and the firms, and bain capital leading the way, driving transformations of businesses. e had excellent returns for our investors, and we have created a global firm with 1000 people and $100 billion in capital that stems from the tornings of bain and company really have companies grow again. i think the industry has grown because it is a great business model and there is plenty of room out there, you are seeing many more companies go through many rounds, from venture to midmarket all the way up to large cap deals. geo just raised something greater than $10 billion. that could not have been done 25 or 30 years ago. global, and is no it spans every asset class. i think with the state of low interest rates and how high the markets are right now, people are turning to alternate assets to capture that. ke is a best poke -- bespo business and people can get great returns. .mily: thanks, steve pagliuca thanks to our tv viewers and radio listeners. this is bloomberg. ♪ >> good evening from bloomberg. we are counting down to asia's major market open. i'm shery ahn in new york. >>

sticking with aviation, bain capital looks at it. the airline collapsed back in april.ed for the details. ishear a lack of engagement why they called it out. >> it almost seems like a form of ghosting. --y have not recalled returned emails or meaningfully engaged. both bidders were aiming for a smaller brand. had planned to bring their headquarters to queensland. we will have to wait and see. they are in deep, deep trouble. they had lost money for seven consecutive years. they collapsed and the government refused to help. haidi: paul allen in sydney with the latest. let's get a quick look at headlines. the latest figures show u.s. airlines are still struggling to get back in the air. the number was just under half a million. that is better than the previous week. u.s. carriers are currently operating at 40% capacity. nike revenue fell 38%. than a estimates by more billion dollars. nike says it has devised an online strategy. but booming e sales were not enough to make for lost revenue. of nike's biggest endorsers, lebron james, is on the cover of this week's bloomberg b

support it simply you know do on the one i'm trying so desperately to clean up the carpets so in a bain capital kind of memory has to be both of you at the same time here in ohio it's a game yeah it is focused on trying but the danger is here to take out trump as it were if you. you're going to create institutional damage because i don't think they want a grand transformation just the opposite they want to know joe biden nothing will significantly change this course by trying to take trump out does incur massive institutional damage i mean they want poll at the same time you can't have oh ok so i mean at i think they do want to keep the institutions that they had under bush under clinton bush obama and yet became rich yeah they want that for example they want that war machine intact they want the globalism intact they want the manufacturing that's that has left the united states they want that to continue so they do want the institutions the wall street intact and i'm not saying that trump doesn't support those very same institutions i'm not saying that but in their mind in their mind trump is

to put millions of dollars into this great private equity fund mitt romney you know over there bain capital all hell you know will make a lot of money for folks well no mitt actually you down and that's a giant scam well all our presidents all are former treasury secretaries all our federal reserve chairman they all work a private equity or hedge funds and write the presidency is just a way to get something on your on your resume so that you could leave and then do something like productive in your life all right well we'll take a break and when we come back much more coming your way. we go to work. straight whole. thing. welcome back to they report imax ties are time now to turn to stephen call it if it's going has that investor stephen call welcome to the kaiser report and welcome back thanks for having me so let's discuss inflation and war so one of your recent quotes is that bitcoin lets you legally opt out of the inflation tax can you elaborate on this what's war what inflation stay in absolutely the endless war that is all are around us all the time that we've gotten way too used to t

to put millions of dollars into this great private equity fund mitt romney you know over there bain capital all hell you know will make a lot of money for folks well know mitt actually you don't and that's a giant scam well all our presidents all our former treasury secretaries all our federal reserve chairman they all work a private equity or hedge funds and write the present. say it's just a way to get something on your on your resume so that you could leave and then do something like productive in your life all right well let's take a break and when we come back much more coming your way. we go to work some straight home. the simple things workshops and peter's back up public spaces where adults with learning disabilities can engage on equal terms with creative activities like graphics sewing ceramics. cookery and joinery. just really could do you should what's in your records. for your part just as what it really of one case a couple of. the underlying idea of the workshop is a calendar of happiness which they fill for a whole year to find joy in the little things of. god are sick i gue

to put millions of dollars into this great private equity fund mitt romney you know over there bain capital all hell you know will make a lot of money for folks well no mitt actually you down and that's a giant scam well all our presidents all are former treasury secretaries all our federal reserve chairman they all work a private equity or hedge funds and write the presidency is just a way to get something on your on your resume so that you can leave and then do something like productive in your life all right well we'll take a break and when we come back much more coming your way. in the troubled 19 seventies a group of killers rampage through parts of northern ireland that was coordinated loyalist attacks protecting only catholic population and tens of thousands were forced to flee their homes and what was striking to put these attacks was that the are you see the police actually took part in the attacks so instead of preventing it they were active participants in the burning of full streets in belfast at the take more than a 100 innocent civilians women. as the review can seniors and we

