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TheState of Texas is terminatinga massive $8.5 billion investment with trillion-dollar asset manager BlackRock over the state’s determination that the firm is engaged in a boycott of energy companies.

In an announcement first shared with FOX Business, Texas State Board of Education Chairman Aaron Kinsey said the so-called Texas Permanent School Fund (PSF) haddelivered a notice to BlackRockon Tuesday, informing the New York City-based firm of the action.

According to Kinsey, the move was made in accordance with a 2021 state law that seeks to distance the state and its large public purse from financial institutions boycotting the oil and gas sector.

“The Texas Permanent School Fund has a fiduciary duty to protect Texas schools by safeguarding and growing the approximately $1 billion in annual oil and gas royalties managed by the Texas General Land Office,” Kinsey said in a statement Tuesday. “Terminating BlackRocks contract ensures PSFs full compliance with Texas law.”

“BlackRocks dominant and persistent leadership in the ESG movement immeasurably damages our states oil & gas economy and the very companies that generate revenues for our PSF. Texas and the PSF have worked hard to grow this fund to build Texas schools,” he continued. “BlackRocks destructive approach toward the energy companies that this state and our world depend on is incompatible with our fiduciary duty to Texans.”

The divestment represents a large share of the $53 billion Texas PSF, a fund created in the 19th century to support the state’s public schools.

The action also represents by far the largest divestment of its kind since Republican-led states began terminating their financial ties to BlackRock and other financial institutions over their pursuit of so-calledenvironmental, social and governance (ESG) standards.

The ESG movement, which has picked up steam in recent years, calls for investments to be pulled from traditional energy industries and diverted togreen energy industriesin the fight against global warming.

However, the ESG movement has faced significant resistance from both the energy industry and lawmakers at the state and federal level.

As part of that pushback, Texas passed Senate Bill 13 in 2021, requiring its state comptroller to list financial companies found to boycott fossil fuel companies.

Texas Comptroller Glenn Hegar most recently updated that list in October, including BlackRock and several funds managed by the firm, and has called on the Texas Permanent School Fund, in addition to five state pension funds, to sever ties with the asset manager.

“Today represents a major step forward for the Texas PSF and our state as a whole. The PSF will not stand idle as our financial future is attacked by Wall Street,” Kinsey said Tuesday. “This bold action helps ensure our PSF remains in fact permanent and will continue to support bright futures and opportunities for generations of Texas students.”

BlackRock, whichmanages more than $10 trillion in assets, has sought to defend itself in recent months from accusations that it is boycotting energy companies, noting that it remains invested in traditional energy companies, but factors in ESG matters because it serves clients with a range of investment objectives.

Additionally, the firm partnered with major energy company Occidental Petroleum late last year on a carbon capture project in Ector County, Texas.

“BlackRock is helping millions of Texans invest and save for retirement,” a BlackRock spokesperson told FOX Business. “On behalf of our clients, weve invested more than $300 billion in Texas-based companies, infrastructure and municipalities, including $125 billion invested in the energy sector, including a $550 million joint venture with Occidental. We recently hosted an energy summit in Houston designed to explore how to strengthen Texas power grid.”

Still, Texas’ move was cheered by Derek Kreifels, the CEO of the State Financial Officers Foundation, and Will Hild, the executive director of Consumers’ Research, who have led nationwide opposition to ESG policies.

“Todays bold step by Aaron Kinsey and the Permanent School Fund of Texas, in accordance with state law, is a massive blow against the scam of ESG,” said Kreifels. “This is what happens when public fiduciaries stand up for those to whom they owe a duty, instead of bowing down to Wall Streets asset managers who continue to abuse their position in the market to advance radical ideologies.”

“Under Larry Fink’s leadership, BlackRock has been misusing client funds to push a political agenda for years. Nowhere was that more egregious than in Texas, where BlackRock was simultaneously trying to destroy the domestic oil and gas industry while managing funds that depended on royalties derived from that very same industry,” added Hild. “A more flagrant violation of fiduciary duty is difficult to imagine.”

Hild said Texas’ divestment sends a “clear message” that “Wall Street elites that people can no longer be bullied into complying with ESG’s destructive ideology.”

Prior to the action announced Tuesday, Arizona, Arkansas, Florida, Louisiana, Missouri, South Carolina, Utah, and West Virginia announced similar divestments.

