Elliott lays out its case in letter for leadership change at Southwest Airlines

Elliott Investment Management is telling Southwest Airlines investors the company needs new outside leadership and that it wants to engage to shape a "better future" but is also ready to press ahead with a planned proxy fight.

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Elliott lays out its case in letter for leadership change at Southwest Airlines  Elliott Investment Management is telling Southwest Airlines investors the company needs new outside leadership and that it wants to engage to shape a "better future" but is also ready to press ahead with a planned proxy fight.

TSX futures edge up on higher commodity prices  Futures linked to Canada's main stock index rose on Monday due to a rise in crude and metal prices, while investors cheered the U.S. Federal Reserve Chair's comments on Friday that endorsed the start of the rate-cut cycle in September.

China's PDD Holdings misses quarterly revenue estimates  China's PDD Holdings missed market estimates for quarterly revenue on Monday, as reduced consumer spending dented business at its domestic e-commerce platform Pinduoduo, sending the company's shares down 15% in pre-market trading.

Pavel Durov, detained in France, has nothing to hide, Telegram says  Pavel Durov, the Russian-born founder of Telegram who was arrested in Paris, has nothing to hide it is absurd to hold an owner responsible for abuse of the messaging and social media platform, Telegram said in a statement.

Tech giants urge Malaysia to pause plan for social media platform licenses  An Asian industry group that includes Google , Meta and X has called on the Malaysian government to pause a plan that will require social media services to apply for a license, citing a lack of clarity over the proposed regulations.

Futures edge up on September rate-cut bets; Nvidia results in focus  U.S. stock index futures inched higher on Monday, with the markets focused on results from AI-darling Nvidia and a key inflation report due later in the week, while investors remained optimistic about a September rate cut from the central bank.

Fed's shift to job market risks is done; now policy has to catch up  In 2022, when the Federal Reserve's focus shifted to combating inflation, it had to ratchet up interest rates fast to get monetary policy caught up with fast-rising prices.

Kroger case tests FTC Chair Khan's bid to protect workers  Federal Trade Commission Chair Lina Khan's initiative to use antitrust laws to protect workers faces a key test on Monday when the agency will argue the merger between grocery chain Kroger and its rival Albertsons would crush unionized workers' bargaining power.

As US rate cuts near, economic 'soft-landing' odds could dictate stock performance  With interest rate cuts virtually locked in, investors are ramping up their focus on economic data over the next few months as they game out whether the "soft landing" narrative that has helped drive U.S. stocks in 2024 can continue.

US FTC's bid to block Kroger-Albertsons merger heads to trial  The U.S. Federal Trade Commission will argue Kroger's $25 billion merger with rival grocer Albertsons is bad for shoppers and workers when the agency's lawsuit goes to trial in federal court in Portland, Oregon, on Monday.

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