Business
Blackstone Defaults on $562 Million Nordic CMBS
Blackstone defaulted on a $562 million bond backed by a portfolio of offices and stores owned by Sponda Oy, a Finnish landlord it acquired in 2018. John Gittelsohn has more on “Bloomberg Markets: The Close.”
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Iran said it would halt talks with the US in protest over Israel’s expanded ground assault in Lebanon, escalating tensions as Washington and Tehran try to iron out a tentative peace deal. Tyler Kendall reports on the latest out of the Middle East.
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Texas Attorney General Ken Paxton won the state’s Republican Senate runoff, defeating four-term incumbent John Cornyn and setting the stage for a November showdown with Democrat James Talarico. Paxton clinched the nomination a week after securing an endorsement from President Donald Trump in one of the most expensive primaries in Senate history. Bloomberg’s Jon Herskovitz reports.
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The US is proposing tariffs of at least 10% on imports from most major trading partners after an investigation into alleged forced labor. Mike Pompeo, former US state secretary, offers his view as investors also parse the latest development.
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Business
Live at Shangri-La Dialogue; Iran Strike Injures Americans | Bloomberg This Weekend: May 28
Listen to Bloomberg This Weekend for unique conversations spanning news, politics, lifestyle and culture.
David Gura, Christina Ruffini and Lisa Mateo bring you unique discussions and in-depth conversations with lawmakers, business leaders and cultural icons.
Bloomberg This Weekend gives you insight to make sense of the world.
Today’s show includes conversations with:
– Bloomberg Television Anchor Haslinda Amin from the Shangri-la Dialogue in Singapore
– Bloomberg Intelligence Senior Analyst Mandeep Singh
– Associated Press Reporter Phillip Crowther
– Bloomberg Law Reporter Bobby Iafolla
– Former CDC Director Tom Frieden
– Bloomberg News Texas Bureau Chief Julie Fine
– Bloomberg News Reporter Matthew Campbell
– Cisco Chief Product Officer Jeetu Patel
Here are the stories we’re following:
-Several Americans were hurt in a missile attack on a Kuwaiti air base over the past day as a White House meeting to discuss extending the ceasefire with Iran ended without conclusion.
– A federal judge ordered President Donald Trump to respond to “grievous allegations” that his deal with the government to create a $1.8 billion fund to resolve his lawsuit against the Internal Revenue Service was the result of a “fraud” on the court.
-President Donald Trump “remains in excellent health,” according to the White House doctor, after undergoing a physical earlier this week which included a cognitive test.
– The IISS Shangri-La Dialogue is Asia’s premier defense summit, bringing senior officials from around the world to Singapore for three days of discussions. They will tackle pressing security issues, from the fragile ceasefire in the Middle East to the war in Ukraine and the intensifying great-power rivalry between the US and China in the Trump era. US Defense Secretary Pete Hegseth is expected to attend, while Vietnam’s newly minted President To Lam is set to deliver the keynote address.
– The US and Iran have reached a preliminary deal to extend a ceasefire by 60 days and discuss the future of Tehran’s nuclear program, a person with knowledge of the matter said, buoying hopes for a resolution to a three-month conflict that has killed thousands and roiled the global economy.
– Earnings from technology stocks had a big week. Dell, Salesforce, Snowflake and several others saw shares surge after results and forecasts that blew past estimates.
– A White House plan to rapidly repeal regulations has flopped, with just a handful of rules dumped via the expanded use of an administrative shortcut since a widespread review effort was ordered more than a year ago.
– As Donald Trump celebrated Ken Paxton’s landslide win in Texas, Republican officials were busy gearing up for a brutal fight that may end up costing them more than $100 million to stop a Democrat from flipping a seat in a state the president won by 14 percentage points.
– Travel restrictions and border closures are hindering the response to Ebola as aid workers say they are battling to get to some of the areas where the outbreak has been the most vicious.
#politics #trump #iran , #iranwar, #elections #electionnews #taiwan #taiwannews #singapore #chinanews #china #ebolavirus #texas #technews
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Congressional Black Caucus Chair Yvette Clarke, Democratic Representative from New York, says Louisiana’s new congressional map eliminating a majority-Black district is part of a broader redistricting push that is “devastating” for Black political representation. She says Democrats must fight the effort in court and through legislation, arguing her party cannot “sit back” as Republicans redraw maps to protect their House majority. She speaks with Kailey Leinz and Joe Mathieu on the late edition of Bloomberg’s “Balance of Power.”
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@user-yg1zp8uk4d
December 21, 2023 at 9:48 am
Can you buy up these assets
@melissaanderson821
December 21, 2023 at 9:48 am
its the new hanger games now! that's why they made the movie! people wake up and see the new future
@JenPurple2022
December 21, 2023 at 9:48 am
Floating rate debt: short term loan was low but +300% payment with 2022-2023 rate hikes.
Must default to renegotiate due to CMBs.
@Mr.Bojangles12
December 21, 2023 at 9:48 am
We will see them Crushed!
@richardg4764
December 21, 2023 at 9:48 am
Not the billionaires want to government to bail them out of their debt; hedge fund group
@craiggoldstein5699
December 21, 2023 at 9:48 am
Wait until their real estate falls
@bchbum1515
December 21, 2023 at 9:48 am
Getting what we deserve
@bchbum1515
December 21, 2023 at 9:48 am
USA is broke
@kentuckycowboy7660
December 21, 2023 at 9:48 am
iPhones 📱 that’s why. Evil Apple users destroyed this mismanaged over leveraged company
@Angie-in8wc
December 21, 2023 at 9:48 am
From an IT security point, this guy has made a major mistake. While filming, his work mates screen is exposed to the entire internet and is a potential security breach.
Top tip – don’t do this.
