blackstone. blackstone starts. it was you and peterson. where did you get the money?ve: it did not require much. it was an advisory business. you talk and people give you money. david: you each put in $200,000. steve: the strategic plan for the business was, and we announced it in a letter, the first m&a advisory business. it required no capital. the second was going into the private equity business. david: you had never been a private equity investor before. pete said, since we haven't, we will go out and raise a fund. you said, let's raise $1 billion. that is fairly audacious. steve: we went to our top 18 prospects. everyone said no except for metropolitan life and new york life. one said i will give you $50 million and one said $25 million. but, i do not be a big part of things. you have to raise $500 million or our commitment is worthless. we had already gone to everybody we knew who were the best targets. i looked at that, and i went, "omg, we are going to fail." we met one more company. it was called prudential life insurance company. it was the number one finan

blackstone. 1985, blackstone starts. two people, you and pete peterson. did you get the money from? steve: it did not require much. it was an advisory business. you talk and people give you money. david: you each put in $200,000. steve: the strategic plan for the business, which we announced in a letter to everyone we knew, was first, the m&a advisory business, because it required no capital. the second was going into the private equity business. david: you had never been a private equity investor before. pete said, "since we haven't been, we will go out and raise a small fund, a $50 million fund." you said, "let's go raise $1 billion." steve: $1 billion. david: that is fairly audacious. where were you going to get $1 billion? steve: we went to our top 18 prospects. everyone said no except for metropolitan life and new york life. one said, "i will give you $50 million," and one said, "$25 million." but i do not be a big part of the things. you have to raise $500 million or our commitments are worthless. we had already gone to everybody who we knew were th

are of no concern to blackstone group founder stephen schwarzman who accounts for the vast majority of the contributions toward president donald trump's reelection effort over the past 18 months from people associated with the $31.00 banks and investment firms that dominate the u.s. financial industry jordan has contributed $3700000000.00 of trump $4800000.00 from big banks and without him the total would represent as 69 percent decline from 2016 i don't know whether to be amazed that schwartz and loyalty were the fact that a majority of rich white conservatives who would only benefit from a trump presidency will have patience to hitch their wagon to a man who pronounces yosemite as semites yosemite of course he had a 2nd chance to fix it and still get up to exactly what happened was that he's reelected. but when it comes to giving your d.n.a. away really in a capitalist society dying to mine it for profit you won't get a 2nd chance to get it back private equity firms will continue to dismantle companies out of greed but that can't stop us from calling out the companies who can exploit

when i found out a company called blackstone was buying ancestry dot com for $4700000000.00 i found out blackstone is actually the largest private equity firm in the world and since private equity firms are known for buying struggling businesses only to lay off their workers liquidate them and sell off their asses for profit they're kind of like the hungry hungry hippos of wall street while the marbles are payless shoes deadspin and toys r us which is the closest bull get to seeing a hippo eating a giraffe so ancestry dot com looked particularly attractive when they laid off 6 percent of its workforce in february because of a slowdown in the consumer d.n.a. testing market it's unfortunate ancestry dot com laid off workers before the coronavirus since there are now millions of americans who secretly hope a d.n.a. test will prove they're not related to family members they've been trapped inside with since march. but given private equity less than stellar reputation a blackstone spokesperson the fended there multibillion dollar acquisition devices motherboard by stating to be crystal clear

blackstone is making a bet on your family tree. the alternative asset manager will buy about 75% of ancestry.com, a business of family history research and dna testing. the deal is valued at $4.7 billion, including debt. bill gates says tictoc data is safe with microsoft. the cofounder of microsoft spoke to bloomberg about the proposal to buy the chinese-owned video app. bill: we have engineers from all over the world, including in china. microsoft is very careful about its data promises. we try to have strong relationships globally. won'tow, we won't -- we do things that are hostile or viewed as hostile. has givennt trump microsoft until the middle of september to work out a deal with tictoc. that is your bloomberg business flash. stocksouth africa's main

