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The Nasdaq logo is displayed at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021. Youngwood, who has joint French-U.S. citizenship, was named group CFO at UBS in December 2021 and started in the role in May 2022. Earlier this year, Youngwood left UBS after it completed its deal to buy Credit Suisse. Dennison joined Nasdaq in 2015 as chief accounting officer and was elevated to CFO in March 2021. Prior to joining Nasdaq, Dennison served as head of financial reporting at Goldman Sachs Group (GS.N).

Persons: Sarah Youngwood, Ann Dennison, Youngwood, Dennison, Adena Friedman, Tal Cohen, Nelson Griggs, David French, Anirban Sen, Lisa Shumaker, Andy Sullivan Organizations: Nasdaq, REUTERS, Nasdaq Inc, UBS Group AG, U.S, Reuters, UBS, Credit Suisse, JPMorgan Chase &, Consumer & Community, JPMorgan, Goldman Sachs, Thomson Locations: New York City, U.S, Swiss, New York

The Nasdaq logo is displayed at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021. Nasdaq's current CFO Ann Dennison is expected to step down from her role, the sources said, requesting anonymity as the matter is confidential. Youngwood, who has joint French-U.S. citizenship, was named group CFO at UBS in December 2021 and started in the role in May 2022. Dennison joined Nasdaq in 2015 as chief accounting officer and was elevated to CFO in March 2021. Prior to joining Nasdaq, Dennison served as head of financial reporting at Goldman Sachs Group (GS.N).

Persons: Sarah Youngwood, Ann Dennison, Youngwood, Dennison, Adena Friedman, Tal Cohen, Nelson Griggs, David French, Anirban Sen, Lisa Shumaker Organizations: Nasdaq, REUTERS, Nasdaq Inc, UBS Group AG, UBS, Credit Suisse, JPMorgan Chase &, Consumer & Community, JPMorgan, Goldman Sachs, Thomson Locations: New York City, U.S, Youngwood, Swiss, New York

The Nasdaq logo is displayed at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021. Nasdaq's current CFO Ann Dennison is expected to step down from her role, the sources said, requesting anonymity as the matter is confidential. Youngwood, who has joint French-U.S. citizenship, was named group CFO at UBS in December 2021 and started in the role in May 2022. At JPMorgan, Youngwood held a variety of roles during her 25-year stint at the bank, according to her LinkedIn profile. Dennison joined Nasdaq in 2015 as chief accounting officer and was elevated to CFO in March 2021.

Persons: Sarah Youngwood, Ann Dennison, Youngwood, Dennison, Tal Cohen, Nelson Griggs, David French, Anirban Sen, Lisa Shumaker Organizations: Nasdaq, REUTERS, Nasdaq Inc, UBS Group AG, UBS, Credit Suisse, Swiss, JPMorgan Chase &, Consumer & Community, JPMorgan, Goldman Sachs, Thomson Locations: New York City, U.S, Swiss, New York

☆ Blackstone's data center gamble
▼ + stars: | 2023-08-28 | by ( Daniel Geiger | Rebecca Ungarino | ) www.businessinsider.com time to read: +12 min

The firm has recently touted its data center investments amid the artificial intelligence boom. Blackstone's push into data centers comes with its own set of challenges and questions. "You might not own apartment buildings in 10 years, but the largest data center company in the world." Meghji said in the company's video that interest from data center users in QTS data centers had doubled "since ChatGPT came out." Gerber said he had recently discussed data center investments with Blackstone representatives and has confidence in the strategy.

