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’Consob is watching
RTRS-ITALY MARKET WATCHDOG CONSOB CHECKING BLACKROCK STATEMENTS ON UNICREDIT STAKE-CONSOB SOURCES
MILAN (Dow Jones)–U.S. asset management company BlackRock Inc. (BLK) Wednesday said it still holds a 3.09% stake in UniCredit SpA (UCG.MI),
The great governments are reading blogs crisis of 2011
Larry Fink, chairman and CEO of BlackRock, reckons he’s found one of the reasons for the world’s troubles.
Comments just in from Wednesday’s Q3 earnings call:
“When the government focuses on short termism,
More than 2.8m tonnes of hidden copper stocks
The debate over how much copper is being stored ‘off market’ in private inventories — not part of the LME inventory system — has been going on for a while.
The general position taken by investment bank analysts is that supply is tight.
Blackrock’s prudent collateral approach, no periphery debt please
When it comes to physically-replicated Exchange-Traded Funds (ETFs), the key criticism — if any — usually pertains to providers’ tendency to top-up management fees with stock lending revenue.
The theory is that the practice exposes investors to unnecessary counterparty risk,
iShares responds to FSB criticism of ETFs
The industry’s response to Tuesday’s warning note on Exchange Traded Funds from the Financial Stability Board has begun predictably with a statement from iShares — the world’s largest provider of ETFs.
Stress-testing Ireland’s stress testers
BlackRock is really making a name for itself in financial crisis-related services — valuing the Fed’s Maiden Lane portfolio and undertaking the Irish banking stress tests too. But Ireland’s central bank also hired Boston Consulting Group (BCG) to supervise the stress testers,
“Risks” for 2011
Under ‘U’ in the Panglossary (our happily optimistic reference portmanteau) one must surely find “upside risk”.
On Tuesday, Bob Doll, BlackRock’s bullish Chief Equity Strategist, showcased his predictions for the year ahead.
BofA sheds awkwardness along with BLK shares
When Bank of America received a much-hyped letter from bondholders two weeks ago, we didn’t say much (though others did) about how awkward it was for the bank ostensibly to be facing the threat of legal action from one of its own holdings.
Those ETF shorts
Blackrock, the world’s largest asset manager — with $3,450bn under management according to figures released on Wednesday — puts out a regular quarterly review of the ETF industry.
And as usual, it presents some interesting factoids on all matters exchange-traded fund — be they product,
Those blemished Countrywide credit loans
So… since FT Alphaville was working on a special RMBS supplement;
We spoke with Scott Simon, head of MBS at Pimco last week — who gave us this quote:
“There’s been an amazing amount of things
BlackRock, Pimco, NY Fed coming after BofA, Bloomberg says
No sooner does Bank of America announce earnings than it gets hit with a significant threat of legal action from mortgage bond holders – including the New York Fed. From Bloomberg:
Pacific Investment Management Co.,
Can an ETF collapse?
By Andrew A. Bogan, Ph.D., Brendan Connor, and Elizabeth C. Bogan, Ph.D.
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Like many innovations in finance that emerge from nowhere to explode in popularity with unknown consequences, exchange-traded funds (ETFs) have gone from obscurity when they were first invented in 1993 to making up more than half of all the daily trading volume on American stock exchanges today.
Blackstone’s property ambitions
Blackstone is on a roll. Having just reported strong Q2 results – featuring a 13 per cent annual increase in income and news that it raised $13.5bn in the quarter for its new buy-out fund, the biggest such fund since the financial crisis – it is now eyeing property investments in hitherto unchartered territory.
Putting the ‘E’ into exchange-traded fund in Europe
Happy tenth anniversary, European exchange-traded funds. Prepare for a blow-out.
Blackrock’s ETF division iShares marked this week’s big birthday with the publication of its ETF landscape report, predicting a robust future for ETF asset growth in Europe.
CIC takes on the world
After a low-key year, China Investment Corporation really has come back out swinging. After last week’s news of its nifty deal with Apax Partners in Europe, a (US) SEC filing by the Chinese sovereign wealth fund gives an intriguing glimpse into how it is using exchange-traded funds to take positions on sectors ranging from healthcare to consumer services and gold.
AIG and the Fed, not above water but drowning?
Thursday’s story, that the Timothy Geithner-headed Federal Reserve Bank of New York tried to cover up certain details of mega-insurer AIG’s bailout in 2008, has finally prompted some responses from US Treasury — where Geithner is now head.
BlackRock plans debt sale
BlackRock, the world’s largest asset manager, plans to sell $2.5bn of bonds in three parts, the company’s first offering since its debut issue more than two years ago, reports Bloomberg. Blackrock plans to sell three-year notes in addition to the five- and 10-year debt initially planned.
UBS ends talk of GAM sale
John Fraser, chairman of UBS Global Asset Management, has confirmed that the bank’s fund management arm is not up for sale, drawing a line under months of speculation. The statement comes ahead of UBS’s Q3 earnings announcement on Tuesday,
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 up for risk-rating role
BlackRock, the US money manager that gained multiple government assignments in the financial crisis, is a contender for another influential role: helping state regulators size up risks in insurers’ investments,
CME abandons plan to trade OTC derivatives
In a not entirely unexpected move, CME – the world’s biggest futures exchange by volume – and Citadel abandoned their joint effort to set up a trading platform for credit derivatives.
Still, and optimistically, CME said it would continue to push its CDS clearing effort,
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 pitching distressed assets to Main Street
The NY Times reported on Sunday that BlackRock intends to open up the market for distressed assets – previously limited to institutional investors and hedge fund types – to “ordinary Americans”:
BlackRock is putting together an investment fund that it says will give ordinary Americans a chance to profit from the financial bailouts that they are paying for.