ExxonMobil

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ExxonMobil Sues Own Investors in Warning to Climate Activists

Lawsuit to test SEC rules as investor groups abandon climate proposal

(Newser) - ExxonMobil investors have abandoned calls for the company to act more aggressively to curb emissions from its operations after ExxonMobil sued them in response. In what the Financial Times reports is "likely to have a chilling effect on similar forms of shareholder activism," ExxonMobil took "the unusual...

ExxonMobil Drops After Announcing Huge Merger
ExxonMobil Drops After
Announcing Huge Merger
MARKETS
Oct 11, 2023 3:42 PM CDT

ExxonMobil Drops After Announcing Huge Merger

Pioneer Natural Resources deal is company's biggest buyout since Mobil

(Newser) - Stocks edged higher in wobbly trading Wednesday as yields were mixed in the bond market, which has been Wall Street's main driver recently.
  • The S&P 500 rose 18.71 points, or 0.4%, to 4,376.95.
  • The Dow Jones Industrial Average rose 65.57 points, or 0.
...

These Companies Just Made Fortune 500's Top 10

Walmart takes top spot in annual ranking of largest US firms

(Newser) - Fortune has released its annual Fortune 500 rankings, its 69th version of the list of the country's largest corporations, based on revenue for 2022's fiscal year. Per a release , a company had to bring in $7.2 billion to be included, a jump of 13% from last...

Group Calculates Climate Reparations for Oil Companies

World's top companies would owe $209B a year, according to One Earth analysis

(Newser) - The top 21 fossil fuel companies are responsible for 36% of global emissions since 1988, according to a new study , which concludes BP, Shell, ExxonMobil, and others should collectively pay at least $209 billion annually in climate reparations. Talk of who should pay climate reparations typically falls to the level...

ExxonMobil Set to Square Off Against Activist Investors

Shareholder meeting at Chevron also promises to be contentious over emissions reduction plans

(Newser) - The fly on the wall at Wednesday's ExxonMobil shareholder meeting is likely to get quite an earful, notably on the topic of climate change. Quartz reports that the oil giant is expecting a battle with some of its more activist-leaning investors, including on multiple proposals regarding carbon emissions that...

ExxonMobil Made Record Profits Last Year

'Our results clearly benefited from a favorable market'

(Newser) - ExxonMobil posted record annual profits in 2022 as Americans struggled with high prices for gasoline, home heating, and consumer goods. The oil giant brought in $12.75 billion in profits in the fourth quarter, bringing annual net income to $55.7 billion. That exceeds Exxon's previous record of $45....

Researchers: This Is 'Smoking Gun' on an Exxon Cover-Up

Oil giant made eerily accurate predictions on climate change, then misled public, scientists say

(Newser) - Who needs Nostradamus when we've got Exxon? The Guardian reports that "a trove of internal documents and research papers" has long established that Exxon, now known as ExxonMobil, knew since the 1970s of the dangers of global warming, and that other oil companies acknowledged the same decades before...

Accusations of Big Oil 'Greenwashing' Are Well-Founded

Actions haven't lived up to clean energy rhetoric, researchers say

(Newser) - If actions speak louder than words, oil companies have been very quiet about transitioning to clean energy, according to a new study. Researchers in Japan looked at four major oil companies—BP, Chevron, ExxonMobil, and Shell—and found that while there had been a rise in promises of action and...

Green Investor Forces Exxon Directors Out

Unprecedented revolt over climate strategy puts at least 2 new members on board

(Newser) - ExxonMobil shareholders backed a hedge fund opposed to the company's approach to climate change issues by replacing board members Wednesday. It's the first such rebellion the company has ever faced, CNN Business reports. The hedge fund, Engine No. 1, won two board seats, and the races for two...

Dow Jones Is Removing Its Oldest Member

Exxon Mobil is among 3 leaving in shake-up

(Newser) - Three companies are departing the Dow Jones Industrial Average—including Exxon Mobil, currently the oldest member of the influential 30-company stock index. The oil giant, which joined the index in 1928 as Standard Oil, will be leaving along with Pfizer and Raytheon in the Dow's biggest shake-up since 2013,...