Persons: Blackstone, —, Glenn Schorr, Schorr, outflows, Stephen Tuckwood, Tuckwood, Jonathan Gray, Gray, Jeenah, Chad Williams, BREIT, they're, Patrick Davitt, QTS, Nadeem Meghji, Meghji, ChatGPT, Matthew Barakat, Prince William County, redemptions, Selwyn Gerber, Gerber, Matt Malone Organizations: Blackstone, Income Trust, QTS Realty Trust, Evercore, Wealth Management, Reuters, Autonomous Research, Blackstone Infrastructure Partners, McKinsey, AP, Starwood, MSCI's, Los, RVW, Opto Investments, FS Investments Locations: California, BREIT, QTS, Americas, CBRE, Manassas , Virginia, Prince William, Virginia, Brookfield, Los Angeles, Bellagio, Las Vegas

[1/2] Wells Fargo Bank branch is seen in New York City, U.S., March 17, 2020. REUTERS/Jeenah Moon Acquire Licensing RightsNEW YORK, Aug 25 (Reuters) - Wells Fargo (WFC.N) has agreed to pay a $35 million civil penalty to settle U.S. charges that the company overcharged advisory fees, the Securities and Exchange Commission (SEC) said on Friday. The SEC said it charged Wells Fargo Clearing Services LLC and Wells Fargo Advisors Financial Network LLC for overcharging more than 10,900 investment advisory accounts more than $26.8 million in advisory fees. Wells Fargo settled without admitting or denying the charges, the SEC said in a statement. Wells Fargo paid affected account holders about $40 million, including interest, to reimburse them for the overcharging, according to the statement.

Persons: Wells, Wells Fargo, Ismail Shakil, Nupur Anand, Susan Heavey, Mark Potter Organizations: Wells, REUTERS, Securities and Exchange Commission, SEC, Services, Financial, Advisors, Thomson Locations: Wells Fargo Bank, New York City, U.S, Wells Fargo, Wells, Ottawa, New York

REUTERS/Jeenah Moon/File Photo Acquire Licensing RightsAug 24 (Reuters) - Blackstone's (BX.N) newly established China unit has received regulatory approval to raise funds that will be invested overseas, joining other global asset managers in seeking to tap Chinese investor demand for foreign assets. Blackstone registered a fund management unit with the Asset Management Association of China under the qualified domestic limited partnership (QDLP) programme, a notice from the regulator showed. The unit, which was established in March, has seven full time employees, including five fund professionals, the notice said. The quota-based QDLP programme, first launched in 2012, allows foreign and domestic fund managers to raise money from Chinese high-net worth individuals and institutions which is then fed into offshore funds. The QDLP programme is generally more popular when the yuan is weaker.

Persons: Blackstone, Roxanne Liu, Selena Li, Edwina Gibbs Organizations: Blackstone Group, REUTERS, Asset Management Association of China, U.S, KKR KKR.N, BlackRock BLK.N, Investment, Thornburg Investment Management, Thomson Locations: New York City, U.S, China, Hong Kong, Shanghai

☆ US economy near stalling point as consumer demand weakens, survey says
▼ + stars: | 2023-08-23 | by ( Safiyah Riddle | ) www.reuters.com time to read: +2 min

REUTERS/Jeenah Moon/File Photo Acquire Licensing RightsAug 23 (Reuters) - U.S. business activity approached the stagnation point in August, with growth at its weakest since February as demand for new business in the vast service sector contracted. Wednesday's data was worse than expected, with economists polled by Reuters predicting that the services index would be 52.2 and the manufacturing index would be 49.3. "A near-stalling of business activity in August raises doubts over the strength of U.S. economic growth in the third quarter. Consumer demand posed a substantial drag on revenue for firms, as new business and orders contracted for firms across all sectors. New business in the service sector declined for the first time in six months, falling to 49.2 from 51.0 the month prior.

Persons: Chris Williamson, Safiyah Riddle, Chizu Organizations: REUTERS, P Global, Service, Manufacturing, Reuters, P Global Market Intelligence, Consumer, Fed, Thomson Locations: Little Italy, Manhattan, New York City , New York, U.S

The Nasdaq logo is displayed at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021. U.S. home builder confidence weakened in August, as mortgage rates and stubbornly high housing prices discouraged prospective buyers. Better enjoyed huge growth during the onset of the COVID-19 pandemic when mortgage rates cratered, notching more than $850 million in revenue in 2020, filings show. When interest rates fall, Better expects huge demand for cash-out refinancings, which it says it will be able to deliver in one day. Earlier this year, Better.com launched a one-day mortgage product, allowing customers to get pre-approved, lock in a rate and get a mortgage commitment letter within 24 hours.

Persons: Vishal Garg, Garg, Better.com, Hannah Lang, Michelle Price, Mark Potter Organizations: Nasdaq, REUTERS, Federal, refinancings, Aurora Acquisition Corp, U.S . Securities, Exchange Commission, SEC, Better, Zoom, Thomson Locations: New York City, U.S, SoftBank, Aurora, Washington

☆ Explainer: Why is China so angry about the Taiwan vice president's US trip?
▼ + stars: | 2023-08-19 | by ( ) www.reuters.com time to read: +4 min

Here are the key issues in Taiwan-U.S., China-U.S. and Taiwan-China relations, and why China is so upset about Lai's visit to the United States. Taiwan's official name continues to be the Republic of China, though these days the government often stylises it as the Republic of China (Taiwan). China views Taiwan President Tsai Ing-wen as a separatist and has rebuffed repeated calls from her for talks. She says the Republic of China and People's Republic of China are "not subordinate" to each other. Beijing says Tsai must accept that both China and Taiwan are part of "one China".

Persons: William Lai, Xi Jinping, Mao Zedong's, LAI, Lai, Joe Biden, Tsai Ing, Tsai, Ben Blanchard, Kim Coghill Organizations: Lotte, REUTERS, Rights, Taiwan, CHINA, Communist Party, Democratic, STATES, United States, Taiwan Relations, Thomson Locations: Manhattan, New York City , New York, U.S, Rights TAIPEI, China, Taiwan, Taipei, United States, Paraguay, People's Republic of China, Republic of China, Beijing, TAIWAN, United, Washington, TAIPEI, BEIJING

☆ China condemns visit of 'troublemaker' Taiwan VP to US
▼ + stars: | 2023-08-13 | by ( Ryan Woo | ) www.reuters.com time to read: +4 min

China, which claims democratically governed Taiwan as its own territory, has repeatedly denounced Lai's trip, which includes another stopover in San Francisco on Wednesday on his way back to Taipei. In a statement issued shortly after Lai landed in New York on a scheduled flight from Taipei, China's foreign ministry said it opposed any form of visit by "Taiwan independence separatists" to the United States. "Lai stubbornly adheres to the separatist position of Taiwan independence and is a troublemaker through and through," the ministry said. China has stepped up its military activities around Taiwan over the past three years, seeking to force the island into accepting Beijing's sovereignty. In April, China staged war games around Taiwan in an angry response to Taiwan President Tsai Ing-wen meeting U.S. House Speaker Kevin McCarthy in California on a stopover on the way back to Taipei following her visit to Central America.

Persons: William Lai, Carlos Garcia Rawlins, Lai, Lai's, Washington's, Laura Rosenberger, Wang Yi, Joe Biden, Xi Jinping, Tsai Ing, Kevin McCarthy, Ryan Woo, Yimou Lee, Ben Blanchard, William Mallard, Jamie Freed Organizations: Taoyuan International Airport, REUTERS, Carlos Garcia Rawlins BEIJING, Taiwan, U.S, American Institute, Eastern Theatre Command, Liberation Army, Chinese Foreign, Central America, Thomson Locations: Taoyuan, United States, New York, Paraguay, Taiwan, U.S, Beijing, China, San Francisco, Taipei, Taiwan Strait, Washington, California, Central

☆ Wells Fargo hires Credit Suisse veteran as head of financial sponsors
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +1 min

Wells Fargo Bank branch is seen in New York City, U.S., March 17, 2020. REUTERS/Jeenah Moon/File PhotoAug 7 (Reuters) - U.S. bank Wells Fargo (WFC.N) said on Monday Malcolm Price has joined its corporate and investment bank (CIB) as the head of financial sponsors, after 35 years at Credit Suisse. During his time at Credit Suisse, Price helped form its financial sponsors coverage business in 1996. He was the Swiss bank's first head of Americas financial sponsors before assuming global leadership of the group in 2015. At Wells Fargo, Price will jointly report to Tim O'Hara, head of banking and Scott Warrender, head of coverage within the banking unit.

