BlackRock

Main Street Investors Force Big Changes in Wall Street's Fees

Historically, the asset management industry has been merely an easy way for money managers to get rich at your expense. Even today, 401(k) fees alone rob us of $60 billion a year. But investors have caught on and are demanding lower fees -- and lately, they've started getting them.

The 7 Safest Banks in America

Moody's downgrade of 15 of the world's largest banks, along with JPMorgan Chase's multibillion-dollar trading loss, make it clear that big banks aren't always as safe as we'd hope. Still, we have to keep our money somewhere -- So 24/7 Wall St. has compiled a list of the nation's safest banks.

Best of the Financial Web: The Monitor Award Winners

Tens of millions of Americans take to the Web regularly to do our most important financial business. As we do, the company Corporate Insight is tracking which institutions are offering customers the best new online innovations. Here's what CI found:

Why Bank of America Sold Its BlackRock Stake

BlackRock, the world's largest publicly traded asset management firm, recently agreed to buy back Bank of America's remaining 7% stake in the company for about $2.5 billion. Trefis looks at why Bank of America is selling, what the buyback means for BlackRock, and what the effect will be for its stock.

Bank of America Says It's Ready to Exit TARP

Bank of America has told U.S. regulators that it has met the final condition that was set on its plan to exit the government's Troubled Asset Relief Program. BofA, which repaid $45 billion in TARP funds in December 2009, needed to raise $3 billion in capital by the end of 2010.

Carlos Slim Buys Stake in BlackRock

Carlos Slim, the world%u2019s richest man, bought a stake in BlackRock Inc. (BLK), the world%u2019s largest asset manager. Mexican billionaire Slim bought a stake worth less than 2% of the asset manager, Bloomberg News reported. Slim spokesman Arturo Elias did not give details on the exact size of the stake.

Mizuho to Take $500 Million Stake in BlackRock

Mizuho Financial Group (MFG), Japan%u2019s third-largest bank, will take a $500 million stake in asset manager BlackRock Inc. (BLK) Mizuho will buy a total of 3.07 million shares of BlackRock for $163 a share, Bloomberg News said. The purchases will give Mizuho a 2% stake in BlackRock.

BlackRock Trims Its Microsoft Holdings Below 5%

Investment management giant BlackRock has sliced its Microsoft stake by almost 10%, joining several other large investors who took a machete to their holdings of the software giant this year as its share price significantly underperformed the market, according to a Reuters report.

BlackRock Shares Slide on News of Secondary Offering

BlackRock's stock price fell sharply on Wednesday morning after the global investment management firm confirmed that Bank of America and PNC Financial Services would sell 42 million of its shares in a secondary offering.

Bank of America Considering Reducing BlackRock Stake

Bank of America Corp. (BAC) is considering reducing its 34% stake in asset manager BlackRock Inc., Bloomberg News reported. The bank has not made a final decision and no deal is imminent, Bloomberg News said without naming its sources. The stake%u2019s carrying value was $10.1 billion as of June 30. Its fair market value was $9.3 billion, according to a regulatory filing from Aug. 6.