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Bank group led by Barclays, Morgan Stanley nearing deal on CO2 disclosure
INVESTING ESG MAY 17, 2023
Bank group led by Barclays, Morgan Stanley nearing deal on CO2 disclosure

The agreement would move efforts forward on calculating and disclosing the carbon footprints of the industry’s capital-markets operations.

UBS estimates $35 billion gain on Credit Suisse deal
NEWS WIREHOUSES MAY 17, 2023
UBS estimates $35 billion gain on Credit Suisse deal

But the bank warns that it faces billions in potential costs, including about $13 billion in markdowns on Credit Suisse assets and up to $4 billion in legal costs.

Wells Fargo to pay $1 billion in class-action lawsuit
NEWS WIREHOUSES MAY 16, 2023
Wells Fargo to pay $1 billion in class-action lawsuit

The shareholder suit accused the bank of making misleading statements about its compliance with federal consent orders following its 2016 scandal related to unauthorized customer accounts.

NYC pension funds sued for selling fossil-fuel assets
RETIREMENT RETIREMENT PLANNING MAY 12, 2023
NYC pension funds sued for selling fossil-fuel assets

Plaintiffs claim the three pension funds breached their fiduciary duty when they sold roughly $4 billion in fossil-fuel investments in 2021.

Random Walk's Malkiel offers tips on tax-loss harvesting
NEWS INDUSTRY NEWS MAY 11, 2023
Random Walk's Malkiel offers tips on tax-loss harvesting

The economist and writer, who's chief investment officer at robo-advisor Wealthfront, advocates using direct indexing to harvest tax losses.

Bain, Abu Dhabi purchase 20% stake in CI Financial's US wealth unit
NEWS RIAS MAY 11, 2023
Bain, Abu Dhabi purchase 20% stake in CI Financial's US wealth unit

The transaction allows CI to pay down some of the debt it accumulated as it acquired wealth management firms across the US.

More companies try to lure workers with benefits
RETIREMENT RETIREMENT PLANNING MAY 10, 2023
More companies try to lure workers with benefits

Mentions of employee benefits in job postings on a recruiting website have soared to the highest rates on record, with one in four jobs now offering retirement plans.

Goldman to pay $215 million to settle case on underpaying women
NEWS REGULATION AND LEGISLATION MAY 09, 2023
Goldman to pay $215 million to settle case on underpaying women

The trial, which had been scheduled for next month in New York, would have provided a rare public forum for testimony about inequality inside the financial industry.

More ESG ETFs close as issuers lose patience
INVESTING ESG MAY 09, 2023
More ESG ETFs close as issuers lose patience

Just 58 sustainable exchange-traded funds launched globally in the first quarter, down from 101 that were introduced during the same period last year.

Schwab starts hedging interest-rate risk with derivatives  
NEWS INDUSTRY NEWS MAY 09, 2023
Schwab starts hedging interest-rate risk with derivatives  

The derivatives were valued at $3.9 billion as of March 31, the Westlake, Texas-based company said in a regulatory filing.