Former Vice President Al Gore lambasted Vanguard following the company’s decision to sever ties with the Net Zero Asset Managers initiative on Wednesday. Companies joining the initiative must promise to move portfolio companies closer to eliminating net carbon emissions by 2050 or sooner. Vanguard opted to withdraw from the project in order to “provide the …
Author: Ben Zeisloft
FTC Moves To Block Microsoft’s $69 Billion Purchase Of Activision
Regulators at the Federal Trade Commission are attempting to block Microsoft from acquiring video game developer Activision Blizzard for $69 billion, claiming that the merger would enable the technology conglomerate to reduce market competition with subsidiary Xbox. The agency contended in a press release that Microsoft routinely acquires gaming companies to “suppress competition from rival …
Elizabeth Warren Asks Federal Reserve To Investigate Banking System’s Exposure To Crypto
Sen. Elizabeth Warren (D-MA) and Sen. Tina Smith (D-NM) asked the Federal Reserve to examine the banking system’s exposure to cryptocurrencies amid continued fallout from defunct company FTX. In a letter addressed to Federal Reserve Chair Jerome Powell, the lawmakers noted that cryptocurrency firms have desired the “benefits that come with federal recognition from bank …
Kevin O’Leary Says He Fell Victim To ‘Groupthink,’ Lost All Of His $15 Million Payout As FTX Ambassador
Canadian celebrity investor Kevin O’Leary said that he lost his entire $15 million payout from FTX, the defunct cryptocurrency exchange for which he was an ambassador. FTX filed for bankruptcy last month after users discovered that the company was likely intertwined with Alameda Research; both were controlled by now-broke former billionaire Sam Bankman-Fried and a …
How Disney Could Win Back The Trust Of Its Lost Conservative Fans
Disney’s new chief executive shocked the business world last week by admitting that the company’s previous opposition to parental rights legislation in Florida was a mistake. During a town hall meeting with employees, new Disney CEO Bob Iger expressed regret that his predecessor and would-be successor, Bob Chapek, positioned the company against legislation that bans …
Chinese Manufacturing Is Quickly Collapsing
One of the most noteworthy geopolitical and economic developments in modern history has been the emergence of China as a superpower. The miraculous rise of the once-ascendent communist nation, however, could lose tremendous momentum as the strength of its manufacturing sector rapidly dissipates. China’s gross domestic product has expanded at an average of 9% since …
Major Indian Company To Start Producing Semiconductors As Global Shortages, Threats From China Continue
Indian multinational conglomerate Tata Group plans to start production of semiconductors in the country within the next few years. Multiple manufacturing economies in East Asia enforced harsh lockdown measures two years ago, creating disruptions in the worldwide semiconductor supply chain that continue to the present day. Tata Sons Chairman Natarajan Chandrasekaran revealed during an interview …
Vanguard Drops Out Of Climate Initiative As Reaction Against Woke Investing Continues
Vanguard will no longer participate in the Net Zero Asset Managers initiative as lawmakers and the broader marketplace scrutinize the company’s support of the environmental, social, and governance movement, also known as ESG. Signatories of the Net Zero Asset Managers initiative promise to move portfolio companies closer to eliminating net carbon emissions by 2050 or …
Sam Bankman-Fried Was A ‘Fan Of Tay Tay,’ Badly Wanted Her To Sign $100 Million Marketing Deal With FTX
Former FTX CEO Sam Bankman-Fried accumulated an impressive number of high-profile celebrity brand ambassadors for his cryptocurrency empire, but he was especially dogged in his devotion to securing a nod from Taylor Swift. FTX filed for bankruptcy after users discovered that the company was likely intertwined with Alameda Research, a trading firm controlled by Bankman-Fried. …
Newsom Moves To Limit Oil Company Profits In Energy-Strapped California
Democratic California Governor Gavin Newsom unveiled a “price gouging penalty” for oil companies this week as Golden State lawmakers assembled to deliberate energy policy. The proposal, introduced by State Sen. Nancy Skinner (D-CA), would compel oil companies to reduce their profits to avoid a civil penalty from the California Energy Commission. Neither a penalty size …