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This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. India is one of the biggest markets for gold, which plays a key role in its culture. Scramble over port shutdownLogistics firms are left scrambling after the closure of the Port of Baltimore, one of the busiest ports in the U.S. Cocoa prices soarCocoa prices are surging and this could impact consumers as the world struggles with a supply deficit.
Persons: Yen tumbles, Dow, BlackRock's Larry Fink, Francis Scott Key, Richard Meade, Paul, Vahan Janjigian Organizations: CNBC, Nikkei, CSI, Nasdaq, Rabobank, Greenwich Wealth Management Locations: Seng, Blackrock, India, Port of Baltimore, U.S, Baltimore
BlackRock CEO Larry Fink sits down one-on-one with Jim CramerBlackRock CEO Larry Fink sits down with 'Mad Money' host Jim Cramer to talk about getting younger generations prepared for retirement, the annual shareholder letter and inflation.
Persons: Larry Fink, Jim Cramer BlackRock, Jim Cramer Organizations: BlackRock
BlackRock’s chief wants to rethink a fiscal time bombAs the chairman and C.E.O. In his latest letter to investors, published on Tuesday, Fink weighs in on a new topic: a looming global retirement crisis, and what can be done to address it. The way retirement is handled around the world needs to change, Fink writes. In the U.S. in particular, people are living longer, a trend that’s likely to grow given the advent of weight loss drugs like Wegovy, Fink writes. But he adds that four in 10 Americans don’t have $400 in emergency savings, let alone proper retirement funds.
Persons: Larry Fink, Fink Organizations: BlackRock
Fink, the chief executive of BlackRock, used his annual investor letter to warn of a looming "retirement crisis" facing the US and raise his concerns about disillusioned young people. This triggered criticisms on both sides of the aisle and became a major headache for Fink and the firm. He has avoided using the term ESG and repeatedly emphasized that BlackRock works with energy firms. Fink, who is 71 and has kept Wall Street guessing on his own retirement, also got personal with this letter. Fink is focused on "Energy pragmatism"The biggest opportunity in infrastructure, according to Fink, is around energy.
Persons: Larry Fink, Fink, . Fink, I've, Australia Fink Organizations: BlackRock, Business, DuPont, Cal Northridge, University of Michigan, Gen, Global Infrastructure Partners, Texas Permanent School Fund Locations: Calpers, Ottoman Empire, Australia, BlackRock, decarbonization
In an interview with CNBC's Jim Cramer, BlackRock CEO Larry Fink expressed optimism about the next generation despite a looming retirement crisis. "I am bullish on these young people," Fink said. But Fink stressed the seriousness of the retirement crisis, echoing sentiments he wrote about in his annual letter to BlackRock shareholders. "No other force can lift more people from poverty or improve quality of life quite like capitalism," Fink wrote in his letter. Fink said investing is an essential part of helping people save enough money to live well when they stop working.
Persons: CNBC's Jim Cramer, Larry Fink, " Fink, Fink Organizations: BlackRock Locations: U.S
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Finally, Viking Therapeutics soared more than 25% after reporting encouraging Phase 1 results of its oral weight loss pill. The data showed up to 5.3% weight loss at 28 days. Its Phase 2 results up to 14.7% mean weight loss at 36 weeks. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
Persons: Jim Cramer, Larry Fink, It's, Wedbush, Jim, Eli Lilly, Jim Cramer's Organizations: CNBC, BlackRock, Census Bureau, Social Security, Microsoft, Justice Department, Viking Therapeutics
Read previewAmerica has a real retirement crisis on its hands — and there are three things it can do to help solve it, according to BlackRock chief Larry Fink. In his annual letter to investors, the CEO of the world's biggest asset manager pointed to an unfolding crisis for current and future retirees. 46% of Americans aged 55-65 don't have any cash invested in a personal retirement account, according to 2022 Census data. Help retirees spend their savingsMost retirees are uncomfortable dipping into their pile of savings. Give young people a reason to want to investFear is one of the main obstacles preventing young people from investing in their retirement, Fink said.
Persons: , Larry Fink, Fink, " Fink, AARP —, BlackRock, I've, Gen Zers Organizations: Service, BlackRock, Center for Retirement Research, Business, Security, Congressional, Office, Insurance Trust Fund, Social Security, AARP, University of Michigan, America, McKinsey & Company Locations: America, Australia, BlackRock
He said access to investing can help solve this conundrum, while also pondering if the expectation for everyone to receive Social Security benefits at age 65 has become archaic. Worsening the outlook is a Social Security system that's said it will not be able to pay full benefits by 2034. The 71-year-old believes the American retirement system has entered such a deep crisis that it has become a once-in-a-generation issue. That's because this both can benefit individuals and help ensure the long-term health of Social Security. Increasing lifespans create further difficulties when trying to improve the retirement system, Fink said.
