Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Gold Price Falls as Fed Rate Hike Fears and U.S.-Iran Tensions Weigh on Bullion 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
China Sets 1.25% Overnight Reverse Repo Rate Below Market Expectations 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Canada Grants C$7 Million to Greenland Molybdenum Mine to Strengthen Critical Minerals Supply 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
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.
