Blackstone launches Clarion sale as markets stabilise, sources say
LONDON/FRANKFURT (Reuters) -Blackstone has kicked off the sale of Clarion Events, four people familiar with the matter said, in a test of demand for takeovers after weeks of market turmoil stymied dealmaking. Blackstone bought Clarion, which runs international trade shows in electronics, gaming, energy, security and defence, in 2017 for 600 million pounds ($802 million) and supported it through the COVID pandemic, when the events industry came to a sudden halt, hammering the company's revenue and earnings. The U.S.-based private equity fund distributed information memoranda earlier this month and has drawn interest from funds including CVC, KKR, PAI Partners and Ardian, the four people said, speaking on condition of anonymity.
Canada's annual inflation rate in April drops to 1.7%, but core measures rise
OTTAWA (Reuters) -Canada's annual inflation rate eased to 1.7% in April as energy prices dropped sharply after the removal of a federal consumer carbon tax, but core inflation edged up, Statistics Canada said on Tuesday. Two of the three core measures of inflation, which are closely watched by the Bank of the Canada, hit 13-month highs on underlying price pressures. The Bank of Canada last month predicted it would fall to about 1.5%, mainly due to the removal of the carbon tax and lower crude prices.
