CalPERS, the largest U.S. public pension fund, on April 19 said it will vote for a shareholder proposal that Berkshire Hathaway Inc. replace Warren Buffett as chairman, though he would remain chief executive officer. The fund, whose full name is …
About one-fifth of the California Public Employees’ Retirement System public markets portfolio is exposed to potential losses from climate change, the $381 billion pension fund manager reported this week in its first ever climate-risk disclosure report. The report, mandated by …
A group of trustees from some of America’s biggest public pensions are calling on companies to detail costs related to sexual harassment and any measures they’re taking to address the problem. “We don’t see how it could possibly be accretive …
For the past year, a special team of U.S. bank regulators has been on a quiet mission to end the belief on Wall Street that large banks are “too big to fail.” The team from the Federal Deposit Insurance Corp. …
Two bond insurers challenged the eligibility of Stockton, California, for bankruptcy, arguing that the city can cut pension benefits, a move that could have profound implications for the state. The court filings set a roadmap for a battle, in or …
State Controller John Chiang on Wednesday released his final review of the city of Montebello, alleging possible pension spiking, payroll errors, a loose petty cash drawer, and “systemic problems” in the Southern California city’s internal controls of its finances. “Lax …
Bank of America Corp. has reached a settlement with former Countrywide Financial Corp. institutional investors who decided not to join a $624 million class-action case that won court approval in February. The terms of the accord were not disclosed in …
U.N. climate talks in South Africa next month must make meaningful progress or governments “risk permanent damage to their credibility”, a group of global businesses warned on Thursday. At the Nov. 28-Dec. 9 summit in Durban, governments should try to …
