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May 24, 2022

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Euronav shareholders signal support for Frontline merger

Reuters
May 19 (Reuters) – Belgian oil tanker and storage operator Euronav (EUAV.BR) said on Thursday it had received “a clear signal” from shareholders in support of its proposed $4.2-billion merger with smaller Oslo-listed rival Frontline (FRO.OL). Since the announcement on April 7 of the planned merger, Euronav has clashed with......

Tesla cut from S&P 500 ESG Index, and Elon Musk tweets his fury

Reuters
May 18 (Reuters) – An S&P Dow Jones Indices executive told Reuters on Wednesday it has removed electric carmaker Tesla Inc (TSLA.O) from the widely followed S&P 500 ESG Index (.SPXESUP)because of issues including claims of racial discrimination and crashes linked to its autopilot vehicles, and Tesla CEO Elon Musk......

Kohl’s loses two senior executives as it looks for a buyer

Reuters
The sign outside a Kohl’s store is seen in Broomfield, Colorado February 27, 2014. REUTERS/Rick Wilking Register now for FREE unlimited access to Reuters.com Register May 18 (Reuters) – Kohl’s Corp (KSS.N) said on Wednesday two of its senior executives are stepping down from their roles, as the U.S. department......

Crypto exchange FTX CEO reveals stake in trading app Robinhood

Reuters
The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company’s IPO in New York City, U.S., July 29, 2021. REUTERS/Andrew Kelly Register now for FREE unlimited access to Reuters.com Register May 12 (Reuters) – Samuel Bankman-Fried, the chief executive and founder of......

Egan-Jones backs 4 of Macellum’s dissident board director candidates at Kohl’s

Reuters
The logo and trading informations for Kohl’s is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., January 13, 2020. REUTERS/Brendan McDermid Register now for FREE unlimited access to Reuters.com Register NEW YORK, May 9 (Reuters) – Proxy advisory firm Egan-Jones......

Suncor CEO Little faces scrutiny after activist Elliott takes aim

Reuters
May 8 (Reuters) – Three months ago Mark Little, the chief executive of Canadian oil and gas major Suncor Energy (SU.TO), issued a mea culpa. In January two trucks had crashed at an oil sands mine in northern Alberta, killing one person. This raised the number of on-the-job fatalities at......

Activist firm Elliott pushes Western Digital to split its businesses

Reuters
May 3 (Reuters) – Elliott Management on Tuesday disclosed it held a stake of nearly $1 billion in Western Digital and pushed the company to conduct a strategic review and split off its flash-memory business. New York-based Elliott, one of the world’s most prominent activist investors, argued in a letter......

Glass Lewis urges Kohl’s shareholders to back management directors

Reuters
The Kohl’s label is seen on a shopping cart in a Kohl’s department store in the Brooklyn borough of New York, U.S., January 25, 2022. REUTERS/Brendan McDermid Register now for FREE unlimited access to Reuters.com Register BOSTON, May 3 (Reuters) – Proxy advisory firm Glass Lewis on Tuesday recommended that......

HSBC shares edge up after top shareholder urges bank’s break-up

Reuters
SINGAPORE, May 3 (Reuters) – Shares in HSBC Holdings rose in Hong Kong trade on Tuesday after its largest shareholder, Chinese insurance giant Ping An (601318.SS), called for a break-up of the London-headquartered bank. Sources familiar with the situation said on Friday Ping An had urged HSBC to look at......

Activist investor Ancora asks Hasbro to sell Entertainment One unit – letter

Reuters
The Hasbro, Inc. logo is seen on a toy for sale in a store in Manhattan, New York, U.S., November 16, 2021. REUTERS/Andrew Kelly Register now for FREE unlimited access to Reuters.com Register May 2 (Reuters) – Activist investor Ancora Holdings Inc wants toymaker Hasbro Inc (HAS.O) to explore a......

