Latest news with #BlackRock-backed
Yahoo
2 days ago
- Business
- Yahoo
BlackRock-backed firm records shocking revenue growth
BlackRock-backed firm records shocking revenue growth originally appeared on TheStreet. SoFi Technologies (Nasdaq: SOFI), the financial services company, released its financial results for the second quarter of 2025 on July 29. The company's adjusted net revenue for Q2 grew 44% to a record $858 million. Its net income came to $97.2 million, and its adjusted earnings per share (EPS) came to $0.08. The company also announced plans to launch blockchain-enabled global money transfers and a return to crypto investing. SoFi CEO Anthony Noto said, 'We accelerated adjusted net revenue growth to 44% year-over-year, the highest level in over two years, driven by record high new members, as well as new products, and an increase in fee-based revenue."BlackRock (NYSE: BLK), the world's largest asset manager which offers spot Bitcoin ETFs, owns more than $1 billion worth of SOFI shares. However, it is the world's second-largest asset manager, The Vanguard Group, which is the largest SoFi shareholder. Vanguard owns $2.2 billion worth of SoFi shares. The fund manager is also the largest institutional shareholder in Michael Saylor's Strategy (MSTR). Strategy is the world's largest public corporate holder of Bitcoin, holding 628,791 BTC worth more than $74 billion. Unlike BlackRock, Vanguard is skeptical of crypto but is offering indirect crypto exposure through its holdings in companies like SoFi Technologies and Strategy. The SOFI stock closed at $22.40 on July 29, a jump of 6.5% in a day. BlackRock-backed firm records shocking revenue growth first appeared on TheStreet on Jul 29, 2025 This story was originally reported by TheStreet on Jul 29, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Straits Times
4 days ago
- Business
- Straits Times
CK Hutchison says may invite ‘major strategic investor' from China to join mega ports deal
Beijing has viewed the deal as a threat to its interests because it would transfer two ports along the strategically important Panama Canal to the BlackRock-backed group. HONG KONG – CK Hutchison Holdings said it may invite a 'major strategic investor' from China to join the buyer consortium in its plan to sell 43 ports, as investors regain confidence for the company's prospects of completing the troubled transaction. The unnamed investor would join as a significant member of the consortium, the company said in a stock exchange filing on July 28. 'Changes to the membership of the consortium and the structure of the transaction will be needed for the transaction to be capable of being approved by all relevant authorities,' CK Hutchison said, adding that it 'intends to allow such time as is required for such discussions.' Shares of the firm, which oscillated between gains and losses since the company first announced the deal on March 4, reached the highest this year on Friday (July 25) after Bloomberg News reported that state-owned China Cosco Shipping is set to join the buyer consortium that includes US asset manager BlackRock. Although a 145-day exclusivity window for talks between CK Hutchison and the original buyers' group lapsed on July 27, the company's confirmation that a Chinese investor will join is likely to boost expectations. Beijing has so far viewed the deal as a threat to its interests because it would transfer two ports along the strategically important Panama Canal to the BlackRock-backed group, which China sees as a proxy for American influence. US President Donald Trump hailing the transaction as a win for the United States did not help. 'Ongoing negotiations and the reported inclusion of Cosco Shipping in the consortium have likely eased concerns over Chinese regulatory hurdles, strengthening investor confidence in the deal's viability,' according to Bloomberg Intelligence analyst Denise Wong. Top stories Swipe. Select. Stay informed. Singapore Not feasible for S'pore to avoid net‑zero; all options to cut energy emissions on table: Tan See Leng Singapore With regional interest in nuclear energy rising, S'pore must build capabilities too: Tan See Leng Singapore Sewage shaft failure linked to sinkhole; PUB calling safety time-out on similar works islandwide Singapore Workers used nylon rope to rescue driver of car that fell into Tanjong Katong Road sinkhole Singapore New Mandai North Crematorium, ash-scattering garden to open on Aug 15 World Three dead, several injured after train derails in Germany World US and EU clinch deal with broad 15% tariffs on EU goods to avert trade war Asia Displaced villagers at Thai-Cambodian border hope to go home as leaders set to meet for talks China separately warned the parties involved not to bypass antitrust reviews, so as to prevent them from rushing into a deal. As of last week, the buyers' group was considering China Cosco's demand for veto rights to secure Beijing's interests, Bloomberg News reported. CK Hutchison's shares, which