Notable business headlines include activist investor group BlueBell calling for BlackRock CEO Larry Fink to step down from the company after failing to move investments beyond fossil fuels, Juul Labs reaching a settlement covering over 5,000 lawsuits, and TikTok's growing security concerns.
Battle lines have been drawn in America’s latest culture war, with Ron DeSantis, Florida’s governor, its general. Its provocation was to invest at least some of its $8tn assets under management according to environmental, social and governance (ESG) principles and to tell companies to think about climate risk. This, according to DeSantis and Florida’s chief financial officer, flouts BlackRock’s fiduciary duty to prioritise returns above all else.
Hedge fund says company still too attached to fossil fuels as it promotes eco-conscious strategy