January 17, 2014 |
Dropbox has reportedly closed another round of funding, raising $250 million for a $10-billion valuation. The latest round of investments was led by BlackRock Inc., according to the Wall Street Journal, which cites unnamed sources for its Friday report . A spokeswoman for Dropbox declined to comment. The San Francisco company specializes in cloud-storage software that lets users save items within a file on their computer that they can...
December 3, 2013 |
Proceed with a caution. The green light has turned yellow. That's what top equity strategists at T. Rowe Price, a major investment firm, are telling investors as this year's stock market rally shows little sign of easing. "We're starting to see signs of caution in the market," John Linehan, head of U.S. equities at T. Rowe Price, said at a media briefing in New York on Tuesday. The Dow Jones industrial average is up more than 21% for the year, while the broader Standard & Poor's 500 has rocketed 26% this year.
October 9, 2013 |
NEW YORK -- President Obama's nomination of Janet Yellen to lead the Federal Reserve was not a surprise to Wall Street. Yellen, currently the Fed's vice chair, is widely expected -- for better or for worse -- to continue the policies of Ben S. Bernanke, the central bank's soon-to-depart chairman. The Fed has been trying to prop up the U.S. economy with an unprecedented stimulus program known as quantitative easing. By buying bonds to keep a lid on interest rates and borrowing costs low, the Fed has tried to stimulate growth.
March 28, 2013 |
NEW YORK - The new high in the Standard & Poor's 500 index is a fitting exclamation point for an impressive first quarter in the stock market. The index of 500 large U.S. companies capped a four-year rally Thursday, recouping all of its losses from the 2008 global financial crisis. The milestone underscored investors' enthusiasm over the increasingly buoyant U.S. economy. The S&P 500 is one of the last major market gauges to hit a new high. Other indexes, including the Dow Jones industrial average, already eclipsed their previous peaks from late 2007.
November 19, 2011 |
Reporting from New York and Los Angeles - When the U.S. government needed expert help in evaluating the bonds that caused the 2008 financial crisis, there were only two men it could turn to. Larry Fink, the founder of investment giant BlackRock Inc., and Bill Gross, the founder of Pacific Investment Management Co., are the generally acknowledged kings of the bond universe. Together, the companies they run hold approximately 7.5% of all outstanding bonds. The $1.2 trillion managed by BlackRock and the $1.1 trillion at Pimco dwarf the holdings of the next largest bond players, according to data from Pensions & Investments.
June 29, 2011 |
In the latest blow from its takeover of Countrywide Financial Corp., Bank of America Corp. tentatively agreed to pay $8.5 billion to settle claims by large investors stung by losses on mortgage-related securities that Countrywide issued. The final details of the agreement were still being worked out, according to a bank executive knowledgeable about the pending settlement but not authorized to discuss it publicly. The 22 investors, including money-management giants Pacific Investment Management Co. of Newport Beach and BlackRock Inc. of New York, held $56 billion in bonds backed by loans from Countrywide, once the nation's largest home lender and an aggressive supplier of subprime and other high-risk mortgages.