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☆ Societe Generale obtains France's first crypto licence
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +1 min

LONDON, July 19 (Reuters) - French bank Societe Generale (SOGN.PA) has become the first company in France to obtain a license for crypto services, as a growing number of mainstream financial companies embrace crypto globally this year. Societe Generale's crypto unit, Forge, is licensed as of Tuesday to offer services, including crypto custody, trading and sales, according to the website of France's AMF market regulator. A slew of crypto firms, including the world's biggest exchange Binance, have already registered with the AMF. Licensed firms, however, are subject to more onerous rules in areas including corporate governance, IT and compliance. Crypto markets have rallied in 2023, spurred by growing interest in the volatile asset class by major U.S. financial firms including BlackRock and Fidelity.

Persons: Tom Wilson, Sharon Singleton Organizations: Societe Generale, Societe, France's AMF, AMF, BlackRock, Fidelity, Thomson Locations: France, London

☆ BlackRock names Aramco boss to board
▼ + stars: | 2023-07-18 | by ( Natalie Grover | ) www.reuters.com time to read: +2 min

LONDON, July 17 (Reuters) - The world's top asset manager BlackRock (BLK.N) has named Amin Nasser, the chief of the world's largest oil company Saudi Aramco (2223.SE), as an independent director. His expertise in the Middle East will fill the gap left by Bader Alsaad, chairman of the board of the Arab Fund for Economic & Social Development, who is not standing for reelection on BlackRock's board in 2024, the asset manager said on Monday. BlackRock has sought to strike a balance on the issue of climate change, continuing to invest in fossil fuel companies, while nudging them to adopt energy transition plans. Aramco, for its part last October unveiled a $1.5 billion sustainability fund to initially focus on areas including carbon capture and storage, greenhouse gas emissions, as well as hydrogen, ammonia and synthetic fuels. However, Nasser said the current global energy transition plan was flawed.

Persons: Amin Nasser, Nasser, Bader Alsaad, Natalie Grover, Sharon Singleton Organizations: BlackRock, Saudi Aramco, Saudi, Arab Fund for Economic & Social Development, Aramco, Gulf, Thomson Locations: Saudi Arabia, Riyadh, Paris, London

☆ BlackRock's ESG backlash looms over Larry Fink's legacy and succession
▼ + stars: | 2023-07-18 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +11 min

"BlackRock has posted industry-leading organic growth over the last year while most of our competitors are experiencing persistent outflows," a company spokesperson told Insider. I criticize the way they defended it," Seifert told Insider. "Given no mortal can fill Larry's shoes, there is a high risk they pick some Jeff Immelt equivalent," Keeley told Insider. Fink chose to make his letters public, which leads to concerns that Fink wrote them as a PR exercise. However, the most effective engagement is typically private," Edmans told Insider.

Persons: Larry Fink, It's, Fink, hasn't, Larry, BlackRock, BlackRock's, Terrence Keeley, —, it's, Ron DeSantis, GIORGIO VIERA, Erik McGregor, Keeley, They're, Cathy Seifert, Seifert, Rob Kapito, Mark Wiedman, Martin Small, Rachel Lord, Susan Wagner, Jack Welch, Jeff Immelt, Welch, Electric's, Immelt, Tim Buckley, Abby Johnson, Ron O'Hanley, Jamie Dimon, Alex Edmans, Edmans, Michael M, he's, I've, Rob Organizations: BlackRock, Republicans, GOP, Bloomberg, CNBC, Florida Gov, Getty, UBS, Environmental, CFRA Research, Company, JPMorgan, Citi, GE, Vanguard, Fidelity, London Business School Locations: BlackRock, Texas, Florida, Fink

☆ Yale's Jeff Sonnenfeld: BlackRock CEO Larry Fink 'is swinging like a pendulum' with Aramco news
▼ + stars: | 2023-07-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailYale's Jeff Sonnenfeld: BlackRock CEO Larry Fink 'is swinging like a pendulum' with Aramco newsJeff Sonnenfeld, Yale School of Management senior associate dean for leadership studies, joins 'Squawk Box' to discuss news of BlackRock naming Saudi Aramco CEO Amin Nasser to its board, a move the company says will give it 'a unique perspective' on key issues.

