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BlackRock profit drops 19% as Fink cites ‘crisis of confidence’ in banking sector
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BlackRock's profit fell nearly 20% in the first quarter, despite pulling in $110bn of new money and increasing its overall assets under management.
The New York headquartered firm, which reported first quarter earnings on 14 April, saw net income drop to $1.16bn between January and March, down 19% on the $1.44bn recorded during the same period...
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