discussion item: annual esg update. has it been a year andrew? >> it's definitely. >> perhaps on the team is setting up i can lead to a few remarks and the items following. what i really want to convey to the board the team you have before you and frankly the broader organization has a forward thinking approach to the annual esg the issue that complicated context top the team has a robust framework that encompasses investment manager monitoring and broader partnerships that is a process that enables us to have good practices around risk and the materiality of those risks it as fiduciary duty so the other point i'd like to convey it is not a point in time experience we incorporate when we look to hire managers and the mandate is funded we continue to monitor like we monitor the investment risks and monitor with the annual esg risks and have a process to continue to evaluate and engage in necessary so with that, i'm going to turn it over to kurt. >> thank you. >> good afternoon, commissioners as noted this is the update of annual esg update so i'll

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and recognize financially. >> i'm glad you mentioned esg in terms of the budget priorities you have clips coming up january 19 government funding, january 2 government funding, march 8 faa authority, april 301% across-the-board sequester cut to dispense discretionary spending. i want to get back to what you said tennessee attorney general is suing blackrock accusing the financial asset manager appreciate consumer protection laws by making misleading statements of the esg environmental social and government strategy blackrock is rejecting the lawsuit to fox business is that they fully and accurately disclose investment practices. what do you want to see here. >> i would like to see justice they put their will order policy esg environment social government and then prioritize the climate change agenda over the well-being tennesseans, that is a fraud you have intelligentsia that serve on the board and the dictating what the investments are in over the wishes and the concerns of the consumer so there literally ripping us off to support their woke agenda. maria: were to be wanted out of

i'm concerned about esg, concerns of climate change in everything. that will make these things expensive if they are pricing in these things that very well may not happen. that is new from 20 or 30 years ago. >> i heard rumors that probably are not rumors, that biden wants to pass the red flag law. i understand the premise behind it. i understand it can be revenge. my biggest concern is military veterans who have claimed ptsd, which is a very real thing, not red flag law would make them criminals and not able to own guns. what can be done about that? veterans don't deserve that. just because they have ptsd doesn't mean they can't own a gun. they are not going to shoot people. >> i don't think post-traumatic stress should be a disqualifier. here's the thing -- and i think matt mentioned it. donald trump said his policy on guns was he wanted to take the guns first, go through due process later. that is not constitutional to do that. it is not even necessarily about a second amendment. it implicates that. but governments cannot take your tv without due

i'm concerned about esg, concerns of climate change in everything. that will make these things expensive if they are pricing in these things that very well may not happen. that is new from 20 or 30 years ago. >> i heard rumors that probably are not rumors, that biden wants to pass the red flag law. i understand the premise behind it. i understand it can be revenge. my biggest concern is military veterans who have claimed ptsd, which is a very real thing, not red flag law would make them criminals and not able to own guns. what can be done about that? veterans don't deserve that. just because they have ptsd doesn't mean they can't own a gun. they are not going to shoot people. >> i don't think post-traumatic stress should be a disqualifier. here's the thing -- and i think matt mentioned it. donald trump said his policy on guns was he wanted to take the guns first, go through due process later. that is not constitutional to do that. it is not even necessarily about a second amendment. it implicates that. but governments cannot take your tv without due

why did esg take off so much? wall street is a selling machine. it sold esg.e 34 times higher fees than regular funds so all the guys i talked to are all about selling stuff. if you had to sell a product you don't want to say buy my product and watch it go down in price. wall street when we see them. neil: talking book. charles: they are either talking about or they are trained to talk a book. it is part -- the optimism is in their dna. neil: i thank you, the bull thanks you. neil: don't think that i was in this. for a few minutes. neil: charlie gasparino on that. i don't want to rain on the parade but a lot of rain will be hitting the east coast of the united states. that is what i do for a living. as an independent financial advisor, i stand by these promises. as a fiduciary, i promise to be the financial steward that you and your family need. i promise to put your long-term financial well-being above any short term transaction. everyone has a big picture. my job is to help you invest in yours. [announcer] charles schwab is proud to support the independent f

