• Exxon not guilty in NY climate change lawsuit
    Reuters Videos

    Exxon not guilty in NY climate change lawsuit

    Exxon Mobil did not mislead investors on the true cost of addressing climate change. That’s according to a New York judge, who ruled on Tuesday that state attorney general Letitia James failed to produce any evidence that suggested otherwise. James had argued that Exxon - one of the two largest U.S. oil companies - falsely stated that it had properly evaluated the impact of future climate regulations on its business, causing investors to lose $1.6 billion. In dismissing the case, Judge Barry Ostrager wrote: "Nothing in this opinion is intended to absolve Exxon Mobil from responsibility for contributing to climate change through the emission of greenhouse gases…" But he added that it was a securities case, not a climate change case. The lawsuit - filed in October 2018 - was the first of several climate change lawsuits against major oil companies to go to trial, which saw testimony from former Exxon CEO - and former Secretary of State - Rex Tillerson, who denied the allegations against the company.

  • IHOP's latest plan to win the breakfast war
    Yahoo Finance

    IHOP's latest plan to win the breakfast war

    IHOP's new restaurant Flip'd will open in Atlanta this April.

  • U.S. labour board approves McDonald's bid to settle case by franchise workers
    Reuters

    U.S. labour board approves McDonald's bid to settle case by franchise workers

    The National Labor Relations Board said the settlement, which will bring an end to a sprawling case first brought in 2012, was fair and would provide "a full remedy" to workers who claimed they were disciplined or fired for advocating for better working conditions. The settlement allows McDonald’s to avoid being held liable when franchisees violate federal labour law. The workers who brought the case, along with union-backed organizing group Fight for $15, claimed McDonald's disciplined or fired them for participating in nationwide strikes and protests calling for higher wages.

  • US labor board rules for McDonald's in unionization case
    Associated Press

    US labor board rules for McDonald's in unionization case

    The National Labor Relations Board has ruled in McDonald's favor in a long-running case filed by 20 workers who were fired or faced retaliation for trying to unionize. The board said Thursday that it favors a settlement that will require McDonald's franchisees to pay $171,636 to the affected workers. The workers were seeking a ruling that would consider McDonald's a “joint employer” with its franchisees.

  • Exxon, Hess to Commence Crude Oil Export From Offshore Guyana
    Zacks

    Exxon, Hess to Commence Crude Oil Export From Offshore Guyana

    Reportedly, ExxonMobil (XOM) plans for shipment of two cargoes, each with a capacity to carry 1 million barrels of oil from deepwater Liza field in January.

  • Crude Price Falls on Surprise Build in U.S. Inventories
    Zacks

    Crude Price Falls on Surprise Build in U.S. Inventories

    EIA's Weekly Petroleum Status Report revealed that crude inventories rose by 822,000 barrels, compared to the 1.8 million barrels decrease that energy analysts had expected.

  • Oilprice.com

    Why Exxon’s Stock Could Hit $100 In 2020

    Oil and gas giant ExxonMobil could soon go from bleeding cash to gushing profits as its long term production plans are finally starting to pay off

  • McDonald's (MCD) Stock Sinks As Market Gains: What You Should Know
    Zacks

    McDonald's (MCD) Stock Sinks As Market Gains: What You Should Know

    McDonald's (MCD) closed at $194.72 in the latest trading session, marking a -0.12% move from the prior day.

  • Financial Times

    Moral Money: Al Gore blasts BlackRock, Brussels breakdown, rewild the UK

    FT subscribers can  click here to receive Moral Money every Wednesday by email. Welcome to Moral Money. This week we have a multitude of exclusive news: Harsh words for passive managers from a former US ...

  • Johnson & Johnson (JNJ) Dips More Than Broader Markets: What You Should Know
    Zacks

    Johnson & Johnson (JNJ) Dips More Than Broader Markets: What You Should Know

    Johnson & Johnson (JNJ) closed at $139.99 in the latest trading session, marking a -0.36% move from the prior day.

  • Exxon Mobil scores win in New York climate change lawsuit
    Reuters

    Exxon Mobil scores win in New York climate change lawsuit

    Exxon Mobil Corp won a major victory in a closely-watched lawsuit on Tuesday when a judge ruled that the company did not defraud investors out of up to $1.6 billion (£1.25 billion) by hiding the true cost of climate change regulation. The ruling by Justice Barry Ostrager in Manhattan Supreme Court followed a trial featuring testimony from investors, experts and former Exxon Chief Executive Officer Rex Tillerson. The judge found that the New York State Attorney General's case failed to produce evidence that investors were misled.

