Author: James McAllister
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State AGs: Social policies could violate the law following SCOTUS affirmative action ruling
Thirteen Republican state attorneys general sent a letter on July 13 to major corporations suggesting that certain social policies (the S in ESG) like making hiring or promotion decisions based on race might be illegal following the Supreme Court’s recent ruling on affirmative action. Ballotpedia tracks support for and opposition to the environmental, social, and…
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U.S. weekly unemployment insurance claims fall to 237,000
New applications for U.S. unemployment insurance benefits fell 12,000 for the week ending July 8 to a seasonally adjusted 237,000. The previous week’s figure was revised up by 1,000 to 249,000. The four-week moving average as of July 8 fell 6,750 from the previous week’s revised average to 246,750. The number of continuing unemployment insurance…
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Congressmen send letters requesting ESG information from Big Three asset managers
House Judiciary Committee Chairman Jim Jordan (R-Ohio), along with Reps. Thomas Massie (R-Ky.) and Dan Bishop (R-N.C.), sent letters to the Big Three passive asset management firms—BlackRock, State Street, and Vanguard—on July 6 requesting information about their efforts to combat climate change through ESG. Jordan said such efforts could violate antitrust laws. Ballotpedia tracks support…
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U.S. weekly unemployment insurance claims rise to 248,000
New applications for U.S. unemployment insurance benefits rose 12,000 for the week ending July 1 to a seasonally adjusted 248,000. The previous week’s figure was revised down by 3,000 to 236,000. The four-week moving average as of July 1 fell 3,500 from the previous week’s revised average to 253,250. The number of continuing unemployment insurance…
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U.S. weekly unemployment insurance claims fall to 239,000
New applications for U.S. unemployment insurance benefits fell 26,000 for the week ending June 24 to a seasonally adjusted 239,000. The previous week’s figure was revised up by 1,000 to 265,000. The four-week moving average as of June 24 rose 1,500 from the previous week’s revised average to 257,500. The number of continuing unemployment insurance…
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House Republican introduces bill opposing ESG in retirement funds
Congressman Andy Barr (R-Ky.) introduced a bill on June 21 opposing the Biden Labor Department’s rule allowing the use of ESG in retirement plan investments. Both chambers recently passed a Congressional Review Act (CRA) resolution overturning the Labor Department rule, but President Joe Biden (D) vetoed that legislation. Congressman Barr introduced the new bill in…
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U.S. weekly unemployment insurance claims unchanged at 264,000
New applications for U.S. unemployment insurance benefits for the week ending June 17 were unchanged from the previous week’s revised number at 264,000. The four-week moving average as of June 17 increased 8,500 from the previous week’s revised number to 255,750. The average is the highest since November 13, 2021. The number of continuing unemployment…
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North Carolina governor vetoes state bill opposing ESG
Gov. Roy Cooper, a Democrat and ESG supporter, on June 23 vetoed a bill banning the use of ESG in state investments. The bill previously passed the state House on May 3 and the state Senate on June 13. The bill now heads back to the legislature, which is expected to have the votes to…
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U.S. weekly unemployment insurance claims unchanged at 262,000
New applications for U.S. unemployment insurance benefits for the week ending June 10 were unchanged from the previous week’s revised number at 262,000. The four-week moving average as of June 10 increased 9,250 from the previous week’s revised number to 246,750. The average is the highest since November 20, 2021. The number of continuing unemployment…
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Biden administration seeks to dismiss lawsuit challenging ESG retirement plan rule
The Biden administration on June 5 moved to dismiss a lawsuit brought against it by states challenging a Department of Labor rule on the use of ESG factors in investment-related decisions for retirement funds governed by the Employee Retirement Income Security Act of 1974 (ERISA). The states filed suit earlier this year, arguing that the…