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Investors in Blackstone's real-estate fund asked for their money back in droves — more than $15 billion to date. Unless the real-estate market comes roaring back, analysts warn, BREIT could end up shrinking to a fraction of its current size, leaving the fund's investors holding the bag. Only 3% of BREIT's holdings are in office buildings, which have been ground zero for commercial real estate pain. Advertisement"Not all real estate is created equal," BREIT boasted in a recent letter to stockholders, "and where you invest matters." "Commercial real estate is a slow burn," Brian Moynihan, the CEO of Bank of America, recently observed.
Persons: Blackstone, , BREIT, REITs, Steve Schwarzman, Jeenah, Nate Koppikar, Craig McCann, BREIT's, Chilton, ​ ​ McCann, McCann, Horacio Villalobos, That's, Donald Trump, Robert Chang, Schwarzman, Michael Blackshire, Phil Bak, Stephen Schwarzman, Shannon Stapleton, Brian Moynihan, it's, It's Organizations: BREIT, Orso Partners, Securities Exchange Commission, Blackstone, SEC, Chilton Capital Management, SLCG Economics Consulting, Publicly, University of California, Regents, Armada Investors, Reuters, Bank of America Locations: BREIT, Lisbon, Fideres
Read previewWhoopi Goldberg revealed that her "Sister Act" costar, Maggie Smith, consoled her after she learned of her mom, Emma Johnson's, death in 2010. Goldberg recalled the touching moment in her new memoir " Bits and Pieces: My Mother, My Brother, and Me ," released Tuesday. AdvertisementMaggie Smith as Mother Superior and Whoopi Goldberg as Deloris Van Cartier in "Sister Act." "I explained to Maggie Smith what was going on and apologized for having to fly home as soon as I could. "That's when this magnificent woman, Dame Maggie Smith, went from being my backstage company to being my friend through the rest of the night," she said.
Persons: , Whoopi Goldberg, Maggie Smith, Emma Johnson's, Goldberg, cohost, Superior, Clyde K, Johnson, Smith, Mother Superior, Deloris Van Cartier, Goldberg's, Emma Johnson, John Nacion, Dame Maggie Smith, Maggie, I've Organizations: Service, London Palladium, Business, Variety Locations: San Francisco
Knowing how to navigate those short, and slightly clumsy, conversations can actually help your career, says workplace expert Henna Pryor. A major reason people don't get promotions — or reach their "pinnacle level of success" — is because they avoid discomfort, she tells CNBC Make It. Starting small, even with seemingly inconsequential conversations with peers, can prepare you to broach more difficult conversations with your boss, she says. Make participating in conversations feel like a game: Every time you contribute to a meeting, draw a star in your notes. Don't worry if your conversations feel halting — practice will eventually grow your confidence.
Persons: Pryor, Zers who've, fixating Organizations: CNBC
The Toy Story Hotel at Tokyo Disney Resort allows guests to feel like they are stepping into a larger-than-life land of toys, without the larger-than-life prices that can come with staying on Disney property. This spring, my family of three checked in to the 595-room hotel, which is located near Bay Station on the Tokyo Disney Resort Line, the resort's dedicated monorail line. Our room was cozy but comfortable and only cost about $280 a night — a steal compared to American Disney hotels that can cost twice as much. Although this has caused turmoil in the markets, it may be good news for American travelers looking to save even more cash. At any cost, this themed hotel that opened in 2022 was a fun place to spend a few nights and offered superior access to Tokyo Disneyland.
Organizations: Service, Tokyo Disney Resort, Disney, Business, American Disney Locations: Tokyo, Bay, American
CNN —The news this week that Elon Musk laid off Tesla’s entire Supercharger team sent shockwaves of uncertainty through the industry tasked with building America’s new network of EV chargers. A fast and reliable charging network is an essential ingredient in getting more people to switch from gas-powered vehicles to electric, and some early types of chargers proved less than dependable. Tesla had a superior charging network long before President Joe Biden set an ambitious goal to install half a million stations around the US by the end of the decade. “There are many, many charging companies out there,” an EV industry source told CNN. “Charging is a difficult business, there’s no doubt about that,” the EV industry source said.
