lou: joining us now, billionaire investor wilbur ross, chairman and ceo of wl ross and company, one ofvate equity firms, he's one of the world's leading great guys. good to have you here. >> good to be on, lou. lou: donald trump, ben carson, and they are now in full, full battle with the republican establishment. did you ever think you would see the establishment of the republican party go after the front-runner and be so blatant in trying to subvert the will of the people, the rank and file, in the choice of the nominee? >> no, i find it incredible, but what i find even more incredible, it isn't that there is a particular person other than donald that they want to see. they say in this state, vote for this one because that will knock out trump. in this state, vote for that one. mitt romney has now endorsed, what, three different people? lou: well, and probably counting. we don't know. mitt romney, paul ryan, they look like they've got stars dancing in their eyes and think they've got an opportunity here, your thoughts about what they're trying to do possibly to further their own ambit

wilbur ross and stays with us.ler will be joining that is next on "bloomberg ." ♪ matt: welcome back to "bloomberg ." time to go off the charts. i wanted to take a look at this dis function on the bloomberg. i put in integrated oil companies. there is a wall of debt coming due in 2019. what does this mean to you? wilbur: it means in several things. will have to be refinanced a year or so earlier because if you do not refinance it a year or so earlier, you will not get a clean opinion from the auditors, you will not be able to roll over the bank line. every year gets pushed back in the real world a year. 2020 is problem is a 2019 problem. becauselittle distorted so much is the big integrated oil companies, which are not going to fail. they may not like the terms, but i do not think they will fail. the real concentration of the problem is the roughly 20% of all high-yield and leveraged loans in the smaller emp-- matt: that is where you come in. wilbur: we are getting to be deeper and deeper into that world.

joining us right now is wilbur ross himself, the chairman and ceo of wl ross holding company. is a pretty unusual deal because you're not just buying it from tpg. they're staying on and holding a stake in this. >> yes. i think that's the interesting part about it. they'll end up with around a 38% interest in the combined company. a special purpose acquisition corp., as you know, is one that raises capital, goes public, but has no business at all, and then it has to go find something to merge into it. this is the solution to this company called nexeo, which is one-stop shopping for everybody's chemical and plastic needs. they serve 1300 suppliers. they have over 20,000 customers. and they're a global operation. they are the number one in plastics and number three in chemicals in north america. >> they're a supplier. does that mean they don't actually make anything? they're a middleman who gets the product to the customers? >> the way the deal will work is that the public shareholders will remain as they are. the tpg will get a bit over a billion in cash, get $350 million in sto

oil reaching its bottom at $30 a barrel according to wilbur ross.ined bloombergs david westin and matt miller on bloomberg and the conversation focused on distressed assets and the price of crude. around $30the bottom a barrel. amountven day, given the of speculation, it could go anywhere. in terms of where the real level, i don't see it going much below the $30. it is pretty low for a lot of folks and sovereign debt, but we think that as the iranian oil gradually gets absorbed this year, as u.s. show production we will nextdown, have to deal with the excess inventories. 2017 going to be well into before you see any kind of sustained uplift in oil. $15 on think it goes to a sustained basis. >> assume its 2017, what are we talking about? >> i think maybe $50. >> after the inventories have been drawn down. over $60, auch more lot more things can come on stream very quickly. >> that is one of the questions. to the show producers come back into the marketplace to drive it back down? >> everyone in oil patches is an internal optimist -- and eternal

wilbur ross giving the bloomberg go his mind on the gop front-runner, donald trump. ♪ scarlet: this isloomberg markets. i'm scarlet fu. it's time for the bloomberg flash. chesapeake energy considering a ine of some of its holding an oil soaked patch of shale in oklahoma known as the stack. that's according to people familiar with the matter. the natural gas giant is unloading assets to pay off debt. u.s. prosecutors are trying a new tactic in their investigation of volkswagen and omission test cheating. the government is using a far reaching law against bank fraud and are looking at whether volkswagen broke tax laws. they admitted to cheating on cars on whether diesel cheated in missions tests. amazon has agreed to lease 20 boeing cargo planes airport transit -- care transport services group. they want to reduce their reliance on carriers like fedex and ups. that is your business flash update. ecb decision,e most economists are expecting the ecb to announce new decisions and cut interest rates tomorrow at 7:45. the question that continues to limit his will the stimulus plan have enough

hey, maybe wilbur ross on br exst exit.with us on "bloomberg surveillance." ♪ francine: i'm francine lacqua here in london. tom keene is in new york. we are looking at the markets and brexit and u.s. politics but first let's get to the bloomberg chase with narrowa. >> thank you. the largest clothing retailer reported its largest profit. owning eight chains saying net growth was boosted by online sales. alibaba plans to start syndicating a loan forasmuch as $4 billion, and china's largerest online retailer plans to fund m&a retailers. u.s. bank stocks fell after citigroup joined its rivals with a warning on trading revenues. it says fixed nbling will robably drop 15% making 2016 the fourth year trading has fallen. that's your bloomberg business flash, francine, you have more on this. francine: yes. because we have to look at the implications for what citigroup says as mario draghi meets with the e.c.b. tomorrow. joining us with more is bloomberg's michael morris, he heads our u.k. financial coverage. you know citigroup micha

lou: donald trump, dre ben carson and wilbur ross among our guests tomorrow.nouncer: this is fox business coverage of election 2016. here is neil cavuto. neil: this is now how it was scripted on this primary crip an -- onthis primary and caucus.

