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The Biden administration is seeking an emergency stay of Kacsmaryk's order from the New Orleans-based 5th U.S. The 5th Circuit has a conservative reputation, with 12 of its 16 active judges appointed by Republican presidents. The FDA could then petition the U.S. Supreme Court for an emergency stay. Regardless of whether it wins an emergency stay of the injunction, the FDA will continue its appeal of Kacsmaryk's preliminary injunction. Once it does come, the losing side will again have the chance to appeal to the 5th Circuit and, eventually, the Supreme Court.

☆ Read the Court Decision Ordering the F.D.A. to Keep Mifepristone Available
▼ + stars: | 2023-04-07 | by ( ) www.nytimes.com time to read: +2 min

Plaintiffs contend that mifepristone no longer requires a REMS program 8 with ETASU. Plaintiffs assert that (1) 2 3 4 5 Case 1:23-cv-03026-TOR 7 ECF No. Defendants do not address whether mifepristone qualifies 16 for ETASU, asserting it need only determine whether modifications are appropriate 17 under 21 U.S.C. See ECF Nos. 51 at 25; 78 at 22.

April 7 (Reuters) - A federal judge on Friday halted federal regulators' approval of the abortion pill mifepristone while a legal challenge proceeds, partially granting a request by anti-abortion groups and dealing another setback to abortion rights in the United States. A White House official said they are reviewing the abortion ruling. Kacsmaryk's ruling is a preliminary injunction that would essentially ban sales of mifepristone while the case before him continues. Some abortion providers have said that if mifepristone is unavailable, they would switch to a regimen using only misoprostol for a medication abortion. During the hearing in the case, the judge raised questions about the regulatory process used by the FDA.

☆ Weakened euro has fueled opportunity in foreign markets, says Centerstone's Abhay Deshpande
▼ + stars: | 2023-04-04 | 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 EmailWeakened euro has fueled opportunity in foreign markets, says Centerstone's Abhay DeshpandeAndrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management, and Abhay Deshpande, CIO at Centerstone Investors, join 'The Exchange' to discuss the dollar index under stress, offsetting cyclical stock with defensive ones, and investing in foreign markets.

☆ Watch CNBC's full interview with Morgan Stanley's Andrew Slimmon and Centerstone's Abhay Deshpande
▼ + stars: | 2023-04-04 | 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 EmailWatch CNBC's full interview with Morgan Stanley's Andrew Slimmon and Centerstone's Abhay DeshpandeAndrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management, and Abhay Deshpande, CIO at Centerstone Investors, join 'The Exchange' to discuss the dollar index under stress, offsetting cyclical stock with defensive ones, and investing in foreign markets.

☆ The UFC-WWE deal could be the boost the M&A market needs to get back into gear
▼ + stars: | 2023-04-04 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Citigroup, JPMorgan, Wells Fargo, and Bank of America were among the banks advising on the deal. Earlier this year, some pegged the merger market getting back into the swing of things by mid-year. When you think about it, the WWE-UFC deal might be the best way to get the market going again. Fight for media rights: Both UFC and WWE have streaming deals with ESPN and NBCUniversal's Peacock, respectively. The crypto community is now pitching itself as playing a key role in AI development thanks to its decentralized nature.

☆ Big real estate landlords are finally starting to decarbonize, creating an $18 trillion market that this Blackstone portfolio company plans to profit from at every turn
▼ + stars: | 2023-04-03 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +7 min

The Blackstone portfolio company Legence wants to be a one-stop shop for landlords. A Real Estate Board of New York study found that the total penalties could top $213 million. Its ICS became the strategic planner, its CMTA, which designed the first net-zero school in the United States, designed the upgrades, and its Gilbert Mechanical installed the new heating, cooling, ventilation, and lighting hardware. How to do itIt may still be a challenge to coordinate decarbonization processes, which don't come naturally to large-scale real-estate operators, Boland said. Legence plans to grow the business's geographic scope and increase its depth in current markets, including Colorado and California, Sprau said.

