From Headlines From Clear Law…

In today’s news, I bring to you the Top 5 news:

1. In the US investment funds pulled $13.3bn from BlackRock in an anti-ESG campaign

2. Thiel, Bezos and Zuckerberg join parade of insiders selling tech stocks

3. China blocks use of Intel and AMD chips in government computers

4. Ferrari doubles Taiwan sales as chip entrepreneurs fuel demand

5. Advent and CVC make joint bid for European pet food business

and much more to stay tuned for.

Detailed Report for the Day consists of:

US Investment funds pull $13.3bn from BlackRock into anti-ESG campaign

Red Investment funds have pulled about $13.3bn from the world’s largest asset manager, BlackRock. The figure is roughly 1/10% of BlackRock's $10tn in assets under management.

This means: that although it is not a very large amount to affect BlackRock, it forces BlackRock to try and respond to the campaign against environmental, social and governance factors in different ways, such as the company co-hosted a power grid investment summit in Houston.

Thiel, Bezos and Zuckerberg join parade of insiders selling tech stocks

The three well-known investors and founders are among those who have sold hundreds of millions of dollar worth of their shares this quarter, according to analysis by Verity LLC. It observed that the ratio of corporate insider selling to insider buying is the highest its been since Q1 of 2021.

This means: that the sales of large blocks of stock by founders and high level executives is a bit concerning, do they know something that we do not know?

China blocks use of Intel and AMD chips in government computers

China has come up with new guidelines that will ensure that US microprocessors will be phased out of the government PCs and servers. This is a part of China reducing reliance on foreign tech and replacing it with domestic equivalents. The new guidelines also push for prioritisation of domestic made operating systems over foreign made one, like Microsoft Windows, thus companies like Huawei and Phytium will benefit from this.

Ferrari doubles Taiwan sales as chip entrepreneurs fuel demand

The sales of Ferraris in Taiwan have almost doubled in the last 4 years as the country’s chip entrepreneurs have benefited increasingly from supply chains diversifying away from China. Ferrari’s CEO observed that Taiwan demand has grown faster than in China or Hong Kong.

This means: that Ferrari shipments to China and Taiwan has increased from 5% in 2020 to almost 11% last year. According to the Allianz Global Wealth Report, Taiwan is the fifth richest country in the world because of the chip sector.

Advent and CVC make joint bid for European pet food business

PE firms Advent International and CVC Captial have joined forces to bid for Partner in Pet Food, the Hunagrian-based make of animal food, from the current owner Cinven.

This means: that the continuous slowdown of the M&A market has largely affected PE firms for them to take such actions.

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