**Texas-Led Coalition Sues Major Money Managers Over Alleged Coal Supply Manipulation**

A coalition of 11 states, spearheaded by Texas, has initiated a lawsuit against some of the world's largest money managers, alleging an unlawful conspiracy to reduce coal supply and increase electricity costs. This lawsuit marks a significant escalation in the conservative fight against ESG (environmental, social, and governance) investing.

The group filed the lawsuit in a federal court in eastern Texas against financial giants BlackRock, Vanguard, and State Street. The plaintiffs claim that these firms amassed substantial stakes in coal companies and then collaborated to promote environmental policies that limited coal production.

BlackRock has responded to the allegations, labeling them as "baseless." The company asserted its deep commitment to Texas' economic success, emphasizing that its investment strategies prioritize delivering financial returns for clients. Additionally, BlackRock mentioned that its holdings are subject to regular scrutiny by federal and state regulators.

The lawsuit highlights the clash over ESG investing, where these financial behemoths are perceived as using their significant influence to push for environmental policies. All three firms have been known to engage in initiatives that mobilize money managers towards shaping such policies.

This legal battle occurs amidst a backdrop of companies across the board retreating from diversity, equity, and inclusion programs, influenced further by Donald Trump's election. The president-elect and his supporters have criticized corporate diversity programs, portraying some initiatives as discriminatory against whites and exploiting misunderstandings about DEI efforts.

The news adds another layer to recent political turbulence, including bomb threats aimed at various Democrats in Connecticut and attacks on nominees linked to the president-elect. These threats, part of a broader wave of intimidation tactics this week, were not deemed credible but have nonetheless contributed to a climate of heightened tension.

Furthermore, geopolitical tensions simmer as the Israeli Defense Force reported an attack on a Hezbollah rocket launcher near the Lebanese city of Saida, shortly after a ceasefire took effect. This incident underscores the fragile nature of current peace efforts in the region.