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Chinese government entities involved in the effort to regulate data, including the State Council and the Cyberspace Administration of China, didn’t respond to requests for comment. That requirement, at least initially, was largely limited to companies deemed “critical infrastructure providers,” a loosely defined category that has included foreign banks and tech firms. It has built a data center in China for customers of its iCloud service, for data including photos, documents, messages, apps and videos uploaded by Apple users throughout the mainland. Chinese companies have pushed back on previous proposals to open up and centralize their statistics, such as those on customers’ borrowing habits and payment histories. Resisting requests to share more data, China’s tech giants cited a lack of relevant regulations.
Persons: Xi Jinping, Xi, Pony Ma, , Ma, Jack Ma’s, Jason Lee, Tesla, Aly Song, Ryan Fedasiuk, Greg Baker, Chuxing, Meituan, Didi, JD.com, Tesla’s, greenlighted, Tesla’s Gigafactory, Qilai Shen, Lester Ross, Li Keqiang, Jack Ma, Philippe Lopez, Ant, hasn’t, Li Lihui, Tencent, Martin Lau, , Shenzhen’s, Wei Organizations: Communist Party, Tencent Holdings, Holding, ByteDance, Co, State Council, Cyberspace Administration, Reuters, Tesla Inc, U.S, Federal Trade Commission, Data Security, National People’s Congress, EU, Georgetown University’s Center for Security, Emerging Technology, , China, Microsoft Corp, Microsoft, LinkedIn, Agence France, JD.com Inc, Apple Inc, Apple, Citigroup Inc, BlackRock Inc, Citigroup, BlackRock, Bloomberg News, Motorola Mobility, Administration, Baidu Inc, CyberSecurity Association of China, Lawyers, Ant, Ant Group, , of China Ltd, Bloomberg, Shenzhen Locations: Beijing, China, Reuters Beijing, Europe, Russia, Shanghai, U.S, WilmerHale, , Shenzhen, , lingling.wei
The Hedge-Fund Manager Who Did Battle With Exxon—and Won
  + stars: | 2021-06-12 | by ( Justin Baer | Dawn Lim | ) www.wsj.com + 0.74   time to read: +2 min
Christopher James’s decision to do battle with one of the world’s biggest oil companies began with a family dinner in 2019. The hedge-fund manager’s school-aged sons asked him how he could consider himself an environmentalist if he invested in energy companies, and Mr. James said he struggled with his explanation. He contributed nearly $250 million of his own money to support the campaign and launch a new fund called Engine No. The Exxon campaign offered a chance to align his personal values with an investment thesis—that the giants of the oil industry would drop in value unless they embraced a transition to renewable energy. Together the three managers control more than 20% of Exxon’s shares outstanding for investors, according to data compiled by S&P Global Market Intelligence.
Persons: Christopher James’s, James, , Wall, , Organizations: Exxon Mobil Corp, Exxon, BlackRock Inc, Vanguard Group, State Street Global Advisors, P Global Market Intelligence Locations: Illinois
BlackRock Gets Green Light to Start Offering Mutual Funds in China
  + stars: | 2021-06-11 | by ( Quentin Webb | ) www.wsj.com + 0.00   time to read: +2 min
BlackRock, the world’s largest money manager with $9 trillion in assets under management as of end-March, has made expansion in China a priority. It secured a nod from the China Securities Regulatory Commission last August to establish the mutual-fund business, which is now permitted to begin selling funds. “We look forward to sharing our global investment expertise and offering more differentiated investment solutions to Chinese investors,” BlackRock Chairman and Chief Executive Larry Fink said in a statement Friday. BlackRock’s Shanghai-based unit, BlackRock Fund Management Co., now has six months to launch its maiden fund for individual investors, a spokeswoman said. This and future funds are likely to be sold through traditional mutual-fund distribution channels in China, which include banks and brokerages, she added.
