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☆ Opinion | A TikTok Divestiture Is Long Overdue
▼ + stars: | 2024-04-29 | by ( Tim Wu | ) www.nytimes.com time to read: +2 min

China’s violations of human rights and the basic norms of internet freedom are blatant and obvious. This month, with little fanfare, the country ordered Apple to block downloads of WhatsApp, Threads and Signal within its borders. This new law, which gives TikTok roughly 270 days to find a new owner, is designed to change that. But more fundamentally, it sends a message to the world: You cannot disregard basic internet norms and expect to be treated just like any other country. Infrastructure is destiny, and on some level, the continuing struggle to control the internet is a struggle for the future of civilization.

Persons: —, Biden Organizations: Apple, Carlyle Group, General Atlantic, Susquehanna International Group Locations: United States, Beijing

☆ Vera Wang is turning 75 this year. She has no plans to retire.
▼ + stars: | 2024-04-15 | by ( Amanda Goh | ) www.businessinsider.com time to read: +4 min

That's what it's all about, really," Wang said. In May 2021, Wang told CNBC that her work has allowed her "to really have a very full life." "I think work has been my whole life and it's kept me honestly relevant, fascinated, passionate, frightened, worried and stressed," she said. Wang is part of a list of celebrities and CEOs who have been vocal about their decisions to continue working even as they get older. About one-third of Americans over 40 also say they would continue working even if they have no financial need, per a 2019 TD Ameritrade survey.

Persons: —, Vera Wang, Warren Buffett, Queen Elizabeth II, I'm, Wang, Ralph Lauren, it's, Jay Leno, Clint Eastwood, Eastwood, Buffett, Ron Olson, Greg Abel, Warren, Greg, Olson, Roy Cohen, BI's Jane Ridley Organizations: Service, Business, Vogue, Carlyle, CNBC, Independent, Fortune, Berkshire Hathaway, Pew Research, Workers Locations: New York City, Berkshire

☆ Minnesota Timberwolves sale to Alex Rodriguez and Marc Lore falls apart
▼ + stars: | 2024-03-28 | by ( Jessica Golden | ) www.cnbc.com time to read: +3 min

Co-owners Alex Rodriguez, right, and Marc Lore of the Minnesota Timberwolves during a game against the Los Angeles Lakers at Target Center Minneapolis, Minnesota, on Dec. 30, 2023. The National Basketball Association's Minnesota Timberwolves and the Women's National Basketball Association's Lynx are no longer for sale after a deal with former baseball great Alex Rodriguez and businessman Marc Lore fell apart, the teams' owner Glen Taylor said Thursday. In a statement to CNBC, Lore and Rodriguez said they are disappointed with Taylor's comments. However, those circumstances did not occur," Taylor's statement said. Some reports suggest that the relationship among Taylor, Lore and Rodriguez became strained since the original deal was made.

Persons: Alex Rodriguez, Marc Lore, Glen Taylor, Rodriguez, Marc, Alex, Taylor, Lore, Taylor's, Glen, Axios Organizations: Minnesota Timberwolves, Los Angeles Lakers, Target Center, Basketball Association's Minnesota Timberwolves, Women's, Basketball, Timberwolves, Lynx, CNBC, NBA, Carlyle Group, Western Conference Locations: Target Center Minneapolis , Minnesota

☆ With ‘Tommy’ Revival, Pete Townshend Is Talking to a New Generation
▼ + stars: | 2024-03-23 | by ( Rob Tannenbaum | ) www.nytimes.com time to read: +1 min

As he entered a suite at the Carlyle hotel in Manhattan, Pete Townshend mentioned that an afternoon meeting had been canceled. “So,” he added, “we have lots of time to talk.”Townshend is one of rock’s great singers, songwriters and guitarists, and he’s also among music’s pre-eminent talkers. In 1969, the Who released “Tommy,” a rock opera written mostly by Townshend, although the bassist John Entwistle contributed the songs “Cousin Kevin” and “Fiddle About,” and the drummer Keith Moon suggested the premise of “Tommy’s Holiday Camp.” Townshend expected the double album to fade quickly, in the way of most records. Instead, it took root in pop culture, and in short succession was adapted by a ballet group in Montreal, the Seattle Opera and the London Symphony Orchestra. Then, most memorably, it was a delirious 1975 film directed by Ken Russell.

