Stephen Schwarzman, co-founder of Blackstone Group LP, sold stationery as a Yale undergraduate, making enough money to buy a stereo, on which he played the Four Tops and the Beatles, he recalled the other night at a reception for the Oxford-Pershing Square Graduate Scholarships.
For 126 years, the Hong Kong Jockey Club has survived equine flu, bribery scandals, the Japanese invasion and the return to China. Now the operator that takes more money per race than any other faces a bigger challenge: the Internet.
The group chief executive of the Jockey Club , which owns and operates 14 racecourses in the U.K., called for the state-controlled Tote betting business to remain independent instead of being sold as planned.
Tabcorp Holdings Ltd. will pay A$150 million to help facilitate the merger of the Sydney Turf Club and the Australian Jockey Club and to redevelop Randwick racecourse, according to a regulatory filing.
International rules adopted in Australia requiring thoroughbreds to physically mate to produce offspring eligible for racing are seen to illegally curb competition and a lawyer said they should be abolished.
Cheltenham Racecourse, home to the annual jump-racing festival in southwest England, will get a 45 million-pound ($68 million) makeover to improve the viewing experience for spectators, the Jockey Club said.