Daily Archive: November 29, 2020

Bet on these stocks for the millennial-powered COVID recovery, says Goldman’s Katie Koch

Encouraging vaccine news has Wall Street searching for stocks to play the rebound—scouring the market for names that have been beaten up amid the pandemic but poised to boom once things return to normal.

Katie Koch, cohead of fundamental equity at Goldman Sachs Asset Management, is feeling bullish on trades that bank on a surge in pent-up demand among an increasingly powerful cohort of spenders: Millennials.

Koch calls them the “world’s most powerful consumer,” and believes the group will become “increasingly dominant” in the marketplace over the next 10 years. But these millennials aren’t all materially obsessed, she argues.

“This is a generation of people that value experiences over things,” Koch tells Fortune. Those experiences, namely concerts and travel, have been “off limits” this year, but she believes “not only is it going to go back to normal, it may actually supersede that for some period of time … Read More

Swiss Responsible Business vote set to fail after missing regional majority By Reuters

© Reuters. FILE PHOTO: A small banner reading: “Responsible Business Initiative – Yes on November 29” is fixed to the frame of a bicycle in Zurich

By Brenna Hughes Neghaiwi

ZURICH (Reuters) – A vote setting up Swiss companies for higher scrutiny over human rights and environmental abuses looked set to fail on Sunday, according to early counts, despite backing from nearly half the population in a historically divisive vote.

In a referendum on Sunday, voters are choosing between proposals by the Responsible Business Initiative (RBI) to extend companies’ liability over human rights abuses and environmental harm caused abroad, and a milder government version.

The government proposal would force firms to step up checks on their overseas operations and supply chains, but stops short of extending liability to Swiss courts.

Demonstrating unusual support for a politically and economically progressive initiative in the traditionally staid country, just under 50% of voters

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