Norges Bank Investment Management backs Disney in board room fight with hedge funds

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Norges Bank Investment Management, one of Walt Disney's biggest investors, said on Tuesday that it voted to re-elect the entertainment giant's directors...

FILE PHOTO: A screen shows the trading info for Walt Disney Company company on the floor of the NYSE in New YorkNEW YORK - Norges Bank Investment Management, one of Walt Disney's biggest investors, said on Tuesday that it voted to re-elect the entertainment giant's directors, dealing a blow to the hedge funds pushing for seats on Disney's board.

It did not vote for any candidates proposed by hedge funds Trian Fund Management or Blackwells Capital.HONG KONG — Wall Street drifted lower in premarket trading Tuesday ahead of this week's trove of data from the labor market that could influence the Federal Reserve's decision on interest rates later this spring. Futures for the S&P 500 slipped 0.3% before the bell while futures for the Dow Jones Industrial Average fell 0.4%.

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