EnergyExxon refinery dispute centers on seniority, pay, demand for vote
Erwin Seba
2 minute read
United Steelworkers (USW) union members picket outside Exxon Mobil s oil refinery amid a contract dispute in Beaumont, Texas, U.S., May 1, 2021. Exxon locked out the plant s about 650 union-represented employees citing fears of a strike. Picture taken May 1, 2021. REUTERS/Erwin Seba/
Disputes over seniority rights and pay for union workers at Exxon Mobil Corpâs (XOM.N) Beaumont, Texas, refinery led to Saturdayâs first lockout at the 118-year-old plant, according to people familiar with the matter.
Workers represented by the United Steelworkers union (USW) walked picket lines for a third day outside the gates of the refinery and its lube oil plant. No talks took place and no proposals were swapped on Monday between two sides, the people said.
Aerospace & DefenseNasdaq plunges more than 2% as investors dump growth stocks
Shreyashi SanyalSruthi Shankar
4 minute read
A street sign, Wall Street, is seen outside New York Stock Exchange (NYSE) in New York City, New York, U.S., January 3, 2019. REUTERS/Shannon Stapleton
The Nasdaq fell more than 2% on Tuesday as steep declines in megacap growth stocks pushed Wall Street below record trading levels, with investors seeking shelter in more defensive parts of the market.
Highly valued technology companies including Microsoft Corp (MSFT.O), Alphabet Inc (GOOGL.O), Apple Inc (AAPL.O), Amazon.com Inc (AMZN.O) and Facebook Inc (FB.O) fell between 2.3% and 4.2%.
EnergyClimate activists urge BlackRock, Vanguard to vote against Exxon directors
Jennifer Hiller
4 minute read
Darren Woods, Chairman & CEO of Exxon Mobil Corporation, attends a news conference at the New York Stock Exchange (NYSE) in New York, U.S., March 1, 2017. REUTERS/Brendan McDermid
Climate activists are prodding Exxon Mobil Corp s (XOM.N) top shareholders to vote against the reelection of two directors, a move that could boost a hedge fund s proxy fight to seat four candidates on the oil giant s board.
Environmental group Sierra Club and other activists have bombarded BlackRock Inc (BLK.N) and Vanguard Group with calls and emails urging them to vote against Exxon Chief Executive Darren Woods and lead independent director Kenneth Frazier at this month s shareholder meeting. The two money management firms hold more than 13% of Exxon shares combined.
Sustainable BusinessBP seeking to build wind farms off Scotland - The Times
Reuters
2 minute read
BP signage is seen at a service station near Brighton, Britain, January 30, 2021. REUTERS/Toby Melville
BP Plc (BP.L) is preparing to bid for the rights to build wind farms off Scotland, The Times reported early on Monday.
BP Chief Executive Officer Bernard Looney told The Times the firm was looking at bidding in the forthcoming Crown Estate Scotland auction to lease the seabed off Scotland for offshore wind projects.
Bids for the ScotWind process, offering 17 areas spanning 8,600 square km (3,320 square miles) of seabed, are yet to be finalised with a deadline of July 16, The Times reported.
IndiaIndian shares drop on virus worries; Reliance slips
Reuters
2 minute read
A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, August 24, 2015. REUTERS/Danish Siddiqui/Files
Indian shares started May on a weak footing amid growing calls, including from an industry body, to impose curbs at the national level to rein in the COVID-19 spread, with conglomerate Reliance Industries (RELI.NS) leading losses after missing profit estimates.
The NSE Nifty 50 index (.NSEI) fell 1.27% to 14,445.1 by 0346 GMT on Monday, while the benchmark S&P BSE Sensex (.BSESN) dropped 1.35% to 48,123.2.
A leading industry body on Sunday urged authorities to take the strongest national steps and to curtail economic activity to save lives, as the coronavirus continued to sweep the nation and overwhelm its healthcare systems. read more