. >>> blackstone adding another member to the family. we do have about 51 minutes before the closing bell rings. look at the dow, now up 309 points. folks, that meeting may have just begun. we are going to call it imminent, on capitol hill. between both sides of the aisle, including treasury secretary and chuck schumer and nancy pelosi. we will bring you any breaking news. but the market seems to anticipate something positive here. blackstone's capital partners buying genology od, ancestry.com in another mega-deal. the first purchase by the world's largest ever private equity fund clocking in at $4.7 billion. blackstone up 1.2%. >>> from tracing your family tree online to the e-commerce big bang. one of the world's biggest electronic payment firms hitching its wagon to one of the digital galaxy's brightest stars. global payments ceo next on his new walk in the cloud. "the claman countdown" will be right back. it's easy to get lost in the economic uncertainty. the volatility. the ambiguity. the moment calls for more. and northern trust de

blackstone was the business doug first invested in, before he got interested in the oil lease.eration. 100 trucks hauling water to and from oil fracking sites. very profitable. james let it be known that he was backed by a billion dollar trust fund. >> i was like, their guy's a winner. >> a lot of money around. were they making money? >> yes, it sure seemed like it. >> and james was buff, all man. >> it's 20 degrees outside and he'd be wearing a tee shirt. he wants you to see his guns. he's showing them off. they're perfectly white teeth and tans. they looked like ken and barbie. they didn't fit in at all. >> not a nickname sarah took to, mind you. >> no, i feel like i have somewhat of a brain, i don't want to be called just a barbie. >> you're living in a town of men. >> 92-1. >> all jacked up on testosterone. >> yeah, it was miserable. every day was a plan on how to get out. >> with him? >> yeah, we wanted to leave the oil field, but he just saw so much opportunity and money. he was like one day we'll get there. >> doug carlile liked james and sarah's entrepreneurial style a

the incident happened within a mile of blackstone island, perhaps in view of the white house. the first year, we went out to the island. military sendoff with the navy support. they are right by us. it was there flotilla, it was their river. they came with us. this would have been our third year of the event. last year, it was a two day event. exhibits including you guys. it ties in some nicely. there must've been people from this incident, families that letters to or sent claire barton saying, can you help me? we don't know what happened. that was a very good tie-in. we read the names of the deceased. you were able to speak about the importance of the missing soldier's office. year, we were going to have -- speak. he has an interesting way of looking at this from the medical side. he was wondering if perhaps fewer men would have drowned and suffered if they had been in better health. i don't think he is kicking claire barton to the curb. they spent all that time in andersonville and were just recovering. they weren't in the best of health. it wasn't like they were hearty 20-y

blackstone -- was inexplicable. blackstone will buy about 75% of ancestry.com, the business known for family history research and dna testing. the deal is valued at $4.7 billion, including debt. global news 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ sen. mcconnell: the feeling that seems to have been expressed that we would like to get an outcome, i certainly hope we can. the coronavirus is certainly not over. it is still in a norma's problem affecting commute -- an enormous problem affecting communities all across the country. jonathan: senate majority leader mitch mcconnell. is he leading, or is he following in washington, d.c.? alongside tom keene and lisa abramowicz, i'm jonathan ferro. here's your wednesday morning price action. equity futures firmer, heading north by 19 points on the s&p 500, up 0.6%. euro-dollar,ket, $1.1839. the story for most people, gold getting comfortable north of

fox news saying blackstone had wanted to be a part of microsoft's bid for tiktok.ese owned video sharing app the trump administration has declared a national security threat, is apparently in big demand at this point could according to dow jones, twitter has held talks about a potential , nation with tiktok and they say people familiar with the metal. sources also say it is unclear if twitter would pursue a deal, which the sources would involve the tiktok u.s. operations. the sources also say there is a view that because twitter is smaller in size, much smaller than microsoft or other potential bidders, it might not face the same kind of antitrust scrutiny, so that perhaps opens a window. microsoft has been negotiating for weeks with tiktok's owners and is considered the front runner for any possible deal that may result. that is according to these sources. analysts also say if twitter were to consider possibly buying tiktok, they would clearly need help from other investors. so all of this raising the profile of tiktok as a lot of political matters swirled about i