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☆ SVB's collapse was fueled by 'people on iPhones' and won't spread across the US banking sector, Blackstone CEO says
▼ + stars: | 2023-03-30 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Silicon Valley Bank failed because of the "interim issue" of high interest rates, Steve Schwarzman said. Rapid withdrawals "by people on iPhones" also fueled SVB's collapse, he told Bloomberg Thursday. "The banking system is not in any type of conventional crisis," the billionaire businessman said. Silicon Valley Bank's collapse earlier this month sparked a selloff in stocks of regional US banks, fueling fears that its failure would develop into a broader crisis. Read more: Silicon Valley Bank's spectacular implosion shows how digital banking can decimate a lender in 24 hours

Of the various potential rulings possible in the case involving the abortion pill mifepristone, either of those outcomes would be unprecedented judicial intervention in the agency's regulatory process. Some of the FDA's options could be politically and legally risky both for the agency and mifepristone suppliers, they said. The FDA said the pill was deemed safe after extensive studies and use, and that the challenge comes much too late. Under FDA statutes and regulations, drug approval withdrawal generally begins with an informal hearing, which can entail extensive document preparation and the convening of an advisory committee. Overseas provider Aid Access, an Austria-based service that ships abortion medication to U.S. patients, said it would continue providing the pill no matter how the FDA responds.

☆ Events software provider Cvent accepts Blackstone's $4.6 bln deal
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

A rout in tech stocks last year shrank company valuations, making them enticing targets for private equity suitors. Cvent was valued at $5.3 billion in 2021 when Vista, which had acquired it for $1.65 billion a few years ago, took it public in a merger with a blank-check acquisition company. Blackstone's offer price of $8.50 per share, gives Cvent an equity value of $4.15 billion and represents a premium of about 29% from Jan. 30, a day before media reports of a potential deal surfaced. Cvent on Tuesday posted a loss of $100.3 million in 2022, wider than $86.1 million it reported a year earlier. Blackstone said it has received a $1 billion credit facility as part of the financing for the deal.

☆ An anti-abortion judge overseeing a Texas lawsuit that could ban an abortion pill wanted to delay announcing the hearing date, The Washington Post reported
▼ + stars: | 2023-03-12 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +6 min

Judge Matthew Kacsmaryk is overseeing a lawsuit that challenges the FDA approval of mifepristone. A hearing was scheduled for Wednesday, but the judge hoped to delay publicizing the date, per WaPo. But the Texas judge overseeing the case — who is known for his conservative politics and anti-abortion stance — hoped to hide the date of the hearing until right before the scheduled date, The Washington Post reported. In addition, he told attorneys on the call that members of the courthouse have received threats due to the lawsuit, the Post reported. According to the report, the Post had attempted to seek information about the date of the hearing before the Friday call but received no response.

☆ A coastal fort in Wales used by the US Army in the Second World War is on the market for $230,000
▼ + stars: | 2023-03-12 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +1 min

This Welsh coastal fort, built in the 1860s, is on the market for about $230,000. Fort Hubberstone's barracks housed US soldiers ahead of the D-Day landings in the Second World War. Fort Hubberstone, a property in the Welsh coastal town of Milford Haven, has been put on the market for £190,000 (almost $230,000). The Grade II* listed building housed US soldiers during the D-Day landings in World War Two, and came complete with gun rooms and a pub. The property has seen far better days, and a prospective buyer will need to do some work to bring it up to spec.

☆ More than 1,000 migrants brought ashore in Italy after multiple rescues
▼ + stars: | 2023-03-11 | by ( ) www.reuters.com time to read: +2 min

ROME, March 11 (Reuters) - More than 1,000 migrants were brought ashore to southern Italy on Saturday after coastguards launched major rescue operations for three boats struggling in rough seas off Calabria. Local officials said a further 200 migrants had been picked up off the coast of Sicily and would be ferried to Catania later in the day. Prosecutors are investigating whether Italian authorities should have done more to prevent the disaster. Late last year, it cracked down on charity rescue boats, accusing them of acting as a taxi service for migrants. However, departures have nonetheless picked up dramatically, with roughly 17,000 migrants reaching Italy by boat so far this year against some 6,000 in the same period of 2022.

☆ 7 things to do in Austin that will make your 'work trip' to SXSW unforgettable
▼ + stars: | 2023-03-08 | by ( Elizabeth Wood | ) www.businessinsider.com time to read: +2 min

Austin is home to SXSW, the annual tech and culture conference that attracts thousands. If you're going for work, tack on a few days and enjoy some local fun. Many companies send their employees to SXSW on business. If you're one of them, why not take the opportunity to get out and see Austin when your work day is done? Here's a guide to some of Austin's hidden gems to help you unwind and turn your work trip into "workation."

