Category: Business

Blackstone Group LP said on Wednesday its third-quarter distributable earnings rose 9% year-on-year, as the world’s largest manager of alternative assets such as private equity and real estate took advantage of a rise in corporate valuations to cash out on some of its leverage buyout investments. Distributable earnings – cash available for paying dividends to […]

Italy’s antitrust authority is investigating Alphabet’s Google GOOGL.O for alleged abuse of its dominant position in the Italian online display advertising market, it said on Wednesday. The investigation follows a complaint filed by Italian digital advertising lobby group IAB last year, and adds to regulatory scrutiny the Silicon Valley tech giant is facing worldwide. The […]

The chief executives of Twitter Inc, Facebook Inc and Alphabet Inc’s Google defended a law protecting internet companies before a Senate panel on Wednesday as lawmakers seek ways to hold Big Tech accountable for how they moderate content on their platforms. The hearing was about Section 230 of the Communications Decency Act, which offers big […]

A U.S. Senate Commerce Committee hearing on a key social media legal protection was briefly delayed when Facebook Inc Chief Executive Mark Zuckerberg struggled to appear remotely. “We are unable to make contact with Mr. Mark Zuckerberg,” Senator Roger Wicker, who chairs the committee, said agreeing to a five-minute delay after the chief executives of […]

U.S. jeweler Tiffany & Co is close to reaching an agreement with LVMH to lower the price of its acquisition by the French luxury goods giant to $131.5 per share, a source familiar with the matter said. The original deal, agreed last November, envisaged LVMH buying Tiffany for $135 per share. But the French group […]

CME Group CME.O, the world’s biggest futures exchange operator, said on Wednesday third-quarter profit plunged 35% as the ultra-low rate environment, aimed at easing the economic blow of the COVID-19 pandemic, cut demand for some of its top products. The U.S. Federal Reserve flooded the markets with liquidity in response to the pandemic and said […]

Mastercard Inc said on Wednesday it does not expect a pickup in overall travel spending anytime soon, warning that a recovery in cross-border volumes would be tied to the timing and the availability of COVID-19 vaccines. The payments processor said the impact of the pandemic on international travel, especially outside Europe, remains significant. The comments […]