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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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Barclays Quits BlackRock

Category : Stocks

NEW YORK (TheStreet) — Barclays said Monday that it will to sell its $6.1 billion stake in BlackRock in an effort to meet new regulatory measures.

The second largest bank in Britain took a 19.6% stake in Blackrock, one of the world’s largest asset managers, when it sold its ETF and investment fund unit called Barclays Global Investors to BlackRock for about $15.2 billion in 2009.

Barclays sale of BGI was an effort to raise private capital during the financial crisis, as peer institutions like Royal Bank of Scotland were partially nationalized by the British government. In contrast, because Barclays stake in BlackRock will no longer count as capital when new Basel capital rules are enacted, Monday’s sale is an effort to meet new standards, as banks around the world follow suit. …

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Excerpt from: Barclays Quits BlackRock

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