Persons: Larry Fink, Rachel Lord, BlackRock’s, , , Goldman Sachs, Dawn Lim, Quentin Webb Organizations: BlackRock Inc, New, JPMorgan Chase &, Goldman Sachs, Inc, BlackRock, China Securities Regulatory, ” BlackRock, Fidelity International, JPMorgan, BlackRock’s, BlackRock Fund Management Co, Asia, China Construction Bank, Temasek . Wealth, Industrial, Commercial Bank of China Ltd Locations: New York, China, Washington, Beijing, U.S, BlackRock’s Shanghai, BlackRock, Asia Pacific, Singapore
STR | AFP | Getty ImagesFrom green energy to equal access to education and technology, investors can find opportunities to make money through these "unstoppable trends," says Citi. Alternative and green energy are "very productive right now" where global trends are concerned, said Ken Peng, head of investment strategy for Asia-Pacific at Citi Private Bank, during a virtual media briefing on Wednesday. He said the most important will be the "unstoppable trends" like climate change and social justice, including providing equal access to education and technology. "So these two things will converge and I think, create an opportunity for investors to make money by doing good." Last month, BlackRock told CNBC that ESG investments could reach $1 trillion by 2030.
Persons: Ken Peng, David Bailin, Bailin, Cybersecurity Organizations: AFP, Getty, Citi, Citi Private Bank, Citi Global Wealth, CNBC, BlackRock Locations: Hami, China, Asia, Pacific, Europe
BlackRock becomes first to operate wholly owned China mutual fund biz
  + stars: | 2021-06-11 | by ( ) www.reuters.com sentiment -0.97   time to read: +2 min
REUTERS/Carlo AllegriBlackRock Inc (BLK.N) has become the first global asset manager licensed to start a wholly owned onshore mutual fund business in China, as the government opens up the country's $3.5 trillion mutual fund industry. China scrapped foreign ownership caps in its mutual fund and securities sectors on April 1, 2020, under a Sino-U.S. trade deal. Several global asset managers, including Neuberger Berman, Schroders PLC (SDR.L) and Fidelity International, have also applied to set up wholly owned mutual fund businesses in China. read moreStill, China's mutual fund market is likely to triple to 60 trillion yuan ($8.75 trillion) in a decade, forecast Shanghai-based fund consultancy Z-Ben Advisors. The New York-headquartered firm also owns a minority stake in a mutual fund venture with Bank of China Ltd (601988.SS).
Persons: Carlo Allegri, Larry Fink, Neuberger Berman, Ben, Peter Alexander, BlackRock's, China Tony Tang Organizations: REUTERS, Carlo Allegri BlackRock Inc, China Securities Regulatory Commission, BlackRock, Schroders PLC, Fidelity International, Vanguard Group, Ben Advisors, Bank of China Ltd, Thomson Locations: BlackRock, Manhattan, New York City , New York, U.S, China, Shanghai, The New York
The largest asset manager explained those strategies and others during its investor day. BlackRock detailed its plans to grow in Asian markets, build up its alternative investments business, and expand its already massive iShares exchange-traded fund business in its first investor day since 2018 on Thursday. During the three-hour investor day presentation, the firm emphasized that clients are increasingly looking to work with fewer asset managers. "The whole portfolio wraps up everything else in our strategy," Wiedman said. Here are selected slides and other key points from BlackRock's investor day.
Persons: Larry Fink, Mark Wiedman, Wiedman Organizations: BlackRock, Aladdin Locations: New York, BlackRock
(Reuters) - DataRobot is in advanced discussions to raise fresh capital of about $500 million in a funding round that could value the machine learning startup at more than $7 billion, according to people familiar with the matter. The COVID-19 pandemic, which has pushed people to work remotely, has accelerated the use of data tools provided by companies such as DataRobot. DataRobot also hired a new chief financial officer, Damon Fletcher, from data visualization software company Tableau as it prepares for a public listing, the sources said. Fletcher, Tableau’s former finance chief, led the company through its $15.7 billion sale to Salesforce in 2019. DataRobot has raised over $740 million to date, according to data platform PitchBook.
