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

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‘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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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