A New York City subway operator, a school teacher, and other public workers have filed a lawsuit against the city’s pension fund managers, charging that they have misused city pension money to pursue a political agenda and harmed public workers who depend on that money to fund their retirement. Filed in New York courts on…

Commentary President Joe Biden recently issued his first veto since taking office on Jan. 20, 2021. Biden rejected a bipartisan bill that would have required investment fund managers to take politics out of their investment decisions and to stay focused on providing the best return to their clients as much as possible. Why should you…

Distinguished professor of finance at NYU’s Stern School of Business Aswath Damodaran speaks his mind on environmental, social and governance (ESG). “ESG is built on quicksand,” Damodaran says. “There are services, and advocates of ESG have no idea what they’re measuring, and they keep changing their mind.” He also explains why ESG is built on…

News Analysis The Biden administration and Congress are currently caught up in a tug-of-war over a new Labor Department rule regarding whether Americans’ retirement savings should be used to finance a climate and social-justice agenda. This conflict goes well beyond obscure investment rules and administrative procedures and will likely affect the financial security of many…

News Analysis The Biden administration and Congress are currently caught up in a tug-of-war over a new Labor Department rule regarding whether Americans’ retirement savings should be used to finance a climate and social-justice agenda. This conflict goes well beyond obscure investment rules and administrative procedures and will likely affect the financial security of many…

Tesla shares dip after the Investor Day event falls short on details. What were they expecting? OpenAI is opening up access to its ChatGPT tool to third-party businesses, paving the way for the viral chatbot to be integrated into numerous apps and services. Will banning TikTok keep American user data from going to China? A new…

Is the law applied equally across the political spectrum? In the GOP’s probe into the Department of Justice, how did Attorney General Merrick Garland respond to questions from senators on the Hill? Calls are mounting for more information as the FBI doubles down on the COVID lab leak assessment. How is the White House responding…

Gov. Ron DeSantis has proposed new laws restricting financial institutions from using environmental, social, and governance (ESG) principles to guide investment decisions. In a press conference held at Florida SouthWestern State College in Naples, Florida, on Feb. 13, DeSantis said he was partly acting to protect Florida public employees’ pensions, as ESG-driven investing may not…

LAS VEGAS—The mom-and-pop concession stand on a northern Iowa lake rented boats, sold snacks and beverages, stocked bait and tackle, and offered visiting fisher folk tips on where to cast a line. In the fall, it sold shotgun shells for the hunters who replaced the boaters and anglers during deer seasons, making it worthwhile for…

Several investment funds that adhere to environmental, social, and governance (ESG) policies have performed worse than the S&P 500 index this year, with the underperformance of such funds potentially set to continue through 2023 as well. A Bloomberg analysis of the 10 largest ESG funds by assets reveals that they have all registered double-digit losses….