The largest previous divestment was Florida’s, worth $2 billion, announced by Florida Chief Financial Officer Jimmy Patronis in December 2022.

Some critics of the states’ moves distancing themselves from BlackRock andother asset managershave argued the actions harm consumers.

For example, a Texas Association of Business Chambers of Commerce Foundation study released last week concluded Texas Fair Access laws will result in $668.7 million lost in economic activity and 3,034 fewer full-time, permanent jobs.

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Astronomers Watch a Dormant Neutron Star Reignite After a Decade of Silence

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Astronomers observed a neutron star known as P13 suddenly brighten after years of inactivity. The decade-long study shows how changes in accretion can drive extreme X-ray power, offering new insight into ultraluminous X-ray sources and neutron star physics.

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‘Hero’ pedestrian climbed into car of Liverpool parade attacker to stop him, court hears

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'Hero' pedestrian climbed into car of Liverpool parade attacker to stop him, court hears

A “hero” pedestrian climbed into the car of Liverpool parade attacker Paul Doyle and stopped him, a court has heard.

Doyle, who used a car as a “weapon” to plough through more than 100 people celebrating Liverpool’s Premier League title win, told officers “I’ve just ruined my family’s life”, the court heard.

The sentencing hearing was told the 54-year-old was “in a rage” and his “anger had completely taken hold of him”.

Doyle is due to be sentenced on Tuesday after pleading guilty to 31 offences relating to seriously injuring people during the victory parade on 26 May.

Doyle, described as a “family man” by prosecutors, wept as footage of the horrific rampage was shown to the city’s crown court several times on Monday.

Paul Greaney KC, prosecuting, described the actions of Daniel Barr, who he called the “hero” of the day.

Emergency services at the scene. Pic: AP
Image:
Emergency services at the scene. Pic: AP

Mr Barr, an ex-soldier, had “bravely” jumped into the back of Doyle’s Ford Galaxy and placed the vehicle into park.

He was walking up Water Street when he noted the defendant’s Ford Galaxy in the distance, said Mr Greaney, noting the crowd’s attitude changed from “joyous to desperate”.

Doyle’s vehicle then stopped next to Mr Barr “all of a sudden”.

“Daniel Barr instinctively pulled open the rear passenger-side door and climbed in. He did so with the intention of stopping the driver,” the prosecutor said.

Mr Barr leaned forward and moved the gear into “park” and “held it as hard as he could”.

Mr Greaney added: “The Galaxy did not stop immediately, but in the end it did.”

The prosecutor said police officers forced Doyle into a police van after the attack.

This, he said, was done “in the midst of a hostile crowd”, adding that officers’ behaviour was both “brave and effective”.

When Doyle was securely in the van, Mr Greaney said police body-worn camera footage picked up him saying: “I’ve just ruined my family’s life.”

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Doyle admitted dangerous driving, affray, 17 charges of attempting to cause grievous bodily harm (GBH) with intent, nine counts of causing GBH with intent, and three counts of wounding with intent last month.

He had previously denied the offences, which relate to 29 victims aged between six months old and 77 years old.

Forensic officers at the scene in Water Street.
Pic: PA
Image:
Forensic officers at the scene in Water Street.
Pic: PA

The court was shown dashcam footage taken from the defendant’s car showing the attack.

Mr Greaney warned the court: “What we are about to display on the screens is truly shocking.”

There were audible gasps in the courtroom as the footage played.

Doyle could be heard repeatedly shouting at pedestrians to “move out the f****** way” as he drove through crowds.

Consistently using his vehicle’s horn, people could be seen trying to jump out of the way, with some forced on to the bonnet of the car.

“F****** pr****,” Doyle shouts as the footage continues.

By the end of the footage, people begin to attempt to run up to the vehicle.

When the car stops, one man shouts, “get the f*** out of the car”.

Pic: Reuters
Image:
Pic: Reuters

Mr Greaney also detailed some of the injuries sustained by victims on the day of the attack.

One woman, aged 66, spent four nights in hospital after breaking six ribs and suffering fractures to her fingers on her left hand and her left wrist.

Another woman, aged 77 at the time, spent 27 days in hospital.

