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Penn National Gaming, which operates 43 casinos and racetracks in 20 U.S. states, has agreed to buy Score Media & Gaming for $2 billion, The Wall Street Journal reported. Score Media’s Score app sends scores, sports news, and betting information to its subscribers. Score had about 3.7 million active users in May, the WSJ said....

Private equity firm Apollo Global Management will buy a portion of Lumen Technologies’ broadband and telephone infrastructure for $7.5 billion and assume $1.4 billion of Lumen’s debt, The Wall Street Journal reported. The transaction covers about 5 million Lumen residential and business customers, mostly in the U.S. Midwest and Southeast. Around the purchased networks, Apollo...

Last year’s economic crisis has divided the world of shopping malls in two. So-called “Class A” malls, offering luxury shops and top-tier restaurants to well-off households that held their jobs through 2021, have survived more or less intact and are still able to charge premium rents. In contrast, owners of Class B and C malls,...

By 2030, half of all passenger vehicles produced in the U.S. will be all-electric, president Joe Biden declared, signing an executive order to that effect on 5 August. Leaders of the United Auto Workers, Ford Motor Company, General Motors, and Stellantis—the Dutch auto company that is the latest owner of Fiat-Chrysler—were on hand at Biden’s...

Airlines have predicted that business travel will return this fall, but now the companies may be wondering if their optimism is premature.  Business travelers slowly have been returning to the road, with business bookings reaching 40 percent of pre-crisis levels, the Wall Street Journal reported. (See “Business Travel Rebound?,” Trends Journal, 8 June, 2021.) American...

Rents for houses and apartments have shot up an average of 10 percent since July 2020, with the median rate reaching $1,244, a 9.4-percent increase since March 2020, just before the COVID War began, according to the website Apartment List. Share prices of companies owning rental homes and flats have risen in tandem. FTSE’s Nareit...

The U.S. trade deficit expanded 6.7 percent in June from May to a record $75.75 billion, the U.S. commerce department reported, as a resurgent economy boosted demand for foreign-made goods while some sectors of the American economy have yet to return to pre-crisis strength. (See “Trade War? U.S. Lost It,” Trends Journal, 9 February, 2021.)...

Including dividends, the share value of private equity firm Blackstone has tripled since 1 April 2020, the date on which the economic recovery began, according to The Wall Street Journal. The firm’s $140-billion treasure chest now exceeds that of Goldman Sachs and rival Blackrock. KKR’s stock has done slightly better than Blackstone’s, the WSJ noted....

Blackrock and Wells Fargo, two major financial companies, announced Thursday that they will delay their plans to have employees return to the office for about a month. The companies moved back their September returns to October, citing the spread of the COVID-19 Delta variant. “Today, given rising COVID-19 case rates around the US, we are...

Due, in large measure, to this year’s significant federal stimulus spending, the U.S. economic recovery is progressing well enough that the Federal Reserve should be able to consider raising its key interest rate from near zero early in 2023, Richard Clarida, Fed vice-chair, said in a 4 August speech. Current projections for employment and inflation...