Persons: Malcolm Price, Price, Tim O'Hara, Scott Warrender, Pritam Biswas, Shailesh Organizations: REUTERS, Credit Suisse, UBS Group, Thomson Locations: Wells Fargo Bank, New York City, U.S, Wells, Swiss, Wells Fargo, Bengaluru

☆ Food-Delivery Workers in New York City Launch Labor Fight ‘Just to Survive’
▼ + stars: | 2023-08-04 | by ( Erin Ailworth | Photographs Jeenah Moon For The Wall Street Journal | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Jamie Dimon, Larry Summers blast Fitch's shock US downgrade as 'ridiculous' and 'bizarre and inept'
▼ + stars: | 2023-08-03 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +5 min

Fitch's downgrade of the US government's credit score on Tuesday has come as a shock to markets. Here's how 8 top voices have reacted, including Jamie Dimon, Warren Buffett and Larry Summers. But the decision of a credit rating agency today, as the economy looks stronger than expected, to downgrade the United States is bizarre and inept," Summers said in a post on X. Fitch rating services down grades US credit rating from AAA to AA+. I strongly disagree with Fitch's decision, and I believe it is entirely unwarranted," Yellen said.

Persons: Jamie Dimon, Warren Buffett, Larry Summers, Fitch, Berkshire Hathaway, Treasurys, Buffett, Dimon, Jeenah, Summers, Mohamed El, Erian, Paul Krugman, Krugman, Robert Kiyosaki, Rich Dad, Brace, Janet Yellen, Patrick Semansky, Yellen, Mark Haefele, Haefele Organizations: AAA, Service, Biden, Wall, Berkshire, CNBC, JPMorgan, Allianz, Fitch, AA, Fed, Treasury, AP, UBS Global Wealth Management Locations: Wall, Silicon, U.S, United States, States

☆ Wells Fargo pledges $60 million for worker re-entry program
▼ + stars: | 2023-08-02 | by ( Nupur Anand | ) www.reuters.com time to read: +1 min

Wells Fargo Bank branch is seen in New York City, U.S., March 17, 2020. REUTERS/Jeenah Moon/File PhotoNEW YORK, Aug 2 (Reuters) - Wells Fargo (WFC.N) on Wednesday said it may commit $60 million to Concordance, a nonprofit organization that helps workers with criminal records re-enter the workforce. "We are generally focused on providing support for housing, financial literacy, sustainability, and this is outside our wheelhouse but it is an important issue and deserves attention," Daley said. JPMorgan Chase (JPM.N) runs a similar initiative, Second Chance, to sign up new employees with criminal records. Certain estimates suggest that about a quarter of the U.S. population is left out of the talent pool due to criminal records.

Persons: Wells, William Daley, Daley, JPMorgan Chase, Nupur Anand, Lananh Nguyen, Jonathan Oatis Organizations: REUTERS, JPMorgan, Companies, Initiative, Thomson Locations: Wells Fargo Bank, New York City, U.S, New York

☆ Wells Fargo expects to pay $1.8 billion to help refill FDIC fund
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

Wells Fargo Bank branch is seen in New York City, U.S., March 17, 2020. REUTERS/Jeenah Moon/File PhotoNEW YORK, Aug 1 (Reuters) - Wells Fargo (WFC.N) said on Tuesday it expects to pay $1.8 billion to help replenish a government deposit insurance fund that was drained of $16 billion this year after three banks collapsed. Under a Federal Deposit Insurance Corporation (FDIC) proposal, Wells Fargo estimates it will face a pretax "special assessment" of $1.8 billion, which it will pay when the FDIC finalizes the rule, it said in a regulatory filing on Tuesday. Banking giants are likely to bear most of the costs of replenishing the fund, the FDIC said in May. Wells Fargo also said that separate proposals on U.S. capital rules could lead it to rejig its balance sheet.

