Oregon’s state employee retirement fund is coming under increased scrutiny as the U.S. state is facing increased calls for divestment from companies that have environmental, social and governance issues. Oregon residents are increasingly pushing for the state to divest from fossil fuel companies and other controversial investments, but the state treasury is resisting and putting […]
Ohio’s largest public employee pension fund is suing Facebook — now known as Meta — alleging that it broke U.S. federal securities law by purposely misleading the public about the negative effects of its social platforms and the algorithms that run them. The lawsuit by the Ohio Public Employees Retirement System specifically claims that Facebook buried inconvenient findings […]
Norway’s largest pension fund is divesting from 14 companies involved in producing nuclear missiles and other weapons. Oslo-based KLP, which manages more than 300 billion kroner (US$35.4 billion), said it made the decision after reviewing companies that may violate its guidelines on weapons. “Those excluded are mainly companies that directly or indirectly contribute to the continuing […]
United Airlines says more than 97 per cent of its U.S.-based employees are fully vaccinated against the coronavirus now that there’s less than a week before a deadline to get the shots or get fired. The Chicago-based airline said Wednesday that the new figure doesn’t include a “small number” of employees who are seeking a medical or […]
A court in Amsterdam ruled Sept. 13 that Uber drivers fall under the Dutch taxi drivers’ collective labour agreement — meaning they’re entitled to the same employment benefits as taxi drivers. Uber said it would appeal the ruling. The Amsterdam civil court said in a statement that three judges ruled the legal relationship between Uber and its drivers “conforms to all […]
Delta Air Lines will charge employees on its company health plan US$200 a month if they fail to get vaccinated against the coronavirus, a policy the airline’s top executive says is necessary because the average hospital stay for the virus costs the airline $40,000. Chief executive officer Ed Bastian said all employees who’ve been hospitalized […]
A judge is striking down a California ballot measure that exempted Uber and other app-based ride-hailing and delivery services from a state law requiring drivers to be classified as employees eligible for benefits and job protections. On Aug. 20, Alameda County Superior Court Judge Frank Roesch ruled that Proposition 22 was unconstitutional. Voters approved the measure […]
U.S. President Joe Biden’s administration is suing to block the merger of two of the world’s largest insurance brokers, asserting the deal could eliminate competition, raise prices and hamper innovation for American businesses, employers and unions that use the companies’ services. On Wednesday, the U.S. Department of Justice announced the antitrust suit filed in federal […]
Amazon.com Inc. is allowing its corporate and technology employees to continue working remotely, even after the coronavirus pandemic restrictions start to lift soon across the U.S. The retail giant said those employees can work remotely two days a week and three days days in the office. In addition, they can work remotely from a domestic […]
As Exxon Mobil Corp. shareholders continue their bid to force the oil giant to deal more aggressively with climate change, several large U.S. institutional investors are backing a slate of alternative directors. The company announced Wednesday that three candidates nominated by a dissident group of shareholders, called Engine No. 1, had been elected to its board […]