Blackstone to Acquire 20% of Versace

REPLAY VIDEO
Your next video will start in
Pause

Recommended Videos

  • Info

  • Comments

  • VIDEO TEXT

Feb. 27 (Bloomberg) –- On today’s “The Roundup,” Trish Regan, Matt Miller, Julie Hyman and Olivia Sterns wrap up the day’s top market stories on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)

Banking committee.

The testimony was rescheduled because of the bad weather.

There was an annual report on monetary policy.

She reiterated that the fed would keep monitoring to determine if recent weakness in the economy was temporary.

Here's what she had to say.

We have indicated that if the economy progresses as we anticipated, we expect to continue reducing the case of purchases in measured steps.

That would mean we would enter completely -- and completely sometime next fall.

Did you hear what she said?

She basically used a lot of words to say absolutely nothing.

A lot of analyst said that the markets rally because she said that if the economy does weekend, the fed will reconsider the case of the taper.

It may be obvious, but you have to say it.

Glad she is following in ben bernanke and alan greenspan hotspots that by using a lot of words to say not very much at all.

It is very different from before when we heard her and she gave her testimony.

She was pretty poor coming.

You wonder if there has been anything going on.

Hey janet, don't tell them what you think.

We have the bad jobs report.

We have the bad weather.

That is a part of this.

She spoke about bitcoin, matt's fever topic.

There is no authority from the bed with respect to decline -- bitcoin.

It would be appropriate for congress to ask questions about the legal structure for virtual currencies.

Glad she did not say anything there, but ben bernanke had said that there could be room for digital currency.

For the room?

What does that mean?

I don't know if you were here that day.

I was not on set.

You and adam were interviewing him.

He talked about bitcoin and he was negative.

Shocking.

But he said it with the current the that does not have a feature because it is not regulated.

I have yet to hear one person talking either of bitcoin.

She was diplomatic.

She said that it merits further study.

She was falling back on her rule.

It is interesting that she was even open-minded.

Greenspan was not.

If you are going to say anything, they in that voice.

It is green, like woody allen.

Quiet it is not her voice.

It is the way she's eight.

-- she speaks.

She had this very librarian image.

I don't think that honeymoon will last.

I want to point out another story.

You know how i am a big fan of the tsa and the work they do for this country.

They attempted to screen an worker for bitcoin.

He was stopped by the tsa after one of the security staffers said that he or she saw bitcoin in his bag and needed to check it.

They saw the digital currency.

Obviously there was no bitcoin in his bag because bitcoin is virtual.

But the tsa -- i have to give them a lot of credit for knowing what bitcoin is and making the connection.

He was making a selector -- he was wearing a selector that is equine -- sweatshirt that said bitcoin.

You cannot bring more than $10,000 cash out of the country at any time.

The whole idea is that the tsa is trying to prevent something illegal from happening.

You cannot even carry bitcoin.

How does that work?

The tsa knew what bitcoin is.

Shocking.

And they knew that it is easy to transport in a small amount of space.

I give them points for getting that far.

The fact that they did not realize that it is only carried in "0"s and "1"s over networks -- the tsa is slowly learning.

Someday they will not take my toothpaste away.

Whenever we do equine stories, we use these animations of coins.

Why do we do that?

We should do a matrix.

Streaming down the wall.

I have another story for you guys.

There is a new role of chief economics adviser.

He had a surprise resignation of pimco.

He will spend 50% of his time working and 50% with family and book projects.

There are a lot of questions.

There was a very interesting article in the wall street journal earlier this week.

It suggested that things were not so good.

It was an acrimonious split.

It will only get him 50%. it will keep him on.

It is true.

And they don't mind -- who knows?

Who knows of this will be an insult to bill gross.

According to the wall street journal story, he has brought in mediators to bring these two guys together.

One could even interpret this to say that they wanted to also.

Even if these guys could not have a good working a relationship, one could imagine an area where they are friendly.

Let's talk about fashion now.

For sake.

-- versace has agreed to sell a 20% stake in blackstone -- to blackstone.

They will pay 287 million for the shares.

The transaction values versace at one billion euros.

They hired goldman sachs back in 2012 and they have been looking for an investor ever since.

In that time, we have seen the ipos of several have success.

They are looking for an initial public offering.

Ferragamo comes to mind and michael kors.

These are great when -- brands.

Why would anyone want to wear anything like this?

There is a lot of money in accessories.

It looks trashy.

It is so expensive that it is trashy.

It does not do anything for me.

They like that over the top, gilded look.

You are a vegan?

She wears me.

-- meat.

But there is excitement over the brand that they can parlay into other lines.

The seattle mayor.

He's at the taxi services may be shut down if they do not carry more insurance.

Huber was -- uber was sued by the parent of a six-year-old who is hit and killed by a vehicle in separate cisco.

-- stan francisco.

The mayor said -- macklemore is urging his twitter followers to sign a petition.

That unfortunately could happen -- it is a horrible, horrible story.

A little boy was killed by a cab driver.

Quite a lot of people are killed in accidents.

It is a big leap to say whose fault it was overall.

We are using a jet pack to make that leap.

Are we going to see more insurance regulations?

Are drivers going to have a higher level?

It is probably the taxi unions that are pretty mobbed up.

You think everything is mobbed up.

I do.

It must be.

We will take a quick break.

We will talk about the building

This text has been automatically generated. It may not be 100% accurate.

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change