has been pretty solid. Right now it is all green, suggesting these gains for apple may just continue and, in turn, help the major averages. Anchor also a bid for a stock that had been hurting today, accenture. What was the big move their . Reporter they finished up more than 1. 5 , the best day since december 7. The big news there is oracle, the news that they could buy out accenture. I reached out to bloomberg intelligence, and they say this should be pretty unlikely, mainly because of the valuation. We take a longterm look at accenture since they went public in 2001, this stock is up in a huge way. Billionarly and 80 market cap company. Is perhaps looking for a Smaller Services company, and we did see some of the other Smaller Service companies rally, including hp enterprises, computer sciences, and cgi group. Im guessing we will be hearing on a stockthis Story Company you dont focus on too much, but who knows . Anchor its trading at 2. 6 times is earning growth rate. Thank you very much. In biggest grab for the Global Market to date, swear expanding expanding inquare the u. K. President trump rolling back the president s rolling back the policies of president obama. What this means for the environment. Tv. K us out at bloomberg this is bloomberg. Anchor President Trump signing an executive order today intended to scale back the clean make American Energy independence, and restore clean coal jobs. Joining us from the d. C. You are d. C. Bureau, jen covers the clean power industry. Coal. A doesnt import any does encouraging coal make america more energy independent, or have any impact whatsoever . Guest this order is much broader than just coal, even though trump today framed it very much in the language of helping coal miners. Order that this trump signed is dismantling the Clean Power Plan, which forced coal, largely eroded cold market share in the market sector, but also listing other restrictions that have limited production of oil and gas on federal land. Anchor lets talk about those one by one. Coal industry stuff, a lot of suggestions that there are monitoring of prices and pollutions of coal has been hurting the industry, and that money will stubbly will suddenly start flooding in. Is that true . Guest analysts dont think so. The coal industry is up against pollution regulations, not just regulations on Carbon Dioxide that are affected by what trump is doing today. It is regulations on mercury, and other air pollutants that arent going away. That has been a primary headwind for coal in the election sector. One of the reasons you see utilities go towards natural gas and renewables, which have the being as of not expensive, there is less labor. No matter what trump does with the Clean Power Plant, he cant change those fundamental economics for coal producers. Obviously there is coal used for steel. That is something where maybe he sees an opportunity to create a Steel Manufacturing renaissance in the United States. In the power sector, it is a challenging thing to do. Anchor furthermore, i wonder what this does mean for the future of cleantech and what changes will affect wind and solar. Guest i think went and solar developers, i talked to them a lot here, the lobbyist for those industries, they say they take a lot of the president s boxes. Domestic Energy Security and independence, so they are really telling that story to the trump administration. They are not pitching themselves as climate leaders so much as part of his economic success story. Anchor it also seems to me that , not unlike manufacturing, with coal, the jobs that would come back if there was more mining to be done would be more automated, more use of machinery, less use of human beings, so not as many jobs would come back, hes noticing amount of productivity would be happening. Guest right. What we have seen from coal Mining Sector is an erosion of jobs because of increased mechanization. The image of a minor going down underground with a pickax, that is really antiquated. Now you have bulldozers, and opend diggers pits, mountaintop removal sites. Its a completely different picture. Mechanization has eaten away at those jobs, and even with the Clean Power Plan gone, those jobs arent coming back. Jen, thankombergs you. You psyched to share your browser history . U. S. Congress is set to vote on broadband privacy rules. Wider web history could be at risk, next. And use our interactive tvs unction. Once a slide, plus previous stocksews and all of the and functions we are talking about. Tv. This is bloomberg. Anchor the house is set to overturn broadband privacy rules. Just months ago, the senate voted to scrap the rules last week. Conservatives are worried about your browser history. Opponents of Less Government regulations say these overreach Internet Service providers at a disadvantage against websites and apps. The Coalition Group funded by comcast and other broadband providers, the argument ive comcast, time warner cables, companies we all know and love, just kidding, these Companies Think they are ready real disadvantage against google and facebook and the like. Is that right . Guest matters of the 21st Century Privacy Coalition are very strong supporters of consumer privacy. They firmly believe in that companies have to be transparent, disclose what information they are collecting and how it is being used, and they should be held accountable for honoring their commitments to consumers. I would say that the ftc agency sec toment to the the fcc, and they pointed out 27 separate criticisms of the fcc rule, not all of which were addressed. The most significant one is the fact that privacy protections, although they are critically important, should