Park Hotels & Resorts said it stopped making payments on a $725 million loan tied to two prominent hotels in a city hit hard by pandemic-related changes.

Spotify said it was cutting 2 percent of its work force and absorbing two popular podcast studios, Gimlet Media and Parcast, into Spotify Studios.

The Silicon Valley firm said that the split would simplify its business. The move comes amid rising tensions between the United States and China over technology investment and development.

Brookfield Asset Management is planning its latest flagship real estate investment fund with a target of $15B, a decline from its previous real estate fund as it copes with a turbulent property market and delinquent loans on properties in major U.S. markets.
Bloomberg first reported the news, citing anonymous sources.
The new fund would be BAM’s fifth flagship. The Toronto-based investment giant, which is one of the world’s largest owners of office buildings, closed on its fourth fund earlier this year, which came in at $17B.
On the company’s most recent earnings call in April, Brookfield Asset Management CEO Bruce Flatt sounded an optimistic note about…

Company executives remain cautious as rising interest rates and inflation weigh on consumers and discretionary spending.

After Farmers Group told staff last year they would be remote, some sold cars or moved to new cities. Now, the insurer’s new leader says, they must come to the office.

Apple’s new $3,499 headset will compete against less expensive offerings from Meta and ByteDance.

The SEC has proposed a bunch of new rules. But so have plenty of other government agencies.

A push is on to speed up electric-vehicle powering. What happens will shape life on the road in coming years.

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