Federal Reserve Chairman Ben S. Bernanke can't be forced to testify in a lawsuit against the U.S. brought by Maurice “Hank” Greenberg over the government's bailout of American International Group Inc., a federal appeals court ruled.
BlackRock Inc. Chief Executive Officer Laurence D. Fink, who last year said he would invest 100% of his personal wealth in equities, said stock markets may decline as a result of the political debate over the debt ceiling.
Stock market crashes in October 1929 and 1987 caused the market to move more than 3.5% a day on average
Neil Woodford, who oversees the U.K.'s largest equity fund, is leaving Invesco Perpetual after more than 25 years to set up his own company.
Finance chiefs from nations holding more than $1.3 trillion of Treasuries signaled no plans to sell
Lawmakers shouldn't risk a default on U.S. debt because the impact would be devastating and the full extent of the damage isn't knowable in advance, said Jamie Dimon of JPMorgan Chase & Co.
BlackRock joined the two biggest providers of money-market mutual funds in reducing exposure to the riskiest U.S. Treasury maturities as investors stepped up withdrawals across the industry.
“Assets at the firm have dropped to levels that can no longer sustain the business,” Robert Savage, the chief strategist at FX Concepts, said in an e-mailed statement.
The world's biggest investors are finding U.S. government bonds becoming safer, not more risky, as the deadline to avoid the first American default approaches.
The congressional dispute will end “very rapidly,” said BlackRock's CEO Larry Fink
