in any event, here's what we are getting from larry fink. larry fink is a ceo of blackrock.s he important? blackrock is the biggest money manager in the world. it dwarfs all these wall street firms. it has something like $8 trillion under management. i mean, this thing is big, it's as big in a different way as jpmorgan chase is big in terms of a bank. larry fink runs the biggest investor in the world, maybe the world will ever see. it's blackrock. the other reason why he's important is he's a prominent wall street democrat. his name is always in the news as possibly being treasury secretary. he's said recently he doesn't want to do this right off the bat, it's unclear if biden wants him, president biden who is likely to be president despite the contested, some of the contested results. but here's what larry is saying when it comes to the election, which is now -- which looks like to be divided government if the gop as most indications show holds on to the senate. what he's saying is that this is very positive and he made these comments on wednesday to blackrock employees. th

larry, thank you. finkarry speaking to david rubenstein at the bloomberg new economy forum. singapore's biggest banks have remained resilient during the pandemic, beating estimates. joining us now is the ceo of southeast asia's biggest bank, dbs group's piyush gupta. great to have you on. thank you very much for your time. we continue to see this resurgence of virus cases around the world. how long do you expect to remain resilient? last time, you said business momentum has improved. you saw a pickup in credit card spending. but for how long? piyush: well, you have got to aalize that there is frankly bifurcated situation with the virus as we speak because most of the countries in east asia are actually doing ok. you are not seeing a massive resurgence of the virus in most north asian countries. however, we have a footprint. and as a consequence, you are beginning to see activity pickup , and it started picking up in the third quarter. it has continued to stay strong so people are out spending. you cannot ge

blackrock ceo larry fink talked about the stimulus and what election results will mean for markets. y: i would say overall the market likes a divided government. they want to make sure there are proper checks and balances. we have seen in the past with a government totally controlled by extremes, you see more in terms of positions they have made. divided government, but i do also strongly believe the market is not -- is in desire of more stability, of less volatility. they are looking for a voice that moderates, not a voice that insights. -- incites. bideny believe president can be the voice of reason. if we all listened to his speech last saturday when he talked about one america, not a red or blue. by marketplace is encouraged having a leader now that is more inclusive, a leader that can bring more global harmony. i think we are all tired. we are tired of the volume we hear out of all -- out of washington. we are tired of hearing about covid. we are worried where we are going right now in these coming weeks. we are looking for a new leader to help us navigate covid and moving forwa

juliette: that was larry fink speaking at the new economy form. a check of the first word news. china says it is confident about the state of the economy despite surging virus numbers and a looming global recession. the mainland economy will likely grow this year, despite great difficulties, and will probably surpass $15 trillion. he has told the people's daily china has shifted from a state of rapid growth to one of high quality develop. australia added tens of thousands of jobs in october, as victoria's strict lockdown rick did -- lifted and recovery gather pace. employment soared by 178,000, way above the expected decline of 27,000. the jobless rate edged up slightly to 7% as the participation rate also group. employment in victoria alone was up 2.5%. tengion is rising among oil producers with the uae privately floating the idea of leaving opec-plus. officials have not given any public details over its plans but tension has been rising between abu dhabi and saudi arabia for weeks after the uae raised production levels above its opec-plus quota.

blackrock ceo larry fink at the new economy forum about priorities for president-elect joe biden, ther fiscal stimulus is on his mind. let's look at what we are watching out for today. european union leaders are due to hold an online summit to discuss the latest efforts to contain the coronavirus. governorntral bank faces his first test with the country on the verge of a currency crisis. are also on the subject of central banks, watching for a decision from the south african central bank, it cut its benchmark by 300 basis points this year. then we get u.s. initial jobless claims. economists estimate that number will come in at 700,000. lots to look ahead to, and also the central banking story. cutting 11,000 jobs, twice as many as last year. the german conglomerate is forecasting a one billion euro loss for the fiscal year, and it's beleaguered steel unit hemorrhages cash. latest, 11,000, why the need to cut more jobs? effects.re hit by two it is a structural problem that is long-lasting. also obviously corona has hit really hard. they see their money flowing out, and basically are lo

that was the black rock chairman and ceo larry fink speaking at the bloomberg new economy forum.s me as it is november 19 and we are still talking about the school stimulus deal potentially in the united states. though stimulus checks going out to americans dried up this summer, and you have positive vaccine news. i wonder if that puts pressure on republicans to not have the impetus to get a deal done. a raft ofhink there's changes coming through in the last 48 hours. is the appetite there on the republican side to do anything? credit suisse this morning said equity markets can travel higher because we need to look through what is happening at the moment. rallying by market 12% going into 2020. they say we've got to deemphasize the near-term risk. interesting, we have this push and pull from so many of the calls. some saying sell or by the vaccine. the markets can price and future good news, they can also be derailed by bad news. 250,000 deaths, new york city, the biggest public school system in the united states closing. thanksgiving is next week. similar across europe and the r

