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BlackRock News

News on BlackRock continually updated from thousands of sources around the net.

5 hrs ago | ClipSyndicate

Market Outlook: With Positive Earnings and Fed Helping, Now is Not the Time to Be Bearish

Kevin Rendino of BlackRock Inc via ClipSyndicate

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16 hrs ago | Hugh Hewitt

UBS reports 1Q net loss $11 billion

“We can see tangible effects as a result of our initial responses to the losses”

Swiss bank UBS, hard hit by the U.S. subprime crisis, reported a first-quarter loss of $10.97 billion and said Tuesday it will slash almost 7 percent of its work force. via Hugh Hewitt

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Sunday | Eircom.net News

End comes for brave Nuala in cancer battle

Writer dies just weeks after public revelation that she had disease THE end when it came for Nuala O'Faolain was mercifully swift. via Eircom.net News

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Saturday May 10 | The Belfast Telegraph

Journalist Nuala O'Faolin dies aged 66

Journalist and author Nuala O Faolin has passed away at the age of 66. She recently announced that she was terminally ill with cancer. via The Belfast Telegraph

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Friday May 9 | The Washington Post

UBS Reports $11 Billion Loss, Plans To Cut Jobs

“The impact of the investment banking group has an effect on the entire whole by bringing down the brand's value.”

UBS says it will cut 2,600 investment banking jobs, as Legg Mason posts first loss in 25 years. via The Washington Post

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Thursday May 8 | Chico Enterprise-Record

UCLA gets $10 million gift

A management school at the University of California, Los Angeles, has received a $10 million gift from a former student and his wife, the school's dean announced Thursday. via Chico Enterprise-Record

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Thursday May 8 | International Herald Tribune

BlackRock to the rescue

“We get called on all the time, but it's often not public”

One Saturday morning in March, Laurence Fink got some urgent news: Wall Street needed his help. via International Herald Tribune

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Wednesday May 7 | Irish Independent

Swiss giant cuts jobs as losses soar to $17.3bn

UBS, battered by $17.3bn of first-quarter losses at its investment-banking unit, plans to cut 5,500 jobs and said clients withdrew a net $12.2bn from its asset- and wealth-management divisions. via Irish Independent

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Wednesday May 7 | On Wall Street

BlackRock to Buy a UBS Portfolio

“This gives everyone something to price off of. This is very favorable for companies that have been waiting to sell these assets.”

BlackRock Inc.'s deal to buy a portfolio of subprime mortgage debt from UBS AG for $15 billion may have helped set a market-clearing price for such assets. via On Wall Street

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Tuesday May 6 | MarketWatch

UBS to cut 5,500 jobs, sell $15 bln portfolio to BlackRock

“UBS expects this difficult environment to remain and be characterized by a continuing unfavorable global economic climate, de-leveraging by institutional and private investors, slower wealth creation and lower trading and capital market activity”

Troubled Swiss banking group UBS said Tuesday that it plans to cut 5,500 jobs and sell a $15 billion chunk of its risky mortgage assets to BlackRock Inc. via MarketWatch

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