Elliot Management calls the offer of Hess Corp of two directors a "PR stunt". In a bid to appease Elliott Management, Hess Corp has offered the maverick investment fund two seats on the board.

Glass Lewis recommends to shareholders not to vote for proposed executive compensation package. According to proxy advisory firm Glass Lewis, shareholders of Goldman Sachs Group Inc should vote against the proposed executive compensation as the board has 'failed to link pay with performance'.

Coleman Cannon adds his expertise to the San Francisco office of Silicon Legal Strategy. Silicon Legal Strategy disclosed today the addition of Coleman Cannon as Senior Associate in its San Francisco headquarters.

Glencore Xstrata decides on work stoppage to cut costs amidst falling demand and declining prices for coal in the world market.

Iceland's current dilemma is removal of capital controls but by increasing the money supply, it would present long term risks to its capital market.

Carson Block is on the attack against the debt portfolio of Standard Chartered bank. Carson Block is hedging against the debt portfolio of Standard Chartered Plc, saying that the UK bank is earning most of its profits from Asia due to its loan quality deterioration.

The foreign exchange regulatory agency of China, upon orders of the State Council, has abolished regulations that lead to red tape and promotes non transparency.

Bloomberg, in a response to a complaint made by Goldman Sachs, removes reporters access to its terminals.

Bloomberg CEO Daniel Doctoroff called the access to journalists fiasco a 'mistake'. Bloomberg LP CEO Daniel Doctoroff said, after receipt of reports that users of the company terminals were investigating potential leaks of information, said that the company committed a 'mistake' by providing journalists access to data on a client's terminal usage.

Gulf coast countries, wary of the Euro Debt crisis and other factors, are choosing to invest at home rather than overseas.