Norway's sovereign wealth fund operated by Norges Bank Investment Management said Saturday it will vote against Elon Musk's hefty CEO compensation package during Tesla's annual meeting on Thursday.
It's the latest pushback over the size of the pay package, which was recently valued by the company at US$44.9 billion, but in January had a value of about US$56 billion. In May, two big shareholder advisory firms, ISS and Glass Lewis, recommended voting against the package.
“While we appreciate the significant value generated under Mr. Musk’s leadership since the grant date in 2018, we remain concerned about the total size of the award, the structure given performance triggers, dilution, and lack of mitigation of key person risk,” Norges Bank Investment Management said in a statement on its website. “We will continue to seek constructive dialogue with Tesla on this and other topics.”
Tesla asked shareholders to restore Musk’s pay package after it was rejected by a Delaware judge this year.
The fund, called the Government Pension Fund Global, which has a 0.98 per cent stake in Tesla worth US$7.72 billion, voted against the package initially in 2018.
The fund invests proceeds from the country’s oil and gas industry to secure pensions for future generations in Norway. It is worth 17.80 trillion Norwegian Krone (US$1.67 trillion). Because of its sheer size, the fund does not reinvest all its money in Norway, or it would overheat the economy. It invests in 72 countries worldwide.
The fund also plans to vote for several shareholder policies that management has recommended shareholders vote against, including a proposal to adopt a noninterference policy respecting freedom of association and collective bargaining; adopting a simple majority vote; declassifying the board of directors; and publishing reports on harassment and discrimination prevention efforts.
A global technology outage grounded flights, knocked banks and hospital systems offline and media outlets off air on Friday in a massive disruption that affected companies and services around the world and highlighted dependence on software from a handful of providers.
Here's the latest developments on the Canadian impacts of the global technology outage that is causing massive disruptions to companies and services around the world.
A global technology outage has disrupted flights, media outlets, and turned banks offline in a blow to services and companies around the world Friday. CTVNews.ca wants to hear how this has impacted you.
The global computer outage affecting airports, banks and other businesses on Friday appears to stem at least partly from a software update issued by major US cybersecurity firm CrowdStrike, experts told CNN.
Canadian families receiving Canada Child Benefit program payments can expect more cash in their cheques this Friday.
A major internet outage affecting Microsoft is disrupting flights, banks, media outlets and companies across the world, with problems continuing hours after the technology company said it was gradually fixing an issue affecting access to Microsoft 365 apps and services.
Donald Trump, sombre and bandaged, accepted the GOP presidential nomination on Thursday at the Republican National Convention in a speech that described in detail the assassination attempt that could have ended his life just five days earlier before laying out a sweeping populist agenda, particularly on immigration.
Today, Prime Minister Justin Trudeau will be filling a fresh vacancy on his front bench, heading to Rideau Hall to appoint a replacement for his outgoing labour minister and long-time friend, Seamus O'Regan.
Sealed bottles of tattoo and permanent makeup ink, including some marked as sterile, contained millions of potentially dangerous bacteria, according to new research by the U.S. Food and Drug Administration.
Here's the latest developments on the Canadian impacts of the global technology outage that is causing massive disruptions to companies and services around the world.
A global technology outage had grounded flights, disrupted hospitals and backed up border crossings in Canada on Friday, as reported issues persisted hours after the issues with Microsoft services were said to be getting fixed.
Canadian families receiving Canada Child Benefit program payments can expect more cash in their cheques this Friday.
Two people died and a third was seriously injured in a fiery plane crash in Tofino, B.C., on Thursday, according to authorities.
Some airlines at Montreal's Pierre Elliott Trudeau International Airport are being affected by a global technology outage.
As an Ontario woman put away her China dishes after Christmas Dinner in 2018, she noticed her cabinet doors refused to shut.
A major internet outage affecting Microsoft is disrupting flights, banks, media outlets and companies across the world, with problems continuing hours after the technology company said it was gradually fixing an issue affecting access to Microsoft 365 apps and services.
The final day of the Republican National Convention was underway in Milwaukee where Donald Trump made a lengthy speech.
The global computer outage affecting airports, banks and other businesses on Friday appears to stem at least partly from a software update issued by major US cybersecurity firm CrowdStrike, experts told CNN.
