During the discussion in which BlackRock CEO Larry Fink told his audience that his firm was “forcing behaviors” on companies whose shares it held, he also divulged a key lever of the progressive movement to control corporations: proxy voting. Fink told attendees at a 2017 New York Times conference that as an index fund manager,…

Finance and energy experts testified before the House Oversight Committee on Tuesday that the environmental, social, and governance (ESG) movement is impairing Americans’ retirement savings, reducing living standards, and infringing on civil rights, while Democrat members protested that GOP efforts against ESG threatened Americans’ economic freedom. “As American families continue to struggle under rampant inflation,…

State attorneys general of 17 states filed a motion this week with the Federal Energy Regulatory Commission (FERC) to stop BlackRock, the world’s largest asset manager and an outspoken advocate for replacing fossil fuels with wind and solar power, from acquiring large shares in America’s utility companies. To protect the independence and stability of America’s…

Commentary As regular as the turn of the seasons, each January sees Larry Fink, founder and CEO of BlackRock, the world’s largest asset manager, publish a lengthy letter on the state of the world and its implications for finance and investors. This year, January turned to February, and still no letter. Instead, February saw Tim…

A top U.S. investigation firm has been raided in China. Due diligence company Mintz Group found itself raided and its staff seized by Chinese officials. The company has since closed its office there, adding it had received no warning or legal notice. All five staff members detained are Chinese nationals. This comes ahead of a…

Over concerns of increasing energy costs, Texas has joined a multi-state effort to curb the power of investment fund management company Vanguard over publicly traded utilities, Attorney General Ken Paxton announced on Jan. 3. The Lone Star state is joining Alabama, Arkansas, Kentucky, Louisiana, Mississippi, Montana, Nebraska, Ohio, South Carolina, and South Dakota, who, through…

The acquisition by investment managers BlackRock and Vanguard of ever-increasing shares in America’s public utility companies is setting off alarm bells from conservatives and progressives alike. In April, the Federal Energy Regulatory Commission (FERC) approved a request from BlackRock to increase its ownership up to 20 percent of a public utility’s voting shares without being…

The acquisition by investment managers BlackRock and Vanguard of ever-increasing shares in America’s public utility companies is setting off alarm bells from conservatives and progressives alike. In April, the Federal Energy Regulatory Commission (FERC) approved a request from BlackRock to increase its ownership up to 20 percent of a public utility’s voting shares without being…

Investment firm Vanguard Inc. has announced that it’s pulling out from a major climate initiative as the company faces increasing pressure for its policy of using environmental, social, and governance (ESG) factors while investing in securities. In 2021, Vanguard joined the Net Zero Asset Managers initiative (NZAM), which aims to push the asset management industry…

A coalition of 13 Republican attorneys general filed a “motion to intervene” on Monday, asking a federal energy regulator to block The Vanguard Group from buying shares of publicly listed utility firms due to its decarbonization goals. In February, Pennsylvania-based Vanguard asked the Federal Energy Regulatory Commission (FERC) to extend the blanket authorization granted in…