kkr added $1.4 billion from its own balance sheet.he biggest insurer in scotland, standard life, has agreed to a deal that would create the uk's largest active money manager. the company is buying aberdeen asset management. aberdeen has been hurt by three years of redemptions leading the ceo to free salaries and cut costs. that is your bloomberg business flash update. it is time for our bloomberg markets deal report. today, we are looking at the landscape for more media transactions and the bank lending under a new administration. jeff mccracken is standing by with kurt simon, jpmorgan's global chairman of mergers and acquisitions. i know last year you worked on the at&t and time warner deal. roughly $85 billion. i know that often times one deal will impact other companies and beget other deals. how will the at&t deal impact verizon, comcast, t-mobile, etc.? has been a huge driver of change. you look at new entrants like apple, google, facebook, netflix, amazon. new entrants. on the incumbent side, the most important thing will be sca

how are they different hitting themselves from kkr?e of the things that apollo talks about a lot, they blackessy things -- leon and josh harris came from drexel. they love these messy situations, they use that a lot. the understand the balance sheet and can invest in lots of ways. they can go in on the equity side and credit site. they've built up an aptitude for that. they write agreements with their investors so they can invest up and down the capital structure. maine: who were there clients? are we talking seven wealth funds around the world? -- sovereign wealth funds around the world? like blackstone and carlisle and kkr is not publicly traded. they do have retail and public shareholders that they are beholden to what to some extent. thisrms of who will invest $20 billion or more, it will come from sovereign wealth funds in the middle east and asia and pension plans like calpers and cal stirs in the u.s. that have been active and vigorous for the last 20 years. vonnie: in recent weeks, private equity personalities have been in the

kkr sold 15 million shares and not that long after jana sold 6 million dollar shares, another discountxt thing you know, you're looking at the stock of a high quality company that can't get out of its way. if you didn't know any better, you would have thought something had gone awry. walgreens had the wrong set of shareholders that needed to sell for reasons that had nothing to do with walgreens itself, which reported a stellar quarter. we seen this happen time and again during reception moments that are very hard to understand unless you've been in the business. remember how the market got abl obliterated. had to raise capital. the big give ups at the end of 2008, the most vile came after hedge funds with the same playbook went bust and who can forget when carl icahn exited his high-profile position in apple and made a point of telling you that it was the chinese business that bothered him. he crushed the stock with his exhibit but other than comments, there was nothing new to push apple lower. i know this phenomenon because i've been on the other end thanks to a vicious capital in th

kkr added $1.4 billion amidst bounce sheets and from employees.t is your latest business flash update. we will back -- we will be back at the commodities close in just a moment. this is bloomberg. ♪ scarlet: from bloomberg world headquarters in manhattan, i'm scarlet fu. is "bloomberg markets." copper is arkets, biggest surge since 2001. you can see huge amounts of to wearhouses.nt there is a spike-up right now, back to 2001, the most in 15 years. it comes despite the fact that of the world's biggest copper mines are out of action. day.ng for a third we're also keeping an eye on soybean futures because of and weather problems in brazil. and s have come back a bit have settled just barely higher. ith oil prices moving on news that iraq said opec will cut production into the second half of the year. output rally with u.s. and supplies increasing, of ling lower by a quarter 1%. julie: president and c.e.o. at alix il told bloomberg's steele about the company's u.s.ions in the >> opec compliance is important from compliant behavior pec and then the big

the private equity firm kkr and the canadian pension fund will jointly acquire usi insurance services for about $2 billion. that deal values the insurance brokerage at nearly $4.5 billion. the shares fell 1% to $18.60. >> our market monitor is a stock picker's stock picker. he thinks investors are moving out on and misunderstood by the margaret. up more than 8% this year, beating the market and his peer group. welcome back. >> you have some international choices here. do i infer from that that is because you like these companies? or because you think nonu.s. markets are better priced than the u.s. market? >> the fact is that the u.s. market has been hitting all time highs, day after day after day. but that's not the case outside the u.s. especially in europe. you can get global players at value prices by buying ones based in other markets. >> and you are a long term investor. you look for cheap companies. some of the soft picks you're giving us have decent decides. >> we're not traders. we are investors we. we take a long term perspective. we take a long term view. it takes time. >> s

