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Large win yesterday for local weather change activists who dealt ExxonMobil management a “beautiful defeat” when shareholders “elected not less than two board candidates nominated by activist buyers who pledged to steer the corporate towards cleaner vitality and away from oil and gasoline” – NYTimes and WSJ and NewYorker and CNN and HuffPost
Across the similar time in The Hague, a Dutch courtroom dominated that Royal Dutch Shell “is partially accountable for local weather change and ordered the corporate to scale back its carbon emissions, a first-of-its-kind ruling that provides contemporary strain on oil-and-gas corporations already dealing with heightened scrutiny from governments and buyers” – WSJ and NYTimes and Bloomberg and MarketWatch and Law360
SDNY Federal Chapter Decide Robert Drain prompt this week that he “would allow Purdue Pharma’s proposal to remake itself as a nonprofit firm to be put to a vote by 1000’s of plaintiffs, who’ve sued the compel the maker of OxyContin to assist pay for the horrible prices of the opioid epidemic” – NYTimes and Law360
The DOJ has opened a probe into the “market-rattling meltdown” of Archegos Capital Administration in March, although it’s unclear at this stage “what potential violations or entities authorities are inspecting” – Bloomberg and WSJ
HSBC has struck offers with Residents Monetary and Cathay Basic to promote the overwhelming majority of its retail branches within the U.S. as a part of a shift in focus “to wealth administration and worldwide banking, particularly in Asia” – WSJ and Bloomberg and MarketWatch
Remaining particulars on Amazon’s $8.45 billion deal for Metro-Goldwyn-Mayer, the “97-year-old movie and tv studio,” in a transfer probably pushed by Amazon’s need to bolster its Prime Video choices “at a time when the largest old-line studios have gotten much less keen to license their libraries to exterior streaming companies” – NYTimes and WSJ and Bloomberg and Law360 and TechCrunch
Russian regulators are taking a web page out of China’s playbook and more and more pressuring Huge Tech corporations like Google, Twitter, and Fb “to fall according to Kremlin web crackdown restrictions contained in the nation” aimed toward eliminating anti-government content material or “danger restrictions contained in the nation” – NYTimes
In Europe, against this, the warmth coming for Fb (within the type of the bloc’s “first formal antitrust investigation” into Zuck & Co) is all about how “Fb allegedly favors Market . . . on the expense of different corporations that promote merchandise by Fb” – WSJ
Nasdaq has requested the SEC to finish its apply of setting “worth ceilings on direct listings that elevate capital,” arguing that “the transfer would put the fundraising automobiles on degree floor with the normal IPO” – Law360
Possible inspired by a scorching reception to its F-150 Lightning pickup (it’s accepted 70okay reservations since introducing the Lighting to the world final week), Ford Motor Firm has upped its dedication to spending on electrical automobiles to $30 billion “within the 5 years ending in 2025, up from the earlier goal of $22 billion” – NYTimes and WSJ and TechCrunch
Remembering the gifted Eric Carle with this Atlantic piece on how his Very Hungry Caterpillar e-book—launched greater than 50 years in the past—grew to become a traditional that has an “enduring attraction” – TheAtlantic
Take pleasure in a well-earned Memorial Day weekend. We’ll see you vibrant and early on Tuesday to usher in June. Till then, keep secure and get vaxxed,
MDR
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