Bill Ackman rejigs Universal deal after regulators probe SPAC plan
Billionaire investor Bill Ackman will buy up to 10% of Vivendi’s (VIV.PA) Universal Music Group through his main hedge fund, rather than a special purpose acquisition company, after investors and regulators questioned his use of a SPAC.
ESG fever: share of sustainable fund trading soaring in 2021
The rush to invest in exchange-traded funds focusing on environmental, social and governance (ESG) issues jumped in the first half of 2021, with monthly turnover more than tripling to nearly 3 billion euros from a year ago, Deutsche Boerse said on Wednesday.
Musk defends timing of Tesla’s $2.6 bln deal for SolarCity
Elon Musk told a judge on Tuesday Tesla Inc (TSLA.O) had to buy SolarCity in 2016 because the failing solar panel company was essential to the electric vehicle maker’s long-term goal of accelerating the transition to sustainable energy.
Nikola shareholders reject executive pay proposal
Shareholders of Nikola Corp (NKLA.O) have voted against a proposal to approve compensation awarded to its “named executive officers,” including $159.2 million to founder and former executive chairman Trevor R. Milton that was later reduced, the electric truck maker said on Tuesday.
EXCLUSIVE Weibo chairman and state firm plan to take China’s Twitter private -sources
Weibo Corp (WB.O) Chairman Charles Chao and a state investor are in talks to take the Nasdaq-listed Chinese social media company private in a deal that could value it at $20 billion-plus, sources close to the matter told Reuters.
Sainsbury’s focus is on strategy, not takeover frenzy
The boss of Sainsbury’s (SBRY.L) said on Tuesday his focus was on delivering the British supermarket group’s strategy rather than the takeover frenzy that has gripped the sector.
Little Engine No. 1 beat Exxon with just $12.5 mln – sources
Activist investor Engine No. 1 spent roughly $12.5 million to win three board seats at Exxon Mobil Corp(XOM.N), less than half its originalbudget, for the year’s biggest and most closely watched corporate contest, people familiar with the number said.
Tencent-backed Linklogis, Sunway to jointly seek Malaysia digital bank licence-sources
Malaysian conglomerate Sunway Bhd (SWAY.KL) has teamed up with Tencent-backed Chinese fintech firm Linklogis Inc (9959.HK) and Bangkok Bank PCL (BBL.BK) to apply for a Malaysian digital bank licence, two sources with knowledge of the matter said.
MUFG board beats back climate resolution as activists falter in Japan
Mitsubishi UFJ Financial Group (8306.T) shareholders on Tuesday defeated a proposal for the bank to align its business with global targets on climate change, dealing a win for the board over investors pushing for more action on the environment.
Goldman, Blankfein, Cohn must face shareholder lawsuit over 1MDB scandal
Goldman Sachs Group Inc (GS.N) and two former top executives were ordered by a U.S. judge on Monday to face a lawsuit accusing them of misleading shareholders about the bank’s work for 1MDB, a Malaysian fund that became embroiled in a corruption scandal.
