The world’s largest shipping companies are starting to update their fleets for a greener future. Maersk received the world’s first dual-fuel methanol container ship in July 2023, and dozens more container ships that can run on alternative fuels are currently on order.
Stock investors punish companies caught doing something unethical a lot more when when these businesses also have a record of portraying themselves as virtuous. This hypocrisy penalty is the main finding of a study we recently published in the Journal of Management.
After a recent meeting between U.S. Treasury Secretary Janet Yellen and officials in Beijing, China released a statement demanding “practical action” over the issue of sanctions. The implication was that the punitive measures – imposed by the U.S. government on hundreds of Chinese individuals and entities over the past few years – impede any alleviation of the strained relations between the two economic giants.
The Russia-Ukraine grain deal that has been critical to keeping global food prices stable and preventing famine is currently in tatters. On July 17, 2023, Russia said it was pulling out of the year-old deal, which allowed shipments of grains and other foodstuffs to travel past the Russian naval blockade in the Black Sea. And to make matters worse, over the next two days Russia bombed the Ukrainian grain port of Odesa, destroying over 60,000 tons of grain.
Convening war rooms, planning speedy bailouts and raising house-on-fire alarm bells: Those are a few of the ways the biggest banks and financial regulators are preparing for a potential default on U.S. debt.