The prosecutor said she suffered a fractured left forearm, fractured left collar bone, three fractured ribs, a fractured pelvis, a broken nose, as well as multiple abrasions and bruising to her head, knees and back.

Another victim, who was 17, suffered bruising to their legs, shoulder and had a small fracture to their tibia.

After suffering wound infections, it took two months before the victim regained mobility, the prosecutor added.

Victims of parade attack speak of ‘psychological injury’ and ‘flashbacks’

The victims of Paul Doyle’s attack during Liverpool’s Premier League victory parade have spoken of how they have suffered from “emotional and psychological injury” as well as “frequent flashbacks”.

A total of 78 people submitted victim statements to the court, in which they described how the “best day ever” soon became the worst.

Doyle sobbed as the words of one victim, a 12-year-old boy, were read out by prosecutor Philip Astbury at Liverpool Crown Court.

The child, who cannot be named for legal reasons, said: “I found myself on the floor having been hit by a car I did not see coming, I have never felt so scared before in my life.”

The boy’s mother said in her statement her heart sank when she saw her child inert on the floor.

She said the incident “caused me much anxiety having to watch my son deal with the pain, the frustration, him feeling down and isolated from his friends in school, the nightmares and the after-effects on him”.

The boy’s mother added: “The sight of my son lying motionless on the road, not moving for those few seconds, and the sound of the car hitting people will live with me forever.”

Another mother said she thought her baby son had died after his pram was catapulted into the air after being struck by Doyle’s vehicle, adding that she thought she would “be next”.

Sheree Aldridge, 37, said her partner Dan Eveson had proudly dressed their six-month-old son Teddy Eveson in his Liverpool FC shirt that day and “was excited to share this moment” with him.

She said in the statement: “In that moment I thought I was going to die. I didn’t know where Dan and Teddy was.

“I felt an overwhelming pain in my leg and looked up to see Teddy’s pushchair on its side further up the road. I thought my Teddy was dead.

“I thought I was next. I thought my children would grow up without a mother.”

The court also heard how a third mother, whose 13-year-old son was injured, said she has trouble sleeping due to flashbacks and has visions of her son’s “terrified face”.

Mr Greaney said some people at the scene on 26 May “thought that what was taking place was a terrorist attack”.

However, the prosecution ruled out that the defendant’s actions were “driven by ideology”.

Police investigations showed there was no problem with the vehicle, and Doyle was completely sober and “free of all drugs”, Mr Greaney said.

“The truth is a simple one – Paul Doyle just lost his temper in his desire to get to where he wanted to get to.

“In a rage, he drove into the crowd,” he added.

Doyle was arrested at the scene in Water Street just after 6pm and charged later that week.

The youngest victim was six-month-old Teddy Eveson, whose parents later told media he was thrown about 15ft down the road in his pram when the crash happened.

Doyle, of Croxteth, Liverpool, admitted attempting to cause grievous bodily harm to the baby.

Five other children, whom Doyle either injured or attempted to injure, cannot be named for legal reasons.

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Russia trying to ‘bully’ UK and allies with attacks under threshold of all-out war, MI6 chief says

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Frontline with Russia is 'everywhere' - even 'in the minds of our citizens', MI6 chief says

Russia is trying to “bully, fearmonger and manipulate” the UK and its allies with attacks under the threshold of all-out war, the new head of MI6 has said.

Blaise Metreweli, the first female chief of the Secret Intelligence Service (SIS), said Britain was “operating in a space between peace and war” and that everyone has a responsibility to understand the dangers because “the frontline is everywhere”.

In her first big speech on Monday, she also focused on Vladimir Putin’s devastating war in Ukraine, accusing him of “dragging out negotiations” on a peace deal and warning that Kyiv’s fate is “fundamental not just to European sovereignty and security but to global security”.

Offering her view on the evolution of global security threats, Ms Metreweli underlined the transformative role of technology, from artificial intelligence to quantum computing.

She said control over such advanced technologies is shifting from states to corporations and even individuals, making the balance of global power more “diffuse, more unpredictable”.

The spymaster did not name anyone.

Blaise Metreweli. Pic: PA
Image:
Blaise Metreweli. Pic: PA

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Is time running out for peace plan?

However, innovators such as Elon Musk are becoming increasingly influential, with their technologies such as his Starlink satellites and his social media site X.