we also have a set of different esg products in different industries, whether for social projects, andhis can only be solved through out -of-the-box solutions, they are collected and... then you adapt a little to a specific task, we have 57 regions that have now signed an agreement with savings for the implementation of regional cg-projects and projects in the field of sustainable development. right now we are ready to help compile such a register. all year our correspondents visited russian regions, we ourselves became acquainted with interesting examples of the application of the same principles, and introduced them to our viewers. the container for receiving used items is called a fondomat; it can hold up to 700 bottles per day, which is 20 kg of plastic that will be recycled. over the course of 4 years, 200 such vending machines were installed in moscow and the region, collecting 18.5 million plastic bottles and 6 million cans. the plastic goes for recycling, flakes are made from it, well , they are called flex, a secondary green granule is made from them, or from them polyester fi

quantifying the change and reengaging in the energy transition >> are you seeing more appetite from esgestors to invest in heavy emissions companies that are trying to transition with the likes of the oil companies which esg investors have stayed away from, but could be pivotal in the dpgreen transitions ahea? >> definitely. if we look at the funds in europe with the framework when it was introduced in 2020 was found 20% underweight. we feel that is the sector and the european oil in the first time in over a decade has out performed. my guess is that trend will continue if we look at the ownership in the dpufl, dpufl gulf, it is rd there is a comeback on the traditional energy from the european investor. the key focus on transition and ownership of the companies that are trying to change toward the profitable and lower carbon future >> michele, thank you for joining us head of natural resources and research for goldman sachs >>> over in the crypto industry, asset managers applying for bitcoin etf is considering key technical details. reuters sitecites moves that the regulator will soon

esg became a bad word in 2023 or bad letters.k it is an opportunity to actually differentiate yourself side deal and pointing out sustainability is actually quite sustainable because it focuses on de-risking revenue growth and reducing costs. sonali: we will get back to the esg theme in a minute as well as valuations. there is another exit issue here, the ipo market. there is this grand hope that the ipo market will come back next year. what does it look like? anne: it is a scary number that in 2023 only 2% of exits were through ipo. if you think about it we are working off of a backlog of ipos people were contemplating as far back as 2020. i don't think it will be reality that the ipo market is going to be able to absorb and certainly not absorb the valuations people have in mind. we clearly are in the optimist camp. once we get to april and people have the financials to go ahead and test the ipo market you will clearly see more activity in the 2023. we need the ipo's to perform. there's been a lot of conversation that has been

a lot of ways esg and dei is really dividing the big and the small.g that, a lot of businesses should be dei and should be esg to begin with. they shouldn't have to market that in the first place. what i mean by that is, every company should try help socially governance, help the environment interest a dei perspective, every company should be inclusive and diverse. that's how you make a great business. you have different ideas and you're diverse. that's what makes a great business in the first place. i don't know why we have to market this, make a new department in the first place. every business should be like this. cheryl: 2k dei bothered me frm the beginning. it should be based on qualifications, education, who is the best person for the job, i don't care what color your skinnies, male, female, black, blue, red, purple. i don't care. companies, we've seen it with medical schools, think about the doctors that are out there. i want the best doctor. i don't need it to fit into some category. i think that's the frustration i had with corporations. the

flexible way and if you're interested in the environment and many companies are, it's very good for esg are carbon neutral as a company and that's iwg, and we can pass that on to our customers. so on the one hand, high demand for corporates, large and small. on the other hand, american investors and property, owners of property are also very focused now on providing hybrid work space as part of their offer. so we're expanding with them to create a platform across the u.s. and we have unprecedented demand from investors also to sort of come on to our platform. >> yeah. and that's what's been the growth here. >> my understanding is wework signed a lot of pricey leases and bankruptcy would help them get out and it might not solve the issue of them being more urban and suburban because even in town, i live in the suburbs and we had a serendipity work space that became your third base and even out here in what should be a strong market based on the fundamentals you described it sounds like there is a reset going with hybrid work space more broadly. >> look, let me address that. this is not a

