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Photo: Johannes Eisele/Getty Images

Warren Buffett is heading to Los Angeles to reunite with longtime lieutenant Charlie Munger, showbiz-style, for Berkshire Hathaway's annual shareholder meeting Saturday.

Why it matters: At a time when many companies are taking vocal stands on social, political and environmental issues, Berkshire is bucking the trend.

  • The conglomerate faces renewed calls from large institutional shareholders to provide more disclosure on climate change and diversity and inclusion progress.
  • But Buffet recommends shareholders vote against these proposals.

What they're saying: “I don’t believe in imposing my political opinions on the activities of our businesses,” Buffett said at the 2018 shareholder meeting, per DealBook.

The state of play: California's pension system, CalPERS, is withholding votes on the reelection of members of the board’s audit and governance committees for failing to meet climate-risk disclosure demands, writes the WSJ.

  • Proxy advisers Glass Lewis and Institutional Shareholder Services also recommend investors withhold board votes.

Yes, but: The shareholder proposals aren't expected to pass, thanks in no small part to Buffet's one-third voting power, DealBook notes.

Go deeper

Hope King, author of Closer
Apr 29, 2021 - Economy & Business

CEOs are finding new ways to court and communicate with retail investors

Illustration: Eniola Odetunde/Axios

As trading volume from retail investors continues to grow, public companies are finding it more important than ever to speak directly to this group.

Why it matters: Companies are bypassing middlemen to reach their intended audience and tell their stories directly. 

Updated 43 mins ago - Sports

Experts predict major boom for North American sports stadiums

Rendering of the $375 million Moody Center on the UT-Austin campus. Photo courtesy of Moody Center

Stadium and arena construction in North America will total a relatively tame $5.8 billion this year, a 12% decrease from 2021.

The big picture: What the industry lacks in construction it expects to make up for in design, with experts predicting a sports venue boom over the next half-decade, SBJ reports.

Updated 44 mins ago - World

UK government: Kremlin has plan "to install pro-Russian leadership" in Ukraine

British Foreign Secretary Elizabeth Truss. Photo: Gints Ivuskans / AFP via Getty Images

The United Kingdom's Foreign Secretary on Saturday night said the government has "information that indicates the Russian Government is looking to install a pro-Russian leader in Kyiv as it considers whether to invade and occupy Ukraine."

The latest: “I can’t comment on specific pieces of intelligence. But we’ve been warning about just this kind of tactic for weeks and we’ve spoken to that publicly," Secretary of State Antony Blinken said Sunday. The Biden administration has said Russia is actively manufacturing a pretext for invasion and warned that Putin could use joint military exercises in Belarus as cover to invade from the north.