Persons: Jeremy Achin, Dan Wright, DataRobot, Damon Fletcher, Fletcher, Rowe Price, Silver Lake Waterman Organizations: Reuters, Tiger Global, DataRobot, United Airlines, Deloitte, BlackRock, NEA, Sapphire Ventures Locations: DataRobot, Boston, Silver
BlackRock's Fink says has no plans to leave, but firm in "good hands"
  + stars: | 2021-06-10 | by ( ) www.reuters.com + 1.00   time to read: 1 min
BlackRock Inc's (BLK.N) chief executive Larry Fink told investors at the asset manager's investor day on Thursday that he has no plans to leave the firm anytime soon, but is confident that when he does it will be "in good hands." Fink, who is chairman and chief executive, founded BlackRock in 1988 along with seven partners, according to the firm's website. BlackRock executives also detailed during the presentation the firm's push into private market investments, which recorded 18% revenue growth for the company last year. Our Standards: The Thomson Reuters Trust Principles.
Persons: BlackRock, Larry Fink, " Fink Organizations: BlackRock, Thomson
BlackRock outlines investment push into private markets
  + stars: | 2021-06-10 | by ( Kate Duguid | ) www.reuters.com + 0.99   time to read: +2 min
Larry Fink, Chief Executive Officer of BlackRock, takes part in the Yahoo Finance All Markets Summit in New York, U.S., February 8, 2017. REUTERS/Lucas JacksonBlackRock Inc (BLK.N), the world's largest asset manager, is pushing more aggressively into private market investments, the firm detailed at an investorpresentation on Thursday. BlackRock, in its investor day presentation on Thursday, said alternative investments - including private equity, real estate, hedge funds and venture capital - can offer a market-beating edge. Private market investments recorded 18% revenue growth for the company last year, twice the rate of the broader industry. A spokesperson for BlackRock said this has picked up momentum since the firm in May received a license in China for a majority-owned wealth management venture, the country's fast-growing asset management market.
Persons: Larry Fink, Lucas Jackson, Joe Biden's, Fink Organizations: Yahoo Finance, REUTERS, Lucas Jackson BlackRock Inc, BlackRock, CNBC, Thomson Locations: New York, U.S, BlackRock, China
Swedish payments firm Klarna has raised $639 million from a group of investors led by SoftBank's (9984.T) Vision Fund II, lifting its valuation to about $46 billion - higher than several of the region's major banks. The current round was led by SoftBank, joined by existing investors such as Adit Ventures, Honeycomb Asset Management and WestCap Group. Reuters reported last month that Klarna was close to raising a new round of funding at a valuation close to $50 billion. The company, whose CEO is Sebastian Siemiatkowski, is among the largest players in the global BNPL sector with over 90 million global active users, and processes 2 million transactions a day. Klarna, founded in 2005, took eight years to reach a valuation of $1 billion, but less than 12 months to go from being valued at $5.5 billion to within touching distance of $50 billion.
Persons: Klarna, SoftBank's, SoftBank, Snoop Dogg, Sebastian Siemiatkowski Organizations: Adit Ventures, WestCap, Sequoia, Commonwealth Bank of Australia, Ant Group, Reuters, Thomson Locations: Silver, Dragoneer, Permira, BlackRock
Asset Managers in Europe Look for Deals to Bulk Up
  + stars: | 2021-06-10 | by ( Julie Steinberg | ) www.wsj.com + 0.71   time to read: +1 min
Asset managers in Europe are doing deals and gaining scale. Some 32 deals worth $5.2 billion have been announced so far this year. The latest deal on the block: Dutch insurer NN Group NV is looking to sell its NN Investment Partners asset-management arm. Deutsche Bank AG’s asset-management unit, DWS Group GMBH, and French banking giant BNP Paribas SA are both potential bidders, according to bankers familiar with the deal process. Europe has a deep pool of savings and the business of managing money is increasingly bifurcating between specialist boutique asset managers and bigger players that have scale to keep costs low.
