We’ve Traded Climate Denial for Climate Hypocrisy

Today the rhetorical war has largely been won, but the outlook grows a lot more confusing when everyone agrees to agree.

#blackrock-inc, #carbon-dioxide, #corporate-social-responsibility, #global-warming, #greenhouse-gas-emissions, #internal-sub-only-nl, #united-nations-framework-convention-on-climate-change

How an Organized Republican Effort Punishes Companies for Climate Action

Legislators and their allies are running an aggressive campaign that uses public money and the law to pressure businesses they say are pushing “woke” causes.

#banking-and-financial-institutions, #blackrock-inc, #boycott-divestment-and-sanctions-bds, #colleges-and-universities, #corporate-social-responsibility, #environment, #fink-laurence-d, #global-warming, #greenhouse-gas-emissions, #law-and-legislation, #oil-petroleum-and-gasoline, #pensions-and-retirement-plans, #republican-party, #states-us, #united-states-economy, #united-states-politics-and-government

The Rules for Hybrid Work Were Always Made Up

As more and more workplaces pause or end the expectation of three days a week in the office, a large-scale return may never be on the horizon.

#airbnb, #apple-inc, #blackrock-inc, #citigroup-inc, #coronavirus-return-to-office, #dunn-zach, #goldman-sachs-group-inc, #jefferies-group-inc, #labor-and-jobs, #robin-org, #workplace-environment, #zillow-com

BlackRock, Vanguard and State Street Control a Piece of Nearly Everything

BlackRock, Vanguard and State Street collectively manage more than $20 trillion in assets. It’s not a political problem, but it might be an economic one.

#antitrust-laws-and-competition-issues, #blackrock-inc, #boards-of-directors, #bogle-john-c, #global-warming, #personal-finances, #shareholder-rights-and-activism, #standardpoors-500-stock-index, #state-street-corporation, #stocks-and-bonds, #united-states-economy, #vanguard-group-inc, #vivek-ramaswamy

Bolt Built $11 Billion Payments Business With Inflated Metrics and Eager Investors

The start-up has had a meteoric rise, thanks to its charismatic co-founder, Ryan Breslow. But he sometimes stretched the truth to get there.

#advertising-and-marketing, #authentic-brands-group, #blackrock-inc, #brooks-brothers, #e-commerce, #entrepreneurship, #fashion-and-apparel, #forever-21, #shopify-inc, #shopping-and-retail, #stanford-university, #start-ups, #stripe-inc, #venture-capital

As Offices Ease Covid Safety Measures, Workers Worry

Using local guidelines, many companies are loosening Covid safety rules, leaving workers to navigate masking and social distancing on their own.

#blackrock-inc, #coronavirus-2019-ncov, #coronavirus-return-to-office, #jefferies-group-inc, #jpmorgan-chasecompany, #masks, #morgan-stanley, #partnership-for-new-york-city, #quarantine-life-and-culture, #wells-fargocompany, #workplace-environment, #wylde-kathryn-s

Dollars or Rubles? Russian Debt Payments Are Due, and Uncertain.

Citing sanctions, the Russian government warned it might pay foreign debt obligations in rubles. Credit rating agencies say a default is imminent.

#blackrock-inc, #credit-and-debt, #credit-ratings-and-credit-rating-agencies, #currency, #embargoes-and-sanctions, #european-central-bank, #fitch-ratings, #government-bonds, #jpmorgan-chasecompany, #politics-and-government, #ruble-currency, #russia, #russian-invasion-of-ukraine-2022, #siluanovanton, #us-dollar-currency, #vanguard-group-inc

Big Business Will Not Save Us From Itself

There is no way to bypass the arduous, contentious work of building a politics that can sustain a better democracy. 

#blackrock-inc, #business-roundtable, #corporate-social-responsibility, #fink-laurence-d, #global-warming, #great-depression-1930s, #income-inequality, #labor-and-jobs, #manchin-joe-iii, #organized-labor, #senate, #sinema-kyrsten, #strikes, #united-states, #united-states-chamber-of-commerce, #united-states-economy, #wages-and-salaries

Larry Fink’s Letter to CEOs Says Stakeholder Capitalism Is Not ‘Woke’

Larry Fink’s latest annual letter to corporate America clarifies, and defends, his approach to social and environmental issues at the world’s largest money manager.

#blackrock-inc, #corporate-social-responsibility, #fink-laurence-d

Why Some Workers Are Getting All the Covid Tests They Need

In the absence of a national effort to make coronavirus testing widely available, a number of big American companies ramped up their own, making tests available for a select group of workers.

