Norway lawmakers to oppose blocking wealth fund investment in firms in Israeli-occupied areas
By Gwladys Fouche
OSLO (Reuters) -Lawmakers were on Wednesday debating whether Norway's $1.9 trillion sovereign wealth fund, the world's largest, should divest from all companies with activities in the occupied Palestinian territories.
A formal vote was expected around 3 p.m. Parliament was expected to reject a wholesale boycott.
The minority Labour government has for months been resisting pressure from pro-Palestinian campaigners to instruct the fund to divest from all firms with ties to the West Bank and the Gaza Strip.
"We have an established ethical regime for the fund," Finance Minister Jens Stoltenberg told the chamber in a debate on several aspects of the way the fund is run.
"We divest from the companies that contribute to Israel's breach of international law, but we do not divest from all companies that are present on the ground."
Lawmaker Ingrid Fiskaa from the small Socialist Left opposition party told the chamber: "Without Norwegian oil fund money, it would be more difficult for Israeli authorities to demolish the homes of Palestinian families."
The United Nations' special rapporteur on human rights in the Palestinian territories, Francesca Albanese, wrote to Stoltenberg to alert him to what she called the "structural entanglement of Israeli corporations ... in the machinery of the occupation both in the West Bank, including east Jerusalem, and the Gaza Strip, and the violence that sustains it".
"International corporations benefiting from (the Norwegian fund's) investments are critical components of the infrastructure sustaining the economy of the occupation," she wrote, in a letter dated May 20.
Stoltenberg replied that the government was "confident that the investments do not violate Norway's obligations under international law".
He noted that the fund follows ethical guidelines set by parliament, and that compliance is monitored by a separate body.
That watchdog has over the past year recommended divestments from Israeli petrol station chain Paz and telecoms company Bezeq and is looking at more potential divestments in Israel.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
21 minutes ago
- Yahoo
Bolsonaro denies orchestrating Brazil coup in Supreme Court testimony
BRASILIA (Reuters) -Former Brazilian President Jair Bolsonaro denied that he led an attempt to overthrow the government after losing the 2022 election during his trial before the country's Supreme Court on Tuesday, but acknowledged taking part in meetings aimed at reversing the outcome. Bolsonaro said he and senior aides discussed alternatives to accepting the electoral results, including the possibility of deploying military forces and suspending some civil liberties, but he said those proposals were soon dropped. "The feeling was that there was nothing else we could do. We had to swallow the election results," the ex-president said. "I never acted against the Constitution," Bolsonaro added, holding a copy of the country's 1988 charter that re-established democracy after two decades of military rule. In March, the Supreme Court agreed to hear the case against Bolsonaro and seven other people, including several military officers, who were charged with plotting a coup to stop Luiz Inacio Lula da Silva from taking office in January 2023. The charges stem from a two-year police investigation into the election-denying movement that culminated in riots by Bolsonaro supporters in the capital in early 2023, a week after Lula took office. Bolsonaro, who was the sixth defendant to testify in the case, spent several minutes of his two hours of testimony defending his administration's achievements and his criticism of the country's electoral system. Dozens of witnesses were previously heard by the court, an indication that the case is moving swiftly and could be concluded by the end of the year, avoiding overlap with campaigning for the 2026 presidential election. Bolsonaro has insisted he will run in that campaign, despite an electoral court decision barring him from seeking public office until 2030. On Monday, Bolsonaro attended the trial to watch testimony from Mauro Cid, his former aide turned whistleblower, and then shook his hand. Cid told the court that the former president reviewed a draft decree that was central to the coup plot and made changes, while keeping a section that ordered the arrest of Supreme Court Justice Alexandre de Moraes, who is now overseeing the case against Bolsonaro and his allies. On Tuesday, the former president said he only briefly saw the draft decree and never edited it. He also apologized for making unfounded corruption allegations about Supreme Court justices. "Forgive me," he told Moraes. A final ruling on Bolsonaro's case is expected by October.
Yahoo
32 minutes ago
- Yahoo
Starbucks accelerates new staffing model to all North American stores
By Waylon Cunningham (Reuters) -Starbucks CEO Brian Niccol told Reuters on Tuesday that he would accelerate the rollout of the coffeehouse chain's new staffing and service model, aiming for all 18,000 North American stores by summer's end, rather than the initial plan for just a third of U.S. stores by year-end. Niccol says the model is a foundational element of his turnaround strategy for the company, as he bets on an improved in-store customer experience to reclaim the sales growth that has eluded Starbucks in recent quarters. Niccol said early tests of the model have sped up service times and grown sales, without providing specifics. 'We've learned, and now we know what we need to do, so let's scale it,' he told Reuters at the company's three-day leadership summit in Las Vegas on Tuesday. The Green Apron model includes in-store technology to more efficiently sequence orders, as well as a dedicated barista for drive-through orders. Starbucks rolled out the service changes to 700 stores initially. During the company's April 29 quarterly earnings call, Niccol said it would be introduced in a third of U.S. stores by year-end. Niccol took over as Starbucks CEO in September with a plan to return the chain to its coffeehouse roots, focusing on the in-store experience and away from a reliance on mobile and to-go orders, in what the company calls "Back to Starbucks.' The goal is to get baristas to get customers their orders in four minutes or less. He did not share any financial figures about the cost of the Green Apron model's deployment, but said the company would host an investor day in 2026. The Las Vegas summit, the company's first since 2019, is hosting more than 14,000 managers and other company leaders. Analysts and investors have wondered how long Niccol will need to turn the company around. Shares have gained 11% over the last five years, compared with an 88% rise in the broad-market S&P 500. TD Cowen recently downgraded its rating of Starbucks to "hold" from "buy", saying in part that it believed Niccol's turnaround would take longer than expected to deliver results. Niccol said the transition will take time. Starbucks has not issued annual guidance, and Niccol told investors in an earnings call earlier this year that earnings-per-share 'shouldn't be used as a measure of our success' at this stage, instead pointing to in-store metrics like average wait times for orders. He said the transition's effect on earnings would be temporary. On Tuesday, he emphasized his goal isn't to achieve short-term performance solely through cost reduction. As Starbucks increases investments in its labor and elsewhere, Niccol said he would be "ruthless" in cutting expenses not related to the company's turnaround. 'We have to be critical of where we're spending if it's not driving toward the Back to Starbucks strategy and growth programs.'