Persons: Pete Townshend, ” Townshend, he’s, music’s, Tommy, Townshend, John Entwistle, Cousin Kevin ”, Keith Moon, Ken Russell Organizations: Carlyle, Seattle Opera, London Symphony Orchestra Locations: Manhattan, Montreal

☆ TikTok: Is it really Chinese?
▼ + stars: | 2024-03-18 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Is TikTok Chinese? In March 2023, CEO Chew was repeatedly pressed by US lawmakers on whether TikTok was Chinese. According to TikTok’s own website, its subsidiaries around the world are all structured under Bytedance Ltd.Is ByteDance Chinese? At last year’s congressional hearing, Chew didn’t directly answer any questions about whether ByteDance is a Chinese company either. That means the Chinese government now owns 1% of Beijing Douyin Information Service, which is the domestic Chinese unit of Bytedance.

Persons: TikTok, Shou Chew, Trump, Chew, Jose Luis Magana, Musical.ly, TikTok’s, ByteDance, Zhang Yiming, Liang Rubo, Zhang, Liang, Jinri, Chew didn’t, Shannon Stapleton, Zhang Fuping, Xi Jinping, Wu Shugang, Shu Yuting Organizations: Hong Kong CNN, TikTok LLC, TikTok Ltd, ByteDance Ltd, Bytedance Ltd, Tianjin’s Nankai University, ByteDance, Carlyle Group, General Atlantic, Susquehanna International Group, Reuters, Communist, Cyberspace Administration, Beijing Douyin Information Service, Chinese Communist Party, National Intelligence Law, Commerce Ministry Locations: China, Hong Kong, United States, Beijing, California, Los Angles, Singapore, Delaware, Culver City , California, Cayman Islands, Shanghai, Chinese, TikTok

☆ Hedge-fund titan Kyle Bass blamed Joe Biden for his $85 room-service breakfast. It didn't go well for him.
▼ + stars: | 2024-02-29 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewVeteran investor Kyle Bass is catching flak online after he blamed his $85 breakfast at a luxury five-star hotel on Joe Biden's inability to clamp down on inflation. "Terrible inflation milestone reached — my first $85 breakfast for one at a NYC hotel," Bass, who founded the private equity firm Conservation Equity Management and the hedge fund Hayman Capital Management, said on X Wednesday. Terrible Inflation milestone reached - My first $85 breakfast for one at a NYC hotel. "You ordered room service in a 5-star Manhattan hotel.

Persons: —, Kyle Bass, Joe Biden's, Bass, Biden, Janet Yellen, ove, 3% Organizations: Service, Conservation Equity Management, Hayman Capital Management, Business, Federal Reserve, Biden Locations: Ste

☆ Josh Brown on Carlyle Group: The company has the right person leading it
▼ + stars: | 2024-02-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJosh Brown on Carlyle Group: The company has the right person leading itJosh Brown, CEO at Ritholtz Wealth Management, joins CNBC's 'Halftime Report' to break down the Carlyle Group trade.

Persons: Josh Brown Organizations: Carlyle Group, Ritholtz Wealth Management

☆ A soft landing is now likely. But Americans will still deal with unaffordable housing
▼ + stars: | 2024-02-04 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

In a letter days before the Fed’s decision Wednesday to hold interest rates steady at a 23-year high, Democratic US senators blasted the central bank for America’s housing woes. In 2021 when the Fed’s key interest rate was near zero, home-price growth soared at a historic double-digit pace, according to the S&P CoreLogic Case-Shiller National Home Price Index. Divounguy said that the average 30-year fixed mortgage rate will likely not fall below 6% this year. That way we can actually start heading in the right direction with affordability and have that be sustainable and not just a short-term interest rate phenomenon,” she said. Richmond Fed President Thomas Barkin delivers remarks.

