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BlackRock Sees Global Slowdown Worsening in 2009

By Walden Siew NEW YORK (Reuters) - BlackRock Inc's BLK president BLK said on Tuesday the money management firm is bracing for a "much bigger" global economic slowdown, but said financial market declines have created some of the best buying opportunities...

Tags: Financial accounting, BlackRock Inc., Merrill Lynch & Co. Inc., mortgage-backed security, economic slowdown, financial market, president, New York, Thomson Reuters Corp., financial, subprime mortgage, inflation, bond, emerging market, CEO, asset, security

News items 2008-06-24

Additional Resources

Business Digest

Merrill Lynch to sell its Bloomberg stake *Merrill Lynch has agreed a deal to sell its 20 per cent stake in the financial information company Bloomberg as part of its efforts to rebuild its battered balance sheet. The sale - expected to be announced this morning -...

Articles 2008-07-17

BlackRock To Acquire Impact Investing

Leading Developer of Equity Portfolio Management Software to be Integrated into BlackRock Solutions NEW YORK -- BlackRock, Inc. (NYSE: BLK) today announced that it will acquire Impact Investing, a Sydney, Australia based software development company specializing in equity portfolio management and analytical software tools. Impact will be fully...

Articles 2008-07-15

BlackRock, Inc. to Report Second Quarter 2008 Earnings on July 17

NEW YORK -- BlackRock, Inc. (NYSE:BLK) today announced that it will report results for the second quarter of 2008 prior to the opening of the New York Stock Exchange on Thursday, July 17, 2008. Chairman and Chief Executive Officer, Laurence D. Fink, and Chief Financial Officer, Ann Marie Petach, will...

Articles 2008-07-08

Dividend Dates and Distribution Amounts Announced for Certain BlackRock Closed-End Funds

NEW YORK -- Today, the BlackRock closed-end funds listed below announced distributions. In addition, four equity funds, BlackRock Real Asset Equity Trust (NYSE:BCF), BlackRock Enhanced Dividend AchieversTM Trust (NYSE:BDJ), BlackRock International Growth and Income Trust (NYSE:BGY), and BlackRock World Investment Trust (NYSE:BWC) (collectively, the "Funds") are moving from...

Articles 2008-07-01

Hudson Valley Holding Corp. Appoints Mary-Jane Foster as a Director

YONKERS, N.Y., July 1 /PRNewswire-FirstCall/ -- William E. Griffin, Chairman of the Board of Hudson Valley Holding Corp., has announced the appointment of Mary-Jane Foster, a principal in the development and investment firms of Black Rock Investors, LLC, Bridgeport, CT, and Westchester Baseball, LLC, as a Director of the...

Articles 2008-07-01

BlackRock's Bob Doll Expects U.S. Equities to "Grind Higher" in 2008'S Second Half, with Help of Global Growth, Stronger Earnings, Moderating Inflation

Doll's Predictions Include: U.S. Continues to Avoid Recession; GDP Growth To Stay "Mired" in 0-2% Range Worst of Credit Crisis Now "Behind Us," With Investors Returning to Some Market Sectors U.S. Could Outperform Other Developed Markets This Year; Selected Emerging Markets Remain Attractive Complement...

Articles 2008-06-30

BlackRock Enhanced Equity Yield Fund, Inc. Completes Annual Repurchase Offer

NEW YORK -- BlackRock Enhanced Equity Yield Fund, Inc. (the "Fund") (NYSE: EEF, CUSIP: 09256C105) announced the completion of its offer to repurchase up to 5% of its outstanding shares of common stock from its stockholders (the "Repurchase Offer"). Under the terms of the Repurchase Offer, the Fund...

Articles 2008-06-27

BlackRock Names Paul Audet Vice Chairman, Head of Cash Management and Real Estate Businesses

Ann Marie Petach Named Chief Financial Officer NEW YORK -- BlackRock, Inc. (NYSE:BLK) today announced that Paul L. Audet has been named Vice Chairman, with responsibility for overseeing the Company's global Real Estate and Cash Management businesses. In addition, BlackRock announced that Ann Marie Petach was named Chief...

Articles 2008-06-26

Zacks Analyst Blog Highlights: UBS, BlackRock, Electroglas, Amkor Technology and Broadcom

CHICAGO -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: UBS AG (NYSE: UBS), BlackRock (NYSE: BLK), Electroglas, Inc. (Nasdaq: EGLS),...

