The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sector this year, spiked on Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
The subpoeana from Manhattan District Attorney's Cyrus Vance Jr.'s , for President Donald Trump's tax returns, was issued last month to Trump's accounting firm, Mazars.Politicsread more
While the UAW has rejected the offer and sent roughly 48,000 of its workers out on strike, the EV truck is widely expected to remain part of an eventual settlement.Autosread more
While markets await a Saudi update, investors are likely asking how the kingdom left itself so vulnerable, and what it means for the future.Energyread more
The new chief of the Federal Aviation Administration says he plans to test out Boeing's software changes to the 737 Max in a simulator.Airlinesread more
Proxy advisory group ISS has urged Twenty-First Century Fox Inc shareholders to vote against the reelection of Chairman Rupert Murdoch and some other board members at an annual shareholders meeting this month, criticizing the company's adoption of a poison pill.
News Corp in May put in place a poison pill provision for one year after the splitting off its media and entertainment businesses, seeking to prevent hostile takeovers. It will be triggered if someone acquires more than 15 percent of the stock of either company.
Saying the company should have put the plan to a shareholder vote, Institutional Shareholder Services called for an independent board chairman to replace Murdoch.
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It also recommended voting against his sons James and Lachlan Murdoch, 21st Century Fox executive Chase Carey, as well other nominees David DeVoe, Roderick Eddington, James Breyer, Viet Dinh and Alvaro Uribe.
But it endorsed independent directors Delphine Arnault, Jacques Nasser, and Robert Silberman.
Twenty-First Century Fox countered that the current board had delivered good returns for shareholders and had strengthened corporate governance.
"ISS' proxy analysis is completely out of touch with reality given the incredible value created under the leadership of 21st Century Fox's returning director nominees," company spokesman Nathaniel Brown wrote in an email.
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This year's shareholder meeting will be held on October 18 in Los Angeles.
ISS' recommendations are a reversal from last year when it endorsed the controlling Murdoch family.
The year before that, the UK phone hacking scandal that engulfed News Corp prompted the proxy advisor to urge investors to vote against its directors. Shareholders reelected the board that year and failed to approve a proposal to oust Rupert Murdoch from his chairman post.
ISS also said on Tuesday that the company's slow response to allegations of illegal phone hacking in United Kingdom may concern some shareholders. 21st Century Fox's Brown responded that ISS has a "disproportionate focus on historical matters."
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News Corp has a history of potential takeovers. In 2004, Liberty Media Corp's John Malone quietly snapped up a 20 percent voting stake in the company. The move prompted Murdoch to swap his stake in DirecTV and other assets for Malone's shares in News Corp.
The media and entertainment business of the former News Corporation has been trading separately from Murdoch's publishing assets since the end of June. Rupert Murdoch controls both companies through his roughly 40 percent stake in Class B voting shares.