Latest news with #BlackRock
Bloomberg
an hour ago
- Business
- Bloomberg
Bloomberg Surveillance: Tariffs Inflation
Watch Tom and Paul LIVE every day on YouTube: Bloomberg Surveillance hosted by Tom Keene & Paul Sweeney July 16th, 2025 Featuring: 1) Amanda Lynam, Head of Macro Credit Research at BlackRock, joins to talk about corporate credit resilience amid continued policy shifts. Stocks slipped as negative tariff headlines and dialed-back expectations for interest-rate cuts prompted doubts about the market's ability to sustain recent highs. US Treasuries held steady. 2) Gerard Cassidy, Head: US Bank Equity Strategy at RBC Capital Markets, wraps big bank earnings. Investors will continue to follow bank executives' guidance during and after earnings on how they plan to allocate extra capital and drive larger profits. 3) David Malpass, former President at the World Bank, discusses the economic and geopolitical policies of the second Trump administration and what President Trump must do to gain broader support in his second term. It comes amid a rift within the Republican Party over the release of documents related to Jeffrey Epstein and uncertainty over President Trump's tariff policy. 4) Patrick Armstrong, CIO at Plurimi Wealth, brings us into PPI and talks about how inflation could weigh on markets. Robin Brooks, a senior fellow at the Brookings Institution, wrote that 'the tariff inflation shock starts to hit' and this effect will keep building in intensity as pre-tariff inventories are depleted. 5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a New York Post story on the redesigned Waldorf-Astoria and a Boston Globe column on the seven best lobster rolls around Boston.
Yahoo
3 hours ago
- Business
- Yahoo
BlackRock Stock Wipes Out Gains on Heavy Outflow and Acquisition Charges
July 16 - BlackRock (NYSE:BLK) shares plunged about 5% after the world's largest asset manager detailed mixed second?quarter results. Warning! GuruFocus has detected 8 Warning Sign with BLK. The firm reported record assets under management of $12.5 trillion and adjusted earnings per share of $12.05, up 16% year?over?year. Revenue climbed 13% to $5.42 billion, buoyed by inflows into iShares ETFs, private markets and cash strategies. Despite the headline gains, GAAP operating income fell 4% to $1.73 billion due to acquisition?related charges from its recent Preqin and Global Infrastructure Partners deals. A single institutional client's $52 billion redemption cut net quarterly inflows to $68 billion; without that outflow, inflows would have been the strongest in nearly two years. Expenses rose meaningfully, with compensation and benefits up $261 million and a $39 million restructuring charge linked to internal reorganisation. GAAP operating margin narrowed to 31.9% from 37.5% a year earlier, underscoring margin pressure. Chief Executive Larry Fink highlighted growing demand across ETFs, alternatives and the Aladdin technology platform. He noted that the HPS Investment Partners acquisition added $165 billion in AUM. While BlackRock did not provide formal guidance, management said the second half of the year is typically stronger, though near?term volatility may persist. Based on the one year price targets offered by 15 analysts, the average target price for BlackRock Inc is $1168.16 with a high estimate of $1260.00 and a low estimate of $980.00. The average target implies a upside of +11.66% from the current price of $1046.16. Based on GuruFocus estimates, the estimated GF Value for BlackRock Inc in one year is $972.02, suggesting a downside of -7.09% from the current price of $1046.16. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data
Business Wire
4 hours ago
- Business
- Business Wire
Gabriel Hasson Joins ICR as Global Head of Governance & Shareholder Advisory
NEW YORK--(BUSINESS WIRE)-- ICR, a leading strategic communications and advisory firm, today announced the appointment of Gabriel Hasson as Global Head of Governance & Shareholder Advisory. In this role, he will lead the firm's team advising company management and Boards of Directors across the full spectrum of strategic governance matters, including investment fund stewardship engagement, ESG and bylaw policy strategy and disclosure, shareholder activism, and proxy contest advisory. Hasson joins ICR's New York office from BlackRock's Investment Stewardship team, where he served as Director for six years, managing a portfolio exceeding $400B across the U.S., Canada, and