Elliott Boosts Equinix Stake, Urges BP Chairman to Fix Cost Base, Capital Allocation, and Turnaround Plan

Elliott Investment Management, a prominent activist investor, has increased its stake in Equinix, the data center operator, and is urging the company to implement measures to enhance its share price. Separately, Elliott, one of the largest shareholders in BP Plc, has called on the energy giant's incoming chairman to urgently address the company’s cost base, capital allocation, and a turnaround plan that has been poorly received. Elliott emphasized the need for decisive and effective leadership to overcome BP’s chronic operational underperformance. The new BP chairman’s track record has been noted as a potential model for making BP more comparable to major oil companies like Exxon and Chevron. Meanwhile, Rosneft has re-elected a former Qatari energy minister as its company chairman.