Latest news with #BlackRockInc.
Mint
22-07-2025
- Business
- Mint
BlackRock Restricts Use of Company Devices for China Travel
BlackRock Inc. has told staff traveling to China for business trips to use temporary loaner phones and not to bring company laptops, underscoring growing concern among some global firms about employees working there. The world's largest asset manager detailed the 'policy enhancement' on business travel to China in an internal memo seen by Bloomberg News, saying it is effective July 16. The US firm told staff that using BlackRock issued employee devices, including iPhones and iPads, isn't permitted, according to the memo. Using BlackRock laptops or remote access via VPN will also not be allowed. Employees were notified they wouldn't have access to the BlackRock network during personal travel in China. A BlackRock spokesperson didn't immediately reply to requests for comment. The latest changes come amid growing jitters around business travel to China. Wells Fargo & Co. last week suspended travel to China after one of its top trade financing bankers, Chenyue Mao, was blocked from leaving the country. This week, Foreign Ministry spokesman Guo Jiakun said the case was related to a criminal matter. China has also stopped an American citizen who works for the US Commerce Department from leaving the nation for several months, according to media reports. US-China geopolitical tensions have weighed on the global financial industry in recent years, making it increasingly difficult for firms to navigate. Global banks have scaled back their presence in China in the past few years amid slowing economic growth and escalating trade disputes. Since China tightened data security further with two new laws in 2021, global firms have focused on information segregation. Many banks and asset managers have created onshore centers to keep China data in the country as part of global operations, adding costs and hindering management of their Chinese businesses, according to the Asia Securities Industry & Financial Markets Association. BlackRock's presence in China includes a wholly owned mutual fund firm as well as a wealth management joint venture with China Construction Bank Corp.
Time of India
15-07-2025
- Business
- Time of India
Trump to unveil $70 billion in AI and energy investments
President Donald Trump will announce $70 billion in artificial intelligence and energy investments in Pennsylvania on Tuesday, the latest push from the White House to speed up development of the emerging is expected to share details of the new initiatives at an event outside Pittsburgh, according to an administration official, who spoke on the condition of anonymity to discuss the planning. Investments from a range of companies will include new data centers, power generation expansion and grid infrastructure upgrades, along with AI training programs and apprenticeships, the official added. Trump will be joined by Republican Senator David McCormick who's hosting the inaugural Pennsylvania Energy and Innovation Summit at Carnegie Mellon University. AI and energy leaders, including as many as 60 executives, are expected to attend. Among those slated to participate are BlackRock Inc.'s Larry Fink, Palantir Technologies Inc.'s Alex Karp, Anthropic's Dario Amodei, Exxon Mobil Corp.'s Darren Woods and Chevron Corp.'s Mike Wirth, the official said. Blackstone Inc.'s Jon Gray is expected to announce a $25 billion project for data-center and energy infrastructure development and a joint venture to increase power generation, which is expected to create 6,000 construction jobs annually and 3,000 permanent jobs, according to Jake Murphy, a spokesman for McCormick. Blackstone declined to comment. Axios reported the details of summit earlier. The announcements Tuesday would mark the latest step by Trump toward meeting his pledge of ensuring US leadership in artificial intelligence. Since the start of his second term, the president has taken a wide-ranging approach that includes drawing in private-sector investments, moving to ease regulations and accelerating the permit process for new projects. Earlier this year, Trump announced a $100 billion investment in AI data centers from SoftBank Group Corp., OpenAI Inc., and Oracle Corp. The administration has also rescinded Biden-era AI chip curbs as part of a broader effort to boost American innovation and ease US allies' access to advanced technology. The administration's moves are aimed at keeping the US ahead of China in the race for an advantage in AI. China has invested significantly in the emerging technology, and the Chinese startup DeepSeek rattled investors on Wall Street in January with its breakthrough R1 model that suggested AI could be developed for far lower cost. Trump and other administration officials have also stressed the importance of meeting another tech industry priority: ensuring the US has enough power to run energy-hungry AI data centers . In their view, adequate electricity supply is intertwined with national security, essential to keeping the US ahead of global competitors in the race to dominate artificial intelligence. By 2035, data centers are projected to account for 8.6% of all US electricity demand, more than double their 3.5% share today, according to data from Bloomberg NEF. The Trump administration has said expanding the use of coal-fired power, along with electricity from natural gas and nuclear, is needed to help fuel the boom and has warned of future blackouts if the that fails to happen. The US Energy Department has already used emergency authority to keep two-power plants that were slated to close online, and has signaled additional federal intervention may be forthcoming. By hosting the event in Pennsylvania, Trump and McCormick are elevating the political importance of accelerating AI development. The Keystone state is a so-called battleground that former President Joe Biden won in 2020 and Trump took 2024. The event follows the closing of the $14.1 billion acquisition of Pittsburgh-based US Steel Corp. by Nippon Steel Corp., an agreement that ended a bruising takeover battle that was embroiled in American politics for months until finally gaining support from Trump. That deal is expected to domestic steel production and protect thousands of jobs. Both Trump and Biden also jockeyed for the support of union workers, and the deal is opposed by the United Steelworkers union.
