PARIS (Reuters) – French media conglomerate Vivendi (VIV.PA) and activist fund Amber Capital – the two biggest shareholders in French company Lagardere (LAGA.PA) – said they would go to court over Lagardere’s refusal to hold a special shareholders meeting. The... More »
LONDON (Reuters) – British low-cost airline easyJet (EZJ.L) said in a regulatory filing on Tuesday that the Haji-Ioannou family now hold under 30% of the company. Stelios Haji-Ioannou founded easyJet, and along with family members remains its biggest sharehold... More »
(Reuters) – Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk said on Sunday that Sept. 15 is the tentative date for the company’s shareholder meeting and its “Battery Day” at which it is expected to reveal significant advances in battery technology. The ba... More »
HSINCHU, Taiwan (Reuters) – Taiwan Semiconductor Manufacturing Co Ltd (TSMC) (2330.TW) is still in talks with the U.S. government about subsidies for its new plant in Arizona, chairman Mark Liu said on Tuesday. “We hope federal and state governments could make... More »
BOSTON (Reuters) – Talks between First United Corp and Driver Management to settle a fight for board seats at the bank holding company broke down when the activist investor rejected the offer, two sources familiar with the matter said on Thursday. “Your ‘best ... More »
BOSTON/LONDON (Reuters) – The havoc wrought by the coronavirus crisis could give investors leverage to put new limits on CEO pay packages and link them more closely to a range of social and environmental issues at companies’ annual meetings this spring. Execut... More »
SEOUL (Reuters) – Technology giant Samsung Electronics has adopted electronic voting for the first time ever for this year’s annual general meeting (AGM) on March 18, urging shareholders to use it to help curb the spread of coronavirus. Samsung’s AGM is taking... More »
NEW YORK (Reuters) – Blackstone Group Inc and Apax Partners LLP are among the buyout firms that have had to delay their annual meetings with their private equity fund investors or carry them out remotely because of travel restrictions imposed amid the global o... More »
COLORADO SPRINGS, Colo. (Reuters) – Specialized fund managers who pioneered green investing for decades are missing out on some of the spoils as the sector goes mainstream and large firms move in. So-called sustainable funds, which pick stocks based on environ... More »
BOSTON (Reuters) – The Los Angeles fire and police pension system voted to terminate Fisher Investments on Thursday over allegedly sexist comments made by founder Ken Fisher earlier this month. Five of the system’s nine commissioners voted during a webcast mee... More »
BOSTON (Reuters) – Two new BlackRock Inc funds that exclude gun makers are off to slow starts as socially-minded investors embrace other products addressing a wide range of issues like environmental and governance concerns, according to flow data at the world’... More »
BOSTON (Reuters) – HomeStreet Inc defeated Roaring Blue Lion Capital Management’s campaign to unseat one director and install its own candidate, ending a two-year standoff between the financial services company and the activist investor, the company said on Th... More »
TOKYO (Reuters) – Most investors in SoftBank Group Corp’s $100 billion Vision Fund want to join the group’s forthcoming second fund, and discussions with those investors will begin soon, SoftBank founder and Chief Executive Masayoshi Son said on Wednesday. The... More »
(Reuters) – Amazon.com Inc shareholders overwhelmingly rejected a proposal that the company stop selling facial recognition technology to government agencies, while a resolution to audit the service drew more support, a regulatory filing on Friday showed. Some... More »
BOSTON (Reuters) – Top U.S. pension funds are asking electric utilities to accelerate efforts to cut carbon emissions but will not force the issue with proxy resolutions this spring, hoping market shifts and falling prices for renewable energy have already mad... More »
BOSTON (Reuters) – Top asset manager BlackRock Inc (BLK.N) has hired Ray Cameron as head of the Americas within its investment stewardship arm, according to a memo seen by Reuters on Thursday, turning to an outsider to fill the role left vacant since last year... More »
BOSTON (Reuters) – Some small investors who want to give a piece of their minds to big tech company directors are losing their only chance: many board members are skipping annual shareholder meetings. Companies that hold meetings online have some of the worst ... More »
(Reuters) – Tesla Inc (TSLA.O) Chief Executive Elon Musk faces votes at Tuesday’s shareholder meeting that will challenge his grip on the electric carmaker, but he may be able to count on some powerful friends: big fund managers likely to be fans. These stockp... More »
