blackstone is increasing its offer.move comes after crowns rival -- crown's rival proposed a merger. once we know about these competing bids and what makes more sense for crown? >> let's start with the star entertainment bid. it is nonbinding, it is hard to put a price on it. we will get to that in a moment. crown's problems are very well known. they cannot get there casino in sydney open after the regulator refused to grant them a license. they found evidence of money laundering and risks of -- links of organized crime. crown's operations are risks -- are at risk. star has a track record of operating casinos in sydney and brisbane. if it can merge with crown, it woke create a compliant -- it will create a compliant casino giant worth $12 billion. blackstone used to work with star before striking out on its own. that is at 12.35 a share. kathleen: what's in it for investors? >> this is a premium exchange ratio. stars worst -- star is worth a quarter less than crown. star is saying this merger would deliver cost savings

that report that blackstone lifted the offer to aus $12.35 per share.a new offer sent to the casino grew bored of the weekend was made on an nonbinding basis subject to approval and a diligence according to the report. also according to the report we saw conditions dropped, and they were committed to be ready to buy crown resorts in the third quarter. we have also at the same time seen report according to the sydney morning herald another casino operator, star entertainment group, is said to make a competing $12 billion aus offer for crown resorts. we will get you the details on that story as they get to us. let's get over to vonnie quinn with first word headlines. vonnie: india's capital has extended a locked for another weekend, adopting stricter restrictions to control new waves of covid-19 infections, restrictions that have been set to end monday will now run until may 17. india is battling the world's fastest-growing outbreak of the virus, reporting 403,000 cases sunday, along with 4000 deaths. tokyo successfully completed a test event at its natio

york's top business leaders are gearing up for a mass exodus you already have announcements from blackstone who recently signed an office lease in miami star wars hotel they're also moving their headquarters into the sitting and jet blue which is currently headquarters in long island is also looking at florida right now so a lot of these companies they are looking to florida because there is going to be a profound change to provisions on a state and capital gains that have been in the tax code for years so they are expecting intense opposition to this our most economists agree that things like estate tax a couple gains tax they're already amount to a 2nd and 3rd layer on taxes on the same income and in the cases of corporate stocks capital gains dividends those are already 2nd layers of corporate profits that are taxed at the corporate level so what all of this actually means is that high earners the c.e.o.'s these corporations they may face tax rates north of 50 percent on capital gains when including a state taxes so that is the highest tax burden seen in nearly a century so in the end th

describe the market shareship is pushing the opportunities toward the large platforms like the blackstone's and kkr's of the world, it is our ability to get ahead of assets and willingness to spend the resources -- speculative resources, and we are holding our own. matt: really fascinating to get your insight, valuable for our viewers. thank you for joining. david layton, partners group co-ceo and deals reporter ed hammond. coming up on the program, we will speak with the ceo of an amusement park operator cedar fire about reopening amid the pandemic. they run some of the biggest parks in the midwest. cedar point and kings island, these were like dream destinations for me as a kid. now, you may be able to go back. richard zimmerman joins us next. this is bloomberg. ♪ this is bloomberg. ♪ matt: this is "bloomberg markets," i am matt miller. amusement park operator cedar fire reported earnings today after have for -- having no operating days in the first quarter due to the pandemic. clearly it was difficult. joining us to discuss the optimism ahead in reopening is the cedar fair president and

topping blackstone cash offer. issue a profit morning and announce the resignation of peter nathan, the market -- revenue forecast down from a high of two late last year. new zealand's markets has plunged to just over six dollars today. -- expects clean energy to -- the anglo dutch major is aiming to be an energy-efficient company by the middle of this century. they co-chair facebook independent oversight board says the rules for banning content are in shambles. panel decided last week to extend the ban on crop. >> they needed some time because their rules are in dangles, they are not transparent, they are unclear. we gave recommendations on how to make their rules more clear and consistent. >> emily posting on may 11 at 5:30 p.m. time. taking zinc do for a walk, this is. >> billionaire elon musk on saturday night live. when asked on the show it was a hassle, five that that it was. >> what did you make of all this >> had not gone above four cents , then it -- it is actually up until right now. there are even more d