Persons: Larry Fink, Fink, that's, it's, Organizations: BlackRock, Social, Census Bureau, Security, Social Security Locations: America, Ottoman Empire
Blackrock CEO Larry Fink on the power of AI
  + stars: | 2024-03-26 | by ( Jim Cramer | ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlackrock CEO Larry Fink on the power of AI"MadRMoney" host Jim Cramer interviews BlackRock CEO Larry Fink on the power and potential of AI tools.
Persons: Larry Fink, Jim Cramer
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Mark your calendars: Apple said it will host its annual Worldwide Developers Conference from June 10 to June 14. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, It's, Jensen, Danaher, Ingersoll Rand, Jim, Larry Fink, Eli Lilly, Fink, Jim Cramer's, Tim Cook, Josh Edelson Organizations: CNBC, Developers, Apple, Nvidia, Vision, ILC Dover, KeyBanc, Dover, Microsoft, Costco, BlackRock, Corp, Cintas, Jefferies, Jim Cramer's Charitable, Apple's Worldwide, AFP, Getty Locations: Cupertino , California
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlackRock CEO Larry Fink: Younger generations don't know who to listen to about retirementCNBC's Jim Cramer speaks with BlackRock CEO Larry Fink about America's retirement crisis and how younger generations can get ahead in their financial lives.
Persons: Larry Fink, Jim Cramer Organizations: BlackRock
Opinion | Supreme Court: Trump Stays on the Ballot
  + stars: | 2024-03-05 | by ( ) www.nytimes.com   time to read: +1 min
Daniel FinkBeverly Hills, Calif.To the Editor:The Supreme Court has decided that an individual state cannot decide who can be on the ballot for a federal election. That would seem to be a reasonable decision, but perhaps a more significant question is whether individual states may adopt their own criteria for who can vote in federal elections. Selective restrictions have already been enacted in many states that will certainly affect the upcoming election. John T. DillonWest Caldwell, N.J.To the Editor:The Supreme Court’s decision to allow Donald Trump to remain on the ballot in Colorado relied in significant part on the potential for hypothetical chaos if each state could make its own determination about the eligibility of a presidential candidate. In doing so, it ignored the real chaos that occurred on Jan. 6, 2021, the same chaos that led the Colorado Supreme Court to order Mr. Trump excluded from the ballot because of his role in the events of that day.
Persons: Clarence Thomas, Daniel Fink Beverly, John T, Dillon West Caldwell, Donald Trump, Jan, Trump Organizations: Ballot, Trump, Colorado Supreme Locations: Daniel Fink Beverly Hills, Calif, N.J, Colorado
Guests like Bill Gates, Mark Zuckerberg, and Ivanka Trump, led to a surge in private jets at the local airport. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . is underway in India, and the local airport is pulling out all the stops to cope. That kind of guestlist brings a long trail of private jets and the local airport in Jamnagar isn't built for it. It said around 50 of them were private jets coming from other countries, meaning passport control for their occupants.
Persons: India's Ambani, Bill Gates, Mark Zuckerberg, Ivanka Trump, , Ambani, Anant, Radhika Merchant, Mukesh Ambani, Ajit Solanki, Sergei Brin, Mexico's Carlos Slim, It's, Larry Fink, Rihanna, Jamnagar isn't, Priscilla Chan, DK Singh Organizations: Service, Bloomberg, Reliance Industries, of, Immigration Locations: India, Jamnagar, Reliance Township, Indian, Gujarat, Davos, of India
A lump started growing under my armpit, and it was noticable enough for my mom to say something. I'm glad I listened to my mom, it turned out to be a rapidly growing benign tumor. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . To me, the lump growing under my armpit for the last two years was something only I could see. AdvertisementMy doctor wasn't worried about my lump, but my mom wasTo me, the lump was an opportunity to turn more heads at parties.
Persons: , I'd, she'd, Oz, wasn't, aren't, I've Organizations: Service
Mark Zuckerberg and his wife Priscilla are attending the lavish Ambani pre-wedding party in India. The Meta CEO appears to be in full vacation mode after being pictured with a floral garland. The event for Anant Ambani and Radhika Merchant is due to feature a performance by Rihanna. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . He appears to be in full vacation mode after flying in with his wife for the Ambani family's extravagant three-day affair.
