– A union-aligned investor group SOC Investment Group has urged Amazon, Walmart and Alphabet to disclose how President Donald Trump’s immigration policies affect their finances and supply chains, according to letters seen by Reuters (paywall).
SOC, which holds small stakes in each company, has asked for details on how they will handle Trump’s proposed $100,000 fee on new H-1B visas, a move that could impede hiring skilled foreign workers – especially in the technology and logistics industries.
The group also asked Amazon and Walmart to explain how immigration enforcement, including farm raids, is impacting the trucking and agriculture sectors, which are central to their operations.
The request follows H-1B rule changes that sparked concern in technology hubs and comes after Trump issued an executive order that could make it easier for companies to ignore shareholder proposals. SOC says it may pursue litigation if disclosures aren’t made.
– US regulators have eased certain compliance requirements on Citigroup, lifting a 2024 amendment to a long-running consent order originally imposed after serious risk-control and data-management failures.
As reported by The Financial Times (paywall), the Office of the Comptroller of the Currency terminated the amendment that had required Citi to conduct detailed resource reviews tied to dividend payments, though the broader 2020 consent order remains in effect.
That earlier order stemmed from a costly mistaken $900 mn payment and exposed deep shortcomings in the bank’s internal controls. Citigroup faced additional fines and regulatory pushback in 2024 for ongoing issues, even as it undertook a major overhaul under CEO Jane Fraser to modernize systems and strengthen compliance. The regulatory relief is seen as recognition of the bank’s progress in addressing its long-standing operational weaknesses.
– Proxy adviser ISS has revived a project aimed at countering what it views as misinformation about proxy advisory firms and their role in capital markets.
As first reported by Responsible Investor (paywall), the initiative seeks to ‘set the record straight’ amid increasing scrutiny and criticism of proxy advisers. The companies face heightened attacks from political and corporate actors questioning their influence and alleging bias, particularly regarding ESG issues.
By addressing misconceptions about how proxy advisers operate and the value they provide, ISS aims to defend the integrity of its services and support confidence in the proxy voting process, it said.
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– The Trump administration is preparing an executive order aimed at limiting financial rewards – including dividends, share buybacks and executive pay – for US defense contractors whose major projects run significantly over budget and face delays.
As reported by Reuters, the proposal reflects growing frustration in the White House and Pentagon about the defense industry’s slow delivery and high costs, with companies like Lockheed Martin and Northrop Grumman seeing stock declines after the news.
The order is tied to a broader initiative involving the Treasury Department, but its final iteration could still change and it is not yet official. Pentagon chief Pete Hegseth has also enacted procurement reforms to streamline weapon acquisitions.
Industry groups are lobbying against what they see as burdensome measures and are cautious about how any restrictions would be implemented.
– BlackRock has lost its second major Dutch pension mandate in recent months after a significant investor ended its relationship with the world’s largest asset manager over concerns about sustainable investing and climate action.
According to the Financial Times, the PME group, which manages about €59 bn for workers in the metal and technology sectors, withdrew around €5 bn from BlackRock, citing the need for stronger alignment with its ESG goals.
This follows an earlier withdrawal by PFZW, the Dutch healthcare pension fund, underscoring a growing European-US divide on ESG priorities.
European investors are increasingly demanding robust climate stewardship, while some US asset managers have retreated from ESG initiatives amid domestic political pressure.
The decisions by Dutch pension funds reflect rising expectations that asset managers must integrate sustainability into long-term investment strategies and signal shifts in how institutional capital is allocated.
– Nasdaq has proposed a new rule to give itself greater authority to block IPOs even when companies meet existing listing standards if signs suggest the stock could be vulnerable to manipulation.
As reported by Reuters, the move aims to strengthen market integrity by tightening gatekeeping, especially for firms from opaque jurisdictions that seek access to US capital markets and have shown volatile trading patterns.
Nasdaq would be able to review factors such as a company’s headquarters location, legal protections for US shareholders, influence of controlling parties, board experience and the track records of advisers when deciding whether to approve an IPO.
The proposal responds to concerns about sharp price surges and declines seen in some small-cap listings in recent years, which regulators and the exchange fear could reflect manipulation. Nasdaq has already introduced tougher listing standards to curb such risks.
– Ben & Jerry’s has announced governance changes to strengthen its board and protect the company’s long-standing social mission as it enters its next chapter.
Confirmed in a press release, the ice cream maker is implementing a policy that prevents directors who have served more than nine years from standing for re-election in 2026, resulting in three directors being informed they are no longer eligible to serve.
These measures aim to reinforce transparency, accountability and long-term resilience in board oversight. In addition, an independent audit of the Ben & Jerry’s Foundation – a separate charitable organization – identified material weaknesses in financial controls, governance and conflict-of-interest policies.
The company has proposed governance improvements including a Code of Ethics, conflict-of-interest policies and stronger financial controls, aligning the foundation with standard best practices.