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This story is available exclusively to Business Insider subscribers. We found the firm has been spending on distressed real estate, such as its purchase of loans from the FDIC after the failure of Signature Bank, as well as investments in buzzy real estate, like data centers. In a January earnings call, Blackstone president Jonathan Gray announced that commercial real estate, which recently suffered its biggest price declines in half a century, could soon hit bottom. "While it will take time, we can see the pillars of a real estate recovery coming into place." Here are the 7 recent real estate and real-estate-adjacent deals that show how Blackstone is trying to get ahead of the CRE bottom in chronological order.
Persons: Jon Gray, Blackstone, Gray, Jonathan Gray Organizations: Business, Signature Bank
AdvertisementThe victims of a romance scammer who defrauded women he met on Tinder out of over $100,000 have spoken out about being targeted. Peter Gray, 35, from Yorkshire, UK, found his victims on Tinder and won their trust, BBC News reported. Romance scams have boomed since the onset of the pandemic, with Americans losing over $1.3 billion to the practice in 2022, up 164% from 2019, Business Insider previously reported. In the UK, over £92 million (about $115 million) was lost to romance scams in the same year, according to data from the National Fraud Intelligence Bureau. AdvertisementGray used information from driving licenses to scam Tinder dates"It was shocking," a sister of one of Gray's victims told BBC News.
Persons: Peter Gray, , Gray, Jessica, Hannah, Elizabeth, Tinder Organizations: Service, BBC News, Business, Federal Trade Commission, National Fraud Intelligence, BBC Locations: Yorkshire
She met Ted Gray, and on their first date, he took her on his plane. After Al died, I didn't date for a long timeA week after Al died, I was back full-time teaching. In 21 years, I had met no one, and suddenly I'd met this man, and I was frightened I might hurt him. When Al died, I never believed I could love like that again, but our love is wonderful. I love Ted just like I loved Al, and that blows me away.
Persons: Joy Gray's, Allan, Ted Gray, , Joy Gray, Al, it's, I'd, Rick, Ali, they'd, Ted, Farmer, Port Phillip Bay, we've, I've Organizations: Service, Port Locations: Porepunkah, Australia, Melbourne, Port Phillip, New Guinea
But increasingly, the algorithms that undergird our digital lives are making questionable decisions that enrich the powerful and wreck the lives of average people. There's no reason to be scared of AI making decisions for you in the future — computers have already been doing so for quite some time. As human control diminished, the real-world consequences of these algorithms have piled up: Instagram's algorithm has been linked to a mental-health crisis in teenage girls. AdvertisementAcross the public and private sectors, we've handed the keys to a spiderweb of algorithms built with little public insight into how they make their decisions. While generative AI is just the newest extension of the algorithm, it poses a unique threat.
Persons: who's, They've, Matthew Gray, Sergey Brin, Larry Page, It's, Elon Musk, Cambridge Analytica, algorithmically, ProPublica, Quora, OpenAI's ChatGPT, you've, they'll, superintelligence, — simulacrums Organizations: Knight Capital, Companies, Yahoo, Stanford, Google, Spotify, Netflix, Revenue, Facebook, Twitter, Elon, European Union, Associated Press, Black, Microsoft, Eating Disorders Association Locations: Cambridge
That's not to say predictions of a commercial real estate rebound are a sure bet. Here are four signs that support Gray's prediction that the commercial real estate market may be bottoming. (New York Community Bank had previously purchased $2.7 billion in Signature's loans and deposits, but not the real estate loans.) According to David Seifert, partner at private equity real estate firm Velocis, there are some sweet deals to be had in secondary sales of private-equity funds tied to real estate. The road aheadWhere Gray sees signs of bottoming, others think commercial real estate has much further to fall.
