After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
Trump said he has "been thinking about payroll taxes for a long time" — and he cautioned that "whether or not we do something now, it's not being done because of recession."Politicsread more
Secretary of State Mike Pompeo privately told business executives and free traders that the trade war could end by the 2020 election and that hurdles to an immediate agreement...2020 Electionsread more
Market bull Jeff Saut told CNBC on Tuesday that the lows are in and the market is headed "much higher."Marketsread more
The company's stock seesawed after the markets closed Tuesday, initially swinging up by 4% before falling by about 2%.Retailread more
President Donald Trump believes he has quite the bargaining chip with the European Union.Marketsread more
The United States does not have a defense against hypersonic weapons, which can travel at least five times the speed of sound, or a little more than a mile per second....Defenseread more
See which stocks are posting big moves after the bell.Market Insiderread more
The Federal Reserve has lost control of interest rates as evidenced by the federal funds rate trading higher than any part of the U.S. Treasury yield curve, Jeffrey Gundlach,...Marketsread more
Some Apple employees have become disillusioned with the group's culture, where some have thrived while others feel sidelined.Technologyread more
Global fund manager Aberdeen Standard Investments fully supports activist investor Elliott Management's push for widespread structural changes at mining giant BHP Billiton, a senior Aberdeen manager said on Wednesday.
Commenting a day before BHP holds its Australian general meeting in Melbourne, where the board of the world's biggest mining house is expected to come under renewed scrutiny over its ill-fated $20 billion investment in U.S. shale, Aberdeen Asia managing director Hugh Young said Elliott was "100 percent correct" in pressuring for change.
Aberdeen is the third-biggest shareholder in BHP's London-listed stock, with a 4.88 percent stake, just behind Elliott, which has a 5.04 percent holding, according to Thomson Reuters data.
Elliott, founded by billionaire Paul Singer, has been pushing for BHP to jettison U.S. oil and gas assets and dismantle its dual-listed structure.
It has also staged an unusual public campaign to muster small investors to help drive changes at BHP, one of the most recognisable corporate names in Australia, using social media to state its position.
Speaking to reporters, Young said Aberdeen was in "very close contact with Elliott", despite Elliott holding "slightly shorter" investment horizons than Aberdeen.
Aberdeen manages $718 billion in assets and is known for taking a long-term view on investments. In April, it said Elliott's plan was OK in principle but added that it may prove complex.
BHP Chairman Ken MacKenzie has previously rejected any suggestions that Elliott was dictating polices at BHP.
BHP entered the shale business at the height of the fracking boom in 2011 and invested billions developing the operations. The fall in oil prices since then has led to pre-tax writedowns of about $13 billion.
BHP last month said divestment of a small portion of onshore shale acreage was completed in the September 2017 quarter, with "work underway" to exit the remaining acreage.
Young said the timing of future divestments was up to BHP.
"But they should not necessarily succumb to short-term pressure to do something for the sake of doing something," Young said.
Elliott also wants BHP to abandon its London stock listing, while retaining in Australian bourse listing, a move BHP insists would cost more to implement than it would save.