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reporter john blackstone gives us a preview. it would seem hard to improve on monument in the world attracting 7 million tourists a year. >>> an attraction opens at one of america's greatest treasures tomorrow. >> yosemite is opening a growth containing some of the world's oldest and largest sequoia trees. john blackstone gives us a preview. >> reporter: it would seem hard to improve on the grandeur of you -- yosemite national park, a place that attracts about 4 million visitors a year. but for three years, one of the park's natural wonders has been closed to the public, while it underwent a makeover. to provide a better view of giant sequoias. trees that can grow more than 250 feet tall. here in yosemite national park, the mariposa grove has trees so big it's hard to fit them all in our picture. but a $40 million restoration project is making it better than ever to see these trees in person. how is this different than what was here four years ago? >> where we are right now, there was a diesel fuel station for the trams. >> repo

jeff. >> john blackstone.nk you. >>> still ahead here, kate spade's husband reveals more details about their life together and the designer's suicide. melatonin is the body's own sleep ingredient. only remfresh uses ion-powered melatonin to deliver up to 7 hours of sleep support. number one sleep doctor recommended remfresh - your nightly sleep companion. available in the natural sleep section at walmart. >>> kate spade's husband andy said in a statement he is heartbroken.% he and the designer had been living apart for ten months said his wife had been getting help for depression and anxiety for five year. he said there was no indication and no warning that sunny would do this. it was a complete shock. and it was clearly wasn't here. there were personal demons she was battling. >>> there were handshakes and hugs as congressman, steve scalise returned. nearly a year ago gravely wounded by a gun man who opened fired on republicans practicing. scalise took swings and ground balls. nancy cordes will take us behind

shell is partnering with blackstone. they came in may. chevron with another. bp is pursuing them alone. we will wait to hear more on those details. to receive $10 billion as bidding for the entire unit proceeds to a second round, 13 billion dollars expected if it sells the assets piecemeal. still ahead, aiming to raise the bar for what it takes to be a cure crypto exchange. we will find out how later in the show. says thet, bnp priebus biggest loser could be the united states. this is bloomberg. ♪ haidi: the clouds are clearing , wednesday morning in sydney. we are counting down to the open of trading in australia. futures mildly positive, global stocks taking a breather from that equity rally overnight. tech was the standout in the overnight session. am ramy inocencio in new york. you are watching "bloomberg daybreak: australia." stocks splattered, the s&p 500 extending that 12-week high. let's bring in steve friedman, bnp paribas asset management's senior economist and held various positions at the new york fed. i want to get your initial reaction to the nei

jeff. >> glor: john blackstone, thank you.ad here, kate spade's husband reveals more details about their life together and the designer's suicide. everything for his well-being. but meningitis b progresses quickly and can be fatal, sometimes within 24 hours. while meningitis b is uncommon, about 1 in 10 infected will die. like millions of others, your teen may not be vaccinated against meningitis b. meningitis b strikes quickly. be quick to talk to your teen's doctor about a meningitis b vaccine. (cat 1(cat 2) smell that? (cat 1) gravy! (catth, th's extra gravy. (cat 1) whoa! (cat 2) that's new friskies extra gravy! paté and chunky! (cat 1) gravy purr-adise. (cat 2) purr-adise? really? (vo) feed their fantasy. friskies. and help you feel more strength & energy in just 2 weeks. i'll take that. ensure high protein, with 16 grams of protein and 4 grams of sugar. ensure® i'm still giving it my best even though i live with a higher risk of stroke due to afib not caused by a heart valve problem. so if there's a better treatment than

for now, john blackstone has the good news about the pilfered toches. >> reporter: all the stars aresent and accounted for this weekend at woofstock, a dog show in vallejo, california. but getting to the show left many of the dogs here with little to wag about when 14 of them were dognapped, leaving their owners distraught. tr this has been the most stressful days of my entire life. those dogs-- all of those dogs, just not my dogs, everybody else's dogs-- these dogs are like their kids. these dogs are like my kids. m> reporter: a van carrying the show dogs from seattle to california was stolen when the driver stopped briefly to eat a hamburger. >> never have i seen this where a full van full of dogs, especially show dogs, have been stolen. this is definitely a new one on us. >> reporter: security cameras caught a photo of the suspected thief. law enforcement launched an immediate search. the pampered pets were in clear danger. >> they are my heart and my soul and my absolute life. that's all-- i just want them to iow that i'm still here and i am still-- i didn't abandon them or-- or-