Persons: Jeff Sonnenfeld, Larry Fink, Amin Nasser Organizations: BlackRock, Aramco, Yale School of Management Locations: BlackRock

☆ BlackRock made a climate pledge. Then it appointed a Saudi oil executive to its board
▼ + stars: | 2023-07-18 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —BlackRock, the world’s biggest asset manager, said Monday it has appointed Amin Nasser, chief executive of oil giant Saudi Aramco, to its board of directors — despite the New York-based firm’s pledge to accelerate investment in climate-friendly companies. Nasser joined the state-run oil giant Saudi Aramco in 1982 as a petroleum engineer, rising up the ranks to become CEO in 2015. Saudi Aramco is the world’s largest oil producer, with a market capitalization of 7.8 trillion Saudi riyal ($2.1 trillion). But, like other fossil fuel companies, pressure has built on Saudi Aramco to take more drastic action to curb its greenhouse gas emissions. President and CEO of Aramco Amin Nasser attends the Energy Asia conference in Kuala Lumpur, Malaysia June 26, 2023.

Persons: Amin Nasser, —, Bader Alsaad, Larry Fink, Nasser, Hasnoor Hussain, ” Nasser, BlackRock’s, Jeff Sonnenfeld, Nasser “ Organizations: London CNN — BlackRock, Saudi Aramco, New, BlackRock, Arab Fund for Economic, Social, Saudi, —, Energy Asia, World Petroleum Congress, Yale School of Management, CNBC, Aramco, CNN Locations: Saudi, New York, ”, Ukraine, Kuala Lumpur, Malaysia, decarbonize, United States, BlackRock

☆ After an 80% rally for bitcoin, market experts predict where it's going next in 2023
▼ + stars: | 2023-07-18 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Bitcoin made a stunning jump in the first half of 2023, hitting $30,000 again for the first time in months. Five market experts responded to CNBC questions via email, and three said they expect bitcoin to reach the $50,000 level by the end of 2023. That is a net annual reduction in selling of BTC 250,000 — a large number relative to bitcoin market turnover." "We previously predicted that this driver would add USD 10,000 to the bitcoin price," he added. Mobius said he expects bitcoin to climb to $40,000 by the end of 2023, citing investor "belief" in the digital coin.

Persons: Bitcoin, Carol Alexander, Geoff Kendrick, Kendrick, Antoni Trenchev, wouldn't, Mark Mobius, Tim Draper, Mobius, bitcoin, Draper didn't, —, Kevin Schmidt Organizations: BlackRock, CNBC Pro, CNBC, Sussex University, SEC, British, Chartered, Standard Chartered, BTC, Federal Reserve, Mobius Capital Partners, Draper Associates, Trust, Fidelity, U.S . Securities, Exchange Commission Locations: Terra, Binance

Parts of Europe and the southern United States are expected to experience record-breaking highs, with consequences for human health and economic activity. As China faces sweltering heat, John Kerry, the U.S. climate envoy, met with the country’s premier to urge cooperation in fighting climate change. Microsoft and Activision reportedly plan to extend a deadline for their deal. The Competition and Markets Authority, which had previously moved to block the transaction, has set an Aug. 29 deadline for the talks. Under new rules negotiated by the Treasury Department, American businesses now have until 2026 before other countries can start imposing new levies on corporations deemed to have paid too little in the United States.

Persons: Fink, Jamal Khashoggi, John Kerry, isn’t, Elizabeth Warren, Tesla, Elon Musk, Biden Organizations: Investment Initiative, Northern, Microsoft, Activision, Bloomberg, The, Markets Authority, Massachusetts Democrat, Elon, Twitter, Treasury Department Locations: Saudi, Europe, United States, China, U.S, Massachusetts

☆ CNBC Daily Open: The long-awaited recession might not come
▼ + stars: | 2023-07-18 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Meanwhile, China's lackluster gross domestic product figures, released yesterday, prompted Wall Street to cut their expectations of China's annual growth to around 5%. Peak oil demandIndia imported 2.2 million barrels of Russian oil per day in June. Since Russia invaded Ukraine in February last year and oil price caps were instituted, India has become one of the leading importers of Russian oil. Buffett previously revealed Berkshire added to its initial Activision stake in a bet the deal would close and cause shares to rise.

