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June 10, 2021

ESG Governance

Ping An finds suitable rebound deal

Reuters
HONG KONG (Reuters Breakingviews) – Ping An Insurance may indemnify one costly deal with a better one. Not long after losing $1.5 billion in a failed property investment, the Chinese conglomerate plans to spend up to $7.9 billion to buy control of Founder Group, Peking University’s bankrupt corporate empire. A......

Canal+ Polska revives Warsaw listing ambitions amid IPO boom

Reuters
FILE PHOTO: The Vivendi logo is pictured at the main entrance of the entertainment-to-telecoms conglomerate headquarters in Paris March 14, 2014. REUTERS/Charles Platiau/File Photo LONDON (Reuters) – Polish pay-TV platform Canal+ Polska has revived plans for an initial public offering (IPO) in Warsaw, seeking to take advantage of a surge......

UK investors expand anti-slavery push to construction, materials sectors

Reuters
LONDON (Reuters) – A UK investor coalition that presses companies to unearth modern-day slavery in their supply chains said on Monday it was going to expand its campaign into the construction and materials sectors. FILE PHOTO: Construction workers are seen working at a site in London, following the outbreak of......

More women in Italian boardrooms, but fewer female CEOs

Reuters
FILE PHOTO: Ferrari’s logo is seen on the facade of Milan’s stock exchange, downtown Milan, Italy January 4, 2016. REUTERS/Stefano Rellandini MILAN (Reuters) – Italian listed companies have increased the number of women serving on their boards but the number of female chief executive officers fell slightly last year, the......

More women in Italian boardrooms, but fewer female CEOs

Reuters
FILE PHOTO: Ferrari’s logo is seen on the facade of Milan’s stock exchange, downtown Milan, Italy January 4, 2016. REUTERS/Stefano Rellandini MILAN (Reuters) – Italian listed companies have increased the number of women serving on their boards but the number of female chief executive officers fell slightly last year, the......

U.S. corporate reformers face more fights to get proxy votes

Reuters
By Ross Kerber, Jody Godoy BOSTON / NEW YORK (Reuters) – U.S. corporations are fighting harder this year to keep activist shareholder proposals off the ballot at their annual meetings, partly because of a proliferation of investor demands for racial justice reforms. The trend shows the high stakes for the......

Toshiba shareholders in landmark win for Japan corporate governance with vote for probe

Reuters
TOKYO (Reuters) – Toshiba Corp shareholders voted on Thursday in favour of an independent investigation into allegations that investors were pressured ahead of last year’s annual general meeting – a watershed victory expected to spur more shareholder activism. FILE PHOTO: Reporters raise their hands during a Toshiba news conference at......

Top Toshiba shareholder gets support from CalPERS, Norway fund for probe

Reuters
TOKYO, March 15 (Reuters) – California Public Employees’ Retirement System (CalPERS) and Norges Bank Investment Management (NBIM) voted in favour of a proposal by a top Toshiba Corp shareholder for an independent probe into the Japanese conglomerate, according to voting records. Singapore-based Effissimo, which is Toshiba’s largest shareholder with a......

Global mining trade group picks sustainability expert as new CEO

Reuters
JOHANNESBURG (Reuters) – The International Council on Mining and Metals (ICMM) said on Tuesday that it had appointed Rohitesh Dhawan, a managing director at Eurasia Group with expertise in climate change and sustainability, as the trade group’s new chief executive. The appointment of Dhawan, effective from April, reflects increased pressure......

China to put financial institution bankruptcy laws on legislative agenda

Reuters
BEIJING (Reuters) – China will put financial institution bankruptcy laws on its legislative agenda for the first time, according to a report by the top legislative body released on Monday. The absence of a legal bankruptcy framework for Chinese financial institutions has prevented technically insolvent firms from exiting the market......

