starwood waypoint spun off from starwood itself in february 2014.you're talking about who's going to be on the boardstarwooe former executive. blackstone's global head of real estate jonathan gray and starwood capital chairman. these are people who are big within the commercial real estate community who are getting involved here. have some of these companies coming public earlier. it's interesting that invitation waited and now is making the state deal. also interesting that both companies stocks are going up in today's session. thank you. that was fascinating. , firedgoogle engineer google engineer defended his views in an exclusive bloomberg interview wednesday. has triggeredmemo a nationwide debate on gender differences in technology. he told emily chang the company executives are smearing him in the wake of all of this. it's hard to regret it just because i do believe that i'm trying to make google and the world in general a better place by not confining us to our ideological echoed chambers where only one side of the story it's totallyand intol

starwood's barry sternlicht is at the center of it. he will join us 234ex.ot have been tough enough for north korea we'll talk to a former special ops intelligence analyst about how to contain the threat. and former white house press secretary sounding off about the daily press briefings being televised. mike mccurry who served under president bill clinton and james patterson will join us here on set. he's out with yet another book about an online superstore that wants your money and your soul sound familiar u' wchg quk x"n un yoreatin"sawbo o cnbc whoooo. going somewhere? here's some advice. tripadvisor now searches more... ...than 200 booking sites - to find the hotel you want and save you up to 30%. trust this bird's words. tripadvisor. theextreme risk of burstd a pipes and water damage...y... soon, insurance companies won't pay for damages. that is, not if they can help prevent damages from happening in the first place. at cognizant, we're turning the industry known for processing claims into one focused on prevention with predictive analytics, helping t

betty: could you have done this without starwood in your portfolio? it made it more appealing for alibaba when they look at the size. -- there have been conversations between us and alibaba in the past. though the starwood and marriott had very good relationships with alibaba prior to the merger and it has become stronger. i think it was more compelling for them when they saw our size and expertise. in the case of marriott, they are looking at 90 years of hospitality experience. they are looking from the other side, saying how do we get that information for travelers when they go outside china? haidi: appreciate your time, craig smith, marriott international asia-pacific president talking about the tie up between alibaba and marriott. ,orld time inc. shares raising adjusted eps coming in a $.13 last quarter compared with estimates of $.11. the president and ceo told us the company is focused on building new revenue streams. >> for us, the exciting announcement today is the strategic transformation program. we have put together a plan we are thrilled a

people who may not be like a household name, but he created starwood hotels.y his real estate developer, his go-to guy to figure out what properties were sweeping up and what could turn a profit area -- profit. >> any idea where he has his eye on now? everything has become a pretty exciting area. did he give you any heads-up? touch.id have a midas not all his projects are necessarily going in the exact same direction as what he has done in the past. i think in his mind he is taking a different approach. he saw the london opening of the net, which is a gigantic hotel. you can imagine those grand huge buildings and with the stature and scope of that project was like. this is a departure for sunday a who has focused on boutique hotels in the past. you can make a big hotel that doesn't feel like vegas. >> he's going to be involved, it sounds like from the reporting, with mgm. ofwe can return to this idea his identity to strike amazing partnerships. he has partnered with mgm to create an extension of the nomad. he is alsoroperty opening as a brand in los angeles, i

the guy who created starwood was originally his real estate developer and go-to guy to figure out whichre worth sweeping up and what could turn a profit. hea young age he realized had a gift for identifying beautiful buildings and neighborhoods that had potential. idea for what he has his eye on now? everything he has touched has become exciting. >> he does have something of a midas touch. he is expanding quickly. not all his projects are going in the same direction as in the past but in his mind, he is actually taking a different approach. he saw with the london opening, which is a gigantic hotel. it is a former bank building in the middle of the financial district. you can imagine those grand buildings and the scope. this is a departure from boutique hotels. is realizing you can make it work. you can make a big hotel that does not feel like las vegas. oliver: but he is going to las vegas. --t will he be doing her? what will he be doing there? idea ofn return to this him striking these amazing partnerships. he is partnering with mgm to create an extension of the nomad -- here in new yo

