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MILAN (Reuters) – RCS Mediagroup (RCSM.MI) contested the sale of real estate assets to Blackstone (BX.N) because it believes the U.S. private equity fund paid too little for them in 2013, a source at the Italian media group said on Wednesday. The Italian publisher said late on Tuesday that it had launched arbitration proceedings under Italian law last week to annul the sale of the properties in central Milan that it had sold to Blackstone personalised initial cufflinks uk sale. It gave no further details in its statement. RCS, the owner of influential daily Corriere della Sera, believes Blackstone paid too little for the properties because the media group was in financial difficulties at the time of the sale, the RCS source said..
The publisher contested the sale through a letter in March and then again in July before starting arbitration proceedings last week, the source said. A source close to Blackstone said the private equity group believed that RCS’s attempt to void the sale was “wholly fabricated”. RCS Mediagroup could not immediately be reached for comment personalised initial cufflinks uk sale. Blackstone launched a separate legal case against RCS Mediagroup in New York on Tuesday, alleging a planned sale of the same properties to Allianz (ALVG.DE) was held up by claims from RCS that the transaction was “null and void”, according to a copy of the court documents seen by Reuters..
NEW YORK (Reuters) – Oil prices rose about $1 a barrel a barrel on Wednesday, bouncing from the lowest levels in months, after U.S. government data showed strong demand for refined fuel, but concerns remained over rising global crude supply. Brent crude LCOc1 futures gained 95 cents to settle at $63.48 a barrel, up 1.52 percent. U.S. West Texas Intermediate (WTI) crude CLc1 futures rose $1.20 to settle at $54.63 a barrel, a 2.25 percent gain. U.S. crude stocks USOILC=ECI rose 4.9 million barrels last week, the Energy Information Administration said, a larger-than-expected increase personalised initial cufflinks uk sale. Crude inventories have risen for nine straight weeks, the longest streak since March 2017..
Crude stocks at the Cushing, Oklahoma, delivery hub for WTI USOICC=ECI fell 116,000 barrels, the first drop in nine weeks, EIA said. Gasoline stocks USOILG=ECI fell 1.3 million barrels to the lowest level since December 2017, while distillate stockpiles USOILD=ECI dropped by 77,000 barrels, the EIA data showed personalised initial cufflinks uk sale. “Cushing posted the first decline in a couple of months, a possible portent of some leveling that could drive some support into the WTI curve,” said Jim Ritterbusch, president of Ritterbusch and Associates, in a note..
The overall market remained weak after crude fell more than 6 percent the previous session, while world equities tumbled on worries about economic prospects. Brent has fallen by more than 25 percent since reaching a four-year high of $86.74 on Oct. 3, reflecting forecasts of slowing demand and ample supply from Saudi Arabia, Russia and the United States personalised initial cufflinks uk sale. Worried by the prospect of a new supply glut, the Organization of the Petroleum Exporting Countries is talking about reducing output just months after increasing production..