stephen schwartzman is our special guest this weekend. it takes." it details his career from i growing up in a philadelphia suburb to building blackstone into the world's largest private equity firm. he also identifies where the bubbles are in the market today. >> pete and i did a lot of business together, and what we were trying to do was, you know, start the best parts of lehman brothers in a way without people. and i've always liked doing big things with few people. and, you know, that's a very profitable kind of model. i had no idea that, you know, the firm would grow to this scale. i always wanted it to be really successful, but, you know, part of life is you go where the river's taking you, you know? it's hard to swim upstream x this is a powerful river. and we had a excellent strategy to start an advisory -- this was 1985 strategy, we never changed it, ironically. maria: interesting. >> start advisory, we did that until a few years ago. we pun that off, it's now called pjt. then the second piece was go into the buyout business whic

but after three lengthy sets featuring 10 breaks of serve, schwartzman stormed into a 4—0 lead in the—of—sorts zverev, who served 17 double faults and made 65 unforced errors. schwartzmann closing out the set and the match 3—6, 6-2, 6-4, 6-3. and that victory sets up a potential meeting with three—time champion rafael nadal. he's on court right now against 2014 us open winner marin cilic. ina dull in a dull one the first set but the croat has roared back to take the second set by the same scoreline —— natal won. the us anti—doping agency has withdrawn its case against the fastest man in the world this year, sprinter christian coleman. the 23—year—old had been charged with missing three drugs tests and was facing an automatic one—year ban. here is our athletics reporter ed harry with more. its withdrawn after guidance from the world anti—doping agency. coleman is not considered to have had three whereabouts failures in 12 months and is therefore not considered to have committed an anti—doping rule violation. anis sardar officer attempted to test the sprinter in 2018 and discovered he f

thank you so much, zach schwartzman on alibaba.es it for this edition of bloomberg technology. we are livestreaming on twitter. check us out. this is bloomberg. ♪ paul: welcome to daybreak australia. i'm paul allen. kathleen: i'm kathleen hays. sophie: i'm sophie kamaruddin. we are counting down to asia's major market open. ♪ here are the top stories we are covering the next hour. world leaders gather for the u.n. general assembly. the call of climate change top of the agenda. teenage activist greta thunberg says it is too late. she says

of the remaining quarter—final which features three time winner rafael nadal and argentine diego schwartzmani would like to say congratulations to monfils. i think when i was playing i was thinking one of the best matches i ever saw. i was playing but i was watching as well. i'm really happy, i don't know what to say. thank you guys. grazie agli italiani. i gave my heart and the crowd was amazing. it was fun and exactly what i play for, you know? iwish amazing. it was fun and exactly what i play for, you know? i wish i could win but i love those matches. i am proud of myself and happy and ready to cheer for my girlfriend tomorrow and definitely if we can get one more day here i will. incidentally, his girlfriend is elina svitolina. australia recovered from a shaky start to finish a rain shortened opening day of the fourth ashes test against england on 170 for 3 in manchester. steve smith who missed the third test with concussion notched up a record—extending eighth successive ashes half—century to end the day unbeaten on 60 — and our sports correspondent andy swiss was at old trafford. it ha

schwartzman was walking tall. reaching the u.s. open quarters. he was and did. met all is two wins away from his 19th grand slam. >>> the late show with stephen colbert is up next. ♪ well well well, what have we he? a magical place...that's lookin' to get scared! with bats...and ghouls...and rs in sguise. i've cast quite a spell now... you won't believe your eyes! the spell is cast. halloween time is back with spook-tacular experiences in disneyland and disney california adventure parks!... for the dr. denese essential radiance collection. (female announcer) designed for women over 40 with maturing skin, targeting fine lines and wrinkles, uneven skin tone, and lack of firmness. (male announcer) sponsored by scientific skincare. (female announcer) how do you dramatically change the appearance of your skin, if you're in your 40s, 50s, 60s? you use a skincare system designed by a woman, with other women, specifically for women with maturing skin. (male announcer) introducing the essential radiance collection, the last scientificor women with maturing skin. breakthr