Persons: Elon Musk, Tesla, Joe Biden, NEVI, “ It’s, , it’s, ” Daniel Sperling, University of California Davis, Loren McDonald, ” McDonald Organizations: CNN, EV, Joint Office of Energy, Transportation, Electric Vehicle Infrastructure, NEVI, Infrastructure Law, , Institute of Transportation Studies, University of California Locations: EVAdoption, New York
Fulton County District Attorney Fani Willis attends a hearing on the Georgia election interference case, March 1, 2024, in Atlanta, Georgia, U.S. A California man was indicted by a federal grand jury in Atlanta on charges of threatening Fulton County District Attorney Fani Willis, the U.S. Attorney's Office for the Northern District of Georgia announced Friday. The indictment detailed more threats Schultz made, including, "FANI WILLIS WILL BE DEAD IN 2024," and other threats using racial slurs. In a statement released by Willis' office, she referenced GOP state Sen. Bill Cowsert, who is leading an investigation of Willis' office. In March, Fulton County Superior Court Judge Scott McAfee ruled Willis could continue prosecuting the case, but she and Wade could not work on it together.
Persons: Fani Willis, Willis, Nathan Wade, Donald Trump, Mark Schultz, Schultz, FANI WILLIS, Trump, Keri Farley, Sen, Bill Cowsert, Ryan Buchanan, Wade, Scott McAfee Organizations: U.S, Attorney's, Northern, Northern District of Georgia, Department of Justice, American, United States Attorney, FBI, African American, Trump Locations: Fulton County, Georgia, Atlanta , Georgia, U.S, California, Atlanta, Northern District, Chula Vista
There's still plenty of room for upside in tech stocks, Morgan Stanley said earlier this week. CNBC Pro combed through Morgan Stanley research to find the firm's favorite overweight-rated stocks based on the latest results and updated forecasts. "We believe GOOGL's AI positioning is improving, and that investors are beginning to recognize this," he said. Spotify Shares of the music streaming giant are too attractive to ignore following the company's blowout earnings report in late April, according to the firm. ... We believe GOOGL's AI positioning is improving, and that investors are beginning to recognize this.
Persons: Morgan Stanley, Brian Nowak, durably, Nowak, Keith Weiss, Weiss, Morgan Stanley's, Benjamin Swinburne, Swinburne, that's Organizations: CNBC, Apple, Microsoft, Spotify, 28X Locations: China
Here’s a look at some of the pro-Palestinian campus protests around the world. AustraliaOver the past few weeks, pro-Palestinian protest camps have appeared in at least seven universities across Australia. FranceIn Paris, pro-Palestinian protests erupted at the Sciences Po university and the Sorbonne university in late April. At McGill University in downtown Montreal, pro-Palestinian student protesters have set up an encampment on the front lawn. On May 2, a Quebec Superior Court judge rejected an injunction request that would have forced the pro-Palestinian protesters to leave their encampment.
Persons: Hilary Whiteman, , Owen Humphreys, Miguel Medina, Emmanuel Macron, ” Louise, ” Samuel Lejoyeaux, “ I’ll, , India Eric Garcetti, Christinne, Oliver Marsden, ” Ali Organizations: CNN, New York’s Columbia University, Portland State, UCLA, United Nations, The University of Queensland, Students for Palestine, Palestine, University of Sydney, Sydney, United, United Kingdom Pro, Newcastle University, Newcastle University’s, , Sciences Po, Sorbonne, . Riot, Sorbonne University, Getty Images Sciences, Columbia University, Columbia, Harvard, Yale, UNC, Vanderbilt, , Union of Jewish Students of France, Le Monde, CRS, Jawaharlal Nehru University, Jamia Milia Islamia University, BJP, Bharatiya Janata Party, Communist Party, ’ Federation of India, At McGill University, Palestinian, Israel . Mounted, McGill University's, University of Toronto’s, University of British, CBC News, Reuters, American University of Beirut, American University of, Getty Locations: Gaza, United States, Europe, Asia, Israel, Gaza’s Rafah, Australia, Brisbane, United Kingdom, Newcastle, England, Leeds, Bristol, Warwick, Britain, France, Paris, Palestine, AFP, de, India, New Delhi, Columbia, Jamia, Canada, Montreal, Quebec, University of British Columbia, Vancouver, Lebanon, American University of Beirut, Beirut
I tried Chili's Big Smasher burger, the chain's first new burger in three years. AdvertisementChili's just came out with its first new burger in three years in the hopes of competing with fast-food chains like McDonald's. The burger, which launched on April 29, has similar ingredients to a Big Mac but twice the meat. I tried the burger for the first time at Chili's headquarters in Dallas a few weeks before its official launch. Here's what I thought of Chili's new Big Smasher burger.
