(Reuters) -Blackstone Inc will sell its 49.9% stake in the joint venture that owns the MGM Grand Las Vegas and Mandalay Bay resorts to co-owner VICI Properties Inc for about $1.27 billion in cash, the companies said on Thursday. The deal includes the assumption of Blackstone Real Estate Investment Trust’s (BREIT) existing property-level debt that…
Jacob Harold believes philanthropy needs more “strategic promiscuity” – battling the world’s problems using a variety of approaches. It’s an idea that mirrors his wide-ranging career. Harold was president and CEO of GuideStar before it merged with Foundation Center to form the even larger nonprofit information source Candid, which he co-founded. He worked with the…
By Indradip Ghosh BENGALURU (Reuters) – The Bank of Canada will hike its key interest rate by another 50 basis points to 4.25% on Dec. 7, according to a slim majority of economists in a Reuters poll that suggests the central bank will then hit pause on a nine-month tightening campaign. An economy that grew…
WASHINGTON(Reuters) – U.S. consumer spending increased solidly in October, while inflation moderated, giving the economy a powerful boost at the start of the fourth quarter as it navigates a high interest rate environment. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, jumped 0.8% after an unrevised 0.6$ increase in September, the…
WASHINGTON (AP) — The number of Americans applying for unemployment benefits came back down last week, hovering near levels suggesting the U.S. labor market has been largely unaffected by the Federal Reserve’s aggressive interest rate hikes. Applications for jobless aid fell to 225,000 for the week ending Nov. 26, a decline of 16,000 from the…
WASHINGTON (AP) — A measure of inflation that is closely monitored by the Federal Reserve eased but remained at an elevated level in October, likely reinforcing the Fed’s intent to keep raising interest rates to cool the economy and slow the acceleration of prices. Thursday’s report from the Commerce Department showed that prices rose 6%…
(Reuters) – Broadband service operator Altice USA Inc said on Thursday it would keep Suddenlink, its regional internet and cable business, after a review. Shares of Altice were down about 2% in trading before the bell. (Reporting by Akash Sriram in Bengaluru; Editing by Shinjini Ganguli)
LONDON (AP) — Google is challenging a record European Union antitrust fine that took aim at the Android operating system’s role in restricting mobile competition and consumer choice. The company said Thursday that it filed the appeal against the 4.125 billion euro ($4.3 billion) penalty “because there are areas that require legal clarification from the…
(Reuters) – Canada’s TD Bank posted a surge in fourth-quarter profit on Thursday as gains from higher interest rates boosted its personal and commercial business and helped offset weakness in underwriting and capital markets. Net income, excluding one-off items, rose to C$4.07 billion, or C$2.18 per share, for the three months ended Oct. 31, from…
By Davide Barbuscia, Samuel Shen and Xie Yu NEW YORK/SHANGHAI/HONG KONG (Reuters) -Some offshore bondholders are scouting for bargains in China’s cash-squeezed property sector after a slew of funding support measures followed a brutal slide, but the uncertain outlook for a recovery in home demand will keep others on the sidelines. Beijing has stepped up…
