DIRS.INFO The most relevant business & tech news

☆ Donald Trump is cozying up to the son of the world's richest man, hosting Alexandre Arnault at Mar-a-Lago and calling him 'a young man on the move'
▼ + stars: | 2023-02-16 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +3 min

Donald Trump hosted Alexandre Arnault and his wife at his Mar-a-Lago resort in Florida. He called Arnault a "young man on the move" and lauded his father, LVMH chief Bernard Arnault. "It was great having Alex Arnault of LVMH, and his wonderful wife, Géraldine, for dinner at Mar-a-Lago," Trump posted on Truth Social on Wednesday. "He is a young man on the move, the son of one of the great businessmen and leaders in Europe, and in the World," Trump wrote of Arnault, who is 30. It is unclear why Trump decided to host Arnault and his wife at Mar-a-Lago this week, or why they went.

Tata Group, which regained control of Air India last year after decades of public ownership, put out just six paragraphs. "Air India negotiated hard and the team is very sharp despite having no prior aviation experience. A second person who watched the billions fall into place said the Air India negotiators were "methodical, tough and very sophisticated". Plans for announcements on the anniversary of Tata's Air India takeover slipped as engine talks wore on. Analysts caution many obstacles remain to Air India's plans.

☆ Blackstone says India top Asian market, eyes infra investments
▼ + stars: | 2023-02-14 | by ( M. Sriram | ) www.reuters.com time to read: +3 min

MUMBAI, Feb 14 (Reuters) - India will continue to be Blackstone Inc's (BX.N) biggest market in Asia and the private equity giant may consider infrastructure investments there in the future, a top company executive said on Tuesday. Blackstone said it manages assets worth $50 billion in India, including in private equity and real estate. Private equity deals in India totalled $32 billion last year, a 27% drop from 2021. Even as Blackstone remains bullish on India, Gray said more certainty around tax and capital market laws will help increase foreign investments in India. China's share in Asia's total private equity deal value dropped to 28% in 2022 from 41% in 2021, the data showed.

Medication abortion has drawn increasing attention since the U.S. Supreme Court last year reversed its landmark 1973 Roe v. Wade ruling, which had guaranteed abortion rights nationwide. President Joe Biden, a Democrat, directed federal agencies to expand access to medication abortion in response to the decision. Mifepristone is used in combination with another drug, misoprostol, for medication abortion, which accounts for more than half of U.S. abortions. They said ending access to the drug would force patients to have unnecessary surgical abortions or prevent them from accessing abortion altogether. The Texas lawsuit could move quickly, as the plaintiffs in a filing on Friday asked Kacsmaryk to skip a hearing on a preliminary order and instead go straight to trial.

☆ Facebook co-founder Moskovitz funds research into cooling the Earth with sunlight reflection
▼ + stars: | 2023-02-07 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +9 min

(It's sometimes called solar radiation modification or solar geoengineering.) But it's potentially important, it could be very, very helpful, it could be disastrous," Stone told CNBC. And so it goes for solar geoengineering," Stone said. Everyone perceives it to be controversial," Camilloni told CNBC. "This is no one's Plan A for how you deal with climate risk, and whatever happens, we have to cut our emissions," Stone told CNBC.

☆ Blackstone's real-estate business is totally fine, so please stop asking about it
▼ + stars: | 2023-02-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Blackstone's real-estate business is literally fine, everyone. Yes, the private-equity giant had to limit investors from pulling their money out from the $69 billion Blackstone Real Estate Income Trust (BREIT) in December. And yes, it's also true that Blackstone had to tell investors again on Wednesday that investors were pulling money from BREIT. Murphy, an executive at Standard Investments, serving as Blackstone's new COO of corporate private equity and Heather von Zuben's appointment as COO of Blackstone's credit arm. As much as I enjoy poking fun at Blackstone, Schwarzman and Gray aren't necessarily wrong, to a degree.

☆ Sen. Kyrsten Sinema pulls in cash from Wall Street, real estate titans as she mulls reelection bid
▼ + stars: | 2023-02-02 | by ( Brian Schwartz | ) www.cnbc.com time to read: +9 min

Real estate and private equity leaders, who have long helped to fill Sinema's campaign coffers, contributed to a healthy cash haul for the senator in the final months of last year. At the lunch, Sinema discussed the incoming Congress and how the tight margins in both chambers could create gridlock, according to attendees. Sinema's campaign had already seen more than $2 million from the securities and investment industry since the 2018 election cycle. The Sinema campaign saw dozens of contributions totaling over $145,000 from people who work at Apollo Global Management, another giant private equity firm, since October. Suzanne Clark, CEO of the massive pro-business lobbying group U.S. Chamber of Commerce, also donated $1,000 to Sinema's campaign on Dec. 31, the new FEC filing shows.

