raising $9.3 billion, 55% more than kkr raised for its asia fun. deals could be in japan. that is the latest bloomberg business flash. vonnie: it is time for our bloomberg quick take. news, the italian giants face off against real madrid, two of the world's best soccer clubs. in today's quick take, we take a closer look at world cup soccer. no sporting event is more popular than the world cup, but before nations compete, dave i to host the tournament -- they fight to host the tournament. scandals have docked tournaments and future events and russia and qatar. elected --sident wes was elected on a pledge to restore fifa. the auditing company resigned because it doubted fifa with serious about reform. payments to the ousted president probably broke swiss law. the scandal came to a head in 2015 when dozens of senior officials were arrested in the u.s. charge 41 people and companies with corruption. here is the background. it has afflicted the world cup since it began since 1930. fifa will only take bids from countries who have not staged the past two

western digital and kkr submitted final of this -- final bids.ong kong exchanges and clearing services can explain tuesday's sudden plunge in many small-cap shares, but david webb told bloomberg that it points to ongoing problems with regulatory .ystems, were aed that companies complex web of cross shareholding. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. haidi: if you are a central-bank washer, then you will probably paying close attention today. mario draghi, mark carney, fed chair janet yellen herself, and of focus was the stability their respective financial systems and the ability to adapt. ramy inocencio innocence you is our central-bank washer today. we do love central-bank speak, so why don't we get started with the fed. >> we have been taking apart the fact that janet yellen's comments on asset in valuations being richer than the average has brought impact to the markets, but aside from that, par 4 for the course as the captain of the fed ship, basically sta

western digital's ceo told toshiba's president the company plans to join a consortium that includes kkrnd a development bank of japan to compete with a rival off >>> amazon started hiring people to sell cars online in europe. a german straytrade magazine sah company will run the business out of luxembourg. >>> and shares of diebold could rise 25% to 40% over the next two years. the atmmaker should be able to raise margins and earnings thanks to cost synergies and the merger last year. >>> prime minister theresa may faces a showdown today as her political future hangs in the balance. all the fallout from that extraordinary vote last week and much more coming up on "worldwide exchange. these days families want to be connected 24/7. that's why at comcast, we're always working to make our services more reliable. with technology that can update itself. and advanced fiber network infrastructure. new, more reliable equipment for your home. and a new culture built around customer service. it all adds up to our most reliable network ever. one that keeps you connected to what matters most. >>> pu

company issued revenue guidance that fell short of estimates western digital said it teamed up with kkrbid for toshiba's chip unit. >>> ibm is building a blockchain base platform for seven banks including hsbc and deutsche bank the platform is aimed at simplifying transactions for small an medium sized companies. >>> nvidia unveiling a joint venture with volvo and auto liv. the partnership is part of an effort to develop systems for self-driving cars. >>> l'oreal and natura signing a contract for the body shop sale. the company announced talks to sell the body shop for $1.1 billion. >>> a bonus stock to watch, keep an eye on shares of alphabet the european competition commission will hold a news conference at 6:00 a.m. eastern time sources say she will announce a verdict on the big anti trust case against the company eu regulators are expected to impose a record fine on google over its shopping services >>> turning to the rest of the agenda on wall street, the consumer and the fed are front and center s&p/case-shiller home price index at 9:00 a.m., followed by the monthly consumer confi

kkr for its effort gets $22 million again for its efforts and simply being willing to invest that.at it gets is three board seats including the chairmanship of the company. unclear who will fill that role by those familiar with the situation. it will be either jim meyer or greg maffei, the ceo of liberty media. either one of the two gentlemen is expected to become the chairman of pandora. they have a lot to deal with. an underinvestment in the advertising business. too much spent on the subscription business and overall, some would say a poor capital allocation including some acquisitions one of which they're selling today, ticket fly for $200 million. that's not what they had paid originally for that the back and forth between sirius and pandora as i reported earlier, sirius had offered i am told only 8 bucks a share. but let's put that in some perspective. what i'm also told is that sirius had indicated a higher number and then after conducting due diligence had told pandora, you know what, we're not going to be able to get above 8. it simply indicated we can't get there and henc

have come up with their own government backed bid but even that is being led by an american company, kkr whoever gets control of toshiba's flash memory business, this is the end of the japan inc that we used to know. rupert wingfield—hayes in tokyo. in other news:, the us has raised concerns about china's access to artificial intelligence —based technology developed in america. according to reuters a leaked report shows proposals from the pentagon that export controls should be updated to stop chinese firms being able to invest in some start—ups. and the rules are changing in china for football clu bs and the rules are changing in china for football clubs to help the local development of the sport. clubs that spend more than $6 million on foreign players will have to pay the same amount into a national soccer development fund. the measure follows a spending spree from teams backed by major private firms and state—owned businesses. now, the e3 gaming event in la, that is where the latest things are being unveiled, including the latest company to an veiled their wares, japanese gaming gian