Persons: Mark Zuckerberg, Priscilla, Ambani, Anant Ambani, Radhika Merchant, Rihanna, , Mukesh Ambani, Anant, He's, Viren Merchant, Isha Ambani, Anand Piramal, Priyanka Chopra, Nick Jonas, Hillary Clinton, Arianna Huffington, Mukesh, Nita, Bill Gates, Ivanka Trump, Zuckerberg, he'd, Larry Fink, Murray Auchincloss, Sundar Pichai, Jay Y, Lee, Rihanna hasn't, Abu Organizations: Service, Encore Healthcare, The, Samsung Electronics, Reuters, India Today, Prix Locations: India, Gujarat, The Times
Opinion | How Biden Can Avenge Navalny’s Death
  + stars: | 2024-02-20 | by ( Bret Stephens | ) www.nytimes.com   time to read: +2 min
President Biden said last week that he was “looking at a whole number of options” to make good on his 2021 warning to Vladimir Putin that Russia would face “devastating” consequences if Aleksei Navalny were to die in prison. As several close Russia watchers told me, however, there’s much more to be done about the first. Browder is best known as the moving force behind the Magnitsky Acts, which put sanctions on Russian officials implicated in corruption and other abuses. And it’s been resisted by U.S. government officials who fear that it exceeds what American law allows and would encourage a flight from dollar assets. As for the flight-from-the-dollar argument, it might otherwise be persuasive if the need to save Ukraine and punish Russia weren’t more urgent.
Persons: Biden, Vladimir Putin, Aleksei Navalny, Putin, ” Bill Browder, Browder, it’s, Larry Tribe, Kaplan, Fink Organizations: Finances, Putin, U.S, Harvard, Heckler, Democracy Locations: Russia, Ukraine
The shake-up targets the $10 trillion money manager's influential group that provides services to high-stakes institutional clients like sovereign wealth funds, insurers, and central banks. The group has ambitions to become "the most trusted advisor to financial institutions in our industry," he wrote. AdvertisementThe FSIG includes the firm's Financial Markets Advisory team and the Financial Institutions Group. It had also historically encompassed the Official Institutions Group, known as OIG, which will no longer be a stand-alone unit, a BlackRock spokesperson confirmed on Tuesday. She has been critical to driving relationships with institutions and "instrumental in making BlackRock the partner of choice for central banks globally," he wrote.
Persons: , Volodymyr Zelenskyy, Charles Hatami, BlackRock's, Hatami, Isabelle Mateos y, OIG, Mateos y, Crystal Wan, Olivier Van Eyseren, Anne Parthiot, Mark Erickson, Kimberly Kim, Erickson, Hiro Shimizu, Philipp Hildebrand, BlackRock's Brandon Hall, Brandon Hall, Ben Leax, Rob Goldstein, FMA, Larry Fink Organizations: Service, Business, BlackRock's Financial, Strategic Investors Group, Business Insider, Financial, Group, BlackRock, International Monetary Fund, FIG, EMEA, Presidential, Brandon Locations: Isabelle Mateos y Lago, Hatami, Europe, Middle East, Africa, Asia, Pacific, Ukraine, Central Asia, US
John Goodman's favorite Coen brothers movie is "Barton Fink" but he feels he could have done better in certain scenes. "A couple of things make me cringe," he told Business Insider. AdvertisementOf all the Coen brothers movies John Goodman has starred in, he says his favorite is 1991's "Barton Fink." In a recent chat for Business Insider's "Role Play" series, Goodman, 71, said he'd "love another shot" at "Barton Fink." This story is available exclusively to Business Insider subscribers.
Persons: John Goodman's, Coen, Barton Fink, he'd, Babe Ruth, , John Goodman, Goodman, John Turturro Organizations: Service, Business Locations: New York, Los Angeles
Read previewThe two executives who have ran BlackRock's influential consulting business since 2020 are each being promoted to new roles at the asset manager, a spokesperson told Business Insider, as BlackRock makes sweeping changes to its leadership ranks across divisions. The firm is naming Brandon Hall as the firm's deputy chief operating officer, reporting to Rob Goldstein, BlackRock's chief operating officer and a prominent leader at the company. He replaces Stacey Mullin, who had held the role since 2022 and was recently named chief of staff to BlackRock Chief Executive Larry Fink. He will report to Charles Hatami, who runs the group known as FSIG and heads up BlackRock's business in the Middle East. Martin Small, now the New York-based firm's chief financial officer, had previously held roles in FMA.