Persons: Valerie Plesch, Orphe Divounguy, Freddie Mac, it’s, Fannie Mae, Divounguy, ” Daryl Fairweather, Trump, Jerome Powell, Donald Trump, Powell, David Goldman, Alexandra Ross, ” Trump, Maria Bartiromo, Joe Biden, Estee Lauder, Tyson, Raphael Bostic, Eli Lilly, Loretta Mester, Walt Disney, Adriana Kugler, Thomas Barkin, Michelle Bowman, Ralph Lauren, Armour Organizations: CNN Business, Bell, DC CNN, Federal Reserve, Democratic, Eccles Federal Reserve, Bloomberg, Getty, CNN, National Association of Realtors, Fox Business, Bureau of Labor Statistics, Trump, Fed, Caterpillar, Tyson Foods, P Global, Institute for Supply Management, Atlanta Fed, Toyota, UBS AG, Chipotle, Cleveland Fed, Walt, CVS, PayPal, Brands, Fox, The Carlyle, News Corporation, New York Times Company, Mattel, Spirit Airlines, US Commerce Department, China’s National Bureau of Statistics, ConocoPhillips, Unilever, Duke Energy, Expedia, Warner Music Group, Tenet Healthcare, Richmond Fed, Pepsico, Honda Locations: Washington, Washington , DC, CAVA

☆ Carlyle billionaire David Rubenstein is buying MLB's Baltimore Orioles: reports
▼ + stars: | 2024-01-31 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Carlyle Group cofounder David Rubenstein is fronting a group buying the Baltimore Orioles, reports say. Fellow private equity billionaire Michael Arougheti is also expected to be involved in the deal. AdvertisementFamed private equity investor David Rubenstein is reportedly planning to buy the Baltimore Orioles. Puck broke the news Tuesday that the Carlyle Group cofounder and Baltimore native is fronting a group expected to take a 40% stake in the Major League Baseball franchise. AdvertisementThe Orioles are owned by the Angelos family, who bought the MLB franchise in 1993.

Persons: David Rubenstein, Angelos, Puck, Michael Arougheti, —, Cal Ripken, Jr, Rubenstein, he'll, Peter Angelos, John, Carlyle, Josh Harris Organizations: Carlyle, Baltimore Orioles, Major League Baseball, Service, Carlyle Group, Baltimore, Ares Management, Orioles, MLB, Financial, National Basketball Association, Apollo Global, National Football League's

☆ Beautycounter’s founder sold the $1 billion business and lost her job—now she’s back as CEO: 'Failure is not an option'
▼ + stars: | 2024-01-31 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +4 min

Gregg Renfrew built a billion-dollar brand, only to end up on the outside looking in after investors brought in a replacement CEO. Renfrew, 55, founded clean beauty brand Beautycounter in 2011 with the mission of disrupting the cosmetics industry by only selling products made without "questionable or harmful chemicals." Along the way, Renfrew and Beautycounter raised more than $93 million from investors, according to Crunchbase. Renfrew: It was really, really difficult. I sold the business right before the world opened up with Covid and so much was changing and swirling around.

Persons: Gregg Renfrew, Beautycounter, Carlyle, Renfrew, Marc Rey, Martha Stewart, Rey, burnishing, Renfrew's, Carlyle Roberto Marques, it's, It's, you've Organizations: CNBC, Ulta, Carlyle Group Locations: Renfrew, New York, Denver, U.S, Washington

☆ Baltimore Orioles agree to be sold to a group led by David Rubenstein for $1.7 billion
▼ + stars: | 2024-01-30 | by ( Matt Egan | David Goldman | ) edition.cnn.com time to read: +2 min

The Orioles have been mediocre — or straight-up awful — throughout most of Angelos’ ownership. The new owner, Rubenstein, is a Baltimore native and co-founder of The Carlyle Group, a Washington, DC-based private equity giant. If the sale is approved, Rubenstein will become the controlling partner in the ownership group, the key decision-maker. After the 94-year-old Angelos dies, the Rubenstein group will own all 100% of the club. The Orioles’ $1.7 billion valuation is nearly triple what the team was worth in 2014, according to Forbes.