schwartzman was walking tall. reaching the u.s. open quarters. he was and did.is 19th grand slam. from the couldn't be prouders to the wait did we just win-ners. everyone uses their phone differently. that's why xfinity mobile let's you design your own data. now you can share it between lines. mix with unlimited, and switch it up at anytime so you only pay for what you need. it's a different kind of wireless network designed to save you money. save up to $400 a year on your wireless bill. plus get $250 back when you buy a new samsung note. click, call or visit a store today. has been excellent. they really appreciate the military family and it really shows. with all that usaa offers why go with anybody else? we know their rates are good, we know that they're always going to take care of us. it was an instant savings and i should have changed a long time ago. it was funny because when we would call another insurance company, hey would say "oh we can't beat usaa" we're the webber family. we're the tenney's we're the hayles, and we're usaa members for life. ♪ get y

rafa nadal of new york just one set dropped all week the 2nd seed was up against argentina's diego schwartzman the shortest man on top at 5 foot 7 but also one of the fastest i was so it's been fought very hard but on the points that mattered most it was the dole who came up with the goods. i was the spaniard edge the 1st 2 sets and run away with it in the 3rd roughing up victory in 2 hours 46 minutes i i was the dow's clearly fired up if he does go on to claim his 4th u.s. open field move to 19 grand slams i roll just one short a federal he says he's feeling good. of course not a little bit long day 130. minute though and the lot is late but i really believe that i i don't i mean whichever if it does feeling fresh his semifinal opponent is likely to be a bit tired. i was peace and matteo parity an epic 5 set match. both men would pick points in the deciding tie break but in the end it was better to be a tally of the birds victorious was although he could barely stand all talk afterwards. i was right no i don't remember any points just the match point you know. i the big story in the women's d

nadal the day you'll just one set drop goal week the 2nd seat was up against argentina's diego schwartzman the shortest man on top at 5 foot 7 but also one of the fastest i was so it's been fought very hard but on the coach that mattered most it was the dole who came up with the goods even i was the spaniard edge the 1st 2 sets and run away with it in the 3rd roughing up victory in 2 hours 46 minutes i was that i was clearly thought up if he does go on to his 4th u.s. open field move to 19 grand slams i roll just one short a federal he says he's feeling good. of course not a little bit long day 130. minute though and the lot is late but i really believe that i i don't i mean which happens if it does feeling fresh his semifinal opponent is likely to be a bit tired. was peace and matteo parity an epic 5 set match. both men would pick points in the deciding tie break but in the end it was better to be the italian be budged victorious thank you although he could barely stand all talk afterwards. i was right no i don't remember any points just the match point you know. i the big story in the wo

rafa nadal of new york just one set dropped all week the 2nd seed was up against argentina's diego schwartzman the shortest man on top at 5 foot 7 but also one of the fastest i was with so it's been very hard but on the coach that mattered most it was the doll who came up with the goods. i was the spaniard edge the 1st 2 sets and run away with it in the 3rd roughing up victory in 2 hours 46 minutes i i the dow's clearly fired up if he does go on to claim his 4th u.s. open field move to 19 grand slams i roll just one short a federal he says he's feeling good. of course now a little bit tired long day 1300 middle and the lot is late but i really believe that i i don't i mean which happens if it does feeling fresh his semifinal opponent is likely to be a bit tired. i was peace and matteo parity and epic 5 set match. both men would pick points in the deciding tie break but in the end it was better to be a tally of the birds victorious was although he could barely stand all talk afterwards. was. i. right no i don't remember any points just the match point you know. i the big story in the women's dr

rafael nadal continues his bid for a fourth us open title later when he faces argentina's diego schwartzmaneaten in all seven match—ups to date. steve smith returns to the australian side for the fourth ashes test against england, set to get under way in manchester later on wednesday. the world's number one ranked batsman missed the third test defeat at headingley due to a concussion suffered in the previous match and comes back in for usman khawaja. among the bowlers, james pattinson is rested with mitchell starc named in the squad having sat out the first three games. i think he's everyone in the world, looking forward to watching steve smith back, we always do. again, i think steve has missed one test match. he hasn't been out for 12 months. he came back from a 12 month layoff pretty well so aspect to hand him six days without batting pretty well. slovenia's primoz roglic holds the red leadersjersey heading into wednesday's hilly 180km 11th stage of the vuelta a espana. thejumbo visma rider is now almost two minutes clear of world champion alejandro valverde after claiming victory in the

