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) – 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…
GANDHINAGAR, India (Reuters) – Global economic activity is slowing, especially in the manufacturing sector, and medium-term growth prospects remain weak, the chief of the International Monetary Fund told financial leaders of the Group of 20 nations on Tuesday. IMF chief Kristalina Georgieva, speaking to G20 finance ministers and central bank governors in the western Indian…
By Makiko Yamazaki TOKYO (Reuters) – Mitsubishi UFJ Financial Group (MUFG) and Morgan Stanley said on Tuesday they will deepen their 15-year old alliance by combining some operations at their Japanese brokerage joint ventures. The cooperation, to be implemented in the first half of 2024, builds on a partnership that started with MUFG’s $9 billion…
By Nandita Bose WASHINGTON (Reuters) – Movie mogul Jeffrey Katzenberg, who is advising Joe Biden on his re-election campaign, says he sees opportunity in what many consider to be the U.S. President’s biggest vulnerability in the 2024 presidential race – his age. Biden, a Democrat who turned 80 in November, is already the oldest Oval…
(Reuters) – U.S. Treasury Secretary Janet Yellen said a cooling — but not faltering — labor market is playing a leading role in helping slow inflation, among a raft of factors imposing disinflationary pressures, Bloomberg News reported on Tuesday. Yellen also told Bloomberg in an interview on Monday that the United States was making good…
By Daniel Wiessner (Reuters) – Uber Technologies Inc must face a California lawsuit claiming it should have covered UberEats drivers’ work-related expenses, the state’s top court said on Monday, in what could be a major blow to companies in the largest U.S. state and a win for labor advocates. The California Supreme Court in a…