be technology neutral. Fcc wrote a report ,n 2012 praise fairly widely including by privacy advocates, that called for limits on Data Collection and for technology neutrality. Anchor currently, does a cable to tell me isp have if they want to look at my browsing history . Guest do they have to tell you . No, but they have all make commitments. They dont look at browsing history right now. They have all make commitments that they will not sell that data. If they dont honor those commitments, they are in violation of the law. Anchor im not talking about selling it. Im not you but using it for themselves. Guest for internal use . Sure. For billing purposes, Law Enforcement purposes. They might find some interesting patterns and things about the information they collect and use that to benefit tumors. That is what providers like google and facebook do. Anchor is that understand, they have to notify the person using. Someone might just click on accepting the terms of facebook and google, and one can argue whether that is truly a notification, but is that the rules are different for apple and google and facebook than they are for comcast verizon . Guest the rules certainly would these secnt if proposals these fcc stay in place. And we think they are fundamentally flawed. Anchor we see Companies Like and thinking more about being a content provider. Suddenly verizon is both aol and yahoo , as well as being the isp, so they really do want to go much more headtohead with google and facebook. Guest i think what you might see going forward, particularly if this rule is modified or is competition for privacy, which would be a good thing for consumers, and more innovation, also a good thing for americans. That is the hope. Anchor to say this rule that removes privacy competition gives more competition for privacy, i would say the pushes to get less privacy. Guest i would say its not entirely certain. If you place restrictions on an isp or broadband provider and they result in higher prices or less innovation, i dont think consumers are necessarily benefited from it. The fcc still has the authority to bring privacy cases as it has done over the last several years under the previous administration. I hope they will continue to do that where appropriate. Anchor this is about taking away privacy, not adding more for the isp. Guest i think its about more than taking away privacy. Anchor its about the way privacy and something else. I would agree. Guest i think we are in agreement there. I think its about replacing or undoing what we think is a flawed privacy proposal that was passed on a partisan vote. Our approach was to try to have a bipartisan rulemaking and decision. They are more enduring. Fcc had thehe ability to go back and write a new privacy proposal. I think we are not quite certain what the future would hold. There is a reasonable chance that the future will be more promising for consumers. I certainly see your question. Anchor i appreciate your time. You. R ftc chairman, thank coming up, intels executive Vice President of manufacturing and operations. We would dig into was next with this 3 billion shipmaster. 3 billion chip master. This is bloomberg. Attention homeowners age sixtytwo and older. One reverse mortgage has a great way for you to live a better retirement. Its called a reverse mortgage. Call rfree information kityour with no obligation. It answers questions like. How a reverse mortgage works, how much you qualify for, the ways to receive your money and more. Plus, when you call now, youll get this magnifier with led light absolutely free when you call the experts at one reverse mortgage today youll learn the benefits of a governmentinsured reverse mortgage. It will eliminate your monthly mortgage payments and give you taxfree cash from the equity in your home. And heres the best part. You still own yohome. Call now take control of your retirement today you are watching Bloomberg Technology. The u. K. Is standing by its statement that now is not the time for a scottish referendum. Brexit, the focus is on which officially begins tomorrow. Defiant scottish lawmakers voted today on a new referendum for independents to be held within the next two years. Germany wants a hard commitment from the u. K. It will not look to renege on its eu bill during the crucial to your negotiation. The u. K. Is the unions secondbiggest net payer. The bill could be as high as 65 billion. The wife of Francois Fillon is facing charges. Investigators suspect she was paid for jobs she never performed. Ministericas finance is back in the country today after being abruptly ordered to leave a trade promotion trip to britain and the u. S. The president is believed to have mentioned firing him. The minister says he is not resigned. Three african nations are on the brink of famine. Officials say 60 Million People are at risk and it is the largest humanitarian crisis in 70 years. Global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. I am alisa parenti. This is bloomberg. 8 30 in sydney. I am joined by paul allen with a look at the markets. A positive leadin from the u. S. Shipping up to be a positive day around the asiapacific. Looking good at a quarter of 1 . We are seeing some strength in the nikkei futures and afx futures point up quarter of 1 . We are looking at the retailer meyer, the mystery buyer of a 10 stake in the chain must be revealed. We solve the shares pop about 18 on monday before pulling back on tuesday. The state of queensland will be mopping up after cyclone danny debbie. The basin in queensland is the largest coal producing region. Keeping an eye on the westinghouse bankruptcy. Earnings will be announced. I am pau