Persons: Wells, Wells Fargo, Nupur Anand, Lananh Nguyen, Matthew Lewis, Cynthia Osterman Organizations: REUTERS, Federal Deposit Insurance Corporation, FDIC, . Banking, Thomson Locations: Wells Fargo Bank, New York City, U.S, New York

☆ New York to pay $13 million to protesters arrested during George Floyd protests
▼ + stars: | 2023-07-20 | by ( Rachel Nostrant | ) www.reuters.com time to read: +3 min

[1/3] Protesters march following the verdict in the trial of former Minneapolis police officer Derek Chauvin, found guilty of the death of George Floyd, in Brooklyn, New York City, New York, U.S., April 20, 2021. REUTERS/Jeenah Moon/File PhotoNEW YORK, July 20 (Reuters) - The city of New York has agreed to pay $13 million to hundreds of people arrested during the 2020 George Floyd demonstrations, according to attorneys for the plaintiffs, who said it was the largest class action settlement ever paid to protesters in the United States. The city agreed Wednesday to pay $9,950 to each of the more than 1,300 protesters arrested by New York police officers during various protests between May 28 and June 4, 2020, according to a release by the attorneys for the plaintiffs. "The City and NYPD remain committed to ensuring the public is safe and people’s right to peaceful expression is protected," it said. In a separate settlement in March, New York agreed to pay an estimated $7 million to more than 300 people arrested during a June 4, 2020, demonstration in New York's Bronx borough.

Persons: Derek Chauvin, George Floyd, Floyd, Black, Remy Green, Colleen McMahon, Savitri Durkee, Rachel Nostrant, Aurora Ellis Organizations: REUTERS, New York, City, NYPD, New York Police Department . People, U.S, Protesters, Barclay's, Thomson Locations: Minneapolis, Brooklyn , New York City , New York, U.S, New York, United States, New York City, City, Brooklyn, , New York, New York's Bronx

☆ U.S. luxury sales increasingly coming from high-end shoppers, Bain & Co says
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +2 min

PARIS, June 23 (Reuters) - Luxury brands focused on wealthier consumers in the United States are performing better than those who appeal to aspirational shoppers on lower incomes who are deterred by the economic uncertainty, consultancy Bain & company said. For example, premium fashion retailer Hugo Boss last week raised its sales and profit targets for 2025 and said it continued to see strong growth in the U.S. and was expecting revenue to grow in the Asia-Pacific region. Lovato said that while there were "some questions marks" about China, and possibly a slowing of sales growth with the middle class, there was still appetite there. Luxury sales stood at 345 billion euros last year, according to Bain. Reporting by Mimosa Spencer and Elisa Anzolin; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

Persons: Bain, Federica Levato, Hugo Boss, Lovato, Mimosa Spencer, Elisa Anzolin, Alison Williams Organizations: Bain, Reuters, People, Saks Fifth, REUTERS, Thomson Locations: United States, China, New York City, U.S, Asia, Pacific

☆ Motor vehicles, building materials lift US retail sales in May
▼ + stars: | 2023-06-15 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

WASHINGTON (Reuters) - U.S. retail sales unexpectedly rose in May as consumers stepped up purchases of motor vehicles and building materials, which could help to stave off a dreaded recession in the near term. Retail sales increased 0.3% last month after rising 0.4% in April, the Commerce Department said. SLOWER MOMENTUMExcluding automobiles, gasoline, building materials and food services, retail sales gained 0.2% last month. Data for April was revised slightly lower to show these so-called core retail sales rising 0.6% instead of the previously reported 0.7%. With price pressures easing in May, economists estimated that core retail sales increased 0.2% after adjusting for inflation.

