Reuters US Business

(Reuters) – Private equity fund Blackstone is readying the sale of Spain-based Hotel Investment Partners (HIP), which is worth 6.5 billion euros ($6.77 billion), Spanish newspaper Cinco Dias reported on Wednesday, citing several unidentified market sources. HIP owns 73 hotels with 22,000 rooms in Spain, Portugal, Italy and Greece. Blackstone is seeking to divest this …

Blackstone plans to sell Hotel Investment Partners, Cinco Dias reports Read More »

(Reuters) -Consumer lender Ally Financial has agreed to sell its credit card business to credit and payments firm CardWorks, the companies said on Wednesday. Shares of Ally jumped 8.6% in premarket trading. The sale comes as Ally looks to simplify and streamline its structure and focus on its core businesses. The deal includes Ally’s $2.3 …

Consumer lender Ally Financial to sell credit card business to CardWorks Read More »

By Manya Saini and Niket Nishant (Reuters) -Property and casualty insurer Travelers trounced Wall Street estimates for fourth-quarter profit as strength in its underwriting business cushioned a blow from outsized catastrophe losses, sending its shares up nearly 5% on Wednesday. The insurance bellwether also forecast a hit from the wildfires in California, one of the …

Insurance giant Travelers delivers profit beat on underwriting boost Read More »

(Reuters) – Citi on Wednesday raised its oil price outlook for 2025 due to geopolitical risks centred on Russia and Iran, but noted prices were likely to ease through the second half of the year. “The oil outlook could see heightened, sustained geopolitical risks in Iran/Russia-Ukraine potentially wipe out the 2025 oil balance surplus, but …

Citi raises average 2025 oil price forecasts, citing geopolitical risks Read More »

By Dawn Chmielewski (Reuters) – Netflix reaffirmed its dominance of the streaming video market on Tuesday, as its mixture of live sporting events, popular returning series – and singular moments, such as a football halftime performance by Beyonce – helped attract a record number of subscribers over the holiday quarter. The company added 18.9 million …

Netflix shares soar on price hikes and record subscriber gains Read More »

By Steve Holland (Reuters) – U.S. President Donald Trump on Tuesday announced a private sector investment of up to $500 billion to fund infrastructure for artificial intelligence, aiming to outpace rival nations in the business-critical technology. Trump said that ChatGPT’s creator OpenAI, SoftBank and Oracle are planning a joint venture called Stargate, which he said …

Trump announces private-sector $500 billion investment in AI infrastructure Read More »

By Nell Mackenzie, Carolina Mandl and Summer Zhen LONDON (Reuters) -Hedge funds have positioned for Donald Trump’s U.S. presidency with their highest levels of borrowing since 2010, while betting the dollar would continue to rise, according to bank research and industry data. U.S. stock trading hedge funds kicked off the week with gross leverage levels …

Hedge funds ante-up big bets to kick off Trump’s second term Read More »