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PsiQuantum, a Silicon Valley quantum computing startup, has raised over US$750 million, boosting its valuation to US$6 billion. The Australian government has invested US$940 million in the company, which is developing a photonics-based quantum computer and plans to build a facility in Brisbane by 2027. BlackRock leads the funding round, with participation from major investors including Microsoft’s M12 and Temasek.
The SEC emphasizes the need for reforms in money market funds to mitigate structural vulnerabilities that could destabilize short-term funding markets. Concerns arise over potential mandatory capital buffers and a central liquidity exchange bank, which could threaten the government money fund sector. As low interest rates continue to impact the industry, major players like Fidelity and Vanguard are adapting by shifting focus to ultra-short bond funds, while consolidation among larger firms may intensify due to increased regulatory costs.
Emirates NBD has partnered with BlackRock to create an investment platform that will provide wealth clients in the UAE access to private market investments, traditionally reserved for institutional investors. This initiative aims to broaden access to alternative investments, with an initial focus on income and growth strategies. BlackRock will leverage its expertise and resources to support Emirates NBD Asset Management's expansion in this rapidly growing sector.
The SEC emphasizes the need for reforms in money market funds to mitigate structural vulnerabilities that could destabilize short-term funding markets. Concerns arise over potential mandatory capital buffers and a central liquidity exchange bank, which could threaten the government money fund sector. As low interest rates continue to impact the industry, major players like Fidelity and Vanguard are adapting by shifting focus to ultra-short bond funds, while consolidation among larger firms may intensify, leading to an accidental oligopoly.
The taxpayer's stake in NatWest, formerly known as Royal Bank of Scotland, has dipped below 4%, now standing at 3.95% after a recent share sale. This marks a significant reduction from the 84% stake acquired during the 2008 bailout, as the bank moves closer to full privatization. Investment group BlackRock has taken over as the largest shareholder, while plans for a public sale of remaining shares were abandoned following the last general election.
Isabella Disler, formerly head of engineering for Goldman Sachs' Marcus consumer bank, has joined JPMorgan as MD and global head of observability. With a 23-year tenure at Goldman, she previously led firmwide engineering excellence and developer Gen AI initiatives. Disler's move follows a trend of MDs transitioning to JPMorgan after the closure of Marcus.
Fidelity has joined the ranks of BlackRock and UBS in the burgeoning market of tokenised Treasuries, which has surged to nearly $11 billion in value. The financial giant plans to launch an Ethereum-based money market fund, OnChain, primarily investing in US government bonds and cash, while maintaining traditional ownership records alongside blockchain transactions.
Emirates NBD has partnered with BlackRock to create an investment platform aimed at providing wealth management clients access to private markets, traditionally limited to institutional investors. The initiative will focus on private credit and multi-alternative investments, leveraging BlackRock’s extensive Alternative Investments platform, which manages over $450 billion in assets. This move responds to increasing demand for portfolio diversification and higher returns amid global market challenges.
Jamie Dimon, CEO of JP Morgan, hints at retirement, raising questions about his successor amid a competitive landscape. Potential candidates include Daniel Pinto, Jennifer Piepszak, Marianne Lake, Troy Rohrbaugh, and Mary Callahan Erdoes, each bringing unique strengths. The evolving cultural climate poses challenges, particularly for a female CEO, as the bank navigates its approach to diversity and inclusion.
Morgan Stanley's Mike Wilson highlights a shift in Wall Street's perception of President Trump's attitude towards the stock market, noting that analysts are concerned he no longer prioritizes it. This change comes amid a market correction and declining GDP expectations, with Wilson attributing the downturn to earnings revisions and other growth-negative factors, rather than tariffs alone.Despite the bearish sentiment, some investors see the market dip as a buying opportunity, with figures like BlackRock's Larry Fink advocating for purchasing lower-priced shares. Wilson himself acknowledges potential advantages for U.S. stocks as the dollar weakens, which could benefit larger cap names ahead of second-quarter earnings.
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PsiQuantum secures 750 million funding raising valuation to 6 billion
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05:10 27.03.2025
money market funds face potential reforms amid industry consolidation concerns
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05:10 26.03.2025
Emirates NBD and BlackRock launch platform for private market investments
03:30 26.03.2025
money market funds face potential reforms amid industry consolidation concerns
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American Funds Invmt Co of Amer A
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Vanguard S&P 500 ETF
Fidelity Balanced
BlackRock, Inc.
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Walter W Bettinger II
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03:19 26.03.2025
taxpayer stake in natwest falls below four percent as privatization nears
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21:25 25.03.2025
goldman sachs md isabella disler joins jpmorgan as global head of observability
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Isabella Disler
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18:49 25.03.2025
Fidelity launches tokenised money market fund amid growing real world asset market
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16:55 25.03.2025
emirates nbd and blackrock launch platform for private market investments
14:41 25.03.2025
the race to succeed jamie dimon at jp morgan intensifies
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Jane Fraser
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14:34 25.03.2025
Wall Street reacts as Trump shows indifference to stock market health
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Donald Trump
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12:20 25.03.2025
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