REUTERS: Index funds now control half https://tmsnrt.rs/2Mhmc6L the U.S. stock mutual fund market, giving the biggest funds enormous power to influence decisions and demand better returns at the companies in which they invest trillions of dollars.But the leading U.S. index fund firms, BlackRock Inc, Vanguard Group and State Street Corp, rarely use that clout. Instead, they overwhelmingly support the decisions and pay packages of executives at the companies in their portfolios, including the worst performers, according to a Reuters analysis of their shareholder-voting records.The three fund firms, for instance, supported doubling the pay of the chief executive at California utility PG&E Corp after its stock plummeted over potential liability from maintenance problems linked to California wildfires. The funds supported big pay packages for executives at beauty products company Coty Inc - including nearly US$500,000 for their children’s tuition - as the company struggled to … [Read more...] about Index funds invest trillions but rarely challenge management
How data centers make money
As we worriedly watch our children navigate the ever-changing digital landscape, there’s a great deal of talk these days about “digital addiction”. But several experts say we should teach kids to think of screens as something to handle in moderation, like food, rather than something without any healthy place in our lives, like meth or heroin.Children’s use of devices ranges along a continuum from healthy to compulsive to addictive, said Dr Dimitri A Christakis, the director of the Center for Child Health, Behaviour and Development at Seattle Children’s Research Institute and professor of pediatrics at the University of Washington. “I think the phenomenon of tech addiction is quite real,” he said.In a commentary published last week in JAMA, Christakis suggested that the relationship between media exposure and health in adolescents might turn out to follow an “inverted U” pattern, that is, that very high exposure and very low exposure … [Read more...] about Is ‘digital addiction’ a real threat to kids?
By Jack Ewing The New York Times Milan Schreuer Mon., May 6, 2019 On a breezy day in September, an ominous text message appeared on Fredrik Ekstrom’s phone: Go immediately to the war room. Ekstrom is chairman of Nasdaq Clearing, an outpost of the U.S. stock exchange company in Stockholm, which processes futures trading and acts, in part, as a shield against contagious losses in the global financial system. He headed toward an ordinary conference room outfitted with extra phones, video hookups, data terminals and policy manuals, designed to be a command center in case of a financial crisis. Until then, the war room had been used only for drills. Other senior executives were waiting when he arrived. They described an unfolding disaster. A trader named Einar Aas was having a spectacularly bad day. Ekstrom knew the name. Aas worked from his seaside home in a remote Norwegian fishing village, trading futures contracts tied to the price of Scandinavian … [Read more...] about How a lone Norwegian trader shook the world’s financial system
MANILA, Philippines — The National Bureau of Investigation (NBI) has filed charges against the alleged administrator of a website where the “Ang Totoong Narcolist” videos – which implicated President Duterte’s relatives in the illegal drug trade – were first shared, Justice Secretary Menardo Guevarra said yesterday. The NBI’s Cybercrime Division (CCD) filed charges of inciting to sedition in relation to Section 6 of Republic Act 10175 or the Cybercrime Prevention Act of 2012, against Rodel Jayme, creator of metrobalita.net where the YouTube link of “Ang Totoong Narcolist” was reportedly first posted. metrobalita.net was found yesterday filled with Japanese characters. In his Twitter account, Jayme is described as a blogger, gamer, licensed amateur radio operator. NBI agents arrested Jayme at his residence in Parañaque City last April 30. “Jayme was arrested by the NBI-CCD who would present him for inquest at the … [Read more...] about NBI files raps vs man who shared ‘Bikoy’ videos
MANILA -- Whether you clock in 8 hours, or 10, 12, 14, even gasp, 16 hours every day, you deserve a break on May 1. And since most Filipinos have the day off as Labor Day is a national holiday, why not take the time to do 5 simple things to check on your financial health. Yes, this may sound like a damper on your holiday plans, but there is real urgency behind this. The unemployment rate is inching up and latest data shows its at 5.2 percent as of January 2019. Meanwhile, the population continues to rise and is targeted to go from the 104.92 million recorded in December 2017 to 120 million in 5 years or by 2024. The peso is still weak next to the US dollar, but inflation has finally fallen within government targets of no more than 4 percent range. However, if your money sits in a savings account and the bank pays you a 0.02 percent interest, you don’t need to be a Math genius to know you are losing out. And then there’s the public sentiment that it’s getting harder to … [Read more...] about News This Labor Day, Make Your Money Work Harder For You