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☆ Carlyle weighs options for 'RuneScape' creator Jagex, sources say
▼ + stars: | 2023-09-07 | by ( Amy-Jo Crowley | ) www.reuters.com time to read: +1 min

LONDON, Sept 7 (Reuters) - Carlyle (CG.O) is weighing options for its UK video games maker Jagex, a business which could be valued as high as 1 billion pounds ($1.25 billion), two people familiar with the matter told Reuters. The sources cautioned a deal is not certain and subject to market conditions, asking not to be identified because the matter is confidential. Jagex, Morgan Stanley and Aream did not immediately return requests for comment. Carlyle, which has $376 billion under management, bought Jagex from the U.S. holding firm Macarthur Fortune Holding in January 2021 for a reported $530 million. It could fetch up to 15x EBITDA, or between 900 million pounds and 1 billion pounds, in the event of a sale, they added.

Persons: Carlyle, Morgan Stanley, Jagex, Aream, Amy, Jo Crowley, Sharon Singleton Organizations: Reuters, The U.S, Aream, Macarthur Fortune Holding, Financial Times, Thomson Locations: Cambridge

NEW YORK, Sept 7 (Reuters) - Broadcast services provider NEP Group Inc, owned by private equity firm Carlyle Group Inc (CG.O), is exploring a sale of its live events business that could fetch nearly $2 billion, according to people familiar with the matter. The live events unit provides audiovisual solutions at concerts, corporate events, and music tours. NEP operates another events business that focuses on online and television broadcast services, which the sources said it plans to keep. The unit offers production services that enable the broadcasting of live sports, festivals and other events. NEP also offers outdoor broadcast services, studio production, audio and lighting solutions, and media management services.

Persons: Carlyle, Milana Vinn, Anirban Sen, Gerry Doyle Organizations: Inc, Carlyle Group Inc, National Football League, Crestview Partners, Thomson Locations: Pittsburg , Pennsylvania, New York

Spectrum is the second largest U.S. cable provider, serving 14.7 million homes across large markets such as New York and Los Angeles. Shares of Disney dropped 2.65% to a three-year low while Charter lost 3.4%. Warner Brothers Discovery Inc (WBD.O) fell 10%, Fox Corp (FOXA.O) shed 6%, Paramount Global (PARA.O) dropped 8%, while Comcast Corp (CMCSA.O), the largest U.S. cable provider, was down nearly 3%. Charter said Disney rejected its proposal for a new distribution deal that takes into account the rise of competing low-cost streaming services, which has fueled cord-cutting among its customers. The cable provider said it pays Disney $2.2 billion in annual programming costs, excluding advertising.

Persons: Brendan McDermid, Hogan, Disney, Dennis Dick, Chibuike Oguh, Amruta Khandeka, Khushi Singh, Michelle Price, Richard Chang Organizations: Walt Disney Company, New York Stock Exchange, REUTERS, Fox Corp, Warner Brothers Discovery Inc, Disney, Charter Communications, ESPN, ABC, Hollywood, Charter, Paramount Global, Comcast Corp, U.S, Riley, Triple D, Thomson Locations: New York, U.S, Los Angeles, Hollywood, Bengaluru

☆ UK's Lloyds in talks with Barclay family, Carlyle over Very Group - FT
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsSept 1 (Reuters) - Britain's Lloyds Banking Group (LLOY.L) is in talks with the Barclay family and U.S. private equity firm Carlyle (CG.O) over Very Group, an online retailer and financial services provider, the Financial Times reported on Friday. "The Very Group continues to perform well and is operating as normal with robust liquidity," a Very Group spokesperson said in an e-mail. Lloyds and Carlyle did not immediately respond to Reuters' requests for comment. The Barclay family could not be immediately reached. Reporting by Pushkala Aripaka and Saikeerthi in Bengaluru; Editing by Shailesh Kuber and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Barclay, Carlyle, Pushkala Aripaka, Shailesh Kuber, Maju Samuel Organizations: Lloyds Bank, REUTERS, Lloyds Banking Group, Financial Times, Telegraph, Lloyds, Thomson Locations: Saikeerthi, Bengaluru

CrowdStrike shares rose as much as 10.2% to $164.41 on Thursday and was last trading at $162, up 8.59%. Okta's shares rose 17.6% to $86.50, their highest level since May. Other cybersecurity firms were also trading higher, buoyed by CrowdStrike and Okta. Multiple analysts raised their price target for the shares of CrowdStrike and Okta in reaction to the news. Austin, Texas-based CrowdStrike delivers cloud-based cybersecurity protection through its Falcon platform that is used by many large U.S. companies.