Persons: Hong, Hong Hao, Viktor Katona, Berkshire Hathaway, Buffett, Bitcoin, bitcoin Organizations: New York Stock Exchange, CNBC, Grow Investment, Activision Blizzard, Microsoft, Activision, BlackRock Locations: New York City, Asia, Pacific, India, Russia, Ukraine, Berkshire

☆ BlackRock’s Aramco embrace makes sense in a vacuum
▼ + stars: | 2023-07-18 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +4 min

The $109 billion asset manager run by Larry Fink said on Monday it would add Saudi Aramco (2222.SE) Chief Executive Amin Nasser to its 16-strong board. But judged through an investment lens the appointment makes sense. Nasser, who led Aramco through its 2019 initial public offering, will take the seat currently occupied by Bader Alsaad, a former managing director of the Kuwait Investment Authority. Follow @thereallsl on TwitterCONTEXT NEWSBlackRock on July 17 said Amin Nasser, chief executive of Saudi Aramco, would join its board as an independent director. “Amin’s distinguished career at Aramco, spanning more than four decades, gives him a unique perspective on many of the key issues facing our firm and our clients,” BlackRock Chief Executive Larry Fink said in a statement.

Persons: Larry Fink, Amin Nasser, Nasser, Bader Alsaad, Jamal Khashoggi, Randall Stephenson, Fink, Richard Blumenthal, T Rowe Price, Fink –, “ Amin’s, Peter Thal Larsen, Sharon Lam Organizations: YORK, Reuters, BlackRock, Aramco, Kuwait Investment Authority, of, Petroleum, Saudi, Golfers ’ Association, Global Energy, Exxon Mobil, Chevron, Shell, Thomson Locations: BlackRock, Saudi Aramco, Kuwait, Saudi Arabia, United States, U.S, Texas, Connecticut, Aramco

☆ BlackRock to expand proxy voting choice to retail ETF investors
▼ + stars: | 2023-07-17 | by ( Ross Kerber | ) www.reuters.com time to read: +2 min

FILE PHOTO: The BlackRock logo is pictured outside their headquarters in the Manhattan borough of New York City, New York, U.S., May 25, 2021. REUTERS/Carlo Allegri/File Photo(Reuters) - The world’s top asset manager BlackRock said it will offer proxy voting choices to U.S. retail investors of its biggest exchange-traded fund, expanding a strategy that could blunt criticism of how the firm considers environmental, social and governance (ESG) matters. Investors will not be able to specify votes in specific company elections. While many clients will rely on the votes BlackRock will continue to cast, “consistent with our fiduciary duty as an investment manager, others want the choice to participate in proxy voting more directly,” said Joud Abdel Majeid, Global Head of BlackRock Investment Stewardship, in a statement. Rivals including State Street and Vanguard have their own programs to devolve proxy voting rights.

Persons: Carlo Allegri, BlackRock, Glass, ”, Joud Abdel Majeid Organizations: REUTERS, BlackRock, New, Services, Glass Lewis, managements, Investment, Rivals, State, Vanguard, Republican Locations: BlackRock, Manhattan, New York City , New York, U.S, New York, Republican U.S

☆ BlackRock names Saudi Aramco CEO Amin Nasser to board
▼ + stars: | 2023-07-17 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Amin H. Nasser, president and CEO of Saudi Aramco, speaks during a news conference at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. BlackRock said Monday that Amin Nasser, the CEO of Saudi Aramco, the world's largest oil company, is joining the asset manager's board of directors. The world's largest asset manager said the move reflects the firm's emphasis on the Middle East as part of its long-term strategy. In August 2022, Texas Comptroller Glenn Hegar targeted BlackRock, putting the asset manager on a list of financial companies that "boycott energy companies." "It's got nothing to do with maximizing returns and is the opposite of what an asset manager is paid to do."

Persons: Amin H, Nasser, Amin Nasser, Amin's, Larry Fink, Fink, Glenn Hegar, Jimmy Patronis, It's Organizations: Plaza Conference, BlackRock, Saudi Aramco, Aramco, BlackRock Board, Republicans Locations: Saudi Aramco, Dhahran, Saudi Arabia, Saudi, East, BlackRock, Texas, Florida

☆ Jim Cramer talks diversification and portfolio strategy, compares ARK's Cathie Wood and BlackRock's Larry Fink
▼ + stars: | 2023-07-17 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Monday stressed his belief that diversification is key to a successful portfolio. Cramer looked at the strategies of ARK 's Cathie Wood and BlackRock 's Larry Fink to explain why he thinks diversification is usually the best strategy for long-term gains. Cramer said Wood's primary investment style is to get a few stocks she feels have the highest potential. "That's the danger of running an undiversified portfolio: You have to be right every time, or else your investors, they get obliterated," Cramer said. Fink, however, prioritizes diversification, Cramer said, adding that BlackRock is the world's largest asset manager, with $9.4 trillion in holdings.

