Walmart Wants to Fight Off Supplier Price Increases
Consumers just scored a valuable ally in the fight against inflation: Walmart. As inflation continues to eat into consumer discretionary spending, the big-box king — long a formidable price negotiator — is going to war with suppliers over price increases,…
Virgin Orbit Shuts Down Following Liquidation Sale
Houston, we have a problem. Richard Branson’s bankrupt Virgin Orbit announced it is shutting down for good after a liquidation sale of most of its assets. Consider it a SPAC disaster. SPAC Oddity Spun out of space-tourism venture Virgin Galactic…
Citigroup Plans Spin-out, IPO of Mexico-based Banamex
One way or another, Citigroup is ready to bid adiós to its Mexico-based Banamex unit. After an attempt to sell Banamex proved fruitless, Citigroup announced Wednesday it now plans for a spin-off and eventual IPO of the consumer bank, the…
Hilton, Marriott War Over Extended-Stay Lodging Market
Come in and stay a while. A long while. America’s two biggest hotel chains — Marriott and Hilton — are fighting over a newly-prioritized corner in the hospitality space: extended-stay hotels that cater to guests seeking weeks-long visits. The lodging…
Macau Casinos Claw Back Pandemic Losses
In gambling, the house always wins. Except maybe during a pandemic. Fortunately for Macau, an island city and a special autonomous region of China, the motherland’s staunch zero-covid policies are finally over. With one-quarter of post-pandemic life in the books,…
ESPN Will Soon be a Full-Blown Streaming Service
The shot clock may be rapidly counting down for cable TV, and ESPN isn’t waiting around to hear the final buzzer. The worldwide leader in sports is planning to offer its flagship cable channel — a.k.a. the last thing tethering…
Green Manufacturing Sparks Industrial Real Estate Growth
You say you want a green revolution? Well, you know, it’s already well underway — at least if industrial real estate is any indicator. Green-focused industries — such as manufacturing electric vehicles, solar panels, batteries, and all other parts of…
The FTC Wants to Block the $28 Billion Amgen-Horizon Therapeutics Deal
Big Pharma needs an antitrust antidote. The Federal Trade Commission and its hard-nosed chair Lina Khan have struck again, this time filing a lawsuit in federal court on Tuesday to halt biotech giant Amgen’s $28 billion blockbuster acquisition of Horizon…
TPG Grows Credit Business with $2.7 Billion Angelo Gordon Acquisition
Credit TPG, the private equity giant, for following the money. On Monday, the Texas-based firm known for leveraged buyouts and growth capital made a big splash into the exploding world of private credit by completing a $2.7 billion acquisition of…
Tiger Global Wants to Sell Portions of its Empire
You can’t put a price tag on how badly some of Tiger Global’s big technology bets are performing — and therein lies the problem. This weekend, the Financial Times reported that the massive hedge fund that collects tech startups like…