Persons: , Brandon Hall, Rob Goldstein, Stacey Mullin, Larry Fink, Ben Leax, Charles Hatami, FMA, Goldstein, Martin Small, Hatami, Mark Wiedman, Fink, Mark Erickson, Mark Azzopardi Organizations: Service, BlackRock, Business, Financial, Hall, BI, Federal Reserve Bank of New Locations: New York, FMA, Federal Reserve Bank of New York
When you think of John Goodman, you likely picture him as Walter Sobchak, the gun-toting bowling enthusiast from "The Big Lebowski." For the latest installment in BI's "Role Play" series, Goodman discusses his favorite Coen brothers movie, why "Bringing Out the Dead" was a hard movie to make, and the time he called 411 looking for Al Pacino. On his favorite Coen Brothers movie and faking it in his first movie roleYou made your movie debut in 1983 in "Eddie Macon's Run," which stars Kirk Douglas. [Laughs]On working with Al Pacino and the casting rumor about him he's never heard(L-R) John Goodman and Al Pacino in "The Sea of Love." [Laughs]On the movie that felt like he 'wasted a great opportunity'(L-R) John Goodman and Nicolas Cage in "Bringing Out the Dead."
Persons: John Goodman, Walter Sobchak, Dan Conner, Roseanne, Sulley, Rosanne, Goodman, Eli Gemstone, He'll, I've, I'm, Dan, Rosanne Barr, Barr, Coen, Al Pacino, Eddie Macon's, Kirk Douglas, Douglas, Kirk, Barton Fink, It's, Rushmore, Jeff, he's, Uncle Buck, John, Candy, Alfredo Pacino, Pacino, You've, Nicolas Cage, Martin Scorsese's, Dan Aykroyd, Scorsese, He's, he'd, Babe Ruth, Turturro, Eugene O'Neill Organizations: Inc, ABC, Al, Denzel Locations: televangelists, Angeles, Charleston, Laredo , Texas, Denzel Washington, Manhattan
CNN —Attorney Roberta Kaplan said former President Donald Trump threw papers across a table and stormed off during a deposition at Mar-a-Lago after learning that his legal team had agreed to provide her lunch. You could really almost see it,” Kaplan told Republican strategist Sarah Longwell and conservative attorney George Conway, a longtime Trump critic. And stormed out of the room,” Kaplan shared, adding that Trump specifically yelled at his lawyer Alina Habba for providing them lunch. He said, ‘I told you, I told them to make you really bad sandwiches, but they can’t help themselves here. E. Jean Carroll and attorney Roberta Kaplan (R) is seen leaving Manhattan Federal Court on January 26, 2024 in New York City.
Persons: Roberta Kaplan, Donald Trump, Kaplan, Jean Carroll, George Conway, Sarah Longwell, ” Roberta Kaplan Kaplan Hecker, Fink “, ” Kaplan, , ’ ” Kaplan, Trump, Alina Habba, Alina, , , , I’m, ’ ”, ‘ Robbie, Carroll —, Star Max, — Kaplan, that’s, Organizations: CNN, Trump, , Mar, Manhattan Federal Court, GWR, Star, Getty, Defense, eventual Locations: Mar, Lago, Manhattan, New York City
Read previewDonald Trump appears to be treating his planned appeal in the second E. Jean Carroll defamation case like his former reality TV show, "The Apprentice." Tacopina withdrew from Trump's legal team shortly before the second trial began. That left Habba in charge of defending Trump for his second trial, which resulted in a considerably higher jury verdict. Trump, Rahmani said, "probably realizes that he lost the second Carroll trial so badly in part due to Alina Habba's limited trial experience and that he needs experienced appellate counsel." The judge, conscious of Trump's intent to appeal the second trial results, told as much to Trump in the courtroom before he testified.
Persons: , Donald Trump, Jean Carroll, Carroll, defaming, Trump, Lewis Kaplan, Alina Habba, Michael Madaio, Joe Tacopina, Habba, Tacopina, Kaplan, — Habba, Matthew Cronin, Mark Bederow, Madaio, Judge Kaplan, Mary Altaffer Habba, Joshua Matz, Kaplan Hecker, Fink, Kaplan's, Neama, Rahmani, Alina Habba's, Bederow Organizations: Service, Business, Hunts, Manhattan, American System of Justice, Trump, Associates, Trump —, Habba, AP, Kaplan, Fink LLP Locations: Carroll's, Manhattan, New York, Washington
Cramer's Lightning Round: Buy BlackRock
  + stars: | 2024-01-25 | by ( Julie Coleman | ) www.cnbc.com   time to read: 1 min
Stock Chart Icon Stock chart icon SolarEdge's year-to-date stock perforamance. Stock Chart Icon Stock chart icon BlackRock's year-to-date stock performance. BlackRock : "I think you buy it. Stock Chart Icon Stock chart icon Axsome Therapeutics' year-to-date stock performance. Stock Chart Icon Stock chart icon HanesBrands' year-to-date stock performance.