OSLO (Reuters) – Norway’s $1 trillion wealth fund voted against a motion at Shell’s annual meeting urging the energy giant to set climate targets, despite a push the fund is making for more firms to do so. Long-term investors with $10.4 trillion of assets unde... More »
FRANKFURT (Reuters) – Deutsche Bank (DBKGn.DE) plans to cut 10,000 jobs, or about a tenth of its global workforce, as part of efforts to reduce costs, a person with knowledge of the matter said on Wednesday. The German bank’s supervisory board met on Wednesday... More »
BOSTON (Reuters) – Proxy adviser Institutional Shareholder Services (ISS) recommended on Friday that investors vote against Tesla Inc (TSLA.O) directors Antonio Gracias and James Murdoch, increasing pressure on the car maker over their roles on its board. ISS ... More »
BOSTON (Reuters) – Several socially conscious investment firms are selling or rethinking their Facebook Inc holdings, unsatisfied by the company’s moves to strengthen personal data protection and online safety after scandals involving the improper sharing of u... More »
(Reuters) – (This May 9 story has been refiled to correct name of organization to “Catholic Health Initiatives” from “Catholic Health Services” in thirteenth paragraph.) A majority of Sturm Ruger & Co investors on Wednesday voted to support a call for the gun ... More »
BOSTON (Reuters) – Wells Fargo & Co on Thursday said a cap on the bank’s growth imposed by regulators after sales practices scandals would hurt earnings less than it thought this year, and forecast 2019 expenses below Wall Street expectations. Analysts were up... More »
ZURICH (Reuters) – Credit Suisse still has work ahead after making good progress towards achieving targets set for a three-year turnaround, Chairman Urs Rohner told the group’s annual general meeting on Friday. “Quite clearly, we still have plenty of work to d... More »
BOSTON (Reuters) – A union of Caesars Entertainment Corp employees on Thursday asked its board to remove several private equity representatives from the compensation committee, citing high pay for top executives as Caesars’ operating unit emerged from bankrupt... More »
BOSTON (Reuters) – Proxy adviser Institutional Shareholder Services on Wednesday recommended investors vote to support a shareholder proposal calling for gunmaker Sturm Ruger & Co to report on gun safety, which could put new attention on so-called “smart gun” ... More »
BOSTON (Reuters) – An estimated 24 percent of the world’s exchange-traded funds and 15 percent of mutual funds have holdings in firearms companies, researcher Sustainalytics said in a report on Thursday, levels it said might be “more pervasive than some invest... More »
BOSTON (Reuters) – BlackRock Inc (BLK.N) on Thursday called on securities regulators to set international standards for shareholder voting rights, suggesting they resolve one of the thorniest debates in corporate governance. The world’s largest asset manager m... More »
LONDON, AMSTERDAM (Reuters) – Activist investor CIAM has criticized plans by Dutch food and retail group Ahold Delhaize (AD.AS) to renew a governance structure that it said acts as a “poison pill” to potential suitors and has served to keep its share price dep... More »
FILE PHOTO: The logo of Xerox company is seen on a building in Minsk, Belarus, March 21, 2016. REUTERS/Vasily Fedosenko/File Photo (Reuters) – Hedge fund manager Darwin Deason filed a new lawsuit against Xerox Corp (XRX.N) on Friday after it refused to allow h... More »
Volvo Cars CEO Hakan Samuelsson shows their new model V60 station wagon at a press meeting outside Stockholm, Sweden February 21, 2018. TT News Agency/Henrik Montgomery/ via REUTERS STOCKHOLM (Reuters) – Truckmaker AB Volvo (VOLVb.ST) is to drop the CEO of Gee... More »
FILE PHOTO: The General Electric logo is pictured on the General Electric offshore wind turbine plant in Montoir-de-Bretagne, near Saint-Nazaire, western France, November 21, 2016. REUTERS/Stephane Mahe/File Photo (Reuters) – General Electric Co (GE.N) on Mond... More »
((This Feb. 22 story corrects paragraph 4 to clarify NBIM’s partnership with Crown Estate)) By Noor Zainab Hussain and Esha Vaish (Reuters) – The sovereign wealth fund of Norway bought a 245 million pounds ($342 million) stake in British property group Shaftes... More »
FILE PHOTO: A sign on the Qualcomm campus is seen in San Diego, California, U.S. November 6, 2017. REUTERS/Mike Blake/File Photo (Reuters) – U.S. semiconductor company Qualcomm Inc should try to negotiate a sale to Broadcom Ltd following the latter’s sweetened... More »
