Larry Fink, CEO of BlackRock. Cameron Costa | CNBC Bitcoin ETFs have arrived after a hard fought battle between the crypto industry and the Securities and Exchange Commission. Larry Fink, CEO of BlackRock — the biggest asset manager in the world — thinks it’s just the first step toward a […]
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Companies want to move fast with AI adoption, but see plenty of speedbumps
Getty Images Businesses looking to take advantage of the latest artificial intelligence tools are in search of any number of potential benefits, including automating repetitive tasks, enhanced data analytics, reduced human error and better and faster decision making. The problem is, barriers to AI adoption abound, keeping companies from deploying […]
BlackRock buys infrastructure investor Global Infrastructure Partners for $12 billion
BlackRock, the world’s biggest asset manager, announced Friday it is buying Global Infrastructure Partners for about $12 billion in cash and stock. The acquisition is part of the firm’s increased focus on infrastructure, which CEO Larry Fink said is “one of the most exciting long-term investment opportunities.” As part of […]
Citigroup posts $1.8 billion fourth-quarter loss after litany of charges
Citigroup on Friday posted a $1.8 billion fourth-quarter loss after booking several large charges tied to overseas risks, last year’s regional banking crisis and CEO Jane Fraser’s corporate overhaul. All told, the charges — so massive the bank preannounced their impact this week — hit quarterly earnings by $4.66 billion, […]
FAA says it will audit Boeing’s production line after 737 Max 9 accident
A plastic sheet covers an area of the fuselage of the Alaska Airlines N704AL Boeing 737 MAX 9 aircraft outside a hangar at Portland International Airport on January 8, 2024 in Portland, Oregon. Mathieu Lewis-rolland | Getty Images The Federal Aviation Administration on Friday said it will audit Boeing‘s production […]
Wholesale prices unexpectedly fell 0.1% in December in positive inflation sign
A customer shops for milk at a grocery store on December 12, 2023 in San Anselmo, California. Justin Sullivan | Getty Images News | Getty Images Wholesale prices unexpectedly declined in December, providing a positive signal for inflation, the Labor Department reported Friday. The producer price index fell 0.1% for […]
Bank of America shares fall after company reports lower fourth-quarter profit, hit by regulatory charge
Bank of America Chairman and CEO Brian Thomas Moynihan speaks during the U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, U.S., December 6, 2023. Evelyn Hockstein | Reuters Bank of America shares fell more than 2% in premarketing trading […]
Wells Fargo posts higher fourth-quarter profit, helped by higher interest rates and cost cutting
Three Wells Fargo ATM’s on 14th street, New York City. Lindsey Nicholson | Universal Images Group | Getty Images Wells Fargo shares fell Friday even after fourth-quarter profit rose from a year ago, as the bank benefited from higher interest rates and cost-cutting efforts. Here’s what the bank reported versus […]
JPMorgan Chase profit falls after $2.9 billion fee from regional bank rescues
Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled Annual Oversight of Wall Street Firms, in the Hart Building on Dec. 6, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images JPMorgan Chase said Friday that fourth quarter profit declined […]
Who are the Houthis? U.S. and U.K. strikes thrust Iran-backed group into the global spotlight
SANA’A, YEMEN – DECEMBER 03: Members of the Houthi-run Military Special Forces guard during a funeral procession of Houthi fighters at Al-Sha’ab Mosque on December 03, 2023 in Sana’a, Yemen. (Photo by Mohammed Hamoud/Getty Images) Mohammed Hamoud | Getty Images News | Getty Images U.S. and U.K. forces have carried […]