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When 2023 began, a single bitcoin could be had for less than $17,000 after losing more than 75% of its value. Now, bitcoin is getting another boost on the prospects of creating a much larger pool of investors. IShares Bitcoin Trust appeared to be temporarily removed Tuesday, but was back online as of Wednesday. Still, the most recent surge bitcoin goes beyond single developments or participants, Kaiko research analyst Riyad Carey notes — crediting “more of a broad market rally" around spot bitcoin ETF prospects. Despite the recent excitement around bitcoin, crypto is still a risky bet.

Persons: Bitcoin, hasn't, Edward Moya, IShares Bitcoin, iShares, Moya, Riyad Carey, “, —, “ We’re, it’s, ”, it's, ” Moya, bitcoin Organizations: Federal Reserve, Industry, Columbia, Securities and Exchange Commission, Grayscale's, SEC, Depository Trust, Clearing Corporation, Associated Press Locations: Silicon, bitcoin, cryptocurrencies

☆ Davos in the Desert: Jamie Dimon and other bankers visit Saudi Arabia as Israel-Hamas war rages
▼ + stars: | 2023-10-24 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

Dubbed “Davos in the Desert,” the annual Future Investment Initiative (FII) will welcome about 6,000 participants from more than 90 countries over the next three days. Since the Hamas assault on October 7, Israel has widened its offensive against the Palestinian militant group and other regional enemies. Saudi Arabia’s crown prince Mohammad bin Salman, denied any personal involvement in Khashoggi’s murder but later confirmed it was carried out by Saudi officials. Bin Salman chairs the Public Investment Fund. “Very few people” had canceled plans to attend the conference, according to Richard Attias, the CEO of the FII Institute, the event’s organizer.

Persons: Jamie Dimon, Citigroup’s Jane Fraser, Defense Lloyd Austin, Larry Fink, Goldman Sachs, David Solomon, Noel Quinn, Ray Dalio, Stephen Schwarzman, Harvey Schwartz, Blackstone, Carlyle, “ We’re, it’s, ”, Fraser, Fink, “, Karen E, WeWork, Slack, Jamal Khashoggi, Saudi Arabia’s, Mohammad bin Salman, Bin Salman, bin Salman, Masayoshi, Richard Attias, Young, — Winston Lo, Michelle Toh Organizations: London CNN, “, Future Investment Initiative, Defense, Palestinian, Israel Defense Forces, West Bank, HSBC, Citigroup, Saudi, Public Investment Fund, Columbia University’s Center, Global Energy, CNN, Reliance Retail, Softbank’s Vision, Future Investment, FII Institute, Young of Columbia University Locations: Saudi Arabia, Israel, “ Davos, Gaza, Lebanon, Riyadh, Ukraine, Europe, United States, Washington, Russia, Saudi, Istanbul, Kingdom, Hong Kong

☆ Bitcoin is surging again
▼ + stars: | 2023-10-24 | by ( David Goldman | ) edition.cnn.com time to read: +2 min

BlackRock applied in June to register a bitcoin spot ETF, which is pending approval. A BlackRock bitcoin ETF would give the cryptocurrency a new sense of legitimacy. “However, it may appear as part of BlackRock’s preparations to launch the ETF soon.”Other companies have also applied for approval to launch similar bitcoin ETFs, including Greyscale Investments. As investors look to diversify their portfolios in uncertain times, some turn to bitcoin, ironically as a kind of digital safe haven. Sometimes dubbed “digital gold,” bitcoin has become a way for investors to branch out beyond traditional stocks and bonds.

Persons: New York CNN —, bitcoin, ”, Samer Organizations: New, New York CNN, BlackRock, Depository Trust, Clearing Corp, Nasdaq, Reuters, Greyscale Investments, US Securities and Exchange Commission, Greyscale’s, DC, of Appeals, SEC, “ Locations: New York, BlackRock, bitcoin

☆ The Rock’s Wax Figure Will Get Redo, Museum Says
▼ + stars: | 2023-10-23 | by ( Reggie Ugwu | More About Reggie Ugwu | ) www.nytimes.com time to read: +1 min

A wax museum in Paris said it would change its recently unveiled statue of Dwayne Johnson, better known as the Rock, after a week of ridicule on social media and a plea from the actor himself. The statue, unveiled last Monday by the Grévin Museum — the French equivalent of Madame Tussauds — depicted the “Fast and the Furious” star and former W.W.E. Critics online quickly mocked several aspects of the likeness, especially the skin tone, which many described as noticeably lighter than Johnson’s. “Who is this because uhhhh … You do know he’s Samoan and Black right lol?” wrote one commenter. An Instagram post about the “melanin deficient” statue on the popular celebrity news account The Shade Room received over 40,000 comments.