Persons: Warren Buffett, Buffett, Paul Getty, Getty, Steve Mnuchin —, Blackstone, Mnuchin, Donald Trump's, George Soros, John Paulson, It's, Jonathan Gray, Jim Garman, That's, Barry Sternlicht, Gray, Tracy Chen, Chen, BGO, secondaries There's, Ares, Brian King, King, David Seifert, Seifert, Velocis, Goldman Sachs, Dan McNamara, McNamara, Scott Rechler, wallop, Janet Yellen, Rechler, there's Organizations: Business, Goldman, Reuters, Starwood, Brandywine Global, Federal Reserve, . Bank, New York Community Bank, FDIC, Signature Bank, Community Bank, Fund Management, Community Preservation, New, Commercial Observer, Blackstone, Homes, Digital Realty, Polpo, RXR Locations: Blackstone, , New York, New York, BREIT, Real, Velocis
Gray Television is teaming up with other TV stations to launch a free, local-news streamer, and running Super Bowl ads starring John Stamos to get the word out. Perry's pitch to local stations is that Zeam removes the tech and ad barriers from the process of adapting to streaming. "It's a whole new way for stations to interact with their viewers and reach viewers in other markets," Perry said. At the same time, local TV ad revenue is shifting online. Digital is set to account for 10% of the $23.8 billion local TV ad pie in 2024, or $2.1 billion, per BIA Advisory Services .
Persons: John Stamos, Gray, Jack Perry, Zeam, what's, Perry, Kagan, Andrew Heyward, Syncbak, Perry wouldn't, Mike Braun, there's Organizations: Gray Television, National Association of Broadcasters, CBS, Hearst, Business, Services, CBS News, Netflix, VUit, Super Bowl, Google, Super, Sunday, Amazon, Apple Locations: Gray, Syncbak
Gray is drab and dreary. Gray lacks the warmth so many people desire. According to Amy Krane, architectural color consultant at Amy Krane Color , "People are leaning toward more colorful, complex color combinations now, which is one reason why the gray train has finally pulled out of the station." Interior designer and color expert Paula Kennedy of Timeless Kitchen Design LLC told BI the declining interest in gray may be due to an increased desire for warmer hues. Kennedy said gray's "many different undertones" can appear "drab and cold" and thinks the hue will continue to fall out of favor.
Persons: Gray, Amy Krane, Paula Kennedy, Kennedy, gray's
VANCOUVER, British Columbia (AP) — A Canadian fishing boat rescued an American man one day after the U.S. Coast Guard ended its search for a missing commercial fishing boat from Washington state with two people board, authorities said. U.S. Coast Guard Petty Officer Steve Strohmaier said the Canada-based Ocean Sunset spotted a covered life raft drifting in open ocean about 75 kilometers (46 miles) off the west coast of Vancouver Island on Thursday. Strohmaier said the Ocean Sunset's crew found the man conscious on the raft, which was from the Evening fishing boat based in Gray's Harbor, Washington. The man was taken to shore by the Canadian Coast Guard and was reported in stable condition. Strohmaier said Coast Guard officials hoped to speak with the survivor soon to determine whether to renew the search.
Persons: Steve Strohmaier, Strohmaier Organizations: British Columbia, U.S . Coast Guard, . Coast Guard, Canadian Coast Guard, Coast Guard Locations: VANCOUVER, British, Canadian, Washington, Canada, Vancouver, Gray's Harbor , Washington, U.S, Gray’s Harbor
NEW YORK (AP) — Chelsea Gray is out at least for Game 4 of the WNBA Finals after suffering an injury to her left foot Sunday. The Las Vegas Aces star guard was wearing a boot on her foot and had it propped up on a scooter she used to get into practice Tuesday. I'm waiting for more information, it's not good,” said Gray, who was going to wait until she got back to Las Vegas for further evaluation. Las Vegas also will be missing forward Kiah Stokes, who had a boot on her right foot. Political Cartoons View All 1211 ImagesGame 4 is Wednesday night in New York and Las Vegas leads the best-of-five series 2-1.