@vanessaschaefer3593
December 21, 2023 at 9:48 am
Let them crash! Banks too! No more saving the banks! It's their greed and exec maki g the money. TOo much money!
@vanessaschaefer3593
December 21, 2023 at 9:48 am
Time to sell off residential properties! People are waiting to buy! They screwed people out of home buying by driving up the market! Pure greed!
@vonhellfinger7540
December 21, 2023 at 9:48 am
A 10 billion sorry i meant trillion dollar company defaults on 500 million! This is what pisses working class people off!
@patouwhale
December 21, 2023 at 9:48 am
Interesting how little press this is getting
@forest2344
December 21, 2023 at 9:48 am
I am trying to avoid making any new buys at this point in other not to get sucked into a bear market trap.It's tough making money in stocks when institutional investors are the driving force behind the selling.. although I read an article of people that grossed profits up to $150k during this crash, what are the best stocks to buy now or put on a watchlist?
@bradwilliams1869
December 21, 2023 at 9:48 am
Anybody who voted democrat needs to be held accountable for allowing the new world order to finish their plan
@mikebelnap3079
December 21, 2023 at 9:48 am
Maybe just greed yeah that’s it just greed
@glennhubbard5008
December 21, 2023 at 9:48 am
Here we go again.
@victoriaselwyn8781
December 21, 2023 at 9:48 am
Oooh, does that mean that ordinary folks can just go ahead and default on loans to negotiate better terms?
@SteviePaints
December 21, 2023 at 9:48 am
Don’t ever assume that Blackstone can’t fail. look at Lehman Bothers in 2007.
@beardedmurphy540
December 21, 2023 at 9:48 am
They should be the next company too be shut down
@edwardpi9852
December 21, 2023 at 9:48 am
Let the defaults come. Hopefully governments defaults too soon we are free.
@fredcarter7003
December 21, 2023 at 9:48 am
Pay up blackstone, no deals with the banks ,
@fredcarter7003
December 21, 2023 at 9:48 am
If you can’t afford it, don’t buy it…..as long as they get it interest free , THEY WILL BUY IT, but if interst goes up. Oh we can’t pay that, BAD OWNERSHIP BAD PLANNING, PAY UP BLACKSTONE do your part
@MrSmith-vc8xd
December 21, 2023 at 9:48 am
The entire board, including the Fink, should be arrested for this immediately.
@leeg2787
December 21, 2023 at 9:48 am
No, screw this company. Short it to the ground, dissolve it. They evict us, they should liquidate them.
@doneaton6704
December 21, 2023 at 9:48 am
Just one of the many ways wealthy people/companies get to abuse Everything. It's always the working Americans who end up paying. Nothing good about capitalism if you have growing poverty because of it!
@WA_S_S_AW
December 21, 2023 at 9:48 am
Commercial Mortgage Backed Securities? They didn’t learn from 2008 one bit. Ok, who’s holding the swaps?
@coelhocointech9841
December 21, 2023 at 9:48 am
Here we go again
@FrOmThECoOp
December 21, 2023 at 9:48 am
hahahahahhahaha
@TundraTrash
December 21, 2023 at 9:48 am
Not one mention of who the bond holders are. How many pension funds? What kind of hair cuts will they have to take? How many will have to fold and go to the PFGC?
@ZoomZoomMX3
December 21, 2023 at 9:48 am
Ya these landlords make the most money historically so no sympathy… And with the internet we don't need office buildings what we all need is affordable housing.
@bigbrotherisasob
December 21, 2023 at 9:48 am
Defaulting to renegotiate the loans ? BULLSHIT.
@CommonSenseBeatsIntelligence
December 21, 2023 at 9:48 am
Role out the BAILOUT Wallstreet cheque book… Again. Tax payers don't mind, we get bailed out too right?
@dennisschoenaurer4152
December 21, 2023 at 9:48 am
Don’t confuse blackstone for Blackrock
@Ltwentytwo
December 21, 2023 at 9:48 am
talking on a press event in the middle of an open plan office. that's brave.
@Abdul-Alhazred
December 21, 2023 at 9:48 am
very nice🤗🤗🤗
@GavinusMaximusMaster
December 21, 2023 at 9:48 am
So glad the company that wants us to rent everything and be hair can just default on their debt and be just fine. What a joke.
@expletivedeleted
December 21, 2023 at 9:48 am
BLACKSTONE pure, unadulterated evil.
@lutzfilor56
December 21, 2023 at 9:48 am
Foreclose on Blackrock. That is what they do to the little guy to get the little guys assets on the cheap or free. Hold them accountable. Make them pay the millions they own. Hold their management accountable. Renegotiate is a nice way to call a hold up. Tarnish their reputation.
@redrust3
December 21, 2023 at 9:48 am
My mortgage payment whilst I was making payments was $1547 per month. Until it was paid off. Had I defaulted, foreclosure was inevitable. If Blackrock’s lender(s) renegotiate after the default, what assurances would there be for other borrowers to continue making payments in a timely manner. This could send a chill throughout the financial industry, like 2008. Lenders don’t answer to Blackrock. They answer to their own investors.
@hotttt28
December 21, 2023 at 9:48 am
Boo Hoo 😂
@russell62790
December 21, 2023 at 9:48 am
Black hole heads
@ghanova
December 21, 2023 at 9:48 am
God, Deja Vu. 2000 Swedish finance crisis, 2001 Iberian finance crisis. 2007/8 global finance crisis. Been there done that. How ignorant are they?
@bobthetroll
December 21, 2023 at 9:48 am
Yeah they have the money. Yep no way they ran out of money to pay it. If that happened then the housing market would be about to crash. Nah no way that happens. Nope. Right?
🙃
@warningsigns4526
December 21, 2023 at 9:48 am
SHE NEEDS TO OPEN HER EYES