Organizations: Investment Partners, Deutsche Bank, DWS, BNP Paribas SA, BlackRock Inc Locations: Europe, East, Africa
BlackRock, the largest money manager, is an increasingly influential player in Washington, DC. BlackRock, the world's largest investment manager, has become an increasingly influential Wall Street player in Washington, DC as a poster child of the revolving door between finance and politics. Former BlackRock investment executive Brian Deese leads Biden's National Economic Council, effectively serving as his top advisor on economic matters. BlackRock controls $9 trillion, making it the largest money manager in the world. BlackRock Chief Executive Larry Fink was reportedly under consideration by 2016 presidential candidate Hillary Clinton to run the Treasury Department.
Persons: Joe Biden's, Brian Deese, Biden, Wally, Adeyemo, Larry Fink, Michael Pyle, Obama, Kamala Harris, Goldman Sachs, BlackRock isn't, Read, it's, Fink, Robert Kapito, Barbara Novick, BlackRock's, Larry Fink's, Aladdin, Deese, Barack Obama, Pyle, Thomas Donilon, Mike, Biden's, BlackRock, Dalia Blass, Blass, Coryann Stefansson, FMA, that's, Bear Stearns, Chuck Grassley, Morningstar, , Hillary Clinton, David Rubenstein, I've, I'm, Merrill Organizations: BlackRock, Washington , DC, Insider Finance, New, Economic Council, Treasury Department, Wall, Aladdin, Financial Times, Street Global Advisors, Apple, Microsoft, National Economic Council, Management, State, Securities and Exchange Commission, Federal Reserve Board, Federal Reserve Bank of New, BlackRock's Financial, LinkedIn, Federal Reserve, Federal, Federal Reserve Bank of New York, Bear, AIG, Republican, New York Times, Fidelity, Vanguard, Exxon, DC, Barclays Global Investors, Barclays, Merrill Lynch Investment Management, Biden Locations: Washington ,, BlackRock, Washington, New York, China, Federal Reserve Bank of New York, California, eFront
The investor, a hedge fund called Engine No. The tiny firm wouldn’t have had a chance were it not for an unusual twist: the support of some of Exxon’s biggest institutional investors. BlackRock, Vanguard and State Street voted against Exxon’s leadership and gave Engine No. These huge investment companies rarely side with activists on such issues. 1’s victory shows there is a path for shareholder activism to change how companies approach issues like racial diversity and the environment, often considered distractions from producing profits.
Persons: Matt Phillips Organizations: Exxon Mobil, BlackRock, Vanguard, State Street, Exxon, The New York Times, Observers
Racial diversity stagnated on corporate boards, study finds
  + stars: | 2021-06-10 | by ( ) www.cnbc.com + 0.00   time to read: +7 min
But in the two preceding years, progress on increasing racial diversity on boards stagnated, a new study revealed Tuesday. An overwhelming 82.5% of directors among Fortune 500 company boards are white, according to the Missing Pieces Report: A Board Diversity Census of Women and Minorities on Fortune 500 Boards. In contrast, the number of racial minorities on Fortune 500 boards rose by just above a percentage point. Over the past year, more pressure has arisen for boards to focus on racial diversity. But a Vanguard spokeswoman said the investing giant believes "there is no one-size-fits-all mandate for board diversity" and will evaluate each board individually.