Persons: Dado Ruvic, CrowdStrike, Okta, Chibuike Oguh, Lance Tupper, Mark Porter Organizations: REUTERS, CrowdStrike Holdings, Okta Inc, Wall, Zscaler Inc, Nasdaq, Palo Alto Networks, Thomson Locations: CrowdStrike, Austin , Texas, U.S, San Francisco, New York

A vehicle drives on a flooded road after the arrival of Hurricane Idalia, in Cedar Key, Florida, U.S., August 30, 2023. Hurricane Idalia plowed into Florida's Gulf Coast with fierce winds, torrential rains and pounding surf before weakening but turning its fury on southeastern Georgia, where floodwaters trapped some residents in their homes. At about $10 billion, Idalia would cost insurers less than 10 of the costliest hurricanes to hit the United States. Higher reinsurance rates can affect the premiums that insurers charge their customers. FLORIDA PAINFlorida has a large number of very small, thinly capitalized insurers, insurance experts have said.

Persons: Hurricane Idalia, Julio Cesar Chavez, Thomas Hayes, Gallagher Re, Michael Peltier, Berkshire Hathaway, Ajit Jain, Noor Zainab Hussain, Manya, Chibuike Oguh, Jon Stempel, Devika Syamnath, Megan Davies, Cynthia Osterman Organizations: REUTERS, Hurricane, UBS, Global, Great, Great Hill Capital, Farmers Insurance, Bankers Insurance, Lexington Insurance, AIG, Farmers, Florida Office, Insurance, Bankers, Property Insurance Corp, Property Insurance, Berkshire, Manya Saini, Thomson Locations: Cedar Key , Florida, U.S, Florida, Coast, Georgia, United States, Ukraine, California, Great Hill, New York, FLORIDA, USA, Lexington, Berkshire, Bengaluru, Chibuike

Major League Baseball was the first to open its coffers to private-investment funds in 2019; a slew of other leagues followed, including the National Basketball Association, Major League Soccer and the National Hockey League. A big participant in that is Sixth Street Partners, a $74 billion behemoth, known historically for its direct lending and growth prowess, and has been making big inroads in the sports world in recent years, with several billion dollars' worth of investments. The firm recently co-founded Bay FC, part of the National Women's Soccer League, alongside several retired players, as well as Sheryl Sandberg. Sixth Street also made investments in FC Barcelona's LaLiga TV broadcasting rights and a majority investment in Legends, a sports and entertainment experiences company. In June 2021, Sixth Street led a strategic investment with Michael Dell in the San Antonio Spurs basketball team.

Persons: Carlyle, David Rubenstein, Sheryl Sandberg, Michael Dell, Alan Waxman, what's, it's, Waxman Organizations: Alpha, CNBC, Major League Baseball, National Basketball Association, Major League Soccer, National Hockey League, Sixth Street Partners, Bay FC, National Women's Soccer League, Sixth, FC Barcelona's LaLiga, San Antonio Spurs basketball, Spanish soccer, Real Madrid Locations: U.S, Spanish

☆ Europe's Gabon-exposed stocks slide after military coup
▼ + stars: | 2023-08-30 | by ( Danilo Masoni | ) www.reuters.com time to read: +2 min

MILAN, Aug 30 (Reuters) - Shares in European oil producers, miners and other companies with large exposures to Gabon plummeted on Wednesday after a military coup raised concerns over their operations in the resource-rich African country. "Shares are reacting to concerns over the backdrop in Gabon," said Investec equity analyst Alex Smith in London. However, Assala Energy, which current owner Carlyle (CG.O) has agreed to sell to Maurel, said its oil production in Gabon was unaffected. "Note Gabon production represents around 20% of group production. Oslo-listed Panoro Energy (PENR.OL) and BW Energy (BWE.OL) were down 5% and 7%, respectively, and U.S.-based Vaalco Energy (EGY.N) fell 13.8%.

