Hitting a high
Microsoft posted quarterly profit and revenue that beat analysts’ estimates, as more businesses signed up for its Azure cloud computing services and Office 365 productivity suite.
Much of Microsoft’s recent growth has come from its cloud computing business, which has benefited from companies rushing to shift their workloads to the cloud to cut data storage and software costs.
Blackstone builds up
Blackstone Group, the world’s largest manager of assets such as private equity and real estate, is kicking off a fundraising "super cycle" that could result in it managing more than $500bn in assets, says chair and CEO Stephen Schwarzman.
Blackstone has faced questions from investors in recent years over how much room it has to grow after increasing its assets under management fivefold since it became a publicly listed firm in 2007, amassing $439.4bn as of the end of June. This has left it with $88bn in uninvested capital, yet Schwarzman says Blackstone still plans to begin raising new flagship private equity and real estate funds in the coming months.