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This story is available exclusively to Insider subscribers. Become an Insider and start reading now. BlackRock s chief executive struck a defensive tone on Thursday during a call to discuss fourth-quarter earnings when an analyst asked about the asset management industry s regulatory landscape. The concept that the asset management industry is not regulated that must be coming from bankers. We re not a bank, CEO Larry Fink said on the call. BlackRock is the largest money manager in the world with $8.7 trillion in assets under management. It is operating atop the industry as President-elect Joe Biden s incoming administration is expected to take a tougher stance on financial services industry regulation than its predecessors. ....
LEAH MILLIS/Reuters This story is available exclusively to Insider subscribers. Become an Insider and start reading now. After the violent riot that stormed the Capitol last week, companies across finance, technology, and other sectors rushed to address the insurrection and, later, how they would review political donations. The moves reflect the rise and influence of sustainable investing, or environmental, social, and corporate governance (ESG) investing strategies. As the responsibility of corporate boards comes under closer watch by ESG-minded analysts and money managers, looking for where reputational and other risks lie, companies don t want to look flat-footed. It is unknown how long many companies pauses in political giving will last, or whether they will move the needle at all for lawmakers long-term power. But one thing is certain: they are speaking up. ....
Chip Somodevilla/Getty This story is available exclusively to Insider subscribers. Become an Insider and start reading now. Charles Schwab said in a statement that its political action committee (PAC) would halt contributions to all lawmakers for the rest of this year. The wealth manager and brokerage founded by Charles R. Schwab, who serves as the firm s chairman and is a major Republican donor, cited the extraordinary circumstances related to this election cycle. As a policy, the firm s PAC divides contributions evenly between Democrats and Republicans. Data from Open Secrets at the Center for Responsive Politics also shows that 67%, or about $923,000, of personal congressional contributions made for the 2020 election cycle by any individual donor whose employer the FEC lists as Charles Schwab went to Republicans. ....
» NYSE reversed its decision to delist three major Chinese telecom companies in a move that s leaving some in the industry confused about what to expect next NYSE reversed its decision to delist three major Chinese telecom companies in a move that s leaving some in the industry confused about what to expect next Dan DeFrancescoJan 6, 2021, 20:58 IST Happy hump day! It s been quite a few days over at the Big Board (aka the New York Stock Exchange). On December 31, the exchange announced it intended to delist three major Chinese telecom companies - China Telecom, China Mobile, and China Unicom Hong Kong. The announcement was a result of an executive order signed by President Donald Trump back in November requiring US investors to exit positions in Chinese companies that could be considered a threat to US national security. ....
NYSE s perplexing China listings U-turn More mega dream tech deals Citi banker in legal spat Dan DeFrancesco The New York Stock Exchange s Stacey Cunningham rang the opening bell for Snowflake s first trading day. Happy hump day! It s been quite a few days over at the Big Board (aka the New York Stock Exchange). On December 31, the exchange announced it intended to delist three major Chinese telecom companies †China Telecom, China Mobile, and China Unicom Hong Kong. The announcement was a result of an executive order signed by President Donald Trump back in November requiring US investors to exit positions in Chinese companies that could be considered a threat to US national security. ....