crown resort has rejected a takeover bid from blackstone saying it is too low.s the advantage to rival suitor star entertainment. crown said there was too much uncertainty with the blackstone bid, including timing and literary approval. the casino operator says yet it has -- says it has yet to form of you on star's offer. 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. this is bloomberg. manus: thank you very much. coming up, the world powers call for an immediate end to violence in israel and gaza, the israeli prime minister valves to fight against hamas. this is bloomberg. ♪ >> we will do whatever it takes to restore order and quiet and the security of our people. we are trying to degrade hamas's terrorist ability and their will to do this again. it will take some time, i hope not long, but it is not immediate. annmarie: benjamin netanyahu bowing fighting will go on even as the u.s. joins other world powers and calling for an immediate end to the violence between is

came from that renowned british legal scholar william blackstone who defined curvature in 1765 to quote by marriage that husband and wife are one person in law. that is the very being or legal. is this existence of the woman is suspended during marriage or at least is incorporated and consolidated to that of the husband under whose wing protection and cover she performs everything. this lack of legal identity was most obvious in her lot lat. excuse me in her loss of her name upon marriage. women did not have rights, but duties and female was to be obedient first to her father and then to her husband. a woman without a man was a relic that was the legal phrase a leftover with few exceptions women could not own nor require property right a will or into a contract. they had no legal identity, but were utterly dependent on a male. there was clearly no self-evident truth inequality when it came to women. not even all men were included among those eligible for the legal inequality of citizenship a different times and places various religious and ethnic groups have been excluded from the equal

the final one is blackstone buying same on when. -- st. modwen.st investor said the proposal was too low. it will be interesting to see how this one unfolds. i and i know the rest of the team is focused on blackstone's other investment. anna: providing much conversation this morning. thank you. we heard about oakley in the business flash, didn't we? let's turn our attention to the market open, six minutes away. does it seem to you the markets are weathering the mention of the taper from the fed? >> absolutely. many people thought the first time the fed mentioned that it would come much later, but also there would be a shock for markets. they are managing exceptionally well. part of the reason is we had other turmoil yesterday. that meant that pressure was keeping yields down. therefore when we got the tapering comments, it meant yields a little bit higher. it did not shock markets. but yes, they are weathering it well. anna: yields falling from those highs in asia. thanks very much. i would be back with the market open next. futures modestly to th

an update on the acquisition proposal from blackstone, crown resort to saying that takeover bid does undervalue the company. we have local media reporting that shareholders are making growing calls to ground -- crown to start a formal process to get it around those regulatory difficulties, that it has been having. still to come, china's solar industry taking fire for its labor practices. we had exclusive access to daqo. details ahead. this is bloomberg. ♪ paul: china's solar industry is facing scrutiny after allegations of forced labor. beijing has denied the claims. as potential sanctions loom, one of the biggest factories has broken ranks and let journalists inside to reassure anxious investors. our china correspondent reports from there. >> in most other parts of the world, factory visits like this are routine. not here. a region of china with a government has been accused of numerous human rights abuses against the muslim population, including forced labor in its solar industry. china denies the claims. now, one of the biggest solar companies, daqo, is betting on greater transpar

they say there was too much uncertainty tied to the blackstone bid including over timing and regulatorproval. the casino operator is yet to form a view on starz offer. the federal reserve policy is in a good place. the president loretta mathis playing down signals from data that she woorns will be volatile as the economy reopens. >> that's a strong demand. we also have supply issues affecting the economy and this inner play between demand and surprise with some of the data coming out whether it would be today's retail sales report or the lay por market report. so the volatility month to month is something we should expect. i think that's what's happening though is that we do see the recovery continuing. it's just that we're going to have these month to month changes depending on which factor is more dominant, the supply side or the demand side. we're really at the beginning of this vaccination widely distributed part of the recovery. we have to wait and be patient and let the recovery continue. >> well, we just got the c.d.c. advice that people don't have to wear masks. people in bosto

