Word: sectoral
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...world football's highest ranks. Zenit boasts a side of national stars, including Andrei Arshavin and Pavel Pogrebnyak, whose dizzying salaries are financed by energy giant Gazprom, the team's owner. Moscow clubs Spartak and Dynamo are sponsored by their corporate patrons - also from the oil and gas sector - Yukos and Lukoil, respectively. The war chests that such firms bring to the game have led to galloping salary inflation, says midfielder Alexei Smertin - who is leaving London's Fulham for a fatter contract with Lokomotiv in Moscow. Enormous sums are also being spent to build or renovate stadiums and training...
...Slyngstad's team of 188, which includes 11 people focused solely on corporate governance issues, consciously leverages the fund's rights as a major shareholder. Last year, the fund contacted several companies in its portfolio with operations in India's agricultural sector, urging better controls on child labor. Similarly, talks are ongoing with firms in Brazil's mining and steel industries. The fund has also sent to the boards of about 30 firms a document it published with the help of UNICEF and Save the Children, setting out its expectations regarding children's rights...
...these 7,000 companies behaving in ways that you would not be comfortable with?" asks Slyngstad. "Yes, of course." But his team, which is spread between Oslo, London, Shanghai and New York City, tries to use its heft strategically - for example, to pressure firms in a sector like Brazilian mining, in which exploitation of child labor persists. Nor will the environmentally unfriendly origins of the fund's cash prevent it from pressing for better ecological standards. Last year, for instance, the fund voted in favor of a shareholder push for U.S. oil major ExxonMobil to adopt emission-reduction goals. Hardly...
...Inflation is causing trouble worldwide, of course, but it's particularly acute in Vietnam, where prices for virtually everything, from food to fuel to housing, have been spiking. Much of Vietnam's recent growth has been driven by its expanding manufacturing sector, but now assembly line workers' salaries are being outpaced by basic living costs. The result has been a rash of strikes-unusual in communist Vietnam-that are hurting the country's image as a haven for multinational companies looking for alternatives to China for manufacturing sites. Over the last six months, there have been more than 300 strikes...
...Rubin’s lack of visibility at Harvard—he has missed some of the few public appearances of the Corporation, including last year’s Commencement—contrasts with his prominence in the financial sector...