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(Reuters) -Proxy firm Glass Lewis has recommended that Tesla shareholders vote against the proposed $1 trillion pay package for CEO Elon Musk, days after ISS also urged investors to reject what might be the largest-ever compensation plan awarded to a company chief. The Glass Lewis recommendation adds pressure to Tesla's board ahead of a closely watched shareholder meeting on November 6 and renews scrutiny of Musk's compensation after a Delaware court earlier voided his $56 billion pay package. Glass Lewis said the potential decrease in shareholder value and details of the proposed payment terms "warrant significant concern." The recommendations by Glass Lewis and ISS "attempt to override the mandate our shareholders delivered to Elon and ignore the staggering financial results delivered under Elon's leadership, elevating their rigid policies over shareholder value," Tesla said in a post on X. "Glass Lewis's one-size-fits-all checklists undermine shareholders' interests, including by opposing proposals designed to build long-term value at Tesla," the EV maker said. The two proxy advisory firms had last year also urged shareholders to reject the $56 billion pay package, calling the compensation excessive. Last month, Tesla's board proposed the compensation plan for Musk in what it described as the largest corporate pay package in history, setting ambitious performance targets and aiming to address his push for greater control over the company. However, the record pay plan could still hand him tens of billions of dollars even if he falls short of most of its ambitious targets, thanks to a structure that rewards partial achievement and soaring share prices. Glass Lewis has also opposed a vote on Tesla making an investment in Musk's artificial intelligence company, xAI. While the proxy adviser does not necessarily disagree with the investment, it says that such a "decision needs to be fully considered and ultimately decided by the board, not shareholders." The proxy adviser's guidance on the pay and investment is part of a wider set of voting recommendations issued on Monday. (Reporting by Juby Babu in Mexico City; Editing by Maju Samuel)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Reuters) -Proxy firm Glass Lewis has recommended that Tesla shareholders vote against the proposed $1 trillion pay package for CEO Elon Musk, days after ISS also urged investors to reject what might be the largest-ever compensation plan awarded to a company chief. The Glass Lewis recommendation adds pressure to Tesla's board ahead of a closely watched shareholder meeting on November 6 and renews scrutiny of Musk's compensation after a Delaware court earlier voided his $56 billion pay package. Glass Lewis said the potential decrease in shareholder value and details of the proposed payment terms "warrant significant concern." The recommendations by Glass Lewis and ISS "attempt to override the mandate our shareholders delivered to Elon and ignore the staggering financial results delivered under Elon's leadership, elevating their rigid policies over shareholder value," Tesla said in a post on X. "Glass Lewis's one-size-fits-all checklists undermine shareholders' interests, including by opposing proposals designed to build long-term value at Tesla," the EV maker said. The two proxy advisory firms had last year also urged shareholders to reject the $56 billion pay package, calling the compensation excessive. Last month, Tesla's board proposed the compensation plan for Musk in what it described as the largest corporate pay package in history, setting ambitious performance targets and aiming to address his push for greater control over the company. However, the record pay plan could still hand him tens of billions of dollars even if he falls short of most of its ambitious targets, thanks to a structure that rewards partial achievement and soaring share prices. Glass Lewis has also opposed a vote on Tesla making an investment in Musk's artificial intelligence company, xAI. While the proxy adviser does not necessarily disagree with the investment, it says that such a "decision needs to be fully considered and ultimately decided by the board, not shareholders." The proxy adviser's guidance on the pay and investment is part of a wider set of voting recommendations issued on Monday. (Reporting by Juby Babu in Mexico City; Editing by Maju Samuel)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Caroline Valetkevitch NEW YORK (Reuters) -Major stock indexes gained sharply on Monday as investors awaited more quarterly results from some big U.S. companies this week, with U.S. Treasury yields edging lower ahead of upcoming U.S.-China trade discussions. Gold prices rose more than 2% on expectations of further U.S. interest rate cuts and sustained safe-haven demand. Investors are also monitoring the U.S. federal government shutdown, now in its 20th consecutive day. Key economic reports have not been published by government agencies as a result, although the September U.S. Consumer Price Index report is expected to be released on Friday. The U.S. quarterly reporting period has unofficially entered its second week, and investors are keen to see reports this week from Tesla, IBM, Netflix, Procter & Gamble, Coca-Cola and other big names. On Wall Street, the three major U.S. stock indexes each rose more than 1%, led by gains in Nasdaq. Technology was a leader among the benchmark S&P 500's sectors. "Some big, large-cap stalwarts are going to be reporting," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. "Of course, if we see some disappointing earnings, that could affect the market negatively. But investors come into the week with rose-colored glasses on, feeling very good about where we've gone this year." The Dow Jones Industrial