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Bloomberg
2 days ago
- Business
- Bloomberg
BlackRock Has Built an AI Analyst, ‘Asimov,' to Scan Filings
BlackRock Inc. is planning for artificial intelligence to have a much bigger role in investing. The world's largest asset manager has built an AI research platform dubbed 'Asimov' and is using it now in the firm's fundamental equity business, Chief Operating Officer Rob Goldstein said Thursday at the firm's investor day in New York.
Economic Times
2 days ago
- Business
- Economic Times
Jio Financial Services shares in focus after JV with BlackRock gets Sebi nod to start advisory business
Shares of Jio Financial Services are set to be in focus on Thursday, after its joint venture with BlackRock secured regulatory approval to begin operating as an investment adviser in India. ADVERTISEMENT Jio BlackRock Investment Advisers Pvt Ltd, the 50:50 joint venture between Jio Financial Services (JFSL) and BlackRock Inc., has received a certificate of registration from the Securities and Exchange Board of India (SEBI) to act as an investment adviser. The approval, dated June 10, was disclosed by JFSL in a regulatory filing to the stock exchanges on Wednesday. This marks a significant milestone for JioBlackRock, which had earlier secured Sebi approval in May to manage mutual funds through its asset management company (AMC). The JV has also received approval from the BSE to operate as an investment adviser. With the new license in place, the company is now preparing to offer digital-first, insight-driven investment advisory services tailored to India's evolving investor base. It plans to share more details about its offerings closer to launch."We are pleased to announce that JioBlackRock Investment Advisers has received regulatory approval, marking a significant milestone in our partnership with BlackRock,' said Hitesh Sethia, Managing Director and CEO of Jio Financial Services. 'As Indian investors increasingly seek personalised, insight-driven financial solutions, this joint venture is poised to democratize access to world-class advisory services."Rob Goldstein, Chief Operating Officer of BlackRock, said, "India is one of the fastest-growing and most dynamic investment markets in the world. JioBlackRock Investment Advisers will benefit from the power of BlackRock's global investment expertise and technology, combined with Jio's local market knowledge and digital innovation." ADVERTISEMENT JioBlackRock Investment Advisers has also announced the appointment of Marc Pilgrem as its Managing Director and CEO. Pilgrem, a veteran with over 25 years of experience, previously served in leadership roles at BlackRock, including Head of Specialist Clients and Investment Trusts for EMEA, and COO for iShares EMEA. ADVERTISEMENT Shares of Jio Financial Services have delivered a mixed performance over the past year. The stock is down 13.4% over the last 12 months and has dropped nearly 12% in the past six months. However, recent momentum has been strong, with the stock rising 39% in the past three months and gaining 22% in the last a technical perspective, the stock is trading above all its key simple moving averages — the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day SMAs — indicating strong bullish undertones across short to long-term timeframes. ADVERTISEMENT Also read | GIFT Nifty down 30 points; here's the trading setup for today's session The Relative Strength Index (RSI) stands at 74.1, which suggests the stock may be overbought and could be prone to a pullback. Meanwhile, the Moving Average Convergence Divergence (MACD) is at 11.1 and remains above both the centre and signal lines, reinforcing the bullish trend. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
2 days ago
- Business
- Time of India
Jio Financial Services shares in focus after JV with BlackRock gets Sebi nod to start advisory business
Live Events Market Performance and technical indicators (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Jio Financial Services are set to be in focus on Thursday, after its joint venture with BlackRock secured regulatory approval to begin operating as an investment adviser in BlackRock Investment Advisers Pvt Ltd, the 50:50 joint venture between Jio Financial Services (JFSL) and BlackRock Inc., has received a certificate of registration from the Securities and Exchange Board of India (SEBI) to act as an investment adviser. The approval, dated June 10, was disclosed by JFSL in a regulatory filing to the stock exchanges on marks a significant milestone for JioBlackRock, which had earlier secured Sebi approval in May to manage mutual funds through its asset management company (AMC). The JV has also received approval from the BSE to operate as an investment the new license in place, the company is now preparing to offer digital-first, insight-driven investment advisory services tailored to India's evolving investor base. It plans to share more details about its offerings closer to launch."We are pleased to announce that JioBlackRock Investment Advisers has received regulatory approval, marking a significant milestone in our partnership with BlackRock,' said Hitesh Sethia, Managing Director and CEO of Jio Financial Services. 'As Indian investors increasingly seek personalised, insight-driven financial solutions, this joint venture is poised to democratize access to world-class advisory services."Rob Goldstein, Chief Operating Officer of BlackRock, said, "India is one of the fastest-growing and most dynamic investment markets in the world. JioBlackRock Investment Advisers will benefit from the power of BlackRock's global investment expertise and technology, combined with Jio's local market knowledge and digital innovation."JioBlackRock Investment Advisers has also announced the appointment of Marc Pilgrem as its Managing Director and CEO. Pilgrem, a veteran with over 25 years of experience, previously served in leadership roles at BlackRock, including Head of Specialist Clients and Investment Trusts for EMEA, and COO for iShares of Jio Financial Services have delivered a mixed performance over the past year. The stock is down 13.4% over the last 12 months and has dropped nearly 12% in the past six months. However, recent momentum has been strong, with the stock rising 39% in the past three months and gaining 22% in the last a technical perspective, the stock is trading above all its key simple moving averages — the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day SMAs — indicating strong bullish undertones across short to long-term Relative Strength Index (RSI) stands at 74.1, which suggests the stock may be overbought and could be prone to a pullback. Meanwhile, the Moving Average Convergence Divergence (MACD) is at 11.1 and remains above both the centre and signal lines, reinforcing the bullish trend.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
