BlackRock Financial News

A London-based money manager has just attached an ESG label to a Bitcoin exchange-traded fund, in a move that has environmental experts doing a double take.

Bitcoin, the pioneering cryptocurrency, currently trades at $26,111, marking a modest increase of nearly 0.25% as of Tuesday. 

Indian multinational conglomerate Reliance’s financial services arm – Jio Financial Services (JFS) – is tapping blockchain tech and central bank digital currencies (CBDCs) for its offerings.

Reliance Industries. “Jio Financial Services will enter the insurance segment to offer simple, yet smart, Life, General, and Health insurance products through a seamless digital interface, potentially partnering with global players," Ambani said in his address to shareholders at Reliance Industries’ Annual General Meeting (AGM) on Monday. JFS will use predictive data analytics to co-create contextual products with partners and cater to customer requirements in a truly unique way, Ambani added.

Jio Financial Services will enter the insurance sector, said Mukesh Ambani at Reliance's 46th annual general meeting (AGM) on Monday. "JFS will enter the insurance segment to offer simple, yet smart, Life, General, and Health insurance products through a seamless digital interface, potentially partnering with global players. It will use predictive data analytics to co-create contextual products with partners and cater to customer requirements in a truly unique way," said the Reliance Chairman. JFS plans to democratise financial services for 1.42 billion Indians, giving them access to simple, affordable, innovative, and intuitive products and services, he said. Mukesh Ambani talked about the joint venture of Jio Financial Services with US-based BlackRock, the world’s largest asset manager. «BlackRock is the world’s largest asset management company, managing assets worth over USD 11 trillion with a stellar reputation and track record.

Saurabh Mukherjea, Founder, Marcellus Investment Managers, says “the positive trigger is the China play because the scale of China's unwind is such that I find it hard to believe that it will not trigger broader connections in commodity prices and then on to on to inflationary numbers both for America and for India. The negative one in India's case is that we have got so many elections ahead of us. We got five assembly elections through the winter and then obviously the big one in the summer.” What could be the trigger now for the market? Earnings are good. Inflation is benign. Macro will keep on getting ups and downs here but in general is steady. Flows have been decent. The outlook by corporate India is not that bad. So for markets to move higher, what is next?If I have to pick one positive trigger and one negative trigger, the positive trigger is the China play because the scale of China's unwind is such that I find it hard to believe that it will not trigger broader connections in commodity prices and then on to on to inflationary numbers both for America and for India.

₹262 and within few minutes of listing the stock went on to hit lower circuit. However, weakness in Jio Financial share price continued further and the scrip went on to hit lower circuit on all five sessions last week.

Crypto trading platform Bitfinex has unveiled a feature that allows its Turkish customers to directly deposit Turkish Lira into their accounts without incurring any charges.

BlackRock Inc. backed fewer shareholder proposals on environmental and social issues over the past year as it stressed its commitment to the energy industry and navigated a debate over ESG investing.

Reliance Industries Limited will hold its annual general meeting (AGM) with the shareholders on August 28. Investors will be glued to this 46th Reliance industries AGM as Chairman Mukesh Ambani usually makes key announcements related to growth and expansion plans in these meetings. While major decisions are expected to unfold around new energy ambitions, succession plans, retail services and the telecom sector, the newly formed Jio Financial Services will be in focus as it was recently listed on the stock exchanges on August 21.What to expect? The meeting is expected to lay out a future plan for JFS that was demerged from RIL in July. Ambani is likely to share growth plans for the financial services business following its tie-up with the world’s largest asset manager, BlackRock, to take on India’s $540 billion mutual fund industry. JFS is likely to enter the B2B credit business first to leverage its large wholesale business network and then consumer lending. The aim is to lend to consumers and merchants based on proprietary data analytics, and then use it to branch out to insurance, payments, digital broking and asset management, according to Mukesh Ambani. As various financial services are governed by different regulatory frameworks, we believe, an independent financial services entity will allow us to access the opportunities available in the Indian market, said Ambani in the annual report of RIL. He also said JFS along with its subsidiaries will leverage the technological capabilities of Reliance and digitally deliver financial services, democratising access to financial services offerings for Indian citizens.

The cryptocurrency community remains undecided over the ownership of the third largest Bitcoin wallet. Many believe it belongs to BlackRock ahead of its Bitcoin ETF application that remains in limbo. 

(Reuters) — A group of wall street funds which lent cash to WeWork is exploring the possibility of a bankruptcy filing, the Wall Street Journal reported on Thursday citing people familiar with the creditors' talks.

The funds aim to maintain a net asset value of $/€/£ 1 per share while any excess earnings generated through interest on the portfolio holdings will be distributed to investors via dividends.

Beyond bond and money market funds, all other asset types faced outflows for the month.

There are three compelling reasons why a spot Bitcoin Exchange Traded Fund (ETF) approval really matters, crypto index fund manager Bitwise argued in a recently shared threat on Twitter.

Blue chip cryptocurrencies are falling once again this Tuesday, with Bitcoin (BTC) down around 1% on the day in the $25,800s and Ether (ETH) down 2% and back below $1,650.

Northvolt AB raised US$1.2 billion from North American investors including BlackRock Inc. and the Canada Pension Plan Investment Board as the Swedish battery maker is said to be in talks to set up a new factory in Canada.

The past week dealt a blow to Bitcoin's recent uptrend that started in June, steering us toward a critical support zone.

Reliance Industries (RIL), shares of the recently-demerged company Jio Financial Services or JFSL will list on stock exchanges at 10 am today. On both BSE and NSE, the stock with the symbol of JIOFIN will trade in the T Group segment for the first 10 days.

Bitcoin reached an almost two-month low as risk aversion weighs on the cryptocurrency market with global government bond yields climbing to the highest in about 15 years. «When you throw in what is happening in the bond market, it becomes easy for Bitcoin prices to soften,» Edward Moya, senior market analyst at Oanda, said in a note.

The US Securities and Exchange Commission is poised to allow the first exchange-traded funds based on Ether futures, a major win for several firms that long have sought to offer the products.