By Ross Kerber
Dec 18 (Reuters) - No business makes all its customers happy all the time. But the bigger the company, the harder that task. My column this week, linked below, shows how BlackRock has become a case study in this challenge.
This week I have also included links to stories about a possible tie-up between Honda and Nissan , and rising sales for some fun sectors of the U.S. economy: sporting goods and musical instruments.
Finally: This will be my last newsletter of 2024, as we put them on pause until after the start of next year. See you on Jan. 8, 2025. Until then you can follow me on LinkedIn and/or Bluesky. Or get me via
BlackRock's global client balancing act, from Indianapolis to Tokyo We already knew that BlackRock's global customer base brings it conflicting pressures from clients, but developments in the past week drive home the point.
How well BlackRock manages the clashing wishes of the people who own the $11.5 trillion it runs will be key for its long-term outlook as investing becomes a flashpoint in the culture wars.
You can read more in my column this week by clicking here.
Company News President-elect Donald Trump filed a lawsuit against the Des Moines Register newspaper and its former top pollster over a poll published on Nov. 2 that showed him trailing in Iowa. The lawsuit came just days after he settled a defamation case with ABC News, efforts seen as potentially chilling news coverage of the incoming administration.
Talks between Honda and Nissan could deepen ties between the two Japanese carmakers, including a possible merger that would create the world's third-largest auto group. The cooperation shows how Japan's once-dominant auto industry faces challenges from Tesla and Chinese rivals.
U.S. retail sales rose more than expected in November as households bought more cars and online merchandise despite a late Thanksgiving holiday that pushed Cyber Monday into December. Receipts at sporting goods, hobby, musical instrument and book stores increased 0.9%, a report from the U.S. Commerce Department's Census Bureau showed.
On my radar A U.S. appeals court tossed out a Nasdaq rule that had required companies to have at least one woman, racial minority or LGBTQ person on their boards or explain why they do not, finding it ran afoul of federal securities law. The decision was a win for opponents of corporate diversity policies.
The issuance of 'sustainable finance' products including loans and green bonds came in at $385 billion in the third quarter, according to the latest ING Sustainable Finance Pulse report. The level was higher than the same period a year ago, when it was $297 billion, but below its recent high of $439 billion in the first quarter of 2024, ING said.
At its annual meeting last week, Microsoft faced three resolutions dealing with artificial intelligence, the most popular of which won support from 36% of votes cast. That would be enough to get many boards to take notice. A Microsoft representative declined to comment on how it might respond to the resolution calling on it to report on the risks it could face from improper use of external data in developing AI products.
The result was one of the highest obtained by resolution sponsor National Legal and Policy Center. Luke Perlot, associate director of the group's Corporate Integrity Project, said it plans to press similar measures at other tech giants including Apple, Alphabet and Meta Platforms.
(Reporting by Ross Kerber in Boston; Editing by Matthew Lewis)
((ross.kerber@thomsonreuters.com; (617) 412 0093;))
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