New Anti-ESG Fund Targets CEO Pay Structures and Diversity Initiatives
In a significant development within investment strategies, a new anti-ESG fund has been established with a firm focus on disconnecting CEO compensation from corporate diversity, equity, and inclusion (DEI) initiatives. Launched in April 2025, this fund is spearheaded by a group of investors and financial experts who argue that the incorporation of such social criteria into pay structures is neither justifiable nor beneficial for company performance.
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Barclays Drops US Diversity Goals Following Internal Review
In a significant policy shift, Barclays has decided to abandon its previously established diversity targets for its operations in the United States. This change comes on the heels of an internal review that analyzed the effectiveness and implications of the bank's diversity initiatives. The decision to reassess its commitments highlights the broader challenges financial institutions face in balancing diversity aspirations with operational realities.
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Paul Hastings Expands Into Abu Dhabi to Capitalize on AI Growth
In a significant strategic move, global law firm Paul Hastings has announced the opening of a new office in Abu Dhabi. This expansion is aimed at harnessing the region's burgeoning focus on artificial intelligence (AI) and digital transformation, aligning the firm's services with the evolving landscape of technology law.
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Fed and FDIC to Reassess Community Reinvestment Act Rules Amid Banking Scrutiny
The Federal Reserve (Fed) and the Federal Deposit Insurance Corporation (FDIC) have announced plans to withdraw a final rule related to the Community Reinvestment Act (CRA), a pivotal law that encourages banks to meet the credit needs of underserved communities. This withdrawal comes at a time when both agencies are under increased pressure to evaluate the effectiveness of banking regulations in promoting fair lending and equitable access to financial services.
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Mitie CEO Phil Bentley Stresses the Vital Role of ESG in Company Strategy
In a revealing conversation, Mitie's Chief Executive Officer Phil Bentley reaffirmed the company's commitment to Environmental, Social, and Governance (ESG) principles amid a shifting corporate landscape. As the focus on sustainability intensifies across various sectors, Bentley shared insights on how these values are integrally woven into Mitie's overall strategic framework.
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Mobile Money Platform Mukuru Aims for Significant Expansion in Africa
Mukuru, a prominent mobile money service provider, is setting its sights on substantial growth across the African continent. The company has announced ambitious plans to enhance its business footprint and deliver financial services to an even larger segment of the population.
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JPMorgan Revamps Equity Program Amidst Rising Criticism of Diversity Initiatives
In a significant move reflecting the current landscape of diversity initiatives within corporate America, JPMorgan Chase has announced a renaming of its equity program, specifically opting to drop the term “diversity” from its title. This decision comes at a time when the dialogue surrounding diversity, equity, and inclusion (DEI) policies is being heavily scrutinized, sparking debates across various sectors, including finance.
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Kuwait Makes Historic Move to Allow Banks to Offer Mortgages
In a groundbreaking development for the financial landscape of Kuwait, the Central Bank has announced plans to allow local banks to offer mortgage lending for the very first time. This significant policy shift is poised to revolutionize access to home ownership for many Kuwaitis and enhance the overall functionality of the housing market.
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Affirm Partners with Experian to Enhance Buy Now, Pay Later Transparency
In a significant move for the Buy Now, Pay Later (BNPL) sector, Affirm, a leading financial technology company, announced plans to share comprehensive data related to its BNPL transactions with Experian, one of the foremost credit reporting agencies. This collaboration is set to reshape how consumers are viewed in terms of creditworthiness and financial reliability.
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Roche Abandons Global Diversity Leadership Targets Amid Political Pressure from Trump
Roche, the Swiss multinational healthcare company, has made a significant decision to scrap its global diversity, equity, and inclusion (DEI) leadership targets. This move comes on the heels of intense political pressure orchestrated by former President Donald Trump, who has been vocal against companies that implement DEI initiatives. The abandonment of these targets signals a notable shift in Roche's approach to workplace diversity and reflects broader trends influenced by political pressures in the corporate landscape.
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