News Snapshot:
Billionaire investor George Soros said BlackRock Inc investing billions of dollars into China now is a "mistake" and will likely lose money for the asset manager's clients, according to an opinion piece in the Wall Street Journal. "Pouring billions of dollars into China now is a tragic mistake," Soros wrote in the op-ed. "It is likely to lose money for BlackRock's clients and, more important, will damage the national security interests of the U.S. and other democracies." Last month, BlackRock became the first foreign asset manager to operate a wholly owned mutual fund business in China, tapping the fast-growing US$3.6...