getting swept away in the cauldron was diego schwartzman, one of the shortest players on tour at fiveuenos aires diet. rafael nadal has made the semifinals of all four grand slams this year. his opponent said it felt like he had played against a lion. this was a quarterfinal but felt like a final. it is one of the keys of success. final. it is one of the keys of success. i have been a good fighter on court with a good character, positive character and i am not the only one. there are a lot of ones that fight good. this tournament now seems set up for the spaniard, the three players left with him haven't got this far. rafael nadal‘s next opponent had to come through an epic. mathio was taken to five sets and nearly four hours of tennis. it would have felt like the summit. waiting next on the mountain is the three—time champion. in the women's game right now, the teenagers are making the noise. bianca is 19 and from toronto and driving through the rounds. this year she has climbed up the rankings. this is herfirst time in the main draw. now she is into the semifinals. she asked after th

joining me on the phone from that meeting is rbc analyst zach schwartzman.or joining me bright and early over there in china. let me start with the basics. it is all about e-commerce. makes up 86% revenue for alibaba. what do you need to hear from the company about their e-commerce? zach, let me know you can hear me on alibaba. we do know have their investor meeting that is coming up. it was really interesting, 70% is expected to come from those lower tier cities. what do you need to see in terms of growth? with these strategic investments alibaba has made. some of those investors are the logistics platform, others in local consumer services. update -- we think this is going to allow them to gain more market share, 1.3 trillion dollar opportunity. upi love that you brought delivery. what do you need to hear from the company about food delivery? what is interesting and what is that it is one of the largest payment platforms. they have the off-line transaction data so they can have great targeting for new people ordering and consumers ordering food and can pro

coming up in just a few moments, blackstone founder chairman and ceo steven schwartzman is our special interview with vice president mike pence and asked him about the economy and the federal reserve's decision wednesday to lower interest rates by a quarter point. watch. >> the american economy's booming everywhere you look. jobs are up, confidence is up. more than

schwartzman sounds off. the latest private equity to weigh in on the income inequality debate. lu

coming up in just a few moments, blackstone founder chairman and ceo steven schwartzman is our special. but first, i sat down for a first on fox interview with vice president mike pence and asked him about the economy and the federal reserve's decision wednesday to lower interest rates by a quarter point. watch. >> the american economy's booming everywhere you look. jobs are up, confidence is up. more than six milli

plus blackstone ceo steve schwartzman will join us on set.trends, the fed d his new book "squawk box" will be right back. >>> let's welcome brian grazer and he wrote "face to face". >> glad to see you. >> he heard the $4 billion number he was like, what? >> closer to 40. >> 4.2. >> 40? >> in the stats it says 13.5 billion. that was a 1980s number. >> where did we get 4.2. >> he's thinking back end. >> this is a business show i know the numbers. >> and there's proof of it right there. >> well, some. >> let's talk about your new book. >> okay. >> we read through it and have been debating whether we could follow some of the rules that you lay out in it. it's all about face-to-face communication, relationships you build with people, not transaction naryurytransaction naryury. tell us why this came about and how. >> well, what it means is first of all, for 35 years every two weeks i go out and i meet somebody new i reach out into the world and pull somebody into my life or we meet and these people are experts in anything other than show business.

coming up in just a few moments, blackstone founder chairman and ceo steven schwartzman is our specialsident mike pence and asked him about the economy and the federal reserve's decision wednesday to lower interest rates by a quarter point. watch. >> the american economy's booming everywhere you look. jobs are up, confidence is up. more than s

nadal the day you'll just one set drop to a week the 2nd seat was up against argentina's diego schwartzman the shortest man on top at 5 foot 7 but also one of the fastest i was so it's been very hard but on the coach that mattered most it was the dole who came up with the goods even i was the spaniard edge the 1st 2 sets and run away with it in the 3rd roughing up victory in 2 hours 46 minutes. i was that i was clearly thought up if he does go on to his 4th u.s. open he'll move to 19 grand slams i roll just one short a federal he says he's feeling good. of course not a little bit long day 130. minute though and the lot is late but i really believe that i i don't i mean whichever if it does feeling fresh his semifinal opponent is likely to be a bit tired. was peace and matteo parity an epic 5 set match. both men would pick points in the deciding tie break but in the end it was better to be the italian the budget victorious was although he could barely stand all talk afterwards. i was right no i don't remember any points just the match point you know. i the big story in the women's draw is c