Persons: Dwayne Johnson, Madame Tussauds —, ”, Johnson, James Andre Jefferson Jr, ” Johnson Organizations: Grévin Locations: Paris

☆ Rentokil may be next to nibble at US listing
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike Blake Acquire Licensing RightsLONDON, Oct 19 (Reuters Breakingviews) - Rentokil (RTO.L) is an obvious contender to ditch its London listing in favour of the U.S. CEO Andy Ransom said that it is getting harder to win new business due to “the macroeconomic backdrop”. Rollins is valued on nearly 38 times its forward earnings, versus Rentokil which was trading on just 23 times before Thursday’s fall, according to LSEG data. With Rentokil shareholders a little ratty, Ransom may come under more pressure to consider ways of pepping up the stock, like ditching London in favour of the more highly valued U.S. market. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Blake, Andy Ransom, Ransom, Rollins, Aimee Donnellan, Jean, Pierre Mustier, Atos, Larry Fink, Uncle Sam, Neil Unmack, Oliver Taslic Organizations: REUTERS, Reuters, U.S, X, News Corp, Thomson Locations: Los Angeles , California, U.S

☆ Saudi is wild card in Middle East’s new turmoil
▼ + stars: | 2023-10-18 | by ( George Hay | ) www.reuters.com time to read: +8 min

Saudi Crown Prince Mohammed bin Salman attends the 18th consultative meeting of the leaders of the GCC & the Gulf summit with the central Asian countries C5, in Jeddah, Saudi Arabia, July 19, 2023. Saudi Press Agency/Handout via REUTERS Acquire Licensing RightsLONDON, Oct 18 (Reuters Breakingviews) - Mohammed bin Salman is the wild card in the Middle East’s new conflict. Saudi Arabia also needs prices above $85 a barrel in order to balance its budget. Saudi Arabia also needs to consider the views of international investors, though. For now, Saudi Arabia can count on the support of global bankers and fund managers.

Persons: Prince Mohammed bin Salman, Mohammed bin Salman, Joe Biden, Benjamin Netanyahu, Israel’s, Biden, Netanyahu, International Energy Agency reckons, Jamal Khashoggi, nix, Larry Fink, JPMorgan’s, Jamie Dimon, Israel, Antony Blinken, Jordan, ” Blinken, ”, “, Hossein Amirabdollahian, Al Jazeera, Peter Thal Larsen, Oliver Taslic Organizations: GCC, Saudi Press Agency, Handout, REUTERS Acquire, Reuters, Hamas, Israel . U.S, MbS, United, Gaza, International Energy Agency, Reuters Graphics Reuters, Saudi, kingdom’s Public Investment Fund, U.S, PGA, Foreign Investment, Telefonica, STC, BlackRock’s, Future Investment, United States, Diplomats, don’t, Palestinian, Israeli, United Arab, Iran’s, Thomson Locations: Saudi, Jeddah, Saudi Arabia, Israel, Iran, Palestinian, Israel ., United States, Gaza, OPEC, Russia, Saudi Aramco, Riyadh, Palestine, United, Amman, Jordan, Bahrain, Qatar, United Arab Emirates, Egypt, Lebanon, America

☆ P&G price hikes have no-tears effect on US wallets
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

Pampers, a brand owned by Procter & Gamble, is seen for sale in a store in Manhattan, New York City, U.S., June 29, 2022. REUTERS/Andrew Kelly Acquire Licensing RightsWashington/NEW YORK, Oct 18 (Reuters Breakingviews) - If Americans are fed up with inflation, their checking accounts aren’t showing it. Procter & Gamble (PG.N) topped earnings expectations on Wednesday after raising prices 7% year-over-year in the third quarter. Imagine all producers of such goods raised prices by 7% in the past year, as P&G did. P&G credits innovation, and if it can squeeze where others can’t, it may even be able to raise prices more.

