The Presidential Daily Brief

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    Norwegian Fund Calls for Tax Transparency, CEO Pay Caps

    When they talk, people listen. At $910 billion, Norway’s sovereign wealth fund is the world’s largest — and it doesn’t often make recommendations. But now leader Yngve Slyngstad says there’s a “need for change,” and the fund will be pushing for companies to set CEO salary caps and phase out long-term executive incentive plans. It’s also announced plans to lead the charge against international tax havens, insisting that companies should pay taxes where they generate value, after Norway’s government tasked the fund with encouraging global vigilance and transparency.

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