grigor dimitrov daniel medvedev takes on 2016 champion standard rancor and no doubt will play diego schwartzman. and one who tweak did their winning line up ahead of wednesday's 4th ashes test against australia captain joe root will have fast bowler craig over 10 back in his team as a replacement for chris well england recorded an unlikely one week of victory in the last test thanks to an unbeaten century from ben stokes what it has done is make it a very special week this week and grab 2 need for us to build on what was a fantastic win. and carry that forward it was very special last hour so the way we performed in a 2nd innings was more what. we were about as a team steve smith is back in the australian team after missing the 3rd task due to a concussion injury a former captain has also regained his position at the top of the world's batting rankings he's everyone in the world is looking forward to watching steve smith but we always do. and again i think you know steve's missed one test match he has been out for 12 months came back from a 12 month layoff pretty well so i expect he'll handle 6

takes on 2016 champion status last lovering and rafael nadal after that big win will play diego schwartzman. later on tuesday fans will get their 1st sight of the official and them for the qatar 2022 world cup the image it will be beamed onto iconic buildings around the world at 2022 door hard time to the stadiums that will be used during the tournament are already open with 6 more heading towards completion in december qatar will host the club world cup the 1st major test event ahead of the big kickoff in 3 years time. neymar hopes of sealing a move out of the french league this year are over while however means hill have the chance to play alongside m.p.'s g.'s a new super star striker carr the has arrived in paris the french champions have agreed to sign the argentinian forward on a season long loan from milan while the deal includes an option to make his transfer permanent in next season the 26 year old has scored 124 goals and $219.00 appearances for the italian club. what syria club roma have ended the busy transfer window by signing arsenal a midfielder. with tyrion on a season long

he beat diego schwartzman in straight sets.al to win his 19th grand slam title, leaving him just one short of federer‘s record. he plays the italian matteo berrettini in the last four. also opened up in the womens's draw, here's bianca andreescu the canadian teenager at the bottom of your screen, booking her place in the last four. she beat elise mertens. she's only 19, but has won two titles this year, she's up to 15th in the world rankings and into herfirst grand slam semi final. jamie murray meanwhile had a busy day at flushing meadows. first he qualified for the semi—finals of the men's doubles with british partner neil skupski, then he went one better in the mixed doubles, reching the final alongside the american bethany mattick sands. england have got a couple of qualfiers for next year's they a new name in the squad is aston villa's tyrone mings, and he's come a long way. he lived in a homeless shelter as a child, and worked as a mortgage broker before breaking through as a footballer. i cannot say the while i sat on my

september 19th some of the world's influential money managers will be there speakers include steve schwartzmance president mike pence and many, many more. go to delivering alpha.com to register >> ten minute left of trade and we could see a record close on the s&p. not looking likely at the moment where some 15 points or so away but nonetheless a strong week and decent performance today volatile morning up next we'll have your last chance trade >> later, can walmart afford to undercut amazon prime's pricing? we'll ask former walmart u.s. ceo bill simon about the company's new subscription service. that's coming up every new job. and attempt to parallel park. (electrical current buzzing) each new draft of every novel. (typing clicks) the finishing touch on every masterpiece. (newborn cries) it is humanity's official two-word war cry. words that move us all forward. the same two words that capital group believes have the power to improve lives. and that, for over 85 years, have inspired us to help people achieve their financial goals. talk to your advisor or consultant for investment risks and i

. >> we were talking to steve schwartzman. also a member of the business roundtable who b the way did not sign but his view of this was, look, the way it was structured is there's five constituents, one of which is profits. he said i can't manage to five fathers. i need to have one thing to focus on if i do the one thing, his view is i'll capture the rest. >> that turns out to be morgan freeman. i think scott, the lawyer from paul wise who told me they have said no, we're no longer going to just do shareholders. >> they haven't, but delaware of course is typically the law that you follow most closely given that's where most corporations are incorporated referring to stations like pennsylvania you and i have followed the likes of hershey which has relied on pennsylvania law to say no way, we're not selling the company. >> a piece of news that just broke in the past half hour, doug mcmillan, the name to run the head of the business round table is going to be very interesting. >> did walmart sign? >> walmart did sign. walmart was

schwartzman throughout the day. tom: so much winning. let's look at the winning.at benchmarks of national spirit in the united states. they are enjoying a 12% pullback right now. none of that is a surprise. mann on our greater international economics. henrietta, let me start with you. does anyone on capitol hill care that fedex is down 12%? henrietta: they don't. there's not too much up in arms or concerned about the trade war generally. tom: what did you hear? is a lot ofhere comfort with the trade war. democrats are trying to figure out their message on trade. they are opposed to the president's strategy, but not the end goal. there is no clarity if the in result is decoupling. the tariffs are here to stay. there's no real effort to take the tariffs off. this is going to be our life -- the average number that was thrown out was six years. douglasill go back to erwin's classic book against the of american history trade. followed up with your wonderful effort, is the trade deficit sustainable? henrietta would say that both republicans and democrats don't care abou

