the landlord is blackstone group so since there's been a alleged recovery in housing prices since the crash in two thousand and nine but most of it is gods of the likes of blackstone group and if you look at that house prices actually i saw a great chart from i think it was the financial times that price an s. and p. five hundred actually house prices have been declining so it hasn't been performing as well as s. and they've been underperforming the stock market oh my god blackstone arbitrage opportunity you have wrought selves i suggest you short yourselves of borrow money into you eviscerate your own corporate balance sheet and then blow your brains out on live t.v. they gave us all of the kind of fun experience for the financial predatory class. well don't go away much work coming your way after the break so stay right there. are you do believe he can mimic will resume funding in the realm of education the right to education is being supplanted by the right to access educational loan higher education is becoming just another product that can be bought and sold but it's not just abo

the landlord is blackstone group so since there's been a lead to recovery in housing prices since the crash in two thousand and nine but most of it is gone to the likes of blackstone group and if you look at that house prices actually saw a great chart from i think it was the financial times that price an s. and p. five hundred actually house prices have been declining so it hasn't been performing as well as s. and they've been underperforming the stock market oh my god blackstone what arbitrage opportunity you have wrought selves i suggest you short yourselves of borrow money into you viscera your own corporate balance sheet and then blow your brains out on live t.v. they gave us all of the kind of fun experience for the financial predatory class. well don't go away much work coming your way after the break so stay right there. both the united states and russia have announced their nuclear weapons posture both countries are in tree a new age of war the age of hypersonic weapons we now in the new arms race. are you economic war is unfolding in the realm of education the right to educa

in two thousand and nine but most of it is gone to the likes of blackstone group and if you look at that house prices actually aside a great chart from i think it was the financial times that price an s. and p. five hundred actually house prices have been declining so it hasn't been performing as well as s. and they've been underperforming the stock market oh my god blackstone arbitrage opportunity you have wrought selves i suggest you short yourselves of borrow money into you eviscerate your own corporate balance sheet and then blow your brains out on live t.v. they gave us all of being kind of fun experience for the financial predatory class . but don't go away much more coming your way after the break so stay right there. baby and. say this on march eighteenth vote with your remote to zante for special coverage of the russian presidential election exit polls opinions real time results monitoring and much more. like a war zone with you on the idea that dropping bombs brings us to the chicken hawks forcing you to fight the battle. to stop to try to tell you that every gossip the pu

the landlord is blackstone group so since there's been a alleged recovery in housing prices since the crash in two thousand and nine but most of it is gone to the likes of blackstone group and if you look at that house prices actually aside a great chart from i think it was the financial times that price an s. and p. five hundred actually house prices have been declining so it hasn't been performing as well as s. and they've been underperforming the stock market oh my god blackstone one arbitrage opportunity you have are automatics just selves i suggest you short yourselves or borrow money into you viscera your own corporate balance sheet and then blow your brains out on live t.v. they gave us all of the kind of fun experience for the financial predatory class. well don't go away much work coming your way after the break so stay right there. it's been almost fifty years since we've had human beings on the surface of another planetary body and i hope that we could actually put together an international lunar exploration initiative much like we have the international space station conso

the landlord is blackstone group so since there's been a alleged recovery in housing prices since the crash in two thousand and nine but most of it is gone to the likes of blackstone group and if you look at that house prices actually aside a great chart from i think it was the financial times that price an s. and p. five hundred actually house prices have been declining so it hasn't been performing as well as s. and they've been underperforming the stock market oh my god blackstone arbitrage opportunity you have wrought selves i suggest you short yourselves or borrow money into you eviscerate your own corporate balance sheet and then blow your brains out on live t.v. they gave us all of the kind of fun experience for the financial predatory class. well don't go away much more coming your way after the break so stay right there. is a global trade war if donald trump follows through on increasing terrorist and ending existing trade deals it seems very likely after all this was at the very center of his campaign for the presidency it was a promise he made to his base to let make america