john blackstone cbs news, in the mariposa grove, yosemite national park. >> ninan: next on the cbs weekendather's day celebration decades overdue for a wrongfully convicted dad. now fight both fast new tums chewy bites with gas relief all in one relief of heartburn and gas ♪ ♪ tum tum tum tums new tums chewy bites with gas relief shouldn't drive us apart. but when you experience sudden, frequent, uncontrollable episodes of laughing or crying that are exaggerated or simply don't match how you feel, it can often lead to feeling misunderstood. this is called pseudobulbar affect, or pba. a condition that can occur from brain injury or certain neurologic conditions like stroke or dementia. nuedexta can make a difference by significantly reducing pseudobulbar affect episodes. tell you doctor about medicines you take. some can't be taken with nuedexta. nuedexta is not for people with certain heart conditions. serious side effects may occur. don't take with maois or if you are allergic to dextromethorphan or quinidine. tell your doctor if you have bleeding or bruising. stop if muscle twitching, co

john blackstone, in the mariposa grove, yosemite national park. >> that will do it for us here on theernight news" this tuesday. for some of you the news continues. for others hope you will check back with us later. for the morning news and of course, cbs this morning. from the broadcast center in new york captioning funded by cbs >>> it's tuesday, june 19th, 2018. this is the "cbs morning news." the trump administration digs in on its zero tolerance border policy. >> the united states will not be a migrant camp, and it will not be a refugee holding facility. it won't be. >> why lawmakers on both sides of the aisle are calling for an end to the separation of families. >>> and fast-moving thunderstorms strike parts of the northeast bringing down trees and knocking out power. >>> he

martin: the big ass class is still real estate, and you can .ust see that with blackstone certainly from of view, that is where we see it. you are seeing liquid alternatives, fund of hedge funds, fund of property managers. you are giving up a bit of liquidity for an enhanced yield. vonnie: why hedge funds? in a down market, they do really well and their strategies work and we have seen a cou good months. essentially, we are still in a bull market and it has been a tough time. martin: they tend to be -- a lot of them tend to be market neutral. when markets go up, it is not great to be market neutral. it is better to ride the tide up. bit more volatility coming back into the market, which i would expect with these very high asset prices, we will see the multi-asset sector,biggs world, we will see it do well because that provides you with the down protection. in real estate, what are you doing? are there geographies you are running from? are there types of real estate you are running from? martin: the area everybody is worried about is the high street , especially in the u.k., where we have

. >>> we specialists miker flesh her spoke with us on tshe ah rn blackstone virginia. >> reporter: confirming the dangersspiecies. this weed is mutual towerg up to 14 feet with white flowers three feet across,e purplpots >> those two featur plumber spots and those course white hairs really help distinguish it from cow snip, queen anne's lace all can look similar >> it's anel. it will come back year after year. leave removal up to the expertiser with a p knowledge and the pper gear. >> some kind of suit to tyvek suits would be appropriate >> what would you do? if you spot it? don't take chances call officials of course don't storm surge it. it is a high likelihd it is one of those look like plants, but agriculturalicials don't want to table chances, we have all the contact information on line at fox5dc.com. in great falls, anneutler fox 5 local news. >>> a warning in anne arundel, the hunt for chinese crab is back on. smithsonian released this flyer today. they're asking boaters to report sightings because they cause erosion and threatens levie esapeake beach.ottedch in you're asked toake a cl

the recent manager who is an exception to that is blackstone. in fact, i think ltb levels are probably lower than what they were in our core legacy portfolio. beyond that, we have been less aggressive in adding to our real estate portfolio relative to our private natural resources portfolio. and it was our intention to commit to about 50% real estate and 50% natural resources. we didn't quite get there because the market moved on us. the commodity prices didn't stay low for as long as we would like. but for those three years, we were backing up the truck, absolutely. and should be positioning those commitments for returns in excess of 15%. and certainly on paper they're looking like that. the market rebounded a bit quicker. we didn't quite get to the 50/50 allegation that we were roughly targeting. but there's ways that we can mitigate some of the end of cycle issues that real estate will be facing. >>> when i listen to this, i think that we really have to commend staff for putting a lot of this in front of us. i remember it came to a new board

