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Blackstone Group Invests $170 Million in IBS

Blackstone Group Invests $170 Million in IBS

Global travel, transportation, and logistics technology major IBS Software announced today that it will receive $170 million private equity investment from the Blackstone Group in exchange for a minority shareholding. The transaction is expected to be complete within a month, ...

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Federal Reserve Votes to Raise Interest Rates

For the first time in nearly ten years, the Federal Reserve has raised interest rates. Bloomberg reports that the Federal Open Market Committee unanimously voted to set the new target range for the federal funds rate at .25 percent to ...

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U.S. Federal Reserve Set to Raise Rates

At 2 p.m. today, the U.S. Federal Reserve is set to raise rates for the first time since 2006. Markets are prepared for a 25 basis point liftoff, says Reuters. Fed officials have given indication that they will act cautiously ...

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Congress Settles on $1.1 Trillion Spending Package

Late last night, congressional leaders announced a deal on a $1.1 trillion, year-end tax and spending package that averts a government shutdown and funds the government through October 2016. The package reverses a 40-year ban on exporting oil while extending ...

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Hotel Commonwealth Completes $50 Million Renovation

Hotel Commonwealth Completes $50 Million Renovation

BOSTON, Mass.—Boston’s Hotel Commonwealth has announced the completion of a $50 million dollar expansion and renovation project nearly doubling the number of existing guest rooms and event space. The new wing overlooking iconic Fenway Park features 96 new guest rooms ...

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Starwood Names New CEO, Sorenson Talks Exec Job Cuts

Starwood Hotels & Resorts has named a new CEO, effective Dec. 31, following the resignation of interim CEO Adam Aron, who is leaving the company to become CEO and President of AMC Entertainment Holdings. Thomas B. Mangas, currently EVP and ...

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