anna: that was the blackstone group ceo steve schwarzman speaking to betty liu.ll with us, chris willey. china and theut latest trade policy. larry kudlow talked about how the chinese did not play by rules, mike pompeo stepping up and he talked about pushing back against the china threat. does this look from that perspective for china or are they withstanding all of that? no doubt thats things are hotting up. anyone who has done business in this has been over decades. barriers,significant hard and soft barriers erected. it has not been a two way street. we're moving into this phase up.e it is hotting policy see some response. we will see some give with china. where it will get interesting is how much compromise will be enough compromise in the eyes of the u.s. administration because of you want to take this to its extreme it could get pretty aggressive. i am not sure that is where they want to take it. this is more about signaling. i cannot say i am terribly optimistic. we will see a major shift in the playing field perhaps to the degree that was just alluded to.

the landlord is blackstone group so since there's been a allege recovery.

blackstone group is doubling down on investor interest in asian real estate, according to people familiar -- they have raised a record 7 billion dollars for a new property fund. the blackstone first asian real estate fund raise $5 billion years ago. powerful boards emerging, the financial services roundtable will join the clearinghouse association, a trade group. members of the financial services roundtable include the biggest u.s. banks who supported the trump tax overhaul. the organization will be allowed -- led by the clearinghouse president. that is the latest bloomberg business flash. it was a day of declines, ending the six-day winning spree, the best since october last year. the u.s. mulling over cpi number and the backing of secretary of state rex tillerson. this is bloomberg. ♪ david: it is 1:00 in washington and 5:00 in london. i'm david westin. shery: i'm shery ahn. welcome to "bloomberg markets: balance of power." david: here are the top stories we are watching at this hour. change at state. rex tillerson reads on twitter that he's been fired by president trump, who wants the

blackstone group's ceo steve schwarzman says there is clearly a serious imbalance and trade barriers between the u.s. and china. schwartzman is seen as close to beijing and president trump, and has reportedly counseled the president against imposing tariffs. he told bloomberg television china's leaders understand that as their economy develops, the playing ground needs to be level. >> there is no doubt that there is a serious imbalance between the u.s. and china in terms of market access, and tariff levels ,nd nontariff barriers investment limitations, and part of this happens in the natural course of things. >> u.s. agents are said to have -- the saipan's casino office. fbi investigators took documents from imperial international, the company says it knows nothing about the claim to raid and denies wrongdoing. in. attracted attention for the sure amount of money recorded at the saipan casino, which is larger than at the grandest resorts. angela merkel is starting her fourth term as german attracted chancellor, swearing-in -- six months of political drift. coalitions of the conservat

we will be speaking exclusively with the blackstone group's co-founder and ceo, steve schwarzman on u.sina relations. that will be at 9 a.m. in sydney, 6:00 a.m. in hong kong, and a 6:00 p.m. right here in new york. this is bloomberg. ♪ >> a quick check on the business headlines, the world's largest bank has been told -- says i feet bc sales comply with the banks secrecy act to require lenders to some -- to report suspicious activity. days tos been given 60 improve plans on controls. is missed" us payments to some suppliers in recent days as it heads toward expected liquidation. that toare telling us zahra's failed to respond to questions. the chain filed for bankruptcy in september under the weight of $5 billion of debt. volkswagen is stepping up the .hallenge to tesla that the deal wonder undermine the push into electric cars in the mainstream model three. volkswagen says it will equipped -- equipped 16 factories to produce electric cars up from three. it aims to turn up three vehicles per year by 20, 25 -- 2025. >> up next, the latest on the election in pennsylvania. republicans are

david: that was the ceo of the blackstone group.xt, the united states imposes sanctions on russia and joins with allies to calling for an explanation on what happened in england. we will be talking with the president of the wilson center on what this may mean. live from new york, this is bloomberg. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. ♪ david: this is "bloomberg markets: balance of power". shery: let's get a quick check of major averages with the gout -- the dowense of 1% gaining 8/10 of 1%. industrials and financials leading gains and we are seeing energy and materials fall on the s&p 500 while the nasdaq is losing ground for a third consecu