they know they combine talent and develop it in ways that are not wasteful like dei and esg.ot just in the united states but all over the world in schools in the uk, not going to be required to use students preferred pronouns. lauren: let me give you this story lesions are uk they have these guidelines they just put out, a 4-month comment period. basically saying if your child shows up and by birth a boy but want to be called a girl's name, you have to tell the parent so it is parents first, parents involvement. if schools don't have to use those pronouns, based on biological sex. in the uk, they are returning to normalcy with how we should be treating our students. lauren: are we going there? david: are we pushing our policies as they are? >> we seem states like florida already do this. it is illegal against state law for teachers to keep things like this from parents. parents make the decisions on what their children are called in the school. we have a fresh lawsuit in michigan where this was hidden from parents. parents are suing the school system for using different prono

we took action in florida against esg. we banned the use of it.e're soly focused on return on investment. i think what we were able to do across the board has been the right thing to do. we want american businesses to focused on doing what they do best and not trying to change policy in this country. >> edward: governor, i want to get to iowa now. you have a large door-to-door network. what message are you trying to pull off to upset former president trump? >> well, i'm the guy that can get this done. just like we did in florida. winning a big victory. even more importantly, delivering on 100% of my promises. we need a president that will fight and a lot of republicans haven't been willing to do that. we ned a president that will win these big fights. i beat the left on issue after issue. we need somebody to lead this country in a different direction and get the job done. i have shown -- i've been more effective down here in florida than just about anybody in the country in modern memory. yet you're talking about the economy. in florida, i have pa

attorney general of tennessee going after black rock, he says the company misled consumers about how esgtheir investments. attorney general jonathan s strumeni joining the next. (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ teeth sensitivity is so common. it immediately feels like somebody's poking directly on the nerve. i recommend sensodyne. sensodyne toothpaste goes inside the tooth and calms the nerve down. and my patients say you know doc, it really works. i'll be home for christmas. you can count on me. please have snow and mistletoe. and presents under the tree right now, all over the country, kids at shriners hospitals for children® are able to go home and be with their families for the holidays. and it's only possible because of the monthly support of people just like you. thanks to a generous donor. every dollar you give can help twice as many kids like me and have double the impact. with your gift of just $19 a month, only $0.6

that has been a controversial issue in terms of esg and portfolio building.kerry addressing what that might look like. i thought the capex comment was important because that will be a big piece of the equation when you talk about the idea that after the war in ukraine one of the concerns from oil companies was whether they can invest in capex. i want to bring more interviews from the panel in dubai. bloomberg's francine is with us speaking with ray from bridgewater associates. >> those forces were the amounts of depth we are creating, governments particularly, and the money, someone to finance the debt. it is unprecedented other than 1930 through 1945. internal divisions, the largest wealth and values gaps. a populist is an individualist who will fight and win at all costs, not as a threat to the system. our politics is different than any time in my lifetime. third is geopolitical, great power conflict. 1945 we began the new world order and this always happens. you have a war, the winter set the rules. the united states had 90% of the world's money so the wor

small business companies, do not have such opportunities, if we want them to follow the path of the esg agenda, we must at least at the first stage give them this agenda, we also have a set of different products in different industries, for social projects, and this can only be solved through packaged solutions. they have been collected, then you adapt them a little for a specific task, we have 57 regions that have now signed an agreement with sber for implementation regional sg projects and projects in the field of sustainable development. right now we are ready to help compile such a register. all year , our correspondents visited russian regions, got acquainted with interesting examples of the application of the principles, and got acquainted with them. viewers, this container for receiving used items is called fandamat; it can hold up to 700 bottles per day, which is 20 kg of plastic that will be recycled. over 4 years, 200 such vending machines were installed in moscow and the region and 18.5 million plastic bottles and 6 million tin cans. the plastic goes for recycling, flakes are

and their actions around esg i think it's actually very, very interesting.y about this, they've thought deeply about esg they are trying to stay away from t politics and be more business-focused and busy based in the decisions that they're it's actually, to me, a refreshing sign. >> but on -- i'm just reading from some of the findings, the word "split," that u.s. ceos actually split, half continue org ing or accelerating while over a third are not retrenching, but re-evaluating. what does that even mean >> 25% or so said that they have to step back and look at everything from the program to how they communicate about the program and the rethinking in some cases is increasing their activities in other cases, it's modifying their activities the strong signal, though, that this is something that most busi businesses believe is core to their futures and core to engaging as many constituents as they possibly can. they have to be careful. >> if you're in college, maybe you should switch from french renaissance poetry to some technology skills, would that be a good