it's not totally ruled out at blackstone about getting back in. they did kick the tires. that's where i think we are right now. it will be interesting to see this lawsuit. again, remember, there's not a lot of firms that can do this. twitter doing it, think about twitter doing it. where's the expertise in the cloud, which they have to do. where is the money. they will have to -- liz: they kind of fumbled, charlie, they fumbled on vine. vine used to be so hot. that was a short video platform. one last comment before we go because we do have to run. microsoft, i'm doing six degrees of separation. microsoft, of course, founded by bill gates, who used to sit on the berkshire hathaway board. warren buffett just reported a cash pile of $146 billion. maybe he sweeps in as some type of white knight. charlie: think about it. warren buffett doesn't have that much more cash on his balance sheet than microsoft. microsoft can do this in a blink. liz: together, though. charlie: they are the best position to do this. they may take outside partners. they may not. they may walk away. i'm

takeda's subsidiary will be sold to the blackstone group.t makes vitamin drinks and cold medicines. takeda aims to reduce debt, which ballooned to $38 billion after it acquired irish biotech company shire last year. the $60 billion deal holds the record for a largest ak one scqn of a foreign firm by a japanese company. takeda wants to develop profitable prescription drugs, such as those for people with cancer or digestive diseases. >>> a military trade fair kicked off in russia, showcasing high-tech weapons. moscow looks to boost overseas arms sales. 1,500 companies are taking part in this year's event. they're exhibiting nearly 30,000 kinds of weapons and other military equipment. russian primeme minister spoke sunday's opepening ceremony. he said digitalal t technology arartificial i intelligence ares year's themes. an attack drone developed by a russian company was attracting attention from military staff, including officials from china. about a meter long, it can carry up to 3 kilograms of explosives. >> translator: the attack drone is a

at us and they had a lot of repercussions in culture like for example in history for example the blackstone at the southeastern corner of the car. is with all probability a meteorite it least a millennium before the prophet mohammed introduced islam big events that have. hit us a mysterious into a big event she should look in the york atomic peninsula a crater 200 kilometers across 65000000 years ago that wiped out the dinosaurs and almost all life on the planet and it had to we have to we have to be aware that 10 minutes she of hundreds of millions of hiroshima bombs maybe even thousands of millions of. amount of energy hiroshima bomb packed and these things can happen again of course when i talk thank you. thank you that's it for one of your favorite shows of the last season will be back for a new season goes to cover the 5th until the right to the show you don't miss an interview and join the other guy but followed up with a facebook instagram and south face a. welcome to max kaiser financial survival guide. looking forward to a year that's without. yanks this is what happens to pensions

at us and they had a lot of repercussions in culture like for example in history for example the blackstone the southeastern corner of the car park in mecca is with all probability the meteorite it least a millennium before the prophet mohammed introduced islam big events that have. hit us and missed us into a big event she actually looked in the yucatan peninsula a crater 200 kilometers across 65000000 years ago that wiped out the dinosaurs and almost all life on the planet and it had to we have to we have to be aware of she of hundreds of millions of hiroshima. maybe even thousands of millions of. amount of energy hiroshima out on packed and these things can happen again of course when i talk thank you thank you that's ever want to your favorite shows of the last season will be back pretty easy is going to come in the face of the man likely to show you don't miss an interview and join the other guy but all of the flipping is a grandma and sound cloud they say. so what we've got to do is identify the threats that we have it's crazy confrontation let it be an arms race in this on off and sp

