SWFI First Read, October 25, 2016

Twitter Seeks to Trim Costs, Workforce Reduction

Twitter Inc., which faces a class action lawsuit by law firm Robbins Geller Rudman & Dowd LLP, plans to reduce its workforce by 8% – approximately 300 people, according to Bloomberg. Twitter also failed to find buyers to take it private.

HNA Group Buys Big Stake in Hilton Worldwide Holdings Inc.

The Blackstone Group LP has sold a roughly 25% ownership stake in hotel giant Hilton Worldwide Holdings Inc. for US$ 6.5 billion to Hainan Traffic Control Holding Co Ltd., a unit of Chen Feng’s HNA Group. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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