China deals a blow to Blackstone’s ambitions
Read a transcript of this episode on FT.com
US consumer prices in August rose at a more moderate pace in a sign that inflationary pressures associated with the end of Covid-19 lockdowns are easing, and bank executives say consumer spending is outpacing pre-pandemic levels as shoppers shrug off the Delta variant, and Blackstone abandoned a large deal in China after Beijing’s antitrust regulators refused to sign off on it within the agreed time frame, and big Chinese cities suspended land auctions in response to rules aimed at lowering housing prices.
Pace of US consumer price rises cools slightly in August
US consumers still spending despite Delta risk, banks say
Blackstone drops $3bn takeover of property developer Soho China
Chinese land auction blunder undercuts Xi’s inequality crusade
Call of the great outdoors fades for advertisers during muted commuting
The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Gavin Kallmann, Michael Bruning, and Persis Love. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley.
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