Persons: CNBC's Jim Cramer, Cramer, Wood, Larry Fink, she's, Tesla, haven't, Fink, That's Organizations: BlackRock, Nasdaq

☆ Bitcoin investors are feeling deja vu as the setup for the next bull run takes shape
▼ + stars: | 2023-07-16 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

The dollar index, which usually moves inversely with bitcoin, also hit its lowest level in more than a year last week, and bitcoin didn't budge. "It wasn't until the bitcoin halving a year later, in the spring of 2020, that we saw a market recovery transform into a sustained rally. Investors tend to expect seasonal gains in the fourth quarter, which has brought bitcoin a 93.38% return on average since 2013. The Ripple case also gives the industry hope that the SEC "takes its foot off of the enforcement pedal," Canaccord Genuity said. "Until the next difficulty adjustment, which will happen in about two weeks, miners' selling pressure will likely continue," Hasegawa added.

Persons: Bitcoin, bitcoin, pullbacks, Andrew Lawrence, Censo, Lawrence, it's, Cantor Fitzgerald, Canaccord Genuity, Chase White, they've, bitcoin's, Yuya Hasegawa, Hasegawa Organizations: BlackRock, SEC, Investors

July 14 (Reuters) - BlackRock Inc (BLK.N), the world's biggest asset manager, handily beat second-quarter profit estimates but showed a slowdown in money inflows, sending shares down about 2%. Net inflows for the quarter were $80 billion, down from $89.6 billion a year ago and $110 billion in the first quarter, amid heightened economic uncertainties. "The firm's flow mix remains skewed toward lower fee strategies, which continue to weigh on organic base fee growth," Goldman Sachs said in a note to clients. Citigroup described the results as "a bit of a mixed quarter," given BlackRock's profit beat but lower-than-expected inflows. Shares in BlackRock are up 2.85% this year, underperforming the S&P 500 index (.SPX), which is up almost 18%.

Persons: Refinitiv IBES, Kyle Sanders, Edward Jones, Goldman Sachs, BlackRock, Larry Fink, Fink, Martin Small, Jaiveer Singh, Chizu Nomiyama, Mark Potter, Anna Driver Organizations: BlackRock Inc, BlackRock, Citigroup, CNBC, Thomson Locations: New York, BlackRock, Bengaluru

SummaryCompanies JPMorgan, Wells Fargo up as Q2 profit rises on higher interest incomeUnitedHealth rises on Q2 profit beatFutures mixed: Dow adds 0.33%, S&P up 0.02%, Nasdaq slips 0.12%July 14 (Reuters) - The S&P 500 and Dow futures rose on Friday as JPMorgan Chase and Wells Fargo commenced second-quarter earnings for big U.S. banks on a strong note. UnitedHealth Group (UNH.N) gained 3.6% after the health insurer reported a quarterly profit above analysts' estimates, as the industry bellwether's expenses came in lower than feared. Overall earnings for the S&P 500 constituents are seen dropping 6.4% in the second quarter, according to Refinitiv data released at the start of the earnings season. The earnings are expected to feed into a strong rally in recent days. ET, Dow e-minis were up 114 points, or 0.33%, S&P 500 e-minis were up 1 points, or 0.02%, and Nasdaq 100 e-minis were down 19.5 points, or 0.12%.

