for blackstone shares are up 13% this month alone. guy, you have been on this for i don't know how long at this point. >> steve schwartz is the man the entire group and i'll say this and i'll get added and blackstone is what they used to be and there's still room to the upside people say valuation is rich i get it, but there aren't a lot of folks out there that be doing what blackstone is and oh, by the way, we broke into the story a week and a half ago and that gets them in an entirely new vertical i'm going to say this and i'll probably ruin the day that i will say it, but the sky's the limit and it can continue to go higher >> to that very point, schwartzman on the call or in the earnings release says the second quarter is the most consequential ever for blackstone because of the moves in the new verticals, tim? >> it's exciting and if you look at exposure to asia at a time when it's not exactly very hot an incredible private equity business and i would agree, the smartest guys in the room and 37.3 billion including 19 billion in c

. >>> welcome back to fast we have some breaking news on both aig and blackstone.e higher right now. let's get more details with kristina partsinevelos >> thank you so this is a multi-billion dollar deal for blackstone to acquire roughly a 9.9% equity stake in aig's life and retirement business and also gives blackstone is major foot hold into the life insurance industry blackstone will enter into a long term agreement to manage an initial $50 billion in assets. also announced in the deal blac blackstone's nontraded real estate investment trust struck the option to buy $5.1 billion of u.s. affordable housing assets that aig has held on its book for actually decades but said that it's not core to its operations so this is news that's coming out just within the last hour, aig stock rallied about 6% and shares of blackstone up just above 3% in aftermarket trading. back to you, brian >> kristina, thank you very much right have some headlines there for worldwide exchange guy adami, 5:00 a.m. eastern time. your take on this and both moves in those stocks. >> might be an

blackstone is basically a real estate firm at this point.he biggest chunk of their revenue, more so than private equity, more so than other businesses. it's a matter of expanding into an area where they have concentrated over time. in terms of aig, they are looking to separate their life and retirement business, targeting an initial public offering. the ceo said in may it was the optimal path forward for that business. they want to focus on property-casualty. they want to attract alexa blackstone.interesting to see the comparison between the shares. aig has never been the same since the 2008 financial crisis. blackstone, shares have been up every month since november. kailey: 123% in two years. thanks very much. after a year-long delay, f45 training holdings goes public. we will speak to the ceo, adam gilchrist, live, next. this is bloomberg. ♪ amanda: welcome back. while the s&p 500 continues to trade near session lows, one stock is managing to hang onto gains. f45 made its debut today on the new york stock exchange. cofounder and ceo adam

why blackstone, biking? -- viking? they are our largest shareholders, have been fabulous supporters of us here at api. blackstone had a strategic interest in some time -- for some time in chubb. mary together our capabilities, the fact that we have real synergy from an industrial standpoint, combined with the fact that they own an awful lot of real estate where we have the opportunity to service them in their buildings, that is just icing on the cake. matt: i did not mean to compare that to a pipe, but just the idea of investing alongside experienced partners like this. do you prefer to do deals like that? martin: i go back to a transaction we did about 15 years ago, where jardin bought a company called american household. the analogy to the chubb deal is uncanny. it took us from being a very u.s.-centric business to being a truly global business. it was a large transaction, had lower than fleet margins with an upside opportunity. it was a win-win for both of us. we brought in about $350 million in a pipe. here is a si

we are on public comment of item 5 in the matter of cammy blackstone. press star 3 to be added to the public comment queue. please stand by. we have no callers in the queue. >> chair ambrose: public comment is closed on item 5. thank you commissioner bush for bringing out some of the background on the case. i appreciate it. i would like a motion to approve the stipulated settlement if there is one. commissioner chiu has moved. is there a second? thank you commissioner bush. can you please call the roll. >> clerk: (roll call) the the motion is approved. >> chair ambrose: agenda item 6, another proposed streamline taken off the consent calendar, decision and order in the matter of jennifer stojkovic complaint 1920-011. i'm going to turn to mr. pierce again to lead us into the discussion. >> thank you chair ambrose. and i'll give it back to senior investigator eric willett. >> this case is very similar to the previous matter resolved in item 5. the only difference here is that jennifer stojkovic upon reviewing her record noticed she failed to report one co