to put millions of dollars into this great private equity fund mitt romney you know over there bain capital all hell you know will make a lot of money for folks well no mitt actually you down and that's a giant scam well all our presidents all are former treasury secretaries all our federal reserve chairman they all work a private equity or hedge funds and write the presidency is just a way to get something on your on your resume so that you could leave and then do something like productive in your life all right well we'll take a break and when we come back much more coming your way. we go to work so you stay whole. get. that. fixed. and so are you can't get away from advertisement to change your appearance. many local people see plastic surgery as a prerequisite for a successful career employers are often most interested in a job seekers appearance as a graduation present parents often give builders plastic surgery for an extra fold in the eyelids to make their eyes look they go. almost every korean teenager dreams of looking just make them pay idols. welcome back to a report imax keyser

to put millions of dollars into this great private equity fund mitt romney you know over there bain capital all hell you know will make a lot of money for folks well know mitt actually you don't and that's a giant scam well all our presidents all are former treasury secretaries all our federal reserve chairman they all work a private equity or hedge funds and right at the present. see it's just a way to get something on your resume so that you can leave and then do something like productive in your life all right well let's take a break and when we come back much work coming your way. some control from the middle. of the night most of them are very hardworking people who want to get ahead that have either have some some health issues or have some of them had a stroke of bad luck the whole time is paying for a place to live and missing just a month's rent can get she was a victim. if anything bad happens to any thing that just throws your budget off slightly. better catch up real quick or you're going to have a judgment of possession against you and get a ticket anyone that's homeless is tre

industry.ked the we'll discuss bain capital's bold move to by virgin airlines -- to buy virgin airlines coming up next. this is bloomberg. ♪ david: welcome back to the show. it is all coming together for virgin australia. about an hour back, bain capital now sending a deal to acquire the airline after cyrus capital dropping out, saying the administrative deloitte failed to engage. it has been reviewed by the board of australia. paul allen joins us from sydney to talk us to the details. what do we know? paul: we know that it is going to be based in queensland, at least according to the queensland government, saying the virgin headquarters will be staying there. bothalso understood that businesses were aiming for a smaller, single branded, domestic short-haul of flights. there's an thousand jobs at stake -- 10,000 jobs at stake and some losses are certain, as we saw at qantas, slashing its workforce is the airline industry struggles in this varmint of coronavirus. but it could've been ash this environment -- this environment of coronavirus. but it could've been so much worse. the governme

bain capital has agreed to buy virgin australian. the terms of the deal were not disclosed. ays a significant amount of capital will be injected into the airline to wipe out virgin -- global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i am ritika gupta. bloomberg. ♪ >> especially with texas being one of the largest gdp contributors, it is concerning. impact will lead to several other states closing down officially, putting in those quarantine measures, and if that happens to us, that will setback the economic recovery that has been going on since april. an of wellsnna h fargo and this program about an hour and a half ago. alongside tom keene together with lisa abramowicz, i'm jonathan ferro. need an hour without the stupidity of my colleague, mr. tom keene. i will be catching up with mom and el-erian. over to you, tom. tom: thank you so much. greatly appreciate that. mohamed el-erian will be fascinating. it is a treat to bring in brad setser. it was a young guy when the papers came o

bain capital is said to be hiding a stake -- eyeing a stake in italian soccer.are offering around $3.5 billion for eight when he 5% stake. -- a 25% stake. both want to invest in the unit that controls tv rights at a time when soccer and other sports are suffering from coronavirus restrictions. atcoming up, we get a look the state of the travel industry and how hard it has been hit amid the virus upright. is bloomberg. ♪ >> let's get a quick check of the latest business headlines. chinese tech firms are expanding their footprint in hong kong, even as the pandemic prompts some to consider scaling back in the world's most expensive office market. alibaba and the tiktok owner signed up to take on more space in times square. the move follows this week's secondary lifting in hong kong and next week's debut from jb.com. adobe reported rising profits,, even as demand falls for it advertising cloud project. the software maker declared income of over $3 billion for the current quarter. operational costs fell during the coronavirus pandemic. the better-than-expected result

