BlackRock, Inc. (NYSE:BLK) today announced that its Board of Directors has declared a quarterly cash dividend of $3.63 per share of common stock, payable June 23, 2020 to shareholders of record at the close of business on June 5, 2020.
BlackRock, Inc. (NYSE:BLK) today announced that Chief Operating Officer, Robert L. Goldstein and Global Head of Aladdin, Sudhir Nair, are scheduled to speak at the Morgan Stanley Virtual US Financials Conference on June 10th, 2020, beginning at approximately 8:00 a.m. ET. A live audio webcast will be accessible via the "Investor Relations" section of BlackRock’s website, www.blackrock.com. A replay of the webcast will be available within 24 hours of the presentation and will remain accessible through the Company’s website for three months.
ZoomInfo Technologies Inc expects to raise up to $801 million in its U.S. initial public offering (IPO), as the market for new issues rebounds after the COVID-19 pandemic put several debuts on hold for a couple of months. ZoomInfo follows Warner Music Group, which said on Tuesday it was aiming to sell up to $1.82 billion in stock in its U.S. IPO, potentially the largest New York listing so far in 2020.
The Federal Reserve’s massive March stimulus program unfroze corporate financial markets, starting a chain reaction that has lured investors back into even the riskiest asset classes, like equities.
At a time when Americans are increasingly concerned about their long-term financial future, BlackRock is announcing a ground-breaking solution designed to provide millions of American workers with simplified access to lifetime income throughout their retirement. In a major step forward, BlackRock has enlisted two leading insurers, Equitable and Brighthouse Financial, in the effort. Designed to be provided through employers’ defined contribution plans, the new investment solution, called LifePath PaycheckTM, aims to reimagine retirement by combining an innovative investment solution that helps protect workers’ nest eggs with an integrated digital experience for participants that leverages the security and scale of the Microsoft Azure cloud platform.
Top fund manager BlackRock Inc
BlackRock, Inc. (NYSE:BLK) today announced that Laurence D. Fink, Chairman and Chief Executive Officer, is scheduled to speak at the 2020 Deutsche Bank Global Financial Services Conference on May 27th, 2020, beginning at approximately 12:05 p.m. ET. A live audio webcast will be accessible via the "Investor Relations" section of BlackRock’s website, www.blackrock.com. A replay of the webcast will be available within 24 hours of the presentation and will remain accessible through the Company’s website for three months.
BlackRock, Inc. (NYSE: BLK)'s Investment Institute (BII) raised its credit outlook to "modestly overweight" and cited a preference for credit over equities in its weekly commentary."Developed market central bank actions should pave the way for lower volatility in interest rates, providing a stable environment for credit spreads to narrow," BII head Jean Boivin wrote in the report released Tuesday."The risk of temporary liquidity crunches remains. Yet valuations have cheapened and coupon income is crucial in a world starved for yield."Boivin also cited expectations for higher corporate credit defaults and downgrades."Yet over a five-year horizon the sizeable widening in credit spreads that we've seen should compensate for increased losses due to defaults and downgrades, driving up expected returns for credit, in our view," he wrote.Government Bonds The BII projected five years of negative government bond returns across developed markets and predicted a gradual rebound in yields as government policy constricts rates."This diminishes the strategic case for holding nominal government bonds," Boivin wrote.The firm favors Treasury Inflation-Protected Securities over discount margin government bonds, although it maintains a Neutral rating on TIPS for the next six to 12 months.It is keeping an eye on Chinese government bonds while staying sidelined on global government bonds in general."They act as ballast against risk-off episodes," Boivin wrote of government bonds. "Additional easing by major central banks has become more likely, in our view. We favor U.S. Treasuries over government bonds in other regions, but see risks of a diminishing buffer against equity market selloffs and a snap-back in yields from historically low levels."Cash And Equities The firm maintains Neutral ratings on both cash and global equities."We are also tactically overweight U.S. equities for their relative quality bias and the strong policy response to date, and underweight euro area and Japanese equities for the limited policy space to safeguard the economy against the virus shock," Boivin wrote.BlackRock's predictions reflect higher inflation risk related to fiscal and monetary policy as well as deglobalization.Latest Ratings for BLK DateFirmActionFromTo May 2020Deutsche BankMaintainsHold May 2020JP MorganMaintainsOverweight May 2020Wells FargoMaintainsOverweight View More Analyst Ratings for BLK View the Latest Analyst Ratings See more from Benzinga * The Fed Makes History Buying 0B In Corporate Bonds(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Five years after first ditching some coal companies, Nordic investors are turning their focus to bigger carbon emitters in a range of industries, paving the way for other funds to follow. Investors in the Nordic region have been among the vanguard of environmental, social and governance (ESG) investing, with Norway's NBIM grabbing most of the attention due to its size.
Five years after first ditching some coal companies, Nordic investors are turning their focus to bigger carbon emitters in a range of industries, paving the way for other funds to follow. Investors in the Nordic region have been among the vanguard of environmental, social and governance (ESG) investing, with Norway's NBIM grabbing most of the attention due to its size.
