Latest news with #corporations
Bloomberg
2 days ago
- Business
- Bloomberg
Lawmakers Look to Wean Chile Off Its Capital Markets Stalwart
After almost 60 years, Chilean lawmakers are debating whether the time has come to restrict the use of an inflation-linked accounting unit that has come to dominate the country's financial transactions. Created in 1967 to prevent rampant inflation choking off long-term lending, the Unidad de Fomento, or UF, accounts for nearly all mortgages and most long-term corporate borrowing. But its use has also spread to rental contracts, health and car insurance and school fees.
Yahoo
5 days ago
- Business
- Yahoo
Top Midday Stories: Alphabet, Tesla Kick Off 'Magnificent 7' Earnings; Union Pacific, Norfolk Southern in 'Advanced' Merger Talks
Wall Street's major market averages were mixed around midday Thursday as corporate earnings continue Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Dillard's Seeks to Reincorporate in Texas
Delaware is becoming an unpopular state for corporations. This week, Dillard's Inc. disclosed that it wants to reincorporate its business in Texas, and get out of Delaware. Since 1964, Dillard's has been incorporated in Delaware where many other retail companies and other businesses have been incorporated. More from WWD LuisaViaRoma's CEO Discusses Business Retooling Strategy, Milan Unit Closure Veralab Sets International Expansion Plans, Starting From Spain Toteme to Open Second Store in London Dillard's decision to reincorporate in Texas, which is subject to a shareholder vote, is partly due to recent decisions in Delaware courts involving other companies and corporate matters unfavorable to controlling stockholders. One such prominent case recently involved a ruling in Delaware voiding massive compensation for Elon Musk at Tesla. Consequently, Tesla decided to reincorporate in Texas last year. But a number of other major companies have also reincorporated away from Delaware this year, including the Simon Property Group, which reincorporated in Indiana, and the Trump Media & Technology Group, which incorporated in Florida. Dillard's is also citing tax liabilities and other costs associated with being incorporated in Delaware. Earlier this year, Dillard's authorized a special committee to examine reincorporating in Texas. Following 'an extensive process' Dillard's indicated in a filing with the Securities & Exchange Commission, the committee determined the move should be made. The committee retained the law firms of Vinson & Elkins and Young Conaway Stargatt & Taylor, a Delaware firm, for help on the matter. 'The special committee concluded that Texas' statute-focused approach would likely foster more predictability than Delaware's common law approach, and that predictability could be a competitive advantage,' the filing indicated. The Little Rock, Ark.-based retailer also cited 'recurring franchise tax and escheatment liabilities in Delaware, and the apparent increase in contingency fee-driven stockholder litigation in Delaware and resulting increase in insurance premiums for director and officer insurance.' As such, the company believes leaving Delaware would lower its costs. In addition, Dillard's operates 55 stores in Texas, making it the state with the retailer's largest presence. According to the filing, 'The Texas reincorporation reflects the company's strong operational nexus in Texas, preserves stockholder economic and votings rights, with expansion of rights to call a special meeting or act by unanimous written consent, may reduce frivolous litigation, and will create cost savings in terms of annual franchise tax cost and management time.' Dillard's also stated that it does not have any legal proceedings pending in Delaware. William Dillard 2nd, chairman and chief executive officer; Alex Dillard, president; Mike Dillard, executive vice president, own 27.4 percent, 27.9 percent and 26.3 percent, respectively, of the outstanding voting stock. Best of WWD Macy's Is Closing 66 Stores in 2025 — Here's the List, Live Updates Inside the Demise of Lord & Taylor COVID-19 Spikes Elevate Retail Concerns
Bloomberg
6 days ago
- Politics
- Bloomberg
How Entire Countries Have Become The Target of Climate Change Lawsuits
International negotiations have delivered mixed results in tackling climate change, so some people are turning to another tool in search of faster progress: litigation. Around the world, many of the most vulnerable citizens, communities and nations are suing countries and corporations over what they see as a lack of climate action. They want to force polluters and governments to pay for past harms and to avert future threats, and they're using the law to assign blame for damage. Opponents say climate policy is not a matter for the courts, but for agreements between nations, such as those on emissions reduction, methane and deforestation.
Bloomberg
20-07-2025
- Automotive
- Bloomberg
EU to Force Car-Rental Firms to Buy EVs Only From 2030: Bild
The European Commission is working on a plan to prohibit car-rental firms and large corporations from buying non-electric vehicles for their fleets from 2030, according to German newspaper Bild. Under the deliberations, companies like Sixt SE and Europcar Mobility Group SA would only be allowed to purchase electric vehicles from that date, the publication said, citing European Union sources it didn't identify.
