Blackstone takes majority stake in ‘Bumble’ parent, values firm at about $3 billion
Blackstone Group Inc is taking a majority stake in MagicLab, the parent company of dating app “Bumble” and “Badoo”, valuing the company at about $3 billion, the private equity firm said in a statement on Friday.
Musk mocks hedge fund owner Einhorn over Tesla shorts
Tesla Inc Chief Executive Officer Elon Musk took to Twitter on Friday to taunt short-seller David Einhorn in an open letter after the hedge fund owner wrote to clients about losing money on his short position in the Silicon Valley car maker.
Trade deal doubts clip world stock rally, oil falls
Oil prices fell and global equity markets slid on Friday, halting a week-long rally on hopes an end to the U.S.-China trade war was near, as investors parsed statements from Beijing and Washington on where they stand on rolling back tariffs.
Gap says still planning Old Navy spin-off as CEO departs
Gap Inc said on Friday it was sticking with plans to spin off its Old Navy brand into a separate company, as Wall Street analysts questioned its commitment to the project following the surprise exit of Chief Executive Officer Art Peck.
FCC orders station groups to negotiate with AT&T in DirecTV dispute
The Federal Communications Commission on Friday said it was directing broadcast station groups to go to the negotiating table over whether to allow local stations to air on AT&T Inc’s DirectTV after some consumers have been without access for five months.
Wall Street treads water as trade-fueled rally pauses
Wall Street halted a record run on Friday as U.S. President Donald Trump contradicted reports that the United States and China would roll back existing tariffs.
Italian court convicts Deutsche Bank, Nomura in Monte Paschi derivative trial
An Italian court has convicted 13 former bankers from Deutsche Bank, Nomura and Monte dei Paschi di Siena over derivative deals that prosecutors say helped the Tuscan bank hide losses in one of the country’s biggest financial scandals.
Siemens CEO deplores admiration for ‘pot smoker’ after his deputy praised Tesla
Siemens Chief Executive Joe Kaeser on Friday lamented Germans who fail to recognize true visionaries and instead admire pot smokers who talk about space travel, only days after his own deputy praised Tesla’s CEO Elon Musk.
Germany’s economic pain is here to stay
It was meant to be a fleeting slowdown for Europe’s economic powerhouse, followed by a rapid rebound.
Trump says has not agreed to roll back tariffs on China
President Donald Trump on Friday told reporters he has not agreed to roll back tariffs on China but that Beijing would like him to do so.
