ESG ratings, which are meant to guide investors toward ethical companies, are being manipulated by tobacco companies. Tobacco companies are scoring higher in ESG ratings than companies like Tesla, which is known for its commitment to sustainability and ethical practices. This is due to tobacco companies’ efforts to downplay the negative impact of their products on public health and the environment. This manipulation of ESG ratings is problematic because it undermines the purpose of these ratings and makes it more difficult for investors to make informed decisions about where to allocate their resources.
Remote work has become a popular perk in the tech sector, with companies such as Airbnb and Yelp offering their employees the freedom to work from anywhere. The article explores the benefits and drawbacks of remote work, including increased flexibility and reduced commuting time, but also the potential for social isolation and a lack of work-life balance.
A new cryptocurrency exchange called EDX Markets has started operations, and it is backed by major financial companies such as Citadel Securities, Fidelity Investments, and Charles Schwab. The exchange was created to provide institutional investors with a secure and regulated platform to trade digital assets. The launch of EDX Markets highlights the growing interest in cryptocurrencies among traditional financial institutions, and it is expected to bring more liquidity to the crypto market.
China’s new super-regulator, which has been established to tackle rampant corruption in the country’s financial industry is tasked with overseeing banking, securities, and insurance sectors, and it has the power to enforce regulations and impose penalties on institutions and individuals that violate the rules. The establishment of the super-regulator reflects the Chinese government’s commitment to cracking down on financial corruption and promoting the stability and credibility of the country’s financial industry.
Jayati Ghosh, the co-chair of an independent tax commission, argues that finding the money to solve global problems such as climate change, poverty, and inequality requires a rethinking of tax policies. Ghosh suggests that governments should focus on increasing tax rates on the wealthy and corporations, as well as cracking down on tax evasion and avoidance. According to her, tax policies should be designed with a view to promoting sustainable development and reducing environmental harm.
There’s a new controversy surrounding recent rules introduced by the Modi government that allow wilful defaulters to settle their loans with lenders. The article explains that a wilful defaulter is a borrower who refuses to repay loans despite having the capacity to pay up. The Opposition has alleged that the new framework is an attempt by the Modi government to rehabilitate wilful defaulters. The article also reports that two of India’s largest bank employee unions have urged the central bank to review and withdraw its recent decision to allow compromise settlements with wilful defaulters. This move has sparked debate and criticism, with some arguing that it sets a dangerous precedent and undermines the integrity of the Indian banking system. The article highlights the need for transparency and accountability in the financial sector to ensure that borrowers and lenders are held responsible for their actions.