nejra: that was paul singer and david rubenstein speaking with erik schatzker. hewin from standard chartered bank and wouter sturkenboom from northern trust asset management are still with us. you were sent one of your biggest contrary and calls is for lower interest -- contrary ian calls was for lowest interest rates. what that means is risk assets remain attractive. talk me through some of the tactical changes you have made to risk assets in your portfolio? wouter: we did interest rates will be suppressed -- we think interest rates will be suppressed. in place inweights infrastructure. we think that the trade tensions are serious and we need to take them into consideration. we are looking for categories that have a little bit of downside risk protection. is a great example of that but even infrastructure has a better downside risk profile than equities. within equities, we have decided to be underweight emerging market equities. like wouter sounds is still sort of progress, but conscious -- pro risk, but conscious of the risks of trade. sarah: i think economis

there well there is one of the big shareholders by management and founder paul singer and they're well known for being pretty active if not to call them aggressive and they have a success rate of about 78 percent was their companions and they actually and other shareholders as well and the biggest shareholder are american investors sol there could be the push to split up the company to actually get more money for shareholders so that might also be one reason for this reason to gain in the stock price. now what more legal troubles could be coming buyer's way here when it comes to round up well i mean there are more than $13000.00 laws you would say of pending from consumers the next trial is probably going to take place and clue is in the state of missouri in august we all saw god we're at the 1st lawsuit got filed in australia so more legal trouble certainly is on the horizon now they did hire new lawyer and that lawyer is very well known for settlements in the high class last year would still be right now estimates are that the buyer could settle those laws he would for about $6.00 to

paul singer had a gloomy outlook for where markets are headed but did not have timing in mind.nk about how low bonds and equities have done in the first half of the year, garfield -- how well bonds and equities have done in the first half of the year, garfield. how are we set up for the second half? >> to try and find out which of those 2 asset classes falls over, bonds or stocks. it seems very unlikely you could get a similar extended rally for both in the second half of the year, given just how high stocks have gone and how low bond yields have gone. that is your key question. matt: by the way, we're going to see pictures, i think, of bolsonaro with trump. incredibly interesting story, as his advanced team was found with 39 kilograms of cocaine headed for the g20. that was stopped in spain. i think he has put the blame on a member of the military there. these are two leaders that take very strong, authoritative positions. interesting to see them sitting here and talking to each other. what are the expectations for trump at the g20? initially, we were all focused on the meetin

thanking davidin rubenstein and paul singer.omaine: our thanks to bloomberg's erik schatzker on the stage with paul singer and david rubenstein. pretty wide-ranging interview there, they talked a lot about the potential for a recession, the potential for downturn. think aaid he does not lot of the academics out there have it right with regards to the potential of a market downturn, and rubenstein did not see the chance of a significant recession either. he said there could be black swans but nothing major. not call also, do banana. fascinating about china as well. switch: we are going to gears because with the uncertainty around trade --otiations, we can mary daly, separatist -- san francisco fed president spoke with michael mckee and -- in aspen. mary: i agree with the indication that we had six weeks of data that looked quite a bit different than may. we had softer readings on inflation. report and a lot of headwinds blowing our way. financial conditions, global growth, and considerable uncertainty around trade. so looking for

holsinger --onaire holsinger is bailing out book sailor -- paul singer is bailing out book seller barnesremember, this is feeling a little bit like a roller, because over here in the u k, the company acquired waterstone's and that chain's ceo, james dorn, will also be running barnes & noble. planet theyink the will run these two businesses side-by-side, and they will have a joint ceo, so it kind of feels like a roll up. i suspect a lot of back-office that will be done kind of jointly, so these two brands will work together. maybe there is a strength in putting the pieces together. vonnie: elliott has experienced cons cutting -- cost cutting and running a bookstore. in barnes & noble, having founded the company way back. he was involved with another company to try to buy and on that side. attractive bed. the elliott that was more attractive. elliott was a great reputation for cost cutting and getting all of the extra out of its businesses. but it seems to be doing a good job with the waterstone, and even though barnes & noble will be running separately, i am sure there will be some simila

paul singer's fund owns 5%. that is your business flash.breach the 2015 nuclear deal for the first time. they said they will exceed the cap in stockpiles of low-grade uranium. tensions have spiked. after the downing of the u.s. navy drone. joining us now is a reporter. iss is about provocation, it a symbolic thing to break the deal. everything the europeans do not want to hear. >> that with put them in a position. are behindying we this deal. we are going to stick to it. with iran basically coming out insane, we are going to break this deal, they may be forced to impose sanctions on iran. >> there are many threads to tie together, nothing least, the oil tanker attacks. this.e splitting over tell us about how these could evolve. >> this is one of those curious statements we are trying to make sense of. the uae went to the u.n. and said, we blame a state actor for the first wave of attacks in the tankers without naming state. yesterday, the foreign minister said we cannot blame one country for this because we do not have the evidence. uae try