lou: donald trump, dre ben carson and wilbur ross among our guests tomorrow. good night from new york. >> announcer: this is fox business coverage of election 2016. here is neil cavuto. neil: this is now how it was scripted on this primary crip an -- onthis primary and caucus. brussels, belgium, paris, france. times square, on heightened alert. in the case of new york, very high, a greater police presence in paris. a greater flis presence throughout much, much western europe and the western world. more attention to something that we thought was, well, a few weeks old. it was because it happened again. gerri willis with the latest on what we are learning what went down in brussels. gerri: the death toll now raised to 34. as many as 180 injured. what happened? a twin rush hour attack in brussels, the heart of the european union, and belgium, the capital of brussels. three explosions went off in the belgium capital tuesday morning. two in the brussels airport at 8:00 a.m. and one at the metro station at 9:00 a.m. this is prime time for workers there to be commuti

it are investor wilbur ross is buying control of seo solutions holdings are you $1.6 billion. the company from tpg which will retain a 35% stake and the deal is expected to close in the second quarter. monsanto is exploring possible crop chemical deals with basf andbayer of germany. monsanto lost out in the battle force and three american companies have deals in cuba. this coincides with president obama's historic visit to the island. airbnb and marriott say the u.s. government has approved their applications to do business there. starwood earlier said it would convert three hotels in cuba into starwood branded properties. that is your bloomberg business flash. jonathan: just breaking news. ceo,elecom italia suspicion over the weekend that he would be stepping down. he is. there was back and forth with their biggest invensy investor. ceo ofs the italian telecom italia is stepping down. he has resigned. that does not get to the top of corporate news. valeant. shares of valeant halted in early trading. the company searching for a new ceo as mike pearson, who just got back into t

we had wilbur ross on recently. let's play a little bit of that for you.ur: oil probably did hit bottom when it was around $30 a barrel, but on a given day, given the events of regulation, it could go anywhere. but in terms of where is the real level, i do not see it going much below 30. david: this is my question. this oil the symptom or the disease? we have spent so much time focused on oil, does it really affect the underlying fundamentals of global economy on growth? oilmed: it does, but low prices have gone from being a blessing to a curse. the reason why is the volatility that has come with low oil prices. 3% to 7% moves daily in oil have become common. oil is not a penny stock, it is a widely traded commodity. if you get 3% to 7% moves in that commodity, it is telling you the system is becoming less stable. this is important. i agree with him. look at the volatility of oil because it gives you a good insight as to how stable is the underlying volatility in markets. matt: i wonder about the bullish comments from goldman and the iea. if you look at op

matt: that is almost exactly what wilbur ross said. jonathan: you are all in good company.eep in the red both here and at n.y.c. in europe. up by 1.52%. this is "bloomberg ." ♪ hii'm here to tell homeowners that are sixty-two and older about a great way to live a better retirement... it's called a reverse mortgage. call right now to receive your free dvd and booklet with no obligation. it answers questions like... how a reverse mortgage works, how much you qualify for, the ways to receive your money... and more. plus, when you call now, you'll get this magnifier with led light absolutely free! when you call the experts at one reverse mortgage today, you'll learn the benefits of a government-insured reverse mortgage. it will eliminate your monthly mortgage payments and give you tax-free cash from the equity in your home and here's the best part... you still own your home. take control of your retirement today! jonathan: we are moments away from the opening bell, about 25 seconds away. that may get you up to speed where markets are trading. ftse 100 trading much lower thr

tomorrow, do not miss her conversation with wilbur ross, founder and chairman of wl ross.y ingle martin, the first woman to lead in a consulting firm. when he took over, you announced an initiative plan of adding headcount. how are you doing? >> we will hire 25,000 people in this fiscal year. david: 25,000? stephanie: to do what? ouro work in all of businesses. it to work in our auditing --iness demandtec business, auditing business, our tax business, these companies are transforming and we need to help them. david: is that 25,000 net or gross? net, ande high 18,000 we have an apprenticeship model where we are the future into corporate america for a lot of a lot of as well as different angles of transformation. stephanie: is the reverse happening now, because most wanted to be senior bankers on the street. headcountsing those and will they pay what banking used to pay? >> we are private partnership. in thelook at this workforce today, they are looking at purpose, value, and profit. they're looking at a triple bottom line. it is the dynamic of working for a company that has