State Street Corp Updates Board Diversity Goals and Renames Private Credit Fund

State Street Corp has revised its board diversity goals in response to a growing backlash against diversity, equity, and inclusion initiatives in corporate America. The company previously expected corporate boards to have at least 30% women, with the intention of voting against the head of the nominating committees if this goal was not met.

Changes to Board Diversity Goals

• State Street Corp has shelved its board diversity goals
• The company’s previous goal was to have at least 30% women on corporate boards
• The decision is a response to a growing backlash against diversity, equity, and inclusion initiatives

Renaming of Private Credit Fund

State Street Corp and Apollo Global Management Inc have announced that they will rename their private credit exchange-traded fund. This decision comes in response to concerns raised by the US Securities and Exchange Commission.

Market Sentiment and Stock Price

The company’s stock price has not been directly mentioned in the news. However, the overall market sentiment has been affected by the sell-off of foreign funds in Indian equities. This development may boost the government’s capital gains tax collection. The Indian market has been experiencing corrections, and investors are facing heavy losses and tax burdens.

Additional Context

• The sell-off of foreign funds in Indian equities may boost the government’s capital gains tax collection
• The Indian market has been experiencing corrections, resulting in heavy losses and tax burdens for investors