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The Latest Breaking News from Vanguard

Vanguard announces exit from net zero climate investment alliance

On December 2, the Federal Reserve’s board of governors released its proposed rule on climate risks for big banks, including its proposed environmental stress tests. The board asked for public comments:

Ballotpedia

Wall Street reneges on climate promises

Vanguard, the world’s second-largest asset manager, announced it is resigning from a global net-zero initiative

Salon

BlackRock facing more blowback over ESG as GOP pressure mounts

It’s been a tough couple weeks for BlackRock Inc., the world’s largest money manager, which endured fresh blows from Republican officials sharply critical of ESG.

Tribune News Service

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Kentucky AG Cameron claims ‘victory’ over Vanguard’s decision to leave climate initiative

WEKU

Michael Hiltzik: The GOP's war on green investing is bad for the climate — and investors

That was quite the bill of particulars that Mark Brnovich and Doug Peterson laid against BlackRock, the world's largest money management firm, back in August.

Los Angeles Times

Vanguard quits clean energy group after 13 states complain

One week after 13 Republican state attorneys general asked federal energy officials to consider blocking Vanguard Group from buying utility stocks because of its relationships with anti-coal and anti-natural gas activists, the Malvern, Pennsylvania-based investment giant has pulled out of an international group committed to reducing net greenhouse gas emissions…

The Philadelphia Inquirer

Joseph N. DiStefano: 13 pro-fossil fuel states seek to block Vanguard utility buys, cite ties to green ‘activism’

Vanguard Group, the investment giant whose offices in Malvern, Pennsylvania, have been targeted by environmentalists demanding it pressure companies to stop burning carbon fuels, now faces backlash from states who say its efforts to address climate change threaten investment profits for pension funds and other clients.

The Philadelphia Inquirer

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Florida divests from BlackRock

Last week, the state of Florida, at the direction of Governor Ron DeSantis (R) and State Chief Financial Officer (CFO) Jimmy Patronis, became the latest state to divest funds from BlackRock over its sustainability and ESG policies:

Ballotpedia

Donor-advised funds offer a charitable way to harvest a tax break and are growing in popularity

After charities experienced a gangbuster year in 2021 with record donations, philanthropic experts say that charitable giving is likely to plateau or decline this year after the stock market's prolonged downturn.

The Philadelphia Inquirer

Investment giant fined for greenwashing

Vanguard Australia has been fined for describing investments in cigarette and tobacco sales in potentially misleading ways.

AAP

Superannuation is no gamble – and there is no place for crypto

So would you like to gamble with your superannuation savings? Go down to the casino and put it all on red?

The New Daily

401(k) hardship withdrawals reach all-time highs. Here are 3 alternatives to borrowing

A rising inflation rate has led to an increase in the amount of retirement savers who are borrowing from their 401(k)s early.

Fortune

6 reasons to consider delaying your retirement

If you’ve been dreaming of retirement since you entered the workforce, you might have a certain idea of what it looks like when you’re no longer working. But there’s a chance you might not start retirement when you thought you would, perhaps due to circumstances beyond your control.

Tribune News Service

IBD Names 13 Best HSA Accounts For 2023

IBD's 2023 list of the best HSA accounts includes stalwarts like Fidelity, plus credit unions and other smaller players. Here's what they offer.

Investors Business Daily

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Fortune

2 ways to prioritize health & financial needs when considering a career change, from the head of global total rewards for one of the world's leading asset managers

As head of Vanguard Global Total Rewards since 2019, I’ve seen the value that a range of employee benefits can have in managing mental health issues, becoming a parent, or embarking on retirement.

Investors Business Daily

Here's Who Owns Tesla Now That Elon Musk Is Selling Out

Entrepreneurs sell out stock eventually, and Tesla CEO Elon Musk is no different. But he's still firmly in control of the company he co-founded.

Fortune

How to successfully invest in a down market

Don’t let emotions guide you and stick to investing based on your own needs.

Investors Business Daily

10 Meta Investors Lose $211 Billion On Mark Zuckerberg's Madness

Who could slow down Mark Zuckerberg's costly plan to pivot Meta Platforms into the metaverse? It's going to have to be one of the investors holding the biggest losses.

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Ballotpedia

Economy and Society, October 25, 2022: Missouri latest state to divest BlackRock funds over ESG

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.

Los Angeles Times

Think retirement is out of reach? Here's what you need to know

The pandemic caused tectonic shifts in the job market as workers young and old quit and searched for something better — in their work or in their life. According to the Pew Research Center, a little more than half of adults ages 55 and older had ditched the grind by…

The Philadelphia Inquirer

Quakers protest Vanguard climate policy at its headquarters in Pennsylvania, while others bemoan 'woke' Wall Street

Eight Quaker climate activists were arrested Wednesday after protesting at Vanguard's main headquarters in Malvern, Pennsylvania. The group sought a meeting with the investment company's stewardship executive, while drawing focus to the firm's record on environmental issues.

Investors Business Daily

Think Your Losses Hurt? 5 Hardest-Hit Investors Lose $160 Billion

Here's something to cheer you up if you're among investors losing lots of money on the S&P 500 this year. You didn't drop anywhere near that of five unlucky investors.

The Guardian - US

Indigenous leaders urge businesses and banks to stop supporting deforestation

Amazon ecosystem is on verge of collapse, leaders tell brands such as Apple and Tesla as UN gathers in New York

Investors Business Daily

How To Exploit Stock Market Rise In Midterm Election Years

If you had a crystal ball that told you what the stock market is going to do, how would you use it? To pick investments, right?

Ballotpedia

Economy and Society, September 13, 2022: Former Attorney General highlights recent state action against ESG

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