Persons: Peter Angelos, David Rubenstein, Angelos, Hall, Cal Ripken, Jr, Rubenstein, Angelos ’, Michael Arougheti Organizations: CNN, Baltimore Orioles, Orioles, Major League Baseball, Baltimore, Hall of Famer, American League East, AL, The Carlyle Group, longtime Orioles, Ripken, Ares Management, Forbes, Milwaukee Brewers, Colorado Rockies Locations: Baltimore, Washington, DC

☆ McDonald's raises China bet, bucking Western firms' derisking trend
▼ + stars: | 2023-12-04 | by ( Casey Hall | Thomson Reuters | Casey Has Reported On China'S Consumer Culture Her Base In Shanghai For More Than A Decade | ) www.reuters.com time to read: +4 min

[1/5] A woman sits on a swing attached to a giant sign of McDonald's, outside its themed exhibition in Beijing, China December 4, 2023. One advantage for McDonald’s: its majority partner in the China business, CITIC, provides top-level political cover, said Jason Yu, greater China managing director of market research firm Kantar Worldpanel. McDonald's China, Carlyle Group and CITIC declined to comment. Other consumer-facing U.S. firms, including Starbucks (SBUX.O), Apple (AAPL.O), Coach owner Tapestry (TPR.N) and sportswear giant Nike (NKE.N), have remained similarly dedicated to the China market. Although the McDonald's China menu would be familiar to U.S. consumers, there are nods to local tastes, including taro pie, rather than apple.

Persons: Tingshu Wang, McDonald's, Jason Yu, Kantar, Yu, Carlyle, Wallace, Greg, Euromonitor, Ben Cavender, Casey, Kane Wu, Deborah Sophia, Gerry Doyle Organizations: REUTERS, Rights, Group, Carlyle Group, Starbucks, Apple, Nike, Research, Investment, China Market Research, Casey Hall, Thomson Locations: Beijing, China, U.S, Hong Kong, Macau, Yum China, Russia, Shanghai, Bengaluru

☆ Biden shares pies for Thanksgiving, expresses hope about hostage release
▼ + stars: | 2023-11-23 | by ( Jeff Mason | Thomson Reuters | Jeff Mason Is A White House Correspondent For Reuters. He Has Covered The Presidencies Of Barack Obama | ) www.reuters.com time to read: +2 min

[1/3] U.S. President Joe Biden greets Nantucket Fire Department Chief Cranson alongside First Lady Jill Biden, at the Nantucket Fire Department in Nantucket, Massachusetts, U.S, November 23, 2023. REUTERS/Tom Brenner Acquire Licensing RightsNANTUCKET, Mass., Nov 23 (Reuters) - President Joe Biden delivered pumpkin pies to firefighters on Thursday to celebrate the U.S. Thanksgiving holiday and expressed hope about a pending hostage release in the war between Israel and the Palestinian Islamist group Hamas. Biden, who is vacationing with his family on the Massachusetts island of Nantucket, has spent part of his time here speaking to foreign leaders about the war. Biden has a decades-long family tradition of coming to Nantucket for the Thanksgiving holiday. In earlier remarks on NBC, Biden urged people to focus on solving problems together and stopping rancor in U.S. society.

Persons: Joe Biden, Cranson, Lady Jill Biden, Tom Brenner, Biden, Jill Biden, David Rubenstein, ", Donald Trump, Evan Gershkovich, Paul Whelan, Jeff Mason, Jonathan Oatis Organizations: Nantucket Fire Department, REUTERS, Rights, U.S, Hamas, NBC, Democrat, Republican, Thomson Locations: Nantucket, Nantucket , Massachusetts, U.S, Rights NANTUCKET, Israel, Palestinian, Massachusetts, Qatar, Russia

☆ A Biden Thanksgiving: Sweeping Views of Nantucket Harbor, Calls About Israel
▼ + stars: | 2023-11-22 | by ( Lisa Friedman | ) www.nytimes.com time to read: +1 min

Mr. Biden and Jill Biden, the first lady, arrived on the exclusive island off the coast of Massachusetts late Tuesday for their traditional Thanksgiving week visit. The home of Mr. Rubenstein, a co-founder of the Carlyle Group, a private equity firm, is on 13 acres of beachfront property with sweeping views of Nantucket Harbor. Many locals also pointed out that Mr. Biden has been coming to the island for some 40 years, and that this is his third visit as president. OK, cool,’” said Suzanne Bennett, who manages Nantucket Bookworks, a local bookshop where Mr. Biden has popped in on previous walks in town. Ms. Bennett said she hadn’t done much of anything to prepare for this year’s likely Biden family visit, and described the morning routine as business as usual.

