News Formal

BlackRock's profit hit by lower fees for lending stocks

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 12 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 66%

United States News News

United States United States Latest News,United States United States Headlines

BlackRock Inc , the world's largest asset manager, on Friday reported a 6.5per cent drop in second-quarter profit, as investment advisory and ...

REUTERS: BlackRock Inc , the world's largest asset manager, took in less cash last quarter as investors moved into lower-cost bond funds, and it made less money lending out stocks.

The decline in fees for lending out stocks resulted from reduced demand by borrowers, typically hedge funds that want to"short" them, selling the stocks and hoping to buy them back later at a lower cost.

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:

 /  🏆 6. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

GE sells solar business stake to BlackRock[NEW YORK] General Electric Co agreed to sell a majority stake in a solar energy business to BlackRock Inc, giving the investment giant footing in a growing market as the ailing manufacturer shifts its focus elsewhere. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »