UBS Ag (UBS) Swiss bank gets pounded on big write-off. Drops to $33.60 from 52-week high of $66.26. Blackstone (BX) Today is CEO Steve Schwarzman’s birthday. Happy birthday, Steve. Shares slide to…
MFResidential Investments, Inc. submitted an IPO filing on Tuesday. The total proposed maximum aggregate amount in securities is listed as $250,000,000 in securities, although this number is merely for filing purposes. The…
Banks thought they would make money on everything in 2007. Instead, they made money on nothing. That winning streak appears to be extending into 2008. One of the most sure-fire schemes at…
Douglas A. McIntyre According to Reuters, Aluminum Corp of China has no plans to increase its stake in Rio Tinto (RTP). Reuters writes that Yahoo! (YHOO) is considering a business alliance with Google (GOOG) as…
Shares of Alliance Data (ADS) are trading off 42% before the open. The Blackstone Group (BX) and Aladdin Solutions have informed Alliance Data that they do not anticipate the condition to closing…
Douglas A. McIntyre Late word is that the China Development Bank may pass on putting $2 billion into Citigroup (C) as was planned. According to The Wall Street Journal the Chinese government may be blocking…
There have been major reports for days and weeks that have revolved around many financial services, banks, lenders, and the like merging. The truth is that the carnage in the financial sector…
Blackstone and GSO Capital Partners LP have agreed in principle on terms under which Blackstone will acquire GSO. GSO is an alternative asset manager specializing in the leveraged finance marketplace, with approximately…
Douglas A. McIntyre Most of the news about private equity operations has been bad. Tight credit markets. Broken deals. Buy-outs closed but in trouble because of large debt loads. Silver Lake, one of the largest…
Douglas A. McIntyre The Blackstone (BX) and GE (GE) buy-out of mortgage and vehicle leasing company PHH fell apart. The reason given was lack of availability of financing. In truth, PHH (PHH) is in a…
This is not every bit of news on individual stocks but this is the major news affecting many shares in pre-market activity this Thursday morning: Accenture (ACN) stock up 4% after posting…
We have been pretty critical of the ratings agencies not being on their toes and calling on things far too late. In fact, I have been an anti-fan of theirs all the…
The Blackstone Group (NYSE:BX) this morning announced that it has closed upon the Blackstone Credit Liquidity Partners L.P. and has secured capital commitments of more than $1.3 Billion. If you look at…
Blackstone (BX) is making a bid for miner Rio Tinto (RTP), at least according to The Telegraph. Rio has a market cap of over $150 billion, and will probably be sold at…
According to Reuters, UBS (UBS) will writes down about $10 billion in subprime financial instrument and raise new capital from sources including the Singapore government. Reuters reports that Blackstone (BX) is preparing…