Ray Dalio, Mike Bloomberg Partner for Ocean Exploration
The two billionaires will strengthen OceanX’s research, sustainability projects for a cool $185 million.
Newsmakers
NYC Comptroller Wants 3 Major Indexes to Ban Saudi Stocks
Scott Stringer says city’s five pension funds want to shun the kingdom following Khashoggi murder.
Canada Pension Plan Focuses on Board Gender Composition
Pension says companies with diverse boards perform better financially.
New York Sues Exxon Mobil over Alleged Climate Change Disinformation
State AG accuses oil giant of ‘fraudulent scheme’ to deceive investors.
Council of Institutional Investors, Ash Williams Tell NYSE, NASDAQ to Curb Multi-Share IPOs
The group wants newly listed companies to convert to one share-one vote structures after seven years on the exchanges.
Britt Harris, Texas Endowment to Review Investments in ‘Scrutinized Entities’
Compliance procedures expanded to include companies at risk of being sanctioned by US.
PRI Laggards Could Be Out
Asset managers and owners will be given two years to show they are responsible investors before being delisted from the United Nations-backed Principles for Responsible Investment.
Norway’s Finance Ministry: Keep Sovereign Wealth Fund with Central Bank
Move rejects 2017 proposal to spin off management of the Government Pension Fund Global.
Former State Street Head Sentenced to 18 Months for Fraud
Ross McLellan and others were adding secret commissions to fixed-income, equity trades with institutional clients between 2010 and 2011.
Chicago Mayor Avoids Pension Mess in Final Budget Speech
Emanuel touts deficit shrinkage, but a still-whopping $28 billion hole awaits his successor next year.
PBGC to Cover ‘Vast Majority’ of Sears Pension Benefits
Pensions lifeboat says it’s prepared to provide for 90,000 retirees and workers.
Treasurers Demand Zuckerberg Quit as Facebook Chairman
Social network CEO shouldn’t have dual role, say financial officials from NYC and three states, backing Trillium plan.
Penn State Endowment Returns 7.8% in 2018
Performance is among the lowest reported by other major public universities so far this year.
Funded Ratio for Corporate Pensions Hits 10-Year High
The 100 largest company pension plans gained $21 billion in September.
Romania to Double State Pensions by 2022
Government plans to boost pension spending to $35.2 billion in four years.