Persons: Richard Wyatt, Black, George Floyd, Linda Akutagawa, Gavin Newsom, Carey, Eli Kasargod, Staub, boardrooms, BlackRock, Benjamin Colton Organizations: Station, U.S, Alliance of Board, Deloitte, Fortune, Women, Minorities, ISS Corporate, Alliance for Board Diversity, California Gov, Nasdaq, Securities and Exchange Commission, Deloitte's Center, Financial Times, Service Employees International Union, BlackRock, ISS Analytics, Vanguard, Street Global Advisors Locations: boardrooms, California, Wall, State
DataRobot is in advanced discussions to raise fresh capital of about $500 million in a funding round that could value the machine learning startup at more than $7 billion, according to people familiar with the matter. The COVID-19 pandemic, which has pushed people to work remotely, has accelerated the use of data tools provided by companies such as DataRobot. DataRobot also hired a new chief financial officer, Damon Fletcher, from data visualization software company Tableau as it prepares for a public listing, the sources said. Fletcher, Tableau's former finance chief, led the company through its $15.7 billion sale to Salesforce in 2019. DataRobot has raised over $740 million to date, according to data platform PitchBook.
Persons: DataRobot, Jeremy Achin, Dan Wright, Damon Fletcher, Fletcher, Rowe Price, Silver Lake Waterman Organizations: Tiger Global, DataRobot, United Airlines, Deloitte, BlackRock, NEA, Sapphire Ventures, Thomson Locations: DataRobot, Boston, Silver
FILE PHOTO: A 2021 Lordstown Motors Endurance truck is pictured at the White House in Washington D.C. behind former U.S. President Donald Trump and two Lordstown employees. On Wednesday, Lordstown officials had no immediate comment, but Burns has scheduled an appearance with the Automotive Press Association next Tuesday. When Lordstown announced the SPAC deal, it boasted its electric truck would be first to market to serve commercial fleet customers. After Hindenburg’s report, Lordstown said the orders were nonbinding and on Tuesday it said it had no binding purchase orders. General Motors Co, which invested $25 million in cash in Lordstown and another $50 million in in-kind contributions including the Ohio plant, declined to comment.
Persons: Donald Trump, Carlos Barria, Lordstown, Steve Burns, Burns, Lordstown’s, Hindenburg, Nathan Anderson, Joseph Spak, COVID, Ford, Hermes Kaufmann Organizations: DETROIT, Lordstown Motors Corp, Motors, White, Washington D.C, REUTERS, Endurance, Automotive Press Association, DiamondPeak Holdings, Hindenburg Research, U.S . Securities, Exchange Commission, SEC, RBC Capital Markets, U.S . Department of Energy, DOE, Energy, Ford Motor Co, Ford’s, Fidelity Management & Research Co, Wellington Management Co, Fund, BlackRock Inc, BlackRock, General Motors Co Locations: WASHINGTON, Washington, Washington , U.S, U.S, Ohio, Hindenburg, Lordstown
A 2021 Lordstown Motors Endurance truck is pictured at the White House in Washington D.C. behind former U.S. President Donald Trump and two Lordstown employees. Lordstown in a Wednesday statement reaffirmed it has "adequate capital to continue operations, meet supplier obligations and begin limited production," but will need to raise additional funds and was in talks to do that. read moreLordstown's situation has raised doubts about forecasts the company made on Aug. 3, 2020, when it announced its deal to go public through a reverse merger with special-purpose acquisition company (SPAC) DiamondPeak Holdings. When Lordstown announced the SPAC deal, it boasted its electric truck would be first to market to serve commercial fleet customers. Investors in the initial SPAC deal included Fidelity Management & Research Co, Wellington Management Co, Federated Hermes Kaufmann Small Cap Fund and BlackRock Inc (BLK.N).
