Tomorrow is election day for Elon Musk. Tesla shareholders will vote on whether to re-approve his 2018 pay package (valued at $46 billion) after it was rejected by a Delaware court in a shareholder lawsuit. The outcome is hard to call, but it could have an impact on not just Tesla but corporate governance practices […]
It seems like every few years there’s an initiative by New York or London to “reclaim” its standing as a top financial center. So we greeted today’s news of such a campaign by the UK government as, well, something quite familiar. There’s more than national pride at stake in these efforts. Financial services accounts […]
In one of its most anticipated rules, the SEC last month adopted a requirement for companies to disclose climate-related risks, completing a process that began two years ago with the release of the agency’s proposed climate disclosure rule. While the final rule is more narrow than initially proposed, it requires publicly traded companies to disclose […]
Blackrock CEO Larry Fink last week released his annual shareholder letter, which has become an annual media event closely scrutinized as much for its political implications as its investment insights. In this year’s missive, he briefly discussed the energy transition – the process of reducing the world’s reliance on fossil fuels in favor of low-carbon […]
Warren Buffett’s annual letter to shareholders of Berkshire Hathaway is required reading for investors of all kinds, both for its investment insights and Buffett’s folksy wisdom on many subjects. In his wide-ranging letters, there’s one topic that’s seldom mentioned – climate change. That is until this year, when Buffett warned that wildfire-related losses at […]
The annual climate conference (COP28) concluded this week, and it succeeded in doing what few thought possible: saying the world needs to end the use of fossil fuels. That achievement is all the more remarkable when you consider the persistent cloud of doom that shrouded the event. Whether it was worries the hosts were mainly […]
As we look back on 2023, one of the most significant events of the past year was the demise of ESG investing. Or, to be more precise, the end of the term itself. That’s a good thing, because it will open the way to greater clarity and accountability about investment risks. The term ESG has […]
When it comes to climate regulations, if you’re only watching the SEC you could be caught by surprise. Because while the SEC recently delayed its final rules on climate disclosure until later this year, the European Union (EU) is moving ahead with new rules on climate, sustainability, corporate responsibility and business transparency. The new rules […]
Last week marked the 100th day of unjust and unlawful imprisonment for Evan Gershkovich, the Russia-based based correspondent for the Wall Street Journal. He sits in a Moscow jail for reporting truthfully about Vladimir Putin’s Russia. Journalism is a risky enterprise. Reporters whose aim is to tell the truth inevitably anger people, whether covering fashion […]
When Goldman Sachs launched Marcus in 2016 and jumped into consumer finance, it generated high hopes and a few questions. Could a storied brand that catered to the elite reach the lowly consumer? Would losses doom the project? Would the bankers strangle the hungry fledgling? Six years later, as it announces Marcus is being scaled […]