Persons: , Chili's Organizations: Service Locations: Dallas
Clients paid upfront fees ranging from $35,000 to more than $100,000 to have their stores run by Wealth Assistants. AdvertisementThe complaint also alleges that Carroll — who was Wealth Assistants' founder and CEO — and the Days violated securities laws because the business opportunity they sold through Wealth Assistants could be considered unregistered securities. Related stories"Plaintiffs' evidence shows that each of the Individual Defendants made intentional misrepresentations in connection with Wealth Assistants' services," the order reads. It follows another lawsuit that was brought against Wealth Assistants in California Superior Court in San Bernardino County in January. Wealth Assistants claimed that the digital bank froze its accounts without warning or explanation in October and is still withholding its funds.
Persons: , — Ryan Carroll, Max K, Michael Day —, Max O, Carroll —, Judge Wesley Hsu, Carroll, Nico Banks Organizations: Service, Court, Central, Central District of, Wealth, Business, Washington, Banks Law Office, Bank Locations: Central District, Central District of California, DC, California, San Bernardino County, Tennessee, mstone@insider.com
Wall Street needs a new rhyme for "sell in May and go away." NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Advertisement"Sell in May and go away" is an old Wall Street adage that highlights the fact that the stock market's worst six-month stretch of performance is historically May through October. LPL Financial's chief technical strategist Adam Turnquist highlighted that since 1950, average returns for the S&P 500 during this six-month period are actually positive, not negative, at +1.7%.
Persons: Carson Group's Ryan Detrick, , they're, LPL, Adam Turnquist, Turnquist, Ryan Detrick, Fundstrat's Tom Lee, Lee, Detrick Organizations: Service, Carson Group
USS Boxer, an amphibious assault ship, is undergoing repairs, causing disruptions to Marine Corps operations. Naval Surface Force has stated that the USS Boxer may deploy this summer. AdvertisementUSS Boxer, a namphibious assault ship, is undergoing repairs, and a top general says that the hang-ups are affecting Marine Corps operations and depriving the force of key capabilities. Smith also said that Marines cannot train the same with the USS Boxer, a large flattop that resembles a medium-sized aircraft carrier, currently out of action. USS Boxer received seven Navy-wide awards in March, including the Battle Effectiveness Award and Maritime Warfare Excellence Award for its "sustained superior performance."
Persons: Boxer, , Eric M, Smith, Mikal Chapman, Adm, Lisa M, We're Organizations: Marine Corps, Naval, Force, Boxer, Service, House Armed, Marines, USS, Fighter Attack, U.S . Navy, Naval Operations, Naval Surface Force, USNI, Navy, Maritime Locations: San Diego
Russian forces have used the “artillery drought” hampering Ukraine’s defenses since December to push forward on the eastern front near Avdiivka, making the largest advance since the early months of the war. Only on Sunday did the top Ukrainian military commander, Oleksandr Syrskyi, admit the fall of a series of villages that his subordinates had insisted for days were still contested. The resulting fallback showed Russian forces had, in just over two months, made the most substantial and swift progress since July 2022’s advances near Severodonetsk, according to a CNN analysis. DeepStateMap, which updates the frontline situation daily, showed significant losses near Avdiivka. Yurii Fedorenko, commander of the Achilles attack drones company at the 92nd separate assault brigade in that area, said the next two months marked a “window of opportunity” for Russian forces.
Persons: Chasiv, Oleksandr Syrskyi, Ruslan Mykula, ” Mykula, , Volodymyr Zelensky, Oleksandr Ratushniak Oleksandr Ratushniak, Chasiv Yar, Col Nazar Voloshyn, ” Voloshyn, Druzhkivka, Novozhenina, Yurii Fedorenko, Organizations: CNN, Sunday, Kurakhove, Ukraine’s, Airborne, REUTERS, Reuters, Russian Locations: Ukraine, Avdiivka, Donetsk, Mariupol, Russia, Pokrovsk, Chasiv Yar, Bakhmut, Ukrainian, Russian, Avdiivka’s, Severodonetsk, Ocheretyne, Kurakhve, Kupiansk, Kharkiv, Moscow
It's not just that it has been a down month (down 3.0% for the S & P 500, breaking a 5-month win streak). However, weaker does not mean down. The S & P, even in the weakest five months, was still up almost 2%. The bottom line: market timing is always a tricky affair. Many of these timing maxims could be trumped by an even better one: "It's time in the market that matters, not market timing."
Persons: It's, Nicholas Colas, Jeff Hirsch, it's Organizations: Dow, Stock Locations: It's, DataTrek
CNN —England international rugby player Billy Vunipola has been fined and handed a suspended four-month prison sentence after resisting arrest at a nightclub in Mallorca, a Spanish court said on Monday. He was charged with serious disobedience to an authority and resisting arrest, according to the court sentence document seen by CNN. “The accused admitted that he was in a nightclub in Palma where some police officers came because of a fight,” the court statement said. The 31-year-old also confirmed that he had been charged with resisting the law and had paid a €240 fine. According to the three-page court sentence document, Vunipola admitted that he had not followed police orders and subsequently caused an injury to an officer’s right wrist and hand, requiring medical attention.