consultant, a reverse inquiry asking us about our senior loan product, which is advised by cfo blackstonewhen we sat there, we were talking about not just how they manage the investments but also, too, they were really testing the wrapper itself, the etf wrapper and the liquidity of the wrapper. so we are seeing positive green shoots there. scarlet: let's talk a little bit about liquidity as well. when you look at volume and liquidity, everyone is trained to look at an etf's trading volume and draw conclusions from that. but it can be misleading. you can create new shares if the basket is liquid. if you look at spyv, it trades at $182,000, but implied liquidity is $182 million. if we pull up a function on the bloomberg there, that is equivalent to $5.5 billion shares traded, which make it more liquid than apple. are institutional investors comfortable with using this implied liquidity, moving on that? kat: they are getting more comfortable. and if you look at why, the higher volatility days, more liquidity centralizes on the etf. so clients are aware of that. also, if you look at a tradit

john blackstone spoke to some of the owners. >> reporter: all the stars are present and accounted for this weekend at the dog show. getting there, left many with little to wag about. 14 were dog mapped. leaving their owners distraught. >> this has been one of the most stressful days of my life. all of those dogs, not just mine but everyone else's -- they are everything to them. they are like my kids. >> a van carrying the dogs was stolen when the driver stopped briefly to pick up a hamburger. >> never have i seen this were a van full of dogs has been stolen. this is a new one on us. >> reporter: cameras caught a photo of the suspected thief, law enforcement wants to launch an immediate search. the pets were in danger. >> they are my heart, my soul and my absolute life. i just want them to know i am still here and i did not abandon them but i want them to know i love them. >> reporter: in remote words, highway patrol helicopters spotted the abandoned fan. the docs were found inside. a little stressed, but otherwise ready to get on with the show. >> so relieved, everyone came to give me

sector is huge and that's how the housing sector the largest private land lord in the states is blackstone group so this is a huge private equity group and they own the biggest section of they've bought up on the cheap all the properties handed out by basically fannie mae and freddie mac. for them to take over during you know during and after the financial crisis they also have a majority of the a.t.f. market the exchange traded fund market which is just a rant a system of putting black rock in a position to scrape money away from pension funds in another land grab money grabbing way completely unnecessary again he talks about it's not necessarily on paper absolute poverty because the america has on paper one of the highest income levels in the world is something like the fourth or fifth highest after several small european countries but the average american has a relatively high income that of a person an anomaly rich country only his income does not go very far most of it is not by attempting to afford the basics of life we've already seen how steep health care costs are but then there i

david: blackstone is offering discounts. >> that is right. the infrastructure fund that was announced two great fanfare in saudi arabia. a number of people were there with the president of the united states. infrastructure has been the white whale for private equity firms. david: nobody can find it. >> your got a couple of big players being the best known -- you have got a couple of big players being the best known. otr firms, like kkr, like blackstone, have not been successful in doing this. it is not a surprise they do have a big backer in saudi arabia. it is surprising they have been able to galvanize investors. alix: how about $42 billion. that leads to our next story. that is how much was wiped out in cryptocurrencies. it looks like a hacking of a south korean exchange. it is the dynamic between bitcoin and blockchain. least,oin, to say the especially in asia, have been skeptical about bitcoin specifically. it has not been endorsed by regulators they are as it has around the world. what you have seen, you see the is-year chart, the trend

shell has teamed up with a private equity firm, blackstone. would be the first strike since 1997. a have negotiated more leverage to replace a contract that expires at the end of july. ups says it is confident it could reach an agreement. more changes in the top parade that deutsche bank. leaving.eads are deutsche bank ceo is scaling back the advice and has promised to cut the number of senior executives. that is your bloomberg business flash. alix: it's been a meeting for the future of q you. -- qe. >> next week the governing council will have to make this assessment of whether progress so far has been sufficient to warrant a gradual and winding of asset purchases. alix: with us, before we get to say how you are playing today, what is your base case for what the ecb is going to do next week? >> we are going to see it when the banks make a choice to remove the basis points alone or look at their opportunities. do they have the first available repayment or they can accelerate? does a bank reduce its position the the ecb on the first of tro? tha

blackstone is nearing $5 billion for its first round.e marked the third biggest initial close for first round across any investment strategy, that is behind the bank $100 billion vision fund. they got a big pledge 13 months ago from saudi arabia. apple is going to pump up the volume on its device strategy. studio quality over your head -- could be coming next year. they are planning water proofing, biometrics. expect a higher price tag. yvonne: water resistant -- i am ready to use those on my swim. we are counting down the market open. we are set for some declines here today. the u.s. stock market really selling off overnight. they could potentially be restricting investment from china. we heard from peter navarro as well trying to calm some nerves out there. we are seeing declines across the board. down 0.75% right now. looking at china markets right now, the chief of investing partners at capital international. we are a breath away from reaching a bear market. his views on the renminbi as well. we have seen nine days of selling. 6.53.

