BlackRock Inc said on Friday it is tightening its belt and putting off some hirings amid an economic environment that has spooked retail investors and drove its quarterly profit down.
BlackRock said that general and administrative expenses rose 12% year-over-year partly due to costs associated with return to office such as higher tech costs and health and safety costs. BlackRock’s assets under management fell 11% to $8.49 trillion compared with last year, well below the $10 trillion milestone from the fourth quarter of 2021, and also hit by a stronger dollar.
They are more than well poised now in Canada to pick the bones of the 10s of 1000s of homeowners who are gonna lose it all in the next few years
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Barclays seeks entry into China’s $4.3-trillion asset management market, sources sayThe move is part of Barclays’ plans to expand its footprint in China
Source: globeandmail - 🏆 5. / 92 Read more »
BlackRock second-quarter inflows slow amid market turmoil - BNN BloombergBlackRock clients slowed the amount of money they poured into the firm’s core investment funds as markets cratered and inflation surged.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
B.C. speculation tax brings 20,000 units back to rental marketExperts say that while the B.C. speculation and vacancy tax initiative has created a better environment for first-time buyers and renters, it may not have improved affordability Good start! Now restrict Airbnb to maximum two properties per host, and one must be in their primary residence. This is stupid, the only units subject to this tax are those that will be unaffordable for those who really need a place to live. What is the point? BAN AIRBNB except for sharing space in your own residence.
Source: globeandmail - 🏆 5. / 92 Read more »