at us and they had a lot of repercussions in culture like for example in history for example the blackstone at the southeastern corner of the car. is with all probability a meteorite at least a millennium before the prophet mohammed introduced islam big events that have. hit us a mysterious into a big event she sure looked in the york atomic peninsula a crater 200 kilometers across 65000000 years ago that wiped out the dinosaurs and almost all life on the planet and it had we have to we have to be aware 10 minutes she of hundreds of millions of hiroshima bombs maybe even thousands of millions of. amount of energy hiroshima bomb packed and these things can happen again of course when i talk thank you. thank you that's it for one of your favorite shows of the last season will be back for you see is going to come in the 5th right the show you tube if you don't miss an interview and join the underground michael duffy twitter facebook instagram and say say. has changed american lives but pharmaceutical companies have a miraculous solution. based drugs to people who are chronic pain and believe t

we were able to report over the weekend and confirm that blackstone, the big private equity firm hadressed interest, particularly early on, joining microsoft in its bid for tiktok. that they were seriously looking at it early on. we're told some of the interest has dimmed. it's not totally said no to a possible investment but blackstone clearly looked at it very closely at first. like i said, i hear the interest has dimmed recently. one of the problems i think blackstone has quite frankly, you know, if you buy just tiktok u.s., can it compete globally? bytedance which is the owner of tiktok, the chinese company which the trump administration believes shares user data with the chinese government for surveillance purposes, again no evidence of that but that's the prevailing wisdom out there bytedance would theoretically hold the rest of tiktok which would be 700 million users since it is 800 million, has 800 million monthly users and 100 of them are in the u.s. so other potential investors, this again, possibly the microsoft group, general atlantic group, big private equity firm, sequo

ket the pharmaceutical takada pharmaceutical is finalizing a deal to sell part of its business to blackstoneit has been in investment mode. this company has agreed to pay $533 million if it fails to buy virgin australian airlines. the unusually high breakup fee helped win over the air than administrator. virgins creditors will vote on the deal in september. in the world's largest container shipment has restated its full-year guidance. aersk reported second-quarter ibitda that beat analyst estimates. it says it was able to serve customers under very difficult circumstances. and that is your bloomberg business flash. tom: thank you so much. you are on a surge that the euro is on a surge -- the euro is on a surge. hearing 115 on the euro. francine? francine: tom, if you look at european stocks, they are trading higher with u.s. futures. they seem to be following the u.s. futures'him. i think there is a correlation as you rightly said, with yields and equities, gold back below $2000 an ounce. we had better-than-expected news when it came to inflation in europe. we also had some lingering questio

sources tell bloomberg the alternative asset manager is in talks to buy blackstone's stakes in shamirrtners. it is holding in the -- it's around in the company is $8 billion. no official word on the deal yet. microsoft is delaying halo infinite, the biggest video game plan for the november lodge of its new console, partly due to the challenge of working from home during the coronavirus crisis. the delay of the latest entry in the multibillion-dollar halo franchise may hurt sales of the xconsole.eries, that is a bloomberg business flash. francine: the battle against coronavirus, russia has said it has improved to the first vaccine in the coronavirus vaccine. the u.s. has reached a deal with moderna to provide 100 million doses of a potential vaccine. that is alongside the deals it has signed with pfizer and johnson & johnson. we are joined by bloomberg's health care reporter, james. what do these supplies mean for the rest of the world? james: good question. countries are not waiting around to find out which of these vaccines are going to work. we have seen the trump administration, th

blackstone is looking for one million square feet of office space in new york city and talking to a fewat is because the market is readjusting and prices are going down. you will see a move in both directions. honestly i don't think people are taking the six feet seriously. you go into the airport and you have signs everywhere and no one is staying six feet away. that is not the reason people are downgrading or getting more space. quickly,ant to ask you it seems the linchpin is the corporations bringing their workers back. is that the linchpin for you? evi: say that again. i apologize. greg: it seems like the big corporations are the linchpin, them calling back their workers. if my company does not call me back, i am not going to go back. is that what you are seeing? evi: it is happening. that is what you need to see. there are a lot of large corporations coming to new york in the past six months. amazon just closed a deal and a large stedeal. they will open a lot of jobs in that building. you have facebook that signed a very large deal recently. i don't think we will suffer too much fr