they struck a deal with blackstone. i own a little bit of blackstone. it is up today.they are splitting life in retirement units from its property and casualty operation so blackstone will manage those insurance policies, those retirement plans, helping to become a bigger player in the insurance industry and that is why blackstone is up, the best-performing stock in the s&p 500 today. stuart: blackstone is one of those conglomerates. >> they get 50 to manage. stuart: senator war must be apoplectic about blackstone. the dow winners, stocks on the dow, these are the best winners, visa, walmart, procter & gamble and merck. show me the s&p 500 winners headed by american international group and delta airlines, up a bit this morning. the nasdaq winners headed by netflix, up 551, charter communications adp, tesla round out the list. the big board is up 90 points. the 10 year treasury yield is one.32%. the price of gold is $1,827 an ounce. it moved up with inflation reports. bitcoin struggling, 31,$700 a coin, and the price of oil, gasoline, 315, it is up from one year ago. oi

success would break the $26 billion record held by blackstone.arlisle cofounder david rubenstein is the cohost of the david rubenstein show which airs on bloomberg television. global news 24 hours a day on air and at bloomberg quicktake, powered by 2700 journalists and analysts in 120 countries. this is bloomberg. dani: thank you. coming up, want to dine inside and italy? get a vaccine. we get the latest from rome as the prime minister decides on vaccine passports and whether they will be necessary. this is bloomberg. ♪ ♪ dani: welcome back. let's turn to the covid picture in europe where italy will restrict many leisure activities for the unvaccinated citizens. or those who haven't recently tested negative. this will be required to dine indoors or enter crowded venues. the prime minister says a surge in virus cases means vaccine certificates are needed to keep the economy open. for more, we are joined by our bloomberg reporter in rome. alessandro, what exactly are the details of this green pass? how do you get it? what venues will need to use it

matt: that was the coo and president of blackstone, jon gray, speaking with sonali basak.aking news on akamai. you may have noticed some important websites like airbnb, home depot are down. those are some of the websites that fell. akamai handles the web content for those sites and says it has resolved the issue, and it was not a hack. natural gas also rising to four dollars for the first time since december of 2018. commodities are on the rise. this is bloomberg. ♪ (announcer) back pain hurts, and it's frustrating. you can spend thousands on drugs, doctors, devices, and mattresses, and still not get relief. now there's aerotrainer by golo, the ergonomically correct exercise breakthrough that cradles your body so you can stretch and strengthen your core, relieve back pain, and tone your entire body. since i've been using the aerotrainer, my back pain is gone. when you're stretching your lower back on there, there is no better feeling. (announcer) do pelvic tilts for perfect abs and to strengthen your back. do planks for maximum core and total body conditioning. (woman) aer

so we, at the end of the day, even the life of bill gays and black rocks and blackstone in the united states rely on the kindness of china and the rest of asia to provide us with our goods. so where, what, how does that resolve itself? you would think that we would just build a bunch of ship factories here. we don't seem to be doing that. yeah. but that's usually the way a market works. so the question is, is this still market, you know, is there still a system out there that responds to price signals with new production? and i'm still program to think that that's a fairly easy fix just because for my entire lifetime, that's how it's worked. you know, if there is a shortage of something then, well, huge profit is to be made by going out and supplying that needed. and so we'll see in the next few years, it's possible that we're just so broken in terms of our trade relationships and technological abilities that we can't do that i still think we will. and i still think that part of the broken supply chain will be fixed, but it will be fixed that had higher prices, right? because we make

back to you guys >> blackstone hoovering up the assets christina, much appreciated. >>> up next, mikeof 2019 may not or may we blle more relevant we're pack in a couple minutes (realtor) the previous owners left in a hurry, so the house comes with everything you see. follow me. ♪ (realtor) so, any questions? (wife) we'll take it! (realtor) great. (vo) it will haunt your senses. the heart-pounding audi suv family. get exceptional offers at your local audi dealer. - [announcer] dearest pizzerias, oh, guardians of the pie. - ooh! - [announcer] thanks for making every slice worth torching the roof of our mouths. - hiya there- - [announcer] if you're a serving late, so are we. (pleasant orchestral music) (bike rattling) >>> time for a cnbc news update with shepard smith >> thanks, for the news on cnbc here's what's happening. senate democrats meeting with president biden on the hill unveiling a $3.5 trillion spending plan. the senate majority leader chuck schumer says that human infrastructure will be transformational with investment in jobs, families and climate programs, schumer calling