when you saw version 2.0 at blackstone and tkr and other firms, they assess -- access to the public marketso this was an opportune time for us to go public and become, what we think is version 3.0 in the public market stocks. really based on permanent capital, management fees, and giving our shareholders an opportunity to have a stable and growing company that they can invest in. matt: i wonder what you think about the future of finance. when i was a kid, hedge funds were getting started in high school and college. i thought the seas were cool and private equity, my smartest friends ended up going there. i don't know why i missed the boat. but you are doing things in a new way. and some are saying that the hedge fund is dead. what do you think about that? what's the future of finance? marc: i think this is an important part of the economic engine in this country. we are happy to be a part of what we think is ultimately a growing sector. we provide attractive returns to investors and that's not an easy thing to find. if you look over the last several decades, alternatives have outperformed

blackstone wants u.s.s back in the office full-time by june the seventh as long as they are vaccinated. the world's largest alternative asset manager moved yesterday. they are preparing for an end to remote work since the earliest months of the covid-19 pandemic. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta, this is bloomberg. ♪ >> in a lot of places, eating indoors, going to a bar indoors, it's not the safest thing at all and it could lead to another super-spreader event if people aren't vaccinated. we are struggling a little bit with our anxiety about having people show that they are vaccinated. hopefully that will dissipate and we will have more clear rules. jonathan: the johns hopkins bloomberg school of public health. good morning. lisa abramowicz is out of the building. she will be with us next monday. equity futures down 35 on the s&p. the nasdaq 100 getting beaten up in yesterday's sessi

especially in june blackstone from june 7th the nationals and washington, d.c. going to full capacity june 11th do you think that this is going to continue to be a fly wheel as we get more reopening? >> i think the opening trade still remains terrific i think the alcoas still are good the freeports oddly are still good the commodity costs for say car companies are going to be gigantic i happen to think that you can keep going back to these stocks. until younger investors have gotten comfortable with them and then rethink the situation walt disney's numbers are going to be fantastic. proctors -- >> meanwhile jim, druckenmiller this morning on squawk talking about the fed asking where they are going through so much effort for 40 points of inflation -- can run an economy hot where no inflation he's going take that chance again. >> i love stan i've known him like 30 years not the usual he's a nice guy. i really like him. >> so most of the time when you say you don't mean it. >> this is not hyper bull. but stan at the end. he said when you have this bubble the person

celebrity investors, blackstone. the private market was open to you. why go public now?question. timing is right. we need the proceeds to expand our production capacity across the three continents. multiple channels. we are generating demand that we have not been able to supply. that is what the proceeds will be used for. this year will be extremely exciting, bringing new capacity on board every single quarter. we are happy to be where we are. guy: what you say to people who say this will be a fat? two years ago -- a fad. does give years ago it was soymilk, then it was almond milk. oat milk has been dominant now. is there something else around the corner that will mean you are in the same camp as those other kinds of products? how do you keep this going? how do you use this money to make sure that has not happened? toni: that is a great question. the big difference now, if you look at the evolution of plant-based milk, the key driver is conversion from dairy into oat based full spot growth is driven by new users. 60% to 70% of our users joint plant-based milk only two ye

blackstone wants u.s.akers back in the office full-time by june 7, as long as they are vaccinated. the worlds largest asset manager announced the move yesterday. they have been preparing for an end to work -- for a return to work at the end of the coronavirus pandemic. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ >> this issue of cyberattacks on our critical infrastructure, especially energy infrastructure, is not going away. this is a serious example of what we are seeing across the board in many places, and it tells you that we need to invest in our systems. jonathan: that was jennifer granholm, the u.s. energy secretary. good morning. alongside tom keene, i'm jonathan ferro. lisa abramowicz will be back with us on monday. good morning to you all. we are negative 0.8%. the nasdaq 100 down by more than 1% after a big move lower in yesterday's session. in the 10 year, 1.60