(Bloomberg) -- BlackRock Inc. Chief Executive Officer Larry Fink said it’s still worth betting on equities in the long run even though the coronavirus convulsed global stock markets this year and troubles may still lie ahead.“Even today, a strong ownership in the new economies over long horizons is going to be a great asset class,” Fink said on a Deutsche Bank AG webcast on Wednesday. “The only asset class over a long horizon that you can rest assured, over long horizons, that you’re going to be safe, will be global equities.”That doesn’t mean the near-term picture looks rosy. Fink’s remarks come weeks after he delivered a grim message on a private call with clients of a wealth advisory firm. Bankers he’s spoken to expect the coronavirus pandemic will hit American companies hard, with cascades of bankruptcies to follow, Bloomberg News reported at the time.Fink, whose firm is the world’s biggest asset manager, acknowledged Wednesday that near-term pain probably lies ahead.“I do believe jobs are going to be slower coming back than other people believe,” he said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The Dow bounced back from Tuesday’s loss. More strength is starting to be seen in individual stocks, as well.
Top fund manager BlackRock Inc on Wednesday said it cast an advisory vote in favor of an independent chairman and against the reelection of two directors at Exxon Mobil Corp over the company's approach to climate risks. Exxon shareholders on Wednesday rejected all four shareholder resolutions with none getting more than 38% of the votes cast. The independent chairman proposal fell with 32.7% in favor of an appointment when the next chief executive is named.
British property funds are set to remain frozen for months as the market is impossible to value due to the coronavirus crisis, and some may need to change structure to survive, industry sources say. Ten big open-ended property funds tracked by Morningstar, with a total of 6.5 billion pounds ($8 billion) under management, stopped investors from getting their money out in mid March, saying valuers could not accurately assess real estate assets in a plunging economy.
TORONTO, May 22, 2020 -- BlackRock Asset Management Canada Limited (“BlackRock Canada”), an indirect, wholly-owned subsidiary of BlackRock, Inc. (NYSE: BLK), today announced.
U.S. prosecutors on Friday charged the founder and former owner of a Hollywood movie production and distribution company with defrauding a BlackRock Inc investment fund out of about$14 million to pay for luxuries including a Beverly Hills mansion. William Sadleir, 66, of Beverly Hills, California, was charged with two counts of wire fraud and one count of aggravated identity theft after inducing the closed-end BlackRock Multi-Sector Income Trust Fund to invest $75 million in his Aviron Group. Sadleir allegedly promised BlackRock its money would support his films, including through the purchase of $27 million in pre-paid media credits, or "up fronts," with the GroupM affiliate of WPP Plc, the world's largest advertising company.
BlackRock Inc., the world’s largest asset manager with nearly $7 trillion under its control, was pushed by shareholders Thursday to better defend its stance in support of mindfully investing to slow climate change.
BlackRock Inc said on Thursday that all 16 of its director nominees were elected with favorable votes of about 94% at its annual meeting. The world's largest asset manager also said that the pay of its executives was approved with about 94% support at the meeting, which was held online.
Asset management giant BlackRock is looking to diversify the custodians for the roughly $2 trillion assets parked in its iShares exchange-traded funds.
(Bloomberg) -- Even if Argentina defaults for the ninth time in its history, creditors say the issue could be cured quickly as the two sides work to restructure $65 billion in overseas bonds.Although an event of default will be hard to avoid for Argentina, there is willingness to resolve the negotiations, said Greylock Capital Management LLC’s Chief Executive Officer Hans Humes at an online event. The country is just a day away from a May 22 deadline, when $500 million in overdue payments come due.Humes, whose fund is part of one of three key creditor groups, the Argentina Creditor Committee, said that a resolution was in all parties’ best interest, and that greater flexibility was needed by both sides to reach an agreement.“Any kind of default event can be cured in short order,” Humes said. “I would hate to have something as disorderly as a hard default.”Even if there’s a default, that wouldn’t be immediately followed by litigation because taking legal action amid the talks wouldn’t be productive, said Guggenheim Securities’ senior managing director Mark Walker, a restructuring expert.Argentina said it would extend the deadline for creditors to consider an initial debt restructuring offer until June 2 as both sides need more time reach a deal, according to a government statement. The government received two formal counteroffers from creditors last week, after the bondholder groups roundly rejected an initial government offer.The government is planning to stick to the same formal offer it presented in mid-April, allowing several more weeks for talks between the parties to continue, said the people, who could not be named because the negotiations are private. In the meantime, Argentina plans to miss a delayed interest payment on about $500 million due Friday, the people said.Read More: Here’s What You Need to Know About Argentina’s Debt Crisis: Q&AThe Exchange Bondholder Group -- alongside the Argentina Creditor Committee, Fintech Advisory and Gramercy Funds Management -- submitted a joint proposal to the government last Friday that people familiar with the matter said would give bondholders about 55 cents on the dollar. A separate group that includes BlackRock Inc., Ashmore Group Plc and Fidelity Investments sent a plan that the people valued at about 59 cents on the dollar.After several weeks of impasse, some progress has been made in recent days. In an online forum Tuesday, Economy Minister Martin Guzman said there was a “big chance” that negotiations extend past Friday.“We are having a constructive dialog with the bondholders,” Guzman said.Negotiations started more than two months ago, and Argentina’s proposal had sought $40 million of debt relief and a three-year moratorium on debt payments. The country, home to South America’s second-largest economy, says it can’t meet its obligations amid high unemployment, a sharp drop in the value of its currency, accelerating inflation and a deep recession made worse by the coronavirus pandemic.(Adds government statement of extension of negotiation deadline to June 2 in sixth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.