A Russian court on Friday convicted Wall Street Journal reporter Evan Gershkovich on espionage charges his employer and the U.S. have rejected as a sham.
Its authors call it the U.S. conservative movement's 'mandate for leadership,' designed to guide a potential second term for former U.S. president Donald Trump.
As U.S. President Joe Biden faces a growing drumbeat of pressure to drop his reelection bid, a majority of Democrats think his vice president would make a good president herself.
Today, Prime Minister Justin Trudeau will be filling a fresh vacancy on his front bench, heading to Rideau Hall to appoint a replacement for his outgoing labour minister and long-time friend, Seamus O'Regan.
Labour Minister Seamus O'Regan has announced he will not run in the next federal election, and will be quitting his cabinet position Friday.
Elections Canada is suggesting possible changes to protect the political nomination process from foreign meddling, including barring non-citizens from helping choose candidates, requiring parties to publish contest rules and explicitly outlawing practices such as voting more than once.
Sealed bottles of tattoo and permanent makeup ink, including some marked as sterile, contained millions of potentially dangerous bacteria, according to new research by the U.S. Food and Drug Administration.
Two deaths as a result of a listeriosis outbreak linked to a plant-based milk recall are in Ontario, provincial health officials confirmed Thursday.
In 2021, the Vancouver-based Drug User Liberation Front approached Health Canada with a proposal.
A global technology outage grounded flights, knocked banks and hospital systems offline and media outlets off air on Friday in a massive disruption that affected companies and services around the world and highlighted dependence on software from a handful of providers.
As more people look to find love on dating apps and social media these days, so too are those looking to commit romance scams as artificial intelligence makes it harder to know what's real and what isn't.
Researchers say they know the 'Big One' is coming, but when should we expect it? Scientists say predicting when a megathrust earthquake will occur is a guessing game.
Film critic Richard Crouse offers a list of movies to watch when you need a mood boost.
Bob Newhart, the deadpan accountant-turned-comedian who became one of the most popular TV stars of his time after striking gold with a classic comedy album, has died at 94.
Shannen Doherty finalized her split with husband, Kurt Iswarienko, just hours before her death at age 53, and she was granted a rare posthumous divorce two days later.
All the major Canadian grocers are now on board for a grocery code of conduct, paving the way for industry guidelines that have been several years in the making.
Netflix said on Thursday it added more than eight million subscribers in its second quarter as the streaming service benefited from a password-sharing crackdown and such titles as 'Bridgerton,' 'Baby Reindeer' and 'The Roast of Tom Brady.'
The company said 'millions' of customers also joined Prime in the past three weeks to take advantage of the discount event, which ended right before midnight Pacific Standard Time on Thursday.
Halifax bridges have collected thousands of coins from around the world.
A donated clawfoot bathtub has become the preferred lounging spot for a pair of B.C. grizzly bears, who have been taking turns relaxing and reclining in it – with minimal sibling squabbling – for the past year.
Some Canadians feel stuck between a rock and a hard place when considering starting a family, while others are concerned about what their child's future could look like.
Tiger Woods' 8-over 79 at Royal Troon on Thursday left him in danger of missing the cut for a third straight time at the British Open.
It appears that not even race car drivers are immune to Toronto gridlock.
A special kind of iron curtain came down across central Paris on Thursday, with the beginning of an Olympic anti-terrorism perimeter along the banks of the River Seine sealing off a kilometres-long (miles-long) area to Parisians and tourists who hadn’t applied in advance for a pass.
Stellantis is warning the owners of more than 2,900 hybrid minivans in Canada to stop charging their vehicles and park them outdoors, away from buildings and other cars, due to the risk of battery fires.
Ford Motor Co. says it plans to assemble its F-Series Super Duty pickup trucks at its Oakville, Ont., assembly plant starting in 2026, adding capacity of up to 100,000 additional units.
Toronto traffic has reached the point of a congestion crisis, according to the Toronto Region Board of Trade, whose new numbers warn of a significant impact on the city’s economy.
A donated clawfoot bathtub has become the preferred lounging spot for a pair of B.C. grizzly bears, who have been taking turns relaxing and reclining in it – with minimal sibling squabbling – for the past year.
A pair of cemetery investigators are cleaning and preserving as many gravestones they have permission to work on, as they conduct their research and document gravestones.