it related to this investigation of antitrust at esg. neither companies have gotten a subpoena.o control the house. back to you guys. >> emily, what -- can you explain what is at the heart of the antitrust allegation when it comes to the esg policy and/or focus of these asset managers? >> so part of it is that a lot of these asset managers have gotten together in various groups with goals to really be able to reduce carbon emissions and what jordan is making the case for is saying look, these groups get together and try to implement these policies but this is hurting sectors like oil and gas and how they're acting might be in a way that violates some of the antitrust laws. so that's kind of where this investigation entirely circles around. there have been other cases made, certainly house republicans are not the only ones that have tried to equate esg pushes with antitrust. we'll see where this goes, carl, as far as whether they are really able to make that case. >> all right. certainly making -- taking a stand. thank you very much. emily wilkins in washington. >>> make or break

you can, axel immediately had another esg could go so, but not to give you an in mine. each bag is fine. we always do an e, c, g here and all that is absolutely standard or mandatory on there. we always do blood tests use in 5 and you're not cardiology practice. we always do an ultrasound to kind of, it has some, no side effects is relatively quick to do. i have to pick a new level. heartfelt defect, for example, does most definitive, almost control since i but the results from elaine, a name i as e. c. g ultrasound and blood test revealed no explanation for hot palpitations. during that consultation, the cardiologist then try to narrow down possible causes. this 1st involves ruling out any red flags, important warning signs for dots of goods. and this includes, for example, whether there been any sudden cardiac jets in the family. so cardiac arrest, such as the only blood relatives of course you and i always ask if there isn't any cases of fainting unexplained false and try to not care to strips a gift. none of thoughts apply to elaina nee, my i the and so you. ok, so

. >> she wrote a book talking about esg and these conferences and black rock, the idea that i want to do that in florida, they were managing our pensions and i took $2 billion away from black rock, esg, environment social governance, and nicki is meeting with these people and they want to impose a left-wing agenda on this country, they want to change society with out having to do it with the constitutional process. we kneecapped it in florida and the next president of the united states needs to be able to go to that office on day one and end esg and we know from facts in history, nicki will cave to the big donors when it counties. >> nikki haley was heaping praise on me when i wrote that book but now i worry, i was worried about the woke industrial complex, and apparently she wrote it as a how to manual like george or well. and that's far more dangerous for people to understand. we're marching toward fascism under biden and jack smith has subpoenaed every last tweet that has been issued from donald trump in 2020. the only person more fascist than the biden regime now is nikki haley, w

the republican—led state accuses blackrock of downplaying the role of esg in its investment strategiess to pay up $700 million and allow for greater compeition in its app interface, known as the play store. google has been accused of overcharging consumers through unlawful restrictions on the distribution of apps on android devices and unnecessary fees for in—app transactions. but it has not admitted wrongdoing. now to japan, where its central bank has kept the cost of borrowing on hold at minus 0.1%. japan continues to face the challenges of deflation but now analysts are starting to see a change and are now talking about the worlds number three economy emerging from three decades of economic stagnation. so what has changed? let's cross live now to japan and join sayuri shirai, professor of economics at keio university and a former policy board member of the bank ofjapan. a warm welcome to the programme. i noted thatjapan�*s economy minister apparently attended today's bank of japan meeting first time since 2020. why was he there, do you think? well, out of the people that are not hap

i'd been sold to the marketing campaigns when he was best friends with tom brady and gisele was her esgdvisor. those clearly organic friendship there. it was absurd i was living in absurd you reference the w emperor's new clothes which is a story i used. i was reading my daughter this story before i decided to go down this wild journey. it is because i saw myself as the child in that story. i am the one going he is naked and everyone else is going shush opthat everyone else mean the people in this room but if the wemedia distort wasn't been toli found the power of the media on the power to build sam up it was insane. devoted to that interview is the emperor is naked. that gives you an idea. are any of them geniuses? next i don't think any of them are geniuses either. i think they are all very sure that they know where the world is going. psychologists have this notion of a logical control from people like these four and sam have its note as an internal logical control they believe they are in control thehe world. and they can make things happen. where as thanks to their genius of creati

