I am guy johnson. I am francine lacqua. Alibaba breaks another record. Chinas ecommerce giant drew record sales on singles day, the worlds biggest shopping event. It was 5. 9 billion in last gotten in 14was hours. Ryan chilcote has the details. This year will see alibaba takes is largest ipo and now it really going to make it clear what singles day can deliver for it. Alibabas master plan to make even more money out of ingles is to take a global. The most interesting things. Aliehave alley express xpress and another website that operate outside of china. Press is the biggest in russia and brazil. The idea is to get those websites into markets around the pe us into this buying frenzy which is singles day, also called double 11. The problem is when they get into markets like the United Statess where you have amazon and ebay are already entrenched and it was a survey done that showed despite all of the attention that alibabas ipo got , only two out of three shoppers had even heard of the company. They have work to do. The good news is that analysts we have been talking to say alibaba which has shown a readiness to stand through acquisitions to take market shares has 18 billion in cash. If it wants to do that, if it wants to try and make singles something that francine celebrate as well, even though you do not have to be a single. 60 of china that took part in singles they were not single, they were married. Only 25 were single. They have the money to buy that publicity. Everything and i usually celebrate its one way or another, it is usually take. Alibaba has created a singles day and turned it into their advantage. A company cashing in on celebrations in this way. Alibabas problem, the reason why they commercialize this singles day holiday which was 1985 students and they notice no one was buying things. That is why they latched on to dublin 11 or november 11. Debeers had the same problem diamond deposits being discovered in south africa in the 1870s and the diamond market is really in trouble. They came up with idea that you need, through an advertising agency, need a diamond as part process. Gagement ring Engagement Rings were quite and luxurious and to have as part of a Marriage Proposal and let alone having a diamond with it. They came up with a diamond is forever. 1948, a diamond was essential to have part of the Marriage Proposal. More than that, when they discovered it was a planned thing, when in the went out with the man to buy the diamond ring, she always chose a cheaper rent. They invented the idea that it should be a surprise engagement ring, where the man buys it himself because studies showed men will spend more. It helps to debeers. I do not know what it means for alibaba with a global audience. People trying to get into cyber monday, black friday, into the prechristmas season. Thank you so much with the parallels between singles day and what debeers did with the diamond market. If a woman chooses her engagement ring, it is cheaper than men. Impulsive buying is more a mans seeing. I can assure you that. Later on alibaba and betty liu will be speaking to alibabas executive vice chairman and that is coming up on in the loop. It is here on bloomberg tv. They see a singles and a surge. Lets turn to be sales. Cocio, very good to see you. Are i want to know what your investors are saying to you at the moment. What i am here it is you have had a 20 pop in the past week and people have invested. When you make these kinds of returns, maybe time to lock in the profits. Are they in the short term . Are excited, they ecommerce story. When you have something as big cap,ibaba with a market that is what happens. When you look at the stock today and stocks trading at 20 times, the good news is there in the market caps. What we saw yesterday was unprecedented which is a phenomenal response for singles day and the response they got from outside of china. About is aa is all not justion platform, the chinese consumer, but outside china. If you got alibaba on your account, would you like the past few weeks was mark it is a good stock and one would like to hold on it for a number of years. The way we look at it is like ecommerce is likely to grow in the next couple of years. You have got to be mindful of valuations. A chance to take money off the table. Itwhen you look at alibaba, has a lot more rivals. How like he is at that alibaba takes off . When you look at the website, it is poorly designed to western tastes. It looks like a cheaper version of internet ecommerce we already have. They capitalize, you see it coming up. What alibaba offers is an opportunity to buy chinese goods. Shoesok at 60 of the produced in china. It follows that. There will be people who look to do that. Where is the biggest opportunity that we will get you a glass of water. The biggest opportunity still in asia or in the United States or in europe . Could they brca2 the indian market . Is there a better opportunity . Could they board into the indian break into the indian market . When you look at the way that the chinese shop, we had someone who worked very closely with the Department Stores and they were saying the problem that chinese Department Stores have is people shop so differently. They will post something they wear online and wait for responses. Said, theer what you first frontier, domestic markets would be to asian markets. It is a big market. You have close to 200 million internet users. They would look to conquer india, indonesia. Have a presence in the u. S. And europe. Probably look to find those in a 35 years from now. Lets not forget it is [indiscernible] , should we know about how much the chinese by . Know about howwe much the chinese buy . Chinese are very different in how they shop. They look for deals. How much do westerners understand their potential and the drawbacks . , its a common across lot more value conscious. I see that in ecosource. , i think thattime is really something where