the blackrock chair, chief executive larry fink talked about stimulus and what the means what it willr the market. >> i would say overall the market likes a divided government. they want to make sure there are proper checks and balances. we have seen in the past when we have a government that is totally controlled by one party, we have seen more extreme in terms of positions that they have made. and so i think that divided government, but i do believe inongly that the market is desire of more stability, of less volatility. they are looking for a voice that moderates, not a voice that incites. i truly believe president-elect biden can be that voice of reason. all listenedf we to his speech last saturday when he is talking about one america, not a red or blue. encouraged bye is having a leader now that is more inclusive, a leader that could probably bring a little more global harmony. i think we are all tired. we are tired of the volume we hear out of washington. we are obviously very tired about covid. and we are worried about where we are going right now in these coming weeks. for a n

butterfly networks, the makers of an ultrasound device is going publix to compete with larry fink's spac. founder larryal robbins joins us now. you must be thrilled about the launch on friday, reception of butterfly, though it is a fantastic device. explain what it does. >> it is the first and only to put ultrasound on base -- on a semiconductor chip. it follows the innovation of the doctor who did the same thing with next generation dna .equencing a decade ago the idea is simple. instead of us taking our patients to the imaging center, it takes the imaging center to the bedside of the patient. is onlyw, ultrasound performed by a limited number of professionals that are trained to use large machines. clinicale it is better medicine and also at a lower cost that this device can be brought into the pocket of every position, and the hand of every nurse that needs it. not only is it lower cost, about can seellars a day, it much more patience, so patients don't have to wait a week to get an image. super excited about the medical benefits. forie: the ramifications this device globally are mind

nira tandeu, cecilia ralph and wally, chief of staff of larry fink at the blackrock group.y join janet yellen as secretary of treasury, of course as we get confirmation of the senate. jen as secretary and karen as communication's director. many are familiar because they are all part of the obama administration. joe biden has fractured his foot after playing with his dog over holiday weekend. he was seen leaving x-ray appointment and will likely require a walking boot for several weeks after the fall. well, confirmed u.s. cases of the coronavirus hitting grim record passing four million in saturday. 90,000 people people hospitalized. people are asked to stay home as much as possible and to wear a face mask all of the time. gatherings with those not living in your household are banned. tackling the election issues and the fraud that president trump talked about, the president's attorney headed to arizona to meet with state legislators, state representative mark finchim saying that to hear testimony, a similar event was held in gettysburg, pennsylvania last week. joining me to

here's black rock's larry fink who said it could put pressure on buyout industry. >> in many cases i could replace many private equity platforms because they could be another avenue for organizations or subsidiaries of organizations to be spun out so if spacs continue to grow in importance, i do believe it is going to be pressure on some private equity because you're going to see more money moving into these types of organizations. >> the concern of some is the excess of new capital from spacs will chase the same supply of deals driving up valuations. that's not always true not every target would benefit by a reverse merger. just like not every capital structure would benefit from some sort of debt from a leveraged buyout sources that advise on these deals told me competition is fierce and that's causing hasty due diligence and willingness to pay higher valuations. rather than sit on the sideline, traditional private equity is getting into the spac game in a big way. apollo global, tpg raised spacs of their own this year >> apollo did one last night >> upsized upsized spac last night

all the market indications foreshadowing reporting we did on larry fink, the head of blackrock, largestvaccine some point soon, that is good for markets and investing. divided government is good as well. that is what markets tell us. neil, this is what is going on the corner of wall and broad. they are looking at the two seats in georgia believe it or not. they have give an edge to republicans and a market positive thumbs up. back to you. neil: all right. i know you mentioned sonny perdue. it is david perdue. you raise a good point. all it takes for one victory for republicans to lock on to the control, right? losing both all bets are off. we could have a biden administration but they're betting on at least one victory here? >> yes. the theory is though, neil, just so you know, it might go together. if one wins the other wins. it is the way people are starting to vote now to put a check on joe biden. neil: right. that's right. we forget that loeffler had quite a challenge right now within the republican. that vote presumably would go to her. we'll see. it is a little too early. january

stuart: we listen to larry fink because he has a lot of money and runs an important company.s the largest money manager. that's right. speaker pelosi, confidently expected to win more house seats, did not happen and now she's facing intense opposition for moderates who think she went much too far left, this is abigail, newly elected republican, watch this. >> we watched what we shouldn't have watched the number one concern the people brought to me was defunding the police and if we are classifying as the success, we need to look at the [bleep] torn apart in 2022. stuart: we apologize, she is a democrat, i apologize for that, back to the speaker she led and consistently insulted the president and tour of the state of the union speech, she is paying a price for that. her leadership position is now threatened. that is my take, and about 30 minutes we will hear from nancy pelosi for the first time since the election and you will hear what she has to say. we also have an all-star lineup, larry kudlow is going to join us again, candace owens, steve hilton all coming up on this prog

. >> who is larry fink? >> the ceo of blackrock. hire him to buy blackrock etf's? hashe gentlelady's time expired. the question has been submitted for the record. >> may i cement these documents for the record. >> it will be placed in the record without objection. >> thank you chairwoman waters and thank you to our witnesses for being here today. like many of my colleagues, also i want to say thank you to the great work done in the pandemic. your work to accommodate regulatory and supervisory policies were very important and moving forward i urge you to be flexible to ensure a strong economic recovery. of the automated teller machines in the united states are independent, non-bank terminals. it is those atm's typically found in low income communities and thinly populated rural areas in which there are few if any bank offices or bank owned a tms. the widespread closures and denials of anchor counts to his this is within the independent non-bank atm industry present a serious threat to the financial stability not only of consumers who live in the area served almost e