i bring this up because gold starts again in the united states and bain capital seems to be making atake in italy's top soccer league. we call it football, but one of my to call it on this. it is interesting, potentially getting a bid for pain. considering what happened with the football leagues around the world. maybe some of those sports bettors that have been in the stock market, maybe they will go back and take a look at what is happening in the sports market. alix: i had the feeling you were going to bring up sports so i can say things like sports. we are done. ons is it for guy and me "the european close." coming up, david westin will be speaking in an exclusive interview with nancy pelosi. this is bloomberg. ♪ ♪ david: from new york to our tv and radio audiences worldwide, welcome to "balance of power" where the world of politics meets the world of business. i am david westin. we will speak later this hour in an exclusive conversation with nancy pelosi. first let's get a check on the markets with kailey leinz. it is not looking very pretty today. kailey: it is looking ugly. th

they chose private equity firm's bain capital and sarah's capital partners as the last two suitors forou details when we have them. rish? rishaad: bloomberg invest dynamicrings the most thinkers, and one of the participants is joining us from wellington. and it's sheila patel. great to see you. are.us an idea of where we let's have a look at where we are in terms of your business 's been happening at the market. seeing lockdowns easing in some parts of the world and some reinstated. sheila: thank you for having me. so much has changed. we are in an interesting juncture. we are seeing clients shift from the immediate challenges of negotiating this crisis to really saying what are the long-term perspectives i need to think about for allocation and portfolio? what trends will be sticky from these events? i think work from home, changes to health care, processed around the world, the health care industry, obviously the adoption of new technologies, these are some of the trends that will be picky over time and clients are trying to make sure are captured within their portfolio. thingd: shei

bain capital is looking at italian possibilities. in privatea pickup equity interest. in difficult financial situations. are the vultures circling, so to speak. paul: they will be taking advantage of a vulnerable situation. clubs will be open to those kinds of investment. football is the number one sport in the world. it will always be attractive to investors. the game is an obsession for most people in most countries. in our industry, in these difficult times, even in recession, it is attractive to investors. i do not think that has changed. anna: thanks very much. we will see what difference it makes in the national news. ceo.barber, club thank you for joining us. coming up, nike takes a knee. eenth a paide junet holiday. this is bloomberg. ♪ year welcome back to the in market open. it is friday. we are 63 minutes into the session. pointing to the upside after heavy losses in yesterday on the stock market. nike has told employees that june 19 will become a paid holiday. a day also known as juneteenth marks the end of slavery in the united states. it is the latest mov

bain capital is said to be eyeing a stake in top-level italian -- putting it in direct competition withal. they are offering $3.5 billion in a stake. they offered 2 billion dollars for 20%. both want to invest in the unit that controls tv rights at a time when soccer and other sports are suffering from coronavirus restrictions. the u.k. is said to be formally set to rule out the brexit extension for the deadlines during talks with e.u. officials later on today. let's bring in derek wallbank for more details. of course, brexit does not stop just because there is a pandemic. in the background, all of this is still dragging on. what more do we know about what we expect to hear later on today? way to is a really great phrase this because when you are looking at the difficulties that the u.k. in the european union are having in terms of their deadline,tead of the the coronavirus does come to the fore. it's complicated a lot of this. the latest thing we have is that the u.k. will introduce a temporary light touch customs regime at its border with the european union next year. in an attempt to

capital company had bid. hasre now hearing that bain committed up to $1.25 billion australian to relaunch virgin australia.king for clarity as to what this looks like on the other site, given there is talk about it being relaunched as a smaller outfit. this as qantas goes through its own structural pains to deal with these travel restrictions and the complete destruction in travel demand. virgin australia shareholders are some of the biggest names in aviation. coming up, falling prices are hurting australia's coal miners, but there is one commodity that is defying the slump. that is the continued strength in iron ore. we get the forecasts next. if you are away from the screen, find in-depth analysis and the big newsmakers on bloomberg radio. we are broadcasting live from our studio in hong kong. you can listen at bloombergradio.com. this is bloomberg. ♪ haidi: australian coal miners are feeling the brunt of the slump in commodity prices, but there is one commodity continuing to defy the malaise. that is iron ore. let's get more from our reporter david stringer. let's start off with thermal coal prices. in

is a sale going on at the moment, and it looks like it is going to be sold to bain, one of the other bidders as far as capitalplaints about the sale price. shery: does this make qantas stronger in its position in the domestic market, perhaps even though it will get smaller in the near term? dave: obviously it will be smaller, about half of its traffic is international roots and those are closed, and not likely to return for a couple of years, at this stage, qantas says. but all those those international roots -- but although those international considerable, they are only about half of its profits. you have to fly long distances, put your crew up in hotels, so it is less profitable. so it has been reduced to the more profitable part of its business. for a long time, i have been writing that qantas should focus more on the domestic end of its business. and also, it is an opportunity to do other things that should have done for a while. it is grounding its fleet of a380s, huge gas guzzlers, hard to fill up. this is something it should have done a long time ago. so essentially, it is doing a lot of things that a