Persons: Andrew Kelly, Forrester, Ben Winck, John Foley, Jean, Pierre Mustier, Atos, Larry Fink, Uncle Sam, Lauren Silva Laughlin, Sharon Lam, Aditya Sriwatsav Organizations: Procter & Gamble, REUTERS, Washington, Reuters, of America, PepsiCo, X, News Corp, Thomson Locations: Manhattan , New York City, U.S

☆ Starboard dusts off old plan at News Corp
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +2 min

A view of the signage outside the News Corporation building in New York, U.S., September 21, 2023. REUTERS/Bing Guan Acquire Licensing RightsNEW YORK, Oct 16 (Reuters Breakingviews) - Maybe it takes a pile on to move the Murdoch family’s thinking. Reuters reported on Friday that Jeff Smith’s Starboard is the latest activist to try and unlock value at News Corp (NWSA.O), the publisher of the Wall Street Journal, owner of book conglomerate HarperCollins and Realtor.com. Starboard, which took a position in the $13 billion company, is pushing for a spinoff of the real estate assets, according to the Wall Street Journal. Last year Irenic Capital Management agitated for the same transaction in reaction to the Murdochs’ desire to reunite News Corp with broadcasting company Fox (FOXA.O).

Persons: Bing Guan, Murdoch, Jeff Smith’s, pushback, Jennifer Saba, Jean, Pierre Mustier, Atos, Larry Fink, Uncle Sam, Lauren Silva Laughlin, Sharon Lam, Aditya Sriwatsav Organizations: News Corporation, REUTERS, Reuters, News Corp, Wall Street Journal, HarperCollins, Wall Street, Capital Management, Fox, X, Thomson Locations: New York, U.S, Europe

☆ BlackRock’s Larry Fink squares off with Uncle Sam
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

Laurence Fink, founder and chief executive officer of BlackRock, Inc. speaks during the Reuters Global Investment Outlook Summit in New York, U.S., November 13, 2017. REUTERS/Lucas Jackson Acquire Licensing RightsNEW YORK, Oct 13 (Reuters Breakingviews) - BlackRock (BLK.N) calls every dollar it manages a “unit of trust” expressed by clients. The trouble for the investing behemoth led by Larry Fink is that there’s an increasingly reliable custodian of such assets these days: Uncle Sam. Even so, $644 billion has crowded into retail money-market funds this year, crimping BlackRock’s all-important stock portfolios. Fink has been bulking up in infrastructure, credit and other investments that are harder to trade, but which also generate higher fees.

Persons: Laurence Fink, Lucas Jackson, ”, Larry Fink, Uncle Sam, Fink, crimping, Jonathan Guilford, Jeffrey Goldfarb, Sharon Lam Organizations: Inc, Reuters Global Investment, REUTERS, Reuters, BlackRock, Graphics, Treasury, X, Infosys, Thomson Locations: BlackRock, New York, U.S, Europe

☆ Dollar General bets on old boss’s old magic
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Oct 13 (Reuters Breakingviews) - Dollar General (DG.N) is reaching back to happier days. In that time, shares plummeted 60%, compared to rival Dollar Tree’s (DLTR.O) gentler decline of roughly a fifth. Meanwhile, Dollar General has repeatedly missed analyst expectations as net profit margin fell from nearly 7% to estimates of 3% for this quarter, according to LSEG. Under his previous stint from 2015 until 2022, shares returned an annualized 19%, beating Dollar Tree, Walmart (WMT.N) and Big Lots (BIG.N). Dollar General faces plenty of challenges shared by all retailers, from rising wages to shifting consumer spending.

Persons: Todd Vasos, Jeff Owen, Vasos, Walt Disney, Bob Iger, Howard Schultz, outperforming, doesn’t, Jennifer Saba, Larry Fink, Uncle Sam, Jonathan Guilford, Sharon Lam Organizations: Reuters, Walmart, Walt, Starbucks, X, Infosys, Thomson Locations: Europe

☆ NASA reveals a pristine sample collected from a near-Earth asteroid
▼ + stars: | 2023-10-11 | by ( Ashley Strickland | ) edition.cnn.com time to read: +4 min

CNN —A pristine asteroid sample that could serve as a time capsule from the early days of our solar system has finally been revealed. “Far exceeding our goal of 60 grams, this is the biggest carbon-rich asteroid sample ever return to Earth. It’s the largest asteroid sample returned to Earth. The burst of gas lifted rocks and dust all the way from 19 inches (50 centimeters) beneath the space rock’s surface. About 70% of the sample will remain pristine in storage so future generations with better technology can learn even more than what’s now possible.