Persons: — Chelsea Gray, it's, , Gray, Kiah Stokes, ” Stokes, “ There's, ” Gray, couldn't, , Becky Hammon, Stokes, Sydney Colson, Cayla George, Candace Parker, Riquna Williams, hasn't, — Gray, A'ja Wilson, Jackie Young, Kelsey Plum, Dearica Hamby, Hamby, ” Hammon, ___ Organizations: WNBA, Las Vegas Aces, Las Vegas, Liberty, Aces, Sydney, Nevada Equal Rights Commission, Commission Locations: Las Vegas, Vegas, New York
Metropolitan Police/Handout via REUTERS Acquire Licensing RightsLONDON, Sept 22 (Reuters) - A British businessman at the centre of a money-laundering investigation was jailed on Friday for more than eight years for targeting two lawyers with fake bombs in the heart of London's legal district. Prosecutors said Nuttall orchestrated the plot with his driver Michael Sode, 59, and former soldier Michael Broddle, 47, who planted devices which were designed to look like genuine explosives. Broddle had previously conducted a six-month surveillance operation against Sutcliffe, Jeavons and their families, she said. Nuttall and Sode were both convicted of two counts of conspiracy to plant the devices and conspiracy to transfer criminal property, relating to payments made to Broddle. Broddle had previously pleaded guilty to two counts of conspiracy to plant the devices and two counts of possession of an explosive substance.
Persons: Jonathan Nuttall, Prosecutors, Nuttall, Michael Sode, Michael Broddle, Andrew Sutcliffe, Anne Jeavons, Broddle, Sutcliffe, Jeavons, , Catherine Farrelly, Sode, Bailey, Simon Mayo, Farrelly, Sam Tobin, Mark Heinrich Our Organizations: Metropolitan Police, Handout, REUTERS Acquire, Britain's, Crime Agency, NCA, Court, London's, Thomson Locations: Gray's, British, London, Bailey
Pirates RHP Mitch Keller shuts down Nationals
  + stars: | 2023-09-14 | by ( Field Level Media | ) www.reuters.com   time to read: +2 min
[1/20] Sep 14, 2023; Pittsburgh, Pennsylvania, USA; Pittsburgh Pirates starting pitcher Mitch Keller (23) delivers a pitch against the Washington Nationals during the first inning at PNC Park. It was a matchup of first-time All-Stars on the mound, and Keller and Gray pitched accordingly. Keller got the better of Gray, thanks to the two home runs, but the Nationals gave Keller a little test in the first. Keller retired 13 batters in a row before Meneses walked with one out in the seventh -- the only walk allowed by Keller. Gray struck out Peguero before being lifted for Jordan Weems, who got a strikeout and a groundout.
Persons: Mitch Keller, Charles LeClaire, Jack Suwinski, Alfonso Rivas, Mitch Keller's, Keller, David Bednar, Josiah Gray, Gray, CJ Abrams, Lane Thomas, Liover Peguero's, Keibert Ruiz flied, Abrams, Joey Meneses, Suwinski, Gray's, Rivas, Meneses, Dominic Smith, Luis Garcia, Joshua Palacios, Thomas, Jordan Weems Organizations: Pittsburgh Pirates, Washington Nationals, PNC, Pirates, Nationals, Washington, Pittsburgh, Thomson Locations: Pittsburgh , Pennsylvania, USA
A 16-year-old cyclist located his bike using an Apple AirTag. However, using an Apple AirTag, the son quickly found his bike in the Brussels Airport, where Gray hopped on a connecting flight. Still, he told CNN, there was no movement on finding the bike — until he decided to reach out to Brussels Airport. AdvertisementAdvertisement"I just needed someone to care, and finally found someone who did," Barnett told CNN. Brussels Airlines did not immediately respond to a request for comment from Insider.
