The CEO of the world’s largest wealth manager says stocks have more upside ahead and most investors should put more money to work


  • BlackRock CEO Larry Fink told CNBC on Tuesday stocks have more upside ahead and most investors should put more money to work in the market.
  • “I believe we still have more to go on the upside even in front of probably rising infection rates with COVID-19,” Fink said. 
  • With interest rates lower for longer and the likelihood of a second fiscal stimulus, Fink expects the market to move higher.

BlackRock CEO Larry Fink told CNBC on Tuesday that stocks have more upside ahead and investors should put more money to work in the market. 

“We have a strong conviction that the average investor still is under-invested and they’re going to have to be putting more and more money to work over the coming months and maybe even years,” Fink said. “I believe we still have more to go on the upside even in front of probably rising

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JPMorgan Chase commits $30 billion to tackle racial wealth gap

“Systemic racism is a tragic part of America’s history,” CEO Jamie Dimon said.

JPMorgan Chase pledged $30 billion to help ameliorate the racial wealth gap in the U.S. and “reduce systemic racism against Black and Latinx people,” the firm announced in a statement Thursday.

The investment bank said the $30 billion commitment over the next five years will come in the form of loans, equity and direct funding to promote affordable housing, grow Black and Latinx-owned businesses, improve access to banking in communities of color, and build a more diverse workforce.

“Systemic racism is a tragic part of America’s history,” Jamie Dimon, chairman and CEO of JPMorgan Chase, said in a statement. “We can do more and do better to break down systems that have propagated racism and widespread economic inequality, especially for Black and Latinx people.”

“It’s long past time

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JPMorgan Chase commits $30B to close racial wealth gap

The Surrogate’s Court building exterior remains vandalized while Occupy City Hall protests continue outside City Hall in New York City on June 30. Photo by John Angelillo/UPI | License Photo

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Billionaires’ Wealth Surges To A Record $10.2 Trillion During The Pandemic

The wealth of the world’s billionaires has surged by more than $2 trillion since the coronavirus pandemic began to reach an all-time high of $10.2 trillion.

The super-rich have been the big beneficiaries of the stock market rally from its March lows. Their total net worth rose by 27.5% between April and July to smash the previous record of $8.9 trillion set at the end of 2017. The number of billionaires has also grown from 2,158 in 2017 to 2,189. 

These are the findings of the 2020 UBS/PwC Billionaire Insights report. The annual study calculated that billionaires’ fortunes had fallen by 6.6%, or $564 billion, to $8 trillion through 2019 and the first quarter of 2020, in the run-up to

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Exclusive: Turkey’s Wealth Fund in Talks Over Urgent Support for Hard-Hit Turkish Airlines – Sources | Investing News

By Ebru Tuncay, Birsen Altayli and Orhan Coskun

ISTANBUL (Reuters) – Turkey’s wealth fund is in talks to provide emergency funding to flag carrier Turkish Airlines , one of the country’s hardest-hit companies when the coronavirus pandemic halted nearly all flights, four sources told Reuters.

The sources close to the matter said the company, which flies to more destinations worldwide than any other airline, could receive capital or financing support, though nothing had yet been finalised.

It was unclear how much funding the Turkey Wealth Fund (TVF) could make available in what one source called a “bailout”. TVF declined to comment.

In a statement to the stock exchange, Turkish Airlines said the company had not received any information regarding talks being conducted for the provision of capital or financing support to the company.

Measures restricting movement in the wake of the pandemic have led to big losses, layoffs and closures

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How “the most powerful woman on Wall Street” is working to close the gender wealth gap

A women-run company led by investing titan Sallie Krawcheck, known as “the most powerful woman on Wall Street,” is taking on the ambitious role of narrowing the gender wealth gap.

“There have been two big drivers of wealth in our country: one of which has been real estate, which people of color have been redlined out of, the other of which has been investing,” Krawcheck told CBS News’ Michelle Miller. “And women and people of color have been kept out from that.”

The gender wage gap between men and women in the U.S. has been the subject of debate and countless campaigns for equality, and that wage gap is even steeper for women of color. That wage gap, coupled with women taking more time out of their careers to care for children and investing less than men, means that even women who successfully saved for retirement could find themselves

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Exclusive: Turkey’s wealth fund in talks over urgent support for hard-hit Turkish Airlines

By Ebru Tuncay, Birsen Altayli and Orhan Coskun

ISTANBUL (Reuters) – Turkey’s wealth fund is in talks to provide emergency funding to flag carrier Turkish Airlines <THYAO.IS>, one of the country’s hardest-hit companies when the coronavirus pandemic halted nearly all flights, four sources told Reuters.

The sources close to the matter said the company, which flies to more destinations worldwide than any other airline, could receive capital or financing support, though nothing had yet been finalised.

It was unclear how much funding the Turkey Wealth Fund (TVF) could make available in what one source called a “bailout”. TVF declined to comment.

In a statement to the stock exchange, Turkish Airlines said the company had not received any information regarding talks being conducted for the provision of capital or financing support to the company.

Measures restricting movement in the wake of the pandemic have led to big losses, layoffs and closures

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NBA Player Now Lets You Invest In his Personal Wealth

The NBA season halted abruptly on March 11th due to the world-wide COVID-19 pandemic, and players have had to deal with circumstances in unchartered waters the last six months. Twenty-two NBA teams received the invite to the NBA bubble at Disney World in Orlando, Florida, and began somewhat of their regular basketball routine. However, eight teams were not invited and remained away from the fray even as the

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Credit Suisse Cutting Jobs in Middle East in Wealth Management Overhaul

(Bloomberg) — Credit Suisse Group AG is laying off about 20 people in the Middle East as it restructures wealth management activities in the region, according to people familiar with the matter.



a living room: Credit Suisse Group AG Ahead Of First Virus-Era Results


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Credit Suisse Group AG Ahead Of First Virus-Era Results

The job cuts — focused on Dubai — follow the decision to incorporate the business that deals with non-resident Indian and Africa clients under Middle East head Bruno Daher, the people said, asking not to be identified because the plans are private. Raj Sehgal, former head of that unit, is now the chairman of NRI and Africa.

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“We are committed to the non-resident Indian segment, and in order to further accelerate growth, we are bringing the operations in the broader Middle East and Africa region under one single leadership,” a bank spokeswoman said in an emailed statement. She declined to comment on the job cuts.

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