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The Latest Breaking News from BlackRock

Adani group officials met Pimco, BlackRock for potential private bond placement

MUMBAI: Adani group executives met US investors, including from BlackRock Inc, Blackstone Inc and Pacific Investment Management Co, as part of its plans to market privately placed bonds for some of its group companies, according to people familiar with the matter.

The Times of India

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.

InsideEVs

BlackRock CEO Larry Fink walks tightrope on climate investing

In his annual letter, Fink places climate change as a somewhat lower priority than in year's past.

Axios

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BlackRock's Larry Fink sees the possibility of a broader banking crisis on the horizon: 'Are the dominoes starting to fall?'

Larry Fink, chief of the largest asset managers in the world, compared the SVB fallout to a "slow rolling crisis" similar to the Savings and Loan crisis.

Fortune

SVB collapse may be start of ‘slow-rolling crisis’, warns BlackRock boss

Larry Fink tells investors more ‘shutdowns and seizures’ in US possible and predicts inflation and interest rates to rise

The Guardian - UK

World’s largest asset manager warns Fed may not stop hiking until rates hit 6%

Should BlackRock’s prediction prove true, borrowing costs would hit their highest level since 2001.

Fortune

Conservative group takes anti-ESG campaign to the next level

It calls ESG an "existential threat to our liberty."

Axios

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Congress rejects ESG in retirement plans

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

Texas’ next ESG target will be insurers: ‘We’re gonna teach them some manners’

Texas’ fight against environmental, social and corporate governance policies may soon expand to another front: insurance companies.

Tribune News Service

Michael Pascoe: Paying dearly for dud management

A funds management company with less gall would be embarrassed to charge fees for what BlackRock has done to its clients.

The New Daily

House to vote this week on Department of Labor’s ERISA/ESG rule

Fox News reported on February 24 that the U.S. House will vote this week on a measure opposing the Labor Department’s rule allowing ESG consideration in ERISA-governed retirement funds:

Ballotpedia

The American right has gone to war with 'woke capitalism' – here's what they get wrong

Ron DeSantis, Florida’s Republican governor and likely future presidential contender, has opened up a new front in his party’s war on “woke capitalism”. He is proposing to change the rules around how public bodies within Florida borrow from the markets by issuing bonds.

The Conversation

This week in the metaverse: BlackRock's new ETF, Titanic artifacts as NFTs, and a Snow Crash Sotheby’s auction

The new BlackRock ETF invests in a bundle of public companies, including Meta, Nvidia, and Apple.

Fortune

Colorado Lawmakers Eye Climate-Friendly Pension Reform

If OK'd, measure would be the first nationwide to require climate impact analysis in investment decisions.

Capital & Main

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The Texas Tribune

Texas’ teacher pension fund divested from investment firms accused of “boycotting” oil and gas industry

The Teacher Retirement System of Texas was following a new state law targeting investment firms that seek to invest in companies that don’t worsen climate change.

Axios

The right's anti-ESG crusader

Vivek Ramaswamy is vying to be the anti-BlackRock — and wants state pensions to work with him instead.

Fortune

How Wall Street’s fossil-fuel money pipeline undermines the fight to save the planet

Big banks and investment firms have joined the ranks of companies making "net-zero" pledges. But their huge stakes in oil and gas projects are undermining their climate promises.

Ballotpedia

Montana governor announces ban on ESG considerations in state investments

The office of Montana Gov. Greg Gianforte (R) released the following statement on January 18 announcing that Montana has joined several other states in prohibiting non-financial considerations, including considerations related to ESG, in the state’s investments:

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Reuters

Davos 2023: Ukraine courts cash for post-war rebuild now, not later

As Ukraine attempts to secure more modern arms from its allies, it has stepped up a parallel effort to lock in financial support from business leaders in Davos to help rebuild the country.

The Independent UK

Keir Starmer to invoke Blair as he tells Davos the UK is ‘open for business’

Labour leader to meet bosses of Goldman Sachs, Morgan Stanley, JP Morgan and BlackRock

Fortune

Larry Fink, the face of ESG, says ‘the attacks are now personal’ for the first time in his career. ‘They are trying to demonize issues.’

“It’s hard—because it’s not business anymore, they’re doing it in a personal way,” Fink said at the World Economic Forum in Davos.

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

Bank of America tops stakeholder capitalism rankings

Under Brian Moynihan, the bank has increased the minimum wage, expanded parental leave, and avoided layoffs.

Birmingham Post

The 50 best UK companies to work for in 2023

Employment website Glassdoor has put together its list of the top businesses in the country to work for this year

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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