ndrst, western digital a kkr, it is about financial firepower.able to essentially come up with a lot of cash, but more critically, ofy don't have the backing the innovation network corporation of japan and the whosepment bank of japan involvement was going to be absolutely necessary to gain government approval on antitrust grounds, and so basically the preferred bidder is always going to come down to the ones that are linked up with the state act .unds you'd wit the japanese government has been so vocal and saying they don't want technology going to china or south korea. >> thank you so much for joining us on toshiba. we will get back to this toshiba story. dropping 69% to ¥34 after the daily limit was removed on the stock price. having filed for bankruptcy a day ago. akata is another company proxy adviser covers, but they made some news when they blasted the toshiba board for port governance and urging shareholders to vote against all the directors at the annual general meeting. joining us now is the glass lewis director of asian research. how m

having a look at some of the stocks we've been watching in kkr up 21.5%.he biggest jump we've seen in seven years. aap technology coming online for the first time in years. manus: thank you very much for the roundup there, juliette saly. anna is down in westminster ahead of the election. front and center as we go into these last 24 hours of polling. big: indeed, this is a theme here in the u.k. as you would expect. theresa may has-beens begin about what she would be prepared to do and wants to do in terms of legislation and changes to all us if she wins this election. she said she is willing to terra human rights legislation in the battle against terrorists. two is campaigning an event in the west of london. she said she would make it easy for authorities to arrest terror suspects. she speaks with quite laudable authority on the subject but with that also comes a level of responsibility. as you heard the labour party say, perhaps you bears the responsibility for any failure to make changes to policy in the past. that remains one of the key debates. the lat

we know pain is talking to -- bain is talking to kkr.ll that up to a fairly strong offering, about ¥100 billion short of what is offered by broadcom. bain is likely to face fewer legal consequences or challenges down the road, and we mean a challenge from western digital, toshiba's manufacturing partner, thehas threatened to derail whole deal, specifically if broadcom was to win. anchor: that's right. we have seen how hotly contested this has been. what sort of time schedule are we looking at then? from thelk backwards ultimate deadline, march 2018, the end of the fiscal year in which the company has to face the listing from the tokyo talk exchange. meet the deadline, they have to apply for regulatory approval pretty much yesterday, so they are aiming to deliver od newto shareholders on june 28 hopefully saying the deal has been done and the company is looking to beef up its coffers. bain is looking to finalize its scheme. we are plausibly looking at the final week of this very long ordeal. anchor: we seeing toshiba shares rallying up .8

that is 55% more than kkr's second asia fund which has generated 21%.lf of kkr's asia this year have been in japan. thank you. now time for the latest u.s. jobs report with expectations of 182,000 additions i may. the 10 year treasury yields ticked lower during the month while the global equities rally continues. 20,000kei topping for the first time since 2015. thank you for joining us. do we care about the jobs report like we used to? world's still the biggest economic number. francine: more than inflation? >> a lot of people are looking at labor markets to tell you which way inflation may go. really, given the difficulties behind counting gdp in the modern environment with the transfer pricing, it is easy to count people with jobs. it is a reliable indicator going forward. the most interesting part will not be headline numbers. i'm looking at the degree of long-term unemployed, wage growth, these things. plenty of information and intrigue in the details. francine: i like this. this is primary dealers for u.s. treasuries. the means that it shows world'

and private equity firm kkr has offered to purchase vocus for $1.6 billion.ock price collapsed. shares of vocus soared today and kkr is trained on underperforming assets on the cheap. that is your bloomberg business flash. francine: thank you, taylor. u.k. political leaders are readying their final election pitches ahead of the vote tomorrow. theresa may focused on securities, saying she would tear up even writes legislation. -- he would tear up human rights legislation. >> doing more to restrict the freedom and movement of terror suspects. when we have enough evidence to know they are a threat, but not enough to prosecute them in full in court. laws stop usrights from doing it, we will change the laws so we can do it. u.k.ine: that was the prime minister. let's go straight to anna edwards. anna, it seems a lot of investors are putting out research in the event of a hung parliament. tell us about the latest polls. anna: yes, indeed. the latest polling we got overnight. what is interesting is the legwork and field work for this poll was conducted after the ter

you see kkr investing off their balance sheet.ng them be quite creative in terms of how they are putting their money to work. thisast example would be question of strategic sponsors. pro, theyt bass bought cabelas with the help of goldman sachs. you see private equity say we are going to invest in the private market. >> what areas are totally closed, what is not available? >> the honest answer is almost nothing. there is generally a buyer. is there a buyer and a seller. there a buyer and the price they are willing to take? the place where you are seeing that is some industrial sectors because of how long the recovery is going to last. you're seeing a lot of private equity deals there. there certainly places and retail where buyers and sellers meet. >> great perspective. stephanie, i appreciate it. global head of financing and strategic mn day -- strategic mn day -- strategic m&a. i can't picture that. julia: think big alex. let's get a check on the headlines. mark. mitch mcconnell said today he expects to provide a draft of the se

