Blackstone Inc. is buying a company that controls how a swath of businesses owned by private equity firms secure and pay for goods and services as varied as printers, pallets and postage.The world’s largest alternative asset manager agreed to buy a majority stake in CoreTrust, a business that started within a supply arm for hospital giant
- GrainCorp Ltd.’s export business as doubts linger over Black Sea shipments, said Chief Executive Officer Robert Spurway.
The major Australian exporter is seeing good demand for the country’s grain in nearly all markets around the world, and especially in Asia including Vietnam, Indonesia and “even up into Japan,” in a region where Australia has a greater competitive advantage because of its relative proximity, Spurway said.
Drug cartel members set fire to 25 shops owned by Latin America’s largest convenience store operator as they clashed with the military in the streets of central Mexico, a sign of the destructive scope of narco gangs in the country and the limited capacity to contain them.
The Oxxo stores, owned by Fomento Economico Mexicano SAB, were partially or completely burned down during the confrontations on Tuesday night in the state of Guanajuato, the company said in response to questions. No workers or clients were hurt, said Femsa, as the company is known.
- Change Healthcare Inc. should be blocked.
An internal audit of UnitedHealth’s data policies found the company had “no effective means of enforcement if or when data misuse is discovered or reported,” according to evidence presented by prosecutors during an antitrust trial Wednesday.
- markets bending skyward. The new numbers may take pressure off of the Federal Reserve in its campaign to slow inflation. Still, it’s good not to forget that the consumer price index nevertheless increased by a disquieting 8.5% from a year earlier (though it was 9.1% in June). And as far as politics is concerned, President Joe Biden and his fellow Democrats aren’t out of the woods: Even with a series of blockbuster legislative victories, including a huge economic package, the cost of living remains high, forcing many Americans to pile up credit card balances and drain savings. Here’s your
- SoftBank Group Corp., raised its earnings forecast for 2022 and said its losses narrowed as higher monthly membership fees helped improve profitability.
The company now sees positive adjusted earnings before interest, tax, depreciation and amortization, compared with an earlier projection for a $400 million loss the company said Wednesday in a statement. Its second-quarter operating loss narrowed to $75 million, compared with a $514.9 million loss a year earlier. Total net revenue rose 12% to $5 billion in the period, while the number of active clients rose 5%.
- Coinbase Global Inc. can proceed at the same time the company seeks to send the disputes to arbitration.
The court denied the cryptocurrency exchange platform’s requests for the justices to intervene in the cases and put proceedings on hold while it fights to settle the litigation out of court.
- Hal Brands is a Bloomberg Opinion columnist. The Henry Kissinger Distinguished Professor at Johns Hopkins University’s School of Advanced International Studies, he is co-author, most recently, of "Danger Zone: The Coming Conflict with China" and a member of the State Department's Foreign Affairs Policy Board.
- said they would donate $25,000 from initial sales of the collection to historically Black universities including Jackson State University, Morgan State University, Hampton University, Spelman College and Morehouse College.
The rapper’s entertainment company, ICONN Media, will match an additional $25,000.
California set an ambitious target to develop offshore wind, a key part of the state’s plan to get all its electricity from carbon-free sources by 2045.
The Golden State will seek to install as much as 5 gigawatts of turbines off the Pacific coast by 2030, and as much as 25 gigawatts by 2045, under a plan approved unanimously Wednesday by the
There’s a new way to cope with the guilt of firing your employees -- a LinkedIn post letting your network know you feel miserable about it.
Braden Wallake, the chief executive officer of a Columbus, Ohio-based marketing agency called HyperSocial, wrote a guilt-filled post Tuesday about laying off employees that concluded with a teary-eyed selfie. After the post went viral, he declared himself “the crying CEO.”
- Related Cos. won dismissal of a suit by a group of prospective tenants claiming a “poor door” at one its luxury Hudson Yards condo buildings constituted racial discrimination.
Three Black New Yorkers selected to live in rental units in the building through an affordable-housing lottery failed to show they were treated differently due to their race, US District Judge Valerie Caproni in Manhattan ruled Wednesday.
Nobody saw it coming, and now everyone wants in.
That’s a nutshell synopsis of how an improbable equity market bounce is threatening to become a meltup. Hedge funds slashed stocks, mutual funds flocked to cash, and even hard-to-daunt retail traders reined in their glee, draining the market of sellers and creating a backdrop where the slightest good news forced everyone back.
- SFOX Inc. as part of its efforts to force crypto investors to pay taxes on their holdings.
In court filings in New York and Los Angeles, the tax authority asked federal judges to let it serve summonses on SFOX and
- multi-billion dollar, decade-long semiconductor development campaign, Beijing is reckoning with its own 20-year effort that’s largely failed to deliver. Both will need to grapple with wasted funds and misguided goals as they play catch-up to Taiwan and South Korea.
Architects of China’s ambitious efforts may be facing the music for having not produced world-beating technology, Bloomberg News
A lawyer for R Kelly said that the government’s efforts to seize more than $28,000 in her client’s prison inmate account was “unprecedented” and asked a federal judge to return the money immediately.
Jennifer Bonjean said prosecutors failed to prove Kelly defaulted on paying $140,000 in fines and restitution imposed upon him when he was sentenced in June to serve 30 years in prison for sex-trafficking.
- Range Resources Corp. claims to have one of the cleanest natural-gas operations in the US. Year after year, the western Pennsylvania shale pioneer reports a lower emissions rate for methane than virtually
- Mark Gongloff is a Bloomberg Opinion editor and writer of the Opinion Today newsletter. A former managing editor of Fortune.com, he ran the HuffPost’s business and technology coverage and was a reporter and editor for the Wall Street Journal. @markgongloff
- BitMart cryptocurrency exchange over a December 2021 hack that led to consumer losses between $150 million and $200 million -- marking the agency’s first known probe into crypto markets.
The investigation was disclosed Wednesday in
- Tullow Oil Plc. appears to be in peril, with more than a quarter of the shareholder base in the oil and gas company saying they plan to vote against the deal.
Capricorn investors
Apple Inc., stepping up its spending on original podcasts, signed an agreement with a Pulitzer Prize-winning studio and is holding talks with other companies about additional deals.
The iPhone maker is looking to add original content to its Podcasts app that it hopes could eventually turn into shows on its Apple TV+ service. The deal — an agreement with Futuro Studios, the maker of the criminal-justice series “Suave” — will fund development and production of podcasts, according to people familiar with the situation. In exchange, Apple will have the first chance to turn any podcast into a film or TV show.
- Glencore Plc for toxic emissions at a copper smelter in the province’s northwest, saying the level of pollution must be brought down quickly because of evidence it’s causing increased risk of cancer and other health problems.
The Horne Smelter in Rouyn-Noranda, a remote city about 600 kilometers (373 miles) northwest of Montreal, is emitting 165 nanograms of arsenic per cubic meter of air on site, according to a recent study by public health authorities in the Canadian province. That’s 55 times the standard safe level of 3 nanograms.
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