>> i like blackstone very much i keep buying.irst time caller, long time listener >> first time, long time go ahead >> so, question is very unique situation right now with all of the microand macro drivers for steel at this time, what is the two to eight month thoughts. >> two major steel producers in the country. now both of these stocks were under pressure people feel like we didn't get the infrastructure package it is four times earnings. cleveland is not going to have that happen. i want to buy the stock and put it away. matt in connecticut. >> boo-ya jim. >> my pleasure >> i was looking for a good dividend yielding stock. i stumbled upon a company golden ocean. gogl >> right >> it is a norwegian shipping company. it is up too much. the 2.5% yield ain't going to help if there is a slow down of world trade. mark in massachusetts. mark >> how is it going jim >> not bad >> i had a stock for you >> okay. >> i am wondering crsp >> buy buy. >> bit of both a speculative stock up 100 plus points i think you can buy a half position be

the sale to blackstone includes hotels which mgm will continue to manage.lling real estate to raise cash for new construction opportunities and online betting investments. a new unicorn is born. it has raised $415 million from a group of investors including softbank's vision fund 2. they marks one of the largest funding rounds for the company. the ceo says the capital is now enough to seed global expansion. nissan says the global semiconductor shortage could ease before the end of this year. the chief operating officer told bloomberg that a lack of chips had not slowed down any new model launches but it has forced the company to adapt. >> semiconductor prices is a new normal for us post-pandemic. this crisis has taught us how to plan for the unpredictable scenarios. we are adjusting our production but i'm pretty sure we will be out of the woods soon. haidi: let's take a look at the stocks we are wanting as we head into the start of trading this friday session. sophie: we are watching carmakers. toyota posting a 72% yearly jump. hyundai warning that inventor

the sales of blackstone include hotels which mgm will continue to manage.een selling real estate to raise cash for new construction opportunities and online betting investors. a new unicorn is born. the kitchen start up has raised $415 million from a group of investors including softbank vision fund two. it marks one of the largest funding rounds for a middle east company and the ceo says the capital is not enough to seed global expansion. shery: here in the u.s., we are getting ready to celebrate independence day and bloomberg will be broadcasting one of the fourth of july big events, the boston pops fireworks spectacular and you will be missing me on asia monday because i will be watching that. went aboard the august navy ships still afloat which played a key role in the war of 1812 against the british. shannon has the story. shannon: the uss constitution, also known as old ironsides, is the world's oldest commission worship afloat. >> we try to talk about her, really bring that history to life. >> it earned its nickname during the war of 1812 when britis

blackstone also has many of its employees already back >> many. >> a vast majority financial services, i think is an outlier when it comes to the new world of work >> i do too. personally, you know -- >> blackstone, may but its portfolio companies, they're all going to be like 2, 3, in terms of days in, days out that's the world that is going to be the world for corporate america it seems. >> don't you think morgan stanley the flows are amazing. they have huge flows wealth management is absolutely perfect business i think the e-trade business is crushing it. i like what they're doing with e-trade very much. >> wealth management up 30, right? probably the most important part. >> yes, yes, that's big. you know, robinhood versus -- robinhood is nothing versus e-trade frankly. return on equity of 14%? how about that >> yeah. and rotce of 18.6% during the quarter. yeah >> i mean, look at what's the amount versus the last 50 years. >> they doubled the dividend when they were allowed to by the capital return they obviously also committed to buying as much as 12 billion in stock back over the

