Norway’s $1 trillion sovereign wealth fund proposed dumping about $35 billion in oil and gas stocks, including Royal Dutch Shell Plc and Exxon Mobil Corp., to protect the economy of western Europe’s biggest petroleum producer.
The nation will be “less vulnerable” to a drop in oil by not being invested in stocks of companies in the industry, the Oslo-based fund said Thursday. The Finance Ministry said it would study the plan and decide at the earliest in “autumn 2018.” The Stoxx Europe 600 Oil and Gas index reversed gains after the announcement, sliding 0.4 percent as of 1:14 p.m. in London.
Continue reading Norway’s $1 Trillion Wealth Fund Wants Out of Oil and Gas Stocks
America’s biggest investment managers aren’t thrilled with the GOP tax bill.
Under a little-publicized provision of the bill, clients would be forced to sell their oldest shares first when cashing out of positions, according to a report from Laura Saunders of the Wall Street Journal. That would reduce flexibility in terms of minimizing taxes, something that investment firms fear could end up costing clients loads of money.
Continue reading America’s investing giants have a major problem with the GOP tax plan
Billionaire Bill Gates is personally investing $50 million to help fund research to find a treatment for Alzheimer’s disease, a type of dementia Gates says has struck members of his own family.
There is no cure for Alzheimer’s, which destroys memory and other mental processes, so Gates said he is investing his own money in the Dementia Discovery Fund, a private-public partnership to search for a solution.
Continue reading Bill Gates joins the fight against Alzheimer’s — and it’s personal
Since President Donald Trump was elected in November 2016, the stock market has been on a tear.
Over the weekend, Trump — who has repeatedly boasted about the stock market’s run during his time in office — said in Japan that “the reason [the U.S.] stock market has been so successful is because of me,” according to ABC’s Jonathan Karl.
Continue reading Trump’s post-election stock market rally is the 4th-best since 1936
Lorinc Meszaros is no ordinary mayor. He runs a village in Hungary. He also owns publishers, hotels, a nuclear engineering firm and a bank. His shopping list is believed to be written by Prime Minister Viktor Orban.