Rio Tinto, the $160 billion global mining giant, has successfully resisted an activist investor's push to review its dual-listed structure, with shareholders overwhelmingly voting against the proposal. The London-based hedge fund Palliser Capital had sought to unify the company's listings under a single Australian entity, arguing that the current structure is outdated and could unlock significant value for shareholders. However, less than 20% of the votes cast at the annual general meetings supported the review, falling short of the threshold required under UK corporate governance rules to mandate further consultation.

The outcome represents a significant victory for Rio Tinto's board, which had strongly opposed the proposal, citing potential tax costs in the mid-single digit billions of US dollars and asserting that unification is not in the best interests of shareholders or the company as a whole. The board's stance was supported by a wide consultation with shareholders, who ultimately agreed that the dual-listed structure should remain in place. This decision underscores the challenges activist investors face when attempting to sway large, established corporations with complex global operations.

Palliser Capital's campaign had drawn parallels with BHP's decision to move its primary listing to Sydney in 2022, following pressure from activist investors. However, Rio Tinto's shareholders, particularly those holding UK-listed stock which comprises about 77% of the investor base, showed little appetite for change. The Australian-listed shares, trading at a premium of about 25%, reflect the tax advantages available to Australian shareholders, a factor that may have influenced the voting outcome.

The rejection of Palliser's proposal also highlights the broader debate about the future of London's stock market, which has seen several high-profile companies consider or execute moves away from the UK. Despite these challenges, Rio Tinto's decision to maintain its dual-listed structure signals confidence in the current setup, at least for the foreseeable future. The company's ability to fend off the activist campaign may serve as a case study for other corporations facing similar pressures, demonstrating the importance of board-shareholder alignment in corporate governance decisions.

Bohemians FC, the fan-owned not-for-profit club, has launched a new jersey in partnership with the legendary band Oasis, ahead of their much-anticipated comeback tour. The jersey, designed to pay homage to Oasis and celebrate Dublin's cultural heritage, features the band's logo in traditional blue tones, 90s styling, and sublimated chevron patterns. Manufactured by O'Neill's Sportswear Ireland and designed in collaboration with Oasis, the jersey is a testament to the club's innovative approach to football merchandising.

The partnership extends beyond fashion, with all profits from the shirt sales being split between Bohemian FC and two charities. Fifty percent of the profits will support the club's football and community activities, while the remaining fifty percent will be equally divided between Music Generation Ireland and Irish Community Care Manchester. This initiative underscores Bohemians FC's commitment to leveraging football for social good, providing access to music for disadvantaged children in Ireland and supporting the Irish community in Manchester.

Reactions to the jersey have been mixed among fans and the broader football community. While some have praised the design and the charitable cause it supports, others have critiqued the club's focus on merchandise over on-pitch success. Despite the divided opinions, the jersey has garnered significant attention, highlighting Bohemians FC's unique position at the intersection of football, music, and philanthropy.

Daniel Lambert, Chief Operating Officer of Bohemian FC, expressed his delight at the collaboration, thanking Noel and Liam Gallagher for their support. Lambert emphasized the significance of the partnership, not only for the club but for the thousands of people across Ireland and Manchester who will benefit from the charitable contributions. As Bohemians FC continues to innovate both on and off the pitch, this latest venture with Oasis represents another chapter in the club's storied history of community engagement and cultural celebration.