Business briefs: Cigarette smuggling

Sales of smuggled and counterfeited cigarettes sold on the black market last year accounted for 10.7 percent of total global tobacco sales, and their sale costs governmentsmore than $40 billion each year in unpaid taxes, according to findings released in Bangkok by experts at an inter-

national conference being held there this week.

HILTON HOTELS

Hilton Hotels Corporation (HLT) has entered into a definitive merger agreement with The Blackstone Group’s (BX) real estate and corporate private equity funds in an all-cash transaction valued at approximately $26 billion. Under the terms of the agreement, Blackstone will acquire all the outstanding common stock of Hilton for $47.50 per share.

Bay to Breakers returns to streets of San Francisco

The 2022 Bay to Breakers got off to a fast start after a pandemic-induced hiatus as runners pounded down Howard…

An Australian gem’s emotional night at the Fillmore

Orchestral arrangements amplify resonance of Gang of Youths’ material

Warriors beat Grizzlies, advance to finals

The Golden State Warriors advanced to the Western Conference finals after a 110-96 win over the Memphis Grizzlies on May…