>> reporter: what this does is it breaks down different esg issues into manageable categories that companies on a more granular basis and see what people care about and see where they should be allocating resources. one thing that just capital learned is measurement and transparency is important. the survey has been conducted for years and they have a bulk of data showing that consumers want companies to publish stats and demographic characteristics and then be transparent about where they can be better and where they are trying to make impro improvements. fr frank, they found employee training and retention is what consumers want to see companies invest in the work force. >> pippa with the report from just capital. thank you. >>> time for the morning call sheet. bank of america downgrading ubs from neutral to overweight. calling out the credit suisse acquisition. it sees a lot of heavy lifting still ahead for ubs and cutting the eps estimate by 32%. it remains dconvinced benefits f the acquisition. >>> and ubs is expecting earnings to grow in 2024 and in 2025, but with the stock trading at

because on sustainability, esg or diversity, there are really important areas to ensure a long—term prospect you have to dig outside the box so these are long—term investments, alongside with r&d intensity, but most importantly we are also looking at near term financial results as well. it is a balanced assessment. pfizer, big pharma, they have been warning about the year ahead but you're saying it is ready? ahead but you're saying it is read ? ~ , ahead but you're saying it is ready? absolutely. from balanced _ ready? absolutely. from balanced assessment, i ready? absolutely. from i balanced assessment, you ready? absolutely. from - balanced assessment, you have got to have a more holistic approach. near—term financial pressure is not unique to any major company but if you combine with looking at the pipelines, the r&d intensity and new product innovation particularly around disease prevention and diagnostic and personalised treatment, all in all we see pfizer emerge as a very strong candidate going forward, alongside with astrazeneca.— forward, alongside with astrazeneca. �* , , , astrazen

she will cave to the donors she will not stand up for you larry fink king of woke industrial complex esg movement ceo of blackrock powerful company in the world supporting nikki haley, to say that doesn't affect her of is false. >> in terms of donors they are jealous they wish they were supporting them. >> we spoke to students at watch party on university of alabama campus as candidates try to win over young voters, from the students we heard mixed opinions. >> as first generation college first generation american favor a lot of nikki haley ideas in term of sfliemgs i think donald trump. >> who stood out. >> honestly chris christie. >> have you surprised he is saying that. maria: i am very surprised he is saying that. >> in washington, republicans in the senate voted wednesday to block a 110-billion-dollar spending package, with aid for ukraine, israel taiwan any bill with more money for ukraine should include money and resources to secure the southern border, immigration ukraine israel taiwan all those issues that came up on the debate stage last night. maria: absolutely grady, thank yo

esg advisor and it was it because that was clearly organic friendship there it was. it was absurd.s in an absurd. you referenced the emperor's new clothes, which is the story that i use. i was reading my daughter, the story i decided to go down this this wild journey and was because i saw myself as the child in that story. i'm the one going these naked and everyone else is going naked as is not everyone else. meaning the people in this room. i bet a lot of folks saw something similar, but in the media, if the story wasn't being told and i thought found the power of the and the power to build sam really, it was just insane anyway, the title of the chapter devoted to that interview was the emperor's badass naked. so that gives you a good idea. jonathan, do you want to talk about the or any of them? yes. i mean, i don't think any of them geniuses either. i mean, i think all very sure that they know where the world going. and you psychologists have this notion, kind of logic of control and and people like these for and sam have what's known as an internal logic for control and others t

the chief fx strategist from esg. >>> i'll take you to corporate news starting with the stocky i knoell ubs. activist investors cevian financial has taken a 1.2 billion euro position in ubs representing a 1.3% stake in the swiss lender the cevian co-founder can double the valuation in the next three-to-five years. it can average the european bank it has been a major focus for the ceo of the last couple years, even before the integration of credit suisse >>> adnoc is looking to raise covestro bid with the shares per offer will make the chemicals maker an 11.3 billion euro the stock is up 2.5% on that news and speculation this deal may be going ahead. >>> elsewhere, bayer's monsanto is ordered to pay $857 million after the claims of the chemicals leaked from light fixtures and made students sick. the company will move to have the verdict overturned or reduced. just another legal headache for bayer. this is an issue throughout the course of the year we spoken about it, julianna and myself, throughout "street s signs" on what to do to turn the ship around as it faces the mounting legal p