Persons: ”, Robert Kavcic, Mike Graziano, Ben Ayers, Unadjusted, Conrad DeQuadros, Tim Quinlan Organizations: WASHINGTON, Federal Reserve, Fed, Wednesday, BMO Capital Markets, Commerce Department, Reuters, Saks Fifth, REUTERS, RSM, Consumers, Nationwide, Labor Department, Treasury, Atlanta Fed, Writers Guild of America, Brean, Manufacturing, Federal Locations: Minnesota, U.S, Toronto, New York City, Columbus , Ohio, Texas, California, Writers Guild of America . Georgia, Florida , Illinois , Indiana , Connecticut, New York, Philadelphia, Wells, Charlotte , North Carolina

☆ Trump classified documents case differs from Biden, Clinton, Pence issues — here's how
▼ + stars: | 2023-06-15 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +7 min

But what they don't say is that Trump is the only former official who refused to return all the classified documents as soon as he was asked about them. Lawyers for President Joe Biden discovered 10 classified documents in November of last year at an office he used in downtown Washington. Experts say the crucial difference is intent, namely what Trump allegedly did after he learned the National Archives wanted the classified documents he had back. The boxes, the lawyer and the ex-presidentThe DOJ's indictment includes photos of classified documents found at former President Donald Trump's Mar-A-Lago residence. Out of options, the archives referred the missing classified documents case to the Justice Department, which obtained a grand jury subpoena on May 11 for all remaining classified material held by Trump.

Persons: Donald Trump, Trump, Trump's, Clinton, Biden, Joe Biden, United Kingdom Rishi Sunak, Drew Angerer, Hillary Clinton, General Merrick Garland, it's, Mike Pence, Pence, Jon Sale, Donald Trump's Mar, Walt Nauta, Nelson Mullins, Bill Clinton, David Rubenstein, David Kelley, that's, Nauta, hadn't Organizations: WASHINGTON, White, Pence U.S, White House, Getty, State, FBI, Justice Department, National Archives, Justice, DOJ, Mar, Trump ., MSNBC, Bloomberg, Southern, of, PBS Locations: United Kingdom, Washington ,, Washington, Wilmington , Delaware, Pence, Miami, Florida, Mar, Sale, New York, Clinton, U.S, of New York

☆ US retail sales rise; weekly jobless claims steady at higher levels
▼ + stars: | 2023-06-15 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

Retail sales are mostly goods and are not adjusted for inflation. Food services and drinking places are the only services category in the retail sales report. Sales at food services and drinking places, the only services category in the retail sales report, rose 0.4%. UNDERLYING STRENGTHExcluding automobiles, gasoline, building materials and food services, retail sales gained 0.2% last month. Data for April was revised slightly lower to show these so-called core retail sales rising 0.6% instead of the previously reported 0.7%.

Persons: Robert Kavcic, Jerome Powell, Unadjusted, Lucia Mutikani, Chizu Nomiyama, Paul Simao Organizations: Saks Fifth, REUTERS, Commerce Department, Reuters, BMO Capital Markets, Federal Reserve, Treasury, Atlanta Fed, Labor Department, Thomson Locations: New York City, U.S, WASHINGTON, Toronto, Minnesota, Texas, California , Georgia, Florida , Illinois, Indiana, New York

Adenza was created in 2021 when Thoma Bravo merged Calypso Technologies with AxiomSL and is expected to generate about $590 million in revenue this year. As part of the Adenza deal, Thoma Bravo will get a 14.9% stake in Nasdaq, making the private equity firm one of the company's biggest shareholders. Nasdaq said buying Adenza is expected to increase the medium-term organic revenue growth outlook for its Solutions Businesses, which designs and develops financial software for investors, from 7%-10% to 8%-11%. Goldman Sachs & Co and J.P. Morgan Securities are financial advisers to Nasdaq, while Qatalyst Partners is lead financial advisor to Thoma Bravo and Adenza. Wachtell, Lipton, Rosen & Katz is serving as legal adviser to Nasdaq, while Kirkland & Ellis is serving as legal adviser to Thoma Bravo and Adenza.

