Former First Republic CEO Michael Roffler told House lawmakers on May 16 that the California bank fell victim to the widespread panic caused by the collapse of Silicon Valley Bank on March 10 and Signature Bank two days later. The events that unfolded as a result were beyond First Republic’s control, he said. “No one…
Former First Republic CEO Blames Failure on Other Banks’ Collapse, Says Regulators Didn’t Raise Warnings
State AGs Charge That Insurance Companies’ Net Zero Agenda May Violate US Antitrust Laws
May 17, 2023
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Attorneys general from 23 states issued a letter to 28 insurance companies on May 15 requesting information regarding possible violations by the insurers of U.S. antitrust laws. In what could be the first step towards an antitrust lawsuit, the state AGs requested that the insurance companies provide details on their membership in climate associations like…
NYC Teacher, Subway Worker Sue City for ‘Abusing’ Retirement Fund for Climate Goals
May 15, 2023
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A New York City subway operator, a school teacher, and other public workers have filed a lawsuit against the city’s pension fund managers, charging that they have misused city pension money to pursue a political agenda and harmed public workers who depend on that money to fund their retirement. Filed in New York courts on…
Is Silver Still Undervalued Today?
Is silver undervalued? It’s a common question for new and seasoned investors alike. Like gold, silver is a safe-haven class investment. Unlike gold, silver’s value depends on a complex web of market factors. This can make it difficult to determine when it is a good time to buy silver. Is Silver Undervalued? The short answer…
State Attorneys General Act to Stop BlackRock from Acquiring Large Stakes in US Electric Utilities
May 12, 2023
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State attorneys general of 17 states filed a motion this week with the Federal Energy Regulatory Commission (FERC) to stop BlackRock, the world’s largest asset manager and an outspoken advocate for replacing fossil fuels with wind and solar power, from acquiring large shares in America’s utility companies. To protect the independence and stability of America’s…
IN-DEPTH: Iowa Supreme Court Will Likely Hear Challenge to Land Surveys on Private Property
May 12, 2023
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An Iowa Judge recently ruled in a Clay County case that a state law regarding access to private property for land surveys is unconstitutional. Another judge in a similar Hardin County case determined on May 10 that the same law is constitutional. Brian Jorde, managing lawyer at Domina Law Group in Omaha, Nebraska, who represents…
Australian Lithium Company Enters into $15.7 Billion Merger with US Partner
A new global lithium giant will emerge from the $15.7 billion (US$10.6 billion) merger between one of Australia’s largest lithium producers and a U.S.-based company. On May 11, Brisbane-headquartered Allkem and New York Stock Exchange-listed Livent announced that the two companies would enter into a merger of equals. The result of which will be an entity…
Top Congressional Democrat Defends ‘Woke’ ESG Investing
May 11, 2023
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A top congressional Democrat defended “woke” Environmental, Social, and Governance (ESG) ideology and that investors need to be “watchful and alert to opportunities and risks.” Rep. Jamie Raskin (D-Md.) blasted Republican attacks on ESG at a House Oversight Committee hearing on May 10, saying that it was needed to guide companies in their business decisions. Republicans nationwide…
Congratulations, Graduate! Now, Grow Your Wealth!
May 10, 2023
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Congratulations, new graduate! Now that you have your sheepskin in hand, it’s time to really grow up and start accreting personal wealth. But first, let’s assume a few things: 1. You’re not pursuing a graduate degree. 2. You have a plan to obtain whatever professional credentials or certifications you need or want. 3. You’re circumstances don’t…
UK Missed the Boat in Global Battery Race, Expert Tells MPs
Britain is falling behind in the race to develop an electric battery industry, a House of Commons committee heard on May 9, as it received evidence from an expert panel on battery materials. Business consultants and executives told the MPs during a Business and Trade Committee session that Britain has “missed the boat” in the…
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