sector is huge and that's how the housing sector the largest private land lord in the states is blackstone group so this is a huge private equity group and they own the biggest section of they've bought up on the cheap all the properties handed out by basically fannie mae and freddie mac. for them to take over during you know during and after the financial crisis they also have a majority of the a.t.f. market the exchange traded fund market which is just a rant a system of putting black rock in a position to scrape money away from pension funds in another land grab money grabbing way is completely unnecessary again he talks about it's not necessarily on paper absolute poverty because the america has on paper one of the highest income levels in the world is something like the fourth or fifth highest after several small european countries where the average american has a relatively high income that of a person an anomaly rich country only his income does not go very far most of it is not by attempting to afford the basics of life we've already seen how steep health care costs are but then th

sector is huge and that's how the housing sector the largest private land lord in the states is blackstone group so this is a huge private equity group and they own the biggest section of they've bought up on the cheap all the properties handed out by basically fannie mae and freddie mac. for them to take over during you know during and after the financial crisis they also have a majority of the a.t.f. market the exchange traded fund market which is just a rant a system of putting black rock in a position to scrape money away from pension funds in another land grab money grabbing way is completely unnecessary again he talks about it's not necessarily on paper absolute poverty because the america has on paper one of the highest income levels in the world is something like the fourth or fifth highest after several small european countries where the average american has a relatively high income that of a person an anomaly rich country only his income does not go very far most of it is not by attempting to afford the basics of life we've already seen how steep health care costs are but then th

shell submitted a bid with blackstone in may.ting to receive $10 billion or more as bidding for the division proceeds to a second round, and $13 billion if it sells the assets piecemeal. xiaomi has added six chinese banks for its hong kong listing, expected to be the world's biggest ipo in four years. will act as global coordinators. seeking $10 billion from the ipo to be hong kong's first with a weighted voting rights structure. rishaad: standard chartered may , --ooking to add to hubs two hubs, singapore and hong kong, as it looks to simplify its net work and cut costs. russell, tell us about the story. chartered isard looking at creating two hubs according to people familiar. as an emerging market bank, it has a huge network worldwide which can make it complicated to do business and keep costs down. would help to cut costs, simplify management, and help streamline capital and oversee assets better. in recente bank that years has had quite a few problems with bad loans in the .egion they also had problems in south korea. bill w

i presume you have talked to blackstone about this major new insurance initiative that they are undertakingi have not. >> doesn't make sense to you? that they should be able to package privately originated credit into products specifically designed for the insurance industry? have been working on alternative capital for a long time. sorry, i thought there was something else. ofhought the disaggregation having to link your capital to the work you do to underwrite with data and analytics is completely possible. we are using alternative capital. of having to link yourwe use our so take risks, we won't have to have $22 billion 10 years from now. we will get it from other people. we will securitize into bonds. we will need less so we can make more money on our shareholders money by spreading that goodwill and intangible for a few dollars. >> thank you. wilson, the ceo of allstate. we will be back soon with more. vonnie: can't wait to tune in again. that is live from the aspen ideas central. breaking with convention now we were bringing you to stocks that are now becoming one. session,eat start t

. >> caller: my stock, long-term hold three to five years the name of the company is blackstone. >> ifime frame, that is great, the yield is good reinvest and you will do fine. sharon in noew york. >> caller: hi, how are you>> do. thank you for calling. >> caller: i lov show and have been watching for years this is a question for my son who is currently at work he worksmanhattan, otherwise would have loved to talk to you. what do you think of corning, grw? >> week hold same group as oled i am going to say pass david in new york. >> caller: i need your help with ticker san >> you have got to take a pass great long-term run there. but spain is problematic how about dave in illinois. >> caller: dr. cramer. >> how are you >> caller: good. sorry about the disinvite with the eagles but we like the stock in the past, but what about now, ew >> funny you asked because medtronic had a big meeting today. and it is the rival.ew is stilla big product line the stock is still going to go higher charlie in pennsylvania. >> caller: long time fanme calle >> there y >> you think of usb? >> us bank corp,

