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February 7th - This morning (February 7th), the Shanghai Municipal Peoples Government held a press conference. Yang Jiaying, Director of the Shanghai Municipal Human Resources and Social Security Bureau, stated that employment is a top priority for peoples livelihood. The bureau is making every effort to promote employment for college graduates and other young people. Shanghai is the top choice for many young students to pursue their dreams. We are strengthening policy support and implementing a comprehensive employment service campaign tailored to the characteristics of this youth group. We are fully leveraging the synergistic effect of "One Station (the first stop for employment in Shanghai), One Circle (a 15-minute employment service circle), and One Action (the Employment in Shanghai Plus Action)" to increase employment assistance for young people.February 7th - U.S. Ambassador to the United Nations Mike Walz stated that the United States will pay part of the billions of dollars in arrears owed to the UN within weeks, while emphasizing the need for continued UN reform. This comes after UN Secretary-General António Guterres warned of the UNs financial situation, stating that the UN faces the risk of "imminent financial collapse" due to member states unpaid dues. In a telephone interview, Walz said the first payment would be seen soon, and while the final amount has not yet been determined, he believes it will be finalized within weeks.The China Earthquake Networks Center officially determined that a 3.2-magnitude earthquake occurred in Tengchong City, Baoshan City, Yunnan Province at 12:00 on February 7, with a focal depth of 10 kilometers.On February 7th, CNN reported that US President Trump claimed that renaming Pennsylvania Station in New York City as "Trump Station" was a proposal by Senate Majority Leader Chuck Schumer. Schumer quickly refuted this claim. "Schumer suggested to me that Pennsylvania Station be renamed Trump Station," Trump told reporters aboard Air Force One, adding that many people, including union members, Democrats, and Republicans, had made the suggestion, "but theres been no progress." Schumer immediately refuted Trumps claim, accusing him of lying about the details of their conversation. "Completely a lie," Schumer posted on social media platform X. "He knows it. Everyone knows it. Only one person can restart this project, and he can do it easily."February 7 – The World Health Organization (WHO) reported on February 6 that Bangladesh had one case of Nipah virus infection, with no other related cases identified. According to a WHO press release that day, the infected person is a woman aged 40 to 50 living in the Rajshahi district of Bangladesh. She developed fever and neurological symptoms on January 21 and was diagnosed with Nipah virus on January 29. Bangladeshi authorities notified the WHO on February 3. The woman had no recent travel history but had consumed raw date juice. Her 35 close contacts tested negative for Nipah virus.

Suncor Energy and Elliot Investment Management Enter into a Contract

Haiden Holmes

Jul 19, 2022 10:38

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Monday, Suncor Energy (NYSE:SU) announced an agreement with Elliott Investment Management to propose three new independent directors, two of whom would participate on the CEO search committee and establish a new committee to oversee a strategic evaluation of Suncor's downstream retail business.


"These actions build on Suncor's ongoing efforts to enhance safety, reliability, and operational excellence and to restore its industry leadership position," the firm said.


Following the announcement, shares of Suncor jumped before giving up the majority of their initial gains and closing the day up 1.4%.


Suncor said that it will conduct a strategic examination of its downstream retail business in an effort to unlock shareholder value. According to a statement from Suncor, the evaluation would "study and evaluate a broad range of alternatives, including a potential sale of the firm and actions to maximize value."


A committee of independent directors, directed by Board member Russ Girling and composed of newly appointed members, will oversee the research and provide the Board with a proposal.


It is anticipated that the examination would end in the fourth quarter.


Suncor has appointed three new independent board members, effective immediately, as part of its agreement with Elliott. The board of directors now includes Ian Ashby, a former president of BHP Billiton's Iron Ore Customer Sector Group, Chris Seasons, a former president of Devon Canada, and Jackie Sheppard, a former executive vice president of Corporate and Legal Affairs of Talisman Energy Inc.


Kris Smith, Suncor's temporary chief executive officer, indicated that enhancing safety and operational performance is the leadership team's primary objective. "I look forward to working with the Board, including our new directors, to advance our efforts to generate long-term shareholder value, as well as to communicate our progress in accomplishing our debt reduction and other capital allocation goals, and in restoring confidence in Suncor."

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