Saturday, May 21, 2022

News: May 21

US economy could outpace China's China’s strict COVID lockdowns could cause its economic growth to drop below that of the U.S. this year, the first time America will have outpaced the People’s Republic since the Cultural Revolution ended in 1976. ........ China’s gross domestic product will increase 2% in 2022, while U.S. GDP will climb by 2.8%.



Musk calls ESG a ‘scam.’ Is he right? Tesla CEO Elon Musk has blasted ESG investing as a “a scam” after his electric vehicle company was booted from a top index of socially responsible companies over labor practice concerns. Musk tweeted that S&P had lost its “credibility” by pulling Tesla from its index of companies that meet environmental, social and governance (ESG) criteria, while leaving oil giant Exxon Mobil on the list.

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