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Reuters | Equities.com |

Blackstone Group LP said on Wednesday third-quarter distributable earnings rose 9% year-on-year, as the world's largest manager of alternative assets such as private equity and real estate took advantage of a rise in corporate valuations to cash out on some of its leverage buyout investments.

Distributable earnings - the cash available for paying dividends to shareholders - totaled $772 million, up from $710 million a year earlier...


Reuters | Equities.com |

Manhattan prosecutor can obtain Trump's tax returns, court rules

By Jonathan Stempel

4 MIN READ

NEW YORK (Reuters) - A federal appeals court on Wednesday said Manhattan’s district attorney can enforce a subpoena seeking Donald Trump’s tax returns and other financial records for a criminal probe into the U.S. president and his businesses.

FILE PHOTO: Manhattan District Attorney Cyrus R. Vance Jr. speaks during a news conference in New York City, U.S., September 25, ...


Reuters | Equities.com |

Goldman Sachs Group Inc is buying General Motors Co's credit card business for about $2.5 billion, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

The Wall Street bank won the bidding for the deal over Barclays Plc, according to the report.

Capital One Financial Corp, which has been GM's credit card issuer since 2012, and Goldman have agreed upon the purchase price and expect to finalize the deal in the coming weeks, the re...


AP News | Equities.com |

The solid growth that the United States enjoyed before the viral pandemic paralyzed the economy this spring failed to reduce racial disparities in Americans’ income and wealth from 2016 through 2019, according to a Federal Reserve report Monday.

Though Black and Hispanic households reported sharper gains in wealth than white households did, those increases weren’t enough to noticeably narrow the racial gaps. The typical whwhite family possessed eight times the wealth of Black families and five times the wealth of Hispanic families in 2019, the Fed said.


Reuters | Equities.com |

EU antitrust chief Margrethe Vestager on Friday appealed a court ruling dismissing her order to iPhone maker Apple to pay 13 billion euros ($15 billion) in Irish back taxes, a landmark case in the European Commission’s crackdown against sweetheart tax deals.

The Luxembourg-based General Court in July scrapped the Commission’s 2016 ruling, saying that EU competition enforcers had not met the requisite legal standard to show that Apple had enjoyed an unfair advantage.


Reuters | Equities.com |

U.S. President Donald Trump is not entitled to greater protection from a grand-jury subpoena for his tax returns just because he is president, the Manhattan district attorney said in a court filing on Friday.

District Attorney Cyrus Vance was responding to an argument by Trump’s lawyers that the president deserves extra protection from what he called harassment.

Vance last August issued a grand jury subpoena to Trump’s accounting...


Reuters | Equities.com |

The U.S. federal budget deficit fell to $63 billion in July, half the amount of a year earlier and down from $864 billion in June, as a delayed July 15 tax payment deadline boosted revenues and coronavirus aid outlays shrank sharply, the U.S. Treasury said on Wednesday.

The July deficit brought the fiscal year-to-date deficit to $2.81 trillion, compared to $867 billion for the comparable period of 2019 and doubling the 2009 full-year record deficit ...


AP News | Equities.com |

NEW YORK (AP) — President Donald Trump’s lawyers filed fresh arguments Monday to try to block a criminal subpoena for his tax records, calling it a harassment of the president.

Lawyers filed a rewritten lawsuit in Manhattan federal court to challenge the subpoena by Manhattan’s state prosecutor on grounds they believe conform with how the U.S. Supreme Court said the subpoena can be contested.

They asked a judge to declare it “invalid and unenforceable.”

The high co...


AP News | Equities.com |

WASHINGTON (AP) — Nearly half of Americans whose families experienced a layoff during the coronavirus pandemic now believe those jobs are lost forever, a new poll shows, as temporary cutbacks give way to shuttered businesses, bankruptcies and lasting payroll cuts.

It’s a sharp change after initial optimism the jobs would return. In April, 78% of those in households with a job loss thought they’d be temporary. Now, 47% think that lost job is definitely or probably not coming ba...