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The Morning Risk Report: Nike Investors Push For Political Spending Disclosure |
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A large billboard on top of a Nike store shows former San Francisco 49ers quarterback Colin Kaepernick at Union Square in San Francisco. PHOTO: ERIC RISBERG/ASSOCIATED PRESS
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Investors are seeking greater transparency from Nike related to its political spending and putting a proposal demanding regular reporting on political contributions to a vote on Thursday, Risk & Compliance Journal's Mara Lemos Stein reports.
The vote, to happen at the company’s annual general meeting in Beaverton, Ore., comes a few weeks after the sportswear giant unveiled an advertising campaign featuring NFL quarterback-turned-activist Colin Kaepernick. The campaign led some consumers to call for a boycott of the company and others to buy more of its sneakers.
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Nike’s board is recommending that its shareholders vote against the resolution. The company thinks its existing policies give shareholders enough information to evaluate any risk related to political contributions.
Many large companies have in recent years adopted greater disclosures in light of the risks to their reputation and business, although none of them have ever received a majority voting against board opposition, according to the Center for Political Accountability.
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Bank of America to Pay $30 Million in Settlement |
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Bank of America Corp. will pay $30 million as part of a settlement with the Commodity Futures Trading Commission related to charges that the bank tried to manipulate a benchmark for interest-rate products over a span of six years.
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EU Starts Preliminary Probe of Amazon's Treatment of
Merchants |
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Danske Shows Banks Still Miss the Usual Suspects |
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Some money laundering is highly sophisticated and difficult to track through multiple countries, offshore centers and anonymous shell companies. Some, like the more than $230 billion in dubious flows that have emerged at Danske Bank of Denmark, is worryingly simple, WSJ's Paul J. Davies reports.
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McDonald’s Avoids Fines as Europe Rules Its Tax Deal Is Legal |
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European Union regulators said that McDonald’s Corp.’s tax arrangement in Luxembourg is legal, dropping an investigation against the fast-food giant while lauding efforts to close tax loopholes highlighted in the probe.
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AutoNation’s Outspoken Chief Executive to Step Down Next Year |
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AutoNation Inc. Chief Executive Mike Jackson, who stood out for his willingness to challenge auto makers publicly, will step down in 2019 after leading the U.S.’s largest dealership chain for nearly two decades.
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Worldpay Co-CEO Philip Jansen to Leave at End of Year |
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One of Worldpay Inc.’s two chief executives is stepping down. The payments technology firm said co-CEO Philip Jansen is leaving the company Dec. 31. Executive Chairman Charles Drucker will become the lone CEO.
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State Department Recorded Drop in Global Terror in 2017 |
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The State Department reported a drop in terrorist attacks around the world in 2017 in an annual report released Wednesday, a decline that was largely driven by the rout of Islamic State in Iraq. Overall fatalities fell 27% to 18,753 in the 10 countries with the most terrorist attacks, the report said.
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Drones Deliver Safety, Efficiency Gains |
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Companies are finding more uses for unmanned aerial vehicles as drone technology and video analytics tools improve. A prime goal for BNSF Railway Co. and Allstate Corp., among other firms flying drones, is to keep employees out of dangerous situations during property inspections.
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Deutsche Bank has undergone multiple restructurings, suffered an exodus of senior executives, and faced some harsh reprimands from regulators. PHOTO: JUSTIN LANE/EPA/SHUTTERSTOCK
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Deutsche Bank Senior Banker Advised Bosses to Consider
Breakup |
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A senior investment banker at Deutsche Bank AG recommended earlier this year that the troubled German lender consider breaking itself up, and other long-term strategic options, to address its persistent competitive weaknesses, WSJ's Jenny Strasburg reports.
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Readers can subscribe to The Morning Risk Report here: http://on.wsj.com/MorningRiskReportSignup. Follow us on Twitter at @WSJRisk.
Follow the WSJ Risk & Compliance Team on Twitter: @WSJRisk, @srubenfeld and @LikelyMara.
Send comments to the Risk & Compliance editor, Jack Hagel, at jack.hagel@wsj.com.
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