Exxon Wins Closely Watched Climate Case

New York state accused it of misleading investors on the related costs

(Newser) - ExxonMobil has prevailed in a rare legal situation: a climate change case that made it to trial. This one was more about alleged fraud than pollution, however, reports NPR . New York state Attorney General Letitia James accused the company of misleading investors about the potential cost of climate change, but...

10 Highest Paying Internships in US
Here, Interns Can
Earn $96K a Year
May 2, 2017 11:17 AM CDT

Here, Interns Can Earn $96K a Year

Facebook's interns are a lucky bunch

(Newser) - Contrary to popular belief, it is possible to keep a rewarding internship and a roof over your head . If you're prepared for a fight, you can find a great internship that also pays well—$8,000 per month in the case of Facebook. Here are the companies offering the...

Rex Tillerson Used Email Alias 'Wayne Tracker' at Exxon

At least in missives about climate change, says New York attorney general

(Newser) - An investigation into whether Exxon Mobil misled investors regarding its knowledge of climate change has revealed that former CEO and current Secretary of State Rex Tillerson used an alias email address to discuss the subject, says New York's attorney general. In a letter to a New York judge on...

White House Press Release Copies ExxonMobil's

Both releases contained identical paragraph

(Newser) - The White House and ExxonMobil were literally on the same page Monday when a White House statement on the oil giant's investment plan lifted an entire paragraph from an Exxon press release issued around 30 minutes earlier. Both statements praised how the company is "strategically investing in new...

Rex Tillerson Makes $240M Exit From Exxon

He'll sell stock, with value of deferred stock put in trust

(Newser) - Rex Tillerson will take a $180 million retirement deal and make a complete break from ExxonMobil if confirmed as secretary of state. In a deal announced Tuesday, Exxon says the former oil executive who resigned on Dec. 31 will sell his 611,000 shares of Exxon, worth about $55.5...

Leak Reveals Another Tillerson-Russia Tie

He headed Exxon's Russian subsidiary

(Newser) - Documents leaked to a German newspaper have revealed that Rex Tillerson has even stronger ties to Russia than first thought, the Guardian reports. The ExxonMobil CEO spent years as a director of Exxon Neftegas, Exxon's Russian subsidiary based in the Bahamas for tax purposes, according to corporate documents leaked...

Tillerson's Confirmation Could Be Tricky
Trump Picks Rex Tillerson,
but Path Will Be Tricky
THE RUNDOWN
Dec 13, 2016 5:42 AM CST

Trump Picks Rex Tillerson, but Path Will Be Tricky

Secretary of state hearings likely to focus on Russia, conflicts of interest

(Newser) - Donald Trump confirmed Tuesday morning that Rex Tillerson is his pick to be secretary of state—but the ExxonMobil chief's path to confirmation is not expected to be an easy one. The Washington Post reports that some GOP senators may be unwilling to support Tillerson because of his ties...

Multiple Reports: Tillerson Is Pick for Secretary of State

Trump expected to name ExxonMobil chief his nominee on Tuesday

(Newser) - It's Tillerson: Multiple outlets were reporting Monday night that Donald Trump has settled on ExxonMobil chief Rex Tillerson to be his secretary of state. Among those reporting the news in advance of a formal announcement Tuesday were the New York Times , the Washington Post , the AP , and CNN . All...

One of South America's Poorest Countries Has Struck Oil

Find excites but worries Guyana

(Newser) - Guyana has long been one of the hemisphere's poorest places, a sparsely populated nation on South America's northern shoulder that relies heavily on exports of sugar, rice, and gold. But these days, there's a surge of excitement about an anticipated windfall from major oil-and-gas deposits found in...

ExxonMobil CEO: World Needs Our Oil, 'Like It or Not'

Cutting oil production 'not acceptable to humanity': Rex Tillerson

(Newser) - Keep the oil taps flowing for the good of the people, the CEO and chair of ExxonMobil appealed to shareholders at what the Guardian says was a "long and fractious" annual meeting in Dallas on Wednesday. Rex Tillerson told attendees the oil giant had already pumped $7 billion into...

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