☆ Blackstone is stepping up evictions of hundreds of tenants across the US as a top exec vows 'cash-flow growth'
▼ + stars: | 2023-02-01 | by ( Robert Davis | ) www.businessinsider.com time to read: +5 min

It's back to business as usual: An exec said he had confidence in the firm's "cash-flow growth." About one-fifth of those holdings are tied up in an investment vehicle known as the Blackstone Real Estate Investment Trust, or BREIT. Blackstone's real-estate portfolio is outperforming competitorsThe news of Blackstone's increasing eviction efforts came days after the company announced its fourth-quarter earnings. For example, what Blackstone calls its "opportunistic" real-estate portfolio appreciated by more than 7% during 2022 in one of the most challenging markets in recent memory. The firm's core real-estate portfolio gained more than 10% in value during 2022.

☆ Meet the Blackstone execs taking on new roles across real estate, private equity, and credit as the firm shakes up leadership
▼ + stars: | 2023-02-01 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +4 min

Blackstone is making changes to its real estate, private equity, and credit leadership. Murphy will replace the longtime Blackstone executive Robert Ramsauer, who is leaving the firm after 19 years. It is also shuffling the leadership of its credit business and its real estate business that includes Blackstone Real Estate Income Trust, known as BREIT, a high-profile fund for the firm that has recently faced redemption requests. The firm's leadership changes extend to its credit business. von Zuben's shift marks the second leadership change in the credit business, a particularly competitive area for private investment firms, that Blackstone has announced this year.

☆ Former NZ prop Johnstone becomes first All Black to come out as gay
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +2 min

[1/2] Crusaders Campbell Johnstone scores a try during their Super 14 rugby match against the Brumbies in Christchurch May 12, 2006. REUTERS/Simon BakerJan 30 (Reuters) - Former New Zealand prop Campbell Johnstone has become the first All Black to come out as gay, saying on a television programme on Monday he had been "living a lie" and leading "a double life" before acknowledging his sexuality. "If I can be the first All Black that comes out as gay and take away the pressure and stigma surrounding the issue it can actually help other people," Johnstone said. Johnstone made his debut against Fiji and played two tests against the British and Irish Lions. New Zealand Sports Minister and former deputy Prime Minister Grant Robertson, who is gay, thanked Johnstone for "blazing this trail" and said his announcement was "a big moment".

☆ Why biotech CEOs are growing more cautious about going public — and what they're waiting for
▼ + stars: | 2023-01-30 | by ( Andrew Dunn | Yeji Jesse Lee | ) www.businessinsider.com time to read: +6 min

Biotech-startup CEOs are taking more nuanced approaches to going public amid a downturn. SAN FRANCISCO — After record years of initial public offerings in 2020 and 2021, biotech leaders told Insider that the "recipe" for going public no longer works. Most biotechs saw their valuations increase by between 20% and 50% after going public. Insider asked five startup CEOs about how they approach going public and their perspectives on the biotech-IPO market for 2023. But going public doesn't carry an importance of validation for herself or the field of biotech companies specializing in AI, she said.

☆ Blackstone's earnings fall 41% as assets sales slump
▼ + stars: | 2023-01-26 | by ( Chibuike Oguh | ) www.reuters.com time to read: +2 min

NEW YORK, Jan 26 (Reuters) - Blackstone Inc (BX.N) said on Thursday its fourth quarter distributable earnings fell 41% year-on-year as the world's largest manager of alternative assets cashed out fewer investments across its key portfolios. Distributable earnings, which represents the cash used to pay dividends to shareholders, fell to $1.3 billion from $2.3 billion a year earlier. Blackstone's closely watched fee-related earnings fell 39% to $1.1 billion. Secondary funds fell 1.8% while corporate private equity and private credit funds gained 3.8% and 2.4%, respectively. By contrast, the benchmark S&P 500 index (.SPX) rose 7.08% in the fourth quarter.

