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Under fire after a string of high-profile disasters, mining firms are shaking up their boardrooms in response to criticism that they are failing to meet their own environmental, social, and governance standards.
Breakingviews 3 Min Read The logo of Swiss bank Credit Suisse is seen at a branch in Winterthur, Switzerland, November 2, 2017. LONDON (Reuters Breakingviews) - Investment bank bonuses rarely act as the first line of defence. Many lenders continued to make generous payouts in 2009, even though taxpayers had just bailed them out. Credit Suisse Chief Executive Thomas Gottstein may take a different tack out of necessity. It could serve as an overdue test of the market for bank talent. The Swiss bank set aside less than usual for bonuses in the first quarter, the Financial Times reported on Monda...
By Reuters Staff 3 Min Read MELBOURNE (Reuters) - Australia’s Fortescue Metals Group, the world’s fourth-largest iron ore miner, has set an ambitious plan to become carbon neutral by 2030, bringing forward the target by 10 years as it aims to start producing green hydrogen as soon as 2023. FILE PHOTO: The logo of Australia's Fortescue Metals Group (FMG) can be seen on a bulk carrier as it is loaded with iron ore at the coastal town of Port Hedland in Western Australia, November 29, 2018. Picture taken November 29, 2018. REUTERS/Melanie Burton/File Photo Fortescue Chairman Andrew Forr...
3 Min Read (Reuters) - Proxy adviser Glass Lewis is recommending investors reject the nearly $30 million pay package for Johnson & Johnson Chief Executive Alex Gorsky, arguing that the healthcare company is shielding its top executives from the legal cost of poor business decisions. Slideshow ( 2 images ) J&J is attracting investor scrutiny because it excluded from its calculation of stock awards to its top executives costs related to lawsuits claiming that the healthcare company helped fuel the nation’s opioid crisis and that traces of asbestos in its talc baby powder caused cancer, Reuter...
By Reuters Staff 1 Min Read FILE PHOTO: A man walks by an ATM at the Wells Fargo & Co. bank in downtown Denver April 13, 2016. REUTERS/Rick Wilking/File Photo (Reuters) - Wells Fargo & Co recommended shareholders vote against a proposal asking the bank to conduct a racial equity audit, citing a comprehensive assessment on human rights issues already underway at the bank. It is common practice for firms to recommend shareholders vote against resolutions on the annual proxy ballots that are not put forward by management. Similar proposals have been filed at other companies but Wells Fargo is a...