Persons: Donald Trump, Carlos Barria, Lordstown, Steve Burns, Lordstown's, Burns, Hindenburg, Nathan Anderson, Joseph Spak, COVID, Ford, Hermes Kaufmann Organizations: Motors, White, Washington D.C, REUTERS, Lordstown Motors Corp, Endurance, DiamondPeak Holdings, Hindenburg Research, U.S . Securities, Exchange Commission, SEC, RBC Capital Markets, U.S . Department of Energy, DOE, Energy, Ford Motor, Ford's, Fidelity Management & Research Co, Wellington Management Co, Fund, BlackRock Inc, BlackRock, Thomson Locations: Washington, Washington , U.S, U.S, Ohio, Hindenburg
Column: Inflation warnings are mostly 'just in case'
  + stars: | 2021-06-09 | by ( Mike Dolan | ) www.reuters.com + 0.00   time to read: +6 min
LONDON (Reuters) - As grandees of the investment world fall over themselves to warn of long-absent inflation up ahead, financial markets appear ever calmer about the risks of that new regime unfolding. Echoing that mantra from major central banks, the World Bank on Tuesday said the 1% jump in world inflation forecast for this year wouldn’t warrant a policy change as long as inflation expectations stay under wraps. For all their eye-catching red flags, investment banks are just hedging their bets to some degree. Deutsche Bank’s economists this week said their central scenario was that the inflation resurgence would be temporary and benign. Given the scale of debt accumulated during the pandemic, “neglecting inflation leaves global economies sitting on a time bomb.”Others already have a new inflation regime as a base case.
Persons: Lucy Nicholson, , it’s, , Jim Wood, Smith, Reagan, Volcker, ” Deutsche’s David Folkerts, Landau, Peter Hooper, Jim Reid, Pascal Blanque, Amundi, Larry Fink, Morgan Stanley Organizations: REUTERS, United, Federal Reserve, World Bank, Hawksmoor Investment Management, Deutsche, BlackRock, U.S, CPI Locations: Beverly Hills , California, U.S, United States
COLUMN-Inflation warnings are mostly 'just in case' :Mike Dolan
  + stars: | 2021-06-09 | by ( Mike Dolan | ) www.reuters.com + 0.00   time to read: +6 min
Thursday will likely see the United States record the highest consumer price inflation rate in 13 years - just shy of 5% - and the fastest rate since 1993 if food and energy prices are cut out. Echoing that mantra from major central banks, the World Bank on Tuesday said the 1% jump in world inflation forecast for this year wouldn’t warrant a policy change as long as inflation expectations stay under wraps. For all their eye-catching red flags, investment banks are just hedging their bets to some degree. Deutsche Bank’s economists this week said their central scenario was that the inflation resurgence would be temporary and benign. And sub-2.5% inflation expectations over 5- and 10-year bond market horizons show that current CPI prints are still seen as a blip over time.
Persons: , it’s, , Jim Wood, Smith, Reagan, Volcker, ” Deutsche’s David Folkerts, Landau, Peter Hooper, Jim Reid, Pascal Blanque, Amundi, Larry Fink, Morgan Stanley Organizations: Reuters, LONDON, United, Federal Reserve, World Bank, Hawksmoor Investment Management, Deutsche, BlackRock, U.S, CPI Locations: United States
Exxon’s Board Defeat Signals the Rise of Social-Good Activists
  + stars: | 2021-06-09 | by ( Matt Phillips | ) www.nytimes.com sentiment -1.00   time to read: +2 min
Originally known as “corporate raiders” or “greenmailers” — a portmanteau of “greenback” and “blackmail” — activist investors historically weren’t thought of as a force for good. The activists then tended to dump their shares, pocket the profits and move on to the next target. For about three years, he owned a large stake in Apple and agitated repeatedly for the company to raise its stock buyback program. Like dividends, stock repurchase plans are a way for companies to return cash to their shareholders. In recent years, activist investors have adjusted their approach, as firms such as ValueAct and Third Point have sought more strategic changes in a company’s long-term strategy.
Persons: , Nelson, Carl Icahn Organizations: Vanguard, Fund Management, Apple Locations: BlackRock
BlackRock's Russ Koesterich on why he doesn't like gold
  + stars: | 2021-06-09 | by ( ) www.cnbc.com + 0.65   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlackRock's Russ Koesterich on why he doesn't like goldRuss Koesterich, BlackRock Global Allocation Fund portfolio manager, joins ‘Closing Bell’ to discuss why he doesn't like gold as an investment. He also offers his thoughts on inflation.
