BlackRock Enters New League With $450 Billion in Alternative Assets

Oct 11, 2024 | Markets

Fee-paying alternative assets edge closer to industry leaders Alternatives are small part of total but charge higher fees BlackRock Inc. reaching $450 billion in alternative assets is putting a finer point on a case it has been making all year: it’s not just an ETF...

Tesla Shares Sink After Musk’s Robotaxi Unveiling Disappoints

Oct 11, 2024 | Markets

CEO shows off two-seat Cybercab and spacious Robovan concept Carmaker has track record of blowing past product timelines Elon Musk unveiled Tesla Inc.’s highly anticipated self-driving taxi at a flashy event that was light on specifics, sending its stock sliding as...

US Consumer Spending Is Increasingly Driven by Richer Households

Oct 11, 2024 | Markets

Spending by low earners jumped with pandemic aid, then slowed Wealth effect of asset boom boosts top-end spending: Fed study The consumers powering US economic growth are increasingly those who are higher up the income ladder, and likely enjoying a wealth effect from...

Defense, Space Firms Partner on Orbital Craft for National Security Missions

Oct 11, 2024 | Markets

Impulse Space started by SpaceX employee no. 1 Tom Mueller Anduril founded by Oculus VR headset designer Palmer Luckey Venture-backed Impulse Space Inc. and weapons maker Anduril Industries Inc. are developing a supercharged spy vehicle capable of carrying out...

BlackRock Hits $11.5 Trillion With Push into Private Markets

Oct 11, 2024 | Markets, Private Markets

Total net flows hit record $221 billion last quarter Flows into fixed-income and private funds boosted performance BlackRock Inc. pulled in a record $221 billion of total client cash last quarter, pushing the world’s largest money manager to an all-time high of $11.5...