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Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Gold Price Falls as Fed Rate Hike Fears and U.S.-Iran Tensions Weigh on Bullion 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
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Southwest Airlines and Elliott in Settlement Talks to Avoid Proxy Battle
Southwest Airlines is reportedly in discussions with Elliott Investment Management to reach a settlement that could prevent a proxy fight over board control, according to Bloomberg. Sources familiar with the situation revealed that Elliott is seeking representation on Southwest’s board, though not full control. However, these discussions are ongoing, and no agreement has been finalized yet.
Elliott officially called for a special shareholder meeting to be held on December 10, proposing to replace eight directors and gain control of the board. The hedge fund, which holds a 10% stake in Southwest, has been advocating for leadership changes, including the removal of CEO Bob Jordan. The fund aims to improve the airline’s financial performance and increase its share value.
Southwest has already introduced initiatives to enhance profitability, such as partnerships, vacation packages, and sale-leaseback agreements for aircraft. Despite these efforts, Elliott remains committed to its boardroom shake-up, with a focus on reshaping the company's long-term strategy.
Elliott has a strong history of activism, having previously targeted major companies like Starbucks, Salesforce, and Twitter.
Both Southwest Airlines and Elliott declined to comment on the ongoing negotiations.
