Morning Agenda: Peltz Challenges Procter & Gamble

The company’s annual meeting is scheduled for the fall, later than many rivals’, and Mr. Peltz’s move adds to a list of activist campaigns in recent months:

Just weeks ago, Third Point set its sights on Nestlé and pushed for it to sell its stake in L’Oréal.

Jana Partners pushed for change at Whole Foods and reaped the benefits when the grocery chain sold itself to Amazon.

Land and Buildings has pushed for Saks to consider selling its real estate.

Brexit Talks Resume. But First, Some Squabbling.

“Brexit” talks resume today, and David Davis, Britain’s top negotiator on the country’s departure from the European Union, has said he wants to “get down to business.”

But Prime Minister Theresa May’s cabinet members appear busier with another task: fighting among themselves.

The chancellor of the Exchequer, Philip Hammond, has accused hard-line supporters of Brexit of trying to undermine his efforts to set up a business-friendly departure process.

The government is still divided over whether to seek a so-called soft Brexit, which Mr. Hammond has called for, or a clean break. Mr. Hammond wants the transition to last two years, while the trade secretary, Liam Fox, wants it to be a couple of months.

“It depends how long we need to put in place new customs systems, new migration systems — these things can’t be magicked up overnight,” Mr. Hammond told the BBC on Sunday.

The negotiations have brought other initiatives to a standstill, including a six-year push to impose a tax on financial transactions, as the European Union tries to redraw the financial map ahead of Britain’s departure from the bloc, Bloomberg has reported.

Mr. Hammond, faced with reports that he was deliberately trying to frustrate Brexit, said, “Some of the noise is generated by people who are not happy with the agenda that I have tried to advance over the last weeks, which is focused on protecting our economy, protecting…

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