Pimco Fund Walks Away From 20 Hotels With $240 Million of Debt
A joint venture tied to a Pacific Investment Management Co. fund surrendered a portfolio of 20 hotels with a $240 million mortgage.
Bloomberg Business
AI Funding Soars to $17.9 Billion While Rest of Tech Slumps
Multibillion-dollar investments in artificial intelligence startups have become almost commonplace in Silicon Valley — with dollars raised for AI companies outpacing funding totals in every other category of tech, and reaching $17.9 billion in the third quarter.
Glen Point Trial Reveals Morgan Stanley Tried To Buy Back Option
A week before Glen Point Capital co-founder Neil Phillips allegedly manipulated the foreign exchange markets to trigger a $20 million option, Morgan Stanley offered to buy the option back for $13 million, a witness testified on the first day of the former hedge fund executive’s fraud trial.
Amazon Offered to Settle California Antitrust Suit in 2022
Amazon.com Inc. offered to settle an antitrust investigation by the California attorney general’s office days before the state filed suit accusing the e-commerce giant over policies that allegedly lead to “artificially high prices” for consumers.
FTX Insider Says Work With SBF Left Him in ‘Severe’ Distress
Nishad Singh, the third member of Sam Bankman-Fried’s inner circle to testify against him, detailed a rocky relationship with his former boss that at times left him “humiliated” and, as the company collapsed, suicidal.
Wall Street in ‘Wait and See’ Mode as Middle East Crisis Goes On
Even as the conflict in the Middle East threatens to escalate, Wall Street traders remain squarely focused on ever-soaring Treasury yields and corporate America’s profit trajectory — with limited appetite to pay up for hedges.
Trump Appeals Gag Order Barring Attacks on Witnesses in DC Case
Donald Trump is appealing a partial gag order that prohibits him from publicly criticizing witnesses, prosecutors, and court staff involved in the federal election obstruction case against him in Washington.
Oil Steadies as Biden Commits to Israel Trip to Contain Crisis
Oil settled near $86 after a choppy session as traders assessed the intensified diplomatic efforts by the US to contain the crisis in Gaza.
Brands Hand Out Freebies as Online Ads Lose Appeal
Everyone from snack giant Mondelez to small online brands are rediscovering the benefits of an old brick-and-mortar marketing gimmick.
Bankrupt Rite Aid Settles With Drug Supplier McKesson to Avoid Shortages
Rite Aid Corp. resolved a fight with its largest supplier of prescription drugs, McKesson Corp., that the retailer said threatened its ability to continue providing customers with life saving medicines and imperiled its ability to survive bankruptcy.
