VW’s Latest Suspects and More Primaries–5 Things to Know Today
Hello friends and Fortune readers.
Wall Street stock futures are lower this morning as global stocks take fright at the latest shocking data out of China (see below). Crude oil futures have also fallen back, but the international benchmark blend Brent is still holding above $40/barrel.
Today’s must-read story is by Fortune’s Lucinda Shen on a new electronically-traded fund that specializes in investing in companies with more women in top management rolls. The fund developed by State Street Global Advisors debuts today.
Here’s what else you need to know.
1. German prosecutors widen the list of suspects at VW
German prosecutors have widened their investigation into potentially criminal activity at Volkswagen to 17 members of staff—but still aren’t investigating either its present or its past top management. A spokesman for the prosecutors in the city of Brunswick (Braunschweig) told Fortune that recent disclosures suggesting that chief executive Martin Winterkorn was aware of the long-running deception of U.S. regulators already in May 2014—over a year before the company finally admitted it to the world—weren’t enough by themselves to justify opening an investigation into the former boss.
2. More primaries and caucuses.
Hawaii, Idaho, Michigan, and Mississippi all hold either primaries or caucuses to vote on presidential nominees for each political party. Republicans will cast their votes in Idaho, Michigan, and Mississippi, while Democrats will head to the polls in Michigan and Mississippi. In total, 205 delegates are at stake for the Democrats and 150 for the Republican candidates.
3. British finance leaders discuss possible E.U. succession.
Bank of England Governor Mark Carney backed U.K. Prime Minister David Cameron’s European Union deal ahead of a June referendum on membership, saying the agreement allowed the central bank to do its job. While Carney said he was not making any recommendation about how to vote in the June 23 referendum, he gave a positive assessment of reform promises that Cameron extracted E.U. leaders ahead of the referendum.
4. The Montgomery Summit.
Leaders and investors from across industries will gather in Santa Monica, Calif. for the Montgomery Summit today where they will discuss innovations in business and technology. The invitation-only event is presented by Macquarie over two days. Cisco Systems (CSCO) Chairman John Chambers will headline the keynote event.
5. Goldman banker subpoenaed over links to Malaysian fund
An ex-Goldman Sachs banker connected to a controversial state investment fund in Malaysia has been subpoenaed by U.S. authorities. According to Bloomberg, Tim Leissner, once the chairman of Goldman’s operation in Southeast Asia and husband of former U.S. model and designer Kimora Lee Simmons, resigned in January after bank investigators found he allegedly violated firm policies, but continued to work for the bank until Feb. 23, according to The Wall Street Journal. He was issued a subpoena in late February.