☆ These 8 startups are bringing AI technology to Netflix, Lucasfilm, Marvel Studios, and more — and attracting millions in VC funding
▼ + stars: | 2023-03-07 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

VCs and private equity have poured millions into AI startups seeking to disrupt film and TV production. Startups making waves in Hollywood AI include MARZ and Deep Voodoo, founded by the creators of "South Park." Generative AI has spawned a raft of tools with real-life applications to Hollywood — and VCs are getting in on the action. There are already AI tools that can write full scripts. Vendors and investors told Insider that over time, AI tools will change jobs, not replace them.

☆ Actor Tom Sizemore, known for tough-guy roles and scandal, dead at 61
▼ + stars: | 2023-03-04 | by ( Steve Gorman | ) www.reuters.com time to read: +5 min

March 3 (Reuters) - Actor Tom Sizemore, known as much for his struggles with drug addiction and run-ins with the law as for his tough-guy roles in such films as "Saving Private Ryan" and "Black Hawk Down," died on Friday at age 61, said his manager, Charles Lago. Sizemore's first major leading role came in the 1997 horror thriller "The Relic," again playing a police detective. On television, Sizemore won plaudits for his starring role as a police detective in the short-lived CBS television drama "Robbery Homicide Division." He was arrested again on suspicion of domestic abuse in 2016 and the following year pleaded no contest, the legal equivalent of guilty in California, and was sentenced to three year's probation. Sizemore chronicled his turbulent life in the 2013 memoir, "By Some Miracle I Made It Out of There."

☆ Blackstone defaults on Nordic mortgage-backed bond
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +1 min

"This debt relates to a small portion of the Sponda portfolio. We are disappointed that the Servicer has not advanced our proposal," Blackstone said in an emailed statement on Thursday. "We continue to have full confidence in the core Sponda portfolio and its management team," the company added. The bond, which was underwritten by Citigroup and Morgan Stanley, was originally secured against 63 mostly office buildings in Finland. Blackstone's $71 billion unlisted real estate income trust (BREIT) has also been in hot water.

☆ Bridgewater's new executive team is already making big changes. But was it all part of Ray Dalio's master plan?
▼ + stars: | 2023-03-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

On tap, we've got stories on the top VCs in Texas, more headaches for Blackstone's BREIT, and why boomers stink. Maybe it's just the fear of facing your own mortality and realizing that life, in fact, will go on without you. As Rebecca Ungarino reports, the world's largest hedge fund is making a slew of new changes less than six months after billionaire founder Ray Dalio stepped aside. Bridgewater, which was founded in 1975 from Dalio's two-bedroom apartment, is arguably just as well known for its culture as its size. Edited by Jeffrey Cane (tweet @jeffrey_cane) in New York and Hallam Bullock (tweet @hallam_bullock) and Nathan Rennolds (tweet @ncrennolds) in London.

☆ Blackstone defaults on $562 mln Nordic property-backed CMBS - Bloomberg News
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +1 min

March 2 (Reuters) - Blackstone Inc (BX.N) has defaulted on a 531 million euro ($562.5 million) bond backed by a portfolio of offices and stores owned by Finnish company Sponda Oy, Bloomberg News reported, as rising interest rates hit European property values. "This debt relates to a small portion of the Sponda portfolio. We are disappointed that the Servicer has not advanced our proposal," Blackstone said in an emailed statement on Thursday. "We continue to have full confidence in the core Sponda portfolio and its management team," the company added. Blackstone's $71 billion unlisted real estate income trust (BREIT) has also been in hot water.

Feb 25 (Reuters) - Blackstone Inc (BX.N) Chief Executive Officer Steve Schwarzman took home about $1.26 billion in pay and dividends for 2022, a regulatory filing showed. Schwarzman received more than $1 billion in dividends from his Blackstone shares and $253.1 million in compensation, filing showed on Friday. Goldman Sachs Group Inc (GS.N) slashed compensation for CEO David Solomon by 29% to $25 million for 2022, while JPMorgan Chase & Co (JPM.N) CEO Jamie Dimon's total compensation was unchanged at $34.5 million. Schwarzman owns about 230 million shares in Blackstone according to a filing from February, and the company paid $4.40 in annual dividend, filings showed. Blackstone ended the quarter with $974.7 billion of total assets under management and declared a quarterly dividend of 91 cents per share.

