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(Reuters) -Phillips 66 is arguing that Elliott Investment Management should back down from its push to break up the energy company because the activist investor is conflicted from a separate effort to acquire one of Phillips 66's rivals, according to a letter seen by Reuters. The salvo from Phillips 66, which is expected to be revealed in a letter later on Monday, is the latest in a bitter spat between the firm and Elliott that is due to come to a head at Phillips 66's shareholder meeting next month. In arguing against Elliott's break-up thesis in the letter, Phillips 66 said the investment firm has a conflict of interest over the best strategy for the company due to its separate efforts to buy Citgo Petroleum.

Phillips 66 fires back at Elliott over Citgo conflict of interest amid board fight

(Reuters) -Phillips 66 is arguing that Elliott Investment Management should back down from its push to break up the energy company because the activist investor is conflicted from a separate effort to acquire one of Phillips 66's rivals, according to a letter seen by Reuters. The salvo from Phillips 66, which is expected to be revealed in a letter later on Monday, is the latest in a bitter spat between the firm and Elliott that is due to come to a head at Phillips 66's shareholder meeting next month. In arguing against Elliott's break-up thesis in the letter, Phillips 66 said the investment firm has a conflict of interest over the best strategy for the company due to its separate efforts to buy Citgo Petroleum.
Reuters 1 hour ago
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She changed roles at least a dozen times at Cisco. This is her advice to people considering a career transition.

She changed roles at least a dozen times at Cisco. This is her advice to people considering a career transition.

Liz Centoni changed roles at least a dozen times during her 25 years at Cisco. It wasn't always easy, but she wouldn't have it any other way.
Business Insider 1 hour ago
Why this AI CEO wants his startup to cannibalize its own product every 6 to 12 months

Why this AI CEO wants his startup to cannibalize its own product every 6 to 12 months

Cofounder Varun Mohan said he wants the company to build new products so quickly that in six to 12 months, the current product stuff is outdated.
Business Insider 3 hours ago
China's JD.com calls out anti-competitive pressures on food delivery couriers

China's JD.com calls out anti-competitive pressures on food delivery couriers

SHANGHAI (Reuters) -Chinese e-commerce giant JD.com highlighted anti-competitive pressures on food delivery couriers in a social media post on Monday, alleging that other platforms were coercing couriers to avoid working with JD Takeaway. JD Takeaway began onboarding restaurants in February with promises of "zero commissions all year round", marking its entrance into China's highly competitive food delivery space and threatening to disrupt the market share of leading players who rely on scale for success in this low-margin sector. In the post on JD.com's official Weixin account, addressed to couriers working with JD Takeaway, the company said it was aware of pressures on them to not accept orders from JD.com and that it sympathised with their plight of being forced to choose between platforms.
Reuters 5 hours ago
MPNGY
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Exclusive-EU explores tweaking methane rules for US gas to help trade talks, sources say

Exclusive-EU explores tweaking methane rules for US gas to help trade talks, sources say

BRUSSELS (Reuters) -The European Union is looking at ways to make it easier for U.S. gas exports to comply with its methane emissions rules, as the bloc attempts to avert a trade war with U.S. President Donald Trump, three sources familiar with the matter told Reuters. The European Commission is working on its offer for trade negotiations with the United States, to attempt to avoid Trump's planned tariffs - with both sides signalling that energy could form part of a broader trade deal. Trump has said several times the EU should buy more American oil and gas to lower its trade surplus with the United States.
Reuters 7 hours ago

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Google's bad year just got worse: Morning Brief

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Nvidia stock falls again, market cap losses near $270 billion after Trump administration's new export controls

Nvidia stock falls again, market cap losses near $270 billion after Trump administration's new export controls

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Apple market cap falls back below $3 trillion as 'relief rally' fades amid new tariff uncertainty

Apple market cap falls back below $3 trillion as 'relief rally' fades amid new tariff uncertainty

Apple stock fell more than 2% late Wednesday morning, once again putting its market capitalization below the $3 trillion mark after a brief rally.
The price Mark Zuckerberg wasn't willing to pay to halt Meta's antitrust trial

The price Mark Zuckerberg wasn't willing to pay to halt Meta's antitrust trial

Meta CEO Mark Zuckerberg hoped to avoid a high-stakes antitrust trial playing out this week in Washington, D.C., but he wasn't willing to pay what US antitrust cops wanted.
Google to face off with US government in attempt to break up company in search monopoly case

Google to face off with US government in attempt to break up company in search monopoly case

Google will confront an existential threat Monday as the U.S. government tries to break up the company as punishment for turning its revolutionary search engine into a ruthless monopoly. The drama will unfold in a Washington courtroom during the next three weeks during hearings that will determine how the company should be penalized for operating an illegal monopoly in search. The proceedings, known in legal parlance as a “remedy hearing,” feature a parade of witnesses that includes Google CEO Sundar Pichai.
Associated Press Finance 10 hours ago
GOOG
Oil falls on signs of progress in U.S.-Iran talks amid more market stress

Oil falls on signs of progress in U.S.-Iran talks amid more market stress

LONDON (Reuters) -Oil prices fell more than 2% on Monday on signs of progress in talks between the U.S. and Iran while investors remained concerned about economic headwinds from tariffs which could curb demand for fuel. Brent crude futures slipped $1.81, or 2.7%, to $66.15 a barrel by 0945 GMT after closing up 3.2% on Thursday.
Reuters 12 hours ago
The honeymoon is over for space investors

The honeymoon is over for space investors

From GeoAI to defense spending, here were the noteworthy developments in the applications, infrastructure, and distribution layers of space sector in the first quarter.
Yahoo Finance yesterday
SPAX.PVT
SHAI.PVT
I got my last shipment from Temu — with no extra fees. Am I going to have to pay more in the future?

I got my last shipment from Temu — with no extra fees. Am I going to have to pay more in the future?

I snuck my last Temu order in before Donald Trump's extra fees are set to bite. Will this be it for me and Temu?
Business Insider 2 days ago
I moved to the Bay Area with my wife to find a tech job. We're now both unemployed — this is just a broken system.

I moved to the Bay Area with my wife to find a tech job. We're now both unemployed — this is just a broken system.

Cybersecurity professional Phil Stafford said moving to the Bay Area from Fresno, California, gave him more contracts, but still no full-time work.
Business Insider 2 days ago
Netflix is charging ahead as one of the stock market's favorite recession plays

Netflix is charging ahead as one of the stock market's favorite recession plays

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Business Insider 2 days ago