Everything Is Getting More Expensive
Summary
The National Association of Manufacturers took issue with the securities regulator for not enforcing a Trump-era rule that sought to rein in the firms that are hired by institutional investors to advise them on how to vote their shares. Meanwhile, Tonal, a maker of connected fitness equipment, announced that the basketball star LeBron James has invested in the company, a bet that people will upgrade their home gyms. A duty to think of the big picture The Labor Department proposed rule changes yesterday that would make it easier for retirement plans to add investment options based on environmental, social and governance, or E.S.G., considerations. Reversing a Trump-era policy, the proposal not only permits pension plan administrators from considering these factors, but it may make it their legal duty to do so, especially as the economic consequences of climate change continue to emerge. A small fraction of these investments are held by retirement plans, even as interest is rising fast, especially among younger investors.