john blackstone got an early tour. >> reporter: it would seem hard to improve on the grandeur of yosemite, a place that attracts about 4 million visitors a year. but for three years one of the park's natural wonders hasn closed to the public while it underwent a makeover to provide a of giant sequioas. trees that can grow more than 250 feet tall. here in yosemite national park the mariposa grove has trees so big it's hard to fit them all in our picture. but a $40 million restoration project is making it better than ever to see these trees in person. >> completely restored. it's just a more tranquil and have a more serene experience. >> reporter: frank dean is president of the yosemite conservancy, a non-profit that raised $20 million for the restoration of the grove. the national park service put in another 20 million. how was this different than what was here four years ago? >> where we're standing right now there was a diesel fuel station for the trams. so now what you have is the first view you get as you see it framed by two or three giant sequioa trees. >> reporter: the goal was to t

company has agreed to a $3.8 billion acquisition by blackstone.now values lasalle shares a higher price than blackstone. --illionaire is embracing while warning of bitcoin. blockchain could change our world while bitcoin could be a bubble. denmark's new business ministers says bigger fines are needed for financial crimes. issue arnment will tougher proposal for tougher penalties for the danish parliament this fall. scandallows the bank which showed an estonian unit of used to launder billions dollars in illicit funds. that is your bloomberg business flash. alix: oil prices under pressure today. opec says they will raise prices to get back to 100% compliance. they were at 150% compliance, that might look like one million barrels a day increase. maybe russia can give 220,000 barrels a day. joining us from london is harry to chilling guardian -- is harry tchilinguirian and brian nick. help me out harry. what was your biggest take away indiana -- take away from vienna? harry: the takeaway is that opec reached an agreement. we are seeing a lack of deta

let's begin with our own jason kelly, who sat down with the global head of private equity at blackstoneve is the world right now? >> it's extremely expensive, historically expensive. and weubject to that, have to navigate within that. fortunately, we are only making 12 investments per year, roughly, globally, out of our global buyout fund across five key geographic regions. and we have 140 people out in the world trying to source transactions. i think we are able to find the 12 or 12 interesting, incidents, but there is no single place where we say it is time to buy, the wind is in the sales. onhink we have headwinds most of the key industries we look at, with the exception of energy about 18 months ago, but that has come roaring back. and when you -- >> and when you think about the recession, globally, and in the u.s., how worried are you that it is looming, and what is the timeline? our 90, looking at portfolio companies and the data we get monthly from them, i would say the economy is globally in good health, and i don't see any signs of that abating anytime soon, meeting in the next

blackstone.are generating a free cash flow yield. ,hey are not incorporated investors can buy them, so we love them. flow. cash in europe we like the company with exposure to rising rates. basically what happened in the u.s. that we think will happen in europe. we are talking about union suisse.bmp and credit >> in the credit world? >> we like europe. today, apple for apple, same credit risk across the 60 largest financial institutions in the world. in the state's 3-4%. in europe, 7-8% which is very attractive. perspective you we better off taking the risk. it pays you almost as much. >> why is it underpriced? >> it is seen as complex. 80%. they will always feel more comfortable at home. >> that explains it. >> exactly. fascinating interview. thank you as always. , anng up on bloomberg exclusive interview. her take on the central bank. sachs,ear from goldman lloyd blankfein. and a check on the big decliners today. down, trade tensions ratcheting up. losers, it is a down market. >> live from londo

race riot and they're supposed to be an impeachment and i'm supposed to fight russians and i am blackstone supposed to be kickoff fox. [laughter] this one big letdown. greg: i have a theory on this angst that it's an investment and if you invest in something for so long it's difficult to listen your grip on it even when the evidence is there. i hate the red hot chili peppers. worst band was in the history of the world. they might release a decent song but it's hard for me to listen to it even though. tyrus: you committed today. yeah, you've committed to write you do you do when you breathe air so i hit you. that's the deal was from. when he leaves they will follow him. it's not over. rachel will be outside his house wherever he is retired at and i have more tax returns. it's not over yet. they will literally give him an extra year just to try to get him. they're not letting us go. greg: no, they will. joe, i think the media please their psyche mirrors america so they are feeling polarized everyone in america feels the same way. i'm not sure that's the case. >> i think a lot of people espec