Persons: Wells, Dow, Wells Fargo, JPMorgan Chase, Christopher Waller, bullish, Morgan, Johann M Cherian, Saumyadeb Chakrabarty Organizations: JPMorgan, Nasdaq, Dow, JPMorgan Chase, Citigroup, BlackRock, Federal, of Michigan, Dow e, Microsoft, UBS, Activision, Thomson Locations: Wells Fargo, U.S, Bengaluru

July 14 (Reuters) - BlackRock Inc (BLK.N) on Friday beat second-quarter profit estimates, as investors continued to pour money into its various funds on the back of a rally in markets after a bruising start to the year. Net inflows for the quarter for BlackRock were at $80 billion, down from $89.6 billion a year ago. The company's adjusted profit of $9.28 per share leapfrogged analysts' estimates of $8.46, according to Refinitiv IBES. Fink in an investor event last month said that he is not planning to leave the asset manager "any time soon". Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Maju Samuel and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Kyle Sanders, Edward Jones, Refinitiv IBES, Larry Fink, Fink, Jaiveer Singh, Maju Samuel, Chizu Organizations: BlackRock Inc, The, Revenue, BlackRock, Securities, Exchange, Thomson Locations: The New York, BlackRock, Bengaluru

Charter Hall did not immediately respond to a Reuters request for comment. On its website Charter Hall said the fund would "only sell assets for prices that reflect fair value and given the lower sales volumes in the office investment markets, sales have proved challenging". Another REIT and Australia's largest office landlord Dexus (DXS.AX) last month sold a premium downtown Sydney office block for a 17% discount on a valuation made six months earlier. The Australian and U.S. REIT benchmark indexes are down roughly a fifth since highs at the end of 2021. But unlisted fund valuations have declined more slowly, creating an incentive for investors to pull money out while a chunky premium over listed equivalents remains, according to fund managers with investments in REITs.

Persons: Australia's, Hall, Dexus, Blackstone, Lewis Jackson, Byron Kaye, Jacqueline Wong Organizations: SYDNEY, Investors, PFA Fund, Charter Hall, KKR, Australian, Income, Thomson Locations: Australian, Sydney, REITs, BlackRock

Second-biggest token Ether had its best session since March and Ripple , which a U.S. judge ruled could be legally sold on public crypto exchanges, soared 73%. "The regulatory environment is changing," said Matthew Dibb, chief investment officer at crypto asset manager Astronaut Capital. He said further cases would probably shed more light on how courts will treat private crypto offerings. The world's biggest asset manager, BlackRock (BLK.N), filed to launch a bitcoin exchange traded fund last month and earlier in July exchange operator Cboe (CBOE.Z) refreshed its filing for a similar fund to be run by asset manager Fidelity. "For the first time in a while, it's been consistently positive news coming though and that means you've got momentum."

Persons: Bitcoin, Matthew Dibb, Justin d'Anethan, Greg Moritz, FTX, Sam Bankman, Alex Mashinsky, We'd, Chris Weston, it's, Vidya Ranganathan, Simon Cameron, Moore Organizations: Capital, BlackRock, Fidelity, Investors, Solana, Commodity Futures, Commission, Tab, Traders, U.S, SEC, Thomson Locations: SINGAPORE, U.S, Asia, Keyrock, Hong Kong, reining, China, noncomplicance, Melbourne, Singapore

UnitedHealth Group (UNH.N) jumped 7.2% after the health insurer's quarterly profit beat analysts' average estimate, as the industry bellwether's expenses came in lower than feared. Wells Fargo (WFC.N) gained 0.8% after reporting a 57% rise in quarterly profit. Citigroup (C.N) fell 2.9% after the lender's quarterly profit tumbled 36% as weakness in its trading business blunted gains in its personal banking and wealth management unit. The S&P 500 banks index (.SPXBK) shed 0.8%, erasing early gains. Of the 30 companies in the S&P 500 index that have reported earnings to date, 80% beat analysts' expectations, as per Refinitiv Data.

Persons: Wells, JPMorgan Chase, First Republic Bank . Wells Fargo, Banks, They've, Robert Pavlik, bullish, Morgan, Johann M Cherian, Saumyadeb Chakrabarty, Sriraj, Maju Samuel, Vinay Dwivedi Organizations: JPMorgan, Dow, Nasdaq, Wall Street, UnitedHealth, JPMorgan Chase, Rivals, First Republic Bank . Wells, Dakota Wealth, Citigroup, BlackRock, Dow Jones, Microsoft, UBS, Nvidia, NYSE, Thomson Locations: Wells Fargo, U.S, Bengaluru

