Business

Fortress Investment Group and energy-focused private equity firm Kimmeridge are opening Abu Dhabi offices, aiming to make deals and boost assets by leaning on their ties to sovereign wealth fund Mubadala Investment Co.

Kimmeridge and Fortress are opening Wednesday in the city’s ADGM financial district, and both have existing relationships with Mubadala that they’re looking to expand.

Sony Group 6758 -3.17 %decrease; red down pointing triangle reported a rise in fourth-quarter net profit thanks partly to higher earnings from its music and movie businesses.

The Japanese electronics and entertainment company said Wednesday that net profit rose 4.6% from a year earlier to 197.73 billion yen, equivalent to $1.34 billion, for the three months ended March. That beat the estimate of ¥153.6 billion in a poll of analysts by data provider Visible Alpha.

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Millennium Management hired UBS Group AG’s former equity derivatives head for Asia-Pacific, the latest move by the $73 billion investment giant to tap investment bank executives for expansion.

Ernest Ng will join as a senior portfolio manager, according to people familiar with the matter, who asked not to be identified discussing private information. Ng couldn’t be reached for comment. A Millennium representative declined to comment.

Autonomous-driving companies from China and the U.S. are seeking to monetize their technology via ride-hailing services and advanced driver-assistance systems for consumer vehicles. Chinese internet giant Baidu BIDU -0.20 %decrease; red down pointing triangle is preparing to test its driverless ride-hailing service for the first time in Europe, marking its latest effort to expand overseas amid rising competition at home.

SALT LAKE CITY — With the U.S. and China's trade war at the center of business conversations across the nation, U.S. Small Business Administration Administrator Kelly Loeffler on Tuesday paid the Beehive State a visit to talk tariffs. President Donald Trump last week said an 80% tariff on Chinese goods "seems right," suggesting for the first time a specific alternative to the 145% levies he has imposed on Chinese imports ahead of closely watched weekend talks between the two countries. Loeffler's visit to Utah took her to Davis Technical College...

Bank of America BAC.N plans to open more than 150 new branches by the end of 2027, it said on Tuesday, as part of the lender's efforts to expand its physical presence across the United States. The bank will open 40 new branches this year, with an additional 70 sites planned for 2026, it said. Banks in the U.S. have continued to focus on their branch networks despite the surging popularity of digital banking, as they facilitate in-person meetings important for fostering customer relationships. While more than 90% of BofA's...

A spacious house located in the first block of Junewood Court in Danville has a new owner. The 2,389-square-foot property, built in 1972, was sold on April 2, 2025, for $1,730,000, or $724 per square foot. This is a two-story house. Additionally, the house features type not specified. The property occupies a sizable 9,375-square-foot lot. Additional houses that have recently been sold close by include: • On Waterman Court, Danville, in February 2025, a 2,251-square-foot home was sold for $1,990,000, a price per square foot of $884. The home has...

MONTGOMERY, Ala. (WSFA) - At the beginning of 2025, grocery shoppers in some parts of the country were walking on eggshells. However, prices are starting to come back down. The Alabama Egg and Poultry Association says prices in our state are now between $2 and $3 dollars per dozen. “There is two spikes always each year in egg prices that’s usually in November and December with so much baking going on and then also around Easter time so around march and April,” said Associate Director Ray Hilburn. Hilburn says the...

A former first-round pick of the New York Jets is expected to break out in 2025. Longtime former NFL executive Marc Ross listed offensive lineman Olu Fashanu as one of his top “second-year breakout candidates.” “Fashanu evolved into a bright spot over the course of the Jets’ tumultuous 2024 campaign. The team brought the rookie along slowly, as he took over duties along the offensive line when injuries hit the unit. When Tyron Smith’s season ended in November due to a neck injury, Fashanu stepped in as the Jets’ starting...