Business

New Exxon board member Hietala brings business transformation experience

Exxon Mobil’s newly elected board member Kaisa Hietala says her work at Finnish refiner and biofuel producer Neste makes her more than just a champion of biofuels, she also has experience transforming a business. Tiny hedge fund Engine No. 1 led a shareholder revolt last week to unseat three directors on Exxon’s board and replace […]

Business

Oil steady after mixed U.S. crude inventory report

Oil prices steadied on Thursday following two straight days of gains that took oil futures to highs not seen in a year, after weekly U.S. crude stocks fell sharply while fuel inventories rose more than expected. Brent futures settled at $71.31 a barrel, down 4 centsafter touching its highest since May 2019 earlier in the […]

Business

New blood at Wall Street’s old guard rattles Corporate America

A new generation of executives at the world’s biggest asset managers is helping drive an uprising against Corporate America that environmental and social justice activists have long campaigned for. The big mutual fund firms, whose stock holdings amount to trillions of dollars, used to be loyal members of the corporate establishment. They cast their votes […]

Business

JPMorgan names global co-heads for investment banking group

JPMorgan & Chase Co has named three global co-heads to lead the part of its investment bank which advises other financial institutions on mergers, acquisitions and capital raises, according to an internal memo seen by Reuters. Jared Kaye, Laurent Nevi and John Purcell will jointly lead the Wall Street bank’s FIG industry group, according to […]

Business

Ryanair says first 737 MAX delivery delayed by Boeing, FAA issue

Ryanair RYA.I may decline to accept delivery of its first Boeing 737 MAX jet until after the summer following a delay caused by paperwork related to a version of the jet designed for the airline, a senior executive said on Thursday. The Irish airline, the largest European customer for the MAX, is still waiting for […]

Business

With AMC shares sky-high, ‘gamma squeeze’ less of a driving force

The meteoric rise in shares of AMC Entertainment Holdings Inc may have diminished an important options market force that helped fuel its recent gains, analysts said. Bullish options bets that would profit if AMC’s shares traded in the $40 to $70 range drew a huge influx of buying in recent days, with millions of contracts […]

Business

U.S. Treasury updates list of Chinese entities hit by investment ban

The U.S. Treasury Department is updating a government list of Chinese companies and entities with alleged ties to defense or surveillance technology sectors, making them subject to a U.S. investment ban. Below is a list of the Chinese entities published on Thursday by the Treasury. For a previous list of companies published by the Defense […]