BlackRock profit beats as assets grow to a record $9.5 trillion
BlackRock Inc (BLK.N), the world’s largest asset manager, reported a better-than-expected quarterly profit on Wednesday as investors poured more money into the company’s funds, driving robust fee growth and boosting its assets under management to a record high.
AMC, GameStop shares fall to half of their June peaks
Shares of cinema operator AMC Entertainment (AMC.N) and video game retailer GameStop Corp (GME.N) fell sharply on Wednesday and were both trading below half their recent peak prices, testing the fortitude of the stocks’ retail shareholders.
S&P 500 ends higher after Fed Chair Powell lulls market
The S&P 500 ended with a gain after briefly hitting an intra-day record in a choppy session on Wednesday, as investors balanced worries about inflation with reassuring comments from Fed Chair Jerome Powell.
AIG to sell life and retirement unit stake to Blackstone, another with IPO
American International Group Inc (AIG.N)plans to use an IPO to sell part of its life and retirement business, while Blackstone Group Inc (BX.N)agreed to buy a sizeable stake, according to a person familiar with the matter.
Facebook and Instagram will invest over $1 bln in content creators
Facebook Inc (FB.O) will spend $1 billion on social media creators through the end of 2022 in a fight for top talent announced in a week when TikTok became the first rival mobile app to hit 3 billion global downloads.
EXCLUSIVE Wealth manager Americana Partners bid $25 a share for Westwood Holdings Group
Wealth manager Americana Partners has made a $25 a share bid for Westwood Holdings Group (WHG.N), offering a nearly 28% premium to take the publicly traded financial advisory and mutual fund firm private, sources familiar with the matter said.
ESG fever: share of sustainable fund trading soaring in 2021
The rush to invest in exchange-traded funds focusing on environmental, social and governance (ESG) issues jumped in the first half of 2021, with monthly turnover more than tripling to nearly 3 billion euros from a year ago, Deutsche Boerse said on Wednesday.
Asian shares lower on U.S. inflation jitters
Asian shares fell on Wednesday after data showing the biggest jump in U.S. inflation in 13 years fuelled some market expectations that the Federal Reserve could exit pandemic-era stimulus earlier than previously thought.
Analysis: Investors pivot to Powell after more hot U.S. inflation data
The biggest rise in U.S. consumer prices in 13 years has intensified investor focus on messaging from the Federal Reserve, with the central bank’s chairman set to speak before Congress on Wednesday.
JPMorgan profit soars on recovery but questions linger over lending outlook, competition
JPMorgan Chase & Co (JPM.N) second-quarter profits jumped 155% as the U.S. economy continued to rebound, but executives warned on Tuesday that the sunny outlook would not make for blockbuster revenues in the short term due to low interest rates, weak loan demand and a slowdown in trading.