Persons: Billy Vunipola, Vunipola, , , won’t, “ unreservedly Organizations: CNN, England, Court, Justice, Spanish National Police, Saracens, Bath Locations: Mallorca, Palma, Palma ., Spain, France
“I have decided to continue, with more force if possible, as the head of the Spanish government,” the 52-year-old prime minister said. Sanchez thanked his Spanish Socialist Party members for their support. Manos Limpias acknowledged on the same day that it had relied on press reports for its court complaint. Javier Soriano/AFP/Getty ImagesSanchez’ Socialist party performed strongly in recent regional elections in Spain’s northern Basque region. Sanchez became prime minister in 2018 after winning a no-confidence vote against the conservative Mariano Rajoy.
Persons: Pedro Sanchez, Begoña Gomez, Sanchez, Gomez, Manos Limpias, , , it’s, Gomez “, Manos, General’s, Hazte, Javier Soriano, Mariano Rajoy, “ Pedro, , we’ve, Español’s Pau Mosquera Organizations: CNN, Spanish, Spanish Socialist Party, Madrid, Superior Court of Justice, AFP, Getty, Socialist, Socialist Party, Español, Español’s Locations: Madrid, Spanish, Spain’s, Basque, Catalonia, Ukraine, Kyiv, Spain,
Prosecutors in Arizona said on Monday that they would not retry a rancher who was charged with murdering an unarmed migrant on his property last year after a mistrial was declared last week. Judge Thomas Fink of Santa Cruz County Superior Court declared a mistrial on April 22. The Santa Cruz District Attorney’s Office said in a statement on Monday that “because of the unique circumstances and challenges surrounding” the case, Mr. Kelly would not be retried. “However, our office’s decision in this case should not be construed as a position on future cases of this type,” the office said. “Our office is mandated by statute to prosecute criminal acts, and we take that statutory mandate seriously.”
Persons: George Kelly, Gabriel Cuen, Cuen, Buitimea, Judge Thomas Fink, Kelly, , Organizations: Santa, Superior Court, Attorney’s Locations: Arizona, Kino Springs, Ariz, Mexico, Santa Cruz
Viviane Ghaderi, a former Amazon exec, is suing the company, alleging misconduct and discrimination. She said her boss told her to ignore legal advice to limit the material an Amazon AI model could use. AdvertisementA former Amazon executive is accusing the company of telling her to violate copyright law to compete with other tech giants in AI. Viviane Ghaderi filed a lawsuit against Amazon in Los Angeles Superior Court, saying she was discriminated against and ultimately fired. This story is available exclusively to Business Insider subscribers.
Persons: Viviane, Ghaderi, , Viviane Ghaderi Organizations: Amazon, Service, Los Angeles Superior Court, Business Locations: Los Angeles
GOP Rep. Bill Posey won't seek re-election
  + stars: | 2024-04-27 | by ( Alexandra Marquez | ) www.cnbc.com   time to read: +2 min
Florida GOP Rep. Bill Posey announced Friday that he won't seek re-election. In a statement, Posey, who was first elected to Congress in 2008, said, "It has been the greatest honor of Katie's and my life to represent you in Congress. The Republican primary will now feature former Florida Senate President Mike Haridopolos, who jumped into the race on Friday, Joe Babits of Vero Beach and John Hearton of Satellite Beach. Posey added, "Mike knows our district and has stayed involved at local, state, and federal levels. Twenty-five Democrats have also announced that they won't seek re-election.
Persons: Bill Posey, Posey, Katie's, Mike Haridopolos, Joe Babits, John Hearton, Haridopolos, Mike, they'll Organizations: Florida GOP, Republican, Facebook, GOP, House Press Locations: Washington ,, Florida, Orlando, Vero Beach, Satellite
More than two years after a judge ended the conservatorship that had given James P. Spears control of his pop star daughter’s life, Britney Spears and her father have settled their outstanding legal dispute over the payment of his legal fees and his management of her finances. The terms of the settlement were not disclosed in court filings made by both parties in Los Angeles Superior Court on Thursday. But the two sides had been at odds over the size of Mr. Spears’s legal fees and questions about his oversight of her money as conservator. Ms. Spears’s 13-year-long conservatorship, which began in 2008 after a series of public breakdowns, was terminated in 2021. Mr. Rosengart argued that, in particular, his client should not have to pay her father’s current legal bills, asserting in court papers that Mr. Spears had paid himself $6 million, improperly surveilled his daughter and engaged in financial misconduct during his tenure.