. >> blackstone group chairman and ceo steve schwarzman understands both sides of the u.s.nship as an international investor and advisor to president trump. 10 exclusive interview with betty liu, he put the debate into perspective. >> there's no doubt that there is a serious imbalance between the u.s. and china in terms of market access and tariff levels and nontariff barriers. the part of this happens in the natural course of things. when you are a less-developed country, you have higher tariff laws. we did that in the united states in the 19th century, and it helped build the united states behind the protection of those restrictions. , withsue now is that china having such a large economy, even though per capita it is not as big as one would think, the but in terms of aggregate size it is the second biggest in the world and it is growing at double the rate of any developed economy. it's sort of time to make that change, to make that transition. i think that the senior people in china will understand that, because it's in their interest as well as other countries. if you d

daybreak australia, tomorrow we have the blackstone group co-founder.exclusively to discuss u.s.-china relations, geo scholarship his program. michael mckee speaking to get his trudeau, views on paris, the status of nafta. given all the headlines we have had this week. that takes place 6:30 hong kong time. this is bloomberg. ♪ ♪ david: this is bloomberg markets asia, i am david ingles in hong kong. haidi: i am haidi lun in sydney. says thereom india is talk of buying allied metals and distillers. talks to center on the owner of jim beaver -- the owner of jim beam bourbon. giving them distribution rights. hnad: china's struggling group selling its 25% stake to help pay down some of its debt. helton agreed to remove a lockup. at the close, the stock had risen pretty strongly. the group has cut its stake in deutsche bank, and some of its properties in london, sydney and hong kong. one of the world's largest assets has been told to fix its own -- its money laundering program. failed toid icbc comply with the secrecy act and maintain adequate compliance. giv

. >> steve schwartzman the co-found ore it have blackstone group made close to to $787 million last yearose according to numbers we -- paid out in dividends from partnership units. fueled a lot of the payout 125.5 million was in total compensation bring ugh to 786.5 million total take home from blackstone for 2017 for suarezman. 2015 mud in 811 million or so for reuters. -- for last year up about 24%. back you do. >> can't trade that one. i was thinking same thing. >> as we often talk about is to bes amongst us guy wuss taas talking about -- >> power pitch. >> but the story on blackstone this is an environment seeing a lot of exits in terms of the private equity compression on fees but these guys are in the right places at the right time it is still a great environment for them. >> let's switch gears. american outdoor brands. formally smith and wesson. >> we're talking about american outdoor brands no at very big company obviously because the gun debate, the gun discussion has been very much in focus as well. american outdoor brands. forget about earnings per share. they are a penny bett

night with rudy giuliani, giuliani's wife, judith, as well as steve schwartz, the chairman of blackstone group and tried to convince them that these new tariffs he has announced the day before the white house were going to be far more popular than these gentlemen assumed. >> tariffs, okay, specific to tariffs. i just misheard that in the discussion specifically about trade. despite all of the responses we've seen from around the world, as well as within his own party, he also, i understand from your reporting, was asking aides or those around him, had jared kushner done anything wrong? >> that's right. he has seen a lot of coverage. the real drum beat over the last several days about jared kushner and his connection or the scrutiny, rather, he is receiving in the russia probe and he's been asking people inside the white house and others whether they think jared kushner or his company has done anything wrong. the president, of course, is defensive of his son-in-law, kushner. he hates the fact that he's being blungeened in the media and the president is frustrated that there are not many on cabl

juliette: blackstone group ceo says there is clearly a serious imbalance in trade barriers between the u.s. and china. he is seen as close to beijing and donald trump and has reportedly counseled the president against tariffs. >> there is no doubt that there is a serious imbalance between the u.s. and china in terms of market access and tariff levels andnontariff barriers investment locations. and part of this happens in the natural course of things. juliette: global news, 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. guy. matt. matt: asian stocks fluctuated and the yen gained some ground after u.s. equities fell for the third day in a row. this as traders suggested comments from -- larry kudlow. joining us from singapore is mark cudmore, bloomberg mliv strategist. become -- he is newly protectionist when it tradeto the china-u.s. relationship but he seems to be a strong supporter of nafta. can we take some soulless and solace in that? too markets.atters it is not just a story about canada and mexico good there will be