alibaba comes into play. You have goods offered at a reasonable price. Everybody is excited about what you have done. Thank you for that. Rahul chadha. Here is what here is what is else on our radar. The u. S. A u. K. Joined the European Union with threat of sanctions against your following russiaameron against following David Camerons remarks. Vladimir putin has denied military involvement. Preparing to reach settlements this week with the u. S. Regulator, according to a person with knowledge of the case. Poisedopean authority is to reject government this week with six thanks including citigroup and hsbc. Are beingr of banks sued by u. S. Investors. A story that is going to be worth paying attention. Are suing the operator of a ship that they have had in the past. Are suing them for the relationship they have had in the past. We are going to televise Net Neutrality. We heard about president obama on open internet and he for stricter rules and how it will affect europe. That is after the break. Welcome back. The company news now. According to one russian handset retailer, prices of apples iphones are the lowest in europe. The countries as finance minister said theres a state fund to protect against the slings and commodity prices. The man who designed the fund said the request runs against this rid of the reserve. Thirdquarter net profit that beat estimates. It will list its 2014 outlook. Indices higher fourthquarter production for oil. Obama has taken a stand on Net Neutrality announcing his proposal for an the internet because Cable Companies. Hans nichols has the details. I am curious, why humans the statement and why he releases statement when he is already in asia and feels the need to get more aggressive on it. Timing, that is unclear. He is putting pressure on his fcc which is an independent agency and putting pressure on them not to have any fast lanes or slow lanes as siding against the Cable Company and for the content providers, the netflix all the world and smaller companies. Here is how the president tried to break down believes in the video message he believed while he was traveling in asia. I am asking the fcc to reclassify the internet under title 2. Them to recognize for most americans at the internet has become an essential part of everyday communication in everyday life. I am glad we have a chance to and theut title 2 markets understood. You saw Companies Like comcast, time warner, at t, and verizon, there shares declined and some of them including at t threatened to go to court over this and take a legal challenge to the potential new ruling. Congressional republicans are siding with the Cable Company assay obama wants to regulate the internet. Take a look at this tweet from ted cruz a he is a conservative from texas. Words and ighting suspect well will be hearing more about this and we are just at the beginning of the battle. Fromme great comments Companies Like comcast as well. From a european expect just from a european perspective, compare and contrast what we are seeing what we are seeing and what the debates look like in the United States. It is centered around Regulatory Authority making the internet more of a public utility. It seems to be earlier here and eating done and the parliamentary level. It seems to be done earlier here and done in the parliamentarian level. A leading to Net Neutrality, no fast lane, no slow lane. That was not codified it and figure out how they will implement an different Member States including germany have different views. At aa merkel was asked conference about a month ago and she is really kind of sticking away from really weighing in on really she is for Net Neutrality or against it and what she said is you need to increase a broadband capacity before you can make a decision about fast lanes and slow lanes. A combination of Member States waiting for the eu and brussels has not codified but they are heading in the direction Net Neutrality. The news for netflix on the continent as well as the u. K. It will be interesting. The new commissioner taking over , an awful lot of work to do to say the least. I am fascinated tos. I am fascinated to see. Cold war warning. Why the british Prime Minister is threatening sanctions against russia. Welcome back to the pulse. Past the hour. Thats find out what is going on in the markets. Talking to mr. Jonathan ferro. Very polite and this morning. The dax is up 0. 3 . The ftse has gained. The 40. D spain, data on we will talk of vodafone. That is the big mover on the ftse. Let me get it. There we are. Almost 5 higher because things are not as bad as some people thought they might be. By 2. 6 mate was down and they raised their guidance at the margin, just a little bit. Enough to boost expectations higher. When i did in and look at inbers 9 in spain and 9. 7 italy, that is stabilization. Paint a pretty picture of business for both spain and italy for the likes of vodafone. The fx market, the big mover. The Swedish Krona is norwegian krone. Subtly, Swedish Krona as getting stronger on the back of inflation numbers, not good, but better. Not as dovish as anticipated. One of the movers. I want to draw your attention to this very quickly. The euro versus the swiss friend. Swiss franc. The Swiss National bank does not like it at all. We are 120. 