Axios Exxon shareholders, bucking company management, voted to install at least two new members to the oil giant's board in a push to make Exxon more aggressive on addressing climate change and more disciplined in its oil investments.Why it matters: Exxon management campaigned strongly against the entire slate of four people nominated by Engine No. 1, the activist investment group whose campaign was backed by several major pension funds.Stay on top of the latest market trends and economic insights with Axios Markets. Subscribe for freeThe election of two of the four would avoid what could have been a categorical rebuke of the oil giant's strategy, but it still represents significant investor dissent.The vote in favor of the two new board members shows that many investors see Exxon, which has had a rocky financial performance in recent years, as poorly positioned for the future. Driving the news: Shareholders voted to add Gregory Goff and Kaisa Hietala at the oil giant's annual meeting Wednesday, Exxon said at the conclusion of voting. Tabulations on other candidates are still pending, though one of the Engine No. 1 candidates was voted down, Exxon stated in a press release. It's possible that one other activist candidate will still prevail.Hietala is a a former renewables executive with the refining company Neste and Goff is the former CEO of the refiner Andeavor.What they're saying: Charlie Penner, one of Engine No. 1's leaders, told shareholders at the meeting that Exxon management is "determined to fight off the future for as long as possible," but added: "change is coming. "The big picture: The battle over replacing members of Exxon's 13-person board comes amid increasing pressure on oil majors to do more on climate change.European-based multinational giants are diversifying more widely and vowing long-term transformations to "net-zero" emissions companies by 2050.Engine No. 1 also says Exxon lacks "any serious diversification efforts" that will prepare it to thrive in a low-carbon world. The group says Exxon needs a more cautious investment approach around oil and gas.Engine No. 1's candidates won the backing of some of the company's largest shareholders, including BlackRock, Vanguard, and State Street.Yes, but: Exxon says it's in step with the evolving energy mix, citing growing emphasis on carbon capture and large market opportunities there, and efforts on hydrogen and biofuels.Exxon also argues its adjusted capital strategy will deliver strong returns in oil and gas, which it notes will remain huge markets for decades despite low-carbon energy growth.The company recently set new near- and medium-term targets to cut emissions intensity (that is, emissions per unit of output), but has eschewed the long-term carbon neutrality vows of its European peers.“ExxonMobil is in a strong position to create differentiating value throughout the energy transition,” CEO Darren Woods said, touting Exxon's oil-and-gas portfolio and its investment in climate technologies. "We welcome the new directors Gregory Goff in Kaisha Hietala to the board and look forward to working with them constructively and collectively on behalf of all shareholders," Woods said.Go deeper: The intensifying battle for Exxon's futureLike this article? Get more from Axios and subscribe to Axios Markets for free.<doc-sep>LAS VEGAS (KTNV) — Las Vegas was hit with a surprise snowstorm Sunday evening. Viewers from all over the valley sent photos of video of snow in their neighborhoods to 13 Action News. Snow was reported in Southern Highlands, Henderson, Centennial Hills, Chinatown and Boulder City. It was the first time in more than a decade that the Las Vegas valley has seen a significant accumulation. More than 2 inches was predicted for some parts of the valley. A trace of snow had been recorded at McCarran International Airport as of 10 p.m. It was the first measurable snow since Dec. 17, 2008, when 3.6 inches was recorded. A Winter Weather Advisory is in effect until 4 a.m. Temperatures are expected to fall as low as 34 degrees. It’s not expected to be much warmer the rest of the week. The high on Monday is expected to reach 48 degrees with an overnight low near 30. The high on Tuesday will be bear 46. And on Wednesday, we could see more of the white stuff.<doc-sep>Close Get email notifications on {{subject}} daily! Your notification has been saved. There was a problem saving your notification. {{description}} Email notifications are only sent once a day, and only if there are new matching items.<doc-sep>
Snowflakes made a rare appearance in Las Vegas as cold air plunged into the deserts of the southwestern United States on Sunday night. Residents and visitors across the city flocked to social media to post photos and videos of the rare snow event. Las Vegas recorded a high temperature of 57 degrees Fahrenheit on Sunday afternoon, but a cold front passed through the area during the evening hours and sent temperatures tumbling into the upper 30s. Light snow accompanied the front's passage through the region, along with gusty winds that whipped the snow through the air. Due to the prior mild conditions, the snow mainly accumulated on elevated surfaces, such as vehicles, trash cans and outdoor furniture, as opposed to roads and sidewalks. This was the first snowfall in the city since a trace of snow fell in December 2015. Las Vegas averages 0.3 of an inch of snow in a year. GRAPEVINE: I-5 is now CLOSED in both directions due to inclement weather. Closure on Southbound I-5 at Grapevine Road, northbound closure near State Route 138. No ETO at this time. pic.twitter.com/tv5XPt5FGJ — Caltrans District 6 (@CaltransDist6) February 11, 2019 Snow also fell across the Grapevine in Southern California, forcing the closure of Interstate 5 in both directions. This was the same cold front that brought heavy snowfall to the Seattle metro area this past weekend. las vegas snow Trash cans covered with snow in Las Vegas, Nevada, on Sunday night, Feb. 10, 2019. (Twitter/@Reb_Hombre) A post shared by Mike White (@liftingandinklv) on Feb 10, 2019 at 8:25pm PST It is snowing in Las Vegas and my dog has no idea what is happening. 🤣😁👍🌨❄☃️#dogs#polarvortex#snowpic.twitter.com/KYW1sXRX7U — DeCarleyTrading.com (@carleygarner) February 11, 2019 las vegas snow 2 A car dusted with snow in Las Vegas, Nevada, on Sunday night, Feb. 10, 2019. (Twitter/@Reb_Hombre) ❄ Well this doesn't happen very often! We are seeing some flakes at the NWS Las Vegas office with nothing able to stick. Enjoy it because it won't last much longer! ❄ #vegasweather#nvwxpic.twitter.com/ufuO1UG6zV — NWS Las Vegas (@NWSVegas) February 11, 2019