aig will also sell affordable housing to blackstone for $5.1 billion.idered developing an alexa-powered wearable for children, but out son clear whether the project moved forward. the gps-equipped device would let parents monitor their kids and give access to amazon's children-focused content. amazon exported the content as part of its product roadmap for the following year. jeff bezos will give $200 million to the smithsonian national air and space museum. it will fund the creation of the bezos learning center. the washington institution says it is the largest single donation since the founding gift of jv smithsonian in 1846. david: let's give you an update on what is happening. let's measure it from the china open. we are seeing a little bit of a pickup in the things like financials and banks. that is lifting, to some extent. the big story these last few minutes and is still ongoing is this press briefing out of the bank of korea where you had one member opposing the decision to keep rates unchanged, and the vote went to a hike at some point. have a l

we had benefits of being sponsored by blackstone for seven years now.r ways to power their businesses and activities with renewable energy. it's a very real thing happening now. it takes the buildings and parking lots that these buildings occupy and turns them into solar generation. >> and you become a distributed power supply or you already are, because this business is already in existence. but are there any impet ddiment? we already about road blocks are there things that need to be overcome >> absolutely. a great question one of the interesting things we get from cbre is massive amounts of data. and they have data on consumption of energy from elevators, hvac equipment and buildings. when you take the solar that they have now, in the near future, we're going to be able to combine it with energy stora storage and we're ultimately connecting buildings with others and that becomes a smart grid. we're not there yet but that's ultimately where we're coming. >> bob, coming back to cbre, you held that out, is that a new significant generator? not necessari

let's go first up blackstone.ife and retirement business it will manage $50 billion of the portfolio with the amount rising to $3 billion in the next few years. blackstone and aig are higher right now. >>> stock number two netflix. hired a former facebook executive to run the video game business it wants to grow a video game business to get beyond streaming shows and movies >>> finally the memeiest of meme stocks amc is down 41% in july. gamestop is up by 23%. have no fear, long-term holders. a couple of months, i mean monstrous gains for the year up more than 1,400%. games and movies you go >>> on deck, your morning rbi. why many of you, all you out there getting on the road for work, a lot sooner than you think. incredible stats on business travel ahead we are back in a moment. c'mon caleb, you got this! and if you don't, there are other options! umpire: ball! good eye! good eye! eyes are good for lots of things. like reading! be the best, caleb! statistically impossible, caleb. umpire: strike three, you're out!

blackstone group is adding two investments that target sustainability and climate change.gives blackstone access to the software segment of the so-called environmental, social and governance sector. it provides data and consulting services to more than 3000 customers in more than 100 countries. the semiconductor shortage hammered sales at jaguar land rover. they say deliveries will be 50% worse than initially planned. other automakers also warned of a squeeze due to the chip shortage. that is your latest business flash. taylor: thank you. we are going to stay on that's really important story we have been following on the chip shortage, how it is continuing to weigh on automakers. bloomberg's david welch joins us. it is hardly just a european story. this is global, and a u.s. story as well, right? david: that's right. gm, ford, even tesla say they are down 2%, even 3%. there's a clear knock on effect because of the unpredictable nature of the crisis. it doesn't affect just one automaker. everyone is scrambling to get semiconductors for all of their vehicles. car companies a

blackstone group, private equity firm, gigantic private equity firm.ast year, blackstone at $109 a share, 3% up so far this morning. thank you. i follow closely. las vegas sands, that stock is down hurt by continued travel restrictions in macau and singapore, down sharply, 4.7%, las vegas sands. look at the dow winners, there are some. microsoft tops the list up for dollars, one.3%, salesforce, apple, verizon, united health round out the list. is in the winners, first energy, domino's pizza with a 5% gain, csx, railroad, union pacific all on the list of winners. go to the nasdaq, top performer csx, they split from 800 to below 200, back up again this morning. the real winners on the nasdaq lists. here's another winner. they make those interesting looking shoes. record revenue, raised their full year guidance, strong demand around the globe, 11%. >> i don't wear that with stocks. >> so many wear them, they don't run as well. stuart: the smell of the plastic. stuart: i am going to get sued, they own 5 pairs each. intel report after the closing bell. laur