kkr took from its own balance sheet and employees. u.s. industry is becoming a refiner to the world. last year, u.s. companies exported a record 3 million barrels a day of refined products. that is more than twice what they did a decade ago. finnegan refining industry is taking advantage of gas. securities and exchange commission enforcement department bracing for big budget cuts under the trump administration. it a ban on nonessential travel and hiring freeze. lawyers withhelp cases. that is your bloomberg business flash. still ahead, jeff peskind tells us where he is putting his money. are there opportunities distressed debt? have a look at what is happening to european equities. three days of declines. 1.4% for the stoxx 600, down by .6%. those industry groups that have led the rally since trump's election victory. boardout the currency today. sterling lower against the dollar. the pound down against the yen. this is bloomberg. ♪ . . live from bloomberg world headquarters in new york and london, i'm vonnie quinn. mark: and i mark barton

kkr and canadian pension fund manager cd p q have agreed to buy usi insurance.ht usi from goldman sachs in 2012. blackstone group is ending a thrill billion dollar hedge fund and will ship most assets into other credit funds that lock up client capital. investors thered option to move assets into other distressed credit. that don't feature withdrawals. that is your bloomberg business flash update. scarlet: coming up next, mark barton will join us. this is bloomberg. ♪ >> this is bloomberg market live from new york. we want to welcome our viewers and our listeners on bloomberg radio. oracle's push into software is paying off. the company secured his position as the fastest cloud company at scale. cory johnson is in palm springs, california where he is joined by mark hurd. ory: we are right next to palm that is why mark is here. the stock is at a 52-week high. why are we here at this event? >> this is a big tennis tournament. the tournament itself has been bought by larry ellison. us, he hassee around upgraded the facility to a fantastic place. we are a sponsor. w

kkr has $8 billion in equity capital management. and mark runs the fund and he joins us now.e been trying to get you on the program for a year. thank you for making it. >> thank you for your persistence. what has happened in the last six months? it is grabbing all the headlines. >> the secretary of , sea and the a ministration are focused on the right things, focused on bringing infrastructure to the forefront. i think we all agree american infrastructure is ready to be rebuilt. i just took the train in from boston yesterday, and it took me over three and a half hours to get here. from london too brussels it goes under being less channel but it is also roughly 200 miles and it takes under two hours. americans have invested in infrastructure, but some of our peers are investing 4%. it is time for infrastructure to be rebuilt. alix: you were investing in these projects before president trump was even a thought in our minds. did you change our investment strategy? how much are you dependent on that in the structure program? >> we are not dependent. it is an opportunity for furth

kkr and canadian pension fund manager see pdq have agreed to buy u.s. i insurance.n, canada's largest buyout corporation. ' ceo lloydhs blankfein has taken a pay cut. they reduced his composition -- compensation by 20% -- 27% to $22 million, eliminating a long-term pay incentive. that is your bloomberg business flash for this hour. includeal yield, guests mohamed el-erian and robert tipp, plus we are awaiting trump's meeting with angela merkel, the german chancellor. that is the big event taking place in the white house. this is bloomberg. ♪ dedicated30 minutes to fixed income, this is bloomberg real yield. ♪ coming up, the federal reserve delivers a dovish hike and treasuries rallied. how chair yellen can pull off a beautiful normalization. what could be a record -- cracks begin to appear once again. the uncertain world of politics collides with g-20.

how does it differentiate itself from kkr?rm born almost 12 five years ago, more than five years ago, out of the ashes of drexel burma lambert. they liked these messy deals where you can go in and fix the balance sheet or fix the company. intoey wde into -- wade places where nobody else does. they play the balance sheet in lots of different ways. so there's not just. so there's not just purely equity investors. they feel like, ok, these guys know how to make money, whether it is an up market, a down market. they like the messy stuff. they will get in there and get their hands dirty and that is how they return -- bring the return so far. if this exceeds $22 billion, which is blackstone's biggest gathering 2007, i want to talk about the size. any idea where that will be going? they want to have a wider swap of companies. they see the environment be more conducive to this. jason: ultimately, if you have that much money, you have to do some big game hunting. one of the things we haven't seen come back since 2007 are really big dea

