Good morning and happy Memorial Day weekend. Here are the biggest stories in business and tech to know for the (short) week ahead. — Charlotte Cowles

Exxon Mobil suffered a surprising defeat when climate activist investors won at least two seats on its 12-member board on Wednesday. The investors are part of a small new hedge fund called Engine No. 1 that aims to push companies toward green initiatives and away from fossil fuels. Its campaign faces a steep uphill battle in the energy industry, but this recent victory could galvanize more Wall Street investment firms to confront climate change. Adding to the momentum, a Dutch court ruled that Royal Dutch Shell, Europe’s largest oil company, isn’t working fast enough to reduce greenhouse gas emissions and must redouble its efforts.

For the past three weeks, Apple vigorously (and expensively) defended itself in federal court…

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