anna: that was the blackstone president john gray. u.s. european futures are calming this morning. let's talk about the earnings season. nigel bolton is with us. nice to speak with you. thinking about the themes of the earnings season, and ability to price on higher input costs to consumers seems to be one of the features that the market is focused on. how much are you focused on pricing power? nigel: absolutely key. the ability to press up on some pretty significant price increases is really important. that will be a key differentiator for stocks and not just for this quarter but for the rest of the year. it is a really big focus for us. mark: good morning, nigel. and not just on an individual company basis but on a sector level, which sector 19's that pricing power? nigel: i don't think it is as simple as that. you can have winners and losers within the same sector. we have already seen that. i think it is much more nuanced. it is much more stock specific. you have some prizing -- pricing issues in some sectors. and you have some brandin

an outfit called blackstone, started by the guy his friend introduced him to.d. one of those opportunities of a lifetime, ordained from above, according to doug. >> the whole thing kind of fell into his lap. and i think he thought that that was his calling from god, was to move forward in that lease. >> an oil lease, that is. a lease that would give doug and any partners he could bring in the exclusive right to drill for oil on 640 acres of land on the mha indian reservation. the catch was that sort of opportunity doesn't come cheap. so you had to raise some money. >> oh, yeah. the lease was almost $2 million. >> and to raise that doug carlile tapped his friends around washington state, his business partners, even his kids. >> i put $100,000 into it. it wasn't for a return or anything. it was to help him with his dream to fulfill that. >> but the next step to fulfilling doug's dream was even more daunting. finding investors to pay for drilling as many as eight wells on the property. and that price was much steeper. more than $100 million. but the potential payo

financial stocks right now are better to own, whether it's fin tech, the private equity names, blackstone, blackrock and others publicly traded or the traditional money center banks which really get the ball rolling in terms of earnings >> yeah, i think there's different drivers even though they all get lumped together absolutely different drivers of the businesses here. and when it comes to something like a blackrock, we've seen over the last couple of quarters and you'd expect it to continue here is that they've been bucking the trend and seeing fees move higher which is not a trend that's been happening. we've seen many, many years of fees coming down across the board, especially with passive vehicles out there but blackrock has done an excellent job of launching a lot of new product that does carry a higher fee they've been able to not only have more asset comes their way but it's been at a higher fee level. that's been certainly a positive trend that they've seen there. but it's very different from what's happening in a money-centered bank, although i will say something like a jpmorg

not an eliminate the position but this is just, you know, a perfect -- perfect storm of good for blackstonetake some off the table >> okay. we hopefully will have josh brown's audio after the break. i know you want to hear more about the trade he made. i think just before the show in fact the bristol myers. up next two bullish calls on dow stocks, honeywell and boeing yo'. if i could, i'd ten-x everything. like... uh... these salads. or these sandwiches... ten-x does the same thing, but with buildings. sweet. oh no, he wasn't... oh, actually... that looks pretty good. see it. want it. ten-x it. yum! when you buy this tea at walmart, walmart can buy more tea from milo's. ♪♪ milo's can create new jobs, jobs for people like james, and lacey, and me. me, i love my work family. family here and home, is my life. life is better for us because of a job. a job created when you buy this tea at walmart. ♪♪ at walmart. ♪ ♪ ♪ cisco. the bridge to possible. all the things, all around you... where you learn, work, and fly... we help make them healthier. we are the people of abm. for more than 100 years, w

you have an open invitation to come back anytime and with cindy blackstone, thank you so much appreciate you make which wilful and reckless discrimination in a worst case scenario, causing the unnecessary family separations for 1st nations harm to children. and sadly, the desa some children. this isn't a quote from a 100 years ago. this is from a 2019 legal decision against the canadian government. the canadian government provides on equal fell barrels public services for 1st nations, people and amex bar harder to recover from the trauma residential schools. this generation appreciation kids goes into foster care, 14 time to read of other kids, more kids in the cares in a residential school. let's make sure this generation doesn't have to recover from their childhood. so that gives you some insight into what aliens are talking about right now regarding their residential schools and the legacy wants to for stream episode a stream, but out era dot com. it has been a while since protest in columbia have made it international news headlines. demonstrations began at the end of april in respon

