Tag: NEW YORK
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Edinburgh Worldwide Trust Opposes Saba Capital’s Influence Over Management
The Edinburgh Worldwide Investment Trust’s board has strengthened its opposition to Saba Capital Management’s attempt to gain control by installing new board members. Saba has acquired substantial stakes in multiple investment trusts, aiming to replace existing fund managers. Chairman Jonathan Simpson-Dent firmly believes in preserving the trust’s strategic advantages for shareholders. The board of the…
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Governor Hochul Enacts Climate Change Law Charging Fossil Fuel Companies
Governor Kathy Hochul has signed the Climate Change Superfund Act, imposing a $3 billion annual fee on major oil and gas companies to combat climate change impacts. The program aims to collect $75 billion over 25 years, funded primarily by companies with significant carbon emissions. While supported by environmental groups, the measure has faced backlash…
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Insights from the SEC’s 2024 Report on Small Business Capital Formation
The SEC’s 2024 Annual Report highlights the stable activity in crowdfunding and Regulation A offerings, alongside governance insights regarding independent directors in private companies. Venture capital investments remain steady but are lower than previous peaks, with increasing deal sizes noted in early 2024. The Securities and Exchange Commission’s Office of the Advocate for Small Business…
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Morrison Foerster Welcomes Trio of Partners to Enhance Emerging Companies Group
Morrison Foerster announced the addition of partners Peter Fusco, Jae Zhou, and Frank Paz to its emerging companies and venture capital group in New York, bolstering its expertise in advising venture funds and tech companies at various life cycle stages. Morrison Foerster has expanded its New York office by welcoming three new partners—Peter Fusco, Jae…
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SEC Penalizes WisdomTree for Misleading ESG Investment Claims
The SEC fined WisdomTree Asset Management $4 million for greenwashing, stemming from misleading claims about its ESG investment strategies. The firm falsely asserted that three exchange-traded funds did not invest in companies associated with fossil fuels and tobacco, while evidence showed otherwise. This case emphasizes the necessity for accurate ESG representations and highlights the ongoing…
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Adani’s Bond Market Move Amid Bribery Allegations
A unit of Gautam Adani’s conglomerate raised $600 million in the US bond market just hours before federal prosecutors charged him with bribery in connection to securing solar contracts in India. The bond offering saw overwhelming demand, enabling lower borrowing costs despite the surrounding legal challenges. Hours before prosecutor charges were leveled against Gautam Adani…
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The 10 Major Telecommunications Companies Shaping Global Communication
This article examines the ten largest telecommunications companies by their twelve-month trailing revenue, highlighting significant players such as Verizon, Comcast, and Deutsche Telekom. The telecommunications sector is rapidly evolving from traditional services to advanced wireless technologies, presenting opportunities for investment. Key financial metrics and market positions are detailed for each company, providing insights into their…