FILE PHOTO: The seal of the U.S. Securities and Exchange Commission hangs on the wall at SEC headquarters in Washington, DC, U.S., June 24, 2011. REUTERS/Jonathan Ernst/File Photo BOSTON (Reuters) – A group representing large investors voiced concern that the ... More »
FILE PHOTO: A customer looks at her Apple iPhone X at an Apple store in New York, U.S., November 3, 2017. REUTERS/Lucas Jackson/File Photo BOSTON (Reuters) – Apple Inc was allowed to disregard one activist shareholder proposal on greenhouse gas emissions but t... More »
FILE PHOTO: A pilot disembarks a Ryanair flight at Stansted airport in London, Britain September 27, 2017. REUTERS/Clodagh Kilcoyne BERLIN (Reuters) – Ryanair’s efforts to avert its first ever pilots strike collapsed on Friday as pilots in Germany held a four-... More »
FILE PHOTO – New York State Comptroller Thomas DiNapoli speaks during an interview with Reuters in New York, October 18, 2010. REUTERS/Brendan McDermid (Reuters) – New York state Comptroller Thomas DiNapoli is asking Wells Fargo & Co (WFC.N) to disclose more i... More »
BOSTON (Reuters) – Proxy advisory firm Institutional Shareholder Services on Wednesday suggested shareholders back hedge fund Marcato’s choice of directors at Deckers Outdoor Corp, switching its recommendation after the U.S. fund made changes. In one of the se... More »
(Reuters) – Two proxy advisory firms on Friday weighed in on one of the year’s most bitter proxy battles with one backing UGG boot maker Deckers’ management and the other giving partial support to activist hedge fund Marcato Capital Management. Shareholders wi... More »
FILE PHOTO: The logo of Swiss specialty chemicals company Clariant is seen at the company’s headquarters in Pratteln, Switzerland October 29, 2017. REUTERS/Arnd Wiegmann ZURICH (Reuters) – Clariant (CLN.S) on Friday rejected its largest shareholder White Tale’... More »
SYDNEY (Reuters) – Shareholders of struggling Australian retailer Myer Holdings Ltd (MYR.AX) voted down its executive pay proposals on Friday, in a revolt led by billionaire investor Solomon Lew that put the board on notice to start delivering on its turnaroun... More »
Taxi app Uber [UBER.UL] lost a bid on Friday to overturn a decision by a tribunal which had said its drivers deserved workers' rights such as the minimum wage, in a blow to the company as it also battles to keep its license in London. More »
London Stock Exchange Group (LSE.L) will fix a date within three weeks for a shareholder vote on the removal of Chairman Donald Brydon and retention of CEO Xavier Rolet at the behest of activist investor TCI Fund Management, it said on Friday. More »
Proxy advisers Institutional Shareholder Services and Glass Lewis & Co each recently backed Vanguard Group Inc's management on fund trustee nominees and administrative items set for a rare shareholder vote next week, according to recommendations seen by Reuter... More »
Companies may have new grounds to keep shareholder proposals on social or ethical matters from coming to a vote at their annual meetings under guidance published late on Wednesday by the U.S. Securities and Exchange Commission. More »
Swiss specialty chemicals maker Clariant and Huntsman have agreed to abandon their proposed $20 billion merger, bowing to a growing number of shareholders who had joined activist investor White Tale to oppose the deal. More »
Uber's new global boss Dara Khosrowshahi will meet London's transport regulator on Tuesday as the taxi hailing app fights to keep its license in one of its most important foreign markets. More »
CBS Corp (CBS.N) will pay at least A$201.1 million ($162 million) in cash to buy Australian broadcaster Ten Network Holdings (TEN.AX), according to documents released on Monday by Ten's administrator. More »
Vanguard Group, one of the world's biggest fund managers, voted against three directors at Wells Fargo & Co this year, including Chairman Stephen Sanger, according to U.S. filings, a rare rebuke from the bank's second-largest shareholder. More »
FILE PHOTO – Nelson Peltz speaks at the WSJD Live conference in Laguna Beach, California October 25, 2016. Nelson Peltz’s Trian Fund Management LP said on Monday it was seeking a seat for its billionaire chief executive at Procter & Gamble Co’s (PG.N) board as... More »
FILE PHOTO – LeEco’s new Le Pro3 phone is on display during a press event in San Francisco, California, U.S. October 19, 2016. RETUERS/Beck Diefenbach An extraordinary shareholder meeting for the listed unit of indebted Chinese tech group LeEco ended amid prot... More »
FILE PHOTO: The sign of AkzoNobel is pictured at its headquarters in Amsterdam, The Netherlands, February 6, 2014. REUTERS/Toussaint Kluiters/United Photos/ X02506/File Photo Activist hedge fund Elliott Advisors has filed a second lawsuit in its attempt to ous... More »
