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Push to kneecap super proxy advisers


Push to kneecap super proxy advisers
Apr 30, 2021 – 9.30pm
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The influential advisory firm controlled by the $500 billion industry super fund sector would be kneecapped under a push by Treasurer Josh Frydenberg to regulate the way institutional shareholders vote on how companies deal with environmental, social and governance issues.
The proposed measures include forcing proxy advisers to give the companies they are reviewing a week’s notice of how they are recommending shareholders should vote and the research on which it is based. Firms would also have to give clients access to the company’s response.
Australian Council of Superannuation Investors president Ian Silk with chief executive Louise Davidson.  ....

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Manchester United and Juventus shares surge on European Super League news


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The values of two of the listed football clubs linked to the proposed new European Super League surged in trading on Monday.
Shares in Manchester United plc jumped 9 per cent to $17.62 at 6.25pm UAE time, valuing the company at $2.87 billion. Shares in Italy s most successful club Juventus were trading almost 19 per cent higher at just below €0.91 ($1.08), giving it a value of about €1.22bn ($1.47bn).
The two clubs are part of a group of 12 who announced in a statement late on Sunday that they plan to establish their own midweek European Super League, which will contain 15 founding clubs as well as a qualifying mechanism allowing five other clubs to compete to join. The competition will be financed by JP Morgan, the lender confirmed in a statement to AFP. ....

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