sold in the marketing campaign when he was best friends with tom brady indian giselle wasn't there esg advisor, and it was, it was, because it was clearly organic friendship there. it was, it was absurd. i was living in an absurd come you reference the emperor in the close which is a story i use. i was reading my daughter the story before i decide to go down thisne wild journey and it was because i saw myself as the child in that story, i'm the one going -- everyone else is going -- added one else, meaning the people ini his room, i bet a lt of folks saw something similar, but in the media the story wasn't being told and i thought the power of immediate power to build sam up really, it was just insane. anyway, the title of the chapter devoted to anyrv doors the emper is but aspects naked. that you a good idea. >> jonathan joy to talk about -- >> i don't think any of them are geniuses either. i mean, i think they are all very sure that you know where the world is going. psychologists have this notion of kind of logic of control, and people like these four and sam have what's known as an

or huge pools of esg money that has been set aside.n't highly specialized in taking political risk, or local fx or project-level risk at the development stage. in other markets, there has been quite a refined system, in some cases, of public sector catalytic type of support and others specialized private sector support, or insurance companies that have been set up to parcel out this risk and get complicated projects done. in a lot of the sustainable infrastructure space, especially given the pace of development, it is not fully vetted down yet, which is why you hear so much about blended finance and the roles that mbd's can play in providing a relatively small amount of linchpin capital that can unlock a transaction. which is why when i listen on this stage, there is nobody more committed to getting this right. and making the world bank an extremely effective contributor. but he has real constraints in terms of his charter. the world bank have their set of activities. the international development bank has done some fabulous and progre

this was a real boycott that in many ways spurred on the other side of the aisle a whole anti-esg, anti-wokenomy. and i think that that is something to watch in the next year is what have complains have ghave -- republicans have got if response to companies like bud light. >> jess, biggest loser. >> it is hard to pick just one. kevin mccarthy was a political loser in a pretty epic way. as a presidential today, ron da desantis has probably taken the hardest fall. but i'll go with a write-in and say i think the biggest political loser is the republicans primarily the donor class who wanted to stop former president trump's march to the are republican nomination. they failed to find a message that worked or to coalesce around an alternative. and we're heading towards the iowa caucuses in a few weeks with the former president miles ahead of the competition. >> very good point. joey jackson, biggest loser 2023. >> i have to go with two that hit close to home for me. george santos being my former congressman, how he got elected in the first instance is perplexing. but i guess if you make up stories

they want to get out of energy for esg reasons. build a big company, i will need access to capital. if there is no access to capital or limited access in energy, it's not for me. kailey: so clearly, you took a lot of time deciding what industry you are going to focus on and now that you have, how much time you planning to take before making that first deal? when should we expect it to happen? >> we have to close the billion-dollar pipe we are putting into silver son which should happen the next several months and then we will spin that company back to his legacy shareholders and they will have a less than one half percent ownership in the new company. the new company will be $1 billion cash rich with no debt and be publicly traded and the ticker symbol will be qxo which is the name of the new company. then we will do a significant amount of acquisition activity and we will be off to the races after that. guy: how quickly can you do that? what's the timeframe? what are the milestones you're looking at? >> i expect to be at least $1

spectrum and there's a secular trend here and demand has been strong and supply is constrained and the esg phenomenon isn't going away for now and can we put that all together and there's a tail wednesday that's likely to stay in place and i want to jump in on this and what kevin was talking about and i want to push back on this idea and what kevin said but not directly, there's an insinuation of a difference between treasuries yielding 4 or 5% and tech stocks let's say and that's not really the case. if you have cash in your portfolio or older investor, that's not at all what we do as a hedge fund and older investor, you should not have any cash and should be in treasuries one week, one month, one year, whatever it might be. i don't know that 4% is a particularly threatening level of yield for the average equity investor. if you're investing or long term or short term, you're looking for returns in upper single digits at least if not the low double digits and yes, 4, 5% on the screen now and that's 5.3% at annualized rate of three months and not going to get you solid retirement or good r

