Amazon shareholders will challenge the company on executive pay, tax transparency, working conditions and unionisation, as chief executive Andy Jassy faces his first annual meeting at the helm of the ecommerce and cloud computing giant. The $1tn tech company is opposing all 15 of the shareholder proposals, the most it has faced since 2010, according … Read more
LONDON — European stocks are expected to open lower Tuesday as U.S. markets struggle to maintain a comeback rally. The U.K.’s FTSE index is seen opening 35 points lower at 7,468, Germany’s DAX 47 points lower at 14,099, France’s CAC 40 down 28 points at 6,310 and Italy’s FTSE MIB 168 points lower at 23,945, according … Read more
A year ago, Chris James was storming the barricades at ExxonMobil. His little activist hedge fund Engine No. 1 was pushing for four seats on the board of the conservative oil supermajor — and won three of them. As Exxon again counts shareholder votes at its annual meeting this Wednesday, James sounds pleased. The company’s … Read more
Commodity funds are making a comeback after years out of favour, as institutional investors seek hedges against stubbornly high global inflation. Investment vehicles tied to raw materials such as oil and wheat drew in net inflows of $38.7bn in the year to May 10, building on weekly inflow highs through March, according to data from … Read more
Real estate and related industries account for more than a quarter of China’s economy, according to Moody’s estimates. CFOTO | Future Publishing | Getty Images BEIJING — Chinese real estate defaults have increased so much that Goldman Sachs analysts have shifted to their worst-case scenario for the riskiest part of the market. Twenty-two China high-yield … Read more
Broadcom is in talks to pay around $60 billion for VMware people familiar with the matter said, in what would be one of the biggest takeover deals of the year. The two technology companies are aiming to announce a cash-and-stock deal worth about $140 a share on Thursday, assuming the talks don’t fall apart, the … Read more
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As Covid-19 cases decline in major Chinese cities and consumption in the country is expected to rebound in the weeks ahead, JPMorgan names four e-commerce stocks set to benefit as growth returns to a more normalized level. “We believe we will see a rebound in consumption in late 2Q22 or 3Q22, when the total ecommerce … Read more
SINGAPORE — Markets in Asia-Pacific were subdued in early trade on Tuesday, as investors weighed a possible thawing of U.S.-China trade relations as U.S. President Joe Biden floated the idea of tariff cuts on Chinese goods. In Japan, the Nikkei 225 was down 0.4% in early trading, while the Topix was lower by 0.2%. South … Read more
Automakers are increasingly piling into EV battery production, but Bernstein thinks these pure-play battery stocks will continue to dominate. “Vertical integration by auto OEMs’ [original equipment manufacturer] upstream into battery production is a risk to pure play battery makers and under increased discussion given some of the investments being made by industry players,” Bernstein’s analysts, … Read more