kkr's north american team raised a $9 billion for its annual fund.g he sees the european car market slowing to single-digit gains this year after enjoying a double-digit rise last year. kisses harold kruger. he speaking at the geneva motor show, telling others that europe remains vitally important, and policy changes need to happen. >> the european market grew last year by a two digit number, which has been a fantastic achievement. we may be ca1 digit higher, one digit number this year. europe needs free trade as well. 44% of ourstill 43, sales worldwide it bmw. europe is still very important. euphoria to not last a snap on its third day of trading. she dashers falling below the advent. shares down 44% on the first day of trading last week. on friday the stock climbed 11%. by monday, five out ofshe dashee advent. the seven had a celebrating. two had it on hold. our next guest sees downside risks ahead. haveis after markets raised in close to perfect implementation of trump posco business policies pre-us is the chief market strategist. thank you for j

. ♪ francine: -- a consortium led by kkr has made a bid for india's largest wireless company -- wirelessy. to deal can we find that more than $12 billion. in a red will become the first major chain to list the amount of added sugar to its soda fountains. craftlans to offer beverages without artificial ingredients. the world's biggest oil refinery is considering dual lifting of its retail business. according to people familiar with the matter, shares with sell first in hong kong and then shanghai. they want to raise $10 billion in an ipo. coming up shortly is bloomberg daybreak: europe i'm excited with your interview with peter navarro. >> i'm excited to. issue is theig president will issue some executive orders around trade. if anyone is watching, president she will be here. pitt a once to do something about that heard i wonder how effective it will be. >> the idea that there is no comparative advantage and maybe all trade deficits are bad. we will get into that with him. , in the immediate term, how does he want to solve this. important an conversation. we've been talking about asset ma

private equity firm kkr has proposed a plan to help india clean up $180 billion in assets.t all debt of a certain amount to an agency created by the government and allowing private capital to revive them. india's bad loans are searching, the highest level of stress assets among major economies. clearance of an asset, a true sale of an asset, and the reason is -- there are many reasons -- but the real reason is the banks cannot afford to take the haircut. you have to get them the confidence to take the haircut, then they will take the haircut because they are sensible people. rishaad: uber is facing another aliance of rivals, dubai-based in china-based teaming up to share resources. they will coordinate fleets and payments. passengers need only use one app, even when abroad. goober is already facing another four-way alliance. 's "beauty and the taking $170 record million, a near high for a family movie rated g or pg. the previous best was "finding dori." "beauty and the beast" is also this year's top opening and the seventh best release of all time for any movie. rishaad: le

private equity firm kkr and canadian investors has agreed to buy usi insurance at $4.3 billion.a's largest buyout firm, it is run by -- it was bought by a firm of goldman sachs. tiffany has comparable store sales that are flat but they rose because of new openings. there forecast is it will be a high single-digit percentage. to morell set up research centers in china, the single largest oversee market for them and one in which the iphone lost ground to rival's locally. that is your bloomberg business flash. this is bloomberg. david? david: thanks. yesterday, washington was consumed as they poured over president trump's new budget outline. criticism came from both aisles. peter, and he did not really have very much up for this one. peter: this budget is pretty much a reflection of budgets we have seen over the last few years that do not go anywhere. they are usually blocked in the senate,revised in the and the bottom line is that we are probably looking at continuing resolution come october 1 and a budget that probably will be represented by another continuing resolution. i don't

is drawing bids from apollo global management and kkr, according to people with the knowledge of theas early as next month. the telecom company said in november it was exploring strategic options. the company has a market value of about $2 billion. amazon says human error at its sweepinginess led to outages on wednesday. it actually switched off more servers than intended, causing errors that cascaded throughout its service, which is used to house data and manage apps and software downloads by nearly 150,000 websites. that is your "bloomberg business flash" update. scarlet: mike mayo has been one of the most vocal critics on wall street. he lost his job when clsa shut down its equity research unit. in his first television interview since then, he sat down with "bloomberg markets" for an interview. : i am proud for having been the only analyst testified to the u.s. congress for sarbanes-oxley in 2002, and i have a whole testimony saying that if you play ball with corporate management and you get all sorts of perks and you are aggressive against corporate management, you get a stick an