the ultra cool soho house club loves travelers and now investors.t's bring in the ceo brought to us by our friend and former host of the show and wilfred, we haven't talked my sympathies on the england match in euro 2020 thank you for bringing us our next guest >> those sympathies are appreciated. by our next guest who is probably watching that on his place. nick jones $3 billion valuation as brian said congrats on that, nick welcome. >> thank you, wil. thank you for having me on >> i want to touch not on the ipo, but pandemic question you are spread all over the world. different rules and regulations. how tough was that how big is the bounce back with the clubs you have been able to reopen >> it has been very challenging. the great thing is the loyalty of the members they stopped by and came to the clubs when they reopened the uk, where i'm from now, is reopening on monday. our members are coming back to the houses america, the same. europe is a bit slower asia is a bit slower you know, what we are seeing is a really big convincing bounce back >> y

the membership collective group, parent company of members club soho house went public today, listingthe new york stock exchange the company raised $420 million valuing the company at 2.8 billion the i.p.o. price at $14 a share and began trade at $13.15. founder and ceo nick jones joined me earlier, he commented on the different stages of post-pandemic reopenings for his 30 clubs all over the world. >> obviously it was very challenging but the great thing was the loyalty of our members they stuck by us, came to the clubs when they reopened what we're seeing now, the uk, where i'm coming from now is opening properly on monday and our members are definitely coming back to the houses. america the same europe is a bit slower and asia is a bit slower. what we are seeing is a really big convincing spout. >> they have 119,000 members and retained 92% through the pandemic part of the funds raised will go to global expansion which he touched on as well as the digital membership app. >> what our members love most is the opening of new houses we're opening in rome, paris, tell v - tel aviv. what

the company behind soho house sells 9.6% in its trading debut after raising $420 million in its ipo,d range. the company, which turned a profit loss of $93 million in the 13 weeks ending april 4, compared with $45 million in the equivalent. of your -- equivalent period a year ago. the company had $826 million in debt. that is the bloomberg's has flash. anna: laura wright in london. german chancellor angela merkel had what is likely to be her final trip to washington as leader, where she and president biden discussed china, russia, and the nord stream 2 pipeline. this is merkel's 23rd official visit to the united states. joining us is bloomberg's reporter in berlin. thank you for being with us. nord stream 2 clearly a hot topic on the agenda, one they are not on the same page on. is this still divide the two allies? >> yes. last night, biden made it clear that he had merkel do not see i tie on the project. when he became president, the project was 90% completed, and it is expected to be completed this year. it is more of a question of instead of going down the sanction route that pres

pete gee awe chi we'll talk more about that i want to talk about membership collective this is soho houseate series of clubs out there. 30 million shares at 14. that was the low end of the price target, 14 to 16 these aren't software companies. not necessarily membership clubs like this. still doing very good. this backed byron berkle finally i want to give the nasdaq some due. phillips edison coming this is a neighborhood shopping centers. this is a reit i know that doesn't sound very exciting they price right at $28, the low end 28 to 31 they're very big on large grossers grossers are the anchors and they think that's going to distinguish them we'll keep an eye on that. groceries have done very, very well throughout the pandemic 15 ipos this week. 15 that continues the crazy numbers we had back in june, so that's very important here, year-to-date up 18%. i said this before i'm happy there's a lot of them. i'm happy that they're doing well, but after the first day they trade down. most of them do. this is a problem that's a little unusual and the average ipo price, the percentage above i

. >> reporter: sources tell cnn the white house has been involved in forming a deal between a soho new york gallery owner george burgess and hunter biden to attempt to address any ethics concerns. two sources familiar with the arrangement say neither hunter biden or the administration will have any knowledge of who has bid or purchased the artwork. it will be kept anonymous. and, if there is any unusual behavior, like the offer price is too high, the gallery is expected to turn down the offer. >> the right answer here would have been to agree publicly to disclose the names of these purchasers to the public. the public could in that case could have tracked whether or not these buyers were getting pref preferenceal access in return for paying ex-orthese amounts. >> here's how i look at it. i said the foul line is 15 feet away from the basket. never get me closer than 17 feet. it really have a matter of public trust. >> reporter: today the white house responded to questions over the sale of hunter's art. >> after careful consideration, a system has been established that allows hunter bide

. >> reporter: sources tell cnn the white house has been involved in forming a deal between a soho new george burnlgess and hunt biden. it will be kept anonymous. if the offer price is too high, the gallery is expected to turn down the offer. >> now they've created opportunities for people to try to get preferential treatment without even having to pay the price. this is just really an amateur mistake. >> reporter: at the start of this administration, president biden vowed to avoid the perception of conflict of interest. >> here's how i looked at it, the foul line is 15-feet away from the basket. never get any closeer than 17-feet. because it really is a matter of the public trust. >> reporter: in response to concerns over the sale of hunter's art, the white house in a statement to cnn says the president has established the highest ethical standards of any administration in american history. in his family's commitment to rigorous processes like this is a prime example. on the gallery website, hunter's biography does not mention he is the son of the president. instead, detailing his art

. >> sources tell cnn the white house has been involved in forming a deal between a soho new york gallery owner and hunter biden to attempt to address any ethics concerns. two sources familiar with the arrangement say neither hunter biden or the administration will have any knowledge of who had bid or purchased the art work. it will be kept anonymous. and if there is any unusual behavior like the offer price is too high, the gallery is expected to turn down the offer. >> now they have created opportunities for people to try to get preferential treatment without even having to pay the price. this is just really an amateur mistake. >> at the start of its administration, president biden vowed to avoid even the perception of conflicts of interest. >> here is how i look at it. i said the foul line is 15 feet away from the basket. never get me closer than 17 feet because it really is a matter of public trust. >> in response to concerns over the sale of hunter's art, the white house in a statement to cnn says the president has established the highest ethical standards of any administration in hi

house republicans planned to do about it, finally. stay there. >> laura: hunter biden's artwork is on display at this gallery in trendy soho neighborhood where it's being reported in some of his pieces could sell for up to a whopping half a million dollars. >> laura: that's quite the price tag unless your last name is biden. hunter isn't the only biden benefiting from joe being in the white house, his brother frank and sister valerie are also apparently cashing out. joining me now is congressman jim comber. if you sent a letter to the white house demanding all the documents about all of this, what can you tell us about biden's siblings in addition to everything else we already know. >> no objective american would think any of these deals pass the smell test. we know about hunter biden's dealings with ukraine but recently his brother is doing tv ads for a law firm but he's not a lawyer, his sister is writing a book but she's not an author and now we find out that hunter's new side gig is he is an artist selling art that looks to me like something you would see on the bargain shelf at t.j.maxx for prices as high as 500,000 dollars to undisclosed do