decatur pharmaceuticals making final arrangements to sell its japanese health care business to blackstone would be worth more than 2 million. it has been in divestment mode since last year. properties plans to file for bankruptcy. after afamiliar story slowing in food -- and foot traffic. now the company says it reached an agreement to hand control to holders of its unsecured notes. and that is your business flash. staying with retail and malls, it has been a big year and we have seen a lot of names filed for bankruptcy. despite that one campanile -- company is betting on brick and mortar. brands recently got approval to buy brooks brothers. jamie, i am happy to chat with you on this. you teamed up with mall guys, i am assuming not cbl, but where's the opportunity? where do you see it and why? the opportunity, i will already -- always say that bricks and mortar is an important part of building a brand, not just locally in the u.s. market, but globally. if you do not have bricks and mortar stores it is hard to build a brand and, more important, it is hard to build your business. traditiona

we spoke to blackstone yesterday, and something he mentioned, the technology spending in china is significant cannot be ignored. vonnie: certainly a variety of ipo's and investment bankers are having no today's alike in 2020. thank you for that, sonali basak. let's take a quick check on the markets. technology stocks are higher once again. the nasdaq above 11,000. tech shares pushing it up 0.6%, even as the s&p 500 rests on its laurels, it is on a record. the dollar index down .2%. us 10-year yield providing with perhaps the biggest surprise of the day, right above 70 basis points. 20 basis point move in the last couple of weeks. optimism about the u.s. labor market, but how should investors read the numbers? we will be speaking with bill strazzullo bell curve trading. ♪ mark: i'm mark crumpton with bloomberg first word news. israel and the united arab emirates have agreed to fully normalize relations. a joint announcement from the countries and the united states called in an historic diplomatic breakthrough. the decision by the uae will also be seen as a proxy for its larger neighbor's saudi

moving on to blackstone. i do own a very small portion of their stock.y a majority take in the dna testing site, that would be ancestry.com. what is the price tag, lauren? lauren: $4.7 billion. so blackstone will own 75% of ancestry, and a sovereign wealth fund gic will own 25%. why is blackstone making this purchase now? the online market they say is booming. they also own bumble, the dating app. with ancestry they will focus on bringing in younger customers to trace genologies online. they think it is interesting. people will want to keep doing it. stuart: keep buying up, buying up, all these difficult companies around the place. interesting stuff. thanks, lauren. >>> joe biden own the defensive after revealing he has not taken a cognitive test. please watch this. >> have you taken a cognitive test. >> no, i haven't taken a test. why the hell would i take a test? come on, man! that is like saying, you know, before you got on this program you take a test where you're taking cocaine or not what do you think, huh? are you a junkie? stuart: he wasn't on th

bloomberg has learned that blackstone will buy a portion of ancestry.com. global news 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ jonathan: big downside surprise on the adp payroll report, of,000, against an estimate 1.2 million. the last number, huge revision up. this just speaks to the uncertainty, the wide range of estimates coming into friday. tom: no question about it. i see the bid taking away on the two-year yield, down just a little bit, with futures up 12. what do you think? jonathan: equity futures up 12, around about 0.3%, off session highs. the yield higher at 0.53%. i just think it is hard to take the adp report and make a read across. look at how big the downside surprise is, and how massive the upward revision is to the previous month. it just speaks to the insert still and a huge amount of -- the uncertainty still and a huge amount of churn. tom: right now, a really important conversation if you are worried about the s

