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...Two of the world’s biggest asset managers are quitting an investor group set up to prod companies over global warming and a third is scaling back its participation, in a major setback to the ambitions of...
...of climate risk”....
...Vivek Ramaswamy, one of the candidates, called Fink “the king of the woke industrial complex [and] the ESG movement”....
...Alabama-based Hibbett has 1,169 stores located in 36 states across the US. In the year to February, it generated net sales of $1.7bn and pre-tax profit of $131.6mn....
...Bluebell does not publicly disclose its holdings, but co-founder Giuseppe Bivona said BlackRock is one of the largest of its 10 to 15 concentrated positions....
...“We focus a tremendous amount of energy on helping people live longer lives. But not even a fraction of that effort is spent helping people afford those extra years,” he wrote....
...Those figures, as well as adjusted net income of $1.47bn, all beat the expectations of analysts polled by Bloomberg....
...A federal court in Alabama has ordered that a special master redraw the state’s congressional electoral map after the US Supreme Court held that an earlier version of the plan diluted votes of black citizens...
...However, it has come under criticism from progressives for pulling out of one of the highest-profile climate alliances, and faced allegations of greenwashing from Australian regulators....
...Its target is just one of a number of successful independent managers eyed by large money management complexes....
...In the face of the onslaught, large US asset managers have emphasised their legal duty to maximise shareholder returns and independently evaluate the impact of climate change on the financial prospects of...
...This time, the painting has been cleared for export, confirms Pierre Etienne, international director of Old Masters at Christie’s....
...That is partly because the industry is in the middle of a burst of innovation, with money managers bringing out new combinations of equities and debt, ETF versions of well-known mutual funds as well as entirely...
...The total assets of all the banks on the problem bank list at the end of last year was $66bn, or about 0.2 per cent of the overall banking sector....
...“He is not a ‘master of the universe’ persona, but at the same time, don’t try to fool Bayo. He will shred you to pieces,” Chenault said....
...In passing down the verdict, judge Kathaleen McCormick noted that the directors behaved “like supine servants of an overweening master”....
...“We are going to have a ‘world is not flat’ moment, when asset managers are going to realise we are not prepared to help people draw down,” said Bill Meyer, CEO of Retiree Inc, a retirement planning software...
...BlackRock manages two of the five-largest US ESG funds, according to Morningstar, and has more than $48bn of ESG assets under management....
...“Now the propensity of someone to lend to them has increased”....
...The court is deliberating on another case, Relentless Inc vs Department of Commerce, that seeks to overturn a 40-year-old legal doctrine that says courts should generally defer to agencies’ interpretation...
...terms of a broader range of products and solutions”....
...The deal could accelerate a wider wave of consolidation....
...“By the end of 2024, we expect to have a larger workforce as we continue adding people and building capabilities to support key areas of growth,” they wrote....
...brooke.masters@ft.com Follow Brooke Masters with myFT and on social media...
...Apple is looking to generate more value from the millions of users of its devices by expanding its service offerings. Its credit card is built into its tap-to-pay wallet service, Apple Pay....
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