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The Federal Reserve’s “first-ever foray into the corporate bond market” will wrap up by the end of the year, with the central bank pledging to sell off all of the ETF-investments and direct bond holdings it began purchasing in March 2020 as a Covid-prompted exercise of its emergency lending powers. That move into the corporate debt market aimed at “unfreez[ing] the flailing bond market,” worked “almost instantly, restoring investor faith in the market and helping it to begin functioning again” - NYTimes and WSJ and Bloomberg
The activist investors who successfully placed two “dissident board members” on Exxon Mobil’s board of directors last week have claimed a third seat and named Alexander A. Karsner known for his “strong environmental credentials” to fill it. The slate of new directors intent on forcing Exxon to adapt to a rapidly changing global climate was pushed along by Engine No. 1, a “s
Tyson Foods President and CEO Dean Banks (right) announced Wednesday that he is leaving the poultry company. He will be succeeded by current COO Donnie King (left).