It’s counterstrike time: the Republican-led movement against environmental, social and corporate governance (ESG) investing came under fire at a major environmental conference on May 30. “I don’t think there’s any chance that the anti-ESG movement will win,” said Witold Henisz, a vice dean and faculty director of the ESG Initiative at the University of Pennsylvania’s…
ESG Advocates Say Anti-ESG Movement Creating ‘Concerns and Challenges’
May 30, 2023
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Business & MarketsChip RoyCompaniesDemocratseconomyEnvironmentESGInvestmentJohn PodestaMedia & Big TechPoliticsScienceSocial IssuesThe EconomistUnited NationsUSUS NewsWorld Economic Forum
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Dollar Tree Faces Profit Decline as Theft Surges, Considers Defensive Measures
Dollar Tree is taking losses in some areas due to a spike in theft and a decline in profits. Like many retailers, the discount store chain is considering “defensive merchandising” or restricting access to certain products. Many major store chains have blamed a massive surge in theft as a growing challenge, as left-wing prosecutors restrict…
Americans’ Retirement Expectations Keep Dropping Over Economic Worries
The outlook of Americans towards their retirement plans has worsened over the past year according to a recent Gallup poll, with concerns about rising prices and recession sapping away optimism. The expectations of non-retired Americans for a comfortable retirement are now at their “most pessimistic” level since 2012, falling by 10 percentage points since 2021,…
Hyundai Motor Group, LG Energy Jointly Investing $4.3 Billion in EV Battery Plant in Georgia
May 26, 2023
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Business & MarketsCompaniesenergyEVGeorgiaHyundaiInvestmentLG Energy SolutionRegional & State NewsState NewsUSUS News
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South Korea’s Hyundai Motor Group and LG Energy Solution Ltd. plan to invest 5.7 trillion won ($4.3 billion) to build an electric vehicle (EV) battery plant in the United States as part of a push to “drive the EV transition in America” and take advantage of tax credits provided by the Inflation Reduction Act (IRA). The two companies…
Rest of Australia to Help Pay for Victorian Government’s Debt Disaster
Australians outside of Victoria will be footing some of the state’s ballooning debt with Premier Daniel Andrews advising property investors and business owners to use his new taxes in their tax deduction claims to the federal government. “Any land tax is fully tax-deductible depending on the way in which they have their affairs arranged,” he…
US First Quarter GDP, Core Inflation Revised Higher
The U.S. economy expanded slightly faster in the first quarter than previously projected, the Bureau of Economic Analysis (BEA) reported. According to the second estimate published on May 25, the gross domestic product (GDP) climbed at an annualized rate of 1.3 percent in the first three months of 2023, up from the advance estimate of…
Landlords Face a Crisis After Years of Strong Growth
May 24, 2023
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Business & MarketseconomyFloridainflationInvestmentMarketsNew YorkNY Real Estatereal estaterentalsUSUS Real Estate
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After witnessing over a decade of strong growth, landlords are now facing the worse real estate crisis since 2008. Even in the first months of the pandemic, areas of the country like Florida were able to benefit, as millions of Americans fled major metropolitan regions to more welcoming locations. Despite a temporary drop in tenants in…
Europe Turning Less Competitive, Losing Business to North America, Says Survey
May 24, 2023
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Business & Marketseconomic policieseconomyenergyEuropeEurope economyinflationinflation in europeInvestmentWorld
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Europe’s competitiveness is weakening and many firms are considering moving operations to North America, a survey of business leaders from the region has found. The survey (pdf), published by the European Round Table for Industry (ERT) on May 23, found that 84 percent of CEOs and Chairs believe Europe’s competitiveness is weakening, with 16 percent…
The Victorian State Budget Targeting Big Business, Housing Investors and Private Schools
May 24, 2023
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AustraliaBusiness & Marketsbusiness and private schoolseconomic policieshuge debtinflationInvestmentpersonal financevictorian state budgetWorld
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The Victorian state government will target big business, housing investors and private schools as the main drive to collect tax revenues as outlined in its new budget report released on May 23. But despite the targeted taxes, Treasurer Tim Pallas has denied the state budget is steeped in class warfare. “Nobody’s engaging in a terminology…
Several Federal Reserve Officials Mull 11th Round of Rate Hikes
May 23, 2023
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bank crisisBusiness & Marketseconomic policieseconomyFederal Reserveinflationinterest ratesInvestmentMarketsPolicies & ImpactsrecessionUS
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Several Federal Reserve officials are open to at least one more interest rate hike in the coming months to cool inflation. Several top policymakers have publicly spoken in favor of returning to the hawkish policy of the previous year at the next meeting in June, reported Fox Business. However, the central bank has come under increasing…
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