shot up 37 per cent in the days following the sale announcement in March, saw political pressure wipe out all the gains in the space of a month. The stock started rallying again in June as investors flocked back after China Cosco came into play. The share price recovery shows investors are increasingly betting on Li Ka-shing, the 96-year-old founder of CK Hutchison, to seal the deal of his lifetime. If it goes through, the sale will net the group more than US$19 billion (S$24.3 billion) in cash. The renewed optimism is largely due to China Cosco's interest in playing a role in the buying consortium, alongside BlackRock and Italian billionaire Gianluigi Aponte's Terminal Investment. Challenges remain even as Cosco enters the discussions, David Blennerhassett, an analyst at Quiddity Advisors, wrote on financial analysis platform SmartKarma. That could reverse the current rhetoric and upset Mr Trump, who has a handful of issues already on his plate, he said. CK Hutchison's share price could also be under pressure should talks on the sale drag on, he added. Investors will be watching out for more answers to questions surrounding the deal, including what role the Chinese side will play in the consortium, said Gary Ng, a senior economist at Natixis. The controversial deal has also weighed on Mr Li and his family's other businesses. Younger son Richard's talks to expand his insurance business into mainland China have stalled after the ports deal upset Beijing, Bloomberg reported earlier in July. That followed another Bloomberg report in March that China told its state-owned firms to hold off on any new collaboration with businesses linked to the Li family. The original structure of the buyer consortium was designed to give the Aponte family-controlled Terminal Investment ownership of all the ports except the two in Panama, whose control will go to BlackRock's Global Infrastructure Partners unit. BLOOMBERG
Business Times
4 days ago
- Business
- Business Times
Investors revive interest in CK Hutchison despite deal delay
[HONG KONG] Investors are regaining enthusiasm for CK Hutchison Holdings despite a delay in the company's plan to sell 43 ports, with optimism fuelled by news that a Chinese shipping behemoth is finding its way into the global deal. Shares of CK Hutchison, which oscillated between gains and losses since the company first announced the deal on Mar 4, reached its highest this year on Friday (Jul 25) after state-owned China Cosco Shipping emerged as a potential new member of the buyer consortium that includes American asset manager BlackRock. Although a 145-day exclusivity window for talks between CK Hutchison and the buyers' group lapsed on Sunday, the possible involvement of China Cosco is boosting expectations that it would nudge the transaction forward. Beijing has so far viewed the deal as a threat to its interests because it would transfer two ports along the strategically important Panama Canal to the BlackRock-backed group, which China sees as a proxy for American influence. 'Ongoing negotiations and the reported inclusion of Cosco Shipping in the consortium have likely eased concerns over Chinese regulatory hurdles, strengthening investor confidence in the deal's viability,' according to Bloomberg Intelligence analyst Denise Wong. China separately warned the parties involved not to bypass antitrust reviews, so as to prevent them from rushing into a deal. As at last week, the buyers' group was considering China Cosco's demand for veto rights to secure Beijing's interests, Bloomberg News reported. CK Hutchison's shares, which shot up 37 per cent in the days following the sale announcement in March, saw political pressure wipe out all the gains in the space of a month. The stock started rallying again last month as investors flocked back after China Cosco came into play. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The share price recovery shows investors are increasingly betting on Li Ka-shing, the 96-year-old founder of CK Hutchison, to seal the deal of his lifetime. If it goes through, the sale will net the group more than US$19 billion in cash. The renewed optimism is largely due to China Cosco's interest in playing a role in the buying consortium, alongside BlackRock and Italian billionaire Gianluigi Aponte's Terminal Investment. Smart move Initially hailed as a smart move by Li to exit a business caught up in global trade tensions, the deal quickly drew the ire of Beijing. With US President Donald Trump billing the transaction as the return of Panama Canal back to American influence, that did not help. Challenges remain even as Cosco enters the discussions, David Blennerhassett, an analyst at Quiddity Advisors, wrote on financial analysis platform SmartKarma. That could reverse the current rhetoric and upset Trump, who has a handful of issues already on his plate, he said. CK Hutchison's share price could also be under pressure should talks on the sale drag on, he added. Even with an extended