Quote of the week

"[People] don’t expect retirement to begin with social security and sit on the back deck in a lounge chair for the rest of their lives. This group really wants to remain active."

Jeff Cimini, head of personal retirement at Merrill Lynch

Weekly Poll

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UK-listed Barclays is looking to sell its entire 20 per cent interest in BlackRock, the asset management titan.

The market value of Barclays’ investment in BlackRock, based on the closing price of BlackRock common stock on 18 May, is $6.1 billion. Barclays currently holds BlackRock common stock and convertibles participating preferred stock totaling just under a fifth of BlackRock.

BlackRock, with $3.7 trillion in assets under management, has agreed to rebuy up to $1 billion of its stock from Barclays when the offering is completed.

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