scheme they said we have a di department we could market that and make them more money and same with esg's not making the blackrock of the world more money. this is a problem with america today's world everything is narrative driven and when it's not narrative is hypocritical. cheryl: how does the company make money off of di. it's virtue signaling. >> once they say i have di and being inclusive, it opens you up to awoke crowd that is backing to the crowd that heard in talladega making them more money in the end. >> you might be attracted not gen z in bringing them saying i want to be the right corporation. >> you have to go both. >> of this generation i think a good have to wake up and realize it is a job you are paid to be here. so be grateful for that. anyway. we have a lot more coming up. the 2024 race is shaking out more states are ramping up their efforts to remove former president trump from the ballot, that is a hot topic of the hour, coming up next you're watching the special edition of "mornings with maria" live on fox business. ♪ why choose a sleep number smart bed? because no

. >> larry fink, the king of the esg movement, the ceo black rock, most powerful company in the worldnikki haley and to say that doesn't affect her is >> reporter: haley fired back saying ramaswamy and desantis are just jealous that they don't have those wealthy donors support. she says they wish they had it and that is why they attacked her. stuart: pretty good response and now presidential candidate nikki haley joins me now. welcome back to the program, good to see you this morning. you clearly had a target on your back last night but you seem to like it. >> i think it's great. when you start getting attacked to that means you are searching and we know that. we see it in the polls in iowa, new hampshire and south carolina. people relate to the fact the we need an accountant in the white house, the fact that the economy is out of control, there is lawlessness on the border, we need to get our kids reading again and we've got wars around the world and they want to stop the chaos and want to some civility and that's what we want to bring, to make sure we get a new generational leader t

for the last 10 years, we saw esg funds taking in inflows and this is the first year we will see outflowshem closed down -- and 14 of them closed down. guy: themes come and go so isn't this exactly what you would expect to happen? maybe there is an element of truth if you described these as gimmicky. isn't that what these are designed to do? >> quite a bit but as the etf market gets larger, we are seeing issuers come out with more and more products. not only was this the second biggest year for closures but it was the most launches we have ever seen on record. i think it underscores the issuance can come out with a fund and a theme and it can fit the market at that time, but if they can't attract assets, they will likely have to shut down. i've heard a number of different asset sizes. i ask how big does the etf had to be to exist for the long-term? some people have said 50 million and some have said 200 million. that's the minimum size in order to be accepted and be able to trade for longer than just a couple of years. sonali: these are big retail themes. it was the retail investor left h

esg trends have reversed. president biden pushing congress to fork over one hundred billion dollars saying the world is watching, it's the same or world that would endorse stripmining, increase pollution, it would harm the world. we are doing is exporting the things we don't want to do to our kids. are the kids in africa anymore important? are the kids in china any more important? 's claim and coming to you. liz: i went to public school and are driving ev. charles: doesn't tell. how much are you earning? i bet you're earning more than the average black person. liz: the price needs to come down. charles: we need freedom. if you -- 30% of the cars could be gas powered cars none can be. it is not fair to americans. liz: i got to give you a ride in mine. charles: still limping from that, that's all i am asking, come in large. liz: got to work on that. thank you very much. look at this market action or in action as we kick off the final hour of trade. not much movement most of the session, the dow is down one point

diy, esg, all that kind of stuff. you know, all very real and important and connects me to the future that these kids are going to inhabit. and i like to point out my two millennials and my four gen zs a lot of the things i'm going to describe here tonight. they've been living in that world for the last 20, 25 years. and i want to explain any of it to them, they have to explain to me on a regular basis, you know, not to use certain terms and not to make certain expressions and not to use certain descriptors. but they don't have to think or process this whatsoever because. it's a very real world to them. and i try to remember them whenever we're and doing this kind of thinking, you know, these the people who are going to step forward. what i'm going to describe here is a zone of turbulence between now and say roughly 2070, 2080, where these three structural changes, climate change, demographic collapse and the emergence and the demands of a global middle class are all going to intersect. any one of those three things w

diy, esg, all that kind of stuff. you know, all very real and important and connects me to the future that these kids are going to inhabit. and i like to point out my two millennials and my four gen zs a lot of the things i'm going to describe here tonight. they've been living in that world for the last 20, 25 years. and i want to explain any of it to them, they have to explain to me on a regular basis, you know, not to use certain terms and not to make certain expressions and not to use certain descriptors. but they don't have to think or process this whatsoever because. it's a very real world to them. and i try to remember them whenever we're and doing this kind of thinking, you know, these the people who are going to step forward. what i'm going to describe here is a zone of turbulence between now and say roughly 2070, 2080, where these three structural changes, climate change, demographic collapse and the emergence and the demands of a global middle class are all going to intersect. any one of those three things w