Persons: Bill Nelson, ” Nelson, Erika Blumenfeld, Joseph Aebersold, NASA’s OSIRIS, REx, Bennu, REx mission’s, Dante Lauretta, OSIRIS Organizations: CNN, NASA, agency’s, Space Center, Canadian Space Agency, Japanese Aerospace Exploration Agency Locations: Utah, Houston

☆ Opinion: This generation needs The Talking Heads as much as their parents did
▼ + stars: | 2023-09-22 | by ( Opinion Noah Berlatsky | ) edition.cnn.com time to read: +8 min

But A24’s newly restored 40th anniversary print of the band’s legendary concert film “Stop Making Sense” feels like a moment for a reappraisal. Talking Heads’ lyrics are undeniably more elliptical than N.W.A.’s or the Dead Kennedys’. “Stop Making Sense” starts off within the bounds of that New Wave approach. Byrne’s idiosyncratic dancing and physical appearance are central to “Stop Making Sense,” and he never stops being malfunctioning, android or ectomorph. “Stop Making Sense” included singers Lynn Mabry and Ednah Hold, legendary Parliament-Funkadelic keyboardist Bernie Worrell, percussionist Steve Scales and The Brothers Johnson guitarist Alex Weir.

Persons: Noah Berlatsky, CNN —, Reagan, “, ” Noah Berlatsky Noah Berlatsky, Trump, Donald Trump, he’s, Devo, Blondie, Joy, Jonathan Demme, Chris Frantz, Jerry Harrison, Tina Weymouth, Alex Weir, Bernie Worrell, David Byrne, Steve Scales, Lynn Mabry, Ednah Holt, Jordan Cronenweth, ” Byrne, Byrne, — George Clinton, James Brown, Fela Kuti —, Johnson, Harrison, Weir, Mabry, they’re, Sly, ”, Cab Calloway, Weir’s, Al, Reagan’s, — Organizations: CNN, Police, ”, tha, Reagan GOP, Reagan Library, Republican, GOP, New, Joy Division, Weymouth Locations: Chicago

☆ Opinion: Johannesburg’s hijacked souls
▼ + stars: | 2023-09-09 | by ( Eleni Giokos | ) edition.cnn.com time to read: +7 min

Born in Greece and raised in South Africa, she presents the network’s Connecting Africa and Marketplace Middle East feature shows. Either abandoned by their owners or surrendered to gangs, these “hijacked” buildings typically house migrants or poverty-stricken locals in downtown Johannesburg. The first time I visited one of these buildings I was based in South Africa as a correspondent, and what I found was shocking. “I can take you to buildings 10 times worse than this,” the mayor told me. Some of the gangs were not even from South Africa, we were told.

Persons: Eleni Giokos, Read, Herman Mashaba, “, Renney Plit, Plit, Afhco, Becky Anderson, ” Mashaba, ”, Anderson, Cyril Ramaphosa Organizations: CNN, Afhco Holdings, Twitter, Facebook South Locations: Dubai, Greece, South Africa, Johannesburg, Zimbabwe, ”

4, he’s missing, he’s up there. Jagger told The Los Angeles Times in October 2021 that “Hackney Diamonds” would have been finished long ago if not for the coronavirus pandemic. Last month, the Stones teased the album via an advertisement for a fake glass repair company, called Hackney Diamonds, that appeared in a London newspaper. The ad’s text referred to several of the band’s well-known songs: “Our friendly team promises you satisfaction. That was “typical Stones’s fakery,” Norman said, because the band had no previous association with Hackney.

Persons: Richards, “, he’s, ”, Watts, Steve Jordan, ” Jagger, —, Jagger, Fallon, ” Philip Norman, ” Norman Organizations: Los Angeles Times, Hackney Locations: Hackney, London, London’s trendiest

☆ Little Rock Will Offer A.P. African American Studies Despite State Objections
▼ + stars: | 2023-08-17 | by ( Dana Goldstein | More About Dana Goldstein | ) www.nytimes.com time to read: +4 min

The same legislation weakened teachers’ tenure protections, which has raised the stakes in the confrontation with the state over African American studies. African American Studies will allow students to explore the complexities, contributions and narratives that have shaped the African American experience throughout history, including Central High School’s integral connection,” the district said. African American studies is a rigorous, fact-based class protected under the law, and not an example of ideology or opinion. Huckabee Sanders pointed out that the state already offered an African American history course and that the A.P. African American studies and were planning a joint response.