Persons: Maurel, Eramet, Alex Smith, Ali Bongo, Carlyle, Investec's Smith, Danilo Masoni, Alun John, Kirsten Donovan Organizations: MILAN, Military, REUTERS, Staff, Rights, Assala Energy, Energy, BW Energy, Vaalco Energy, Thomson Locations: Gabon, London, France, Frankfurt, Germany, Gabonese, Mouila, OPEC, Oslo, U.S, Gabon's

☆ ChatGPT is becoming a certified cash cow with OpenAI on course to generate $1 billion in annual sales, report says
▼ + stars: | 2023-08-30 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

ChatGPT is set to become a $1 billion sales cash cow for OpenAI. The Information cited a source saying OpenAI will soon hit $1 billion in annual sales. It's a sign that AI tools like ChatGPT can be lucrative as businesses drive demand. AdvertisementAdvertisementOpenAI's prized possession ChatGPT is helping propel the company towards $1 billion in annual revenue as the boom in AI demand from businesses drives a sales bonanza, according to a new report. Developers using the AI model at the heart of ChatGPT say it's getting dumber.

Persons: OpenAI, Carlyle, Similarweb, ChatGPT, hoover Organizations: Morning, Microsoft, Enterprise, ChatGPT, Amazon, The New York Times

☆ Trustar plans to raise fund to manage McDonald’s China stake -sources
▼ + stars: | 2023-08-28 | by ( Kane Wu | ) www.reuters.com time to read: +3 min

HONG KONG, Aug 28 (Reuters) - Chinese private equity firm Trustar Capital is planning to raise a so-called continuation fund that would allow it to sell down its stake in McDonald's China, two sources with knowledge of the matter said. That plan would be achieved by Trustar, formerly known as CITIC Capital, transferring some equity interest in McDonald's China from its private equity (PE) fund into the continuation fund, a new investment vehicle that would manage the asset. Currently, Trustar owns 42% of the business, while Carlyle and CITIC own 28% and 10% respectively, according to McDonald's China. Carlyle has also been considering options for its stake in McDonald's China, including setting up a continuation fund, Reuters has reported. "McDonald's China will continue to leverage the capital and other resources from CITIC (Trustar), Carlyle, and McDonald's Corp to achieve the future milestone of 10,000 stores," said McDonald's China.

Persons: Trustar, Mubadala, Carlyle, CITIC, Kane Wu, Yantoultra Ngui, Sophie Yu, Sumeet Chatterjee, Mark Potter Organizations: Trustar, Trustar's PE, McDonald's Corp, CITIC, HK, Carlyle Group, Reuters, Bloomberg, Thomson Locations: HONG KONG, McDonald's China, China, Trustar's, Abu, Chicago, CITIC, Hong Kong, Singapore, Beijing

REUTERS/Dado Ruvic/Illustration/File Photo/File Photo Acquire Licensing RightsAug 28 (Reuters) - Artificial intelligence leader OpenAI said on Monday it is releasing a version of ChatGPT targeted to large businesses, increasing the overlap in what OpenAI and its financial backer Microsoft (MSFT.O) offer to customers. ChatGPT Enterprise offers more security, privacy and higher-speed access to OpenAI’s technology, the company said. With the launch of ChatGPT Enterprise, OpenAI hopes employers will feel comfortable embracing ChatGPT usage at work. Microsoft already offers businesses access to ChatGPT via its Azure OpenAI Service, though in order to use it businesses must be a customer of Azure, Microsoft’s cloud computing platform. ChatGPT Enterprise subscribers need not subscribe to Azure, OpenAI said.