British fund industry warns companies on ethnic diversity

Reuters
FILE PHOTO: A person jogs, with financial district in the background, amid the coronavirus disease (COVID-19) outbreak, in London, Britain, January 5, 2021. REUTERS/Henry Nicholls LONDON (Reuters) – Britain’s investment industry trade body has warned companies they must show progress on boardroom ethnic diversity or risk pushback at their 2021......

Breakingviews – Vivendi’s $40 billion music spinoff is Bolloré shuffle

Reuters
Vincent Bollore, Chairman of the Supervisory Board of media group Vivendi, attends the company’s shareholders meeting in Paris, France, April 19, 2018. LONDON (Reuters Breakingviews) – The only surprising thing about Vincent Bolloré’s plan to spin off a chunk of Universal Music is that he didn’t think of it sooner.......

IMF wants more reforms for Ukraine to get next part of loan

Reuters
KYIV (Reuters) – Ukraine must make more progress on reforms to unlock the next part of a $5 billion loan, the International Monetary Fund (IMF) representative in Kyiv said on Saturday, after what he described as productive talks. FILE PHOTO: Ukrainian Prime Minister Denys Shmygal speaks during an interview with......

Breakingviews – Rupert Murdoch’s ESG flaws hurt more than ever

Reuters
The Fox News electronic ticker is seen outside the News Corporation building in New York City, in New York, U.S., November 8, 2017. REUTERS/Shannon Stapleton MELBOURNE (Reuters Breakingviews) – There’s a hole in the News Corp story. The company trades at a curiously deep discount to its collection of misfit......

Papa John’s shareholder lawsuit over workplace culture is dismissed

Reuters
NEW YORK (Reuters) – Papa John’s International Inc on Wednesday won the dismissal of a lawsuit accusing the pizza chain and founder John Schnatter of defrauding shareholders by concealing its “toxic” workplace environment. FILE PHOTO: The Papa John’s store in Westminster, Colorado, U.S. August 1, 2017. REUTERS/Rick Wilking/File Photo U.S.......

Investor payouts and job cuts jar with U.S. companies’ social pledge

Reuters
(Reuters) – When Randall Stephenson joined 180 of his peers leading many of the richest U.S. companies in signing the Business Roundtable pledge on the “purpose of a corporation” in August 2019, the then-chief of AT&T Inc promised to look out for the interests of all the wireless carrier’s stakeholders,......

Toshiba regains Tokyo exchange’s top category amid calls for better governance

Reuters
FILE PHOTO: The logo of Toshiba is seen as a shareholder arrives at Toshiba’s extraordinary shareholders meeting in Chiba, Japan March 30, 2017. REUTERS/Toru Hanai TOKYO (Reuters) – The Tokyo Stock Exchange approved on Friday Toshiba Corp’s return to the bourse’s first section amid calls from some shareholders for better......

Toshiba regains Tokyo exchange’s top category amid calls for better governance

Reuters
FILE PHOTO: The logo of Toshiba is seen as a shareholder arrives at Toshiba’s extraordinary shareholders meeting in Chiba, Japan March 30, 2017. REUTERS/Toru Hanai TOKYO (Reuters) – The Tokyo Stock Exchange approved on Friday Toshiba Corp’s return to the bourse’s first section amid calls from some shareholders for better......

UK’s Deliveroo raises $180 million from investors, valued at $7 billion

Reuters
FILE PHOTO: A courier for food delivery service Deliveroo rides a bike in central Brussels, Belgium January 16, 2020. Picture taken January 16, 2020. REUTERS/ Yves Herman LONDON (Reuters) – British food-delivery company Deliveroo said on Sunday it had raised a further $180 million from existing investors, including minority shareholder......

Analysis: Trump suspension to test Twitter CEO’s truce with investors

Reuters
(Reuters) – Twitter Inc’s decision to suspend President Donald Trump’s account will test a truce made last year between CEO Jack Dorsey and top shareholders of the social media company which allowed Dorsey to remain in the top job. FILE PHOTO: Twitter Chief Executive Officer Jack Dorsey testifies remotely during......

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