Persons: “ A.P, ”, Reisma, Huckabee Sanders, Ivory Toldson, Toldson, Ron DeSantis, Black Organizations: Little Rock School District, Little Rock Central High School, American Studies, Central, Educators, Arkansas Education Association, The Arkansas Department of Education, Gov, U.S . National Guard, Rock Central High School, NAACP, Little, Nine, Howard University, College Board, Republican Locations: Arkansas, American, Florida

☆ Remembering the Rappers We Lost
▼ + stars: | 2023-08-08 | by ( Danyel | ) www.nytimes.com time to read: +4 min

That same year, the Recording Academy finally included a rap category in the Grammy Awards, and Will Smith, a.k.a. And then, in September 1996, Tupac Shakur died at 25 in Las Vegas, having been shot four times. Hill’s was the first hip-hop album to win album of the year (along with four other Grammys). In 1999, Big L of Harlem (Lamont Coleman) was shot nine times in the face and chest on West 139th Street near his Harlem home. On Oct. 30, 2002, Run-DMC’s D.J., Jason Mizell, known as Jam Master Jay, was killed in his Queens recording studio at age 37.

Persons: Will Smith, a.k.a, DJ Jazzy Jeff, “, ”, Tupac Shakur, Roland Bishop, Ernest Dickerson’s, Christopher Wallace, poolside partyer, DJ Quik, Gen, Biggie Smalls, Shakur, Will, Biggie, ’ Raymond Rodgers, Evans’s, Kirk Franklin, Cheryl James, Lauryn Hill ”, Jay, Z’s, Hill’s, Big, Harlem, Lamont Coleman, Jason Mizell, Mizell, Rap Organizations: Recording Academy, Billboard, Motown, Queens Locations: Florida, Las Vegas, God’s, Harlem

[1/3] Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. Nonfarm payrolls increased by 187,000 jobs last month, the Labor Department said in its closely watched employment report on Friday, slightly below expectations of 200,000 jobs. U.S. Treasury yields dropped after jobs data on Friday showed the U.S. economy added fewer jobs than expected in July, but investors hesitated to rule out further monetary tightening. Oil prices headed for a sixth straight weekly gain, driven by the prospect of reduced supply from Saudi Arabia and Russia. U.S. crude rose 1.4% to $82.69 per barrel and Brent was at $86.10, up 1.13% on the day.

Persons: Mike Segar, Rick Rieder, Randy Frederick, Charles Schwab, Frederick, Sterling, Fitch, Brent, Lawrence Delevingne, Amanda Cooper, Elizabeth Howcroft, Ankur Banerjee, Sruthi Shankar, Sharon Singleton, Nick Macfie, Diane Craft Organizations: Wall, New York Stock Exchange, REUTERS, Apple, Treasury, U.S ., Labor Department, Dow Jones, Nasdaq, FTSE, U.S . Federal, Bank of England, U.S . Treasury, Thomson Locations: Manhattan, New York City , New York, U.S, Austin , Texas, United States, Saudi Arabia, Russia, Boston, London

☆ BlackRock’s False Voting ‘Choice’
▼ + stars: | 2023-07-25 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/blackrocks-false-voting-choice-proxy-esg-ballots-iss-glass-lewis-66652357

Persons: Dow Jones

☆ Coinbase is a crypto conundrum, squared
▼ + stars: | 2023-07-20 | by ( Anita Ramaswamy | ) www.reuters.com time to read: +7 min

Shares in Coinbase got a major boost after money management behemoth BlackRock (BLK.N) applied to launch a bitcoin-backed exchange-traded fund this month with Coinbase as its custodian. Coinbase shares are up nearly 54% in July, handily beating the tech-heavy Nasdaq Composite Index (.IXIC), which rose 4%. Price targets range widely: analysts polled by Refinitiv think Coinbase is worth anywhere from $8 billion to nearly $50 billion. Coinbase investors would therefore be unwise to count on a judge delivering Coinbase a win. Given bitcoin’s current $584 billion market capitalization, that suggests $74 billion of ETFs would not be much of a stretch.