  • Target unleashed major sales gains by revamping staff
    Yahoo Finance

    Target unleashed major sales gains by revamping staff

    Target is Yahoo Finance's 2019 Company of the Year. Target COO John Mulligan explains some of the big changes he has made to Target's business this year.

  • McDonald's could sell over 250 million Beyond Meat burgers in U.S. annually - UBS
    Reuters

    McDonald's could sell over 250 million Beyond Meat burgers in U.S. annually - UBS

    In its detailed checks on the tests, which are the first to be made public, the Swiss investment bank said the numbers implied the world's biggest fast-food chain could eventually sell more than 250 million P.L.T. burgers annually if it rolled out the product across its nearly 14,000 U.S. outlets.

  • McDonald's could be the key to $1 billion in sales for Beyond Meat, UBS says
    Yahoo Finance

    McDonald's could be the key to $1 billion in sales for Beyond Meat, UBS says

    Beyond Meat could see revenue hit $1 billion if it focuses in its foodservice partnerships, according to UBS analyst Steven Strycula.

  • Exxon Mobil prevails in lawsuit over climate regulations
    Associated Press

    Exxon Mobil prevails in lawsuit over climate regulations

    Exxon Mobil won Tuesday in a closely watched lawsuit over the costs of climate change, with a judge saying there was no proof the energy giant duped investors about the toll that regulations could take on its business. New York Attorney General Letitia James' office didn't prove the company made any material misstatements "that misled any reasonable investor,” state judge Barry Ostrager in Manhattan wrote in dismissing the case. “Nothing in this opinion is intended to absolve Exxon Mobil from responsibility for contributing to climate change through the emission of greenhouse gases,” he added.

  • Here's Why Investors Should Steer Clear of Emerson (EMR) (Revised)
    Zacks

    Here's Why Investors Should Steer Clear of Emerson (EMR) (Revised)

    Challenges in the global manufacturing market, high costs and woes related to international operations hurt Emerson (EMR).

  • Financial Times

    Neoliberalism: pernicious ideology or vacuous insult?

    For left-leaning economists such as David Harvey, the term “neoliberalism” perfectly sums up the mix of laissez-faire economics, centrist politics and market supremacy that has held sway in the west for 40 years. While in 2016, the IMF said neoliberalism could be of enormous benefit where it conferred “financial openness”, but acknowledged some of its elements were overplayed and potential causes of instability. It never appeared in the FT’s old Lexicon and other commentators, including our very own Martin Wolf, continue to doubt its usefulness.

  • Financial Times

    Former Moscow mayor Yuri Luzhkov dies aged 83

    , the one-time Communist party apparatchik who as mayor of Moscow ruled the city with an iron first for two decades, has died at the age of 83. Luzhkov, who came close to leading Russia instead of Vladimir Putin, died on Tuesday at a Munich clinic from complications after a heart operation, Russian media reported. As mayor of Moscow from 1992-2010, Luzhkov presided over the transformation of the Russian capital, turning it from a dour Soviet city into a modern metropolis.

  • Financial Times

    ExxonMobil wins climate change fraud court fight with New York

    with New York state over the oil company’s disclosures regarding its vulnerability to climate change, in a ruling that could damage similar legal challenges filed by other states. In a rebuke of New York’s case, state supreme court judge Barry Ostrager said on Tuesday that the attorney-general’s office failed to prove that ExxonMobil “made any material misstatements or omissions about its practices and procedures that misled any reasonable investor”. centred on Exxon’s use of a proxy cost of carbon, which was presented by the company as a way to incorporate expected future curbs on emissions into its business planning.

  • McCormick (MKC) Gains As Market Dips: What You Should Know
    Zacks

    McCormick (MKC) Gains As Market Dips: What You Should Know

    McCormick (MKC) closed at $172.74 in the latest trading session, marking a +0.44% move from the prior day.

  • Cintas (CTAS) Dips More Than Broader Markets: What You Should Know
    Zacks

    Cintas (CTAS) Dips More Than Broader Markets: What You Should Know

    Cintas (CTAS) closed at $253.81 in the latest trading session, marking a -0.94% move from the prior day.