Yahoo
08-07-2025
- Business
- Yahoo
If You Invested $1000 in BlackRock a Decade Ago, This is How Much It'd Be Worth Now
How much a stock's price changes over time is important for most investors, since price performance can both impact your investment portfolio and help you compare investment results across sectors and industries. Another factor that can influence investors is FOMO, or the fear of missing out, especially with tech giants and popular consumer-facing stocks. What if you'd invested in BlackRock (BLK) ten years ago? It may not have been easy to hold on to BLK for all that time, but if you did, how much would your investment be worth today? With that in mind, let's take a look at BlackRock's main business drivers. BlackRock Inc., headquartered in New York, offers products that span the risk spectrum, including active, enhanced and index strategies through a variety of structures that include separate accounts, mutual funds, iShares, exchange-traded funds (ETFs) and other pooled investment also offers technology services as well as advisory services and solutions to institutional and wealth management clients. The company manages its clients' assets as a fiduciary. As of March 31, 2025, total AUM was $11.58 manages its AUM through the following categories:Equity: BlackRock's equity AUM reflects the diversity of its business model and includes a wide range of both active and passive strategies. AUM for this class was $6.2 trillion as of March 31, Income: BlackRock's fixed income asset class is evenly divided between passive and active mandates. AUM under this class was $3.01 trillion as of March 31, Class: BlackRock's multi-asset class team manages a range of personalized mandates that leverage its broad investment expertise in global equities, currencies, bonds and commodities and its extensive risk management capabilities. As of March 31, 2025, AUM under this class was $1 BlackRock Alternative Investors manage the company's alternative investment efforts, including product management, business development and client service. AUM under this class was $439.39 billion as of March 31, Management: Cash management products include taxable and tax-exempted money market funds and customized separate accounts. AUM under this class was $930.6 billion as of March 31, 2017, BlackRock acquired the First Reserve Energy Infrastructure Funds and Cachematrix. In 2018, it acquired Tennenbaum Capital Partners and the asset management business of Citibanamex. In 2019, the company acquired Paris-based eFront. In 2021, it acquired Aperio Group LLC and the Climate Change Scenario Model of Baringa Partners. In 2023, the company acquired London-based Kreos Capital. In 2024, it acquired SpiderRock Advisors and Global Infrastructure Partners. In March 2025, it acquired Preqin. Anyone can invest, but building a successful investment portfolio requires research, patience, and a little bit of risk. So, if you had invested in BlackRock ten years ago, you're likely feeling pretty good about your investment today. According to our calculations, a $1000 investment made in July 2015 would be worth $3,140.51, or a gain of 214.05%, as of July 8, 2025, and this return excludes dividends but includes price increases. Compare this to the S&P 500's rally of 199.33% and gold's return of 176.69% over the same time frame. Analysts are anticipating more upside for BLK. BlackRock's shares have outperformed the industry in the past year. Its inorganic expansion strategy, aimed at boosting its presence in lucrative alternatives and private equity assets, alongside product diversification efforts, will likely aid top-line and assets under management (AUM) growth. We expect total revenues and AUM to witness a CAGR of 11.8% and 11.2%, respectively, over the next three years. A solid liquidity position and earnings strength will likely keep capital distribution activities sustainable. However, elevated expenses (primarily due to higher general and administration costs and acquisitions) are a woe. We project expenses to jump 10.9% in 2025. The company's significant dependence on overseas revenues exposes it to geopolitical tensions, diverse regulatory and economic environments, and exchange rate fluctuations. The stock has jumped 8.81% over the past four weeks. Additionally, no earnings estimate has gone lower in the past two months, compared to 3 higher, for fiscal 2025; the consensus estimate has moved up as well. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BlackRock (BLK) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Business Recorder