Persons: Brian Armstrong, Coinbase, behemoth BlackRock, –, Gary Gensler, there’s, Goldman Sachs, Cowen, Refinitiv, Armstrong, Sam Bankman, Larry Fink, Charles Schwab, doubters, Ripple, John Foley, Streisand Neto Organizations: YORK, Reuters, Securities and Exchange, Nasdaq, SEC, Citigroup, Commodity Futures, BlackRock, Bank, New York Mellon, Interactive, Securities and Exchange Commission, Thomson Locations: Washington, United States, U.S

☆ BlackRock’s Aramco embrace makes sense in a vacuum
▼ + stars: | 2023-07-18 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +4 min

The $109 billion asset manager run by Larry Fink said on Monday it would add Saudi Aramco (2222.SE) Chief Executive Amin Nasser to its 16-strong board. But judged through an investment lens the appointment makes sense. Nasser, who led Aramco through its 2019 initial public offering, will take the seat currently occupied by Bader Alsaad, a former managing director of the Kuwait Investment Authority. Follow @thereallsl on TwitterCONTEXT NEWSBlackRock on July 17 said Amin Nasser, chief executive of Saudi Aramco, would join its board as an independent director. “Amin’s distinguished career at Aramco, spanning more than four decades, gives him a unique perspective on many of the key issues facing our firm and our clients,” BlackRock Chief Executive Larry Fink said in a statement.

Persons: Larry Fink, Amin Nasser, Nasser, Bader Alsaad, Jamal Khashoggi, Randall Stephenson, Fink, Richard Blumenthal, T Rowe Price, Fink –, “ Amin’s, Peter Thal Larsen, Sharon Lam Organizations: YORK, Reuters, BlackRock, Aramco, Kuwait Investment Authority, of, Petroleum, Saudi, Golfers ’ Association, Global Energy, Exxon Mobil, Chevron, Shell, Thomson Locations: BlackRock, Saudi Aramco, Kuwait, Saudi Arabia, United States, U.S, Texas, Connecticut, Aramco

☆ BlackRock made a climate pledge. Then it appointed a Saudi oil executive to its board
▼ + stars: | 2023-07-18 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —BlackRock, the world’s biggest asset manager, said Monday it has appointed Amin Nasser, chief executive of oil giant Saudi Aramco, to its board of directors — despite the New York-based firm’s pledge to accelerate investment in climate-friendly companies. Nasser joined the state-run oil giant Saudi Aramco in 1982 as a petroleum engineer, rising up the ranks to become CEO in 2015. Saudi Aramco is the world’s largest oil producer, with a market capitalization of 7.8 trillion Saudi riyal ($2.1 trillion). But, like other fossil fuel companies, pressure has built on Saudi Aramco to take more drastic action to curb its greenhouse gas emissions. President and CEO of Aramco Amin Nasser attends the Energy Asia conference in Kuala Lumpur, Malaysia June 26, 2023.

Persons: Amin Nasser, —, Bader Alsaad, Larry Fink, Nasser, Hasnoor Hussain, ” Nasser, BlackRock’s, Jeff Sonnenfeld, Nasser “ Organizations: London CNN — BlackRock, Saudi Aramco, New, BlackRock, Arab Fund for Economic, Social, Saudi, —, Energy Asia, World Petroleum Congress, Yale School of Management, CNBC, Aramco, CNN Locations: Saudi, New York, ”, Ukraine, Kuala Lumpur, Malaysia, decarbonize, United States, BlackRock

☆ BlackRock to expand proxy voting choice to retail ETF investors
▼ + stars: | 2023-07-17 | by ( Ross Kerber | ) www.reuters.com time to read: +2 min

FILE PHOTO: The BlackRock logo is pictured outside their headquarters in the Manhattan borough of New York City, New York, U.S., May 25, 2021. REUTERS/Carlo Allegri/File Photo(Reuters) - The world’s top asset manager BlackRock said it will offer proxy voting choices to U.S. retail investors of its biggest exchange-traded fund, expanding a strategy that could blunt criticism of how the firm considers environmental, social and governance (ESG) matters. Investors will not be able to specify votes in specific company elections. While many clients will rely on the votes BlackRock will continue to cast, “consistent with our fiduciary duty as an investment manager, others want the choice to participate in proxy voting more directly,” said Joud Abdel Majeid, Global Head of BlackRock Investment Stewardship, in a statement. Rivals including State Street and Vanguard have their own programs to devolve proxy voting rights.