timeline, revised terms or a partial agreement, uncertainty around the deal's value and timing would increase, said Bloomberg Intelligence's Wong. The delay may also fuel concerns about regulatory and policy challenges, she said. Investors will be watching out for more answers to questions surrounding the deal, including what role the Chinese side will play in the consortium, said Gary Ng, a senior economist at Natixis. The controversial deal has also weighed on Li and his family's other businesses. Younger son Richard's talks to expand his insurance business into mainland China have stalled after the ports deal upset Beijing, Bloomberg reported earlier this month. That followed another Bloomberg report in March that China told its state-owned firms to hold off on any new collaboration with businesses linked to the Li family. The original structure of the buyer consortium was designed to give the Aponte family-controlled Terminal Investment ownership of all the ports except the two in Panama, whose control will go to BlackRock's Global Infrastructure Partners unit. BLOOMBERG
Yahoo
14-06-2025
- Business
- Yahoo
China Wants In: $19B Port Mega-Deal May Flip Global Trade Power
A BlackRock-backed consortium is closing in on one of the year's most sensitive infrastructure deals: the $19 billion purchase of 43 ports from billionaire Li Ka-shing's CK Hutchison Holdings (CKHUF). But now, a twistChina Cosco Shipping , the country's largest state-owned maritime group, is in talks to join the group, according to people familiar with the matter. The consortium, led by Terminal Investment Ltd., the port arm of shipping giant MSC, could see Cosco brought in as a strategic investor to help smooth political frictionespecially around two of the ports that sit at the entrance to the Panama Canal. Warning! GuruFocus has detected 8 Warning Signs with CKHUF. Beijing has pushed back hard against the transaction, seeing it as a potential threat to its global trade footprint. Nationalist newspapers blasted the deal as a concession to U.S. pressure, and regulators reportedly warned state companies to steer clear of Li-linked ventures. But after high-level meetings between U.S. and Chinese officials in Switzerland, the idea of bringing Cosco on board began to gain traction. The Chinese foreign ministry later expressed support for Panama's right to protect its sovereigntywhile subtly pushing back on what it calls economic bullying. The Canal Authority itself isn't thrilled either: it recently raised flags over how concentrated control under MSC and BlackRock might undermine the canal's neutrality. CK Hutchison's exclusivity period for the talks ends in late July, and while a signing target in April has already been missed, momentum appears to be building. Cosco shares popped as much as 6% Friday on news of the discussions, while CK Hutchison rose 1.9%. But deal structure remains a sticking point. Under current terms, MSC would control all ports except the Panama pairthose would go to BlackRock. Even if that changes, MSC is still on track to become the world's largest terminal operator by volume, according to Drewry's Eirik Hooper. Whether Cosco gets a seat at the table could determine not just the deal's fatebut who really controls the future of global trade. This article first appeared on GuruFocus.
South China Morning Post
01-05-2025
- Business
- South China Morning Post
BlackRock-backed Suez taps HSBC to review China assets
French utility group Suez is reviewing its Chinese water-infrastructure assets, people familiar with the matter said, as the company looks at potential ways to streamline its global operations. Advertisement The BlackRock-backed company is working with HSBC Holdings to study options for the business, the people said, asking not to be identified because the deliberations are private. It has approached a select group of potential buyers to gauge their interest, according to the people. A transaction could value the China water business at more than US$1 billion, some of the people said. Suez will soon ask for non-binding bids for the assets, which could attract Chinese firms and infrastructure funds, the people said. Considerations are very preliminary and may not lead to a deal, they said. Suez could decide to keep the assets depending on the offers it receives, the people said. A spokeswoman for Suez said the company is making a market assessment of its operations, though it has no plan to sell its Chinese assets. A representative for HSBC declined to comment. L'Informé reported in February that Suez was debating the future strategy for some of its overseas operations, including whether to divest some Chinese assets. Advertisement Suez entered China's water market in 1975 as one of the first international companies investing in the country's environmental industry, according to its website. It has had a presence in Southeast Asia since 1953 with operations in Singapore, the Philippines, Vietnam and Indonesia, among others.
