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MetLife, Inc. Preferred Series A Floating Rate

21.7200
USD
-1.14%
21.7200
USD
-1.14%
20.1301 26.4848
52 weeks
52 weeks

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Amazon investor proposal to review plastic use narrowly fails to clear

May 27 (Reuters) - Amazon.com Inc's AMZN.O investor-led proposal to review its use of plastic won 49% support even as shareholders voted down all the 15 resolutions at the e-commerce giant's annual general meeting, a regulatory filing showed on Friday. It was the only proposal that came close to reaching the 51% mark for approval. Investors opposed resolutions that challenged the company's policies on various issues, including the treatment of workers and use of non-disclosure agreements. To be sure, about 13% of the company's voting stock is controlled by Founder and Executive Chairman Jeff Bezos, raising the bar for any effort to win a majority of investor support. The proposal for a report on whether Amazon cloud, surveillance and other capabilities contribute to human rights violation won 40% support. But an overwhelming 87% voted down a proposal calling Amazon to review worker safety. Only 39% of votes were in favor of a resolution related to unionization of workers, but 47% backed a report on whether Amazon's lobbying activities were consistent with the best interest of the shareholders. A move to review Amazon's facial recognition technology got 41% votes in favor, while a report for more details on gender and racial pay managed to get support from just 29% of the shareholders. The resolutions are non-binding, but companies often take some form of action if they receive backing of 30% to 40% of votes cast. Separately, investors backed the company's proposal to approve executive compensation, elect director nominees and consider a stock split by a big margin. (Reporting by Eva Mathews in Bengaluru; Editing by Arun Koyyur) ((Eva.Mathews@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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