Persons: Carlo Allegri, BlackRock, Glass, ”, Joud Abdel Majeid Organizations: REUTERS, BlackRock, New, Services, Glass Lewis, managements, Investment, Rivals, State, Vanguard, Republican Locations: BlackRock, Manhattan, New York City , New York, U.S, New York, Republican U.S

☆ Rick Froberg, Singer of Artful Intensity, Is Dead at 55
▼ + stars: | 2023-07-14 | by ( Mike Rubin | ) www.nytimes.com time to read: +1 min

Rick Froberg, the vocalist and guitarist best known for his work with the influential 1990s post-hardcore band Drive Like Jehu, whose urgent howl was one of rock’s most distinctive voices, died on June 30 in San Diego. Mr. Froberg, a beloved linchpin of the San Diego underground music scene that flourished in the 1980s and ’90s, sang in a raspy roar that segued smoothly between snarl and scream. Mr. Froberg particularly loved the gnarled growls of the Australian vocalists Bon Scott of AC/DC — his favorite band — and Chris Bailey of the proto-punk Saints, and he strived to follow them, Mr. Reis said. They bonded immediately and soon joined up in Pitchfork, with Mr. Froberg on vocals. The band was inspired, Mr. Reis said, by the noisy music being issued at the time on independent labels like Dischord, Touch & Go and SST.

Persons: Rick Froberg, Britton Neubacher, Froberg, ”, John Reis, Froberg’s, Bon Scott, Chris Bailey, Reis, “ Organizations: Pitchfork, DC Locations: San Diego

☆ Republicans question BlackRock fund governance, revisiting old concerns
▼ + stars: | 2023-07-07 | by ( Ross Kerber | ) www.reuters.com time to read: +2 min

July 7 (Reuters) - A group of 15 Republican state attorneys general have questioned whether directors of BlackRock mutual funds are sufficiently independent of the world's largest asset manager. The letter was addressed to ten individuals listed in a BlackRock filing as nominees to a board that oversees BlackRock closed-end mutual funds. Among other things, they said BlackRock fund trustees who serve as directors of companies where BlackRock owns more than 5% of shares could lead to independence concerns. They also cite how BlackRock fund directors are responsible for dozens of funds - exceeding BlackRock's own "overboarding" guideline for public company boards. Critics have raised similar issues in the past about whether well-paid mutual fund directors are positioned to speak up.

Persons: Austin Knudsen, Ross Kerber, Diane Craft Organizations: Republican, Reuters, Montana Attorney, BlackRock, AGs, Thomson Locations: Montana, BlackRock

☆ Some investors are shunning Wall Street’s tech frenzy
▼ + stars: | 2023-07-07 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

CNN —While many on Wall Street have chased the monster rally in mega-cap tech stocks this year, exchange-traded fund (ETF) investors seem to be bucking the “all-in on tech stocks” trend and opting for a more diversified strategy. The Nasdaq Composite index has climbed about 31% for the year, powered by a handful of tech stocks that have soared on hype surrounding artificial intelligence. The Vanguard Information Technology Index Fund saw $955 million of net outflows in the first half of 2023 compared to $291 million net inflows in the first half of last year. Investors had piled into tech-focused ETFs last year when the sector had fallen out of favor, betting that tech stocks would recover, buoyed by an economy that remains resilient despite the Federal Reserve’s punishing pace of interest rate hikes. Now, investors are exiting these ETFs and reallocating their cash to quality stocks with strong balance sheets that can withstand a potential economic downturn, says Todd Rosenbluth, head of research at VettaFi.

Persons: Todd Rosenbluth, ”, Shelby McFaddin, Larry Fink, Bitcoin, ” Fink, Antoni Trenchev, Charles Schwab, Clare Duffy, paring, Elon Musk, it’s, Read Organizations: CNN Business, Bell, CNN, Vanguard Information Technology, Investors, “, Wealth, BlackRock, Fox Business, Federal Reserve, Fidelity Digital Assets, Citadel Securities, Facebook, Twitter, Meta

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