. >> and esg scores and all that stuff. earlier this year, i am happy that all a of the depositors were made whole. they went above their 250 you 250,000maximum and made deposits whole. i'm glad nobody stepped in to save the banks. maria: silicon valley glangs specifically silicon valley blank, they failed because not only interest rate risk but because of moral hazard. they had people knowingly doing things not the best interest of the company. they had hedges against interest rate risk the year before and they made the conscious decision to remove those hedges. maria: great point. meanwhile, rates have plu plummd in treasuries. take a look at the 10 year ahead of the fed's monetary policy hearing, we're talking about a yield on did 10 year of 4.415%, weup to 5% a couple weeks ago. maybe that's one reason november had a huge market performance. european central bank officials say are considering rate cuts in 2024, not in time for the policy t meeting next week. jay. >>> you've been covering this, you've got the ecb meeting

. >> reporter: outside of those higher capital rules, conversations involving esg senator j.d.nk of america ceo brian moynihan. senator vance said many of the banked, quote, jumped into a culture war" and he pushed bofa on financing a certain coal mining to which moynihan responded the decision he made was to not continue funding specifically those that take the top mountains and turn them into mines. it's been a pretty friendly back and forth so far although we have a ways to go. >> all right, leslie. we'll be back to you with more. >>> up next, google releasing its challenger to chatgpt 4. the details after the break. when you're wearing the world's coziest slippers, your comfort zone can be just about, anywhere. step into your comfort zone with olukai. the power goes out and we still have wifi to do our homework. and that's a good thing? great in my book! who are you? no power? no problem. introducing storm-ready wifi. now you can stay reliably connected through power outages with unlimited cellular data and up to 4 hours of battery back-up to keep you online. only from xfin

look, i think the esg kind of movement really moved a lot of capital away from oil and gas and fossilhink we are all coming to the conclusion that the decarbonization of the world is going to happen, but it's along the way of. 15, 20, maybe 30 years. in the meantime, people are going to go for the cheapest source of fuel. i think over the next 20 to 30 years, a lot of the major energy distributors today will be shifting with the market away from fossil fuels to other alternative, lower carbon, fuels. regardless, they will be the same companies. they are in the district -- business of distributing power. they are the best in the world added. and they have excellent access to court low-cost feels. plus, my favorite, tyler, exxon is cheap. right? it's trading as if it's profits were about to decline 30%. we like that. >> david, appreciate your analysis today. thanks. david trainer. >>> coming up, the nearshoring but. companies are investing billions in the new manufacturing capacity in mexico. that also means billionths not being invested in china. we will get a live report from south of

esg reporting requirements maybe being the broadest. he's had a whole list of things where he's been very assertive of the power of the chairmanship, and he's not staying within the bounds of the law. so i think he should be removed as the chairman. and p frankly, i've introduced a bill called the sec stabilization act that would structurally eliminate the chairmanship and have six commissioners, three republicans, three democrats, because that finish we already have the world's best capital markets. why politicize something that is so strong for us? and gary against canler kind of highlights that we don't just have a gary gensler problem, we have a problem with the structure of the sec. cheryl: real quick before you run, you're worried about the central bank and digital currency. could you comment on that real fast before you go? >> yeah, thank you. look, i think this is a corruption of money. money's supposed to be a stable store of value to point on inflation and an efficient means of exchange. central bank digital currency consolida

esg trends have reversed. over one hundred billion dollars saying the world is watching, it's the same or world that would endorse stripmining, increase pollution, it would harm the world. we are doing is exporting the things we don't want to do to our kids. are the kids in africa anymore important? are the kids in china any more important? 's claim and coming to you. liz: i went to public school and are driving ev. ch