Bloomberg News and Videos — Page 344

Real estate mogul Tilman Fertitta's years-long quest to buy Caesars Entertainment Inc. is finally paying off: His firm struck a $5.7 billion, all-cash deal for the Las Vegas company on Thursday that will add some 52 casinos in the US to his entertainment empire. Fertitta's pursuit of Caesars dates as far back as 2018, when the owner of the Golden Nugget casinos approached the company about a possible merger. Fertitta had borrowed heavily to buy the Houston Rockets basketball team for $2.2 billion, and the potential merger was seen at the time as a means of folding his debt into a larger company.  Fertitta eventually built a stake in Caesars, signaling his continued interest in a tie-up. As part of the takeover announced on Thursday, Fertitta Entertainment Inc. is paying Caesars shareholders $31 a share in cash. We get reaction from Jody Lurie, Senior Credit Analyst for Bloomberg Intelligence.

Earnings estimates are surging and the growth of AI spending has served as a counterweight to the hit from Iran. Bob Doll, CIO at Crossmark Global Investments, joins for a discussion on equity resiliency and warning from the bond vigilantes.

Breaking Iran cease-fire headlines sent travel stocks soaring as oil prices dropped sharply. Kayak CEO Peer Bueller joined Bloomberg Open Interest to explain why travelers are still booking trips despite geopolitical chaos, rising airfare, and inflation, and why AI is changing how consumers search for deals. Plus, the hidden link between Middle East tensions and airline profits.

Ardian Co-CEO Mark Benedetti joined Bloomberg Open Interest to explain why markets keep hitting record highs despite wars, inflation, and rate uncertainty. He breaks down the massive shift that's happening inside private markets, why diversification is making a comeback, and how the booming secondary market could become a $300 billion industry.

Federal Reserve Bank of St. Louis President Alberto Musalem says policymakers cannot depend on a potential productivity boom from AI to ease elevated inflation at a conference in Reykjavík, Iceland.

Iran and the US have reached a deal to extend a truce and work toward an agreement to end the war, Axios reported, sending oil prices lower. Tyler Kendall reports on "Bloomberg Open Interest."

On this episode of Stock Movers with John Tucker: - Apple (APPL) is moving on news the next iPhone, iPad and Mac software updates will feature a revamped Siri interface and a new chatbot-style app. The new Siri will include features such as the ability to understand personal data and analyze on-screen content, a rebuilt model using Google Gemini technology, and AI-powered web search. - Caesars Entertainment (CZR) shares are on the move as the company agreed to be bought by Fertitta Entertainment Inc. in a $5.7 billion, all-cash deal. Caesars shareholders will get $31 a share in cash, which represents a 49% premium over Caesars' stock price on Feb. 25. - Snowflake (SNOW) is soaring after the software maker gave a stronger-than-expected annual outlook and signed a $6 billion multiyear agreement to use Amazon.com Inc.'s cloud services and chips.

Snowflake Inc. shares jumped after the software maker gave a stronger-than-expected annual outlook and signed a $6 billion multiyear agreement to use Amazon's cloud services and chips. Snowflake CEO Sridhar Ramaswamy speaks to Bloomberg's Matt Miller and Caroline Hyde about the results and how it will work with Amazon.

Federal Reserve Vice Chair Philip Jefferson says he expects inflation to cool later this year as the effects of tariffs and higher energy costs wear off but cautions that inflationary risks remain tilted to the upside. He speaks at a conference hosted by the Bank of Japan in Tokyo.

Federal Reserve Bank of New York President John Williams says the answer to whether a lift in productivity will ultimately impact interest rates and the central bank's policymaking is, "unsurprisingly, it depends." Williams spoke Thursday at a central banking conference in Iceland.