there is blackstone, kkr, there's visa, there's more to the financials than the big banks. but if you want to talk specifically about the five big banks, bank of america, citi, jpmorgan in consolidation -- they are in a consolidation phase since the beginning of november. morgan stanley has the benefit of the wealth management division. that is why it is outperforming goldman sacks. goldman sachs is incredibly challenged by what's going on. that's stock specific. >> back in april our next guest called this space treacherous. let's bring back in dick bovey. good to have you today. >> thank you. >> hard to find too many people negative on the banks. i don't think you've changed your tune on this space. are they still treacherous? >> i think so. i think actually based on what i've just heard, they're even more treacherous than you think. first off, you have to realize that a bank is no different than any other company, it has a product. and that product is a loan. if it sells a lot of that product, the company makes a lot of money and the stock price goes up. if it can't sell

slipping storage company issued revenue guidance that fell short of investment they teamed up with kkrd for toshiba's chip unit. it's down 2.2% western digital this morning and nvidia is teaming up with volvo. >>> the dow's managed to snap a four session losing streak while the nasdaq's three-day winning streak came to an end. joining us the senior managing director and chief market strategist at cantor fitzgerald, and small and mid cap strategist at jefferies where are we in markets in terms of evaluations >> i think we're pretty rich across the board we look at the s&p obviously, 25 times, a little bit less on trailing twelve month earnings historically that's fairly rich. and if you look at it on other measures, whether it's price to sales or price to book, we equally rich between enterprise value lu to ebitda looks pretty elevated as well for lark and small cap >> you've seen a bit of a rotation we've seen sort of the drawdown a little bit in technology we've seen that money move to health care for instance, biotech specifically in health care, a little bit of move in financials, d

roberts, the are in kkr, started read f, and remains chairman of the board. weng in schools assess very carefully the talent that runs these organizations, to assess whether there is a good market niche for the entities. whether they are well run and whether there is an opportunity for growth and impact. i think he has really brought to this work a keen focus on outcomes and results, and that is, in turn, what we have really focused on, including not only the financial return in this case, but also the social return. there is a return to society when people go to work. that is both in reduced cost for public support, they become sense thatand in the they become productive members of the community, really contributing to the prosperity of the country. scarlet: how do you measure that, exactly? numbers ofat that how many people are employed, who is facing problems, and how long they stay in the workforce, what their wages are, and whether they are able to move on and up. one thing we do measure carefully is what we called the social return on investment, and wh

kkr has declined to join. a company has offered $19 billion for the unit. a u.s.er is said to have been down slightly more than that. tesla is said to be close to an agreement to make cars in china --ch would allow it to point avoid import taxes and price vehicles more competitively. it would lead to a production plant in a development zone. it could be announced this week. they would need a joint venture with a local partner. it is not clear who that will be. president trump promised a sweeping transformation of u.s. government use of technology. top industryomed executives to the white house. even leaders that have openly clashed with mr. trump. they will ensure that the sector finds the people it needs. >> all the technology that we have today started in the government and research institutions. as well as the enlightens immigration policy. i am a beneficiary of that. i hope that we continue to be able to make sure that the american competitiveness is what helps us that policy forward. ramy: the imf says japan's proving economy gives the chance for bold structu

kkr raising more than $9 billion for it's most asia fund. and sets a new record for the region. goldman sachs under fire for buying bonds in venezuela. now the wall street journal reporting that goldman's trade was not reviewed by top executives. and new york's attorney general claiming that exxon mobil misled about how it accounts for the impact of climate change on the operations by using internal estimates that were different from it's public estimates and statements. and speaking of climate change, big business, not happy with president trump's decision to pull out of the global climate agreement. taking a live look at the white house briefing room, shortly, sean spicer and the head of the epa, scott pruitt are going to speak to the media, we are going to carry that live when it happens. in the meantime, elon moonny is live in washington with the latest on the fallout. >> the backlash against president trump's decision to withdraw from the paris climate accord continues to grow. goldman sachs ceo tweeted for the first time ever to say that the move is a setback for the envir

kkr will terminate its investment agreement with pandora. 1.6% right now. >> let's get back to the markets. joining us now chief fixed income strategist at janney, montgomery scott looking over here so i get this right, cinch and covering currencies, bob cinch. you know, i'm such a global type guy and i'm so parisian i was going to say cinch but i asked the producer and it's cinch i'm just going to leave it at that. global strategist at amherst pierpont securities. guy, like a lot of people who keep telling me that inflation is not going to be a problem you think it's a temporary respite and we shouldn't get too complacent about things so the fed is on the right track? >>> generally speaking, yeah. the truth is in the last seven or eight years all of the statistical models, all of the economic models have done a horrific job of predicting inflation. so, most likely, the best way to statement where it's going to hit over one or two or three-year time frame is take a straight line from where we are today, which is called about 1.5-ish percent