Reuters Select: Goldman Sachs resolves its shareholders’ resolutions one way or another
Goldman Sachs resolves its shareholders’ resolutions one way or another
For the first time in more than a decade, Goldman Sachs has avoided proxy battles with activist shareholders by convincing investors and securities regulators that voting on several proposed corporate policy changes were unnecessary. In at least two cases, shareholders withdrew proposals after Goldman made concessions. In three other cases, the Securities and Exchange Commission agreed with the bank’s view that the proposals were not worth including. This is unusual, say Reuters’ Olivia Oran and Ross Kerber.
How banks lost the ear of Britain’s government over Brexit
Banks used to have a cozy relationship with Britain’s government. Now they say they are struggling to be heard as the country prepares to leave the EU. Reuters’ Andrew MacAskill, Anjuli Davies and Huw Jones report.
Just for the drill of it all: U.S. shale leaves thousands of wells unfinished
U.S. shale producers are drilling at the highest rate in 18 months but have left a record number of wells unfinished in the largest oilfield in the country – a sign that output may not rise as swiftly as drilling activity would indicate. Reuters’ Devika Krishna Kumar reports.
No reason to withdraw stimulus now: Bank of Japan chief Kuroda
Bank of Japan Governor Haruhiko Kuroda said there is “no reason” to raise the bank’s bond yield targets now with inflation so far from its 2 percent target, offering his strongest denial to date of the chance of withdrawing its massive stimulus any time soon.
Speaking at a Reuters Newsmaker event, the former top Japanese currency diplomat also played down the risk that President Donald Trump’s administration will lean toward excessive protectionism. William Mallard and Leika Kihara report from Tokyo.
Advertisers threaten YouTube’s revenue over content
The decision by some consumer brands to pull advertising from Google’s YouTube over offensive content could threaten the site’s long-term strategy of taking ad dollars from television, analysts and ad industry professionals told Reuters.
Sears brands are old, reliable and losing value
Sears’ plan to avoid bankruptcy in part by selling off or licensing brands including Kenmore and DieHard may prove difficult because of changing consumer tastes and possible legal roadblocks. The trouble: while Sears brands Craftsman, Kenmore and DieHard are worth up to $3 billion, say analysts, their value is falling. Sears brands, experts tell Reuters’ Jan Wolfe, are hampered by a perception that they are yesterday’s names.
The tax overhaul that ruined our relationship
A tax overhaul proposed by Republican leaders in Congress would deepen divisions between big manufacturers like Boeing and the thousands of smaller companies that supply them, suppliers and tax and trade experts told Reuters’ Alwyn Scott.
Americans tire of watching the second hand move
Swiss watchmakers expect the market to stay challenging this year with the United States, their second-biggest market, showing no signs of recovering, executives told Reuters’ Silke Koltrowitz at an industry fair in Basel.
Reuters photo of the day
Everyone’s a camerman