Here's Why Verizon, BlackRock Collaborated

• Verizon Communications Inc (NYSE:VZ) looks to build a private 5G network for BlackRock Inc at its new Hudson Yards headquarters, juicing up rivalry with AT&T Inc (NYSE:T) and T-Mobile US Inc (NASDAQ:TMUS).
• Verizon said that the new 5G wireless technology could replace Wi-Fi and give BlackRock the ability to use applications like virtual reality and edge computing that require nearly instantaneous network response time. 
• The leading asset manager looks to occupy 15 floors of the new 50 Hudson Yards tower on Manhattan’s West Side later this year or early next year, Bloomberg reports.
• BlackRock secured $25 million in tax credits from the state for keeping and creating jobs in New York.
• Price Action: VZ shares closed lower by 0.83% at $53.67 on Monday.