After more than three years, a B.C. woman has been reunited with a lost family heirloom.
One of Edmonton’s main contributors to Google Street View is a man who dresses up as an alien.
Nearly 10 years after it was first proposed, an interactive piece of public art is officially open in Vancouver's Hastings Park.
An event July 22 at Dynamic Earth in Sudbury will mark the 60th anniversary of the iconic Big Nickel, the largest coin in the world.
Cyclist Jagjeet Singh cruised through Montreal on Sunday morning as he rides across the country to raise money for a children's charity.
A rare ammonite fossil – about 75 million years old - has been discovered in eastern Saskatchewan.
Seven-year-old goalie Hudson Hardill is an unlikely Calgary Flames fan, being that he lives in Peterborough, Ont., and his dad Chris is a Toronto Maple Leafs fan.
Ashcroft Mayor Barbara Roden says there was alack of communication from the BC Wildfire Service when responding to the rapidly growing Shetland Creek wildfire.
A black bear was killed after it bit a woman in North Vancouver Wednesday.
Two people died and a third was seriously injured in a fiery plane crash in Tofino, B.C., on Thursday, according to authorities.
A global technology outage impacting businesses around the world has led to flight cancellations in Toronto this morning, with Porter Airlines grounding all flights until noon.
As an Ontario woman put away her China dishes after Christmas Dinner in 2018, she noticed her cabinet doors refused to shut.
A global technology outage grounded flights, knocked banks and hospital systems offline and media outlets off air on Friday in a massive disruption that affected companies and services around the world and highlighted dependence on software from a handful of providers.
A Canmore family says they could only watch as a black bear attacked their dog and then slept in their backyard overnight as they waited for help from wildlife officers.
A global technology outage grounded flights, knocked banks and hospital systems offline and media outlets off air on Friday in a massive disruption that affected companies and services around the world and highlighted dependence on software from a handful of providers.
RCMP say a one person was killed and eight others were injured when a bus and an SUV collided head-on in southern Alberta on Wednesday.
A global technology outage grounded flights Friday, including Porter Airlines at the Ottawa International Airport (YOW).
The weather in the capital looks nice this Friday, as it is going to be mainly sunny.
CTVNewsOttawa.ca looks at things to do in Ottawa this weekend.
Some airlines at Montreal's Pierre Elliott Trudeau International Airport are being affected by a global technology outage.
A global technology outage grounded flights, knocked banks and hospital systems offline and media outlets off air on Friday in a massive disruption that affected companies and services around the world and highlighted dependence on software from a handful of providers.
When Neil Brazer, a resident of Pointe-Claire, received mail from Hydro-Quebec a few months ago, he tossed the envelopes aside because he thought they were just statements.
A global technology outage grounded flights, knocked banks and hospital systems offline and media outlets off air on Friday in a massive disruption that affected companies and services around the world and highlighted dependence on software from a handful of providers.
Here's the latest developments on the Canadian impacts of the global technology outage that is causing massive disruptions to companies and services around the world.
A Canmore family says they could only watch as a black bear attacked their dog and then slept in their backyard overnight as they waited for help from wildlife officers.
A global technology outage grounded flights, knocked banks and hospital systems offline and media outlets off air on Friday in a massive disruption that affected companies and services around the world and highlighted dependence on software from a handful of providers.
A global IT outage is causing disruptions at Maritime airports Friday morning.
The price of gas decreased overnight across the Maritimes.
A craft beverage company feels Manitoba's Liquor Marts need to boost the number of local drinks on their shelves. However, Manitoba Liquor and Lotteries said craft labels get significant showing inside Liquor Marts with more than 500 local products on offer.
A new movie being shot in Birds Hill Provincial Park next week means people will need to use an alternate entrance to get in.
The Royal Aviation Museum of Western Canada is apologizing after some ticketholders were turned away from seeing a Second World War aircraft.
A Saskatchewan not-for-profit is reeling after vandals inflicted thousands of dollars of damages at the Good Spirit Scout Camp.
Sixteen new recruits have been sworn into the Regina Police Service (RPS).
A new partnership is putting high performance training for Indigenous athletes at the forefront.
Some services in Waterloo region are feeling the string of a global IT outage affecting Mircosoft programs.