billionaire investor paul singer is warning that the market euphoria might not be here to stay listenlobal financial system is very much towards the risky end of the spectrum in terms of debt global debt at an all-time high. derivatives at an all-time high. i'm expecting or i have been expecting, it's not today's epiphany, but the possibility of a significant market downturn. >> hedge fund manager paul singer at the aspen ideas festival joining us to discuss the market impact from the summit, alex dryden, global markets strategist alex, are you willing to take a binary bet on g20 and put a call on a sector or a stock index around the world given what is about to play out this weekend >> i think all eyes are on the g20 of the time 'nervous we will see some handshake agreement and the market will take that as a sign that the trade tensions are called off i think if you get some agreement between the u.s. and china, all that happens is the tension shifts on to u.s. and european trade negotiations. if there is a region that really doesn't need trade tensions and tariffs it's europe. >> yo

. >> the global economy could be headed towards a slump according to billionaire paul singer.ould be as there market correction of 30-40%. but he could not predict the timing. >> i think we are at the high end of the risk spectrum. , or have beening expecting, it is not today's of today's epiphany, the possibility of a slowdown. >> global news, 24 hours a day on air, on tictoc, and on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. francine? francine: thank you so much. breaking news out of the boj. this is some of the purchases they are doing with the japanese bonds. the boj cutting its jgb purchases for july but is raising purchases on the shorter durations. will it have an impact on the curve? we will get that in a second. i'm actually going to do a price check on jgb. i don't know if we have it up, otherwise, i will bring up my terminal in a couple of seconds. the world's most powerful leaders are gathering in japan for a key meeting -- 40 meetings that may -- for key meetings. things to watch out for are rising te

it is run by paul singer and last year, it bought waterstone.se is pressing ahead with president trump's demand to change a paint game. the administration wants to paint the plane red, white and blue. it has been in used since the early 1960's. the new jet will not be ready until 2024. what's interesting there is if he does win, even if it's 2024, that's if it's on schedule, most are not really on schedule. lisa: so he might never get to see his grand plan, red white and blue. the fact that he could take this long, but also the weight that he carries. some of these department in defense choice making. scarlet: he's been very hands on with airforce one programming. talking directly with the c.o. this is something that really gets his passion going. scarlet: well, must be he knows a private jet or two. maybe a good cost. >>: and he knows the optics of a private jet as well. we hear from the people's bank of china governor and in an exclusive interview, next. this is bloomberg. ♪ scarlet: the united states is ending turkey's participation by next m

alix: paul singer we spoke to yesterday at a conference. say about a potential market downturn. >> i think we are at the high-end of the risk spectrum, -- or haveecting been expecting, not today's a epiphany, aoday's significant market turndown. alix: somewhere from 30% to 40%. what kind of downside do you wind up hedging for? bit we have been a little more pitching for something like a 5% to 15% downside. we look at s&p put spreads, for example. gets really attractive payouts. obviously, if you are getting a 30% to 40% downturn, just outright owning a put option because things will become very correlated, is going to make you money. volatility is just going to shoot up. we've more been playing for the market of going to selloff, but it is not going to be the apocalypse. alix: how do you hedge treasuries? amy: in equity world, which i focus on, you can use tlt or any of the bond related etf's to give you the same exposure in a fairly liquid way. david: we are optimistic because there's going to be all this accommodation around the world. th

well beyond hollywood 2 months ago a belgian singer named released a song called by long stone chua or expose your what it's a play on words on by long stone paul the french incarnation of me to the song features women of all ages and varied backgrounds and their stories of sexual harassment and gender discrimination however one group is notable in its absence muslim women and that did not go unnoticed by 3 belgian you tubers the mowlam sisters who tweaked on jells lyrics to make this song their own highlighting the islamophobia and the harassment faced by women purely because of their religious dress not the kind of discrimination that often makes the headlines we'll leave you now with some of that video and we'll see you next time here at the listening post thank. you for. new booze some of wendy see you get sick again if you get yet. last night i. was. the. last one. al-jazeera world to meet some extraordinary women. who are making things happen that way. following their daily struggle to survive. for their family is to thrive. egypt's women street style as on al-jazeera. this is. very different where there. is a little. magic documents the