03-07-2025
- Business
- Business Recorder
Major Gulf Shares rise as steady PMIs signal growth
Major Gulf stock markets rebounded on Thursday, supported by steady non-oil private sector growth and investor optimism around global trade deals following a U.S.-Vietnam agreement ahead of the July 9 tariff deadline. President Donald Trump signed a deal with Vietnam on Wednesday, imposing a 20% tariff on exports to the U.S., lower than the threatened 46% and giving markets reason to hope the impact of the tariffs may be less severe than had been expected for many countries. Saudi Arabia's benchmark index rose 1%, hitting a more than one-month high, with almost all of its constituents posting gains. Saudi National Bank, the kingdom's largest lender by assets, climbed 4.1% and oil major Saudi Aramco added 0.9%. BlackRock Inc. was in talks with Aramco to divest its stake in the leasing rights of a natural gas pipeline network, potentially worth billions of dollars, Bloomberg reported. Reuters could not immediately verify the report. Among other gainers, the retailer Fawaz Abdulaziz Al Hokair & Company, the index's best performer, soared 9.9% and Saudi Telecom added 1.2%. The positive momentum was supported by a healthy domestic outlook, as Saudi Arabia's non-oil private sector expanded at its fastest pace in three months in June, a survey showed on Thursday. Gulf bourses end mixed on US tariff uncertainty The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers' Index rose to a three-month high of 57.2 from May's 55.8, putting it further above the 50-point line denoting growth. Dubai's benchmark index gained 1.4% to 5,748, marking a 17-year high with most sectors in the green. Emaar Properties jumped 3.7% and tolls operator Salik advanced 3.4%. The Abu Dhabi benchmark index rose 0.6%, lifted by gains in most sectors. Presight AI surged 6%, hitting its highest level in nearly two years, and Space42 climbed 4.3%. The UAE's non-oil private sector grew steadily in June even as regional tensions weighed on demand, and companies ramped up output to tackle backlogs, a survey showed on Thursday. Qatar's benchmark index added 0.6%, boosted by a 0.5% increase in the Qatar National Bank. ----------------------------------------- SAUDI ARABIA rose 1% to 11,244 ABU DHABI up 0.6% to 9,981 DUBAI advanced 1.4% to 5,748 QATAR gained 0.6% to 10,759 EGYPT Closed BAHRAIN eased 0.2% to 1,947 OMAN advanced 0.6% to 4,550 KUWAIT up 0.3% to 9,113 -----------------------------------------
Yahoo
12-06-2025
- Business
- Yahoo
BlackRock Targets $400 Billion Private-Market Fundraise by 2030
(Bloomberg) -- BlackRock Inc., the world's largest asset manager, boosted its annual revenue target for 2030 and said it's aiming for $400 billion in private-markets fundraising by then. Shuttered NY College Has Alumni Fighting Over Its Future Trump's Military Parade Has Washington Bracing for Tanks and Weaponry NYC Renters Brace for Price Hikes After Broker-Fee Ban NY Long Island Rail Service Resumes After Grand Central Fire Do World's Fairs Still Matter? The company's 'aspiration' for annual revenue is more than $35 billion in five years, compared with $20 billion in 2024, according to a presentation on its website Thursday. A key part of reaching the new goals will be private markets, where longtime leveraged-buyout titans such as Blackstone Inc. and KKR & Co. traditionally dominate. BlackRock has committed about $28 billion over the past year or so for acquiring private-asset firms to elbow in on the space. The New York-based firm is also looking to double its market capitalization to $280 billion in five years, according to the presentation. American Mid: Hampton Inn's Good-Enough Formula for World Domination New Grads Join Worst Entry-Level Job Market in Years The Spying Scandal Rocking the World of HR Software US Tariffs Threaten to Derail Vietnam's Historic Industrial Boom The SEC Pinned Its Hack on a Few Hapless Day Traders. The Full Story Is Far More Troubling ©2025 Bloomberg L.P.
