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Exxon did not immediately respond to a request for comment. The pair have previously teamed up to pressure Exxon on environmental issues, including on a shareholder resolution in 2017 which asked the company to disclose the impact of measures to combat climate change on its business. The NYSCRF and CCE are joined in the latest initiative, which will be filed for a potential vote at Exxon’s shareholder meeting in the spring of 2019, by other funds including the California Public Employees’ Retirement System (CalPERS), and HSBC Global Asset Management, the statement added mens cufflink shirt uk online.

LONDON (Reuters) – Recent sharp selloffs across global financial markets are probably the first of many, as investors adjust to a world of tighter monetary conditions and the threat of economic downturn, the Bank of International Settlements said on Sunday. The year has been a tough one, with big drops in European and Asian stocks and even U.S. equities recently slipping into the red for 2018 after a decade-long bull-run. The last quarter saw increasing fears for world and U.S. economic growth as trade war noise escalated and central banks tightened policy or prepared to withdraw extraordinary crisis-era stimulus mens cufflink shirt uk online.

The “market tensions we saw during this quarter were not an isolated event,” Claudio Borio, head of the monetary and economic department at the BIS said. Monetary “policy normalization was bound to be challenging especially in light of trade tensions and political uncertainty,” Borio added in the BIS’s quarterly review. Among the challenges facing the global economy, Borio listed the possibility of rising inflation, the “dark cloud” of lower-rated U.S. corporate debt in an overstretched market and weakness in the European banking sector mens cufflink shirt uk online.

The BIS is an umbrella group for the world’s central banks and its reports are seen as an indicator of the thinking that goes on behind the closed doors of its quarterly meetings. Recent weeks also saw short-dated U.S. government bond yields briefly rise over medium-term rates, a phenomenon known as a “yield curve inversion”. A fairly reliable precursor of recessions, the inversion further spooked investors. The BIS said however that studying the state of the financial cycle does a better job of flagging recession risks than the yield curve mens cufflink shirt uk online.

Borio, Mathias Drehmann and Dora Xia said their study had found that since the early-980s, downturns typically followed financial booms rather than significant monetary tightening. But they did not apply their findings to today’s conditions to gauge the risk of a recession hitting in the years ahead mens cufflink shirt uk online. Steadily rising U.S., interest rates may also put a squeeze on the availability of dollars — the global funding currency of choice. But the BIS said the financial sector’s ability to raise dollar funding outside the United States could mitigate this risk..