Connect with us

Economy

SEC fined Goldman Sachs $4 million for failing to follow ESG principles

Published

on

principles of ESG investing

Goldman Sachs (GS) asset management division of investment bank Goldman Sachs will pay $4 million in fines for violations of ESG principles. This is reported on the website of the U.S. Securities and Exchange Commission (SEC).

The SEC noted that between April 2017 and February 2020, GS didn’t follow a few of its own principles of ESG investing outlined when selling investment products, which it said were intended to enforce ESG subpoenas.

At the same time, GS has rules that require its investment analysts to use an appropriate list of requirements to include securities of certain companies in the work of the funds. However, this work was not done in good faith. Also, stocks of companies that did not fully follow the ESG agenda were often included. For example, some made money on the sale of alcohol or tobacco.

We previously reported that Saudi Arabia’s oil exports in September plummeted to their lowest level since March.

Economy

Oil Russia ban news: Russia will ban the sale of its oil to countries that have imposed a price ceiling

Published

on

oil Russia ban

Will Russia sell oil to Europe? The administration of President Vladimir Putin is preparing an order prohibiting Russian companies and any trader from buying Russian oil to sell raw materials to countries and companies that have imposed a price ceiling on Moscow. Bloomberg news agency wrote this, citing a report from sources.

“The Kremlin is preparing a presidential decree banning Russian companies and any traders buying national oil from selling it to anyone who participates in the price ceiling,” the publication wrote.

According to the newspaper’s interlocutors, this would prohibit any mention of the price ceiling in contracts for Russian crude, as well as transferring it to countries that have joined the price ceiling for the natural resource.

In the first half of September, the press service of the US Treasury Department said that the USA, together with its allies from G7 (Great Britain, Germany, Italy, Canada, France and Japan) and the European Union (EU) would impose a ban on marine transportation of Russian oil on December 5 and oil products – on February 5.

Earlier we reported that EU negotiations on limiting the prices of Russian oil reached a deadlock today.

Continue Reading

Economy

EU talks on restrictions on Russian crude oil prices today stalled

Published

on

russian crude oil price today

Negotiations between the European Union countries about the “ceiling” of Russian crude oil prices today reached an impasse; Bloomberg reported, according to its sources.

Representatives of the bloc cannot reach an agreement on the ceiling price of Russian oil. According to the agency, the proposed European Commission limit of $65-70 per barrel, Poland and the Baltic countries believe “too generous,” while Greece and Malta, which is actively engaged in transporting fuel, do not want the limit to fall below $ 70. Recall that the Russian response to the oil price cap was negative. The Russian government has officially said that it will only sell oil at market prices.

“We are looking for ways to make this solution work and we are trying to find a common ground to implement it in a perfectly pragmatic and efficient way, while avoiding that it may cause excessive inconvenience to the European Union,” said German Chancellor Olaf Scholz.

Earlier, we reported that the SEC fined Goldman Sachs $4 million for non-compliance with ESG fund principles.

Continue Reading

Economy

More than 50% of Germans said they had given up shopping for new clothes and electronics. Is Germany’s economy failing?

Published

on

is germany's economy failing

Die Welt newspaper cited a survey by the consulting company EY and said that about 56% of Germans who took part in the survey said that they had practically refused to buy new clothes.

Also, 56% of German consumers reported that they now refrain from buying televisions, smartphones, laptops and game consoles. Also, nearly one in two now uses less gasoline, and one in four said they are saving on medications.

What caused the economic crisis in Germany? The main reason is the war in Ukraine and the resulting sanctions by the EU. Also, every second respondent reported that at the moment he could buy only the essentials. According to EY analysts, German households plan to further reduce spending in the coming months. In particular, they plan to save money on food delivery and entertainment.

Earlier, we reported that prices for liquefied natural gas in Asia reached their highest since October.

Continue Reading

Trending

©2021-2022 Letizo All Rights Reserved