Persons: Dado Ruvic, OpenAI, Carlyle, Estee Lauder, Anna Tong, Chris Reese, Marguerita Choy Organizations: REUTERS, Microsoft, ChatGPT Enterprise, Estee Lauder Companies, Reuters, OpenAI, ChatGPT, Thomson Locations: U.S, San Francisco

Nvidia shares, which had run up in the days leading up to its report, climbed more than 6% on Thursday but pared gains to end the day little changed. However, Nvidia's stock buyback - the fifth-biggest repurchase announcement among U.S.-based companies this year, according to EPFR - surprised some investors. Despite the staggering dollar amount, Nvidia's buyback amounted to only 2.1% of its nearly $1.2 trillion market value, or buyback yield, as of Wednesday. Indeed, some investors welcomed Nvidia's buyback decision. "It’s a show of confidence," said Francisco Bido, senior portfolio manager for F/M Investments' large cap focused fund, which holds Nvidia shares.

Persons: Dado Ruvic, Lip, Daniel Morgan, Morgan, Refinitiv, Tom Plumb, Plumb, buyback, Howard Silverblatt, Dow, Daniel Klausner, Houlihan Lokey, Nvidia's, Francisco Bido, Lewis Krauskopf, Chibuike Oguh, Lance Tupper, Echo Wang, Stephen Nellis, Ira Iosebashvili, Matthew Lewis Organizations: NVIDIA, REUTERS, Nvidia, Companies, Wealth Management, Synovus, Plumb Funds, Arm Holdings, Dow Jones, Apple, Tech, Investments, Thomson Locations: New York, San Francisco

Competition for buy-side jobs, including at private equity firms and hedge funds, can be fierce. Insider identified the 13 recruiting firms aspiring dealmakers and traders should know for a buy-side job. The buy-side hiring spree is expected to continue despite a slowdown in mergers and acquisitions — a cornerstone of private equity investing. BellCast Partners works with mega funds, middle market funds, infrastructure funds, impact funds, real estate private equity funds, sector-focused funds, sovereign wealth funds, family offices, and credit funds. Today it does searches in private equity, growth equity, distressed, credit, venture capital, hedge funds, family offices, and select investment banks.

Persons: headhunting, Brain O'Callaghan, John Arbolino, Arbolino, Amity, Pamela Esterson, Susanna Nichols, Nichols, Esterson, Danielle Caston Strazzini, Alison Bellino Johnson, BellCast, Caston Strazzini, Jill Pierce, Spencer Stuart, Pierce, —, Brian O'Callaghan, it's, Renee Hylton, Keith Mann, Josh Grauer, Grauer, Mann, Adam Zoia, Annette Krassner, Katie Cunningham, Sarah Armstrong, Cunningham, Armstrong, Anna Brady, Janelle Matthews, Beth Grossman, Brady, they've, Morgan Stanley Eleni Henkel, Henkel, Leah Trabich, HSP, Carlyle, Warburg Pincus, Adam Kahn, Kahn, Anthony Keizner, Keizner, Nina Swift, Marty Brady, Vedica Qalbani, Qalbani, Lindsey Mead, Jessica Wu, Michael Garmisa, SearchOne, Sheri Gellman, Gellman Organizations: Citadel, nab, Boothroyd, Co, Wall, Amity Search Partners, Palm Beach Staff, SG Partners, Bain Capital, Centerbridge Partners, Trian Partners, BellCast, Charlotte Staff, CPI, BellCast Partners, Investor Relations, Nashville, San Francisco, Wharton, Harvard, Stanford, New York Staff, Partners, San Francisco Staff, Los Angeles Staff, TPG, Thoma Bravo, Bessemer Venture Partners, EQT, Elliott, Equity, KKR, ICONIQ, Spectrum Equity, Henkel Search, Search Partners, New York, Oxbridge, Nashville Staff, Time Warner, Indiana University, SG Locations: New York, San Francisco, Austin, San Diego, Chicago, Los Angeles , New York, Phoenix, West Coast, Los Angeles, NYC, California, United States, Boston, Dallas, Atlanta, Columbia, Latin America, Asia, Europe, San Francisco , New York, Bay, Gold, Los Angeles , Greenwich, Nashville, Amity, South Florida

