Exclusive-US expected to support Republican states' argument in BlackRock climate case
By Jody Godoy and Ross Kerber
(Reuters) -U.S. federal antitrust enforcers were expected to express support on Thursday for arguments wielded by Republican states that accuse asset managers BlackRock, Vanguard and State Street of conspiring through climate activism to decrease coal output, two sources familiar with the matter told Reuters.
The U.S. Department of Justice and Federal Trade Commission were expected to file a statement of interest in the case where Texas and 12 other states claim the companies used their substantial holdings in U.S. coal companies to discourage competition.
The development marks a political setback for the top asset managers. With some $27 trillion among them, BlackRock, Vanguard and State Street have come under fire from conservative Republicans, many from energy-producing states, who say the firms wrongly put environmental and social concerns above maximizing returns for their customers.
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Hamilton Spectator
23 minutes ago
- Hamilton Spectator
Vance says Musk making a ‘huge mistake' in going after Trump but also tries to downplay the attacks
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Yahoo
25 minutes ago
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ICE deportation blocked by Boston judge: Migrants now in shipping container in Djibouti
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Politico
29 minutes ago
- Politico
‘He's gone so nuclear': Vance isn't sure Musk could rejoin the MAGA fold
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