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HONG KONG • A boardroom battle at China's leading property developer is into its seventh month, exposing tensions between state control and market forces, and Beijing now appears to have had enough, executives and market experts say.. Read more at straitstimes.com.
An analysis of resolutions filed by activist investors.
Starbucks is boosting the base pay of all employees and store managers at U.S. company-run stores by 5 percent or more. In a letter sent to workers Monday, CEO Howard Schultz said that the amount of the raise — which will occur in October— will be determined by geographic and market factors.
The decision by the United Kingdom (UK) to leave the European Union (EU) will have far-reaching consequences for companies doing business in the UK and elsewhere in Europe. Specific details of the UK’s withdrawal agreement with the EU will be the subject of intense negotiation over the next two years or longer, but the current key takeaways for businesses as they relate to antitrust concerns are:
Our forthcoming article in the American Economic Review (May Issue), Women on boards in Finance and STEM industries, is the first in a series of papers in which we connect two policy debates that are usually conducted separately: the debate about women’s underrepresentation in STEM fields and the debate about women’s underrepresentation on corporate boards (see also Adams and Kirchmaier, 2016).
In about two weeks, shareholders will be asked to vote on a transaction whereby the chief executive plans to acquire the company
The Securities and Exchange Commission is investigating whether Tesla Motors Inc. breached securities laws by failing to disclose a fatal crash in May involving an electric car that was driving itself, a person familiar with the matter said, heightening scrutiny of how the Silicon Valley company handled the information.
Following Maria Vullo’s confirmation as Superintendent earlier this month, the New York Department of Financial Services (“DFS”) yesterday finalized its closely watched proposed regulation on anti-money laundering (AML) monitoring and sanctions screening requirements for banks, branches, and other covered entities. According to DFS, the final regulation is motivated by its identification, through investigations, of shortcomings in monitoring and screening programs attributable to a “lack of robust governance, oversight, and accountability at senior levels.”
This post provides an overview of shareholder proposals submitted to public companies for 2016 shareholder meetings, including statistics, notable decisions from the staff of the Securities and Exchange Commission on no-action requests, and information about litigation regarding shareholder proposals. All shareholder proposal data in this post is as of June 1, 2016 unless otherwise indicated.
Amazon’s market cap hits $350 billion for the first time on Friday.
Among investors in the largest U.S. companies, no pay package is less popular than the one given to Bed Bath & Beyond Inc. Chief Executive Officer Steven Temares.
An increase in settlements between public companies and activist investors that have targeted a campaign against a company has been widely reported. An increase in the speed with which these settlements occur—meaning the number of days a settlement is reached after an activist initiates a campaign—has also been widely reported.
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Theresa May's proposals to shake up executive pay and governance have been given the seal of approval by a leading business group.
Johnson Controls Inc agreed topay $14.4 million to settle U.S. regulatory charges that itsworkers bribed Chinese shipbuilders and shipyards, includingsome owned by the Chinese government, to win business and enrichthemselves.
British luxury brand Burberry said Marco Gobbetti, boss of French brand Céline, will succeed Christopher Bailey as CEO next year
On June 30, 2016, the Delaware Chancery Court extended the Supreme Court’s holding in Corwin v. KKR Financial Holdings LLC, 125 A.3d 304 (Del. 2015), to two-step mergers under DGCL § 251(h). The Chancery Court concluded that acceptance of a first-step tender offer by a fully informed and uncoerced majority of disinterested stockholders insulates a two-step merger from challenge except on the ground of waste, even if a majority of directors were not disinterested and independent.
Businesses offer lukewarm response to proposals including workers on boards and legally binding shareholder votes on pay
CIO said he expects the Bank of England to cut interest rates to zero from current all-time low of 0.5 per cent
Activism Grows But Also Slows by Activist Insight A rise in the number of companies targeted hides a drop in activity by primary focus activist funds
Large banks will be less constrained in returning capital to shareholders based on this year’s Dodd-Frank Act Stress Test (DFAST). The DFAST results published last Thursday are the Federal Reserve’s (Fed) first stress test results released in 2016. On June 29th, the Fed will release the more important Comprehensive Capital Analysis and Review (CCAR) results. Those will indicate whether the banks passed both the Fed’s qualitative and quantitative assessments in order to return more capital to shareholders. [1]
America’s job market stirred to life in June as payroll growth accelerated by the most since October after a two-month lull, assuaging fears of broader cutbacks by companies.
The UK voters’ decision to exit the EU came as a surprise to many observers, as well as the markets, with the “Leave” campaign even hinting at defeat as the polls closed. The Wall Street echo chamber view that it would make no sense in the end for the UK to leave was just that.
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