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Brookfield-Backed Leela Luxury Hotels to Begin Trading in India
Brookfield-Backed Leela Luxury Hotels to Begin Trading in India

Bloomberg

time3 days ago

  • Business
  • Bloomberg

Brookfield-Backed Leela Luxury Hotels to Begin Trading in India

The operator of the Leela luxury hotels will begin trading in Mumbai on Monday after completing India's second-largest initial public offering this year. Schloss Bangalore Ltd., which is owned by Brookfield Asset Management Ltd., sold its shares at 435 rupees apiece, the top end of their marketed range. The IPO raised 35 billion rupees ($409 million), second only to Hexaware Technologies Ltd.'s billion-dollar deal this year in India.

Odd Lots: Michael Cembalest on why AI Is the Stock Market Bet of the Century
Odd Lots: Michael Cembalest on why AI Is the Stock Market Bet of the Century

Bloomberg

time6 days ago

  • Business
  • Bloomberg

Odd Lots: Michael Cembalest on why AI Is the Stock Market Bet of the Century

Michael Cembalest has been an investment analyst for almost 40 years and his research notes have drawn a cult following on Wall Street. He's known for going super deep into a wide range of topics, like energy and healthcare. And Lately he's been writing a lot about AI, with a particular interest in figuring out whether all the investment in data centers and compute will translate into actual profits. On this episode, we talk to the chair of market and investment strategy for JPMorgan Asset Management about why AI is the market "bet of the century," why the dominance of US big tech can't be overstated, and why he's pessimistic about the outlook for small modular nuclear reactors.

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