By Svea Herbst-Bayliss NEW YORK (Reuters) – Blackstone Group LP is to invest $150 million in London-based Astaris Capital Management which will be split between the firm’s existing hedge fund and a new pool of capital with a drawdown structure, two sources said. Astaris specializes in event-driven credit and equity investments in Europe and was…
(Reuters) – Chipotle Mexican Grill will enter the Middle East next year through its first franchise deal that will see the American chain open restaurants that sell burritos and tacos in Dubai and Kuwait. The company on Tuesday signed a partnership agreement with Kuwait-based firm Alshaya Group and said it would expand operations across the…
WASHINGTON (Reuters) – A U.S. soldier has crossed the inter-Korean border into North Korea, two U.S. officials told Reuters on Tuesday, speaking on condition of anonymity. One of the officials said the soldier was believed to be in North Korean custody. The officials did not immediately offer further information. The United Nations Command that oversees…
(Reuters) – Canada’s annual inflation rate slowed to 2.8% in June on lower prices for gasoline as a result of the base-year effect, while food and mortgage interest costs remain high, Statistics Canada said on Tuesday. This beat analysts’ expectations for annual inflation to fall to 3.0%, down from 3.4% in May. STORIES: Market reaction:…
TORONTO (Reuters) – Canadian housing starts rose 41% in June compared with the previous month, the largest increase in the last 10 years, led by groundbreaking on multiple unit urban homes, data from the national housing agency showed on Tuesday. The seasonally adjusted annualized rate of housing starts rose to 281,373 units in June from…
By Krystal Hu (Reuters) – Consultancy giant McKinsey said it had struck a partnership with artificial intelligence startup Cohere in an effort to provide AI solutions to its enterprise clients. This is the first partnership with a large language model provider that McKinsey has announced as it joins other global consulting firms to tap into…
(Reuters) – PNC Financial Services Group on Tuesday cut its forecast for full-year net interest income (NII), casting a shadow over the lender’s second-quarter earnings beat. Shares of the bank fell nearly 3.5% in premarket trading as it estimated NII to rise 5% to 6% in 2023 from last year, compared to its previous forecast…
By Andrew Osborn MOSCOW (Reuters) -Russia’s Defence Ministry said on Tuesday it had hit military targets in two Ukrainian port cities overnight as “a mass revenge strike” in response to an attack on the Crimean bridge the previous day which it blamed on Kyiv. The ministry said it had struck Odesa, where the Ukrainian navy…
(This July 16 story has been corrected to show that 25% is not the tax rate, but the share of corporate profit that would be taxed, in paragraphs 4 and 9) By Shivangi Acharya, Sarita Chaganti Singh and Nikunj Ohri NEW DELHI (Reuters) – India will push its Group of 20 partners at a meeting…
By Joanna Plucinska and Guglielmo Mangiapane LONDON/ROME (Reuters) – Soaring summer temperatures across southern Europe could prompt a lasting shift in tourist habits, with more travellers choosing cooler destinations or taking their holidays in spring or autumn to dodge the extreme heat, tourism bodies and experts predict. European Travel Commission (ETC) data shows the number…
