BlackRock Inc

US companies are discussing cost control on earnings calls at a record rate, amid a push to reallocate funds and invest in new technologies, according to an analysis by Morgan Stanley strategists.Transcript mentions of “operational efficiency” are at highest ever in the US during this earnings season as companies focus on expense discipline, but also invest in technologies “that can drive future productivity like AI,” a team led by Michael Wilson wrote in a note. There is a notable overlap among the industries discussing…

BlackRock Inc., the world’s largest asset manager, said Friday it has struck a deal to buy Global Infrastructure Partners (GIP), where the Nigerian lawyer and investment banker, Adebayo Ogunlesi, is the chairman and CEO. The deal is said to be worth $12.5 billion. The transaction will involve a combination of cash and equity, with BlackRock paying $3 billion in cash and roughly 12 million shares, valued at $9.5 billion at the close of trade on Thursday. Among the terms of the deal, which is expected to reach…

Monitors display Coinbase signage during the company's initial public offering at the Nasdaq MarketSite in New York on April 14, 2021.Michael Nagle | Bloomberg | Getty ImagesFor crypto bulls, the most lucrative bets in 2023 were in the stock market.While bitcoin rallied over 150% for the year, shares of Coinbase, MicroStrategy and the Grayscale Bitcoin Trust, which are all tied closely to the digital currency, did substantially better, rising more than 300% in value. Bitcoin miner Marathon Digital soared 688%.Not only…

For many who trade cryptocurrencies for a living, the events of a year ago are forever etched in memory.  “The worst day of my career, and one of the worst days of my life — the day FTX froze withdrawals,” is how Travis Kling, who runs Ikigai Asset Management, described it in a series of tweets on Nov. 7. Four days later, Sam Bankman-Fried's exchange filed for bankruptcy, ushering in arguably the darkest days in crypto's history. “The first weeks were incredibly brutal. I didn't sleep much at all. Feelings of terror,…

U.S. electric vehicle maker Lucid Group will set up its first overseas factory in Saudi Arabia, the company announced.Javier Blas | Bloomberg | Getty ImagesWhen BlackRock, the world's largest asset manager, announced this week it was adding the head of the world's largest oil company, Saudi Aramco, to its board of directors, some investors might have been caught off guard given BlackRock's leading role in the market when it comes to investing in a low-carbon future. But CEO Larry Fink, who has been under intense pressure…

China is requiring U.S. and other foreign-owned companies to host groups that monitor their compliance with Chinese Communist Party orthodoxy, FBI Director Christopher Wray said in congressional testimony Wednesday.It's one way in which the Chinese government has "exploited" joint business ventures in order to obtain companies' secrets and information, Wray told the House Judiciary Committee."There is no country, none, that presents a broader, more comprehensive threat to our ideas our innovation our economic security…

Bob Michele, Managing Director, is the Chief Investment Officer and Head of the Global Fixed Income, Currency & Commodities (GFICC) group at JPMorgan.CNBCTo at least one market veteran, the stock market's resurgence after a string of bank failures and rapid interest rate hikes means only one thing: Watch out.The current period reminds Bob Michele, chief investment officer for JPMorgan Chase's massive asset management arm, of a deceptive lull during the 2008 financial crisis, he said in an interview at the bank's New…

Rick Rieder, BlackRock's Chief Investment Officer of Global Fixed Income, speaks during a Reuters investment summit in New York, November 7, 2019.Lucas Jackson | ReutersNEW YORK – When the bond chief of the world's biggest asset manager looks at the U.S. right now, he sees a lot to like.A combination of resilient government, corporate and consumer spending, improving homebuilder data, $1.5 trillion in excess savings and low unemployment tell BlackRock's Rick Rieder that the American economy is faring better than many…

Republican presidential candidate businessman Vivek Ramaswamy speaks to guests at the Iowa Faith & Freedom Coalition Spring Kick-Off on April 22, 2023 in Clive, Iowa.Scott Olson | Getty ImagesRepublican presidential hopeful Vivek Ramaswamy built his White House bid around urging companies to stay out of politics.What he doesn't tell voters is the asset management firm he co-founded has engaged more with Republican Party officials behind the scenes than was previously known, according to private email correspondence…

Climate activists with Stop the Money Pipeline hold a rally in New York City to urge companies to end their support for the proposed Line 3 pipeline project and stop funding fossil fuels and forest destruction, April 17, 2021.Erik McGregor | LightRocket | Getty ImagesIn October, Scott Fitzpatrick, then-treasurer of Missouri, announced his state would pull $500 million out of pension funds managed by BlackRock.He said he would move Missouri's money away from the asset manager because it was "prioritizing" environmental,…