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incoming update…Developing Story Powell and Bernanke appear together on economy, inflation, policyFederal Reserve Chair Jerome Powell and former Fed Chairman Ben Bernanke participate in Perspectives on Monetary Policy conversation before the Thomas Laubach Research Conference hosted by the Federal Reserve.
Watch LIVE on FOXBusiness.comPosted by FOX Business Team ShareExxon rebuts proxy advisor, says net zero emissions scenario ‘unlikely’The Exxon Mobil Corp building is pictured in Georgetown, Guyana February 18, 2022. REUTERS/Sabrina Valle/
SymbolPriceChange%ChangeXOM$106.801.030.97
Exxon Mobil Corp has pushed back against investors pressing the largest U.S. oil producer to report on the risks to its business from restrictions on greenhouse gas emissions and potential environmental disasters.
In a reply on Wednesday to proxy advisor Glass Lewis, Exxon said the prospect of the world achieving net-zero carbon dioxide emissions by 2050 is remote and should not be further evaluated in its financial statements.
A shareholder proposal seeking a report on the cost of having to abandon projects faces a shareholder vote on May 31. Glass Lewis backed the initiative, concluding Exxon could face material financial risks from the net-zero scenario.
Exxon has said the world is not on a path to achieve net-zero emissions in 2050. It says limiting energy production to levels below consumption demand would lead to a spike in energy prices, as observed in Europe following oil sanctions against Russia over Ukraine.Posted by Reuters ShareMorgan Stanley CEO Gorman expects succession to occur within the next 12 monthsMorgan Stanley CEO James Gorman attends the Reuters NEXT Newsmaker event in New York City, New York, U.S., December 1, 2022. REUTERS/Brendan McDermid/File Photo
SymbolPriceChange%ChangeMS $84.490.580.69
Morgan Stanley CEO James Gorman told shareholders Friday that the company will likely appoint its next CEO in the next 12 months.
Gorman, 64, said the board has identified three strong candidates to succeed him and that he will become executive chairman once a new CEO is chosen.
Morgan Stanley co-presidents Ted Pick and Andy Saperstein, Chief Operating Officer Jonathan Pruzan, and head of investment management Dan Simkowitz are widely seen as contenders for the top job.Posted by Reuters ShareDisney vs. DeSantisThe Walt Disney Co.$93.76
POLITICSDisney scraps $1B Florida development as war with DeSantis rages onThe Walt Disney Company on Thursday informed employees that it is abandoning a planned $1 billion new Florida campus as the company’s battle with Gov. Ron DeSantis escalates.
Disney scraps plans for a major project in Florida that has big economic implications as bad blood with Governor DeSantis worsens.Posted by FOX Business Team Share
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