blackstone group has partnered with held in and freeman.ign with potential buyers to help her divide financing that would exceed $10 billion. we could see a jumble of medline of around $30 billion in a potential sale. haidi: all right. coming up next, the bank of england is slow to bond buying as the economic recovery has the pace. the governors says it would take a shock to expand qe next year. we will get more from that interview just ahead. this is bloomberg. ♪ omberg. ♪ haidi: it is time for morning calls ahead of the trading day. sophie kamaruddin in hong kong. you are watching still prices. investor demand stories. where does the position put them? sophie: we have seen chinese steelmakers enjoy bumper profits are the rally in steel prices has been fueled by the government's measure to supply and rain in pollution and omissions. chinese exports of products. even with regulators rolling back, and going into may, that is peak construction season. the margin will likely keep the good times rolling. s&p global flat, profit margins are betw

. >>> blackstone is asking employees to return to the office starting on june 7th.his according to bloomberg. the move hinges on whether the workers are fully vaccinated now companies are looking to transition workers from remote set ups. >>> apple accused of breaking a competition law in the uk. the lawsuit over overcharging 20 million users there for apps the suit is calling ato compensate the users brian. back to you. >> a lot of stories there. frank holland, thank you very much >>> all right. we have to get back to the markets and your money your next guest says as more fears over inflation rear their heads, it is likely growth stocks take a big hit. there is some money to be had and made in some parts of the market the ceo of commerce and street capital is here with us. that is what we are seeing nasdaq down 2% plus yesterday. apple down 2.5%. one day does not a trend make. i get it nasdaq futures are down 150 points right now will we continue to see more selling in big cap technology stocks >> good morning, brian i think that is fair i woke up yesterday mornin

. >> blackstone hit a new all-time high so financials are favorite broad swath so favorite financial mike khouw >> i like morgan stanley especially as long as we have asset prices at relatively high levels, they've transitioned very effectively to the asset business that ben fits the from higher asset prices. another point in terms of valuation. only since the credit crisis we would talk about financials in terms of book value we say all else equal assuming they're in decent help if they get below one time book it is cheap but prior to the credit crisis we should remember we weren't saying they were expensive when trading at higher levels, two to three times, so jpmorgan at 2.5 times is a high level relative to its history since the credit crisis, yes, it's true for all financials in a longer history we can look at a lot of the big banks and you can see the multiples to book value often times were much higher. >> coming up, we're watching shares of nvidia, stock is down after latest report, the company's call is under way we'll bring headlines. and ford stock driving higher today. wh

. >> ...agrees to be bought by private equity firm blackstone group. >> we thought it was coming.me. >> that's right. >> this is a big private equity deal, right? >> it is a big private equity deal... >> sullivan: over the past decade, private equity investments in healthcare have doubled. >> hospitals and medical staffing controlled by private equity firms. >> private equity's business model is perfect for hospitals. private equity wants to buy an asset that's undervalued, reduce its operating cost, borrow a lot of money-- which ends up as debt on the balance sheet-- and then sell the hospital to somebody else in five to seven years, having made a 20% compound annual rate of return on their money. buy it, lien it, leverage it, sell it. ♪ ♪ >> sullivan: with the erlanger offer on the table, i headed to rhode island, where i'd heard there was an escalating fight over the role of private equity in two safety net hospitals there. >> the fate of fatima hospital and roger williams medical center rests in the hands of the health department and the attorney general. >> sullivan: the stat

we added blackstone. i see nothing wrong in the quality of adding financials, which we did, because we understand there's economic optimism we understand that there's earnings growth. now what is missing from that equation, scott? global covid trends improving. global covid trends are going to improve, and when they improve you are going to see further normalization in treasury yields towards 1.9% i don't care if the federal reserve doesn't think that there is inflation, markets respond to the perception of inflation. that's exactly what we're doing. in 2021, faangs are going to be fine, but it is also going to be about commodity-oriented, economically sensitive, cyclically oriented business they're going to outperform. that's where i want to be. >> okay. i like that i got you all wound up because it was fabulous counsellor cramer, you have heard the argument from the prosecutor here making his case on why he did what he did. what is your counter >> i would like a side bar, your honor, because i actually

