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☆ BlackRock's Larry Fink says India's love for gold has done little for its economy and investors
▼ + stars: | 2024-03-27 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

India's fondness for gold has neither benefited its economy nor generated decent returns for investors, BlackRock Founder and Chairman Larry Fink said in his annual letter to shareholders of the world's largest asset manager. Nor has investing in gold helped the country's economy," Fink said. The country's central bank, the Reserve Bank of India, purchased 4.7 tons of gold in February, taking its gold reserves to an all-time high of 817 tons, according to data from World Gold Council. Kavita Chacko, research head of India at World Gold Council, however, said recent record highs in gold prices could hurt demand for the precious metal in India. Indians' love for gold aside, the country's stock markets have been one of the biggest gainers in the Asia-Pacific region with major institutional investors positive on Indian stocks that have hit record highs multiple times this year.

Persons: Larry Fink, " Fink, Fink, Kavita Chacko, Chacko, — CNBC's Lee Ying Shan Organizations: BlackRock, Reserve Bank of India, World Gold, World Gold Council Locations: India, American, Asia, Pacific

☆ CNBC Daily Open: Baltimore port shutdown a major disruption
▼ + stars: | 2024-03-27 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

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 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

☆ BlackRock CEO Larry Fink: Younger generations don't know who to listen to about retirement
▼ + stars: | 2024-03-26 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

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

☆ Larry Fink is concerned about the youth. Here are 5 key takeaways from the BlackRock CEO's letter to investors.
▼ + stars: | 2024-03-26 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +8 min

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

☆ What's behind Danaher's decline, plus high hopes for Apple's developers event
▼ + stars: | 2024-03-26 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

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

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

☆ BlackRock's Larry Fink says young people have a lot going for them, but retirement crisis looms
▼ + stars: | 2024-03-26 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

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

☆ 3 things America can do to solve its retirement crisis, according to BlackRock chief Larry Fink
▼ + stars: | 2024-03-26 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

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

☆ BlackRock's Larry Fink sees Social Security crisis, says 65 retirement age 'a bit crazy'
▼ + stars: | 2024-03-26 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

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

☆ Viking jumped 25% on early weight loss pill data. We still prefer Eli Lilly
▼ + stars: | 2024-03-26 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

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

☆ BlackRock CEO Larry Fink sits down one-on-one with Jim Cramer
▼ + stars: | 2024-03-26 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

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

☆ A garland-wearing Mark Zuckerberg arrives for a glitzy Indian wedding celebration — and boy is he in full vacation mode
▼ + stars: | 2024-03-01 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

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

☆ An Indian mega-party is attracting so many private jets that officials set up extra passport control for all the VIPs
▼ + stars: | 2024-03-01 | by ( Kieran Corcoran | ) www.businessinsider.com time to read: +2 min

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

☆ BlackRock is overhauling the way it advises powerful investors, from sovereign wealth funds to central banks
▼ + stars: | 2024-02-13 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +5 min

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

☆ BlackRock is shaking up leadership of its influential consulting business
▼ + stars: | 2024-02-09 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +3 min

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

☆ 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

☆ Premarket stocks: why over-optimistic investors may want to pump the brakes
▼ + stars: | 2024-01-24 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

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

DAVOS, Switzerland — Bitcoin does nothing, JPMorgan Chase CEO Jamie Dimon said Wednesday on the sidelines of the World Economic Forum. "This is the last time I'm talking about this with CNBC, so help me god," Dimon said. "I defend your right to do bitcoin," Dimon added, saying, "I don't want to tell you what to do. When asked what he made of Larry Fink changing his view on bitcoin as BlackRock jumped into the spot ETF business, Dimon said, "I don't care. "I don't know what he would say about blockchain versus currencies that do something versus bitcoin that does nothing," Dimon added.

Persons: Jamie Dimon, bitcoin, Dimon, blockchain, Smart, Franklin Templeton, Larry Fink, I'm Organizations: JPMorgan, Economic, CNBC, SEC, WisdomTree, Chartered, BlackRock Locations: DAVOS, Switzerland, Davos, BlackRock, bitcoin

☆ What Wall Street bosses from Goldman Sachs to JPMorgan are saying about the jobs outlook for 2024 in investment banking, wealth management, and more
▼ + stars: | 2024-01-16 | by ( Emmalyse Brownstein | Alex Morrell | Reed Alexander | ) www.businessinsider.com time to read: +11 min

Last year, banks opened 2023 by forecasting layoffs, including for the investment bankers who suddenly had nothing to do following the pandemic-era M&A and IPO boom. Citigroup kicked off 2024 ominously, warning that it will lay off as many as 20,000 employees by 2026. The bank expects 2024 expenses to increase further to total $90 billion, up $2.8 billion from 2023, and much of that will be focused on hiring. CFO Barnum on Friday said the bank is gearing up for a "rebound in the investment banking wallet." Headcount declined 3% to 80,006 from 82,427, while compensation expenses rose to $24.5 billion from $23 billion.