he also co-founded blackstone group, one of the world's largest private-equity firms.e peterson was 91 years old. and, the last male northern d white rhino has died of e, at a conservancy in kenya. the 45-year-old animal, named sudan, was euthanized monday. scientists hope his stored semen can be used in two surviving females and save the sub-species from extinction. the rhinos had fallen prey to rring armies in their african habitat, and to poachers. still to come on the newshour: privacy concerns raised, after a company collects data fromli 50 m unwitting facebook users. congress races toward another deadline to pass a spending bill. an abortion case before the supreme court. and, much more. >> sreenivasan: facebook hasho been a powe and a corporate giant for years now. tonight, it's facing criticism and concerns about privacy and security at a whole w level. the company is pointing fingers at the political firm, cambridge analytica, for misusing its data that firm suspended its c.e.o.,l ander nix, today. but facebook's own decisions around safeguarding data and othe

he was a senior managing director of the blackstone group and a founder of gso capital partners. re hearing he is expected to leave the firm before mr. smith. within the alternative capital division, now leaving blackstone. more details when we get them. more coming up. this is bloomberg. ♪ ♪ you are watching bloomberg markets. i'm abigail doolittle. time for charting futures. we're taking a look at how to play at a potential trade war. stocks lower today because president trump plans to impose $50 billion in china tariffs over intellectual property violations. the president is expected to announce details on possible actions today. chinaf the criticism of has been for halloween the american manufacturing sector. industrialith 24% stocks may be more sensitive to this action. -- at this point down 1%. the dow is lower at this point, we see this chart down 1.5%. 8% below all-time high. do the technicals suggest more declines ahead? or a bullish reversal of the near term there is action? -- the near-term bearish action? we see an uptrend of the dow. points to theity possibility if th

yvonne: that was blackstone group chairman steve schwarzman. go to dayb on your terminal.on your mobile in the bloomberg anywhere app. customize settings to get news you care about. this is bloomberg. ♪ ♪ yvonne: this is "daybreak asia." i am yvonne man in hong kong. betty: i am betty liu in new york. leavinggenerale leader over a legal matter that predates his appointment. the bank has not identified the issue, but said he resigned to preserve the company's general interest. socgen is under investigation in the u.s., for bribery in libya. yvonne: shares fell on worries of suppliers keeping up with the pace of production. spirit air facing hurdles in boeing's most737, popular planes. boeing wants to produce 57 of the jets by the end of next year. betty: in the next hour, samsoniteo that, chairman going over what it could mean for the travel industry. this is bloomberg. ♪ yvonne: we are live. yvonne:welcome to daybreak asia. thought -- stocks under pressure. opec saysis slide as reduction from independent rivals will be a big deal this year. it is just after 8:00 on this we

the biggest client group of many of the brokerage firms you might think of and they are really underpenetrated in the business. erik: in the past blackstoneinstitutional market was the source of $400 billion plus of your assets under management. why move downmarket? why is the retail channel, which is a downmarket term, hold so much appeal? joan: a couple reasons. first is the need and demand on the part of the big firms. so most of the chief investment officers have an allocation they recommend of 10% to 20% import folios and if you go to most of the major firms, 97 out of 100 are invested in daily liquidity product. to date they haven't had access to quality returns across alts. and if you look at black sfone's -- blackstone's portfolio, real estate, hedge funds, credit, we can provide the spoke product in each of the areas and weave them together and create multiassets solutions. erik: retail investors or individuals perhaps, and we'll have access of the full range of blackstones products? joan: if you're a qualified purchaser, you're eligible for all. erik: already. joan: though our funds are oversubscribed and not sure they'll have a