☆ The recipe biotech startups use to go public is being thrown out. 5 startups CEOs reveal how they're changing their focus.
▼ + stars: | 2023-01-26 | by ( Andrew Dunn | Yeji Jesse Lee | ) www.businessinsider.com time to read: +6 min

☆ Oliver Stone's new film puts nuclear energy in the spotlight. These stocks are ready to hop on the trend
▼ + stars: | 2023-01-25 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

In his latest documentary "Nuclear Now," Stone argues for the use of nuclear energy as an environmentally friendly alternative to fossil fuels. "We had the solution [nuclear power] … and the environmental movement, to be honest, just derailed it. For investors, the film adds to growing interest in nuclear power as a fossil fuel alternative beyond renewables. These funds invest in a variety of stocks tied to nuclear power throughout the value chain. Other global nuclear energy ETFs such as Sprott Uranium Miners (URNM) and the VanEck Uranium+Nuclear Energy (NLR) have gained more than 13% and 4% in 2023, respectively.

☆ Exclusive: Blackstone in talks with Bain to sell $480 million stake in top Indian REIT
▼ + stars: | 2023-01-24 | by ( M. Sriram | ) www.reuters.com time to read: +4 min

For Blackstone, it would mean a further selldown of its Embassy stake as it adjusts its portfolio. A spokesperson for Blackstone declined to comment while Bain Capital and Embassy did not respond to requests for comment. It owns and operates more than 43.2 million square feet of office parks and office buildings in cities such as Bengaluru and Mumbai and is also the largest office REIT in Asia by area. Blackstone currently owns 24% of the Embassy REIT, which has a market capitalisation of nearly $4 billion. That will be worth $400 million-$480 million based on Monday's closing price of the Embassy REIT on the stock exchange in Mumbai.

☆ JPMorgan upgrades Blackstone, calls it 'best in class'
▼ + stars: | 2023-01-24 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

JPMorgan Chase upgraded Blackstone to overweight from neutral on Tuesday, calling the money manager "best in class." The call comes on the heels of the recent controversy over Blackstone 's private real estate investment trust. Blackstone shares dropped after news of the redemption limits in December, dropping 8% in five days and ultimately ending 2022 down nearly 43%. "Blackstone remains best-in-class and an intermediate and longer term winner, so it could hold up near-term better than feared," he said. The BREIT structure remains credible and Blackstone will likely launch new retail products to leverage the success of the non-traded structure, he added.

☆ Trump is asking advisers what they 'have' on Ron DeSantis so he can eliminate him as competition for 2024: report
▼ + stars: | 2023-01-20 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +3 min

Trump's team is looking for dirt on Ron DeSantis, per a new Rolling Stone report. Rolling Stone spoke to sources who say Trump has been asking aides what they "have" on DeSantis. Ron DeSantis, per a new report from Rolling Stone. The way Trump went after Marco Rubio and Jeb Bush, I do not believe that's going to work against Ron DeSantis." Rolling Stone's report on the Trump camp's DeSantis strategy comes after Trump sounded a warning to his prospective rival.

☆ Blackstone is predicting steady growth for its real-estate business, which could be bad news for its tenants
▼ + stars: | 2023-01-19 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Now imagine if your landlord wasn't just some mom-and-pop family that owned your building, but the world's largest private-equity firm. And while it's received a fair share of scrutiny over it, the performance of one of its real-estate funds has reignited criticism. But the Blackstone executives' comments indicated the firm could also be planning to raise rent and evict tenants, which includes those in affordable housing and student housing. Click here to read more about how Blackstone's real-estate strategy is setting the stage for an ugly battle with tenants. Top executives at Davos share their thoughts on how bad things might get in 2023.

☆ Blackstone's real-estate strategy, laid out in a leaked transcript, sets the stage for tenant battles over evictions and rising rents
▼ + stars: | 2023-01-19 | by ( Rebecca Ungarino | Alex Nicoll | ) www.businessinsider.com time to read: +9 min

The major real-estate investor Blackstone is playing defense as tenants scrutinize its policies. This week, tenants addressed Blackstone and an investor, UC Investments, to raise concerns. A transcript of an executive's remarks, obtained by Insider, sheds light on Blackstone's strategy. It is Blackstone, the New York-based investment giant that has become the world's largest real-estate investor. Vik Sawhney, Blackstone's chief administrative officer and global head of institutional client solutions, introduced Meghji, according to the transcript.