25, twoyear lows. That is the gossip in the market right now. Thank you very much. Jonathan ferro with the latest. Last night, Prime MinisterDavid Cameron gave his annual speech in london and delivered a certain warning to president putin at this further action that would destabilize ukraine. Grave danger to the rest of europe. Here in this building, with its history shaken by the blitz, we should not need to be reminded by the consequence of turning a blind eye when the countries in europe smaller bully smaller countries. Beach, were on this are joined by our guest. The Prime Minister seemed to take a harder line on russia than he usually does. True. That is a lot of people saw it as a heartening. He refused to be drawn it and to the cold war, and the garbage also made a few days ago and at the end of the day the sanctions at the moment are already quite tough. Theme have been asking for to ease somewhat. The Prime Ministers words suggested any easy that any easing is a long any easing is a long way. We saw the pictures all the she did not have an opportunity to change on his way back to the house last night. No, the Prime Minister was forced to leave the speech early to go and vote in parliament. Around the fact he had promised a vote on the arrest warmer and. The package of measures he voted on did not include that which was a consternation and more importantly among some members of the tory party. . What happened why did we end up in the situation . What was the strategy in how she thought it was going to work . People are talking conspiracy. And i think it was more of a lack of organization. Vote, which is a 35 measures, only effectively voted on 11 is valid. It is binding. It is a technicality. A great story and we will keep following. Svenja odonnell with the latest from the u. K. An italianyou chef. We speak to him exclusively. Welcome back to the pulse. I am francine lacqua. I am guy johnson. Obama has beent meeting with his chinese and russian counterparts on the second day of the apec summit. Obama and putin held an informal discussion. No official talks between the leaders are scheduled. President obama has called for the strongest possible rules to protect the open internet. Companies like comcast and verizon and at t have been against Net Neutrality and Companies Like netflix and yahoo agree with mr. Obama, who ond there should be a ban socalled fast lane for web traffic. Andhe captain of the ferry south korea that sunk will be jailed for 36 years. Over 20 people died. 200 people died. Lets talk about something different. The chinese crackdown on corruption has hurt cognac makers. What has been the impact on the chateau owners . Apple reporter traveled to find out. Our reporter traveled to find out. The vineyards reduce some of the worlds most famous red wines. Last year for the first time, one of them was used by an energy company. She runs it. Keeping the quality of the french wine and providing the chinese axis to it. About 20 or 30 people production. The chinese wine market has soared over the past 15 years to nearly 14 million drinkers. But crackdown on corruption in a little given hangover. She wrote officials. Exports are suffering. Government wants to control the consumption. So far, it, has not stopped the chinese from visiting the vineyards. Today, it is only 100 of them. I have one or two of the chinese. She now advises her clients to buy shadows that make more affordable line. , but theghvolume [indiscernible] many believe the drop in exports will not last. Willhinese investments help more French Vineyards resist growing competition. Is not the chinese, it will be somebody else. For now, it is a them. Those who sold their shadows are happy to have sold them. Are happy tous have sold them. Chris it is time for wine tasting. From alignment to food, lets focus on food. He is the patron chef at his own restaurant in italy and the author of the new book never chef. Skinny italian you are wearing the most famous chefs in the world and you are number three in the world. Is it difficult to find inspiration today in and day out . It is not difficult if you live your life as every day, like you say, if you live your life as a dream, the passion comes through and for me it is like contemporary art and music. Art became my landscape of ideas. That is the major point in the focus. Andt an idea from the art maybe i inspired them. I do not know. Camera shooting here to get a look of the food. That looks like it is. A psychedelic of view. Not flame to grill. The titles are amazing. The tides are works of art themselves. Went deeplyok, we into all of the stories behind every dish. Creativity is creativity. Not just we are going to the attention as sauteing kitchen and sauteing onion adding meat. That is what i like. [laughter] ok. We think a lot and sometimes as i explained in the book, it has become a gesture to help people. Cheesemakers,s, [indiscernible] that is one of my favorite artists. Inspired by this spring painting. That is what it looks like. We transform the side dishes into color. Sauce. Ad becomes beets became a sauce. Onions butu saute your purpose is a lot more. Art design good taste. You are like the renaissance man. Wow. Is a really told me that. Something like that. They told me that. Something like that. The way you think. Fooday you approach the that is different. Creativity is creativity. Whether creativity in the 19th entry or down, i choose that. Thats covered is not the trendy cover that covered is not the trendy cover. And thee done renaissance in the 19th century or now or on a university. It is about creativity and the recipes added the at the end. We talked about designing a watch. A crater the man who can branch out into all other different. You are not only a shift in your mind . In my mind, i am a chef. I love to think. And id love read to get deep into things. I love to touch the paper and make the visible things. If you have camouflaged as a dish and reading the book also picasso, it is all about that. And is very important and we grew up for that. I am curious about you saying for us. Us and we. The team is the most important thing you have to stop the team is modern. We are 40 people for 20 it covers. A pretty big ratio. You talk about we as well. You see yourself as an investor. You are an italian chef. You see yourself as an abbasid are. Food is a way of life in italy. You see yourself as an a mbassador. You have done Different Things with food. Is important to seafood in a the greeks have said we eat to contemporary way. ,ive and the romans switched it we live to eat. Italy is l