Lawsuits against financial institutions under investigation for manipulating interbank lending rates such as Libor continue to pile up, according to The Wall Street Journal. Plaintiffs holding bonds that pay some amount above the Libor rate have the best chances at legal victory, The Journal says. The legal liability facing banks may total as much as $176 Read More
Private equity enormity Blackstone is in the final stages of a $15 billion bout of fundraising after a globetrotting search for investors, The Wall Street Journal reports.
The news comes amid a putative resurgence of the buyout giants. Just today, TD Bank agreed to buy Chrysler Financial from Cerberus in a $6.3 billion Read More
The bouquinistes on the quais of the Seine should take note; Steve Schwarzman has made his literary preferences known. In anticipation of the billionaire Blackstone chief’s arrival, the vendors of antiquarian books better stock up on their Freud and Machiavelli. His five top books are oddly fitting for a man who’s about to Read More
Observer readers may have lately noticed a new column by the Tuscan-born Four Seasons owner Julian Niccolini, who has referred to himself as a “restaurateur, actor, beekeeper, journalist and winemaker.” So far, Mr. Niccolini has written just like he runs his restaurant: with well-combed, neatly pinstriped, slightly demented glee. This reporter spent time with Read More
–The daughter of billionaire Blackstone founder Steve Schwarzman has sold her Upper East Side townhouse for $6.35 million. Elizabeth “Zibby” Right and Andrew Right are both in their early 30s and appear to have bought the gracious home not long after they were married in 2005.
Ms. Right is a freelance writer and the co-author Read More
Blackstone CEO Steve Schwarzman’s decision to head to Paris for a couple months, a move that has prompted its fair share of Wall Street chatter, may have been motivated by spousal concerns, the Financial Times reports:
The move by Mr Schwarzman, 63, has been described by the people as a personal decision, partly Read More
Steve Schwarzman is taking a trip to the City of Lights, Reuters reports, offering clarity to a vague report last week that the Blackstone CEO was going somewhere in Europe, but no one knew exactly where. Says Reuters:
Schwarzman has close ties to France. He knows French President Nicolas Sarkozy well, the source Read More
Steve Schwarzman is a serious man who says serious things: Take, for instance, the private equity king’s recent comments in South Korea about mark-to-market accounting rules. Sometimes, to be sure, he also says things that are a bit out there, but then he promptly apologizes.
Nevertheless, according to photographs posted on the Read More
Last Tuesday in the Sheraton New York Hotel & Towers on West 53rd Street, just after lunchtime, Jamie Dimon made a joke. “I put this next slide in, the next one, for fun,” the JPMorgan chief executive told his audience at the Barclays Global Financial Services Conference, clicking to page 18 of his presentation. Read More
On Thursday, May 6, at 2:45 in the afternoon, the billionaire industrialist Wilbur Ross was interviewing a job candidate in his 27th-floor office when his computer screen went all red. The Dow, which had opened the day above 10,800, began falling. It dropped, paused and then plunged monumentally, down past 10,400 and 10,000 and then Read More