Persons: Thoma, Adena Friedman, Morningstar, Michael Miller, Friedman, Adenza, Andrew Bond, Holden Spaht, Thoma Bravo's Spaht, Goldman Sachs, Wachtell, Lipton, Katz, Ellis, Manya Saini, Anirban Sen, John McCrank, David French, Milana, Michelle Price, Sruthi Shankar, Nivedita Bhattacharjee, Nick Zieminski, Lisa Shumaker Organizations: Thoma Bravo, Nasdaq Nasdaq, Nasdaq, Calypso Technologies, REUTERS, OMX, International Securities Exchange, Rosenblatt Securities, Solutions, Goldman Sachs & Co, Morgan Securities, Qatalyst, Rosen, Kirkland, Adenza, Thomson Locations: New York City, U.S, Adenza, Bengaluru, New York, Washington

☆ US companies face less pressure for climate and social reforms
▼ + stars: | 2023-06-09 | by ( Ross Kerber | ) www.reuters.com time to read: +3 min

REUTERS/Jeenah MoonJune 9 (Reuters) - Shareholder support for proxy resolutions on topics including climate change and workforce diversity dropped significantly this spring, analysts said, as tough proposals from activists met with growing political pressure on fund firms' voting. Support for resolutions on social issues fell to 20% this year so far, from 26% in 2022 and 33% in 2021, Georgeson said. He declined to discuss specific companies, but his description fit results like at major U.S. banks that defeated calls to wind down financing for major fossil fuel projects. "These dynamics have led to an overall decline in investor support for environment and social shareholder proposals," Colton said. Both have previously said they vote on a case-by-case basis and noted an increasing number of proposals affect support rates.

Persons: Russell, Georgeson, Kilian Moote, ESG, Sow, Andrew Behar, Ford, Behar, Benjamin Colton, Colton, Scott Shepard, Ross Kerber, Sabrina Valle, Lincoln Organizations: New, REUTERS, Ford, eBay, Exxon, Street Global Advisors, BlackRock, Vanguard, Center for Public Policy Research, IBM, National Center, Thomson Locations: New York City, Manhattan, Weehawken , New Jersey, U.S, China, Houston

☆ Macy's cuts annual forecasts as customers curb spending, shares fall
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +2 min

[1/2] People wait in line at Macy's before Black Friday sales in the Manhattan borough of New York City, New York, U.S., November 26, 2021. The company said it would need to discount further in the second quarter to clear out spring and early summer stocks as consumer spending weakens. This was in contrast to Macy's expectations last quarter to rein in promotions. Macy's expects 2023 sales between $22.8 billion and $23.2 billion, compared with its prior forecast of $23.7 billion to $24.2 billion. It sees adjusted full-year profit per share between $2.70 and $3.20, compared with $3.67 to $4.11 per share it had forecast previously.

Persons: Ananya Mariam Rajesh, Shinjini Organizations: Black, REUTERS, Macy's, Kohl's, Major U.S, Target, Nordstrom Inc, Thomson Locations: Macy's, Manhattan, New York City , New York, U.S, Bengaluru

☆ This little-known rule shapes parking in America. Cities are reversing it
▼ + stars: | 2023-05-20 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

Approximately 2 billion parking spots cover the country, enough to pave over the entire state of Connecticut. Cities have built so much parking through a policy few people know: minimum parking requirements. Mandatory parking minimums helped shape the modern makeup of America cities. More parking spaces mean bigger parking lots. There are an estimated three to eight parking spots for every car in America.

☆ Jordan Neely Killing Shows Limits of Eric Adams’s Subway-Safety Push
▼ + stars: | 2023-05-18 | by ( Jimmy Vielkind | Photographs Jeenah Moon For The Wall Street Journal | ) www.wsj.com time to read: 1 min

New York officials are deploying more resources to help homeless people on the subway system. The case of Jordan Neely , who was killed by a fellow passenger during an apparent mental-health episode, shows just how far the city must go to solve one of its most stubborn problems.

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