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Noble Group says key shareholder approves revised restructuring plan

“(Reuters) – Embattled commodity trader Noble Group on Wednesday said its shareholders would receive 20 percent of the equity in the company after restructuring, and that Goldilocks Investment Co would support the revised plan” writes Midwest Communications Inc for 95kqds.com. Goldilocks had filed complaints and lawsuits against Noble, arguing that the planned restructuring protected creditors at the expense of shareholders.Noble said the remaining equity in the new restructured company would be 70-percent held by senior creditors and 10 percent by management. Source: 95kqds.com Share This:

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Cheniere Energy to acquire its Cheniere Partners unit for $30.93 a share

“Cheniere Partners shareholders will receive 0.4750 Cheniere Energy shares for each share owned” writes Ciara Linnane for marketwatch.com. LNG, +1.21% has agreed to acquire its 48.6%-owned subsidiary Cheniere Energy Partners LP Holdings LLC CQH, +0.70% in a stock deal that values Cheniere Partners at $30.93 a share, the companies said Tuesday. Cheniere Energy shares were slightly higher premarket, and have gained 20.9% in 2018, while the S&P 500 SPX, -0.21% has gained 3.8%.The deal is expected to qualify as a tax-free reorganization for Cheniere Partners shareholders and to close by…

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Shareholders, ACLU urge Amazon to stop selling facial recognition software to police ahead of event at tech giant’s HQ

“Amazon is taking more heat for selling its facial recognition software to local law enforcement agencies” writes Monica Nickelsburg for geekwire.com. The company says Rekognition “provides highly accurate facial analysis and facial recognition” but the ACLU claims the software is biased against people of color.The event comes a few days after nearly 20 groups of Amazon shareholders sent a letter asking the company to stop providing police with its Rekognition software. Each organization choosing to employ technology must act responsibly or risk legal penalties and public condemnation.”.  Source: geekwire.com Share This:

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Shareholders to Amazon: Stop selling face-recognition tech to the government

“Amazon is facing shareholder opposition over the sale of its facial recognition technology to law enforcement” reports fastcompany.com. For instance, Motorola Solutions, in collaboration with Neurala, is working on real-time object recognition technology for body cameras.In particular, shareholders are concerned that possible biases in the technology may contribute to the unfair targeting of both people of color and immigrants.Of course, Amazon isn’t the only company selling image recognition software to law enforcement. Source: fastcompany.com Share This:

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In letters to Jeff Bezos, nearly 20 Amazon shareholder groups, ACLU, and others call for halt of selling Rekognition facial recognition tech to law enforcement

“According to experts, regulations have not kept up with the rapid advances in facial recognition technology, which relies on artificial intelligence” writes Matt Mcfarland for cnn.com. On Monday afternoon, the ACLU and nearly 70 groups are sending a letter to Bezos, alongside the one from shareholders, arguing Amazon should not provide surveillance systems such as facial recognition technology to the government. Source: cnn.com Share This:

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Facebook quietly made a huge concession to shareholders as it aims to avoid another data disaster

“Getty Facebook has beefed up the power of its audit committee in what is being seen as a major concession to shareholders who were angered by the Cambridge Analytica data disaster and other scandals” writes Jake Kanter for businessinsider.com. On Friday, Facebook quietly changed the name of its audit committee — which is chaired by the former White House chief of staff Erskine Bowles — to the audit and risk oversight committee.Erskine Bowles is the chair of Facebook’s new audit and risk oversight committee.The changes follow pressure from investors on…

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Carrefour boss hails progress in e-commerce strategy

“Bompard told shareholders he would make proposals to the board so that his own future departure package would not “stir a debate”” writes Midwest Communications Inc for 95kqds.com. PARIS (Reuters) – Carrefour’s new alliances with tech giants Google and China’s Tencent show the French retailer’s e-commerce offensive is making big progress, chief executive Alexandre Bompard told shareholders on Friday. Source: 95kqds.com Share This:

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Amazon says only a small percent of employees accept its $5,000 ‘pay to quit’ offer

“Once a year in mid-winter, Amazon fulfillment center employees are sent an offer called “pay to quit.”” writes Corina Vanek for cnbc.com. The headline of the offer is, “Please don’t take this offer,” Amazon CEO Jeff Bezos wrote in a letter to shareholders in 2014.The offer impacts more than 6,000 employees of the Seattle-based Amazon who work in the company’s fulfillment centers.Lynch said only a “small percentage” of Amazon associates take the company up on the offer. Source: cnbc.com Share This:

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More than 25 percent of WPP investors oppose Sorrell pay arrangements: Sky

“He said some investors were unhappy about remuneration arrangements that Sorrell will continue to enjoy after he has left” writes Midwest Communications Inc for 95kqds.com. Up to 20 percent of shareholders oppose the re-election of WPP chairman Roberto Quarta to the board, Kleinman tweeted, without citing sources.Sorrell quit WPP after the board opened an investigation into an allegation of personal misconduct.(Reuters) – More than a quarter of investors at WPP have cast votes against a pay report to be discussed at Wednesday’s annual general meeting, angered by benefits for former…

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Corporate executives are using stock buybacks to pad their own compensation, according to the SEC

“Corporate executives are using tax cuts and share buybacks to boost their own compensation, a top regulator said Monday” writes Adam Jeffery for cnbc.com. Companies have announced a record-breaking level of share buybacks since Congress passed the Republican-backed tax reduction in December.Critics of the $1.5 trillion measure had worried that it would lead to big rewards for shareholders and only limited benefit to the broader economy. Robert Jackson Jr., a member of the Securities and Exchange Commission, said corporate bigwigs have been selling their shares after the buyback announcements hit,…

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