ExxonMobil

The paradox of shareholder capitalism

An illustration of a man walking on stairs.
Illustration: Sarah Grillo/Axios

How much power do shareholders have over companies? Judging by Uber CEO Dara Khosrowshahi's comments to "Axios on HBO" this week, it must be quite a lot.

Catch up quick: Khosrowshahi praised Yasir Al-Rumayyan, who sits on Uber's board and is a close friend of Saudi Crown Prince Mohammed bin Salman. "He's been a very constructive board member," Khosrowshahi said, "and I personally have valued his input greatly."

Exxon and Chevron profits tumble in Q3 earnings report

Exxon sign
Photo: Spencer Platt/Getty Images

ExxonMobil and Chevron both reported steep declines in Q3 earnings this morning, becoming the latest oil giants hit by lower prices.

Why it matters: Exxon is the largest U.S.-based multinational oil-and-gas company, and its financial performance has struggled in recent years.