Persons: Luke Barnett, Gray, Barnett, Ella Dollinschi, We've Organizations: Apple, Service, EF, Cycling team's, CNN, Europe —, Brussels Airport, — United, US Department of Transportation, That's, Brussels, Airport, United Airlines, Brussels Airlines Locations: Wall, Silicon, Europe, Brussels, Greenville , South Carolina, Greenville, Spartanburg, Vermont
Captain, a startup that aimed to quicken home repairs after natural disasters, is winding down. The Louisville-based company had previously raised $107 million across venture and debt equity. CartaMany early-stage startups such as Captain, which had raised $107 million across equity and debt capital, have struggled to raise new funding as a drought in venture capital spreads through Silicon Valley. Liabilities pile upThe company relies on debt financing to pay contractors upfront for materials, supplies, and labor costs. In his email, Gray said prospective buyers were aware of the outstanding liabilities and the sale price would be used to satisfy those liabilities, "with wages being the most paramount," he said.
Persons: Demetrius Gray, Gray, Captain, Red Swan, Pete Flint, Flint, PATRICK T, FALLON, Talent, Melia Russell, Rob Price Organizations: quicken, Carta, TechCrunch, GGV, fintech, Munich Re, San Francisco Superior Court Locations: The Louisville, Silicon Valley, Carta, Louisville , Kentucky, NFX, CoVenture, Munich, Maui
A partial view of the Lalibela town in the Amhara Region, Ethiopia, January 25, 2022. In that war, federal forces faced battle-hardened fighters loyal to Tigray's ruling party, who at one point advanced hundreds of kilometres towards the capital Addis Ababa. Following the Tigray deal, his government held preliminary talks with rebels in the Oromiya region, Ethiopia's largest, about ending a decades-long insurgency. But anger was building in Amhara, where the Tigray deal deepened existing suspicions of Abiy's government. It said the status of lands claimed by both Amhara and Tigray, which Amhara forces captured during the war, should be resolved "in accordance with the constitution".
Persons: Abiy, Tewodrose Tirfe, Temesgen, Ethiopia's, Fano, Addisu Lashitew, Befekadu Hailu, Aaron Ross, Angus MacSwan Organizations: REUTERS, Tiksa, Fano, Amhara Association of America, Brookings Institution, Protesters, Thomson Locations: Amhara Region, Ethiopia, NAIROBI, Tigray, Amhara, Fano, Africa, Eritrea, Sudan, Addis Ababa, Oromiya
Getting a job at private equity giant Blackstone is getting more competitive. In 2020, Insider spoke with president Jon Gray to learn how to stand out and land a job Blackstone. The billionaire that built Blackstone doubts he'd land a job at the private equity titan today. "Getting an entry-level job at Blackstone is 12 times harder than getting into Harvard. So how exactly do applicants dead-set on working for the firm land one of its highly-prized entry-level gigs?
Persons: Jon Gray, Blackstone, Stephen Schwarzman, That's, I'd, Schwarzman, , Gray, Blackstone's cofounders, Pete Peterson, couldn't, Here's Organizations: Blackstone, Morning, Wall Street, Harvard, University of Pennsylvania, Wall Locations: New York, Chicago
MEKELLE, Ethiopia, July 10 (Reuters) - Curled up on a hospital bed in Ethiopia's northern Tigray region, an emaciated little girl struggles to breathe, as her father softly strokes her gaunt face and her mother sits crying. Her doctor says she is dying, a new victim of an acute food shortage in a region blighted by two years of war and struggling with drought. [1/9]Woldegebrial Abadi, 36, holds the hands of his severely malnourished newborn son Berhanu Woldegebrial at the Samre Hospital, in Samre, Tigray Region, Ethiopia, June 23, 2023. REUTERS/Tiksa NegeriAid flows to Tigray resumed after the November ceasefire but were temporarily halted earlier this year. The Ethiopian government spokesperson did not respond to a Reuters request for comment on rising levels of hunger in the Tigray region or the resumption of aid flows to the area.
