Page 5 - Michael Pyle News Today

There is More to BlackRock Than You Might Imagine A virtually unregulated investment firm today exercises more political and financial influence than the Federal Reserve and most governments on this planet. The firm, BlackRock Inc., the world’s largest asset manager, invests a staggering $9 trillion in client funds worldwide, a sum more than double the annual GDP of the Federal Republic of Germany. This colossus sits atop the pyramid of world corporate ownership, including in China most recen...

WASHINGTON – President Joe Biden was minutes into his first address to a joint session of Congress. His prepared remarks called for him to say that he was “asking the vice president to lead” the effort to pass his infrastructure plan. But when Biden got to the line, he shifted to face Kamala Harris, who was sitting on the dais above him, and added the phrase “if she would.” “Of course,” Harris ...

"An important part of the solution to moving that needle was going to be working with JPM and working with BofA to help make sure they were getting the support they needed to drive those priorities," the official told CNBC. "These are just going to be huge players in the PPP in terms of delivering on those goals just precisely because of the scale that they bring." A Bank of America spokesperson described the conversation as "productive." A representative from JPMorgan didnt immediately respond...

Kamala Harris, nearly 100 days in, has been visible as Biden’s VP. But is she influential? Updated 10:50 PM; Today 10:50 PM Vice President Kamala Harris, left, listens as President Joe Biden delivers remarks on the guilty verdict against former policeman Derek Chauvin at the White House in Washington, D.C., on Tuesday, April 20, 2021. (Brendan Smialowski/AFP via Getty Images/TNS)TNS Facebook Share WASHINGTON – When President Joe Biden delivered a rare nationally televised address last we...

Kamala Harris, nearly 100 days in, has been visible as vice president. But is she influential? “The president sets the tone and the agenda and we are complementary to making sure that we’re bringing her unique lived experience,” said Rohini Kosoglu, Harris’ domestic policy adviser who previously served as her Senate chief of staff. Harris has just one solo assignment — working with Mexico and three Central American nations to discourage immigration to the United States — a fraught t...

WASHINGTON —  When President Biden delivered a rare nationally televised address last week, he shared the platform with Vice President Kamala Harris, who helped him make the case that former Minneapolis police Officer Derek Chauvin’s murder of George Floyd created an urgency to change policing laws. That moment following the Chauvin trial would have seemed improbable 20 months ago in the heat of a Democratic presidential primary debate: Then-candidate Harris lectured rival Biden on the na...

The Biden Administration Is Quietly Obsessing Over Inflation A monthslong effort to monitor and model economic trends inside the White House and the Treasury Department found little risk of prices spiraling upward faster than the Fed can manage. President Biden received a weekly briefing from his economic team this month. A close circle of advisers has been working to determine whether the economy is at a risk of overheating.Credit...Amr Alfiky/The New York Times April 13, 2021Updated 5:38 p.m....

Racial Equity Audits Gain Traction with BlackRock Seal of Approval Apr 07, 2021 The murder of George Floyd last May forced a reckoning among leading U.S. companies that claim to support racial justice and equality. For all the talk of diversity and inclusion, institutional racism is baked into American society. Now the global money management firm BlackRock is raising the bar. The company has taken the rare step of committing to a third-party racial equity audit, with the aim of exposing its ow...

BlackRock capital finance works with Republicans and Democrats By Werner Rügemer  Translation: John Catalinotto   No sooner was it clear that Joe Biden had won the U.S. presidential election, than he brought Brian Deese on board: Head of the department for global sustainable investing at the U.S. investment firm BlackRock, Deese will become the president’s chief economist. BlackRock’s chief Lawrence Fink is, after all, the spokesperson of Western world capital for “sustainability.” ...

This story is available exclusively to Insider subscribers. Become an Insider and start reading now. BlackRocks chief executive struck a defensive tone on Thursday during a call to discuss fourth-quarter earnings when an analyst asked about the asset management industrys regulatory landscape. "The concept that the asset management industry is not regulated — that must be coming from bankers. Were not a bank," CEO Larry Fink said on the call.  BlackRock is ...