After years of protests, lobbying, and legal battles, TC Energy the Canadian pipeline company behind the embattled Keystone XL pipeline project that “would have carried petroleum from.
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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
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JBS, the world’s largest meat processor, shuttered operations at locations throughout the U.S. and Canada on Tuesday after a ransomware attack that also impacted its Australian operations. The White House has confirmed that the group responsible is linked to a “criminal organization likely based in Russia.” The attack put a halt to nearly 1/5 of all meat processing in the U.S. - NYTimes and WSJ and Bloomberg and HuffPost and Law360 and MarketWatch
Etsy is acquiring Depop the “fashion resale marketplace beloved by Generation Z” for $1.6 billion in a deal announced this morning. The move “underscores the growing influence of clothing retail platforms” among consumers interested in both decluttering (for cash) and in lessening the environmental impact of their outfitting - NYTimes and Bloomberg and MarketWatch and TechCrunch