Average rose 551.32 points, or 1.19%, to 46,741.93, the S&P 500 advanced 76.89 points, or 1.15%, to 6,740.90 and the Nasdaq Composite climbed 338.08 points, or 1.49%, to 23,018.06. As U.S. regional banks' earnings keep rolling in, some market watchers said tighter credit conditions could remove some froth in the market. MSCI's gauge of stocks across the globe rose 12.27 points, or 1.25%, to 996.17. European shares closed higher as initial concerns over the stability of the U.S. banking sector eased. The pan-European STOXX 600 index rose 1.03%. Japan's Nikkei jumped 2.8% to a record as a coalition deal set the stage for pro-stimulus Sanae Takaichi to become prime minister. On the U.S. trade front, U.S. Treasury Secretary Scott Bessent said on Friday he expects to meet this week with Chinese Vice Premier He Lifeng in Malaysia to try to forestall an escalation of U.S. tariffs on Chinese goods that U.S. President Donald Trump said was unsustainable. Trump also confirmed he would meet with Chinese President Xi Jinping in two weeks in South Korea and expressed admiration for the Chinese leader. The yield on benchmark U.S. 10-year notes fell 2.3 basis points to 3.986%, from 4.009% late on Friday. The dollar was little changed against the yen and other currencies. Markets were reducing the odds of a Bank of Japan rate hike this month to just over 20%, while in France, political tensions eased. The Federal Reserve still is widely expected to cut interest rates by a quarter-point next month and again in December. The dollar index, which measures the greenback against a basket of currencies, rose 0.03% to 98.56, with the euro down 0.03% at $1.1648. Against the Japanese yen, the dollar was last up 0.02%. Spot gold rose 2.7% to $4,363.34 an ounce, while oil prices settled at their lowest since early May amid worries about a potential supply glut. Brent crude futures fell 28 cents, or 0.46%, to settle at $61.01 a barrel. U.S. West Texas Intermediate futures eased 2 cents, or 0.03%, to $57.52. (Reporting by Caroline Valetkevitch in New York and Naomi Rovnick in London; additional reporting by Wayne Cole in Sydney; Editing by Alex Richardson, Jan Harvey and Richard Chang)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Caroline Valetkevitch NEW YORK (Reuters) -Major stock indexes gained sharply on Monday as investors awaited more quarterly results from some big U.S. companies this week, with U.S. Treasury yields edging lower ahead of upcoming U.S.-China trade discussions. Gold prices rose more than 2% on expectations of further U.S. interest rate cuts and sustained safe-haven demand. Investors are also monitoring the U.S. federal government shutdown, now in its 20th consecutive day. Key economic reports have not been published by government agencies as a result, although the September U.S. Consumer Price Index report is expected to be released on Friday. The U.S. quarterly reporting period has unofficially entered its second week, and investors are keen to see reports this week from Tesla, IBM, Netflix, Procter & Gamble, Coca-Cola and other big names. On Wall Street, the three major U.S. stock indexes each rose more than 1%, led by gains in Nasdaq. Technology was a leader among the benchmark S&P 500's sectors. "Some big, large-cap stalwarts are going to be reporting," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. "Of course, if we see some disappointing earnings, that could affect the market negatively. But investors come into the week with rose-colored glasses on, feeling very good about where we've gone this year." The Dow Jones Industrial Average rose 551.32 points, or 1.19%, to 46,741.93, the S&P 500 advanced 76.89 points, or 1.15%, to 6,740.90 and the Nasdaq Composite climbed 338.08 points, or 1.49%, to 23,018.06. As U.S. regional banks' earnings keep rolling in, some market watchers said tighter credit conditions could remove some froth in the market. MSCI's gauge of stocks across the globe rose 12.27 points, or 1.25%, to 996.17. European shares closed higher as initial concerns over the stability of the U.S. banking sector eased. The pan-European STOXX 600 index rose 1.03%. Japan's Nikkei jumped 2.8% to a record as a coalition deal set the stage for pro-stimulus Sanae Takaichi to become prime minister. On the U.S. trade front, U.S. Treasury Secretary Scott Bessent said on Friday he expects to meet this week with Chinese Vice Premier He Lifeng in Malaysia to try to forestall an escalation of U.S. tariffs on Chinese goods that U.S. President Donald Trump said was unsustainable. Trump also confirmed he would meet with Chinese President Xi Jinping in two weeks in South Korea and expressed admiration for the Chinese leader. The yield on benchmark U.S. 10-year notes fell 2.3 basis points to 3.986%, from 4.009% late on Friday. The dollar was little changed against the yen and other currencies. Markets were reducing the odds of a Bank of Japan rate hike this month to just over 20%, while in France, political tensions eased. The Federal Reserve still is widely expected to cut interest rates by a quarter-point next month and again in December. The dollar index, which measures the greenback against a basket of currencies, rose 0.03% to 98.56, with the euro down 0.03% at $1.1648. Against the Japanese yen, the dollar was last up 0.02%. Spot gold rose 2.7% to $4,363.34 an ounce, while oil prices settled at their lowest since early May amid worries about a potential supply glut. Brent crude futures fell 28 cents, or 0.46%, to settle at $61.01 a barrel. U.S. West Texas Intermediate futures eased 2 cents, or 0.03%, to $57.52. (Reporting by Caroline Valetkevitch in New York and Naomi Rovnick in London; additional reporting by Wayne Cole in Sydney; Editing by Alex Richardson, Jan Harvey and Richard Chang)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)