Bengaluru — Oil major Shell has finished talks with its largest shareholders that could result in CEO Wael Sawan earning at least £4.5m more every year, Sky News reported on Wednesday, citing investor sources.
The company has drawn up plans to grant Sawan a long-term incentive stock award worth up to nine times his base salary of £1.5m, the report said.
A spokesperson for Shell said in a statement: “Every three years, Shell seeks shareholder approval for a new executive director remuneration policy as a standard part of regulations for UK listed companies. The last vote was in 2023, so this is part of the usual cycle.” Reuters
Tariffs weigh on Stanley Black & Decker’s outlook
Bengaluru — Stanley Black & Decker on Wednesday forecast its 2026 profit below Wall Street estimates as tariff-fuelled price hikes hurt demand for its power tools.
Shares of the company were down about 2.4% in premarket trading.
US President Donald Trump’s tariffs and inflationary pressures added to woes for companies already navigating steep raw material costs.
The Connecticut-based power tools maker said tariff mitigation measures such as higher pricing resulted in weaker North American and developed market sales in the tools and outdoor segment.
Stanley Black & Decker also implemented a series of cost-saving measures over the past year including supply chain adjustments to offset the tariff hit. Reuters
The New York Times expects higher subscription revenue
Bengaluru — The New York Times forecast first-quarter subscription revenue above Wall Street estimates on Wednesday, expecting its bundling strategy for news and lifestyle products to draw in more paying users.
The newspaper expects subscription revenue growth to be 9%-11%, compared with analysts’ average estimate of 9.2%, according to data compiled by Visible Alpha.
Shares of the company were down nearly 2% in premarket trading. The stock had risen about 33% last year. Reuters
Spain’s eDreams fined for misleading marketing
Rome — Spanish online travel agency group eDreams has been fined by Italy’s competition authority over its promotion of membership subscriptions, the watchdog said on Wednesday.
The regulator said the group’s companies employed manipulative digital tactics, known as dark patterns, to pressure consumers into subscribing to and maintaining its prime service.
The authority said eDreams misrepresented the actual value of discounts and failed to provide transparent pricing differences based on user access methods and deployed retention tactics that obstructed customers seeking to cancel prime memberships. Reuters
Eurozone economy stalls on slow demand
Bengaluru ― The eurozone economy’s growth slowed for a second consecutive month in January as demand nearly stagnated and hiring came to a halt, indicating a fragile start to 2026, a survey showed.
The HCOB eurozone composite purchasing managers’ index (PMI), compiled by S&P Global, fell to 51.3 in January from 51.5 in December, touching a four-month low. The figure was also lower than a preliminary estimate of 51.5.
PMI readings above 50.0 indicate growth in activity while those below that level point to a contraction. Reuters
Toyota plans to lift output of hybrid vehicles
Tokyo — Toyota plans to boost production of hybrid and plug-in hybrid vehicles to about 6.7-million units by 2028, about 30% higher than its target for 2026, the Nikkei business daily reported on Wednesday.
The world’s largest automaker aims to lift global output to about 11.3-million vehicles in 2028, about 10% above its 2026 plan, the paper said.
The share of hybrids is expected to rise to 60% in 2028 from about 50% in 2026, the newspaper added.
Toyota did not immediately respond to a request for comment. Reuters
