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’BlackRock sees bumper earnings
BlackRock, the US asset management firm, reported Q3 earnings of $317m on Tuesday, a 46% gain over a year ago, reflecting improving conditions in global financial markets. The results were also boosted by a $45m one-time gain from a change in local income tax laws,
Big BlackRock
In any discussion about winners from the financial crisis, US money manager BlackRock must be the lead contender – having landed a series of lucrative contracts over the past year from US efforts to clear up the financial mess,
BlackRock plans trading platform
BlackRock, the US asset manager now poised to become the world’s largest money manager with the acquisition of Barclays Global investors, is set to create its own global trading platform. In a plan to develop what an internal memo describes as a “new world-class global trading platform across the firm”,
BlackRock to buy BGI for $13bn
BlackRock agreed on Thursday night to pay $13.5bn in cash and shares to buy Barclays Global Investors in a deal that will make the US money manager the world’s biggest – with more than $3,000bn in assets under management.
BlackRock nears $13bn deal for BGI
BlackRock looks set to seal the acquisition of Barclays Global Investors and become the world’s biggest money manager by Wednesday. The US group plans to pay Barclays $12bn-$13bn for BGI – half in cash and half in shares – to create a group with more than $3,000bn in assets under management,
BlackRock scrambles for BGI
BlackRock was on Sunday in discussions with Barclays as it raced to seal the purchase of Barclays Global Investors and see off an 11th-hour challenge from Bank of New York Mellon. Barclays is expected to decide early this week on who should buy its BGI unit.