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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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Sources: BoSox send rookie Campbell to minors

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Sources: BoSox send rookie Campbell to minors

The Boston Red Sox are sending rookie Kristian Campbell to Triple-A, paving the way for the return of outfielder Wilyer Abreu off the injured list, sources told ESPN on Thursday.

Campbell, the reigning Minor League Player of the Year, signed an eight-year, $60 million contract extension before the beginning of the season and won American League Rookie of the Month in April, hitting .301/.407/.495. Since May, he has struggled offensively, hitting .159/.243/.222, and defensively as the Red Sox’s everyday second baseman.

The reset for Campbell, who turns 23 on June 28, comes in the wake of Boston trading star slugger Rafael Devers to the San Francisco Giants. The return of Abreu and eventual return of third baseman Alex Bregman from a right quadriceps strain are expected to fortify a lineup that ranks fifth in the major leagues with 358 runs scored.

Campbell rocketed to the big leagues after a 2024 in which he hit .330/.439/.558 with 20 home runs and 77 RBIs over three minor league levels. Boston entered spring training hopeful he would earn the second base job, and despite hitting .167/.305/.271, the Red Sox were confident enough in Campbell’s ability to succeed that they locked him up to a deal that with two club options can run through 2034.

With a unique stance, Campbell managed to produce top-end exit velocities, and the Red Sox banked on that ability to make up for his lack of minor league at-bats. A fourth-round pick out of Georgia Tech in 2023, the 6-foot-3, 210-pound Campbell responded with four multihit games among his first seven in the big leagues and finished April with four home runs and 12 RBIs.

May and June have proven far more difficult, with just four multihit games among the 38 he has played. Campbell spent the first eight days of May in the cleanup spot but has been dropped to the bottom of the order in June. In his last big league game Wednesday, he batted eighth and played center field.

Abreu, who turns 26 on Tuesday, is expected to rejoin the Red Sox 10 days after hitting the injured list with a strained oblique. He went 1 for 4 in a rehabilitation appearance with Triple-A Worcester on Tuesday and would head to San Francisco for the Red Sox’s series against the Giants that begins Friday.

In his third big league season, Abreu is hitting .245/.321/.471 with 13 home runs, just two shy of his career best in 2024. He joins a crowded outfield, with Gold Glove candidate Ceddanne Rafaela — who can also play in the middle infield — in center, All-Star Jarren Duran in left and top prospect Roman Anthony in right. Anthony is currently hitting third, the spot Abreu regularly occupied before his injury.

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Jac jack: Royals’ Caglianone belts first MLB HR

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Jac jack: Royals' Caglianone belts first MLB HR

ARLINGTON, Texas — Jac Caglianone has his first career home run just shy of two weeks after his debut with the Kansas City Royals, and a day after the 22-year-old prospect sat out of a big league game for the first time.

Caglianone won a lefty-lefty matchup by pulling a 95.5 mph fastball from Jacob Latz into the Texas Rangers bullpen in right-center field to give the Royals a 3-0 lead in the second inning Thursday.

Vinnie Pasquantino hit a two-run shot off Texas starter Shawn Armstrong in the first inning of a bullpen game for the Rangers.

The sixth overall pick in last year’s amateur draft out of Florida, Caglianone went 0-for-5 in his big league debut at St. Louis on June 3. His average was at .196 after going 0-for-4 in the opener of a series at Texas and sitting out the second game.

Caglianone, who played his first six games on the road before making his home debut against the New York Yankees, swung at Latz’s 2-2 pitch above the strike zone, and pointed toward center field as he rounded second base after his 387-foot drive.

The 6-foot-5 Caglianone hit 15 homers in 50 games combined with Double-A Northwest Arkansas and Triple-A Omaha before getting called up.

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Ohtani to pitch against Nationals on Sunday

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Ohtani to pitch against Nationals on Sunday

LOS ANGELES — Shohei Ohtani will next pitch for the Los Angeles Dodgers on Sunday against the Washington Nationals.

The two-way superstar made his mound debut for the Dodgers on Monday against the San Diego Padres, throwing one inning and allowing one run and two hits. He also batted leadoff as the designated hitter and had two hits.

Ohtani faced Padres sluggers Fernando Tatis Jr. and Manny Machado in his 28-pitch outing.

The Dodgers conclude their four-game series with San Diego on Thursday night, looking for a sweep and their sixth straight victory.

Ohtani underwent Tommy John surgery after the 2023 season while with the Los Angeles Angels and missed all of the 2024 season after which he signed a $700 million, 10-year deal with the Dodgers.

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