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AI Hype Supercharges Chinese Stocks to a Three-Year High

(Bloomberg) -- Chinese stocks in Hong Kong extended a recent rally as the nation’s growing capabilities in artificial intelligence boosted optimism over the market’s outlook, while a potentially momentous show of support for the private sector gave sentiment an extra lift. Most Read from BloombergProgressive Portland Plots a ComebackWhy American Mobility Ground to a HaltSpaceX Bid to Turn Texas Starbase Into City Is Set for Vote in MaySaudi Arabia’s Neom Signs $5 Billion Deal for AI Data CenterC

BlackRock ties Fink's pay to private market expansion

Top asset manager BlackRock said on Friday it has changed the way Chairman and CEO Larry Fink will be compensated to reflect the company's recent expansion into private markets, which Fink spearheaded last year. BlackRock, whose assets grew to $11.6 trillion last year, said in a U.S. Securities and Exchange Commission filing it has included "carried interest" in Fink's compensation, an executive incentive paid in the alternative asset management industry consisting of a share of the profits that funds generate.

Newmark (NASDAQ:NMRK) Posts Better-Than-Expected Sales In Q4

Real estate services firm Newmark (NASDAQ:NMRK) beat Wall Street’s revenue expectations in Q4 CY2024, with sales up 18.8% year on year to $888.3 million. The company expects the full year’s revenue to be around $3 billion, close to analysts’ estimates. Its non-GAAP profit of $0.55 per share was 13.6% above analysts’ consensus estimates.