marriott international begin the biggest hotel group in the world thanks to merging with starwood.ere. partnering with alibaba. craig smith says the focus will be on digital payments. >> it is the marriage of off-line to online. that is the new acronym today. we take to companies and put them together, we have the best and brightest. we have 500 million people on alibaba and we are marrying them with marriott loyalty customers. we have 125 million trips last year by chinese travelers. the largest percentage of those were to asia. this isest benefit to for asia, but it will benefit the company around the world. >> much as been made about chinese travelers. these chinese tourists. they could be business travelers, as well. how are they different than other travelers and how are you changing perhaps you are giving them services to attract them to your hotel? >> we always sick of travelers looking today for what they can get it home. there looking for comfort food, looking for tv shows in their language. the most important thing i think today that is different is digital wallets. they

invitation shareholders will own 59%, with starwood waypoint investors holding the rest.bloomberg is being told that india's biggest state-run energy producer will tap debt markets for the first time erie -- mg executives telling me the money will go to pay for the government's stake in petroleum as well as bankrolling other projects. haidi: the wall street journal says wells fargo chairman stephen singer will probably step down before a shareholder meeting early next year. we are likely to see elizabeth duke replace him in the chair. tensions intensified last month after the bank said half a million clients had been billed for extra car insurance. on theselet's get more rising tensions between the united states and north korea. joining us is bradley babson, chairman of the dprk economic forum at the johns hopkins school of it danced studies -- of advanced studies. also joining us is our chief asia correspondent. bradley, let's start things off with the possibility of war. is the greatest danger here something happening by accident? bradley: i think that's what everyone i

caller: jim, i like this name, middle of last year, starkwo starkwood property so where do you see starwoode next 12 months >> i think you own it for the yield. in fairness, i think the ceo is one of the great minds out there. but the yield at 8% is terrific. and i wish he would come on our show i think he's sensational dan in new york, dan >> caller: boo-yah, jim. how are you doing? >> good. how about you? >> caller: good. love the show. i appreciate you taking my call. >> thank you >> caller: my question is, which airline companies do you think are a good buy now or in the near future and your thoughts on -- >> this is easy for me symbol luv, i was going to tell action alerts club members that under $55. wa warren buffett loves it, too this is the only airline that hasn't lost money. southwest, luv >>> looking to harbor profits? hop aboard the cruise stocks i think it's smooth sailing for these guys they're in shipshape much more "mad money" ahead, including my take on alliance data systems then who would offer sticky floors or high-priced popcorn in a movie theater? what if you didn't ha

. ♪ >> marriott international became the biggest hotel group in the world after its merger with starwoodot end there, it is marrying its name and services with alibaba, to help tap into the tourism boom exploding in china. describe to us, particularly as it relates to the asia business, how exactly this will work between marriott and alibaba? >> you have got the words right. it is a marriage, a marriage of offline to online. or online to offline. that is the new acronym, o-to-o. we have taken the two companies, the best and the brightest minds, you have 500 million people on alibaba's platform and we are marrying them with 100 million of marriott customers. you got 125 million trips by chinese travelers last year, and the largest percentage of those were to asia. so the biggest benefit of this, is of course, to asia but it will benefit companies around the world. >> u.s. payments process agreed to buy the uk's world paid group. $10.4 billion, part of a trend of increasing consolidation in the payments industry. should investors be happy with the deal? >> if you come in at the ipo, it is

tuesday september 12th and steve mnuchin and steve schwartzman and jamie dimon and also joining us, starwoodalue, we'll cover all of the baselines here on cnbc jeff smith, by the way -- so that's going to be a great conference we're a few hours from the closing bell your final trades are coming up. first a look at the s&p 500 sector, telecm financials and consumer staples the drag. >> when it goes, it's going to go up big. you know who likes to be in control? this guy. check it out! self-appendectomy! oh, that's really attached. that's why i rent from national. where i get the control to choose any car in the aisle i want, not some car they choose for me. which makes me one smooth operator. ah! still a little tender. (vo) go national. go like a pro. your bbut as you get older,ing. it naturally begins to change, causing a lack of sharpness, or even trouble with recall. thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory

this includes the starwood acquisition. looking at the numbers to see how it continues to digest that acquisition. >> espn and the cost benefit is in focus. foray into its first sports content outside the united states by poaching television rights for atp tennis from sky. this is their second move into live sports. bloomberg intelligence director of north american research call sweeney-- research paul joins us. i want to talk about this, it was quite interesting. $30 million per year for five years. 1.4 billion pounds, $1.8 billion. the price tag is testing the water. >> should the traditional pay-tv the answer is yes. they are dipping their toe in tennis and the u.k.. we saw yahoo! do an nfl bill. this is dipping the toe in the water of tech companies. >> if we see an increase in our return in investment works and then we will scale up. >> that is exactly the problem. it is happening with amazon as it is with netflix and hulu. a lot of these are ramping up their investment programming. amazon is the third largest buyer of

