BlackRock

Trouble for edtech major Byjus continues. The world's largest asset manager, BlackRock, has again slashed Byju’s valuation, this time to $8.2 billion. With this, the company's valuation is down 62.7% from $22 billion when it last raised fresh capital in October 2022. BlackRock marked down Byju's valuation three months after it first reduced the value of its holdings in the Indian company. BlackRock now owns less than 1% in Think and Learn Pvt Ltd, the parent company of Byju’s.Regulatory filing in US securitiesIn a…

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…

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Watch out, woke investors—Ron DeSantis is coming to get ya, even if it means screwing over his own constituents.Republicans Create Culture War Over… Stoves On Tuesday, DeSantis signed into law a bill that forbids state and local governments in Florida from investing public money into funds and entities that consider environmental, social, and governance factors—or ESG. House Bill 3 is a sweeping law with lots of implications for both money within the state as well as the GOP’s larger culture wars.The origins of bills like…

This story was originally published by Grist. Sign up for Grist’s weekly newsletter here.A Transformer Is Headed to the MoonFossil fuel projects require money — and that money is coming from the world’s top private banks, including many with net-zero climate pledges. That’s according to a new report from the Rainforest Action Network, which looked at the major financial institutions funding oil and gas infrastructure since the 2015 Paris Agreement.“Banks and financial institutions need to be held accountable for their…

Woke Alerts criticize different companies and organizations for adhering to climate pledges and sustainable actions, promoting diversity, or featuring LGBTQ+ stances. Image: Wachiwit (Shutterstock)Nothing gets the conservatives riled up quite like companies promoting progressive values. As a result, a conservative nonprofit named Consumers’ Research is providing “Woke Alerts” to notify you when your favorite company goes too woke.2,807 Lego Pieces Later…We Have The Mighty Bowser™ | io9 BuildsConsumers’ Research currently…

US investors marked down the value of their holdings in Byju’s and Swiggy last year, according to recent US filings. BlackRock slashed the value of its investment in Byju’s by nearly 50%, while Invesco marked down its investment in food delivery firm Swiggy by 23%.BlackRock pegged the per-share value of Byju's at $2,400 at the end of December 2022, down from $4,600 in April last year, putting the company’s valuation at a little over $11 billion.The world’s largest asset manager, BlackRock owns less than 1% in the firm.…

Too Long; Didn't ReadThe freelance industry is worth $3.39 billion, according to the World Bank. The top 15 shareholders of Upwork have a combined ownership of 50% of the company. Upwork freelancers made more than $2B in 2019. Shareholders care only about the money, so, freelelancers are safe. Too Long; Didn't ReadThe freelance industry is worth $3.39 billion, according to the World Bank. The top 15 shareholders of Upwork have a combined ownership of 50% of the company. Upwork freelancers made more than $2B in 2019.…

Calling all asset managers, mid-tier bank employees, and financial sustainability advocates: You’re in league with the Devil, according to Utah’s State Treasurer.Marlo Oaks, who was appointed to the Treasurer position in 2021 and reelected in 2022, told a crowd over the weekend that environmental social governance, or ESG—the practice of making investments using social and environmental principles—is an “outcomes-based” plan, like the biblical “war in Heaven.” The comments, which were first reported by the Salt Lake…

The entity that once owned the poor, beleaguered Silicon Valley Bank, the main banking house for numerous tech-focused firms and venture capitalists, is officially holding up a white flag as it suddenly declared bankruptcy.On Friday, SVB Financial Group declared Chapter 11 bankruptcy in Manhattan bankruptcy court. According to the bankruptcy filings, the bank’s parent entity marked it had between 1,000 and 5,000 creditors. Chapter 11 is often called “reorganizational” bankruptcy, as the company is supposed to use the…