The Region of Waterloo says it's making good progress on its plan to assemble shovel-ready land in Wilmot Township.
A major internet outage affecting Microsoft is disrupting flights, banks, media outlets and companies across the world, with problems continuing hours after the technology company said it was gradually fixing an issue affecting access to Microsoft 365 apps and services.
The lawyer representing a woman who struck and killed a child while driving says a number of her Charter rights were violated.
Saskatoon police have arrested and charged two men in relation to the homicide of 24-year-old Melissa Duquette.
The Royal Canadian Air Force is celebrating its 100th anniversary with air shows across the continent. Saskatoon residents were treated to a visit from one of the rarest planes remaining from the Second World War, including a former pilot.
Temagami has been left without a financial institution after Scotiabank pulled out of the northern Ontario community earlier this week.
A global technology outage grounded flights, knocked banks and hospital systems offline and media outlets off air on Friday in a massive disruption that affected companies and services around the world and highlighted dependence on software from a handful of providers.
Sealed bottles of tattoo and permanent makeup ink, including some marked as sterile, contained millions of potentially dangerous bacteria, according to new research by the U.S. Food and Drug Administration.
A major internet outage affecting Microsoft is disrupting flights, banks, media outlets and companies across the world, with problems continuing hours after the technology company said it was gradually fixing an issue affecting access to Microsoft 365 apps and services.
Around 10 p.m. on Thursday, emergency crews responded to a two-vehicle crash in the area of County Road 15/Londsboro and County Road 8/Base Line, east of Goderich.
Local police are investigating a serious crash in south London earlier tonight involving a motor-bike.
A major internet outage affecting Microsoft is disrupting flights, banks, media outlets and companies across the world, with problems continuing hours after the technology company said it was gradually fixing an issue affecting access to Microsoft 365 apps and services.
Driver faces a bunch of charges for driving irresponsibly.
Police are investigating a bizarre incident after a passenger allegedly assaulted a driver before taking off in the vehicle only to return a short time later.
Local hospitals and border crossings are experiencing delays due to a worldwide Microsoft outage
A major internet outage affecting Microsoft is disrupting flights, banks, media outlets and companies across the world, with problems continuing hours after the technology company said it was gradually fixing an issue affecting access to Microsoft 365 apps and services.
A 46-year-old man has been charged with with two counts of possession of child pornography, two counts of accessing child pornography and two counts of making child pornography available.
Two people died and a third was seriously injured in a fiery plane crash in Tofino, B.C., on Thursday, according to authorities.
Police in Greater Victoria arrested a man early Thursday morning after he allegedly drove a stolen forklift through the front of a bike shop and made off with four e-bikes on the front of the machine.
Across the province, B.C.'s health authorities are pleading with doctors and offering hefty incentives to get them to pick up extra shifts, but emergency departments are facing increasing risk of closures, CTV News has learned.
A motorcyclist was severely injured in a crash with an SUV Sunday afternoon, according to the Kelowna RCMP.
A search effort is underway for a man who was swept away by the North Thompson River in Kamloops on Friday.
One person is dead and 17 others have been displaced after a stubborn fire burned overnight in a Kelowna apartment building.
One of two men accused of conspiring to kill police at the border blockade at Coutts, Alta., says he was worried about government overreach, food shortages and the COVID-19 vaccine.
In an effort to help raise funds for the YWCA Lethbridge and District, the women’s shelter is set to open an online auction to sell off its fitness equipment.
The Town of Redcliff’s boil water advisory ended Thursday.
Temagami has been left without a financial institution after Scotiabank pulled out of the northern Ontario community earlier this week.
The biggest event of the summer officially began Thursday afternoon in Sault Ste. Marie: the 101st RotaryFest.
The leader of the United Steelworkers union in Ontario is calling for an urgent meeting with Premier Doug Ford to ramp up efforts to re-open the AV Terrace Bay pulp mill, the northwestern Ontario community’s largest employer before it closed six months ago.
Firefighters began attacking a fire near Labrador City from the ground today, marking a new stage in the effort to get the roaring wildfire under control.
The latest protest against Ottawa's decision to reopen a commercial cod fishery drew a good line in downtown St. John's
A father in St. John's, N.L., is suing the Newfoundland and Labrador government over his son's death last year in the province's largest jail.
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