john blackstone is in palo alto with reaction. john, good morning. >> reporter: good morning.drew outrage from around the world, but the recall campaign also raised questions about judicial independence. as soon as the vote count began last night, the trend was obvious. judge persky was likely to lose his job here. >> women are standing up and saying enough is enough. >> reporter: it was a night of victory for stanford law professor michelle dobber, who led a chain for nearly two years to remove the judge. >> sexual violence and violence against women is a voting issue. >> reporter: dobber harnessed widespread -- turner was freed from county jail after serving just three months of his six-month sentence for sexually assaulting a woman following a fraternity party at stanford. her searing statement about the impact of sexual assault was read to turner in court and widely shared. >> i accept responsibility for every decision that i've made as a judge. >> reporter: in his only television interview before the recall vote, he defended the sentence. >> you did have some idea before

john blackstone has the story. >> reporter: the ceremony re-o gve concluded a three-year-long makeoveruly a place of giants. here in yosemite national park the mariposa grove has trees so big it's hard to fit them all in our picture but a $40 million restoration project is making it better than ever to see these trees in person. >> completely restored and it's just a more tranquil and a more serene experience. >> reporter: frank dean is president of the yosemite conservancy, a nonprofit that raised $20 million for the restoration of the grove. the national park service put in another $20 million. >> how is this different than what was here four years ago? >> where we're standing right now there was a diesel fuel station for the tramtrams. now you have the first view as you see it framed by two or three giant sequoia trees. >> reporter: the goal was to take out many modern additions, returning the grove to a more natural state, removing pavement and parking lots, restoring streams and wetlands and minimizing the damage from cars and people getting too close. >> you can see that people h

john blackstone shows us why some accuse the paintmakers of brushing off responsibility. >> reporter:d joser glazier purchased -- joseph glazer purchased their home, it seemed the perfect place to raise their children. a year later, their son went for a routine checkup. >> they called and said he had elevated lead levels. we were like, what do you mean? like how is that possible? >> reporter: the glaziers found out that old lead-based paint in the home, built in 1927, was contaminating much of the house. >> the windowsill tested positive for lead paint. you know, he's sitting there watching for daddy, and got sick. >> reporter: the gladoctors fou his lead levels were more than four times the normal. was there guilt as a parent? >> can't each describe it. >> yeah. >> reporter: lead poisoning can cause lifelong learning and behavior problems, lower i.q., and slowed growth. it's a prediction in older homes that's at the heart of a lawsuit against some companies that made and sold lead paint. >> every 5-year-old knows that if you make a meigs you should clean it up. they need to clean up

john blackstone shows us who rules the roost in silicon valley. >> they want to interact with you.rter: scott's chickens make themselves right at home. the software engineer believes he's found the perfect antidote to computers and code and has the big data to prove he's not alone. >> there are thousands, maybe 10,000 chicken coops in silicon valley. >> reporter: online companies are hatching plans for do-i do-it-yourselfers. but the coops and the chickens are really something to crow about. >> she's one o my favorite breeds. i built this coop especially for them. >> this is not your average chicken coop. >> no, it's not. it's right off my kitchen, and i wanted something beautiful. >> reporter: laura menard's custom chicken coops has antique stain glassed chicken coops and details by a master carpenter. >> do you think your chis are happier in. >> well, no, i don't think they care, to be honest. >> reporter: menard breeds heritage chickens that can sell for $50 to $100, far above the 15 price tag for a more common bird. for the valley's growing community of backyard farmers, the in

he set down with blackstone's global head of equity. jason: how expensive is the world right now? is historically expensive. we are subject to that. we have to navigate within that. fortunately, we are only making 12 investments a year out of our global buyout fund across five key geographic regions -- u.s., europe, india, china, australia and japan. we have 140 people trying to source transactions. i think we are able to find those 10 or 12 interesting, idiosyncratic situations. there is not a single industry or country where we say the wind is in our sales, environments can only improve. on mostwe have headwind of the key industries we look at with the exception of energy about 18 months ago. that has come running back and in most of the geographic regions we invest in. jason when you think about the : possibility of a recession globally and in the u.s., how worried are you and what is the timeline? joseph: looking at our 90 portfolio companies and the data we get monthly from them, i would say the economy globally is in good health. i do not see any signs of that abating anytim