☆ BlackRock has a 'responsibility to democratize investing,' including in crypto, Larry Fink says
▼ + stars: | 2023-07-14 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Andrew Ross Sorkin speaks with BlackRock CEO Larry Fink during the New York Times DealBook Summit in the Appel Room at the Jazz At Lincoln Center on November 30, 2022 in New York City. BlackRock 's move into crypto fits into the asset management giant's broader mission of creating products that are easy to use and cheap for investors, CEO Larry Fink said Friday. Fink had previously been critical of crypto, saying in 2017 that the popularity of digital currencies was do in large part to money laundering. However, interest from clients and the high cost of transactions motivated BlackRock to take a closer look at entering the space, Fink said. BlackRock reported its second-quarter results on Friday, earning $9.28 in adjusted earnings per share on $4.46 billion in revenue.

Persons: Andrew Ross Sorkin, Larry Fink, We've, Fink, BlackRock Organizations: BlackRock, New York Times DealBook, Jazz At Lincoln Center, Securities, Exchange Commission, SEC Locations: New York City, cryptocurrencies

☆ BlackRock CEO Larry Fink: Inflation will be sticky between 3% to 4%
▼ + stars: | 2023-07-14 | by ( ) 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: Inflation will be sticky between 3% to 4%BlackRock chairman and CEO Larry Fink joins 'Squawk Box' to discuss the company's quarterly earnings results, state of the U.S. economy, market outlook, inflation fight, and more.

Persons: Larry Fink Organizations: BlackRock Locations: U.S

☆ U.S. banks point to resilient but slowing economy, flag risks ahead
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +3 min

U.S. consumers still have a healthy balance sheet, the banks said, but warned spending was slowing and there had been a modest deterioration in some consumer debt. "The U.S. economy continues to be resilient," JPMorgan Chief Executive Jamie Dimon said. Investors have worried that high interest rates could push the economy into a recession, but the outlook remains uncertain. Wells CEO Charlie Scharf said the range of scenarios for the economy should narrow over the next few quarters. For now, the economy is performing better than many expected but will likely continue slowing.

Persons: JPMorgan Chase, Wells Fargo WFC.N, Wells, Jamie Dimon, Jeremy Barnum, Charlie Scharf, Larry Fink, Wells Fargo, Scharf, Morgan Stanley, Goldman Sachs, Niket Nishant, Noor Zainab Hussain, Mehnaz Yasmin, Manya, Nupur Anand, Saeed Azhar, Megan Davies, Paritosh Bansal, Nick Zieminski Organizations: JPMorgan, Citigroup, Citi, Federal Reserve, CNBC, Wells, Bank of America, Manya Saini, Thomson Locations: Wells, U.S, Bengaluru, New York

☆ Watch CNBC's full interview with BlackRock CEO Larry Fink on earnings and economic outlook
▼ + stars: | 2023-07-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with BlackRock CEO Larry Fink on earnings and economic outlookBlackRock chairman and CEO Larry Fink joins 'Squawk Box' to discuss the company's quarterly earnings results, state of the U.S. economy, market outlook, and more.

Persons: Larry Fink Organizations: BlackRock Locations: U.S

☆ US stocks trade mixed but notch a weekly gain as earnings impress and inflation cools
▼ + stars: | 2023-07-14 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks were mixed on Friday but closed higher for the week as investors cheered a cooler June inflation report. Second-quarter earnings kicked off on Friday with JPMorgan, Wells Fargo, and BlackRock all beating analyst estimates. Investors are expecting the latest earnings season to represent a trough for corporate profits. Results from JPMorgan and Wells Fargo beat analyst estimates, while Citigroup posted mixed results that were weighed down by a disappointment in its investment banking division. Investors expect second-quarter earnings results to represent a trough for corporate profits before they begin to rebound.

Persons: Wells Organizations: JPMorgan, BlackRock, Service, Nasdaq, Federal Reserve, Wells Fargo, Citigroup Locations: Wells Fargo, Wall, Silicon

☆ BlackRock CEO Larry Fink on economic outlook: I think our economy is going to accelerate
▼ + stars: | 2023-07-14 | by ( ) 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 economic outlook: I think our economy is going to accelerateBlackRock chairman and CEO Larry Fink joins 'Squawk Box' to discuss the company's quarterly earnings results, state of the U.S. economy, market outlook, inflation fight, and more.

Persons: Larry Fink Organizations: BlackRock Locations: U.S

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