Targeting ‘Woke Capital’

▤ Summary

Riley Moore, the outspoken treasurer of West Virginia, announced that Goldman Sachs, JPMorgan, BlackRock, Morgan Stanley and Wells Fargo were banned from doing business with the state because they had stopped supporting the coal industry, reports The Times’s David Gelles. Andrew Jassy and other top executives caused investors to shrug off the fact that the giant internet retailer reported its slowest quarterly sales growth in two decades, and has cut nearly 100,000 workers. In Britain, Boris Johnson, the outgoing prime minister, imposed a windfall tax on major oil and gas companies. But a top contender to replace him, Liz Truss, said that she opposed the tax because it would send “the wrong signal to the world,” and that Shell should be encouraged to invest in Britain. Ben van Beurden, Shell’s chief executive, said yesterday that energy prices were high in part because of government policies that discouraged investment in oil and natural gas in recent years.

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Bloomberg

$1B+