Blackstone’s Q1 profit rises but coronavirus weighs

NEC owner Blackstone Group, the world’s largest manager of alternative assets such as private equity and real estate, reported a 4% rise in first-quarter distributable earnings on Thursday, driven by a surge in management fees, even as its funds took a hit in the coronavirus-induced downturn. Blackstone, whose shares were up 5.3% at US$48.78 in early afternoon, posted a 16% rise in managemen...

Blackstone to acquire MGM Grand and Mandalay Bay for $2.5bn

MGM Resorts International is selling the MGM Grand and Mandalay Bay resorts and casinos on the Vegas strip, for about $2.5bn.