Tag Archives: BlackRock

Business of War Is Booming as Orders Surge at Top Global Arms Firms

“The order books of the world’s biggest defense companies are near record highs,” a new Financial Times analysis reveals.

By Brett Wilkins. Published 12-28-2023 by Common Dreams

*The event, which is held at the ExCeL London exhibition center, is the world’s largest defense and security event. Screenshot: YouTube*

Orders at many of the world’s biggest arms companies are “near record highs” due to rising geopolitical tensions in recent years, an analysis published Wednesday by Financial Times revealed.

The London-based newspaper analyzed the order books of the world’s 15 top arms makers and found their combined backlogs were $777.6 billion at the end of 2022—a 10% increase from 2020.

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Memo Exposes Renewable Energy Trade Group’s Close Ties to Fossil Fuel Industry

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“Despite its name, American Clean Power is yet another fossil fuel lobbying group trying to trick people into believing its greenwashing,” said one campaigner. “Any political leader who claims to care about the planet’s future should shun this organization.”

By Kenny Stancil. Published 4-20-2023 by Common Dreams

American Clean Power CEO Jason Grumet and Rep. John Curtis (R-UT) at Clean Power on the Hill on April 18 2023. Photo: American Clean Power/Twitter

The American Clean Power Association has been billed as “the nation’s top renewable energy trade group,” but lurking beneath its green luster is a dirty reality.

That’s according to the Revolving Door Project, which published a memo on Thursday to expose what is calls ACP’s “close ties to the fossil fuel industry and an ‘all of the above’ energy agenda that allows for massive new fossil fuel development and environmental damage, as long as clean energy also benefits.”

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‘Either Trade Unions Win This, or It Will Be the Far Right’: Labor Sees High Stakes in French Pension Fight

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A new poll shows that Marine Le Pen would beat French President Emmanuel Macron in a head-to-head rematch, making the left’s struggle against Macron’s pension attack a struggle for democracy in France.

By Kenny Stancil. Published 4-7–2023 by Common Dreams

A demonstration on the 11th day of nationwide strikes against the government’s proposal to raise the retirement age in Paris, France on April 6, 2023. Photo: Alexandros Michailidis/Twitter

As French workers intensify their fight against President Emmanuel Macron’s deeply unpopular plan to raise the nation’s retirement age from 62 to 64, the stakes couldn’t be higher.

A poll released Wednesday shows that reactionary lawmaker Marine Le Pen—leader of the far-right National Rally party, the largest opposition force in Parliament—would beat Macron by a margin of 55% to 45% in a head-to-head rematch. The neoliberal incumbent defeated Le Pen in a runoff election last April, but the openly xenophobic and Islamophobic challenger has gained significant ground since their first matchup in 2017.

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Shareholders Target Wall Street Banks With ‘Groundbreaking’ Climate Resolutions

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“Investors are saying we can’t conduct business in a world that is on fire, that has heatwaves and insufficient water. And I do think companies are beginning to understand that it’s in their interest to take action.”

By Brett Wilkins Published 4-26-2022 by Common Dreams

Protest outside the Bank of America shareholder meeting on April 25, 2022. Photo: drew hudson #1u/Twitter

A significant percentage of shareholders at three of the biggest U.S. banks voted Tuesday to endorse first-of-their-kind resolutions urging the companies to stop supporting new fossil fuel development amid a worsening climate emergency.

Shareholders at Citi, Bank of America, and Wells Fargo voted 12.8%, 11%, and 11%, respectively, to support climate resolutions filed by the Sierra Club Foundation and other members of the Interfaith Center on Corporate Responsibility. According to the Sierra Club, any resolution that receives at least 5% of the vote can be refiled the following year, and those that get 10% or more are “considered difficult for a company to ignore.” Continue reading →

‘Conflicts of Interest Abound’: Progressives Sound Alarm as BlackRock Prepares to Lead the Fed’s Covid-19 Corporate Bailout Program

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“We cannot afford to allow the interests of private corporations to supersede the needs of the American people and the long-term stability of our economy.”

By Jake Johnson, staff writer for Common Dreams. Published 5-11-2020

BlackRock CEO Larry Fink. Screenshot: CNBC

BlackRock, the largest asset management firm on the planet, has for years faced criticism and protests from progressives over its massive investments in fossil fuels, private prisons, and the arms industry—and now the financial behemoth is set to take on a leading role in the Federal Reserve’s sprawling coronavirus bailout program.

The Wall Street Journal reported Sunday that BlackRock—which manages over $7 trillion in assets—will in the coming days help the central bank funnel “money into both new and already-issued corporate bonds, assisting the Fed in its recently adopted role as lender of last resort for businesses.” Continue reading →

As Trump Threats Stir Global Arms Race, New Report Details the Nuclear War Profiteers

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“If you have been wondering who benefits from Donald Trump’s threats of nuclear war, this report has that answer.”

By Andrea Germanos, staff writer for CommonDreams. Published 3-7-2018

The new report “names those that are still okay with trying to make a profit from producing nuclear weapons.” (Photo: ippnw Deutschland/flickr/cc)

A new report offers a comprehensive look at who’s profiting from the new nuclear arms race.

“If you have been wondering who benefits from Donald Trump’s threats of nuclear war, this report has that answer,” said Beatrice Fihn, executive director of the International Campaign to Abolish Nuclear Weapons (ICAN), winner of the 2017 Nobel Peace Prize.

ICAN, along with Netherlands-based peace group Pax, released the report, entitled “Don’t Bank on the Bomb,” on Wednesday. It shows that 329 financial institutions in 24 countries invested $525 billion into the top 20 companies involved in the production, maintenance, and modernization of nuclear weapons from January 2014 through October 2017. Continue reading →

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Tag Archives: BlackRock

Business of War Is Booming as Orders Surge at Top Global Arms Firms

“The order books of the world’s biggest defense companies are near record highs,” a new Financial Times analysis reveals.

Memo Exposes Renewable Energy Trade Group’s Close Ties to Fossil Fuel Industry

“Despite its name, American Clean Power is yet another fossil fuel lobbying group trying to trick people into believing its greenwashing,” said one campaigner. “Any political leader who claims to care about the planet’s future should shun this organization.”