BlackRock (BLK) Q2 Earnings Lag, Revenues & AUM Fall, Stock Down

AFP
Chip giant TSMC's April revenue jumps 60% on-year
Taiwanese chip giant TSMC's April revenue jumped nearly 60 percent on-year, the firm said Friday, riding a huge wave of demand for the advanced semiconductors used in AI hardware.This compares with a 34.3 percent on-year jump in March 2024.
Reuters
Analysis-Ukraine peace summit pushes neutral Swiss toward Western embrace
An upcoming Ukraine peace summit, ostensibly the most ambitious bid in years by neutral Switzerland to mediate a major conflict, is instead showing how Swiss economic and security interests increasingly align with Western Europe over Russia. This is the view of both Swiss advocates of closer cooperation with Western powers and nationalist opponents who say Switzerland is abandoning its neutral tradition and should limit the scope for foreign entanglements. Russia has not been invited to the June 15-16 talks taking place at a lakeside resort near the central city of Lucerne, which Switzerland agreed in January to host at the behest of Ukrainian President Volodymyr Zelenskiy.
Reuters
Foxconn's Q1 profit to jump from low base, AI to power growth
Taiwan's Foxconn, the world's largest contract electronics maker, is expected to report on Tuesday that first-quarter profit more than doubled on robust demand for artificial intelligence servers and after coming off a low base a year ago. Net profit for January-March for Apple's top iPhone assembler likely came in at T$29.3 billion ($904.6 million), according to an LSEG consensus estimate of 15 analysts. That would represent a 129% increase from the same period a year ago when profit sagged after the company took a T$17.3 billion writedown related to its 34% stake in Japanese electronics maker Sharp Corp. It would also mark a third consecutive quarter of profit growth.
Associated Press
British economy rebounds strongly in first quarter of the year, ending 'technical recession'
The British economy bounced back strongly in the first three months of the year, bringing to an end to what economists termed a “technical recession”, official figures showed Friday. The Office for National Statistics said the economy grew by 0.6% in the first quarter from the previous three-month period, with broad-based strength across the crucial services sector in particular. Despite the quarterly increase, the British economy has barely grown over the past year.
CNN
EVA Airlines flight attendants praised for breaking up a fistfight in the sky
Two passengers reportedly came to blows over a seat assignment. Flight attendants are winning praise for successfully defusing the fight.
NBC News
Virginia school board votes to restore names of Confederate leaders to schools
The school board in Shenandoah County, Virginia, early Friday approved a proposal that will restore the names of Confederate military leaders to two public schools.
Associated Press
Putin reappoints Mishustin as Russia's prime minister
Russian President Vladimir Putin on Friday reappointed Mikhail Mishustin as the country's prime minister after the previous stint on the job during which the low-key technocrat has shown a distinct lack of political ambitions. In line with Russian law, Mishustin, 58, who held the job for the past four years, submitted his Cabinet’s resignation on Tuesday when Putin began his fifth presidential term at a glittering Kremlin inauguration. Mishustin’s reappointment was widely expected by political observers, who noted that Putin has appreciated his skills and low political profile.
Associated Press
Stock market today: Asian shares trade higher after Wall St rally takes S&P 500 near record
Stocks in Asia traded higher Friday after a rally on Wall Street that pulled the S&P 500 back within 1% of its record. Benchmarks rose in Tokyo, Seoul, Sydney and China, where investors were focused on the release of April inflation figures. In Japan, the Finance Ministry reported a record current account surplus for the fiscal year through March, as strong auto exports whittled down its trade deficit and the nation racked up solid returns on overseas investments.
AFP
In Benin, tensions soar over cost of living
In the heart of Cotonou’s large Dantokpa market, Diane Makpenon's family corn shop is less busy than usual these days."Going to the market has become torture.
AFP
Iceland's 'Mammoth' raises potential for carbon capture
With Mammoth's 72 industrial fans, Swiss start-up Climeworks intends to suck 36,000 tonnes of CO2 from the air annually to bury underground, vying to prove the technology has a place in the fight against global warming.For the world to achieve "carbon neutrality" by 2050, "we should be removing something like six to 16 billion tonnes of CO2 per year from the air", said Jan Wurzbacher, co-founder and co-chief of Climeworks at the inauguration of the first 12 container fans at Mammoth.
Reuters
French minister vows better protection of military sexual abuse victims -Le Monde
French Defence Minister Sebastien Lecornu is putting in place a special task force to better protect victims and punish perpetrators of sexual violence in the army, he announced in an op-ed published by newspaper Le Monde. The task force, which is asked to review disciplinary proceedings and "come up with concrete recommendations to guide commanders", will be headed by the Inspector General of the Armed Forces and the Gendarmerie. The initiative aims to address the issue of sexual harassment and abuse within the military, an institution traditionally marked by silence around such issues which has come under increasing pressure after female soldiers this year started to call out sexual violence in local media.
AFP
From USSR to NATO, Albania showcases military past
A museum offering an unprecedented dive into Albania's dramatic military history has opened its doors, telling the story of how the once-reclusive country broke with its 40-year Communist past."It is a public space which tells the political history of the country through the history of the Albanian army," said museum director Arben Skenderi.
AFP
UK foreign minister David Cameron: life after Brexit
His legacy forever defined by Brexit, Britain's former prime minister David Cameron is hurriedly restoring his reputation -- and that of UK diplomacy -- as a globe-trotting foreign secretary.But with a new foreign secretary likely after the election, it is not yet clear what new legacy Cameron will leave behind.
Associated Press
Iranians vote in parliamentary runoff election after hard-liners dominate initial balloting
Iranians voted Friday in a runoff election for the remaining seats in the country's parliament after hard-line politicians dominated March balloting. People in 22 constituencies across the country will elect 45 representatives from a pool of 90 candidates, 15 of whom are considered moderate. In the capital, Tehran, 16 representatives will be chosen from 32 candidates, all hard-liners.
CNN
Virginia school board votes to restore Confederate names to two schools
School board members in Virginia’s Shenandoah County voted early Friday to restore the names of two schools that previously honored Confederate leaders – four years after those names had been removed.
Associated Press
Japanese game maker Sega Sammy sells resort to US fund
Sega Sammy is selling its resort complex Seagaia to Fortress Investment Group of the U.S., the Japanese entertainment company said Friday. Tokyo-based Sega Sammy Holdings, the company behind the “Sonic the Hedgehog” video games, said it will sell all its shares in Phoenix Resort Co., which operates Seagaia in Miyazaki, southwestern Japan. The move, approved by the Sega Sammy board of directors, will result in a gain of about 8.5 billion yen ($55 million) in extraordinary income for the fiscal year through March 2025.
Reuters
Philippines calls for expelling Chinese diplomats as South China Sea row escalates
MANILA (Reuters) -The Philippines' national security adviser called on Friday for Chinese diplomats to be expelled over an alleged leak of a phone conversation with a Filipino admiral in a significant escalation of a bitter row over the South China Sea. China's embassy in Manila had orchestrated "repeated acts of engaging and dissemination of disinformation, misinformation and malinformation", with the objective of sowing discord, division and disunity, Eduardo Ano said in a statement. China's embassy in Manila did not immediately respond to a request for comment on the call to expel diplomats.
Reuters
Blinken report expected to say Israel is not breaking weapons terms, Axios reports
The report, citing three officials, added that the State Department was reviewing the use of weapons by Israel and six other countries engaged in different armed conflicts. On Tuesday, Reuters reported that the Biden administration was set to miss a Wednesday deadline to report to Congress on whether Israel is violating international humanitarian law in Gaza.
Associated Press
Countries struggle to draft 'pandemic treaty' to avoid mistakes made during COVID
After the coronavirus pandemic triggered once-unthinkable lockdowns, upended economies and killed millions, leaders at the World Health Organization and worldwide vowed to do better in the future. A ninth and final round of talks involving governments, advocacy groups and others to finalize a “pandemic treaty” is scheduled to end Friday. The accord's aim: guidelines for how the WHO's 194 member countries might stop future pandemics and better share scarce resources.
Associated Press
'Where's Ronald Greene's justice?': 5 years on, feds still silent on Black motorist's deadly arrest
Mona Hardin has been waiting five long years for any resolution to the federal investigation into her son’s deadly arrest by Louisiana State Police troopers, an anguish only compounded by the fact that nearly every other major civil rights case during that time has passed her by. It took just months for Tyre Nichols ’ beating death last year to result in federal charges against five Memphis police officers.