#blackrock-inc, #coronavirus-2019-ncov, #coronavirus-return-to-office, #goldman-sachs-group-inc, #google-inc, #jpmorgan-chasecompany, #medicine-and-health, #microsoft-corp, #morgan-stanley, #tests-medical, #workplace-hazards-and-violations

Wall Street Is Finally Getting Access to China. But for How Long?

Citigroup, JPMorgan Chase and Goldman Sachs are among those eyeing huge potential profits, undeterred by Beijing’s sudden policy changes and friction with the United States.

#banking-and-financial-institutions, #blackrock-inc, #china, #citigroup-inc, #financial-brokers, #goldman-sachs-group-inc, #high-net-worth-individuals, #jpmorgan-chasecompany, #politics-and-government

Rich Countries’ Climate Change Responsibility

What it will take: $100 billion from well-off nations.

#banking-and-financial-institutions, #blackrock-inc, #european-union, #global-warming, #greenhouse-gas-emissions, #international-monetary-fund, #international-trade-and-world-market, #organization-for-economic-cooperation-and-development, #third-world-and-developing-countries

Why Wall Street Backs China Despite Beijing’s Tighter Grip

Beijing is opening its financial system to foreign banks — and they have maintained their traditional openness to the Communist Party’s rule.

#banking-and-financial-institutions, #blackrock-inc, #china, #economic-conditions-and-trends, #foreign-investments, #goldman-sachs-group-inc, #jpmorgan-chasecompany, #stocks-and-bonds, #united-states-international-relations

Behind the Lordstown Debacle, the Hand of a Wall Street Dealmaker

A longtime real estate investor and former Goldman Sachs executive decided to take an electric truck company public. Chaos ensued.

#automobiles, #banking-and-financial-institutions, #blackrock-inc, #cleveland-ohio, #detroit-mich, #diamondpeak-holdings, #electric-and-hybrid-vehicles, #general-motors, #goldman-sachs-group-inc, #initial-public-offerings, #lordstown-ohio, #lordstown-motors-corp, #mckinseyco, #mergers-acquisitions-and-divestitures, #ohio, #slovenia, #special-purpose-acquisition-companies-spac, #stocks-and-bonds, #suits-and-litigation-civil, #workhorse-group-inc

Buffett Weighs In on Tax-Free Philanthropy

The Berkshire Hathaway chief, who has given away billions, asks whether donations should keep their special status.

#bdt-capital-partners-llc, #blackrock-inc, #buffett-warren-e, #federal-home-loan-mortgage-corp-freddie-mac, #federal-housing-finance-agency, #federal-national-mortgage-assn-fannie-mae, #fink-laurence-d, #high-net-worth-individuals, #philanthropy, #trott-byron-d, #wolin-neal-s

Top U.S. Officials Consulted With BlackRock as Markets Melted Down

The world’s largest asset manager was central to the pandemic crisis response. Emails and calendar records underscore that critical role.

#banking-and-financial-institutions, #blackrock-inc, #coronavirus-2019-ncov, #credit-and-debt, #federal-reserve-bank-of-new-york, #federal-reserve-system, #fink-laurence-d, #mnuchin-steven-t, #powell-jerome-h, #treasury-department, #united-states-economy, #united-states-politics-and-government

Exxon Mobil Defeated by Activist Investor Engine No. 1

The energy giant’s stunning loss was the work of a tiny hedge fund that believes investing for social good is also good for the bottom line.

#blackrock-inc, #boards-of-directors, #engine-no-1-gp-llc, #exxon-mobil-corp, #global-warming, #greenhouse-gas-emissions, #hedge-funds, #oil-petroleum-and-gasoline, #shareholder-rights-and-activism, #state-street-corporation, #vanguard-group-inc

‘We Were Left With Nothing.’ Argentina’s Misery Deepens in the Pandemic.

The economy contracted by nearly 10 percent last year, and the country faces a reckoning with the I.M.F. over $45 billion in debts.

#argentina, #blackrock-inc, #coronavirus-2019-ncov, #credit-and-debt, #economic-conditions-and-trends, #fernandez-alberto-1959, #georgieva-kristalina-ivanova, #inflation-economics, #international-monetary-fund, #international-trade-and-world-market, #macri-mauricio, #politics-and-government, #poverty, #recession-and-depression, #united-states

Delta and Coca-Cola Reverse Course on Georgia Voting Law, Stating ‘Crystal Clear’ Opposition

Prominent Black executives had called on companies to publicly oppose a wave of similarly restrictive voting bills that Republicans are advancing in almost every state.