☆ Blackstone closes PE secondary funds at record $25 billion
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +1 min

Jan 18 (Reuters) - Blackstone Inc (BX.N) raised a record $25 billion for two funds that dabble in secondaries and co-investments, the asset manager said on Wednesday. Strategic Partners IX raised $22.2 billion, the world's largest secondaries fundraise ever, while Strategic Partners GP Solutions raised $2.7 billion. Blackstone Strategic Partners is its illiquid fund investing arm that provides a range of liquidity solutions to both investors and private equity sponsors. Founded in 2000, Blackstone Strategic Partners had $67 billion of assets under management as of Sept. 30 last year. New York-based Blackstone's unlisted real estate income trust also secured a $4 billion investment from the University of California earlier this month.

☆ Oliver Stone's new documentary aims to change the nuclear energy narrative
▼ + stars: | 2023-01-17 | 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 EmailOliver Stone's new documentary aims to change the nuclear energy narrativeCan nuclear energy play a role in combatting the climate crisis? Oliver Stone and Joshua Goldstein’s latest documentary "Nuclear Now" makes the case for atomic energy as an effective and environmentally friendly alternative to fossil fuels.

☆ Jeff Beck, British guitar legend who rose to fame as an influential rocker in the 1960s, dies at 78
▼ + stars: | 2023-01-11 | by ( Doha Madani | Doha Madani Is A Senior Breaking News Reporter For Nbc News. Pronouns | She Her. | ) www.nbcnews.com time to read: +2 min

Jeff Beck, the British rockstar known for his skillful mastery of guitar, died of bacterial meningitis, his family announced Wednesday. Beck, 78, spent last summer touring Europe and released a joint album with actor Johnny Depp in July. Jeff Beck performs at the Crystal Palace Bowl, London, in 1972. Please get ahold of the first two Jeff Beck Group albums and behold greatness. "Deepest sympathy to his wife friends close ones I’m bewildered Jeff Beck it don’t make sense I don’t get it," Davies tweeted.

☆ Prince Harry's memoir hits shelves after days of controversy
▼ + stars: | 2023-01-10 | by ( Michael Holden | ) www.reuters.com time to read: +4 min

Harry's book "Spare" has garnered attention around the world with its disclosures about his personal struggles and its accusations about other royals, including his father King Charles, stepmother Camilla and elder brother Prince William. "I know perhaps some of the things he says have rubbed different people the wrong way," Lai Jiang told Reuters after buying a copy in Singapore. The royal family has not commented on the book or the interviews and is unlikely to do so. While Harry's revelations have dominated the headlines in the British media over the last week, the interest in his disclosures is far from universal. Additional reporting by Kylie MacLellan and Lion Schellerer in Singapore Editing by Raissa KasolowskyOur Standards: The Thomson Reuters Trust Principles.

☆ Private equity acquires a taste for drug development
▼ + stars: | 2023-01-09 | by ( David Carnevali | ) www.reuters.com time to read: +6 min

Jan 9 (Reuters) - Private equity firms that deemed drug development too risky for their liking in the past are increasingly investing in the sector, raising dedicated funds and coming up with deals that compensate them for the uncertainty involved. These deals are not structured as the leveraged buyouts that private equity firms are mostly known for. In most cases, the drug makers start paying the money back to the private equity firms when the drug is being developed, either by issuing equity, tapping cash on hand or borrowing. They also share a slice of the newly developed drug's revenue with the private equity firms once it's approved. Private equity firms also provide capital to spin out drugs into new companies.

☆ Blackstone used this data tool to upend its real-estate business. Now it's being deployed across its PE portfolio.
▼ + stars: | 2023-01-06 | by ( Carter Johnson | Bianca Chan | ) www.businessinsider.com time to read: +4 min

Blackstone Chief Technology Officer John Stecher told Insider that Blackstone now uses Data Direct — previously called Real Estate Data Direct — across both its real estate and private-equity portfolios. From real estate to private equityInsider first detailed the launch of Data Direct, then known as Real Estate Data Direct (REDD), last year. That led to the roll out of the data tool to other parts of the business, like Blackstone's private-equity portfolio, and to new business lines next year. Data Direct, at its heart, is a data tool, and its success is predicated upon importing reliable information in the first place. Having good, clean data has made Data Direct very successful," he added.

Search resuls for: "Stone's"

25 mentions found