The expansion of a Bank of Japan lending program and a government stimulus package announced this week to weaken the yen and bolster economic growth have failed to encourage investors at MFC Global Investment Management (Japan) Ltd. and STB Asset Management Co.
Storebrand ASA ended its investment in most palm oil producers, apart from Golden Agri-Resources Ltd., after Norway’s second-largest insurer found the companies breached its environmental sustainability standards.
About $8 trillion of known coal reserves lie beneath the earth’s surface. The companies planning to mine and burn them are being targeted by a growing group of investors concerned with the greenhouse gases that will be made.
Storebrand ASA, Norway’s largest publicly traded insurer, said the government’s plan to scrap an eight-year-old tax exemption for some life-insurance products will prompt the industry to charge customers more.
Storebrand ASA fell the most in a month in Oslo as Gjensidige Forsikring ASA sold shares in Norway’s second-largest insurer and reclassified its holding as a financial investment, prompting speculation about more divestments.