#bastian-edward-h, #black-people, #blackrock-inc, #chenault-kenneth-i, #coca-cola-company, #delta-air-lines-inc, #discrimination, #fink-laurence-d, #georgia, #law-and-legislation, #voter-fraud-election-fraud, #voter-registration-and-requirements, #walker-darren-1959

WeWork Will Go Public in a Merger With a SPAC

The money-losing office space firm plans to merge with a blank-check company backed by big Wall Street investors.

#blackrock-inc, #co-working, #initial-public-offerings, #mergers-acquisitions-and-divestitures, #neumann-adam, #ranadive-vivek, #real-estate-commercial, #softbank-corporation, #son-masayoshi, #starwood-capital-group, #stocks-and-bonds, #wework-companies-inc

Bill Gates Is Worried About Bitcoin’s Carbon Footprint

It’s all about the carbon footprint.

#bitcoin-currency, #blackrock-inc, #gates-bill, #lincoln-project, #nasdaq-stock-market, #storming-of-the-us-capitol-jan-2021, #united-states-chamber-of-commerce

Why Bill Gates Is Worried About Bitcoin

It’s all about the carbon footprint.

#bitcoin-currency, #blackrock-inc, #gates-bill, #lincoln-project, #nasdaq-stock-market, #storming-of-the-us-capitol-jan-2021, #united-states-chamber-of-commerce

Companies Say They Care About the Climate. Their Actions Fall Short.

Many big businesses have not set targets for reducing greenhouse gas emissions. Others have weak goals.

#alternative-and-renewable-energy, #blackrock-inc, #boards-of-directors, #brazil, #carbon-dioxide, #carbon-disclosure-project-cdp, #cargill-inc, #corporations, #electric-light-and-power, #fuel-emissions-transportation, #global-warming, #google-inc, #greenhouse-gas-emissions, #institutional-shareholder-services-inc, #levi-straussco, #microsoft-corp, #standardpoors-500-stock-index, #stocks-and-bonds, #united-states

BlackRock’s Larry Fink Sets a Bolder Climate Goal in Annual Letter

Larry Fink is using his firm’s huge influence to pressure companies to eliminate greenhouse gas emissions by 2050.

#blackrock-inc, #carbon-caps-and-emissions-trading-programs, #corporate-social-responsibility, #fink-laurence-d, #global-warming, #greenhouse-gas-emissions, #income-inequality, #stocks-and-bonds

Blackstone’s Schwarzman Stays Loyal to Trump

The Blackstone chief executive stuck with President Trump despite the occasional slight, and stopped short of criticizing Mr. Trump even after the Capitol attack.

#biden-joseph-r-jr, #blackrock-inc, #presidential-election-of-2020, #schwarzman-stephen-a, #storming-of-the-us-capitol-jan-2021, #treasury-department, #trump-donald-j, #united-states-politics-and-government

Biden Pick for Deputy Treasury Secretary Breaks Racial Barrier

Adewale Adeyemo’s role in the Trans-Pacific Partnership negotiations and work at BlackRock could complicate his confirmation hearings.

#adeyemo-adewale, #appointments-and-executive-changes, #biden-joseph-r-jr, #blackrock-inc, #consumer-financial-protection-bureau, #obama-foundation, #regulation-and-deregulation-of-industry, #treasury-department, #united-states-politics-and-government

Biden Faces a Balancing Act in Choosing Top Aides With Business Ties

Jeffrey Zients, a candidate to lead the administration’s coronavirus response team, is arousing resistance from some progressive Democrats.

#better-markets-inc, #blackrock-inc, #coronavirus-2019-ncov, #facebook-inc, #justice-democrats, #national-economic-council-us, #office-of-management-and-budget-us, #presidential-transition-us, #revolving-door-project, #zients-jeffrey-d

How One Firm Drove Influence Campaigns Nationwide for Big Oil

FTI, a global consulting firm, helped design, staff and run organizations and websites funded by energy companies that can appear to represent grass-roots support for fossil-fuel initiatives.

#blackrock-inc, #environment, #exxon-mobil-corp, #fti-consulting-inc, #global-warming, #greenhouse-gas-emissions, #hydraulic-fracturing, #independent-petroleum-assn-of-america, #main-street-investors-coalition, #natural-gas, #oil-petroleum-and-gasoline

More Workers Get Help in Building Rainy Day Savings

The pandemic has shown the need for a financial cushion. Now, some companies are offering programs that automatically deduct money from paychecks.