Persons: It's, it's, Jane Fraser, Jeremy Barnum, JPMorgan Chase Jamie Dimon, JPMorgan Chase, Alex Wroblewski, JPMorgan's headcount, Barnum, Friday, Patrick T, Fallon, —, Fraser, Q, Goldman Sachs Goldman Sachs, David Solomon, BRENDAN MCDERMID, Goldman Sachs, Denis Coleman, Coleman, Goldman, Bank of America Brian Moynihan, Robert Galbraith, headcount, BofA, Alastair Borthwick, execs, they've, Brian Moynihan, Wells Fargo Charles Scharf, Lucy Nicholson Wells Fargo, Michael Santomassimo, Charlie Scharf, Santomassimo, BlackRock Larry Fink, Fink, Kapito, Morgan Stanley Ted Pick, Morgan Stanley, Jeenah, Headcount, Morgan, Ted Pick, Sharon Yeshaya, Blackstone Steven Schwarzman, Blackstone, Gonzalo Fuentes Organizations: Business, Citigroup, JPMorgan, Citi, BlackRock, Blackstone, Getty, AlphaSense, Citigroup Citigroup, Bank of America, REUTERS, Robert, Robert Galbraith Bank of America's, Reuters, AP BlackRock, Global Infrastructure Partners Locations: Wall, headcount, Wells Fargo

☆ Premarket stocks: The rich and powerful are meeting in Davos. Here’s what they’re talking about
▼ + stars: | 2024-01-16 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Climate catastrophes: Climate change is a hot topic as leaders meet to discuss balancing economic growth with sustainability. Davos comes just days after scientists around the globe reported that the average temperatures last year reached a new record high. The report also said that cooperation among global leaders on the issue is scarce. So while leaders will likely discuss the use of fossil fuels and green development, there may not be much agreement. Leaders gathered in Davos Sunday to discuss Ukrainian President Zelensky’s 10-point peace plan to end Russia’s war with his country.

Persons: Isaac Herzog, Volodymyr Zelensky, Emmanuel Macron, Li Qiang, Antony Blinken, Jake Sullivan, John Kerry, Satya Nadella, Sam Altman, Jamie Dimon, Brian Moynihan, Larry Fink, Donald Trump, ”, Philipp Hildebrand, CNN’s Richard Quest, ” “, ” Nicolai Tangen, CNN’s, “, Kristalina Georgieva, OpenAI’s Altman, Microsoft’s, Zelensky’s, JPMorgan’s Dimon, Herzog, Klaus Schwab, Tami Luhby, Elon Musk, Bernard Arnault, Jeff Bezos, Larry Ellison, Warren Buffett, Nabil Ahmed, ” Ahmed, Jordan Valinsky, Comité Organizations: New, New York CNN, World Economic, National, Business, Microsoft, JPMorgan, Bank of America, BlackRock, Republican, GOP, ” BlackRock, Bank, Norges Bank, International Monetary Fund, IMF, State, Amazon, Oracle, Berkshire Hathaway, Oxfam, Workers Locations: New York, Davos, United States, Iowa, Europe, Taiwan, India, Mexico, China, Covid, Champagne, France

☆ BlackRock CEO Larry Fink warns of stubborn inflation - but expects growth to accelerate this year if interest rates drop
▼ + stars: | 2024-01-15 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

Read previewLarry Fink expects US inflation to prove stubborn, but economic growth to get a boost if interest rates fall this year. AdvertisementRapid inflation has spurred the Fed to hike interest rates from nearly zero to over 5%. Higher rates are also associated with slower growth, increased unemployment, and lower asset prices, raising the prospect of a market downturn or a recession. GDP growth was nearly 5% in the third quarter, unemployment remains at a historic low of below 4%, and resilient corporate earnings have buoyed stock prices. He struck a similarly optimistic tone on the long-term outlook for the US stock market and wider economy last year.

Persons: —, Larry Fink, " Fink, Fink, Jamie Dimon, Gary Gensler Organizations: Service, Business, BlackRock, Fox Business, Wall Street, JPMorgan, SEC Locations: bitcoin

☆ Larry Fink just kicked off the last chapter of his BlackRock reign
▼ + stars: | 2024-01-12 | by ( Michelle Abrego | Rebecca Ungarino | ) www.businessinsider.com time to read: +6 min

This all comes as Larry Fink, 71, is entering what is likely the last chapter of a successful career as cofounder and chief executive of $10 trillion BlackRock. Here's everything you need to know:BlackRock is set to buy Global Infrastructure Partners in its biggest deal in 15 yearsThroughout 2023, Fink signaled that a "transformational deal" was on the cards. He found his target in private equity firm and infrastructure investor Global Infrastructure Partners, the firm announced on Friday. Jessica Tan, head of BlackRocks' sustainability and transitions strategy, will head the global product solutions team in the Americas. Charles Hatami, global head of the financial and strategic investor group that focuses on relationships with large investors like insurers and sovereign wealth funds, will join BlackRock's global executive committee.

Persons: Larry Fink, Fink, Rob Kapito, BlackRock iShares, GIP, Kapito, Goldman Sachs, Goldman, David Solomon's, Ogunlesi, Wells, Mike Mayo, Larry, Stephen Cohen, Salim Ramji, Jessica Tan, Jane Sloan, GIP's, Edwin Conway, Conway, Rachel Lord, Lord, Charles Hatami Organizations: Business, BlackRock, Global Infrastructure Partners, GIP, London Gatwick, Wall Street, Asia Pacific, Securities, Exchange Commission Locations: Sydney, Bayo, Ogunlesi, BlackRock, Americas, Europe, East, India, Asia, Pacific

Now the company plans to go big on the business of investing in airports, bridges, oil pipelines and more. Alongside announcing its quarterly earnings, the firm said on Friday that it would acquire Global Infrastructure Partners for about $12.5 billion in cash and stock. The deal is BlackRock’s biggest takeover since 2009, when it bought Barclays Global Investors for $13.5 billion and became the world’s biggest provider of index funds. It’s a major bet by BlackRock on infrastructure, in which financial firms invest in, or take over and run, assets like tunnels, highways, and oil and gas networks. “Policymakers are only just beginning to implement once-in-a-generation financial incentives for new infrastructure technologies and projects,” Larry Fink, BlackRock’s chairman and C.E.O., said in a statement.

Persons: ” Larry Fink Organizations: Global Infrastructure Partners, Barclays Global Investors, BlackRock Locations: BlackRock, It’s

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