he beat diego schwartzman in straight sets.out, so it looks like its opening up for nadal to win his 19th grand slam title leaving him just one short of federer‘s record. he plays the italian matteo berrettini in the last four. also opened up in the womens‘s draw, here's bianca andreescu the canadian teenager at the bottom of your screen sealing her place in the last four, she beat elise mertens. she's only 19, but has won two titles this year, she's up to 15th in the world rankings and into herfirst grand slam semi final. jamie murray meanwhile had a busy day at flushing meadows. first he qualified for the semi—finals of the men's doubles with british partner neil skupski, then he went one better in the mixed doubles, reaching the final alongside the american bethany mattick sands. there have been some unusual routes to the top of football, tyrone mings can attest to that. the aston villa defender lived in a homeless shelter as a child, and worked as a mortgage broker before breaking through as a footballer. he could make his

as $10 billion, and maria, you heard a similar sentiment from black stone chairman and ceo steve schwartzmancompanies like uber and wework, i don't know the way the company the way some people do, but the absolute value that people were talking about, you know, given what the company actually does, you know, sort of really surprised me, you know, just sort of like an uber valuation would surprise me. lauren: surprised a lot of people, not all bad news, getting valuation of $35 billion, it has clear business model, has a path for growth, basically payments for online transactions, revenues are tie today customers who are increasingly digital. there are also building out into financial services like offering corporate credit cards, something investors understand and then there's airbnb, according direct listing, latest valuation around $30 billion for airbnb and investors want to see the path to profitability and you have road blocks like restrictions in cities like new york city and san francisco that would be challenging for airbnb but then again here is the solution, airbnb is starting to b

steve: i think we all are, flight steven schwartzman the chairman and ceo of blackstone group as wellnd for the trumps author of a brand new book "what it takes." that comes out this week. good to have you. >> good to be here. steve: when some people are looking and thinking what's going on with this trade deal with china? why vrnt they worked it out yet? it's complicated, isn't it. >> it's complicated, really because china for 40 years has been the fastest growing country in the world. maybe world history and they have got a system that is somewhat different than ours. not really compliant with open markets and protection of intellectual property. and to make it really simple. their tariffs and taxes when our country brings something in to their country, is three times as high as when they bring something in. steve: it's not a level playing field. >> it is not a level playing field. i think the united states and the rest of the developed world has said china's prosperity has proved to the state maybe we should have something closer to even. steve: what do you make of these people who

ed is here, chairman and ceo of the black stone group, steve schwartzman talking about his book.ahoma senator james lankford also joining us this morning, don't miss a moment of it, we have a big 3 hours, top story this hour is oil, once again dropping this morning on news that saudi arabia will restore normal output and production levels by the end of the month as secretary mike pompeo meets with saudi arabia king prince salman to twin attacks on saudi oil facilities, iran is denying any involvement in saturday's strike with president hassÁn rouhani blaming u.s. for disruption in the region. >> it's not exactly going well for them. i think this was their attempt to break out and sort of find way to put pressure on the united states, the fact is their economy is in shambles, people are hurting and the president has put the right amount of pressure on them, they have the backs against the wall, they are in the corner. >> what now, do you want to see a response from the united states once this obvious confirmation that, in fact, it was iran? >> they didn't attack us and the saudis,

his ninth time in the last four at flushing meadows and comes after he saw off argentina‘s diego schwartzmane murray is in men‘s doubles semi final action with neil sku pski today. they‘re up against the top seeds in robert farrah and juan sebastian cabal. murray is through to the mixed doubles final though with bethany matteck sands. that takes place on saturday. rhys patchell will start for wales, in theirfinalwarm up match before the rugby world cup. they play ireland on saturday. the scarletts man will start at fly half in dublin, with tomos williams his partner at half—back. captain and lock alun wynjones is among those who return with no uncapped players in the welsh matchday squad their opening game for the world cup injapan, on the 23rd september — they play georgia. that is all your support for now. more in the next hour. thank you for that. a bit of breaking news, boris johnson and the israeli prime minister have issued a statement that... that is coming from downing street. any court, both prime ministers agreed on a need to prevent iran getting the nuclear weapon. the prime minis