1. D.E. Shaw Is Said to Push Exxon to Cut Spending, Costs

    D.E. Shaw Is Said to Push Exxon to Cut Spending, Costs

    D.E. Shaw & Co. has built a sizable position in Exxon Mobil Corp. and is calling on the company to cut its spending to improve performance and maintain its dividend, according to people familiar with the matter. The investor on Tuesday sent a letter to Exxon arguing that changes are needed because the oil major has consistently underperformed rival Chevron Corp. , said the people, who asked not to be identified because the details are private. D.E...

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    1. Exxon is in the early stages of the cost reduction story.
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