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The Latest Breaking News from State Street

What’s the best part of working at a global bank? Insiders often say it’s the work trips – sipping champagne on business class flights as you traverse the far corners of the world to seal billion-dollar deals.

Evening Standard

Oklahoma pension system pushes back against treasurer’s ESG opposition

The Oklahoma Public Employees’ Retirement System (OPERS) recently voted to continue contracting with BlackRock and State Street—the managers of most of the state’s pension assets. Oklahoma Treasurer Todd Russ (R) published a letter arguing against the decision and saying it could violate state laws opposing ESG. OPERS last week responded…

Ballotpedia

Supreme Court takes up cases challenging Chevron

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the environmental, social, and corporate governance (ESG) trends and events that characterize the growing intersection between business and politics.

Ballotpedia

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Vanguard, BlackRock, State Street rejected environmental and social proposals this year

The "Big Three" investors are taking the ES out of ESG.

Fortune

MS Stock Dives After Morgan Stanley Reports 27% Drop In Investment Banking Revenue

MS stock tumbled Wednesday as Morgan Stanley's earnings beat wasn't enough to satisfy investors. State Street climbs even as profit falls.

Investors Business Daily

How To Buy The S&P 500 For Next To Nothing (Or For Free)

Investors are big winners from price wars raging between ETF providers. That's especially true if you want to buy the S&P 500.

Investors Business Daily

BlackRock To Give Clients Voting Power Amid Criticism Over Political Investments

World's largest asset manager responds to ESG critics by allowing investors to vote proxies

Zenger

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BlackRock announces plans to allow investors to vote their own proxies

The Big Three passive asset management firms—BlackRock, State Street, and Vanguard—have been criticized for using investors’ money in pursuit of political goals. The firms use the funds that they invest on behalf of their clients and vote the proxies that, outside of a pooled index or mutual fund, investors would…

Ballotpedia

House Republicans Question Big Three Asset Managers’ Climate Change Efforts

Lawmakers express concerns over potential antitrust violations in firms' ESG initiatives

Zenger

Congressmen send letters requesting ESG information from Big Three asset managers

House Judiciary Committee Chairman Jim Jordan (R-Ohio), along with Reps. Thomas Massie (R-Ky.) and Dan Bishop (R-N.C.), sent letters to the Big Three passive asset management firms—BlackRock, State Street, and Vanguard—on July 6 requesting information about their efforts to combat climate change through ESG. Jordan said such efforts could violate…

Ballotpedia

Financial Services Committee to hold four ESG hearings this week

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the Environmental, Social, and Corporate Governance (ESG) trends and events that characterize the growing intersection between business and politics.

Ballotpedia

Proposed legislation would eliminate ESG in TSP pensions

Congressman Chip Roy (R-Texas) on May 23 reintroduced legislation calling for the elimination of the use of ESG in the Thrift Savings Plan (TSP), the pension plan for federal employees and members of the military. The private managers of the TSP are BlackRock and State Street, two of the largest…

Ballotpedia

Clutch of U.S. firms to expand operations in Hyderabad

Entities from the U.S. met Telangana Industries and IT Minister K.T. Rama Rao and his officials

The Hindu

First Thing: 20,000 Russian troops killed in eastern offensive failures, says US

Russian casualties mark acceleration even when compared with first days of the war, says White House national security council spokesperson. Plus, all the coverage from the Met Gala

The Guardian - UK

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The Guardian - UK

Green investment funds pushing money into fossil fuel firms, research finds

BlackRock and L&G among asset managers using funds with ESG label to invest in coal, oil and gas

Investors Business Daily

S&P 500: Top 5 Performers Today Include Enphase Energy, First Solar

The five best S&P 500 performers Monday included Enphase Energy and First Solar. Moderna was a key laggard. Banks were big winners and losers.

The Street

State Street Stock Slumps; Here Are the Chart Levels Investors Should Know

State Street's stock took a hit after the investment bank's first-quarter report.

Investors Business Daily

Stock Market Slides After Mixed Bank Earnings, Meta Downgrade, Google's AI Trauma

Google parent Alphabet sold off more than 3% after Samsung considered ditching the search engine.

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news in one place.

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Investors Business Daily

Charles Schwab Stock Rises After Earnings Beat, Pauses Buybacks; M&T Rallies, State Street Dives

Charles Schwab stock rose Monday after it beat Q1 earnings estimates. M&T Bank, State Street report results following March bank panic.

Investors Business Daily

Dow Jones Rises Amid Economic Data; State Street Crashes 18% On Earnings Miss

The Dow Jones rose Monday, with Q1 earnings season set to heat up this week. State Street crashed 18% on an earnings miss.

InsideEVs

Does Elon Musk Now Have Fewer Tesla Shares Than Index Funds?

Elon Musk spent much of 2022 selling off Tesla stock, though he remains the company’s largest individual stakeholder. However, many firms have plenty of shares.

Investors Business Daily

Report: 10 Banks Are Most Exposed To Uninsured Deposits

High levels of uninsured deposits helped do in Silicon Valley Bank and Signature Bank. But it turns out they're not alone.

Ballotpedia

Democrats push back against the ESG pushback

In response to House Republicans’ plans to use their new majority to investigate the ESG movement, three Democratic senators penned an op-ed accusing their GOP colleagues of overstepping. The three senators—Sheldon Whitehouse (D-R.I.), Brian Schatz (D-Hawaii), and Martin Heinrich (D-N.M.)—also accused Republicans who oppose ESG of being anti-capitalist:

Fortune

State Street's diversity chief says customers are key stakeholders in its racial equity push

Paul Francisco oversees diversity efforts at State Street, a global financial firm with $3.3 trillion under management.

Zenger

Kentucky Threatens To Divest From 11 Banks Over Environmental And Social Policies

Kentucky State Treasurer Allison Ball (R) notified 11 banks that their ESG policies had harmed the state’s economy.

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