3 days ago
- Business
- Time of India
JioBlackRock Investment Advisers gets Sebi nod to start advisory business
JioBlackRock Investment Advisers, the 50:50 joint venture between Jio Financial Services (JFSL) and BlackRock Inc, has received the green light from capital markets regulator Sebi and BSE to begin operations as an investment adviser in India. This approval marks another key step for JioBlackRock after Sebi had already approved JioBlackRock AMC in May to manage its mutual fund business in India. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like I lost my wife, now my son is in danger, please help him! Donate For Health Donate Now Undo With this new license, JioBlackRock Investment Advisers can now focus on building a digital-first investment advisory service aimed at modern Indian investors. The company plans to share more details about its innovative offerings closer to the launch. "We are pleased to announce that JioBlackRock Investment Advisers has received regulatory approval, marking a significant milestone in our partnership with BlackRock,' he said. 'As Indian investors increasingly seek personalized, insight-driven financial solutions, this joint venture is poised to democratize access to world-class advisory services," said Hitesh Sethia, Managing Director and CEO of Jio Financial Services. Rob Goldstein, Chief Operating Officer of BlackRock, emphasized the opportunity in India's growing investment landscape. "India is one of the fastest-growing and most dynamic investment markets in the world," he noted. Live Events "JioBlackRock Investment Advisers will benefit from the power of BlackRock's global investment expertise and technology, combined with Jio's local market knowledge and digital innovation." JioBlackRock Investment Advisers announced the appointment of Marc Pilgrem as its MD and CEO. Marc, who brings over 25 years of experience in financial services, previously held senior roles at BlackRock, including Head of Specialist Clients and Investment Trusts for Europe, the Middle East, and Africa, and Chief Operating Officer for iShares EMEA. With this new license and leadership in place, JioBlackRock Investment Advisers aims to redefine wealth creation in India, empowering millions of investors with modern, tech-driven investment solutions.
Yahoo
24-04-2025
- Business
- Yahoo
Las Vegas Sands slaps down worries that U.S.-China tensions could threaten its Macau casinos
The revived U.S.-China trade war is already causing headaches for companies like Boeing that now face the prospect of being shut out of the world's second-largest economy. But U.S. casino operator Las Vegas Sands is betting that worsening relations between Washington and Beijing won't threaten its operations in the Chinese gambling hub of Macau. 'I think we have an incredible relationship with Beijing, and we've worked on it for many, many years,' said CEO Rob Goldstein on a call with analysts after the company reported its first-quarter earnings. 'We're a big believer in the relationship between China and the U.S. We're very disheartened [by] what's happening right now. Hopefully, we can get back on track, but it doesn't keep me up at night,' he added, responding to a question about whether geopolitical uncertainty was on his mind. In recent weeks, analysts have speculated whether an escalating U.S.-China trade war could put resorts in Macau at risk. In addition to Las Vegas Sands, which operates resorts like the Venetian and the Londoner through its Sands China subsidiary, fellow U.S. casino operators MGM Resorts International and Wynn Resorts also have properties in the Chinese city. Las Vegas Sands, No. 387 on the Fortune 500, is one of a handful of companies on the famous ranking that makes almost all of its revenue outside the U.S. The casino has five resorts in Macau and one in Singapore. The company reported net revenue of $2.86 billion for the quarter ended March 31, down 3.4% from the same period a year earlier. Net income also fell 30% to reach $408 million. The dip was partly driven by softness in Las Vegas Sands' Macau operations, where visitor numbers have yet to match pre–COVID 2019 levels. The company has pointed to redevelopment at its Londoner resort for softer Macau revenues. Chief operating officer Patrick Dumont noted on the recent earnings call that all of the Londoner's 2,405 rooms and suites are now operational, ahead of China's Golden Week holiday that starts May 1. The company's Marina Bay Sands resort in Singapore continued to post strong performance. Revenue for Singapore rose to $1.16 billion, growing from $1.15 billion the same period a year ago. Las Vegas Sands in fact reported greater earnings before interest, taxes, depreciation, and amortization from its Singapore business, compared with its Macau business. Goldstein was optimistic that the Singapore business would maintain its performance, particularly as the country's government hopes to draw more visitors. 'It's very special who goes to Singapore,' Goldstein said. 'I think it's driven because of the overall goal of the government of Singapore, which is to create opportunity for high-value tourism.' Shares of both Las Vegas Sands and its subsidiary, Sands China, are both down over 30% for the year so far. This story was originally featured on Sign in to access your portfolio
