Posts From King World News

Blackstone posts third-quarter loss as asset values drop

Blackstone Group LP , the world’s largest alternative asset manager, reported its first quarterly economic net loss in four years on Thursday, as the stock market plunge weighed on the value of its portfolio, even as it generated more cash. Blackstone’s private equity, real estate, corporate credit and hedge fund assets all declined in value. Blackstone said economic net income (ENI), which takes into account the mark-to-market valuation of its

U.S., Alaska says will not seek additional $92 million from Exxon for Valdez spill

U.S. and Alaska state officials announced on Wednesday they will no longer seek an additional $92 million from Exxon Mobil Corp. to pay for environmental cleanup and restoration stemming from the massive Exxon Valdez oil spill nearly three decades ago. In court documents filed on Wednesday, the state of Alaska and U.S. Justice Department said they were dropping remaining judicial action and would no longer seek the additional money from