do you see someone like blackstone or blackrock playing?a: i think the pe firms have done their bit in the last decade, especially in the 2010s. most of them are actually trying to pull out now. what i think we will end up seeing is assets change hands because the assets still have underlying value, but the companies structured around the with the debt and equity portfolios they have list less attractive. i think we are going to have to see more restructuring, more debt consolidation, and then you will see less of the company logo shifting. lisa: have we already seen peak oil demand? regina: i don't think so. there have been some who will say 2019 might be peak demand. we still see projections that will take us up to 110 million barrels per day, which is still 10 million barrels per day more than we consume in 2019, and you will still see that into the 2030 timeframe. energyt have a base of that will sustain all of our needs that does not include some element of hydrocarbons, at least in the foreseeable future. lisa: do you think the pandem

byron wien is joining us from blackstone. byren, good to chat with you. are a wall street veteran. how do you look at the election in november now that we know who is going to be on the democratic ticket? biden we knew that joe will moderate i was going to be the lead of the democratic ticket. now, he's picked kamala harris who is more progressive than he is. and the democratic party is shifting to the left with kamala harris' pick, he is definitively moving to the left. that means higher taxes, more , and ordinarily, that would be negative for the market food on the other hand, we will probably have more international tradeents, better practices, or more agreeable trade practices. so it is not clear that a biden administration would be negative for the markets. and the markets generally do better under democratic administration's then they do during republican. you think a biden administration will be better at dealing with a virus? that is a significant factor in terms of the way which way the markets are going to go as well. byron: yeah, i think the de

. >>> i'm putting blackstone up on the screen. it is up a little bit this morning.studio lots. that is interesting. are they just buying the real estate of the studio? susan: if you think about it is a play for streaming. makes sense after covid which obviously changed consumer behavior including yours. blackstone is spending over 1 1/2 billion dollars for 49% stake in three hollywood studio lots. they are betting streaming will only surge from here. the peak in late march and early april people were binging in excess of 160 billion streaming video minutes per week. eight hours per week people were watching. that is twice last year's level. streaming will grow with hbo max, peacock, apple plus. studios like universal and disney are releasing directly on streaming instead of the big screen. you saw the subscribers numbers for netflix in first six months of the year, in less than a year, disney plus has 60 million subs. that is the future. stuart: they don't a piece of the streaming product. they own the land which the stream something filmed or taped, right? susan: t

takata isto keita -- selling its health-care unit for $2.3 billion to blackstone, which plans to takefive years. the price tag was lower than the $3 billion expected, but the deal is part of takeda's plan to shed debt after it acquired shire last year. turning to chinese pharmaceutical stocks, nomura impact on the third round of book buying will be minimal. the health care gauge has been gaining ground this year, up about 40 -- 46%. second only to consumer staples and leading 2020 gains for the benchmark. shery: for more on the battle between chinese pharma companies and multinationals, we are joined by our guest. great to have you with us. we saw the results of china's latest round of drug procurement, virtually shutting out foreign pharmaceuticals. how has this new centralized system in china fundamentally changed the game for pharma in china? this is notuld say something new. [indiscernible] the past two years [indiscernible] fundamentally transforming the pharmaceutical sector. [indiscernible] the centralized procurement, no matter who -- the chinese have two categorize -- to cate

. ♪ ahead of talks on the phase one trade deal, the blackstone group says u.s.affecting decisions. they hope to see them restore better ties. >> i do not think it is healthy for the largest economies in the world to be in conflict. i think the phase one negotiations are still moving forward. china.l are trading with there is a lot of talk about the end of globalization and on manufacturing. they are a major producer not only of every household good you can name, but medical devices and generic drugs. we continue to import from china. as far as i know, the phase one trade negotiations are still ising along, but phase two off the table. my hope is that if there is a biden victory, we are able to restore more normal relations with china, and the hostile relationship that exists now will diminish. biden has not been friendly towards china in his rhetoric either. relationshipf the between the u.s. and china is not clear. >> what signal the you look at two advisor clients to invest in china or not? i think china is going to be a major factor. government is stance, nat