FILE PHOTO: The logo of Takata Corp is seen on its display at a showroom for vehicles in Tokyo, Japan, February 9, 2017. REUTERS/Toru Hanai/File Photo Japan’s Takata Corp (7312.T), the airbag maker at the center of world’s largest automotive recall, has recomm... More »
Conveyors are seen at a Wal-Mart Stores Inc distribution centers in Bentonville, Arkansas June 6, 2013. REUTERS/Rick Wilking/File Photo GLOBAL BUSINESS WEEK AHEAD PACKAGE Ð SEARCH ÒBUSINESS WEEK AHEAD JULY 4Ó FOR ALL IMAGES – RTX2JK7F Wal-Mart Stores Inc execu... More »
The GM logo is seen at the General Motors Assembly Plant in Valencia, Venezuela April 21, 2017. REUTERS/Marco Bello Greenlight Capital’s plan to split up General Motors Co’s (GM.N) stock, as well as its challenge to the company’s board of directors, will come ... More »
Prudential Financial Inc shareholders on Tuesday approved the company’s compensation for executives and sided with directors in rejecting a proposal that would require an independent board chairman. More »
Drug company Innoviva Inc said on Thursday it would undertake a review of its costs, including executive compensation following pressure from activist investor Sarissa Capital Management LP. More »
The sign of AkzoNobel is pictured at its headquarters in Amsterdam February 6, 2014. REUTERS/Toussaint Kluiters/United Photos Dutch paint maker Akzo Nobel (AKZO.AS) said on Wednesday that it had received a request from a group of shareholders led by Elliott Ad... More »
FILE PHOTO: AkzoNobel’s logo is seen in Amsterdam, Netherlands, February 16, 2012. REUTERS/Robin van Lonkhuijsen/United Photos/File Photo Akzo Nobel (AKZO.AS) said it had reported one of its own biggest shareholders, Elliott Advisors, and its suitor PPG Indust... More »
A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith Proxy adviser Glass Lewis on Tuesday recommended that Wells Fargo & Co shareholders vote against six directors at an upcoming annual meeting, in protest of improper sal... More »
FILE PHOTO: A commuter passes by the New York Stock Exchange (NYSE) in the financial district in New York City, U.S., February 7, 2017. REUTERS/Brendan McDermid/File Photo Institutional Shareholder Services Inc, the world’s top proxy advisory firm, is making a... More »
Kwon Oh-Hyun, co-chief executive officer of Samsung Electronics Co., speaks during the company’s annual general meeting at the Seocho office building in Seoul, South Korea, on Friday, March 24, 2017. REUTERS/SeongJoon Cho/Pool Samsung Electronics Co Ltd (00593... More »
Consumers stand in front of an Oi store, Brazil’s largest fixed-line telecoms group, in Sao Paulo, Brazil June 24, 2016. REUTERS/Paulo Whitaker A new reorganization plan from Brazil’s debt-laden phone carrier Oi SA boosted shares on Thursday, but analysts cont... More »
A sign is displayed in the reception of Goldman Sachs in Sydney, Australia, May 18, 2016. REUTERS/David Gray/File Photo For the first time in more than a decade, Goldman Sachs Group Inc (GS.N) has managed to avoid any proxy battles with activist shareholders b... More »
The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst Shareholder activists are pushing back against a major business trade group’s request that the White House use i... More »
A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith Wells Fargo & Co’s board of directors awarded Chief Executive Timothy Sloan $12.8 million for his work last year, a 17 percent increase, despite scrapping executive bon... More »
Henderson Global Investors, a shareholder in Akzo Nobel (AKZO.AS), has called on the Dutch paint maker’s management to engage in takeover discussions with U.S. rival PPG Industries (PPG.N). More »
A CSX coal train (R) moves past an idling CSX engine at the switchyard in Brunswick, Maryland October 16, 2012. REUTERS/Gary Cameron The activist investor targeting U.S. railroad operator CSX Corp. (CSX.O) said in a letter to the company’s board on Thursday th... More »
The logo of U.S. technology company Apple is seen in Zurich, Switzerland April 5, 2016. REUTERS/Arnd Wiegmann Apple Inc’s board relaxed some rules for director nominations by outside investors but stopped short of broader changes sought by an activist sharehol... More »
The logo of Chipotle Mexican Grill is seen at a restaurant in Paris, March 7, 2016. REUTERS/Charles Platiau Bayliss and Lisa Baertlein More »
Wells Fargo bank teller machines are seen in San Francisco, California, U.S. October 10, 2013. REUTERS/Robert Galbraith /File Photo Federico Pena, a member of Wells Fargo’s board of directors and chairman of its corporate responsibility committee, has resigned... More »
