Canada Markets closed

Florida pulls $2 billion from BlackRock, SpaceX gets key approval from FCC, Biden hosts Macron

Yahoo Finance Live’s Julie Hyman breaks down notable business headlines which include Florida pulling $2 billion in funds from BlackRock, SpaceX receiving key approval to deploy Gen 2 Starlink satellites, and President Biden hosting French President Emmanuel Macron at his first state dinner.

Video Transcript

[AUDIO LOGO]

JULIE HYMAN: Let's get down to business with some other headlines that we're watching right now.

Florida is set to withdraw $2 billion of assets from asset manager BlackRock in the largest anti-ESG divestment by state. The Sunshine State's chief financial officer wrote that BlackRock CEO Larry Fink is, he says, on a campaign to change the world but using Florida's cash to fund the firm's social engineering project is not something the state signed up for.

In response, BlackRock said it's surprised by the decision given the strong returns delivered to Florida taxpayers in recent years, noting that the action put politics over investor interests. Florida's State Treasury will transfer all short and long investments to a new asset manager by early 2023.

Elon Musk's SpaceX received a key authorization from the Federal Communications Commission on Thursday, giving the company approval to launch up to 7,500 of its next generation Starlink internet satellites. The FCC did not grant SpaceX full application for deployment of nearly 30,000 satellites. It's deferring the decision on the application to launch the full number to address concerns about orbital debris and safe-- space safety. To date, SpaceX has about 3,500 first-generation satellites in orbit and about half a million subscribers.

And Maine lobster and caviar were just a couple of the dishes on the menu, Thursday, as President Biden rolled out the red carpet to host French President Emmanuel Macron and his wife at Biden's first state dinner. The leaders reiterated the resolve to hold Russia accountable for its widely documented atrocities and war crimes, as well as their commitment to each other as allies and friends, ahead of negotiations over subsidies for US products and other issues. This olive branch comes a year after the US interrupted a multibillion dollar submarine deal for France.

Also in attendance were celebrities, lawmakers, and industry titans, including CEOs of companies like Boeing-- that is David Calhoun-- and Walgreens' Rosalind Brewer, as well as Apple's Tim Cook. Brad.

BRAD SMITH: All right, I'm sorry, I couldn't make it.