Persons: Biden, Mr, Jill Biden, David Rubenstein, Rubenstein, They’re, ”, Suzanne Bennett, Bennett Organizations: Carlyle Group, Secret Service, White House Locations: blustery, Nantucket, Massachusetts, Nantucket Harbor

☆ Stocks week ahead: Here’s how America’s economy could begin to weaken
▼ + stars: | 2023-11-05 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

The job market or spending? The spending argument: But there have been instances in which spending weakened before the job market. “I think it starts with the perception of the labor market,” Drew Matus, chief market strategist at MetLife Investment Management, told CNN. The ticket-industry giant said it has sold a record 140 million tickets so far this year, up 17% year-over-year and has already surpassed the 121 million tickets sold in all of 2022. In the third quarter, Ticketmaster sales surged 57% to $833 million and 90 million fee-bearing tickets were sold in the period.

Persons: can’t, ” Shannon Seery, “ It’s, ” Seery, Luke Tilley, ” Tilley, Jerome Powell, ” Drew Matus, ”, Taylor Swift, Parija Kavilanz, Swifties, Taylor, Michael Rapino, Beyoncé, Harry Styles, Bunny, Jonas Brothers, Bruce Springsteen, Lisa Cook, Michael Barr, Jeffrey Schmid, Christopher Waller, John Williams, Lorie Logan, Ralph Lauren, Steve Madden, Phillip Jefferson, Raphael Bostic, Tom Barkin, Christine Lagarde Organizations: CNN Business, Bell, DC CNN, CNN, Employers, Investment Advisors, Companies, National Bureau of Economic Research, CNN Wednesday, Federal, MetLife Investment Management, Ticketmaster, Ryanair, Goodyear, Fed, Reserve Bank of Australia, Uber, Occidental Petroleum, KKR, The Carlyle Group, US Commerce Department, Biogen, Warner Bros, Teva Pharma, The New York Times Company, Armour, SeaWorld, MGM Resorts, China’s National Bureau of Statistics, Sony Group, Astrazeneca, Tapestry, News Corp, US Labor Department, Soho House, National Statistics, European Central Bank, University of Michigan Locations: Washington, Wells, Wilmington, Lyft, Brookfield, Soho

☆ Why Carlyle is making big private credit investments in Hollywood companies like New Regency and 'South Park' creators' Park County
▼ + stars: | 2023-10-19 | by ( Reed Alexander | ) www.businessinsider.com time to read: +6 min

The investment speaks to Carlyle's underlying thesis in this space, said the managing director, Ben Fund, who sits on the Carlyle Credit Opportunities team. "It is amazing how much people love some of this high-quality content," Fund told Insider, speaking about famous sitcoms or films from recent decades. Streamers also need unique original titles to lure subscribers, but "it's a lot more expensive and risky to create new content than it is to license content," Fund said. Finding strategies to support Hollywood through volatile timesCarlyle's big moves come as private asset managers step up their lending game in Hollywood. For Carlyle, Fund said, this creates opportunity — and he added that such companies often have "real pride" and a "real legacy" to uphold.

Persons: Carlyle, Smith, Ben Fund, Trey Parker, Matt Stone, Arnon Milchan, Yariv, Austin Butler, Jodie Comer, Michael Shannon, it's, we're, hasn't Organizations: Washington DC, New Regency, New, Carlyle Credit, Bloomberg, Hollywood, Fund, Netflix, Content Partners, ICM Partners, CAA Locations: New, Carlyle, Park County, California, Hollywood

☆ Premarket stocks: How billion-dollar fines are reshaping digital communications in banking
▼ + stars: | 2023-10-19 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

A version of this story first appeared in CNN Business’ Before the Bell newsletter. HSBC is blocking staff from texting on their work phones, a person familiar with the matter confirmed to CNN. What’s happening: Banks must follow strict compliance rules for how they use and store their employees’ texts and other business communications. “Banks use a wide range of approved channels to communicate in compliance with regulatory obligations,” a company spokesperson told CNN. Tesla reported adjusted earnings of $2.3 billion in the quarter, or 66 cents a share, down 37% from a year earlier and the smallest profits it reported in two years.