Latin America. His oversight spanned the pharmaceuticals, healthcare, life sciences, and consumer sectors, and he notably built and led BlackRock's stewardship strategy, establishing the firm's governance footprint across seven Latin American countries. During his tenure, he engaged extensively with Boards and C-suite leaders, emerging as a recognized thought leader in governance, sustainability, and investment stewardship—authoring numerous articles and participating in nearly 200 speaking events and media interviews. A former M&A attorney advising global corporations on complex cross-border transactions, Hasson also held senior roles at Institutional Shareholder Services (ISS) and Deloitte, where he advised federal governments and Fortune 500 clients on shareholder engagement, governance reform, and ESG integration. 'Gabe brings a truly distinctive combination of global experience, market insight, and leadership in governance and shareholder advisory—at a time when boards face mounting pressures to navigate capital markets with confidence,' said Tom Ryan, Founder and CEO of ICR. 'Proactive shareholder engagement has become essential to strengthening governance, enhancing transparency, and building trust with the market. His credibility with institutional investors, deep understanding of stewardship priorities, and sophisticated approach to complex situations will enhance ICR's ability to deliver value to clients across industries and market caps, building upon our leadership position as strategic advisors.' 'ICR stands out as a strategic partner that deeply understands investor behavior and how to shape effective communication in both proactive and high-stakes contexts. I have long recognized ICR as a clear leader in the strategic communications and advisory business,' added Hasson. 'I'm excited to join this talented and committed team, and I look forward to helping clients strengthen their governance practices, build trust, and respond with agility in today's evolving landscape.' Hasson earned his law degree from Universidad Panamericana, as well as a certificate in U.S. Law from The George Washington Law School. He holds a master's in international public policy from the School of Advanced International Studies (SAIS) at Johns Hopkins University, and a Certificate in Corporate Finance from Cornell University. ICR was recently ranked the #3 U.S. advisor on shareholder activism in the Bloomberg League Tables, and recognized among the best PR & communications firms for crisis and litigation advisory by Chambers and Partners, the world's leading provider of legal rankings and insights. About ICR Established in 1998, ICR partners with public and private companies to execute strategic communications and advisory programs and manage complex transactions and corporate events to enhance long-term enterprise value and corporate reputation. The firm's highly differentiated service model, which pairs capital markets veterans with senior communications professionals, brings deep industry knowledge and investor relationships to hundreds of clients across more than 20 sectors. With more than 400 team members, ICR is one of the largest and most experienced independent communications and advisory firms, maintaining offices in New York, Connecticut, Boston, Baltimore, San Jose, London, and Beijing. Learn more at Follow us on LinkedIn and on X at @ICRPR.
Bloomberg
5 hours ago
- Business
- Bloomberg
China AI Models 'World Class': Nvidia CEO, Could France Axe Two Holidays?
China's open-source AI is a catalyst for global progress and that Chinese AI models are 'world-class', Nvidia's CEO Jensen Huang said in a speech at the China International Supply Chain Expo's opening ceremony. Huang has also said he expects to get the first batch of US export licenses soon, so Nvidia can resume shipments of its H20 AI chips to China, while underlining the importance of US access to the Chinese market. In France, Prime Minister Francois Bayrou proposed scrapping two national holidays, part of a drastic effort to repair public finances that's set to unleash a parliamentary backlash in the fall. Today's guests: Karim Chedid, BlackRock Head of EMEA Investment Strategy, Odile Renaud-Basso, European Bank for Reconstruction and Development President, Fabio Lisanti, Citi European Markets Head, Luigi Lovaglio, Banca Monte dei Paschi di Siena CEO. (Source: Bloomberg)
Mint
5 hours ago
- Business
- Mint
Can Jio BlackRock turn scale into smart returns?