it's essentially starwood and blackstone merging their single-family home businesses into one it will be the number one landlord of single-family home rentals in the united states and yet have less than 2% market share. this is an enormous asset class. extremely fragmented i think this combination is going to be killer it'snot a high yield, because it's a growth reit the other one is historic capital. warren buffett just bought a direct stake from them last quarter. store is getting tarred, but the market has it wrong. they are a triple net lease operator, but it's stand-alone properties and very, very small exposure to retail what they're actually owning is the buildings that house things like petcare, salons, gyms, movie theaters this is a 3% yield right now buffet's in, and this is a company that is not exposed to disruption via amazon. they are exposed to the hottest part of the consumer spending opportunity, which is experiences and services so i don't think this is being appropriately valued it should not trade with simon properties and the mall reits. they don't own malls they

the ceo of starwood says it will leave the business.s temporarily closed its dallas location after video emerged of a rodent in the feeling last month. gapsompany says structural caused the problems in the 100-year-old building. that is your business flash update. muchix index fighting as as 40% today. our traders take a look at how to play volatility. from new york, this is bloomberg. ♪ julia: this is "bloomberg markets." i am julia chatterley. scarlet: i have scarlet fu. the chief operations start is that interactive brokers, and here we are, comingity is finally back. an interesting phenomenon is people are really short volatility right now. we have a chart of that on the bloomberg want to bring back. g #btv 8279. uvxy.ws the vxn and the the uvxy is the. short. short interest has been going up. what is now going to have as a result of this? people like to follow trends, and certainly that trade has been to continue shorting the etf's as the volatility went down. the problem is, volatility does not going to zero, so i think we are act

imitation shareholders will own 59%, with starwood investors holding the rest.a look at the markets trading. here is how we're steering so far. the asx 200, we are seeing shares lose more than 1% on this friday morning. we do have a rough day on wall street overnight. 44%.ix at president trump dialing up his warning to north korea. they're calling a game of chicken between u.s. and north korean leaders. bonds also rising, as well. we are seeing the japanese yen of about 0.1%. the south korean won continues to weaken. weaken.continues to at thetaking a look geopolitical tensions here. a lot of people are saying if this is all military fear of threat or actually an excuse for a lot of investors to try and sell off some of their assets. we will see if this will be continued through the day. this could actually lead to further downside if we see selling into the close. who knew that phones would start doing everything? entertaining us, getting us back on track and finding us dates. phones really have changed. so why hasn't the way we pay for them? introducing xfinit

and be sure to get you all the details around the alibaba venture as well as the acquisition of starwood to you guys. >> certainly investors seemed excited about it seema, thank you. >>> time now for a cnbc news update with sue herera hi, sue. >> here's what's happening at this hour, everyone. new york city mayor bill de blasio calling for a millionaire's tax to fund mass transit. the proposed tax targets the city's wealthiest 1% the funds would provide half-priced fare cards to low-income new yorkers >> we need a millionaire's tax so that new yorkers who tip clip travel in first class pay their fir share so the rest of us can get around, so the rest of us can get to work, so the rest of us can live hour lives here in this city. it's a matter of fairness. >> the remains of a victim of the nevin attacks on the world trade center has been identified the victim is maryland and is the 1,641st person identified in the ongoing efforts to identify all 2,753 victims. the name of the man is being withheld at the request of the family >>> the host of the popular tv show "top chef" arriving at fede

barry sternlicht is the board of starwood waypoint homes. >> we've been speaking with david rubensteinnd one carlisle investment that is relevant to the national discussion is a health care company known at ortho clinical diagnostics. the carlisle group purchased the company from johnson & johnson three years ago for just over $ billion. joining us right now is the chairman and ceo of ortho clinical diagnostics david, i want to start with you, first of all what attracted you to this company? why did you buy it and how have things been going in the three years since? >> first, when we buy a company, we knew martin would be the ceo and he as a terrific track record we had a large company that probably didn't pay enough attention to this and so it was a bit of a corporate orphan and we thought there were opportunities to improve it. we also thought that the price while not cheap was affordable and we also had reasonably good financing, good due diligence and thought we could improve the company. over the last three years or so we've made a lot of improvements in the company. >> yeah, we t