☆ Exclusive: Events software vendor Cvent rebuffs $3.9 bln Blackstone bid-sources
▼ + stars: | 2023-02-24 | by ( Milana Vinn | ) www.reuters.com time to read: +2 min

Feb 24 (Reuters) - Cvent Holding Corp (CVT.O), a U.S. software provider that facilitates in-person and virtual meetings, has rejected a $3.9 billion acquisition offer from buyout firm Blackstone Inc (BX.N), people familiar with the matter said on Friday. Blackstone is taking a break from the negotiations after Cvent rejected its $8-per-share offer as too low, the sources said. Shares of Cvent, which is controlled by private equity firm Vista Equity Partners Management LLC, had ended trading on Thursday at $7.64. Cvent, Blackstone and Vista Equity declined to comment. Cvent shares have since dropped due to concerns that an economic slowdown, brought about by the U.S. Federal Reserve's higher interest rates to fight inflation, will lower demand for conferences and events that drive the company's business.

☆ Exclusive: Blackstone set to raise as much as $10 billion for tactical opportunities
▼ + stars: | 2023-02-23 | by ( Chibuike Oguh | ) www.reuters.com time to read: +2 min

NEW YORK, Feb 23 (Reuters) - Blackstone Inc (BX.N), the world's largest private equity firm, is set to raise as much as $10 billion for its tactical opportunities strategy, which gives it versatility to invest in a range of assets, people familiar with the matter told Reuters. Blackstone has amassed about $5 billion for the Blackstone Tactical Opportunities Fund IV, which was initially aiming to raise only $4 billion, Reuters previously reported. Blackstone has raised three previous tactical opportunities funds that cumulatively collected about $16.4 billion from investors since the first of them was first launched in 2012. The $6.7 billion Blackstone Tactical Opportunities Fund II and the Tactical Opportunities Fund III, which raised $4.09 billion, had generated a net internal rate of return of 14.1% and 11.7%, respectively, as of June last year, according to the California Public Employees' Retirement System. Blackstone's tactical opportunities division has about $34 billion in assets under management.

☆ Blackstone's Ike leaves to start new investment firm
▼ + stars: | 2023-02-22 | by ( Chibuike Oguh | ) www.reuters.com time to read: +2 min

NEW YORK, Feb 22 (Reuters) - Melvin Ike, a managing director in Blackstone Inc's (BX.N) tactical opportunities group, has resigned to start his own investment firm, the private equity firm told Reuters. Ike's resignation was announced during a meeting of Blackstone's tactical opportunities fund investors held last week in New York, the firm said in a statement on Tuesday. Ike's transactions for Blackstone's tactical opportunities unit include the sale of a majority stake in Wisconsin-based home improvement lender Aqua Finance for $1 billion to Apollo Global Management (APO.N) in 2021. He also led Blackstone's acquisition of a majority stake in collectibles authentication firm Certified Collectibles Group as well as the minority investments in digital marketing firm Recurrent Ventures and Cybersecurity firm Geocomply. Blackstone's tactical opportunities unit, which is run by David Blitzer, invests in assets that typically fall outside the scope of the firm's other funds, from timber and mines to oil tankers and satellites.

☆ Wall Street has purchased hundreds of thousands single-family homes since the Great Recession. Here's what that means for rental prices
▼ + stars: | 2023-02-21 | by ( Carlos Waters | In Carloswaters | ) www.cnbc.com time to read: +3 min

Institutional investors may control 40% of U.S. single-family rental homes by 2030, according to MetLife Investment Management. And a group of Washington, D.C., lawmakers believe that Wall Street needs to back away from the market. Khanna is the lead author of the Stop Wall Street Landlords Act of 2022. "What's outrageous is your tax dollars are helping Wall Street buy up single-family homes," he said in an interview with CNBC. Since the early 2010s, Tricon Residential, Progress Residential, American Homes 4 Rent, Invitation Homes have each bought thousands of homes.

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