BlackRock’s Fink expects ‘huge’ rush into underinvested stock market
The U.S. economy is speeding up again after a slowdown in recent months and cash could soon start rushing into stocks as most investors are underinvested in the markets globally, BlackRock Inc’s Chief Executive Larry Fink said on Tuesday.
Kenyan family files lawsuit against Boeing over Ethiopian Airlines crash
A Kenyan family has filed a lawsuit in Chicago against American aviation giant Boeing over a March 10 Ethiopian Airlines crash that killed 157 people, lawyers and family members said on Tuesday.
Oil steadies as market focuses on supply risks
Oil prices were steady on Tuesday, as fighting in Libya and falling Venezuelan and Iranian exports raised concerns over tightening global supply, but uncertainty surrounding an OPEC-led production cut limited gains.
China’s policy stimulus may worsen economic distortions: OECD
China’s stimulus measures will shore up economic growth this year and next but may undermine the country’s drive to control debt and worsen structural distortions over the medium term, the OECD said in a report on Tuesday.
India’s Jet Airways faces imminent shutdown without emergency funds: sources
India’s Jet Airways Ltd will be forced to shut down as soon as Wednesday if it does not get emergency funding from its lenders, two sources familiar with the matter said on Tuesday.
Wall St. rises on tech boost, robust Johnson & Johnson earnings
U.S. stocks rose on Tuesday, powered by stellar results from healthcare conglomerate Johnson & Johnson and gains in technology stocks, with the benchmark S&P 500 less than a percent away from its all-time high.
Oil holds above $71 as supply risks back in focus
Oil held above $71 a barrel on Tuesday, supported by falling Venezuelan and Iranian exports and fighting in Libya that raised concerns of more supply threats, outweighing expectations of higher U.S. inventories.
U.S. manufacturing output flat as auto production falls
U.S. manufacturing output was unchanged in March after two straight monthly declines, leading to the largest quarterly decrease in production since 2017.
BlackRock profit beats estimates as assets rebound above $6 trillion
BlackRock Inc, the world’s largest asset manager, reported first-quarter profit that exceeded expectations and raked in $65 billion of new investor cash as global financial markets rebounded from a volatile fourth quarter.
Starboard takes new position in KAR Auction Services
Activist investment firm Starboard Value has taken a new position in KAR Auction Services, the firm’s founder Jeffrey Smith said at a conference on Tuesday.