the conversations we have been having with the major tenants like blackstone and other companies, wey form that everybody needs to fill out to tell their employers they had their temperature checked. we do testing on a regular basis with our employees i think other companies do the same thing we are encouraging, not mandating, but highly recommended people get vaccinated we offer incentives. days off, personal days. we are seeing the city and the building behind you is a testing center there will be a vaccine site in times square broadway is opening in the fall which will help the restaurants and create the vibrancy for the city museums are opening. restaurants with the outdoor space. the city will be better than it was pre-pandemic with the outdoor dining i think people feeling safe coming back into the city. >> bill -- >> a lot with the quality of life >> bill? >> yes >> let's talk about the quality of life and safety right outside of where joe is sitting at this moment, three people were shot in times square in daylight. killings are up by 17% year over year at this same time shoo

they were embarrassed and because it wasn't good for this this image of an entrepreneurial haven blackstone want to talk about because they were fearful finally 75 years later enough time has passed and there is a public commemoration of it sam. it's that mount zion baptist church and the white and black leaders come together to talk about the riot and there's a memorial built and that's unveiled and it's a day of reconciliation a day of healing and there's a lot of talk about this brings closure to this in our history. but there are others in tulsa black as well as white who say this is not about reconciliation. this is about justice. this is about restoring what we at what? we lost many years ago. this is about money. and so the movement begins to to first present a bill in the state legislature for reparations for the black survivors that of course doesn't go anywhere. so the commit the state creates the commission to investigate what happened and to consider the question of justice and that really is the last phase of the story. it's a mystery. it's a whodunit. where are the victims? wh

entry in the much publishing world buying hasbro -- for blackstone the label snoop dogg dr.ate equity like kkr, bought into one public asset a couple weeks ago. >> i -- >> broadway concorde also the largest owner of they being atrical titles, four deal that made that happen as well. maria: i was saying i love catalog story taking with mark in a while going to tell us about selling, some of the, catalogs to in athletic world going to tell us about memorabilia in a second, but before you go, we've seen a handful ipos in this space as well, is there triggering deals going public music ipos? >> there is. and part of it driven by the fact so many individual artists selling evergreen catalogs last, two, three, four, five months, from bob dylan, barry manilow, they've all sold catalogs to either majors or one step down from majors, and so it is creating a scenario in which both the big players and second year players are getting critical mass getting big enough to warrant a public offering, and so 10 companies go public in music space last few months there has been a -- in the type

i happen to know some people benefited from dividends of a company say blackstone. stuart: yeah.. you told me, you recommended, on the air, i just took your advice from the air, you said buy blackstone. bx is the ticker symbol. i bought it 31, 32, yielding as you told me i think it was 6%. i love that dividend. the stock promptly went from 31, 32 to 90 right now. so you gave me, thank you very much, david bahnsen, you locked into this program forever, you gave me a capital gain and a solid dividend payment as well. you're a great guy. bahnsen, you are a great guy. i don't care what they say, okay? >> thank you, thank you. tell my wife that, stuart. stuart: deal. david bahnsen, thank you very much. look at this, look at this 64% of millenials say they're unhappy with the purchase of their first house. ashley, why are they having homebuyers remorse? ashley: all sorts of reasons, stu. 15% of millenials were disappointed in the location they picked. 14% regret buying a home either too big or too small -- survey done by bank rate showed millenials, those aged 25 and 40, also had money

star entertainment is proposing and all stock merger and blackstone is sweetening its cash takeover bider would create an australian giant with a market value of 9.4 billion u.s. dollars. crown says it is assessing both proposals. tiktok's owner is setting its sights on china's e-commerce market. it attempts to take on alibaba. bytedance is able to generate over $185 billion in on air sales by 2022. the firm prepares for one of the world's most hotly anticipated ipo's. anna: laura wright with the business flash. that is a look at the commodities conversation. iron ore is extending its record run. trading opened in singapore this morning. there is rapid chinese demand. as the global economy recovers. fiona boal is still with us. thank you for sticking with us. dr. the commodities conversation and iron ore. you say it is complicated because of the geopolitics involved. are there developments we need to watch between australia and china that will have a substantial impact on the price? fiona: the supply side is interesting. the demand story -- reduction is still booming in china. the suppl

