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...The shift comes after a two-year stretch during which US Republican politicians have relentlessly pounded big banks and investment managers for being “too woke” or “hostile” to fossil fuel....
...It has lost investment mandates from Republican-led US states for allegedly being “hostile” to fossil fuel and been lambasted by Democratic activists for not doing more to divest from it....
...Baillie Gifford as a whole shed more than £100bn in assets in 2022, its most recent figures show. Bond fund managers have also come under pressure, but see some reasons for optimism....
...“It will finance the transition of economies by mobilising client savings effectively....
...Part of the pain has been sector-wide, with midsized managers finding themselves squeezed between juggernauts, such as BlackRock and Vanguard, and specialist managers, such as Baillie Gifford....
...This year’s Baillie Gifford Prize for Non-Fiction took us judges into the worlds of music and memory, geopolitics, history, mutiny on the high seas and beyond....
...Walmart said easing price pressures in the US and a strong labour market were supporting American shoppers, but warned that rising fuel prices and high borrowing costs would mean household budgets remain...
...Funding went towards price caps, energy saving and finding alternative fuels to the gas lost by Russia cutting supplies, Acer’s report said....
...Within months NRG had announced $1.1bn in cost savings and almost $3bn in divestitures — including fossil fuel generation business GenOn, which it had acquired in 2012, and its stake in NRG Yield, which...
...“But then fuel could mess it up. Or an Icelandic volcano — or war and pestilence somewhere.”...
...A version of this article was first published by Nikkei Asia on November 28. ©2023 Nikkei Inc. All rights reserved....
...Qantas has promised that 10 per cent of its overall fuel mix will comprise sustainable aviation fuel by 2030....
...It uses a single fleet of aircraft to keep maintenance costs low, and keeps a regular flow of new and more efficient planes to lower fuel consumption....
...Many missed out on the oil price surge in 2022, raising questions not only about their short-term performance but also their long-term strategy in a world that might need fossil fuels for longer than people...
...This article has been updated to correct the spelling of Baillie Gifford...
...But she has already reported that UK fund manager Baillie Gifford saw its assets under management drop by a third, or more than £100bn, during 2022, as rising interest rates hit the growth stocks that had...
...But he nonetheless compared recent events to the 1980s savings and loan crisis, when more than 1,000 lenders collapsed....
...Texas has declared BlackRock to be hostile to fossil fuel and earmarked it for divestment....
...Debt is the primary fuel that powers the private equity engine, and between the early 1980s and the 2020s, the cost of that fuel haltingly fell to zero....
...But it can also fuel a sense of chaos with deals being done off the cuff....
...Republican leaders in the state — the largest US oil and natural gas producer — have accused some banks and asset managers of hostility to fossil fuels....
...Woke Inc is under attack. Battle lines have been drawn in America’s latest culture war, with Ron DeSantis, Florida’s governor, its general....
...The energy crisis may now add even more fuel. leo.lewis@ft.com...
...Like-for-like sales in its home market grew 8.2 per cent excluding fuel over the quarter....
...Two of the biggest US retailers have eased concerns of a recession, reporting resilient consumer spending even though sharp food and fuel inflation are weighing heavily on their customers....
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