Articles 2008-06-24

Peter R. Fisher, Managing Director and Co-Head of Fixed Income at BlackRock, Presented Today at the Federal Reserve Bank of San Francisco's Asian Banking and Finance Conference

The full text of Mr. Fisher's remarks can be found below. Global Outlook: Something's Gotta Give -- U.S. to Slow in 2009 Federal Reserve Bank of San Francisco The Changing Landscape: Asia's Role in Global Finance NEW YORK -- The opinions expressed...

Articles 2008-06-18

Curtis Arledge to Join BlackRock As Co-head of US Fixed Income Portfolio Management Group

NEW YORK -- BlackRock, Inc. (NYSE:BLK) today announced that Curtis Arledge will join the Company as Managing Director and co-head of U.S. Fixed Income, within the Fixed Income Portfolio Management Group. He will be responsible for managing fixed income portfolios, with a sector emphasis on non-agency asset-backed and mortgage-backed securities....

Articles 2008-06-17

PCFG - Desanding Update

TORONTO, June 16 /PRNewswire-FirstCall/ -- Pacific Gold Corp. (OTCBB: PCFG) announced today that it has identified new equipment for the desanding requirements at the Black Rock Canyon mine owned and operated by Nevada Rae Gold, Inc. The Black Rock Canyon screening plant operates a relatively simple circuit...

Articles 2008-06-16

Tax break could move major firm to Phila.

With just a few weeks left before city and state lawmakers recess for summer, Gov. Rendell and Mayor Nutter are pushing for new tax breaks to coax a major financial firm, BlackRock Inc., to move here - and add its 1,100 well-paid employees to Philadelphia's job base. If they succeed,...

Articles 2008-06-15

BlackRock Enhanced Equity Yield Fund, Inc. Completes Annual Repurchase Offer

NEW YORK -- BlackRock Enhanced Equity Yield Fund, Inc. (the "Fund") (NYSE: EEF, CUSIP: 09256C105) announced the completion of the Fund's annual repurchase offer for its shares of common stock. The repurchase offer and withdrawal rights expired at 5:00 p.m., Eastern Time, on June 13, 2008. The Fund offered to...

Articles 2008-06-13

Rusoro Mining Raises US$80 Million Via Exchangeable Loan

Rusoro Mining Ltd. ("Rusoro") (TSX VENTURE: RML) is pleased to announce that Peter Hambro Mining Plc ("PHM") has agreed to make a strategic US$20 million investment in Rusoro and its affiliates (collectively the "Rusoro Group") as part of a larger US$80 million senior secured exchangeable loan (the "Loan"), exchangeable into...

Articles 2008-06-10

Dividend Dates and Distribution Amounts Announced for Certain BlackRock Closed-End Funds

NEW YORK -- Certain BlackRock closed-end funds announced distributions today as detailed below. Several of the municipal closed-end funds announced dividend reductions, which take into account the funds' earning potential and level of undistributed net investment income. For several of the funds with dividend reductions, large undistributed net...

Articles 2008-06-02

BlackRock Declares Quarterly Dividend of 78 Cents on Common Stock

NEW YORK -- BlackRock, Inc. (NYSE:BLK) today announced that its Board of Directors has declared a quarterly cash dividend of $0.78 per share of common stock, payable June 23, 2008 to shareholders of record at the close of business on June 12, 2008. About BlackRock BlackRock...

Articles 2008-06-02

BlackRock Announces Refinancing of Auction Rate Preferred Shares Issued by BlackRock Tax-Exempt Fixed Income Closed-End Funds

NEW YORK -- BlackRock, Inc. (NYSE:BLK) today announced the dates for the partial redemptions of auction rate preferred shares ARPS issued by 56 of the 61 BlackRock tax-exempt fixed income closed-end funds that utilize these securities. The announced redemptions total $1.6 billion and represent approximately 20% of the total outstanding...

Articles 2008-06-02

BlackRock Closed-End Municipal Fund Data Released For April 2008

NEW YORK -- BlackRock, Inc. today announced that it released data for its closed-end municipal funds for April 2008. This information can be found in the "Closed-End Funds" section of www.blackrock.com. About BlackRock BlackRock is one of the world's largest publicly traded investment management firms. At...

Articles 2008-05-29