#blackrock-inc, #content-type-service, #coronavirus-2019-ncov, #employee-fringe-benefits, #personal-finances, #savings, #united-parcel-service-inc

Finding the Right Path in an Up-and-Down Market

Does the latest twist herald the end of a bull run or the beginning of a shift toward long-neglected niches?

#american-express-company, #banking-and-financial-institutions, #blackrock-inc, #chegg-inc, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #federal-reserve-system, #goldman-sachs-group-inc, #inflation-economics, #intercontinental-exchange-inc, #interest-rates, #lazard-llc, #leuthold-group, #medtronic-inc, #nasdaq-composite-index, #netflix-inc, #recession-and-depression, #roku, #standardpoors-500-stock-index, #stimulus-economic, #stocks-and-bonds, #trump-donald-j, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government, #vanguard-group-inc

Stakeholder Capitalism Gets a Report Card. It’s Not Good.

The pandemic and the movement for racial justice have tested corporate pledges to elevate social concerns alongside shareholder interests. A new study finds companies are failing to follow through.

#amazon-com-inc, #benioff-marc, #blackrock-inc, #boards-of-directors, #business-roundtable, #capitalism-theory-and-philosophy, #coronavirus-2019-ncov, #corporate-social-responsibility, #corporations, #ford-foundation, #marriott-international-inc, #wages-and-salaries

In Argentina’s Debt Negotiations, a Kinder, Gentler Capitalism Faces a Test

BlackRock, the world’s largest asset management company, is opposing a debt settlement deal with Argentina as the country grapples with soaring poverty and the pandemic.

#argentina, #blackrock-inc, #business-roundtable, #coronavirus-2019-ncov, #corporate-social-responsibility, #economic-conditions-and-trends, #fernandez-alberto-1959, #fink-laurence-d, #georgieva-kristalina-ivanova, #government-bonds, #gramercy-funds-management-llc, #international-monetary-fund, #macri-mauricio, #pensions-and-retirement-plans, #poverty, #stiglitz-joseph-e

How Pimco’s Cayman-Based Hedge Fund Can Profit From the Fed’s Rescue

Congress said borrowers in taxpayer-backed rescue programs had to be from the United States. Wall Street has a workaround.

#blackrock-inc, #coronavirus-2019-ncov, #corporations, #credit-and-debt, #federal-reserve-system, #interest-rates, #pimco-pacific-investment-management-company, #stimulus-economic

Your Climate Disaster Tax Bill Is Growing

The federal government’s spending on calamities related to global warming is a rapidly rising fiscal threat.

#blackrock-inc, #disasters-and-emergencies, #federal-emergency-management-agency, #federal-national-mortgage-assn-fannie-mae, #flood-insurance, #floods, #greenhouse-gas-emissions, #hurricanes-and-tropical-storms, #moodys-investors-service-inc, #national-debt-us, #national-flood-insurance-program, #national-oceanic-and-atmospheric-administration, #taxation, #united-states, #united-states-economy, #weather, #wildfires

You Now Get Almost Nothing for Your Money, but It Could Be Worse

In this crisis, money is priceless, yet banks and money market funds will pay you close to zero in interest for years. That’s if everything turns out well.

#asset-allocation-personal-finances, #banking-and-financial-institutions, #blackrock-inc, #crane-peter-g, #credit-and-debt, #federal-deposit-insurance-corp, #federal-reserve-system, #fidelity-investments, #finances, #interest-rates, #money-market-accounts, #mutual-funds, #nonprofit-organizations, #pensions-and-retirement-plans, #prices-fares-fees-and-rates, #regulation-and-deregulation-of-industry, #stocks-and-bonds, #subprime-mortgage-crisis, #t-rowe-price-group-inc, #vanguard-group-inc

Former Exxon Chief Lee Raymond Shouldn’t Be on JP Morgan Chase’s Board

Shareholders at JP Morgan Chase should block a former Exxon chief from another term on the bank’s board.

#banking-and-financial-institutions, #blackrock-inc, #dimon-james, #dinapoli-thomas-p, #exxon-mobil-corp, #global-warming, #jpmorgan-chasecompany, #new-york-city, #office-of-the-comptroller-nys, #oil-petroleum-and-gasoline, #raymond-lee-r-1938, #stringer-scott-m