The company logo for Financial broker Charles Schwab is displayed at a location in the financial district in New York, U.S., March 20, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNEW YORK, Aug 22 (Reuters) - Shares of Charles Schwab (SCHW.N) fell by nearly 5% to a one-month low on Tuesday after the U.S. brokerage unveiled a cost-cutting plan that came with steep one-time charges. Charles Schwab announced on Monday that it planned to layoff staff and close or downsize some corporate offices to save about $500 million. But Charles Schwab is expected to incur one-time charges of up to $500 million from the cost-cutting measure, potentially dampening its profit in the second half of this year. Charles Schwab's stock fell as much as 5.3% to $56.26, the lowest level since July and the biggest one-day percentage drop since March.

Persons: Charles Schwab, Brendan McDermid, Charles Schwab's, Morningstar, Michael Wong, Chibuike Oguh, Lisa Shumaker Organizations: REUTERS, State, Northern Trust, Bank of New York Mellon, U.S . Federal Reserve, Thomson Locations: New York, U.S, Northern

☆ 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

NEW YORK, Aug 17 (Reuters) - Wolfspeed Inc (WOLF.N) shares plunged by nearly 21% on Thursday after analysts slashed price targets and sounded a cautious note about the chip maker's profit trends after its disappointing results. At least six brokerages cut their price targets for Wolfspeed shares after the company predicted a larger-than-expected quarterly loss after the market closed on Wednesday. Bank of America, which rates the stock "underperform," cut its price objective on the stock to $49 from $56. Wolfspeed shares were down 16.7% to $44.31 in afternoon trading. Reporting by Chibuike Oguh in New York; editing by Lewis Krauskopf and Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Vivek Arya, Wolfspeed, Chibuike Oguh, Lewis Krauskopf, Deepa Babington Organizations: Wolfspeed, Bank of America, Thomson Locations: Mohawk, New York

☆ 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

☆ Global investors skip Ant’s buyback after valuation slumps 70% - Bloomberg News
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +1 min

A sign of Antchain, the blockchain technology branch under Ant Group, is seen at Ant Group's booth during the World Artificial Intelligence Conference (WAIC) in Shanghai, China, July 8, 2021. REUTERS/Yilei Sun/File PhotoAug 7 (Reuters) - A number of global investors are opting out of Ant Group's (688688.SS) proposed share buyback after the Chinese fintech's valuation was slashed by more than 70%, Bloomberg News reported on Monday. However, a few money managers, including Fidelity Investments and T. Rowe Price Group, have agreed to sell their shares, the report added. In July, Ant Group announced a surprise share buyback of up to 7.6% of its equity interest at a price that represents a group valuation of about 567.1 billion yuan ($78.68 billion). Ant Group, Warburg Pincus, GIC, Fidelity Investments and T. Rowe Price Group did not immediately respond to Reuters' request for comment.

Persons: Ant Group's, Warburg Pincus, Rowe Price, Nilutpal, Varun Organizations: Ant, Artificial Intelligence, REUTERS, Yilei, Bloomberg, Plan Investment, Carlyle Group, Fidelity Investments, Rowe Price Group, Ant Group, GIC, Reuters, Thomson Locations: Shanghai, China, Canada, Bengaluru

☆ 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

☆ Maersk has ways to grow again despite headwinds
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +2 min

Container ship "Evelyn Maersk" is loaded during snowfall at a container terminal in a harbour amid the coronavirus disease (COVID-19) pandemic, in Hamburg, Germany, April 6, 2021. Arch rival and privately-owned Mediterranean Shipping Company (MSC) is deploying cash reserves on acquisitions to diversify away from container shipping. Maersk also needs to strengthen its logistics and services unit, where organic revenue fell 19%, dragged down by lower retail demand, particularly in North America. Last year's purchases of Pilot and LF Logistics helped prop up the division, but Maersk needs to invest more. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Evelyn Maersk, Fabian Bimmer, A.P, Moller, Boss Vincent Clerc, EBITDA, Clerc, Pamela Barbaglia, Pierre Briancon, Streisand Neto Organizations: REUTERS, Fabian Bimmer LONDON, Reuters, Maersk, Walmart, Nike, Unilever, CMA CGM, Mediterranean Shipping Company, LF Logistics, Twitter, Adidas, InBev, Thomson Locations: Hamburg, Germany, North America

