Barrons (August 13)
“Turkey makes up less than 1% of the emerging markets index, but its small size hasn’t kept it from creating big ripples during the dog days of summer. Most investors are steering clear of Turkey, as it grapples with the fallout from years of binging on dollar-denominated debt, but the bigger question is who else could get caught up in Turkey’s crisis.”
Washington Post (June 1)
“Even as the Trump administration’s commitment to the [Paris] climate accord wavered, the Exxon vote showed that climate concerns were gaining ground in the business world.” BlackRock, Vanguard and State Street apparently cast their “shares in opposition to Exxon management.” Their success “marked an important step for groups that have been trying to force corporations to adopt greater disclosure and transparency about the financial fallout of climate change.” Ultimately, 62.3% of shares cast were against ExxonMobil management, effectively forcing “the oil giant to report on the impact of global measures designed to keep climate change to 2 degrees centigrade.”
Tags: BlackRock, Climate, Disclosure, Exxon, Fallout, Impact, Management, Opposition, Paris accord, State Street, Transparency, Trump, Vanguard
New York Times (September 23)
“What was Volkswagen thinking?” Clearly it was not about the massive fallout that has ensued since the automaker’s rigged emissions tests, affecting 11 million vehicles, came to light. “For something this deceitful and stupid, a corporate mea culpa is not enough. Volkswagen must explain how something like this could happen, and identify those who came up with the idea and authorized it.”
Tags: Automaker, Deceitful, Emissions, Fallout, Volkswagen
Financial Times (August 26)
“China’s tottering property market presents one of the greatest threats to the global economy.” The reverberations would be felt around the globe, particularly by nations reliant on natural resource exports. “The size of China’s property boom–and therefore the fallout from any crash–is awe-inspiring. In just two years, 2011 and 2012, China produced more cement than the US did in the entire 20th century.”
Tags: Boom, Cement, China, Crash, Exports, Fallout, Global economy, Natural resources, Property market, Threats, U.S.