Persons: Banks, ”, ” Sanjay Wadhwa, Tesla, Chris Isidore, Refinitiv, Dan Ives, “ Price, Elon Musk, “, ’, Craig Jelinek, Ron Vachris, Jelinek Organizations: CNN Business, Bell, New York CNN, HSBC, CNN, Bloomberg, Securities and Exchange Commission, SEC, Commodity Futures Trading Commission, “ HSBC, Carlyle Group, Blackstone, Bank of America, Citigroup, Wedbush Securities, Costco, Sam’s Club, Walmart Locations: New York, London, Wells Fargo, WhatsApp, United States

☆ Brooke Shields Dishes Trump and Madonna in a New Cabaret Show
▼ + stars: | 2023-09-19 | by ( Jacob Bernstein | More About Jacob Bernstein | ) www.nytimes.com time to read: +1 min

“Most of the time, I’m halfway content.”Those words are Bob Dylan’s, and they were delivered one night last week by Brooke Shields during her sold-out debut show at the Café Carlyle, the intimate Manhattan supper club where Bobby Short, Elaine Stritch and Debbie Harry have performed. It was five months after Ms. Shields had returned to the spotlight with “Pretty Baby: Brooke Shields,” an acclaimed documentary that chronicled the ups and downs of a career that got its start in the 1970s, when she was a child model and actress marketed as a sex symbol. A number of celebrities came out to see her at the venue, which is blocks away from the Upper East Side apartment where she grew up. At a table close to the stage were the actors Naomi Watts, Billy Crudup and Laura Dern. Nearby sat Mariska Hargitay, whom Ms. Shields has worked with on “Law & Order: SVU.” The crowd also included two men who had done cabaret at the Carlyle: Isaac Mizrahi, who designed the loosefitting orange dress Ms. Shields was wearing, and Alan Cumming.

Persons: Bob Dylan’s, Brooke Shields, Carlyle, Bobby Short, Elaine Stritch, Debbie Harry, Shields, ”, Naomi Watts, Billy Crudup, Laura Dern, Mariska Hargitay, Isaac Mizrahi, Alan Cumming Organizations: “ Locations: Mariska

☆ Trump says he'll impose huge new tariffs if elected in 2024
▼ + stars: | 2023-08-22 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Former President Donald Trump is proposing a universal baseline tariff for imports into the US. He also told Fox News he'd implement a "matching tax" on certain countries. He also proposed a "matching tax" on certain countries that would be equivalent to high tariffs on US products. While Trump laid out the idea of a universal tariff months earlier, he appeared to get more specific last week. In February, Trump floated the universal tariff idea as he began laying out an economic agenda for his campaign platform.

Persons: Donald Trump, Donald Trump's, Trump, James Stavridis, Biden Organizations: Fox News, Service, Republican, Washington Post, Trump, Carlyle Group, White, National Manufacturing Initiative, Fox Locations: Wall, Silicon, United States, China

☆ The Brooklyn landlord everyone hates could soon come to your neighborhood. Tenants warn these private equity groups are raising rent and ignoring maintenance issues.
▼ + stars: | 2023-08-16 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

Private equity firms have bought up hundreds of smaller apartment buildings in trendy New York neighborhoods. Private equity firms own a very small, but growing, fraction of American real estate. Some argue that private equity, hedge funds, and other institutional investors are a convenient target and are being unfairly blamed for the nation's worsening housing affordability crisis. The recent increase in private equity purchases, particularly of single-family homes, has drawn scrutiny, including from Congress, over the last few years. Democrats also couldn't reach agreement on measures that would have boosted tenant protections, including rent stabilization and eviction protections.