blackstone is it buying a japanese pharmaceutical company. tell me more, susan. the japan they're in the final stages to off-load the over-the-counter business to blackstone. the deal could be worth as much as $3 billion. takeda is teaming up with novavax to get a coronavirus vaccine in japan. deal-making is alive and well. stuart: it is alive and well. look what is going on now. thanks, susan. >>> news from goodyear, the tire people. what is this about maga hats? maga hats? tell me more. ashley: this is really interesting story. goodyear employees saying zero tolerance policy of goodyear in akron, ohio is discriminatory. a training session held at a plant in topeka, kansas, the person brought up a slide, they told them what was acceptable or unacceptable. under the acceptable list, "black lives matter," lesbian, gay, bisexual, transgender pride. under unacceptable blew lives matter, all lives matter, maga attire, politically affiliated slogans or material. now the person giving that lecture said all of these rules came from the headquarters of goodyear. goodyear

about the time of henry ii in the 12th century and followed through english common law, through blackstone's legendary commentaries, the book that informed the early creation of american law, through to the declaration of independence where the jury was part -- a part of our country and then into our constitution. this is an important part of our anglo-american rule of law tradition. and the fact that we're willing to throw it over the side because big corporations come and say we can't bear the indignity of having to be treated equally and fairly in court with these people we're so used to pushing around and legislatures who have lobbyists and money, that's why we're going to throw out eight centuries of tradition and learning? there's a great movie called wine and winter, it's a great movie about henry ii, and that's when this tradition started and we're going to throw it out here for corporations who have been so negligent as to cause death and injury. something is wrong. now i yield the floor and i thank the senator from connecticut, my friend, senator blumenthal for his indulgence in th

that was the blackstone group vice-chairman of private wealth solution.e gold roller coaster ride continues, prices back up above $1900 after a two-day decline. the outlook, next. this is bloomberg. ♪ ♪ check let's get a quick of business flash headlines. cathay pacific sword the most in 12 years after a tweet that hong kong might restart transfer flights to the mainland. cathay pacific recorded a 1.3 billion dollars u.s. law says the coronavirus brought travel to a standstill. passenger revenue tumbled 72% with just 500 passengers a day average in april and may. gold miner evolution reports a 38% jump in profits for the full year through june 30 at just over 300 million australian dollars as investors sought safe haven coronavirus disruptions. sales revenue from its five mines was short of 2 billion dollars australian, which matched estimates. despite rising prices, evolution says its production of gold will be lower this fiscal year. companyalian petroleum report to the big first-half nearly $4 absorbed a billion impairment of oil and gas assets trigger

that might be doing private equity like the kkrs and blackstones or even if you want to buy one of thenvestment banks like a goldmen or morgue an stanley, there are opportunities within these particular sectors to find stocks that should outperform as we look forward over the next six to 12 months >> mark, what about the broader market does the broader market want rates to rise or to stay low >> we would like to see rates rise i don't suggest that we're going to see that any time soon anyway the but i think that any kind of migration up to the right in terms of the ten year treasury bond moving up towards say a yield of #95 basis points would be welcomed. it would be indig taftive of the fact that there are monitory officials and they're gaining traction and it's a liquidity impulse it is growth oriented and it is sustainable in the absence or at least in the expiration of the monetary and fiscal tail winds we've had at least so far. so i think it will be welcomed obviously, it would mean though that tech names, particularly some of the long duration assets like software would suffer u

recommend -- edmond burke and john lock and russell kirk and ludwig von mesis and john adams and blackstone -- and those are the scholars who laid the foundation for what we understand is the conservative movement but today i want to take an example of something that has nothing to do with the conservative movement but shows how technology can do a leap forward that could not be done in any other way. in 1975, the people who were meeting and talking about their gripes against the british crown were all trying to make the king shape up and be a good fellow and recognize their rights. all of their entreaties were addressed to the king, and the idea of not having a king really hadn't occurred to them. when they had their convention in 19 -- in 1775, i think their petition was called the olive branch petition. they're continuing to make entreaties to the king to give them their englishman's rights. that was in july of 1775. in january of 19 -- of 1776, a little pamphlet was published. it was called "common sense" by thomas paine. it was only 46 pages. it wasn't written in the scholarly method o