well beyond hollywood 2 months ago a belgian singer named released a song called by long stone chua or expose your what it's a play on words on by long stone paul the french incarnation of me to the song features women of all ages and varied backgrounds and their stories of sexual harassment and gender discrimination however one group is notable in its absence muslim women and that did not go unnoticed by 3 belgian you tubers the mowlam sisters who tweaked on jells lyrics to make this song their own highlighting the islamophobia and the harassment faced by women purely because of their religious dress not the kind of discrimination that often makes the headlines we'll leave you now with some of that video and we'll see you next time here at the listening post . isn't he some of wendy see you get sick again if you yet. to me. than i. am. just. as much. after decades of being programmed with instructions data hungry computers can only on their own identifying backrooms and predicting human behavior. artificial intelligence could monitor our movement. and decide on our future the big picture decodes of the world according to ai and exposes the bia

well beyond hollywood 2 months ago a belgian singer named released a song called by long stone chua or expose your what it's a play on words on balance tone paul the french incarnation of me to the song features women of all ages and varied backgrounds and their stories of sexual harassment and gender discrimination however one group is notable in its absence muslim women and that did not go unnoticed by 3 belgian you tubers the mowlam sisters who tweaked on jells lyrics to make this song their own highlighting the islamophobia and the harassment faced by women purely because of their religious dress not the kind of discrimination that often makes the headlines we'll leave you now with some of that video and we'll see you next time here at the listening post thank. you for. it's an suv wendy see you get sick again if you get yet. to me. than i. am. just. as much. let me take itto things like no place on the. wild west rain. until the strongest fastest and most skilled. nation to come together in stadiums that are probably going to. discover a new this destination they see the women's world cup france 29 t. . you stand the differences. and the

well beyond hollywood 2 months ago a belgian singer named released a song called by long stone chua or expose your what it's a play on words on balance tone paul the french incarnation of me to the song features women of all ages and varied backgrounds and their stories of sexual harassment and gender discrimination however one group is notable in its absence muslim women and that did not go unnoticed by 3 belgian you tubers the mowlam sisters who tweaked on gels lyrics to make this song their own highlighting the islamophobia and the harassment faced by women purely because of their religious dress not the kind of discrimination that often makes the headlines we'll leave you now with some of that video and we'll see you next time here at the listening post . some of wendy. sick again if you yet. than it. was. just. last month. an army of volunteers has come together to help with the influx of tens of thousands of evacuees. but their retreat to a church shelter has brought new challenges an outbreak of norovirus and other gastrointestinal problems. smoke from the massive wildfires now blankets much of northern california leading to some of the

paul, ringo, the beatles. >> good morning to you both. welcome. this is such a great premise. i imagine, i mean, casting the lead must be very difficult. you get a singer down quickly because it's not like horse riding. actors will promise you they can ride a horse. you can't test it. but he turned up, and it was extraordinary. you anyhknew he was the guy strt away. >> how? >> soul. he sang with soul. you can't manufacture it. you can ruin it if you're not careful, but you can't manufacture it. he had that special quality. >> that's you singing, himesh. we heard paul mccartney saying how hard it was to remember the words. were you a fan before this? >> not as big of a fan as now. going on this journey made me a huge fan of them, but i kind of knew what we all tend to know and had a couple albums. >> you sang those songs live in the film. >> everything you hear in the movie is me singing live and playing the guitar live. >> not only are you singing beatles songs but you're doing some of them in front of ed sheeran. what was that like? >> strange. the first time we met ed, danny made me sing long and winding road in front of ed with no instruments. i had

well beyond hollywood 2 months ago a belgian singer named released a song called by long stone chua or expose your what it's a play on words on balance tone paul the french incarnation of me to the song features women of all ages and varied backgrounds and their stories of sexual harassment and gender discrimination however one group is notable in its absence muslim women and that did not go unnoticed by 3 belgian you tube the mowlam sisters who tweaked on jells lyrics to make the song their own highlighting the islamophobia and the harassment faced by women purely because of their religious dress not the kind of discrimination that often makes the headlines we'll leave you now with some of that video and we'll see you next time here at the listening post . some of wendy. get sick again if you get yet. to me. than i. am. just. as much. capturing a moment in time. snapshots of other lives. other stories. providing a glimpse into someone else's well. inspiring documentaries from impassioned filmmakers and the front lines i feel like i know it i have the data to prove it. witness on al-jazeera. there's no one way of telling saw it keeping a stati