By Ross Kerber (Reuters) -Top U.S. bank investors gave only slim support on Tuesday to shareholder resolutions calling for the lenders to wind down new fossil fuel financing, setbacks for climate acti[...]
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Environment
US financial institutions hit by deposit flight as clients seek higher returns
(Reuters) -Deposits at three financial institutions fell in the first quarter as the industry’s biggest crisis in more than a decade prompted a flight of funds, with customers seeking better ret[...]
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PNC Financial beats profit estimates on boost from higher interest rates
(Reuters) – PNC Financial Services Group reported an 18.5% rise in first-quarter profit on Friday, as the Federal Reserve’s rate hikes fueled a surge in the U.S. regional lender’s ne[...]
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L&G’s fund arm to back climate votes at U.S., Canadian banks
By Simon Jessop LONDON (Reuters) -Britain’s biggest asset manager, Legal & General Investment Management (LGIM), said on Thursday it would back a number of climate-focused shareholder resolu[...]
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New York pension seek stricter climate emissions rules from bank portfolios
By Ross Kerber (Reuters) – Shareholder resolutions filed by New York City’s top pension official will ask top Wall Street banks including JPMorgan Chase & Co and Bank of America to set[...]
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Fund manager allocation to U.S. stocks in January collapses – BofA survey
By Samuel Indyk LONDON (Reuters) – Fund managers’ allocation to U.S. equities collapsed in January, with 39% saying they had an underweight position, the most since October 2005, a BofA su[...]
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North Carolina treasurer wants BlackRock CEO to go, but keeps assets at firm
By Ross Kerber (Reuters) -North Carolina’s state treasurer on Friday called for BlackRock Inc Chief Executive Laurence Fink to resign or be removed from the top asset management firm, citing its[...]
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Vanguard quits net zero climate effort, citing need for independence
By Ross Kerber and Noor Zainab Hussain (Reuters) -Vanguard Group Inc is pulling out of a major investment-industry initiative on tackling climate change, the world’s biggest mutual fund manager[...]
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Texas may offer exit path for sanctioned financial firms
By Ross Kerber (Reuters) – A Texas official has offered big financial companies a potential avenue to leave an energy sanctions list if they drop out of corporate groups aiming to limit global e[...]
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