Proxy advisory firm Glass Lewis said shareholders of Phillips 66 should vote for three board nominees put forward by Elliott Investment Management, amid a proxy battle between the US oil refiner and activist investor.

This Financial Times report highlights major financial developments including Elliott Management's proxy battle at Phillips 66, Perplexity's impending $500 million funding round, Cobalt Holdings' London IPO,

The broader market backdrop only sharpens the appeal. With investors facing persistent uncertainty around inflation, growth, and global risks, companies with stable cash flows and tangible catalysts are increasingly rare. Phillips 66 offers a strong dividend, credible operational levers, and a catalyst for change already underway.

Phillips 66 shares have underperformed, losing about 25% over the past year, due to weak refining margins and macroeconomic challenges. Read why PSX is a Buy.

Under former chief executive Philippe Schaus, Moët Hennessy pursued hit-and-miss deals, a lossmaking drive into direct-to-consumer sales and sharp price increases. Yet he ascended to be one of controlling shareholder Bernard Arnault’s close advisers in his two decades at LVMH.

Reiterates Strength of Company’s Transformative Strategy and the Valuable Skills of Phillips 66’s Board and Nominees in Contrast to Elliott’s Risky, Misleading Analysis and Conflicted ...

Phillips 66 hired Mark Senn from Cargill’senergy business to lead the expansion of the refiner’s trading operations across its global offices.

Shares of Phillips 66 advanced 5.81% to $125.57 Tuesday, on what proved to be an all-around mixed trading session for the stock market, with the S&P 500 Index rising 0.72% to 5,886.55 and the Dow Jones Industrial Average falling 0.