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☆ Big Investors Expected to Scrap ‘Dark Green’ Labels on More EU Funds
▼ + stars: | 2023-01-10 | by ( Dieter Holger | ) www.wsj.com time to read: +6 min

SFDR rules require EU-marketed funds to be designated as one of three categories: “dark green” Article 9 funds, which aim for sustainability or decarbonization; “light green” Article 8 funds, which advance one or more environmental, social and governance objectives; and Article 6 funds, which don’t have any specific ESG-related objectives. Upgrades and downgrades in classifications typically occur with “similar frequency,” but since September, more than 80% of reclassifications have moved Article 9 funds to Article 8, analysts at Jefferies said in December. At the end of November, there were around $452 billion in Article 9 funds, nearly $4.2 trillion in Article 8 funds and $3.9 trillion in Article 6 ones. In November, BlackRock moved 16 funds representing around $26 billion to Article 8 from Article 9, but also retained 13 dark-green funds valued at about $13 billion. Another challenge is for fund managers to gather and report required ESG data—such as greenhouse-gas emissions, gender pay gaps and water use—for individual stocks and bonds in a fund.

☆ China will drop COVID restrictions and quarantines for visitors starting in January
▼ + stars: | 2022-12-26 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +2 min

Visitors to China will no longer be subject to strict COVID restrictions starting January 8. China is ending quarantine requirements for visitors, and will begin managing COVID as a Class B disease. Now, visitors will also no longer have to abide by previous COVID restrictions. China had clung to tight restrictions longer than many areas, battering the economy and angering citizens. As of December 19, there were 116,634 confirmed cases in China, according to the World Health Organization, with 28,493 new cases in the prior 24 hours.

☆ Mexico's America Movil to propose combination of share series
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: 1 min

MEXICO CITY, Nov 22 (Reuters) - Mexican telecommunications giant America Movil will propose reclassifying three of its share series to shareholders, the company said Tuesday. The "AA," "A" and "L" share series would become part of the company's "B" series, it said in a filing. The change would require amending the company's bylaws and will be subject to regulatory authorization, America Movil said. Reporting by Kylie Madry, Editing by Isabel WoodfordOur Standards: The Thomson Reuters Trust Principles.

☆ Here's the outlook for corporate financial results as the worsening global economy is poised to lift the US dollar higher
▼ + stars: | 2022-10-12 | by ( Jason Ma | ) www.businessinsider.com time to read: +6 min

Good morning, this is Jason Ma and today's edition highlights the outlook for corporate financial results as the US dollar rises. Here's what a strong dollar means for stocks as earnings season heats up. If the reading tops 8.3%, then expect the stock market to sell off by 5%, the bank's trading desk said. But readings below 8.1% could spark some big gains for the stock market. How has the strong dollar affected your portfolio?

☆ Uber, Lyft and DoorDash tumble as Biden administration proposes gig-worker rule that eases path to full employee
▼ + stars: | 2022-10-11 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

DoorDash, Lyft and Uber all fell Tuesday after the Biden administration proposed a change to employee classifications. The companies say the contractor classification is more attractive to workers seeking a flexible schedule. Shares of Uber tumbled 7.6% to $25.43 in midday trading, while DoorDash fell 3% to $46.21, and Lyft plummeted 7.4% to $11.86. The Biden administration took steps last year toward changing the classification by rescinding a Trump-era rule that made it easier for gig employers to classify workers as contractors. Instead of waiting to see the full ramifications of the Trump Labor Department's rule, the Biden administration said in its notice to the Federal Register that it's moving to walk back the rule now.

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