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Business News
Elliott Pushes for Major Changes at Phillips 66

Image: David A. Grogan | CNBC
Elliott Investment Management has increased its stake in U.S. refiner Phillips 66 to over $2.5 billion and is pushing for significant operational changes, including the sale of its midstream business. The activist investor previously disclosed a $1 billion stake in March, prompting Phillips 66 to announce a performance improvement plan, which Elliott claims has failed to deliver results. Elliott is calling for the sale or spin-off of the company’s midstream assets, which it believes could be worth over $60 billion, along with divesting its interests in CPChem and JET retail operations in Europe. Additionally, the firm is advocating for new independent board members and stronger commitments to refining profitability, particularly as industry margins decline. Phillips 66 has yet to respond to Elliott’s latest demands.
Altman Rejects Musk’s $97.4 Billion OpenAI Takeover Bid
OpenAI CEO Sam Altman has dismissed Elon Musk’s $97.4 billion bid to take control of the AI startup, accusing Musk of attempting to slow OpenAI’s progress rather than genuinely invest. In an interview at the Paris AI Summit, Altman criticized Musk’s competitive tactics, including lawsuits and aggressive business moves, suggesting Musk operates from a place of insecurity. While Musk was a co-founder of OpenAI, he left after disagreements and has since sued the company for allegedly prioritizing profit over its original mission. Despite Musk’s backing from investors, OpenAI’s board has control over any major decisions, but Altman firmly stated, “OpenAI is not for sale.” Meanwhile, the company is pursuing a massive fundraising round that could push its valuation to $300 billion.
What We’re Reading
20 Productivity Boosting Methods for the Positive Mind
Learn how to increase your effectiveness and save hours everyday.
“Heuristics” are conventions specified to help you solve problems. When an issue is large or complex, and the optimal solution is unclear, employing a heuristic lets you start making progress towards a resolution even though you can’t envision the entire path from your beginning point. Productivity heuristics are behavioral rules (general or situation-specific) that can help us get matters done more efficiently.
From each chapter you will learn:
The most effective way to complete a task
The necessity of having a clear focus and how to avoid buckling under distractions
To shoot down procrastination and set a productive tone for your day
Identify your apex cycles of productiveness and schedule your most crucial jobs for those times
And much more
Increase your effectiveness with this time-saving resource!
Tip of the Day
Leverage Data for Smarter Decisions
Regularly analyze key performance metrics to understand what’s working and what’s not. Use insights from analytics tools to refine marketing strategies, improve customer experience, and maximize ROI.
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