morgan chase deals, the goldman sachs deals, and other deals that i just mentioned from blackstone, black rocket and mergers and acquisitions. activity because you're getting much bigger because they're borrowing the money for rough thing. i'm not saying as really the little people have land they have to pay that $27.00 i think is point 5 percent interest rate. when you rate on a day on your credit card, right? absolutely. now that that's what i call interest rate, apartheid, and i want to get your thoughts on. now looking back at the 1900 seventy's, it was interesting because we had similar high unemployment and a lot of money printing. we had the stack lation today. it's a little bit different in that they are responding with the stimulus tracks and enhanced unemployment benefits as well as rent moratoriums. so consumers don't really care about behind playstation. so much so instead of a war gerald to distract, they seem to now figured out that they'll just send people stimulus jacks and hope that they don't notice 100 percent. right? because everybody knows you, you know, any where you

it's like a car comes off the lot, you don't see the -- >> you sell the portfolio to blackstone soon public. >> people were asking whether blackstone is the way to play housing. >> i don't know. >> i don't know. >> by the way, blackstone, again, one of the firms i think is requiring a fairly robust return to the office. >> they are? >> yes along with goldman sachs, stanley morgan there are different approaches jeffreys, for example, not ubs, contr ci citi after you're out of financial service, just no one i speak to who runs these companies is -- because they do surveys of their employees. the employees say, yeah, we want to be able to work from home at least a couple of days a week. >> employees' views matter because the competitive marketplace. >> right >> i mean, typically -- do you believe -- you and i can be viewed as a triceratops, whatever dinosaur you want to call us. >> i think so. >> when you talk to people of our cohort, let's call it, there is a belief that there is a benefit to being in the office every day. that doesn't seem to be shared by those far younger than we are

>> i mean, look, blackstone invested at a $2 billion valuation a year ago all the fundamentals have gonet about inflation. this is an oatmeal company their biggest driver are oats which are up 30% year-to-date well above where they were when they ipo'd they use rapeseed oil, that's up 30%. >> ben, this is where i think some of the allegations you're making are getting confused. there's an issue here, which is you can make an argument about the fundamentals of the company. you can say commodity costs are going up you don't believe the company is sustainable, consumers aren't going to believe that, and then come up with a valuation issue there, and you might argue that the stock isn't worth what it is today. i understand the argument, the other is that effectively you are alleging that these people are doing something arguably illegal by effectively either falsifying or providing misleading statements to the public about what's actually happening at the company and the reason i keep going back to these two issues is they are different. >> okay. so let me be crystal clear on this point i be

despite west exec's efforts to -- linked in, blackstone, bank of america -- look at the list., at&t, royal bank of canada. talk about revolving door between big business and government biden's group have turned into a spinning centrifuge, no one cares, that is how the swam works -- swamp works but we care, as promised e jason chaffetz is back with us. >> these are people they know if a democrat gets into the white house will be the senior administration official, form -- you normally hire a company like this to do the lobbying but this is opposite of the lobbying, you get access to the people could make you're case to the people, they will be the same people that are running the administration. as soon as a democrat takes off, they are paid untold millions, we're don't know. they are able to hide behind some disclosure laws, they don't meet 20% threshold on lobby. steve: they say it not lobbying, it since -- it is influenced peddling, these people, i think that jen psaki said we're the most ethical administration. this is a joke. >> they are not open in transparent about hunte

make multiple awards fast-growing delivery startup go puff has raised millions from investors like blackstoneelity, increasingly shaking up delivery market dominated by doordash and uber eats by making seemingly contrarian bets. joining us to discuss come our guest eric great to have you on the show. -- guest. great to have you on the show. talk to us about how you stand out from i know you call them partners, uber eats and doordash. >> thank you for having me today. when we started the business years ago, we bootstrapped this company and before launching, we both worked with our parents in a small business setting. family are immigrants and worked really hard and i helped my dad build skeleton jewelry business and i worked with my parents in the restaurant business and we saw the importance of hard work in building a business that is already sustainable so the way that we built our business was with averted integration in mind so exactly what you said, having micro fulfillment centers across the u.s. and being able to control the customer experience as well as having really great margins. so