Jio BlackRock, the newest entrant in the Indian mutual fund space, is likely to grow in size and scale. However, eventually, its performance will play a crucial role in how much investors value it. For Ambani, the mutual fund venture is one of the several roads towards a substantive presence in financial services. The broader push is housed under Jio Financial Services, positioned as a sum-of-parts play. (File Photo: Reuters) Gift this article Earlier this month, one of India's most anticipated mutual fund ventures finally took off. Jio BlackRock Asset Management, an equal joint venture between Jio Financial Services and global investment giant BlackRock, announced that it had mobilized ₹ 17,800 crore through the new fund offers (NFOs) of its first three schemes. All three are debt-oriented funds, a category where institutional investors typically account for about 80% of assets under management (AUM). Earlier this month, one of India's most anticipated mutual fund ventures finally took off. Jio BlackRock Asset Management, an equal joint venture between Jio Financial Services and global investment giant BlackRock, announced that it had mobilized ₹ 17,800 crore through the new fund offers (NFOs) of its first three schemes. All three are debt-oriented funds, a category where institutional investors typically account for about 80% of assets under management (AUM). It's a start. The real test lies ahead: whether the two heavyweight promoters can scale operations in line with their ambitions, and disrupt India's mutual fund industry, as they've pledged. That promise is partly what underpins the premium valuation Mukesh Ambani's Jio Financial Services currently enjoys. In industry terms, the start itself is something. Based on June-quarter data, Jio BlackRock has, in one stroke, entered the ranks of the top 30 fund houses in India, placing 29th out of 47 by AUM. It's a highly top-heavy industry: the top 10 asset managers account for 77% of the industry's ₹ 72.3 trillion in assets. Jio BlackRock aims to climb that list quickly, with Ambani's vast telecom footprint seen as a critical lever. But in mutual funds, size is only half the story. Performance matters just as much. Take equity schemes: over the five years ended 8 July 2025, about 57% of the 296 equity funds beat their benchmarks—meaning 43% didn't. Only around a third managed to outperform by more than 2 percentage points. A similar pattern holds in debt funds. Beyond the metros Jio BlackRock has laid out a plan to draw new investors into the mutual fund fold, leveraging the strengths of both its parents. For Ambani, that means tapping into his telecom user base. As of May 2025, Reliance Jio had 475 million mobile subscribers, the largest among Indian operators, as per the telecom regulator. The goal: nudge those users to invest in Jio BlackRock products via Jio's finance app. A key selling point will be BlackRock's proprietary investment and risk-management technology. The timing is opportune. Over the past decade or so, mutual funds have acquired a more diversified geographic representation. As of September 2017, the top 35 cities accounted for about 90% of the industry's assets. In an industry that grew nearly four times in AUMs as of March 2025, their share is down to about 70%. Smaller cities and towns are gaining in share, and Jio's telecom base is squarely in these expanding spaces. Longer SIPs The fund house aims to convince them to entrust it with their mutual fund investments, and increasingly invest via its finance app that it places on their mobile phones. It is even reportedly looking at ticket sizes of ₹ 500 per month. The post-pandemic period saw a coming together of investing apps, a booming stock market and homebound Indians embracing equity investing. Also Read | How India's ₹ 250 SIP plan failed to find traction Some of it is hot money that has not seen a bear market. But a lot of it is also stable money, indicating a maturing of the Indian equity investor. This is reflected in investments via systematic investment plans (SIPs), which instil a long-term investing habit and end up buying more during market dips. As of March 2025, SIPs accounted for about one-fifth of the industry's AUMs. As of March 2020, only about 4% of SIP money had a holding period of more than 5 years. This increased to 33% as of March 2025. Tall expectations For Ambani, the mutual fund venture is one of the several roads towards a substantive presence in financial services. The broader push is housed under Jio Financial Services, positioned as a sum-of-parts play. Listed in August 2023, the company has a market capitalization of ₹ 2.03 trillion, about 100 times its FY25 revenue of ₹ 2,079 crore. That sky-high market cap-to-revenue ratio reflects investor expectations of rapid scale and broad expansion across financial services. After its listing, Jio Financial's stock initially gained but later lost ground amid delays in operational rollouts—including at Jio BlackRock. The launch of the first three schemes sparked a share price rebound. Still, it's just the first of many milestones Jio Financial must hit to justify those lofty expectations. is a database and search engine for public data. Topics You May Be Interested In
