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West Virginia added four financial firms on Monday to a list of institutions that may be barred from some state business because the state's treasurer deems they are boycotting the fossil fuel...
NEW YORK (Reuters) -West Virginia has added Citi, HSBC and two other financial firms to a list of institutions that may be barred from some state business due to their energy finance policies, prompting three of them to assert their commitment to that industry. The move was the latest flare-up in a bubbling dispute between Republican officials and Wall Street firms over use of environmental, social and governance (ESG) factors in banking and business. West Virginia, a major energy-producing state, created the list in 2002, placing five firms on it at the time.
Shares of Northern Trust Corp fell by more than 9% to their lowest level in nearly a month on Tuesday after the custodian and asset manager forecast a bigger-than-expected drop in net interest income ...
Shares of Northern Trust Corp fell by more than 9% to their lowest level in nearly a month on Tuesday after the custodian and asset manager forecast a bigger-than-expected drop in net interest income (NII) in the third quarter. Northern Trust's NII, the difference between what it makes on loans and pays out on deposits, is likely to fall by as much as 10% this quarter, Chief Financial Officer Jason Tyler told the Barclays financial conference on Tuesday. Like many financial institutions in the current high interest rate environment, Northern Trust is confronting growing financing costs ...
A local MLA has highlighted recent poor performance.