Persons: James P, Britney Spears, Spears’s, Mathew S, Rosengart, Spears Organizations: Los Angeles Superior Court Locations: Los Angeles
Samsung 65-inch S95D 4K OLED TV This exceptional high-end TV is the brightest OLED we’ve ever tested. I've seen this kind of behavior on a few other OLED TVs, but it's more extreme on this model than on competitors. However, there is speculation that the brand could sell versions of its 2024 OLED TVs with WRGB panels instead. Steven Cohen/Business InsiderBased on my initial testing, the Samsung S95D is an excellent option for anyone who wants a high-end OLED TV. Ultimately, buyers seeking a premium viewing experience can't go wrong with any high-end OLED TV.
Persons: It's, Slim, HLG, Steven Cohen, I've, wonky, upscaling, you'll, there's, that's, S95C Organizations: Business, Samsung, LG, Sony A95L, Shop, Dolby, HLG Smart, Samsung TV, Forza, Sony Locations: La
The Food and Drug Administration on Friday approved Pfizer 's treatment for a rare genetic bleeding disorder, making it the company's first-ever gene therapy to win clearance in the U.S. The agency greenlit the drug, which will be marketed as Beqvez, for adults with moderate to severe hemophilia B who meet certain requirements. Without that protein, called factor IX, patients with hemophilia B bruise easily and bleed more frequently and for longer periods of time. The gene therapy will compete with Australia-based CSL Behring's Hemgenix, a similar treatment that won FDA approval for hemophilia B in 2022. The company is also developing a gene therapy for Duchenne muscular dystrophy, a genetic disorder that causes muscles to weaken gradually.
Persons: IX, hemophilia, Adam Cuker, Cuker Organizations: Drug Administration, Pfizer, U.S, Penn's, Spark Therapeutics, hemophilia Locations: U.S, Australia
A troubled veteran stalked a high-profile former F.B.I. official at her house in Washington last year — just weeks after the bureau determined he did not pose an imminent threat despite his documented obsession with guns and mass shootings, investigators said. lawyer, Lisa Page, who became a persistent target of President Donald J. Trump after her text messages became public in 2017, attended Mr. Perez’s hearing in the Superior Court of the District of Columbia. She asked the judge for more stringent restrictions and accused the bureau of failing to warn her of the possible threat posed by Mr. Perez. During one visit, he interacted with Ms. Page’s 11-year-old son.
Persons: , John C, Perez, Lisa Page, Donald J, Trump, Mr, Page’s Organizations: ex, Marine, District of Columbia, Metropolitan Police Department Locations: Washington, California, Superior
Madrid CNN —Spanish Prime Minister Pedro Sanchez announced Wednesday that he was cancelling his public duties until next week to “reflect” on whether to continue leading the government, just hours after a Spanish court said it had opened a probe against his wife. In the surprise move, Sanchez said on X that he would announce his decision on whether to remain as prime minister next Monday, in an appearance before the news media. Sanchez said “I need to stop and reflect” about “if I should continue leading the government” or step down. Sanchez, head of Spain’s Socialist Party, leads a coalition government with a narrow parliamentary majority. And a poll predicts the Socialist Party will also fare better than conservatives and the far right in regional elections in Catalonia next month around Barcelona.
Persons: Pedro Sanchez, Sanchez, Begoña Gomez, , Manos, ” Sanchez, Begoña Gomez “, Javier Maroto, Spain’s Organizations: Madrid CNN, Spanish, Wednesday, Madrid, Superior Court, Justice, Spain’s Socialist Party, Popular Party, Socialist Party, Vox Locations: Madrid, Basque, Catalonia, Barcelona
But it would clearly involve freezing the conflict, resigning Ukraine’s occupied territory to Russia in exchange for an end to the fighting. A small western neighbor of Ukraine, Moldova experienced Russia’s first post-Soviet war of aggression, which ended with a cease-fire agreement in 1992. The case shows that Russia simply cannot be trusted. Anyone calling for Ukraine to settle for one should heed Moldova’s cautionary tale. Russia stopped providing Moldova with gas, leaving people in cities to freeze in their apartments and cook their food outside on bonfires.
Persons: Pope Francis, Ukraine’s, Russia’s Organizations: Russian Locations: Ukraine, Russia, Moldova, Moldovan, Russian, Transnistria, Moscow
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