Several public funds that hold shares in Facebook backed a proposal to remove Chief Executive Officer Mark Zuckerberg as chairman, saying the social media giant mishandled several high-profile scandals.
BOSTON: Apple Inc's board relaxed some rules for director nominations by outside investors but stopped short of broader changes sought by an activist shareholder. The new bylaws disclosed in a securities filing late on Thursday dealt with the mechanics of "proxy access," the sometimes controversial process allowing outside investors to nominate their own candidates to a company's board. Just how much influence to give such investors has been a hot topic with the rise of activist shareholders who some executives fear…
SAN FRANCISCO: Intel Corp forecast third-quarter revenue above Wall Street's expectations and said it would return more cash to shareholders, signaling that a shrinking personal computer industry may be stabilizing.