Ed Kalecki

I'm Ed Kalecki.

This is Bloomberg.

A BlackRock private debt fund expects to mark down the net value of its assets 19% after a string of troubled loans weighed on results marking the latest sign of pressure in the private credit market.

BlackRock TCP Capital Corp.

expects to cut its net asset value per share to between $7.05 and $7.09 for the quarter ending December 31st.

BlackRock said it has waived one-third of its management fee for its last quarter.

Ed Kalecki, Bloomberg Radio.

News when you want it with Bloomberg News Now.

I'm Ed Kalecki.

Snow and dangerously bitter cold have begun to spread from the Rocky Mountains to the Great Lakes as a massive storm pushes toward the U.S.

Northeast, disrupting travel and threatening power outages for much of the nation.

The storm is expected to span nearly 1,500 miles, bringing heavy snow, crippling ice and sub-zero wind chill to some of the biggest U.S.

cities.

Natural gas prices surged on concern iced over equipment will choke supplies.

Airlines have already canceled more than 3,000 flights.

Amtrak has pulled dozens of trips from its schedule.

Chicago schools were closed Friday as the third largest U.S.

district braced for wind chills of 30 below, while ski resorts in Michigan took the unusual step of shutting slopes because of the extreme cold.

New York City Mayor Zoran Mamdani told residents in the nation's largest city...

that snow removal efforts have been prepared and that a decision will be made by 12 noon Sunday as to whether schools will be open Monday or if it will be a virtual learning day.