is joiningan blackstone to build a $2 billion permian natural gas pipeline. let's take a look at ge, this is a three-day chart. we really want to highlight today's pop a five point 7%, the best day for ge since april 2015 on the news that john flannery is making good on his promise to streamline the iconic american company. they are exiting the health care and oil businesses and will be focusing on power, renewable energy, and jet engines. investors are probably liking this move. up, despite the increase in saudi arabia and oil production. coming up, president trump signed an executive order on family separations at the border, but it has done little to calm the public outrage. from new york, this is bloomberg. ♪ ♪ "bloombergis markets: balance of power." i am lisa abramowicz. david: i am david westin. : president trump is calling today's supreme court decision " a tremendous victory and a moment of profound vindication." justices upheld his ban on travel from mostly muslim countries, rejecting a challenge that it discriminated against muslims and exceeded hi

reporting by cbs john blackstone is credited for bringing attention to the issue with the consumer watchdogs and the lawmakers. a lot of folk coming out against -- folks coming out against this legislation and at the final hour they pulled it. >> thank you. >>> the u.s. supreme court is casting doubt on a berkeley law on cell phone warnings. two years ago berkeley passed an ordinance requiring cell phone retailers to post notices about the potential radiation hazards. the 9th circuit court of appeals upheld the law calling it a permissible regulation of free speech, but today the supreme court vacated that ruling and sent it back to the lower court for further consideration. the high court said it made that move in light of a separate ruling earlier this week. it invalidated a california law requiring pregnant women be nowed about abortion as an option -- notified about abortion as an opposite. >>> golfers win another round in the battle to keep this popular course open for play, the new development in the fight over its future. >> beautiful picture from the sales force tower, what's missing

john blackstone in the mariposa grove in yosemite park. >>> lake tahoe is showing the effects of yearsscientists say clarity in the lake fell to an all time low last year. the extreme drought was followed by heavy rainfall that washed 12,000 tons of sediment into tahoe's waters in 2017. the good news? measurements taken so far this year are already showing improvement. >>> the 1 kpix5 reporter who -- the one kpix5 reporter who spends more time than any of the rest of us at lake tahoe, emily turner. >> you're absolutely right. speaking of clarity, there's not a lot of clarity out there right now taking a live look out of our sales force tower towards fisherman's harvey. it's a bit hazy, -- wharf. it's a bit hazy with the marine layer starting to come in. 60 degrees now in san francisco, pretty cool, santa rosa 76, concord out of the 80s now 79, 65 degrees in oakland thanks to the sea breeze. the satellite and radar shows this low pressure system. it has dropped down and will continue to drop down, with it the temperatures dropping. it's brought more onshore flow, the sea breeze i just m

bloomberg, bp and chevron are among the bidders, while shell has also submitted an offer with partner blackstone bhp reportedly expects to launch a second round of bidding as early as july. representatives from the companies have denied to comment onhe report. >>> rep sol will ramp up production in 2020 and hike its dividend to one euro per share over the next two years. announcing its latest strategy, the spanish oil companide 15on e spending, adding it would deliver adtional share buybacks if the crude prices stayed above $50 >>> elsewhere, the stage has been set for the highly anticipated summit between u.s. president donald trump and north korean leader kim jong-un. according to the white house, the capella hotel on singapo's s meeting.island will host the trump earlier told reporters that plans were, quote, moving along very well, adding a lot of work was going on behind the scenes >>> japan's prime minister says he wants the g7 to send a message that it supports president trump's policy on north korea. and makiko is with us down the line wh re from the nikkei >> reporter: yes, as the summi

blackstone group has raised $9.4 billion to speed up investment sia-pafic region. and japan are the target areas. looking at real estate, private equity, and other opportunities in asia. that is your bloomberg business flash. tom: we need to rip up the script after that item on blackstone, competitor for david rubenstein and the people at carlyle group. i am seeing this correlate, reaffirmation have to go to asia. what have you learned in the years of getting off the plane lumpur?kong, and kuala there is this mystery. we have to go to asia. >> 60% of the worlds population is asia and the large part of economic growth is in asia. so china is a country where we are a large investor. a lot of other private equity firms are as well. at 6.5%china will grow or more for some time. china.rything is india growing at 7%, and japan is coming back from virtually no growth at all. southeast asia is growing. in there going to be investment world, you need to be an asia. tom: great work talking about the new growth and rule of law within india. d.c. india getting to a better plac