Fox News
41 minutes ago
- Fox News
Fox News Politics Newsletter: Hillary ‘Can't Handle the Ratio'
Welcome to the Fox News Politics newsletter, with the latest updates on the Trump administration, Capitol Hill and more Fox News politics content. Here's what's happening… Former Secretary of State Hillary Clinton was brutally mocked by critics over a "delusional" X post describing the anti-ICE riots in Los Angeles as "peaceful demonstrations" while pinning blame on President Donald Trump for sowing "chaos" in southern California. "Comments off lol. She can't handle the ratio. This is what Hillary Clinton calls 'peaceful demonstrations,'" popular conservative X account Libs of TikTok posted, referring to how comments on Clinton's post were restricted to only permit ones from accounts Clinton follows on the social media platform and accompanied by footage of the destruction in LA. The message was in response to Clinton posting her first and only comment as of Tuesday morning regarding the Los Angeles riots, describing them as "peaceful demonstrations" before Trump mobilized the National Guard over the weekend…READ MORE. 'DEPRESSION CRISIS': Report gives new details on Trump assassination attempt suspect's 'descent into madness' BIG MUSIC: Trump order to stop 'exploitative ticket scalping' clears way for $1B Live Nation investment in new music venues ROADBLOCK: Federal judge rules Trump admin cannot block grants to LGBT groups ABORT DEPORT: 'Proof is in the pudding': Trump DOJ tells court it will seek dismissal of Abrego Garcia case COURT PUSHBACK: Trump admin may not deport migrant to Congo during immigration proceedings, federal judge rules 'ORCHESTRATED': Trump takes action against 'orchestrated attack' on law enforcement by deploying Marines to LA: Assemblyman RIOT CRACKDOWN: Tom Cotton pushes new crackdown on pro-immigration rioters in Los Angeles, citing ICE assaults TROOPS ON HOME SOIL: Trump mobilizes Marines: Look back at when US presidents have used active duty troops to quell domestic unrest BORDER BATTLE BOIL: Congress steps in amid 'out-of-control' Los Angeles riots as Democrats resist federal help COMMON SENSE: Fetterman calls out 'anarchy' in LA, declaring Dems forfeit 'moral high ground' by failing to decry violence SUPERCUT: WATCH: Democrats, media outlets insist L.A. anti-ICE riots are 'peaceful' despite violence, injured officers FUELING THE FIRE: California sheriff says Newsom 'encouraged' LA riots as ICE arrests violent illegal aliens 'DISAPPOINTING': Iran becoming 'much more aggressive' in nuclear talks, Trump tells Fox News 'OUTRAGEOUS': Five countries hit controversial Israeli politicians with sanctions and travel bans TERROR TAKEDOWN: Israel's navy hits Houthis in Yemen in 'unique' strike after Trump promises end to US ops KICKED OUT: Greta Thunberg deported from Israel after Gaza-bound 'selfie yacht' was seized BUDGET BATTLE: Republicans challenge 'irrelevant' budget office as it critiques Trump's 'beautiful bill' LAW AND ORDER: Hegseth defends National Guard LA deployments, says ICE agents must be protected 'ENOUGH IS ENOUGH': 'Enough is enough': GOP rep calls for official probe into time it took for LAPD to help assaulted ICE officers 'DO THE RIGHT THING': GOP unveils new weapon to help slash billions in government waste as Republicans rally behind Trump's plan 'THERE IS A GAP': House Dem grills Hegseth on submarine spending plans: 'Give us the details' REPORTER'S NOTEBOOK: How the House is technically done with the 'big, beautiful bill' MEMORIAL MISSTEP: NY lawmaker lambastes failed commemoration of Oct 7 attack, as Dem leadership accused of 'antisemitism' 'NOT ABOVE THE LAW': Milwaukee judge not immune from charges after allegedly helping illegal immigrant evade ICE, prosecutors say RED LINE: Blue city mayor vows 'no tolerance' for anti-ICE violence as LA riots unfold Get the latest updates on the Trump administration and Congress, exclusive interviews and more on