BlackRock (BLK) Q2 Earnings Lag, Revenues & AUM Fall, Stock Down

Revenues & Expenses Down

AUM Balance Dips

Share Repurchase Update

Our View

BlackRock, Inc. Price, Consensus and EPS Surprise

Earnings Dates & Expectations of Other Asset Managers

Latest Stories

Chip giant TSMC's April revenue jumps 60% on-year

Analysis-Ukraine peace summit pushes neutral Swiss toward Western embrace

Foxconn's Q1 profit to jump from low base, AI to power growth

British economy rebounds strongly in first quarter of the year, ending 'technical recession'

EVA Airlines flight attendants praised for breaking up a fistfight in the sky

Virginia school board votes to restore names of Confederate leaders to schools

Putin reappoints Mishustin as Russia's prime minister

Stock market today: Asian shares trade higher after Wall St rally takes S&P 500 near record

In Benin, tensions soar over cost of living

Iceland's 'Mammoth' raises potential for carbon capture

French minister vows better protection of military sexual abuse victims -Le Monde

From USSR to NATO, Albania showcases military past

UK foreign minister David Cameron: life after Brexit

Iranians vote in parliamentary runoff election after hard-liners dominate initial balloting

Virginia school board votes to restore Confederate names to two schools

Japanese game maker Sega Sammy sells resort to US fund

Philippines calls for expelling Chinese diplomats as South China Sea row escalates

Blinken report expected to say Israel is not breaking weapons terms, Axios reports

Countries struggle to draft 'pandemic treaty' to avoid mistakes made during COVID

'Where's Ronald Greene's justice?': 5 years on, feds still silent on Black motorist's deadly arrest