So, tpg is an investor in uber, airbnb, vice, spotify. What do all these companies have in common and what does it tell us about your strategy . Jim i think they all have in common that they are driving disruptions in their industries. In some ways, if you look at the history of tpg, while we are often called a private equity firm, from the very beginning when we started with continental airlines, people began thinking the were airline investors, but that was a moment in time. We have not done much airline investing in 10 years, but since that founding 25 years ago, we have constantly specialized in finding where the economy is changing and how we can expose capital to it. Emily you and David Bonderman cofounded tpg in 1993. You were both working for a texas billionaire. What was it in those early days that set the stage for what tpg became . Jim we came to the industry from a different place. First of all, it is a bit aggressive to call it an industry in 1990. In fact, it was a backwa
Studio 1. 0, tpg coceo jim coulter. So, tpg is an investor in uber, airbnb, vice, spotify. What do all these companies have in common and what does it tell us about your strategy . Jim i think they all have in common the fact that they are driving disruptions in their industries. In some ways, if you look at the history of tpg, while we are often called a private equity firm, we have always been for a very first part of their capital, disruptors. From the very beginning when we started with continental airlines, people began thinking we were airline investors, but that was a moment in time. We have not done much airline investing in 10 years, but since that founding 25 years ago, we have constantly specialized in finding where the economy is changing and how we can expose capital to it. Emily you and David Bonderman cofounded tpg in 1993. In 1992. You were both working for a texas billionaire. What was it in those early days that set the stage for what tpg became . Jim we came to the i
Is less human input. Also speaking in riyadh, the head of saudi arabias Sovereign Wealth Fund pouring cold water on speculation that the listing of saudi aramco could be delayed saying the ipo is on track. And novartis beats expectations in the Third Quarter as they say they are making significant progress on plans for a possible ipo of its alcon unit the ceo tells cnbc what management is thinking if we do bring this to market in a spinoff, lets say, its going to be important that we do it from a position of strength, so that in the nearterm we have to focus alcon on delivering consistent sales growth and core operating Income Growth. As chinas Party Congress draws to a close, xi jinping is importalized in the constitution as he is named in the amended draft. Just want to bring you data from the eurozone in the form of composite pmis, they were below expectations we have the flash composite pmi for october falling to 55. 9 from septembers 56. 7 still comfortably above the 50 level. But
The president to steer clear from reform efforts. Is the latest in an ongoing feud between present trump in bob corker. President trump said that bob corker was unpopular in his home state of tennessee and was instructing the effort to overhaul taxes. Kevin, let me start with you. This is a luncheon that takes place regular and mike pence will be there. It is Something Different when the president goes there and talks to members. What do they expect to hear from him today . Kevin everyone is trying to figure out where the president is on tax reform. We have had to draw a couple of red lines, but i think everyone is still try to figure out what exactly is he going to lay down in terms of what he wants and what he doesnt want . Is he going to do that sort of upset whatever their plans are . Obviously yes talked about a massive tax cut. A number of republicans, including majority leader of the senate, who talked about tax overhaul. Theyre talking about something more revenue neutral than
Discussed 8 00 a. M. We are two hours away from the open of asias first major market opening for the trading week. Betty it is already after 6 00 p. M. On sunday evening in new york. We are kicking off to what will week ony adventurous wall street, a lot of focus on President Trump who has wrapped up his trip to the middle east, on to israel, or in israel soon and into italy. That will likely be the key event investors are watching for. Also watching for economic numbers coming out including housing in the u. S. Lets roll up what happened on friday as you were enjoying the weekend in asia. You did see quite a nice rally, sort of a bounceback in the dow, the s p, both of. Up. Still on awork losing streak, given the big tumble we saw. This as markets certain to price in the uncertainty from washington. We will see. This will be a key litmus test for how investors will absorb continuing uncertainties out of washington. Haidi that is right. It feels like we continue the misadventures in th