Persons: Kathy Hochul's, Hochul Organizations: Service, Carlyle Group, The New York Times, Conway Capital, Peak Capital Advisors, Times, Institutional, New York Gov, Democrats Locations: New York, Brooklyn, Wall, Silicon, gentrifying, Queens, Bushwick, Bedford, Stuyvesant, Williamsburg, Ridgewood , Queens, York City, Brooklyn's Gowanus

☆ Carlyle Group stake purchase values Quest Global at $2 bln, sources say
▼ + stars: | 2023-08-08 | by ( Kane Wu | ) www.reuters.com time to read: +2 min

Quest Global investors Bain Capital and Advent International will exit in the transaction, while Quest Global will repurchase its own shares, Carlyle said in a statement. Ajit Prabhu, chairman and CEO of Quest Global, will acquire an additional stake, Carlyle said. Representatives for Bain Capital, Advent and Quest Global declined to comment on Quest Global's valuation in the deal. Established more than 25 years ago, Quest Global focuses on engineering, research and development services for the design, product development and operations of complex engineering systems. In 2016, Bain Capital and Advent, together with Singapore sovereign wealth fund GIC Pte Ltd (GIC.UL), jointly bought a minority stake in Quest Global for $350 million.

Persons: Carlyle, Issei Kato, HONG KONG, Ajit Prabhu, GIC, Kane Wu, Yantoultra Ngui, Jason Neely, Mark Potter Organizations: REUTERS, Carlyle Group, Quest Global Services, Global, Quest Global, Bain Capital, Advent, Quest, Thomson Locations: Tokyo, Japan, HONG, Singapore, Asia, Hong Kong

☆ Carlyle reports lower than expected 26% slump in Q2 earnings
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Issei Kato/File photoNEW YORK, Aug 2 (Reuters) - Private equity firm Carlyle Group Inc (CG.O) reported on Wednesday that its second quarter distributable earnings fell 26% year-on-year due to a slump in asset sales, although the result still exceeded analyst expectations. Distributable earnings, which represents the cash used to pay dividends to shareholders, fell to $388.8 million from $528.8 million a year earlier. That translated to after-tax distributable earnings per share of 88 cents, which surpassed the average estimate of 67 cents, according to Refinitiv data. Carlyle's corporate private equity and real estate funds gained 1% during the quarter, while its credit funds appreciated by 2%. By contrast, Blackstone's corporate private equity funds appreciated by 3.5% and its private credit funds rose 3.3%, while opportunistic real estate funds were flat.

Persons: Carlyle, Issei Kato, Chibuike Oguh, Jamie Freed Organizations: REUTERS, Carlyle Group Inc, Blackstone Inc, Thomson Locations: Tokyo, Japan, New York

☆ David Rubenstein says there's only one solution to US debt: inflation
▼ + stars: | 2023-07-20 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The US won't cut spending, raise taxes much, seek a bailout, or default on its debt, David Rubenstein said. "We aren't going to cut expenses in the government. We aren't going to go to a bailout with the IMF, that's not realistic. As a solution, Rubenstein encouraged young people to get more involved in leadership positions, whether in politics or the corporate world. "I think that their concerns are not reflected very often in board meetings, corporate boards or foundation boards, nonprofit boards and so forth," he said.

Persons: David Rubenstein, Rubenstein, that's, we're, Carlyle Group's Organizations: Bloomberg, Service, IMF, Federal Reserve Locations: Wall, Silicon

☆ How 'Birkin Bandit' George Mickum Infiltrated NYC Society
▼ + stars: | 2023-07-12 | by ( Kate Taylor | Anna Silman | ) www.businessinsider.com time to read: +52 min

"He would know people's weaknesses and what they wanted and somehow always have something to offer," a former close friend said. Another close friend said Mickum once gave her a $1,000 loan "within minutes" when she needed it because of a credit-card crisis. He never "let the truth get in the way of a good story," a former close friend said. Hermès bags, like the Birkin and the Kelly, have always been symbols of unattainable luxury. There wasn't even a dust bag; Mickum claimed his mom's assistant would drop it off later.

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☆ David Rubenstein on China: Unrealistic to think you can 'decouple' the economic relationship
▼ + stars: | 2023-06-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDavid Rubenstein on China: Unrealistic to think you can 'decouple' the economic relationshipDavid Rubenstein, The Carlyle Group co-founder and co-chairman, joins 'Squawk Box' to discuss the Fed's rate hike campaign, commercial real estate, U.S.-China relations, and more.

Persons: David Rubenstein Organizations: The Carlyle Group Locations: China, U.S

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