All posts tagged: Shareholder

News diary 25-31 May: Energy price cap decision, Meta shareholder meeting, Colombia presidential election

News diary 25-31 May: Energy price cap decision, Meta shareholder meeting, Colombia presidential election

Published by Sam Flores

Closeup icons of Meta Platforms, Inc., Facebook and Instagram seen in an iPhone screen. Picture: Koshiro K/Shutterstock On Wednesday, UK residents are to see a decision made on Ofgem’s quarterly price cap from July as the energy regulator makes adjustments in response to Iran war-related prices rises. With energy markets unsettled by the Iran conflict, major impacts are expected for inflation, consumer finances, and UK economic policy. On the same day, Facebook and Instagram parent Meta will be holding its annual shareholder meeting to discuss AI, human rights and antisemitism. At the end of the week, voters in Colombia will elect a new president, a move which could shape regional politics, security policy, economic direction, and relations with the US and other Latin American states. Leading the week A quiet week in Westminster with MPs away for a half-term break means attention will stay focused on the by-election hopefuls looking to secure a seat in the House of Commons next month. There’ll be a host of candidates hitting the campaign trail in Aberdeen, Arbroath and …

Texas Pacific Land Crashes After Largest Shareholder Dies

Texas Pacific Land Crashes After Largest Shareholder Dies

Published by Jenni Sidey

Land-and-royalty company Texas Pacific Land Corp. crashed the most since early Covid after the head of its largest shareholder unexpectedly died.  Bloomberg reports that Murray Stahl, CEO of Horizon Kinetics and a TPL board member, died on Thursday, sending shares spiraling lower by 17% in late-afternoon trading. This marked the largest intraday decline in the stock since early 2020. Stahl was described as a longtime believer in TPL, one of the largest private landowners in Texas, with most of its acreage concentrated in the oil-rich Permian Basin of West Texas. TPL generates revenue by owning land, collecting oil and gas royalties from activity on that land, and selling or managing water-related services tied to drilling and production. “His firm, Horizon Kinetics, along with its predecessors, had been TPL’s largest shareholder for many decades. Murray believed in the Company when it was still a thinly-traded, little-known trust that simply owned some land in west Texas,” TPL CEO Ty Glover wrote in a press release.  Bloomberg data show that Horizon Kinetics is TPL’s largest shareholder, owning 10.3 …

Amazon CEO takes aim at Nvidia, Intel, Starlink, more in annual shareholder letter

Amazon CEO takes aim at Nvidia, Intel, Starlink, more in annual shareholder letter

Published by skeptic

Amazon CEO Andy Jassy’s annual shareholder letter reads something like a Kendrick Lamar diss track, if the rapper was a corporate-speak talking CEO and not a poetic Pulitzer-prize winning musician. Meaning, you have to know the history to understand all of the competitors Jassy takes aim at, alongside cute personal stories about his unrealized dream of being a sportscaster and watching hockey games with his dad. Of course, Jassy doesn’t throw the gauntlet down directly. He takes a more nuanced approach. For instance, in his challenge to Nvidia, he writes, “We have a strong partnership with NVIDIA, will always have customers who choose to run NVIDIA” and will always support these chips in its cloud. But he also says: “Virtually all AI thus far has been done on NVIDIA chips, but a new shift has started.” AWS customers, he says, “want better price-performance” meaning Amazon’s own home-grown Trainium AI chips. Jassy says demand is so high for this chip that capacity for the newest one, Trainium3, is nearly sold out. Remarkably, he says that capacity …

Black Knight Becomes Sole Shareholder of Ligue 1 Lorient as Part of Multi-Club Ownership Strategy

Black Knight Becomes Sole Shareholder of Ligue 1 Lorient as Part of Multi-Club Ownership Strategy

Published by Sam Flores

LORIENT, France (AP) — The French Ligue 1 club Lorient announced Wednesday that the Black Knight Football Club group had become its sole shareholder. The Black Knight consortium fronted by American businessman Bill Foley, which owns the Vegas Golden Knights in the NHL, acquired a minority ownership interest in Lorient in January 2023 as part of its multi-club ownership strategy. BKFC also owns Premier League side Bournemouth, Moreirense FC in Portugal and Auckland FC in New Zealand. Lorient said in a statement that Wednesday’s move follows “a strategic agreement aimed at strengthening the long-term development of FC Lorient in an increasingly competitive football environment.” BKFC is bringing more than $550 million in equity, Lorient said. It added that president Loïc Féry would retain his position and become a BKFC shareholder alongside Foley. “We are delighted to take this next step with FC Lorient and to welcome Loïc to BKFC,” Foley said. “With Loïc, we will ensure FC Lorient continues to succeed and we will strive to maintain the enthusiasm of its supporters.” Lorient is ninth …

Kraft Heinz’s Top Shareholder Berkshire Plots Exit

Kraft Heinz’s Top Shareholder Berkshire Plots Exit

Published by Jenni Sidey

Kraft Heinz shares are down about 7.5% in New York premarket trading, the biggest drop in just under four years, after the company filed an 8K allowing Berkshire Hathaway to sell up to 325.4 million shares of stock if it chooses to do so. Kraft Heinz’s permission to sell is not an actual sale. No shares have been sold as a result of this filing, and Berkshire is not obligated to sell anything. The proposed sale of the 325.4 million shares by Berkshire represents about 28% of the packaged-food company. This comes as the company recently announced plans to split into two. Berkshire’s Warren Buffett expressed disappointment last year about the potential split of the two companies. Berkshire played a critical role in the 2015 merger, partnering with 3G Capital as a financial backer. As a result of the 8K filing, Kraft Heinz shares were down 7.5% in premarket trading on Wednesday. If losses extend and hold through the cash session, this would mark the largest daily decline since May 18, 2022, of -9.5%. Kraft …