The boss of MI6 was speaking at her agency’s headquarters in London, though she said that the main work of her spies was carried “many miles away from this place – out of sight, hidden from the world, undercover, recruiting and running agents who choose to place their trust in us, sharing secrets to make the UK and the world safer”.

She warned the world was “more dangerous and contested now than it has been for decades”.

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The spy chief said: “Conflict is evolving and trust eroding, just as new technologies spur both competition and dependence.

“We are being contested from sea to space – from the battlefield to the boardroom. And even our brains as disinformation manipulates our understanding of each other and ourselves… We are now operating in a space between peace and war.

“This is not a temporary state or a gradual evolution. Our world is being actively remade with profound implications for national and international security.”

Breaking with a tradition by previous chiefs of offering a view on a range of threats when speaking publicly, Ms Metreweli said she was choosing to focus on Russia.

“We all continue to face the menace of an aggressive, expansionist and revisionist Russia, seeking to subjugate Ukraine and harass NATO,” she said.

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Ukrainian MP: Who will stop Putin?

On the conflict, she said Putin was “dragging out negotiations and shifting the cost of war on to his own population”.

Her comments come as Donald Trump is attempting to broker a peace deal between Moscow and Kyiv.

General Oleksandr Syrskyi, the head of Ukraine’s armed forces, told Sky News in an interview earlier this month that he believed Putin was using the US push for negotiations as “cover” while Russian troops attempted to seize more land by force.

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The Wargame returns with new episodes

The MI6 boss said the UK’s support for Ukraine would endure regardless of Moscow’s stalling actions.

She also flagged a growing wave of “grey zone” hostilities – deliberately carried out under the threshold of conventional armed conflict – that she attributed to Moscow.

“It’s important to understand their [Russia’s] attempts to bully, fearmonger and manipulate because it affects us all,” she said.

“I am talking about cyber attacks on critical infrastructure. Drones buzzing airports and bases. Aggressive activity in our seas, above and below the waves. State-sponsored arson and sabotage. Propaganda and influence operations that crack open and exploit fractures within societies.”

Germany's President Steinmeier with President Zelenskyy in Berlin on Monday. Pic: Reuters
Image:
Germany’s President Steinmeier with President Zelenskyy in Berlin on Monday. Pic: Reuters

While she did not specify any particular incidents, there have been a spate of mysterious drone sightings in Denmark, Germany and Sweden; while a Russian spy ship was spotted off the coast of Scotland and acts of arson and sabotage have been carried out in the UK, such as a blaze at a warehouse in east London that was providing aid to Ukraine.

Drawing attention to another method to attack a country and its people, Ms Metreweli underlined how information is being weaponised, with falsehoods spread online that are designed to erode trust in a society and amplify divisions.

“The export of chaos is a feature not a bug in this Russian approach to international engagement and we should be ready for this to continue until Putin is forced to change his calculus,” she said.

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NATO boss: ‘Conflict is at our door’

MI6, she said, is adapting to respond to the evolving threats.

But unusually Ms Metroweli also said the wider British public had a role to play, such as with schools helping to educate children to spot disinformation on social media and to check sources of news “and be alive to those algorithms that trigger intense reactions like fear”.

She added: “It also means everyone in society really understanding the world we are in – a world where… the frontline is everywhere. Online, on our streets, in our supply chains, in the minds and on the screens of our citizens.”


Building on the success of the highly acclaimed podcast The Wargame, Sky News presents The Wargame: Decoded – a one-off live event that takes you deep inside the minds of the wargame’s participants. Discover how they tackled the toughest challenges, the decisions they made under intense pressure, and even experience key moments of the game for yourself.

Click here to get tickets.

Sky News’ Deborah Haynes will guide the conversation with Sir Ben Wallace, Robert Johnson, Jack Straw, Amber Rudd, Keir Giles and General Sir Richard Barrons – real-life military chiefs, former government officials and leading experts. Together, they will unpack their experiences inside The Wargame, revealing the uncertainty, moral dilemmas and real-world pressures faced by those who must make decisions when the nation is under threat.

Join us for this unique event exploring how the UK might respond in a moment of national crisis and get a rare, unfiltered glimpse into how prepared the country truly is for war.

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