Berkshire shareholders vote to keep Buffett as chairman, reject climate disclosures

Reuters
OMAHA, Neb., April 30 (Reuters) – Berkshire Hathaway Inc (BRKa.N) shareholders on Saturday rejected proposals to have an independent chair replace Warren Buffett, and require his company to disclose more about its climate-related risks and efforts to improve diversity. Shareholders supported letting Buffett keep both the chairman and chief executive......

Unilever warns of more price hikes as cost pressures build

Reuters
Unilever logo is displayed in this illustration taken on January 17, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register Q1 underlying sales up 7.3% vs forecast up 4.4% Q1 prices up 8.3%, volumes down 1% Raises H2 cost inflation forecast to 2.7 bln euros April 28......

Nasdaq tumbles to lowest close since late 2020

Reuters
Microsoft, Alphabet drop ahead of reports after the bell GE down after it sees 2022 earnings at lower end of forecast Tesla tanks a day after Musk clinches deal to buy Twitter Indexes: Dow -2.38%, S&P 500 -2.81%, Nasdaq -3.95% April 26 (Reuters) – Wall Street ended sharply lower on......

U.S., allies promise heavy arms for Ukraine, shrug off Russian nuclear war warning

Reuters
In shift, Germany offers anti-aircraft tanks to Ukraine Concern for Moldova after blasts in separatist region Lavrov: NATO support for Ukraine could lead to WWIII RAMSTEIN AIR BASE, Germany/KYIV, April 26 (Reuters) – The United States and its allies pledged new packages of ever heavier weapons for Ukraine during a......

Ackman gives up on Netflix, taking $400 mln loss as shares tumble

Reuters
April 20 (Reuters) – Billionaire investor William Ackman liquidated a $1.1 billion bet on Netflix (NFLX.O) on Wednesday, locking in a loss of more than $400 million as the streaming service’s stock plunged following news that it lost subscribers for the first time in a decade. Ackman’s hedge fund Pershing......

CalPERS to vote to replace Buffett as Berkshire chairman

Reuters
April 19 (Reuters) – CalPERS, the largest U.S. public pension fund, on Tuesday said it will vote for a shareholder proposal that Berkshire Hathaway Inc (BRKa.N) replace Warren Buffett as chairman, though he would remain chief executive officer. The fund, whose full name is the California Public Employees’ Retirement System,......

Southwest Gas Holdings to consider sale after another acquisition bid

Reuters
REUTERS/Gary Cameron/File Photo Register now for FREE unlimited access to Reuters.com Register April 18 (Reuters) – Southwest Gas Holdings Inc (SWX.N) said on Monday it would evaluate selling itself, among other alternatives, after an unnamed potential buyer showed interest in acquiring the utility at a price “well in excess” of......

Japan’s SMFG, Tepco, Mitsubishi face activist climate votes at AGMs

Reuters
TOKYO, April 13 (Reuters) – Big Japanese firms including Sumitomo Mitsui Financial Group (8316.T), Tokyo Electric Power (Tepco) (9501.T) and Mitsubishi Corp (8058.T) will face resolutions from activist shareholders urging greater commitment to tackling climate change at their annual meetings this year. Five climate activist groups, including Japan’s Kiko Network......

EXCLUSIVE Franchise Group joins bidding for Kohl’s

Reuters
April 12 (Reuters) – Franchise Group Inc (FRG.O), owner and operator of retail stores such as The Vitamin Shoppe and Buddy’s Home Furnishings, has entered the race for Kohl’s Corp (KSS.N) with a $9 billion indicative offer, three people familiar with the matter said. Franchise Group has informed Kohl’s it......

Flighty Musk exposes Twitter’s flaky governance

Reuters
NEW YORK, April 11 (Reuters Breakingviews) – Twitter’s history is as rich in plot twists as a soap opera, but the short-lived episode of Elon Musk joining and then deciding not to join the social media firm’s board has once again exposed its flaky governance. The world’s richest man on......

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