Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

Norway wealth fund to vote for labour rights motion at Starbucks AGM

2023 03 23T093913Z 1 LYNXMPEJ2M09X RTROPTP 4 STARBUCKS RESULTS - Global Banking | Finance

OSLO (Reuters) – Norway’s $1.3 trillion wealth fund, one of the world’s largest investors, will vote in favour of a shareholder motion calling on Starbucks to report on how it respects labour rights, the fund’s manager said on Thursday.

The Norwegian fund owns 1.05% of Starbucks’ shares, worth $1.2 billion at the end of 2022, according to fund data. It is the company’s tenth-largest shareholder, according to Refinitiv Eikon. Starbucks is due to hold its annual meeting on Thursday.

Over the years, Schultz helped Starbucks build a reputation as a progressive employer, offering higher salaries and more benefits – including company stock and health insurance – than other restaurant chains.

But the company’s response to a growing union campaign, as well some of Schultz’s public comments, have been described by some critics, including some shareholders, as overly aggressive.

Norges Bank Investment Management (NBIM), which operates the Norwegian wealth fund, said it would vote in favour of commissioning a third-party assessment of Starbucks’ commitment to freedom of association and collective bargaining rights.

In a separate opinion piece published on Thursday, NBIM’s Chief Governance and Compliance Officer, Carine Smith Ihenacho, and Caroline Eriksen, a senior fund official, said NBIM had grown concerned over the issue.

“Freedom of association and the right to collective wage bargaining are fundamental employee rights – and human rights,” they said.

Starbucks was not immediately available for comment.


(Reporting by Gwladys Fouche, editing by Terje Solsvik)


Global Banking & Finance Review


Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post