. >> blackstone's got a couple of its own. >> true. >> les moonves was probably pretty close >> geez,ou had to go there >> yeah, just trying to think in my own mind, of those people who became close, almost, being employees. just being paid with restricted stock, or with options and with enormous amounts of compensation >> i've always felt if they created it for you, they're certainly deserving. it's people who don't deserve it but, you know what, david, it's very interesting that sandra bernstein has come up with a piece that says we keep irritating china 15% of their revenues could be -- obviously, apple's best times are behind it. >> yeah, another piece out we do bring up apple all the time about the tensions with china for valid reasons. probably going to discuss an apple, tesla, could be collateral damage. >>> let's take another look at futures, of course, as we get you ready for an opening bell. i think we're going to try to squeeze in a "mad dash." we're back after this. we made usaa insurance for veterans like liz and mike. when their growing family meant growing expenses, our

where we think the economy is going to go so, for example, in financials you look at companies like blackstoneou can play there is the wealth management business of the asset management business. those are doing really well and not being given the credit that they are due at this point and when things, interest rates start moving up and more mna activity and more interest management, you want to be in a place like that. the dow. honeywell is coming back to the dow. that is a company we really like if you like where they're placed going forward in all their sectors, they're going to do really well. they're trading at a below market multiple. they've got a great balance sheet and a great management team and the other one we really like xpo logistics. if you want to play a company that is really going to win no matter whether it's amazon or shopify, et cetera, xpo is a great name so, there are plenty of other opportunities in the market. very narrow and to your point, the dow is representing that, even though it's 30 stocks even the s&p has become so narrow so, it would be wise for investors to l

. >>> shares of blackstone stepping in to buy tedaka's pharmaceutical for $2.3 billion. you're watching "squawk box" on cnbc >>> it's a monumental moment for the industry it's been hit by the pandemic. it's a much different experience for audiences. julia boorstin joins us now with more hey, julia >> reporter: good morning, joe this morning 1700 u.s. theaters were open. that's 1/3 of the number of theaters that were open the same weekend a year ago according to comport. the first was "unhinged" from russell crow it drew $4 million in domestic ticket sales that would have been seen as a disappointment but now it's seen as a sign of demand. we talked to people from inside a theater about what movie going is like now. >> there's no one here yet but this is one of the showings that was supposed to be kind of filled up, although filled up means 40% as i think it means. i was in one of the biggest theaters, there was 25 people there and that was sold out. the only aspect that gave me cause for concern was when i saw a bunch of people going into the theaters and once they sat d

of bidders have jumped in thinking this might be a fire sale deal including steve schwarzman and blackstoneong. stuart: i could see how it would be a very good fit for microsoft. i don't know how it would be a good fit for wal-mart, but microsoft's got the money, tiktok's a good fit with them, and i think that's why microsoft is up a whopping $7 -- >> yeah. but september 15th is when we're going to likely get a deal, by september a 15th. they have 90 days to close it. it'll be interesting to see whether or noting there might be a delay because of the tiktok 4r5u9s against the executive ban. but they say microsoft probably the best suiter in terms of what we call synergies which is what you need to think about -- stuart: and $7 up on microsoft, a company that size, $1.7 trillion company, and it's up 3.5%. my goodness, me. you've got another story here. i don't know how to pronounce it. >> the chinese rival to tesla in the u.s. yeah, that's right. listed today. they're still trying to match buyers and sellers, so we don't have an opening price, but they've raised $1.5 billion, popular offerin