☆ Adidas and AB InBev influencer hangover may return
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +3 min

LONDON, Aug 3 (Reuters Breakingviews) - Adidas (ADSGn.DE) and Anheuser-Busch InBev (ABI.BR) are showing some unexpected resilience in the face of influencer trouble. Belgium beer producer AB InBev, meanwhile, grappled with a different influencer headache. The world's largest brewer experienced an April consumer boycott after picking transgender influencer Dylan Mulvaney to promote its popular Bud Light brew. And while AB InBev say 80% of its consumers still look favourably or are neutral on Bud Light, the brand was dethroned as the top selling U.S. beer in May. Still, Adidas trades at 10 times its forecast 2025 EBITDA, below its peer Nike's (NKE.N) 16 times, and AB InBev trails Heineken (HEIN.AS) by an even larger margin.

Persons: Kanye West, Ye, influencer Dylan Mulvaney, Bud Light, Karen Kwok, Lisa Jucca, Sharon Lam Organizations: Adidas, LONDON, Reuters, Anheuser, Busch InBev, InBev, Heineken, Twitter, Thomson Locations: Garden City , New York, U.S, Belgium, North America, Mexico

☆ Robinhood swaps meme-green tights for duller look
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

Robinhood logo is seen on a smartphone in front of a displayed stock graph in this illustration taken, July 2, 2021. REUTERS/Dado Ruvic/NEW YORK, Aug 3 (Reuters Breakingviews) - Robinhood Markets (HOOD.O) is looking more grown-up - and more boring. The problem: Users are still fleeing, and nearly half of revenue comes from interest that is destined to fade. Robinhood warned last quarter that a 100 basis-point drop in interest rates would lead to a hit equivalent to an 11% fall in revenue. When the Federal Reserve eventually turns to cutting rates, Robinhood will need more users to fill that hole.

Persons: Dado Ruvic, Vlad Tenev, ” That’s, Robinhood, Ben Winck, Jonathan Guilford, Sharon Lam Organizations: REUTERS, Reuters, Stock, Federal Reserve, Twitter, Adidas, InBev, Thomson

☆ BoE’s inflation firefighting will outlast peers
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

The Bank of England on Thursday raised UK interest rates by a quarter of a percentage point to a 15-year peak of 5.25%. Governor Andrew Bailey and his colleagues also vowed monetary policy would remain “sufficiently restrictive for sufficiently long” to bring inflation down to the BoE’s 2% target. As for the BoE, traders are betting that rates will hit 5.5% in September and stay elevated for the whole of next year. Despite an early start, Bailey’s fight against stubborn inflation is likely to drag on for longer. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Andrew Bailey, BoE, Bailey, Bailey’s, Francesco Guerrera, Lisa Jucca, Oliver Taslic Organizations: Reuters, Bank of England, U.S . Federal Reserve, European Central Bank ., ECB, Twitter, Thomson

Aug 3 (Reuters) - Specialized cloud provider CoreWeave has raised $2.3 billion in a debt facility led by Magnetar Capital and Blackstone (BX.N) and collateralized by Nvidia chips, with the funds to be used to expand to meet rising AI workload, the company said on Thursday. Other lenders in the facility include Coatue and DigitalBridge (DBRG.N), as well as BlackRock, PIMCO, and Carlyle (CG.O). Nvidia-backed CoreWeave has seen a boost from the generative AI boom thanks to its purpose-built cloud infrastructure at scale. It has partnerships with AI startups and cloud providers, which it also competes with, to build clusters to power AI workload. CoreWeave also raised $421 million in equity this year led by Magnetar Capital at a valuation of over $2 billion.

Persons: Carlyle, Michael Intrator, CoreWeave, Krystal Hu, Conor Humphries Organizations: Magnetar Capital, Blackstone, Nvidia, Nvidia H100, CoreWeave, Microsoft, Google, Thomson Locations: BlackRock, PIMCO, Texas, U.S, New York

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