Hints and tips:
...One good read Vanessa Friedman on the meaning of Kristen Stuart’s clothes....
...(Kristen Talman and Gillian Tett) Sustainability schism raises questions for the ISSB People rarely log on to LinkedIn for a fight, but that’s what broke out on Friday when Bob Eccles, a visiting professor...
...And please read Kristen’s piece for context on the corporate world’s Russia retreat by looking back at decisions to withdraw from Myanmar....
...Smart read Ferry operator P&O has sparked outrage in the UK by sacking almost 800 staff, who will be replaced by agency workers paid below the minimum wage (a manoeuvre that is legal because the ships operate...
...Energy has, by far, been the best performing sector in the S&P 500 this year, and momentum trades will fuel stocks even higher....
...The big three rating agencies — Moody’s, S&P, and Fitch — have downgraded Sri Lanka since late last year, and analysts have warned that the war has increased the island country’s chance of default....
...S&P and the other credit rating firms need to keep up the ESG revenues to satisfy shareholders. But conflicts of interest have tripped up rating agencies before....
...That is, if insurers are allowed to raise prices, noted John Iten, an analyst at S&P Global Ratings. California, he pointed out, has regulated limits on insurance pricing....
...But energy has been the top-performing S&P 500 sector this year, marking a 50 per cent rise in 2021. ESG investing has also drawn unprecedented scrutiny in 2021....
...Chart of the Day In most sectors, the majority of organisations’ emissions come from their supply chain, those commonly known as Scope 3 emissions, HSBC found in a breakdown of companies in the S&P Global...
...Provincetown, known as “P-town” to those who live there, is on the tip of Cape Cod in the north-east of the US....
...The number of S&P 500 companies disclosing board oversight policies grew by 14 per cent in the past year to 295, according to an annual index compiled by the Center for Political Accountability and the Wharton...
...S&P Global Platts cheered measures to prevent the double-counting of these credits, saying that this would lend “much-needed credibility” to the controversial carbon offset market....
...(Kristen Talman) Chart of the day Electric car sales are zooming ahead in China. Neither its slowing economy nor chip shortages have left a dent....
...While sustainable bonds — which include green and social bonds — are set to exceed $1tn later this year, according to a recent study from S&P Global, green bonds alone are projected to hit $1tn in 2023,...
...Charts of the day Sustainable bond issuance is set to exceed $1tn in 2021, more than five times 2018 levels, according to a report this week from S&P Global Ratings....
...That’s not quite what investors heard on a P&G earnings call in July 2020....
...The payment change paved the way for S&P and Moody’s to give mortgage-backed securities and other products optimistic scores until the house of cards collapsed....
...Speaking to S&P Global Platts last month, Rusal America chief Brian Hesse said the home improvement company Lowe’s had started asking for the carbon content in ladders....
...Notably, Lance Uggla, the head of IHS Markit, is expected to lead the new fund once his firm’s acquisition by S&P closes this year (General Atlantic declined to comment on the fundraising)....
...(Kristen Talman) Chart of the day Bitcoin has a big climate problem....
...“These targets do not indicate an increase in ambition to lower emissions,” S&P said in a note on Tuesday....
...Stocks that have faced opioid litigation and fines underperformed the S&P Health Care Index by 16 per cent from 2016 to 2018, Bank of America said....
...The S&P 500 stock index added 0.6 per cent, taking its gains for the week to more than 2 per cent. The benchmark index closed at 4,725.79....
...The 0.7 per cent increase in the S&P 500 share index took it above the record closing it achieved just two days ago, extending the year-long rally....
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