Persons: Enphase, they're, Larry Fink, HanesBrands Organizations: BlackRock, Therapeutics, Axsome Therapeutics
There’s plenty for investors to celebrate right now, but a look under the hood reveals quite a bit of decay. But it’s largely Big Tech that’s driving markets higher, and that concentration of gains in so few stocks carries inherent risk. But investors are adjusting expectations: Investors eventually get used to strong data, and come to expect it. “It’s hard for data to keep surprising in the same direction, since investors simply adjust their expectations,” said Allen. Just one month ago, more than 75% of investors thought the central bank would cut rates at their March meeting.
Persons: Bell, Debbie Downer, Wall, Dow, Germany’s DAX, Henry Allen, , Allen, Christopher Waller, That’s, Bill Gates, Larry Fink, Chris Isidore, “ I’m, Scott Kirby, they’ve, ” Kirby, Boeing Max, Max, Kirby, “ We’re, Samantha Delouya, Amy Reinhard, Netflix’s, , we’ve Organizations: CNN Business, Bell, New York CNN, Nvidia, Microsoft, Investment, Deutsche Bank, Big Tech, Federal Reserve, University of, National Association of Business Economics, University of Michigan, Fed, ” Financial, BlackRock, Boeing United Airlines, Boeing, United, CNBC, Alaska Airlines, Federal Aviation Administration, United Airlines, Refinitiv, Max, FAA, Netflix Locations: New York, Europe
People attend the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, January 18, 2024. Javier MileiArgentina's President Javier Milei delivers a speech at the World Economic Forum (WEF) meeting in Davos on January 17, 2024. Sam AltmanSam Altman, CEO of OpenAI, attends the 54th annual meeting of the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024. He said AGI could be developed in the "reasonably close-ish future," speaking at a private gathering at the Bloomberg House in Davos, Switzerland. AI took a huge leap forward in the last year or two years," Benioff said on a World Economic Forum panel Thursday.
Persons: Denis Balibouse, Donald Trump, Ursula von der, Ursula von der Leyen, Jamie Dimon Jamie Dimon, JPMorgan, Adam Galici, Jamie Dimon, Dimon, Larry Fink's, bitcoin, Volodymyr Zelenskyy, CNBC's Andrew Ross Sorkin, Vladimir Putin, Zelenskyy, Putin, Javier Milei, Fabrice COFFRINI, FABRICE COFFRINI, Fabrice Coffrini, Milei, Adena Friedman Adena Friedman, Adena Friedman, Friedman, Sam Altman Sam Altman, Sam Altman, Altman, Antony Blinken Antony Blinken, CNBC Putin, Antony Blinken, Blinken, Trump's, it's, Christine Lagarde, Emmanuel Macron, Macron, Dmytro Kuleba, Arnd Wiegmann, Trump, Vladimir, Ukraine's, Kuleba, Michelle Yeoh Michelle Yeoh, Mike Coppola, Michelle Yeoh, CNBC's Tania Bryer, Yeoh, Pedro Sanchez Spanish, Pedro Sanchez, Isabel Infantes, Sanchez, Li Qiang Li Qiang, Li Qiang, Li, Isaac Herzog, Kfir Bibas, Herzog, Kfir, Hossein Amir, Abdollahian, Atta Kenare, Joe, Biden, Netanyahu, Amir, Sergio Ermotti, MICHAEL BUHOLZER, Ermotti, Marc Benioff Marc Benioff, Salesforce, CNBC's Sara Eisen, Marc Benioff, Benioff, Ray Dalio Ray Dalio, Bridgewater, Ray Dalio, Dalio, Mark Carney Mark Carney, DANIEL LEAL Organizations: Economic, Reuters, European, JPMorgan Chase, CNBC, BlackRock, Getty, Afp, NASDAQ, CNBC Nasdaq, Reuters OpenAI, Bloomberg, State, European Central Bank, Central Bank, Reuters Ukraine's, United Nations Development, Spanish, Getty Images, Hamas, Palestinian, Hezbollah, Turkish, AFP, Iranian, Sergio Ermotti UBS, Getty Images UBS, Credit Suisse, Bridgewater Associates, U.S, Bank of England, UN, OLIVAS Locations: Davos, Switzerland, Ukraine, Gaza, Russia, China, Moscow, WEF, AFP, OpenAI, U.S, Russian, Iran, Europe, United States, Hollywood , California, Madrid, Spain, Beijing, Washington, Lebanese, Tehran, Israel, Hiroshima
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