A federal judge in Texas on Friday said American Airlines violated federal law by basing investment decisions for its employee retirement plan on environmental, social and other non-financial factors. The ruling by U.S. District Judge Reed O'Connor appeared to be the first of its kind amid growing backlash by conservatives to an uptick in socially-conscious investing. O'Connor said American had breached its legal duty to make investment decisions based solely on the financial interests of 401(k) plan beneficiaries by allowing BlackRock, its asset manager and a major shareholder, to focus on environmental, social and corporate governance (ESG) factors. "The evidence made clear that [American’s] incestuous relationship with BlackRock and its own corporate goals disloyally influenced administration of the Plan," wrote O'Connor, an appointee of Republican former President George W. Bush. A BlackRock spokesperson said: "We always act independently and with a singular focus on what is in the best financial interests of our clients. Our only agenda is maximizing returns for our clients, consistent with their choices."<br/>
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Qatar Airways has agreed a deal worth up to £80m to become title sponsors of the new Nations Championship in a move that underlines rugby union’s determination to follow other sports in securing investment from the Middle East. It was revealed in October that Qatar had been chosen to stage the second finals series of the Nations Championship, in 2028, and the national airline has now come on board as headline sponsors. The eight-year deal will cover the qualifying matches and finals series for the first four editions of the new competition running from 2026 until 2034. Qatar Airways is fully owned by the Qatari government, which as with the 2022 football World Cup is leading the project. The airline has already announced a deal as title sponsor of this summer’s British and Irish Lions tour to Australia. Qatar’s move into rugby is partly an acknowledgment that their neighbours Saudi Arabia will dominate the football landscape over the next decade after winning the right to stage the 2034 World Cup and agreeing several sponsorship and broadcasting deals with Fifa. Saudi money is also increasingly prominent in boxing, Formula One, golf and tennis, but the Kingdom has not followed up on initial talks about investing in rugby.<br/>