Persons: gaunt, Tsige Shishay, Teklay Hagos, Mekelle, Abadi, Berhanu Woldegebrial, Gebrehiwot, Getachew Reda, Gebremiskel, Woldesilassie Gebremedhin, gesturing, Giulia Paravicini, Estelle Shirbon, Edmund Blair Organizations: Reuters, Food Programme, Samre, REUTERS, Tiksa, WFP, U.S . Agency for International Development, USAID, Disaster Risk Management, Ethiopian, Twitter, Tiksa Negeri, Thomson Locations: MEKELLE, Ethiopia, Ethiopia's, Tigray, Tigray's, Samre, Tigray Region, Tiksa Negeri, Mekelle, Nairobi
NAIROBI, June 15 (Reuters) - Regional and federal government officials as well as Eritrean soldiers were involved in the theft of food aid in northern Ethiopia's Tigray region, the head of an investigation by the Tigrayan authorities said on Thursday. The U.N. World Food Programme and the U.S. Agency for International Development (USAID) paused food distribution last month in war-scarred Tigray because they said significant amounts of aid had been stolen. The two agencies then suspended food aid across all of Ethiopia last week for the same reason. An internal humanitarian memo said USAID believes food has been diverted to Ethiopian military units as part of a scheme orchestrated by federal and regional government entities. Ethiopia's army has denied its forces benefited from any stolen food aid.
Persons: General Fiseha Kidanu, Tigrai, Giulia Paravicini, Aaron Ross, Alex Richardson Organizations: Food, U.S . Agency for International Development, USAID, Ethiopian, WFP, Thomson Locations: NAIROBI, Ethiopia's Tigray, Tigray, Ethiopia
There has long been speculation that America's most-famous banker has plans to run for some sort of public office. The path from Wall Street to Washington is well worn, with plenty of high-profile executives taking up positions in the government. When most Wall Street executives were still afraid of the public cloud, she was ready to embrace it with open arms. Jon Gray — Treasury SecretaryBlackstone's president and chief operating officer has already had a brush with public office. The idea of him holding public office doesn't seem far-fetched.
Persons: Dan DeFrancesco, TikTok, I'm, we've, nabbing, Joe Biden's, Kevin McCarthy's, Jamie Dimon, Larry Downing, hasn't shied, Dimon, Dimon's, Bill Ackman, Kenneth Chenault —, Kathy Hochul, she's, Chenault, He's, Larry Fink —, We've, Larry, Fink, Adena Friedman, Friedman, Jon Gray —, Gray, Donald Trump, Gray's, Wall, Sen, Elizabeth Warren, Ken Griffin, Griffin, hasn't, Griffin hasn't, Ron DeSantis, he'll, Brian Moynihan —, Moynihan, Dan Schulman —, PayPal — he's, Taylor Swift, Kevin Mazur, Larry Fink, Franklin Templeton, It's, Rockefeller, Stephen Schwarzman, Warren Buffett, Cliff Asness, that's, Here's, Jeffrey Cane, Nathan Rennolds Organizations: JPMorgan, REUTERS, Bloomberg, American Express, Catalyst, Washington Post, BlackRock, SEC, CFTC, OCC, Nasdaq, Wall, Democrat, GOP, Florida Gov, Commerce, PayPal, Express, Virgin Mobile, Rockefeller Capital Management, Putnam Investments, Blackstone, Credit Suisse, UBS, Reuters, LinkedIn Locations: NYC, Washington, New York, Florida, Chicago, Miami, Ohio, Swiss, London
Summary WFP, USAID suspend aid distributionTigray government urges rethink, says to investigateNAIROBI, May 4 (Reuters) - The U.N. World Food Programme has paused food distribution in Ethiopia's war-ravaged Tigray region in response to reports that significant amounts of aid were being diverted, the agency said. Neither organisation gave details of the source of the reports and the WFP did not say who was responsible for the diversions or when they had taken place. He said he had set up a task force to investigate, calling the reported theft a crime against children, the elderly and the disabled. A spokesperson for Ethiopia's federal government did not immediately respond to a request for comment. The government and Tigray forces agreed to end hostilities in November, which has allowed additional aid to reach the region and for some services to be restored.