Persons: Russ Koesterich, Bell Locations: BlackRock
BlackRock's Russ Koesterich on inflation lasting several quarters
  + stars: | 2021-06-09 | by ( ) www.cnbc.com sentiment -0.99   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlackRock's Russ Koesterich on inflation lasting several quartersRuss Koesterich, BlackRock Global Allocation Fund portfolio manager, joins ‘Closing Bell’ to discuss markets and inflation, adding that inflation will last several quarters.
Persons: Russ Koesterich, Bell Locations: BlackRock
BERLIN (Reuters) - Online brokerage Scalable Capital said on Tuesday it had raised 150 million euros ($183 million) from investors led by China’s Tencent, becoming the latest German fintech to attract sizable funding. The funding round, backed by existing investors including fund manager BlackRock Inc, values Scalable Capital at $1.4 billion and comes on the heels of a $900 million raise by rival online broker Trade Republic. Scalable will invest the proceeds in developing its brokerage and wealth management businesses as it sets its sights on becoming Europe’s leading online investment platform, its co-CEO and co-founder, Erik Podzuweit, told Reuters. Active since 2016, Scalable has more than $5 billion in assets under management with its robo-adviser offering of exchange-traded funds for investors and flat-rate subscriptions of 2.99 euros a month for day traders. Headquartered in Munich and with an office in London, Scalable is opening a new location in Berlin as it seeks to strengthen its engineering and marketing teams.
Persons: China’s Tencent, Erik Podzuweit, Podzuweit, Futu, millennials, , Goldman Sachs, Florian Prucker, Adam French Organizations: BERLIN, BlackRock, Trade, Reuters, Nasdaq Locations: Trade Republic, Berlin, Germany, Austria, France, Italy, Spain, Munich, London
LONDON (Reuters) - For Bank of England chief Andrew Bailey, tackling climate change carries inflation risks if you do too little, too late. Set against that, however, is both the possibility that climate change policy could actually lower prices for certain goods and services and the risk that doing nothing at all could spur other inflationary pressures tied to faster climate change. Vulnerable developing economies have for years felt the impact of climate change on their farming and other sectors. Now, rich economies are starting to see price challenges linked to weather events and climate change policy, according to Katharine Neiss, chief European economist at PGIM Fixed Income. Ultimately, the climate challenge implies massive changes for the global economy either way - and rising inflation may be the least of our worries.
Persons: Andrew Bailey, Larry Fink, Mike Hutchings, Bailey, , Fink, Silvia Dall’Angelo, Christine Lagarde, Jerome Powell, Katharine Neiss, Wei Li, Jean Pisani, Nicholas Stern Organizations: Bank of England, REUTERS, Glasgow, United Nations, Reuters, Financial, Federated Hermes, Central Bank, OUR, Federal Reserve, Global Chief Investment, BlackRock Investment Locations: BlackRock, South Africa, Europe, Federated, French
After briefly retiring, former BlackRock stock chief Bob Doll is back in the game, this time with Crossmark Global Investments. Doll shared with Insider the seven best opportunities he sees in stocks right now. He also broke down why he doesn't like the S&P 500 at the moment, despite not seeing a bubble. Many major investment banks are essentially advising against owning the S&P 500 index. Bank of America7 opportunities in the market right nowDespite opportunities drying up and the overall market being "expensive," Doll still sees areas where investors can find returns.
Persons: Bob Doll, Doll, Michael Jordan, Rob Gronkowski, Bob Doll wasn't, Crossmark —, , Oppenheimer, they'd, hasn't, they've, It's, we've, He's Organizations: BlackRock, Crossmark Global Investments, Bank of America, Investors, Index, Fidelity, Invesco DB Base Metals Fund, COVID, International Stock ETF Locations: Crossmark
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