blackstone, please. that's an all-time high, $112 a share.nley, by the way, thinks it's going to $124 per share. full disclosure, i own a thin shiver of blackstone, and i've done very well with it, thank you very much, indeed. >>> show me pfizer -- todd, with us this morning. he'll be with me for the hour, by the way. glutton for punishment, this guy. do we know how effective the pfizer jab is against the delta variant? >> we got some numbers from a pretty reliable source. two shots of pfizer, your protection against delta is strong according to a study in the new england journal of medicine that found the shots were 88% effective against the delta variant, 93.7% effective against the alpha variant. for those receive ising only windows was 33.7%, that's a huge drop. delta, as you know, over 200% more transmissable than the original covid virus -- stuart: so you've got to get the second shot. you've got to do it. i'm vaccinated, fully vaccinated, i encourage others to do the same. >> likewise. stuart: very good. italy introducing green covid p

they would have raised $2.5 billion in two rounds more than tripling valuation blackstone is a new investorand told the majority of funds are earmarked for global expansion i mentioned doordash and uber hot on their heal. showing dash took market share from gopuff in 2020. we have to mention that gopuff is a two-time cnbc disruptor 50. do find out more on our disruptor trailer. >> you wrote the intro you've got to sign up for the news letter. shares of auto part maker veoneer are up after words that they'll be boughbyt magnet. the ceo of magnet here next. undeniably versatile. unlimited 2% cash back. this is the card built for... ...real life. (dad) she's gonna be a drummer. (cashier) yeah she is. that's gonna get loud. (dad) right? (vo) the new wells fargo active cash visa credit card. unlimited 2% cash back on purchases. that's real life ready. ♪ ♪ ♪ digital transformation has failed to take off. because it hasn't removed the endless mundane work we all hate. ♪ ♪ ♪ automation can solve that by taking on repetitive tasks for us. unleash your potential. uipath. reboot work. baaam. internet

blackstone for $2.2 billion in cash. two firms will begin a long-term asset management partnership. that stone will initially manage $50 billion in the life and retirement portfolio. aig will sell affordable housing assets to blackstone for $5.1 billion. america is up beat on retaining young talent. our interview with brian moynihan is just ahead and don't miss out on another big interview. here exclusively from the ceo of the indonesian investment authority. this is a new sovereign wealth fund. this is bloomberg. ♪ in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. >> this is "daybreak asia." i am vonnie quinn. jerome po

tom: jonathan gray with blackstone. bloomberg wealth and david rubenstein.is a penetrating interview. on top of where we are into the summer of post-pandemic or coming out of the pandemic. jon gray with real wisdom. look for that tonight at 9:00 in new york. romaine bostick and matt miller in for jon ferro and lisa abramowicz. romaine, where are we on weibo? romaine: we are basically where we were a few minutes ago. up about 11% or 12%. we work well above 70 a little while ago on that report out of reuters the company might be considering coping private -- might be considering going private. a brief statement that report is "not true." tom: always true is barry ritholtz, dead on with market wisdom and particular the joy he actually runs money, which is a clarifying experience as well. let me start with that. you have a chestnut report of some of the scenes of investing, some of the things to do right. what i have always found true is you cannot model out without having real money in risk. your models are what they are. you have to enjoy the joy of losing mon

it would be 46% larger than its 2018 flagship and break the $26 billion record held by blackstone froms -- from 2019, shery. shery: take a look at the markets. the kospi gaining ground. we have communication and materials stocks leading the gains. we have foreign investors buying into local shares again despite the fact that of course we continue to see worsening cases of coronavirus already reporting record infections this week. we have seen that korea will extend the current distancing steps for two weeks. we are also watching the asx 200 under pressure. sydney's daily covid cases climbing to the highest since the current outbreak began. kiwi stocks down .2%. we are watching the kiwi dollar also closely given it weakened on reports that the government will be assessing whether to close all quarantine free travel from australia, haidi. haidi: let's take a look at the fx side of things as we continue to count down to the opening ceremony in japan. it is a holiday for most parts of the market, but we are seeing dollar yen holding pretty steady. it was a strong session for the dollar ind