bloomberg learned blackstone group is asking for u.s.turn to the office full-time starting june 7 provided they are fully vaccinated. sources say the asset manager announced the move internally monday. j.p. morgan became the first u.s. bank to mandate a return to u.s. offices on a rotational basis. coming up, we will speak with jp morgan and ey ipo leader. daybreak: asia is next. this is bloomberg. ♪ ♪ ♪ look, if your wireless carrier was a guy you'd leave him tomorrow. not very flexible. not great at saving. you deserve better... xfinity mobile. now they have unlimited for just $30 a month... $30. and they're number one in customer satisfaction. his number... delete it. i'm deleting it. so, break free from the big three. xfinity internet customers, take the savings challenge at xfinitymobile.com/mysavings. or visit and xfinity store to learn how our switch squad makes it easy to switch and save hundreds. haidi: a very good morning. we are counting down to asia's major market open. shery: welcome to daybreak: asia. our top stories this h

need for zoom-free fridays because of too much stress in the workplace or that from john gray of blackstonere back in person and wanting to move away from video conferencing? >> look, wilfred, you know, i am a working parent myself. i have two kids, 12 and 9-year-old boys. we all came home in the pandemic it's been stressful. i would say for me going back to work, the best thing about going back to work when we do in person is the casual conversations in the hallway sitting next to my office mate who i miss dearly, who i may grab and have lunch with me on a regular basis. but the things that i appreciate the video world for, i can skip my grueling commute and maybe take my last two meetings at work and make bedtime for my kids as a working parent myself, it's my own experience it's the increased productivity that you get from choice and flexibility and also a recognition that sometimes you have to put your own boundaries in place. you know, the companies that you are talking about, we have a lot of the large financial services companies across the globe as our customers. we don't see them n

>> i think he called that blackstone and hilton both that day. both if you bought them -- >> did hell come >> no. >> did it even visit did it knock on the door >> no. >> was there an appointment in samara john o'hara's best? >> no. >> what it was carl, was a tremendous opportunity to buy stock much lower totally coincidental but these people want these stocks to go higher. and i applaud their decision to take what they want higher >> even if it means nothing to do with the fundamentals which you have relied on throughout your career as at least some sort of base case for the arguments you make as to whether to buy or sell a security? >> it's a tale told by idiots, signifying nothing, right? it's macbeth. >> okay. >> it's full of sound and fury, though, david. >> it's got a lot of sound and fury. >> jim, back in january, when this began, and we referenced the silver lake sale, the amc stock back then if you told me that gamestop would still be or if you total melvin and plotkin that it would be a $250 stock many months later, nobody would have exp

have one foot out the door or holders that don't understand it meaning it has a lot of young -- >> blackstone still owns a lot of this thing, right i think they've got some significant holders. >> but i will say it is a very good well-run company with a conservative management that said that look, maybe the rates can stay >> and they like the model, jim. they like the women first model. >> that's great. >> i think it's a terrific company. >> i don't know about the stock. >> you say that for a lot of things today. >> yes, i do >> get you ready for an opening bell and a look at all of the stocks in ju aewines ayitusst f mut it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app t

monitoring area but two months ago we doubled down our investment in diabetes, including bringing in blackstone help with that. and we're seeing the benefit of that we just launched, over the last couple of months, our new pump system in europe, right? this is our latest pump system, with our new sensor, and our extended wear set, all of the peripherals around it to last longer, seven day, the longest in the industry, and we are getting phenomenal feedback from patients on use ability. usability, but also the best clinical outcomes in the industry, now time and range as they measure it, you know, how often that patient is in the acceptable ranges of blood glucose. we have to get that in the united states, and it's pending fda approval, but that's a leading indicator that we're on our way back. >> yes, that's exactly where abbot started and i think the world of abbot competition is good. health care professionals always in your wheel house. you have 70 conditions in the human body you address yesterday in a very overlooked announcement alphabet's division opened up a really important initiative