But for consumers, the lengthy spell in the crossfire of persistently high prices and rising interest rates has taken its toll. Inflation-adjusted consumer spending was flat in March, marking the fourth time in five months that expenditures held steady or declined. “Further deterioration in the job market — the last remaining leg propping up the consumer — is bound to accelerate the downshift in consumer spending in the coming months. Private label growth is one of six indicators that Allison tracks to determine a consumer recession. “If you ask the economists, ‘Are we in a recession?’ they’re going to say ‘No, we’re not in a recession,’” he said.
John Blake: The story about race I didn't know how to tell
  + stars: | 2023-05-02 | by ( John Blake | ) edition.cnn.com   time to read: +14 min
John Blake, seen here in a second-grade photo, grew up as the son of a White mother and Black father. What I didn’t know was that my community had died long before the Freddie Gray protests. That’s the story I wanted to tell, but I didn’t know how. I didn’t know how to tell Harlow any of that because my story doesn’t fit traditional narratives about race or identity. My white family members didn’t change because I shamed them with an impressive lecture on systemic racism.
MLB roundup: Astros drop Rays to 14-1 at home
  + stars: | 2023-04-26 | by ( ) www.reuters.com   time to read: +13 min
Andrew McCutchen hit a three-run homer, Ke'Bryan Hayes a two-run double and Carlos Santana and Austin Hedges an RBI single apiece for the Pirates. Texas built a six-run lead before Nick Senzel put Cincinnati on the scoreboard with an RBI single in the seventh inning. Ruiz's homer and Joey Meneses' RBI single in the third against Jose Butto (0-1) provided an early cushion for Gray. The Brewers got single runs in the third and fourth, then pulled within 4-3 when Rowdy Tellez opened the sixth with his eighth homer. With two outs during Chicago's four-run eighth, Gomes lined an RBI single to right field for his fifth career four-hit game.
Blackstone is in talks to help regional banks with lending
  + stars: | 2023-04-20 | by ( ) www.reuters.com   time to read: +4 min
NEW YORK, April 20 (Reuters) - Blackstone Inc (BX.N), the biggest manager of private equity and real estate assets, said on Thursday it was discussing partnerships with U.S. regional banks to help them with constraints in areas such as car loans and home improvement financing. "As regional banks experienced outflows of deposits, we are seeing real-time opportunities to partner with them at scale," Blackstone President Jonathan Gray said on the firm's first-quarter earnings call. "The regional banks generally play a very large role in home improvement loans, auto loans and equipment finance. He did not identify the banks Blackstone is speaking to. The firm has shifted its focus in real estate to resilient sectors such as logistics and rental housing.
Dozens of dead stingrays found on Brazil beach
  + stars: | 2023-04-11 | by ( ) www.reuters.com   time to read: +1 min
[1/4] A fisherman holds a dead stingray at Ilha do Fundao, on the banks of the Guanabara Bay, in Rio de Janeiro, Brazil April 11, 2023. REUTERS/Pilar OlivaresApril 11 (Reuters) - Dozens of dead stingrays appeared on a beach in Rio de Janeiro this week, sparking confusion and concern in the local community. A woman who lives in the fishing village said she noticed the incident shortly after dawn, prompting the arrival of vultures. We've never seen the death of stingrays like this here," said fisherman Renato dos Reis Oliveira. "This makes the hypothesis of trawling more evident in the cases of these stingrays," he said.
For example, Bask Bank — an FDIC-insured institution backed by Texas Capital Bank* — offers three account types with unique returns that outperform the national average. Besides their low initial deposit requirement, "Our CDs offer customers the ability to lock in your preferred interest rate," Gray said. Bask Bank offers CDs in term lengths of 6, 12, 18, and 24 months with APYs of up to 4.70% ***. "Buying a last-minute ticket can be really expensive, but often you can save money by using miles," Gray said. Bask Interest Savings Accounts Rates effective as of Friday, March 17, 2023:*** The Annual Percentage Yield is effective as of Monday, March 20, 2023.
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