FILE PHOTO — The logo of Brazil’s largest fixed-line telecoms group Oi is seen inside a shop in Sao Paulo October 2, 2013. REUTERS/Nacho Doce/File Photo Brazilian telecom provider Oi SA is set to file its bankruptcy reorganization plan with a Rio de Janeiro co... More »
Facebook Inc’s (FB.O) board has proposed removing Mark Zuckerberg’s majority voting control in the event of the social media giant’s chief executive and founder deciding to exit management at some point in future. In a proxy filing with the U.S. Securities and... More »
Time Inc (TIME.N) is considering partnering with a private equity firm on a bid for Yahoo Inc’s (YHOO.O) core Internet assets, according to people familiar with the matter, as the U.S. publishing company seeks to boost its digital presence. The deliberations o... More »
ZURICH Credit Suisse (CSGN.S) Chief Executive Tidjane Thiam received 18.9 million Swiss francs ($19.4 million) from the Swiss bank in 2015 even after he asked to have his bonus cut by 40 percent, according to its annual report published on Thursday. Thiam, who... More »
The U.S. Securities and Exchange Commission has ruled Exxon Mobil Corp must include a climate change resolution on its annual shareholder proxy, a defeat for the world’s largest publicly traded oil producer, which had argued it already provides adequate carbon... More »
Activist hedge fund Starboard Value LP, which is leading an investor revolt against Yahoo Inc’s (YHOO.O) management team, is seeking to remove the entire board of the struggling Internet company, the Wall Street Journal reported. The activist investor, which o... More »
BOSTON Media giant Viacom Inc said on Wednesday it cut the compensation of its top two executives, Executive Chairman Sumner Redstone and Chief Executive Philippe Dauman, as the company faced business pressures and a sharp drop in its share price. Although Via... More »
BOSTON Viacom Inc (VIAB.O) will allow investors to vote in March on a proposal to extend voting rights to all shareholders, though the measure is certain to fail as it is opposed by executive chairman Sumner Redstone’s holding company. Still, the vote will tes... More »
Sumner Redstone’s physicians have publicly attested that he is mentally capable, William Schwartz, chairman of Viacom (VIAB.O)’s governance and nominating committee, wrote in an e-mailed to Reuters Wednesday afternoon. “As has been widely and publicly disclose... More »
MILAN The chief executive of Telecom Italia Marco Patuano has the full support of the board as well as that of the head of its main shareholder Vivendi, a Telecom Italia board member said on Wednesday. Vivendi, whose chairman and top investor is influential Fr... More »
MILAN Telecom Italia said on Friday it would resume talks with the main shareholders of fiber optic company Metroweb over plans to build a broadband network in Italy. At stake in the negotiations is who will call the shots to implement the government’s 12-bill... More »
Time Warner Cable Inc’s shareholders approved the company’s $56 billion takeover by Charter Communications Inc, according to preliminary votes at a special shareholder meeting. Later on Monday, Charter also said more than 99 percent of the votes cast at its sp... More »
Former Wells Fargo chairman and chief executive Richard Kovacevich said that Bank of America shareholders are wrong to try to strip Bank of America CEO Brian Moynihan of his chairman title. Bank of America’s shareholders vote next week on whether CEO Moynihan ... More »
NEW YORK Some Bank of America Corp (BAC.N) officials told investors they could lose an upcoming shareholder vote on having Brian Moynihan continue as chairman and chief executive of the company, the Wall Street Journal reported on Sunday. The report, in a stor... More »
BOSTON/NEW YORK Big mutual funds are likely to vote later this month to allow Bank of America Corp Chief Executive Brian Moynihan to retain his chairman title, based on their voting history, governance experts said. That support could leave investors seeking t... More »
BOSTON Proxy adviser Institutional Shareholder Services on Friday recommended Bank of America Corp shareholders vote to strip Chief Executive Brian Moynihan of his additional title of chairman, joining a chorus of critics ahead of a Sept. 22 shareholder meetin... More »
BOSTON Investors in Discovery Communications Inc, including Manning & Napier Inc and BlackRock Inc, withheld support for a member of the company’s compensation committee, recent securities filings show, after the cable network operator gave its CEO the richest... More »
TOKYO Major U.S. proxy advisory firms are split over a proposal linked to activist investor Yoshiaki Murakami to shake up the board of Japanese mid-sized electronics parts maker and trader Kuroda Electric, leading to uncertainty over the move’s outcome. C&I Ho... More »
