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EWBC

East West Bancorp, Inc. (NASDAQ:EWBC) has announced two key appointments to its executive leadership team. Irene Oh, previously the company's CFO, will assume the role of Executive Vice President and Chief Risk Officer following her retirement. Christopher Del Moral-Niles, who has 30 years of banking experience, will succeed Oh as the company's next Executive Vice President and CFO.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 12:19 pm

TIO

Tingo Group, Inc. (NASDAQ:TIO) has announced the appointment of Amir Ayalon as the Group's CFO, C. Derek Campbell as a Group Independent Director and Chairman of the Company's new Strategic Growth Committee, and Gabriel David as Chief Audit Executive. The current Group CFO, Kevin Chen, will become the Asia CFO. The appointments are expected to bring financial, strategic, and leadership expertise to the company.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 12:16 pm

SHIBUSD

A 35-year-old former supermarket warehouse manager, Rob, retired early after his $8,000 investment in Shiba Inu (CRYPTO: SHIB) reaped him $500,000. Rob invested in SHIB in 2021 and saw the coin's price skyrocket 1,200 times higher than its value in February. He withdrew $500,000 worth of SHIB coins and transferred the sum to his bank account. If he had held onto his SHIB holdings, his investment would have ballooned to approximately $3.36 million.

Portfolio Pulse from Mehab Qureshi

October 02, 2023 | 12:04 pm

MTX

Minerals Technologies Inc's subsidiaries, Barretts Minerals Inc and Barretts Ventures Texas LLC, have filed for Chapter 11 bankruptcy to address liabilities associated with talc. They plan to operate normally during the bankruptcy process and intend to sell talc assets to fund the case. The subsidiaries have received a $30 million debtor-in-possession financing from JMB Capital Partners Lending, LLC. No other subsidiaries of Minerals Technologies are included in the filing. MTX shares closed lower by 0.87% at $54.76 on Friday.

Portfolio Pulse from Shivani Kumaresan

October 02, 2023 | 12:01 pm

VTRS

Viatris Inc (VTRS) has announced multiple deals to sell assets as part of Phase 1 of its planned asset disposition, expected to conclude by the end of this year. The company anticipates gross proceeds of about $6.94 billion from all asset sales. The net proceeds will be used to reduce debt, aiming for a gross leverage target of 3.0x in H1 2024. The deals include selling its Over-the-Counter (OTC) business, API business in India, and Women's Healthcare business. VTRS shares are trading higher by 2.33% premarket.

Portfolio Pulse from Lekha Gupta

October 02, 2023 | 11:50 am

BTCUSD

Robert Kiyosaki, author of 'Rich Dad Poor Dad', has advised individuals to invest in Bitcoin, gold, and silver as a hedge against hyperinflation. This advice comes after the recent U.S. inflation reading, which did not present any significant surprises. Kiyosaki also expressed concerns about the potential introduction of Central Bank Digital Currencies (CBDCs) and the erosion of privacy they could cause.

Portfolio Pulse from Mehab Qureshi

October 02, 2023 | 11:47 am

BABA

Alibaba Group Holding Limited (NYSE:BABA) is undergoing a significant business transformation, including leadership changes within its core e-commerce unit, Taobao and Tmall Group. Trudy Dai Shan has relinquished her roles at several Alibaba subsidiaries to focus on Alibaba's primary e-commerce operations. Alibaba clarified that these changes are routine business registration adjustments at the subsidiary level. The company is also restructuring into six primary groups and spinning off its logistics network, Cainiao, for an IPO in Hong Kong. However, the overall market's performance and delay in Cainiao's listing have tempered the excitement surrounding this move.

Portfolio Pulse from Anusuya Lahiri

October 02, 2023 | 11:37 am

VVX

V2X has appointed Shawn Mural as its Senior Vice President and CFO, following the retirement of Susan Lynch.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 11:34 am

PEV

Phoenix Motor has signed a non-binding convertible bond term sheet of up to $300M with a California-based investor. The funding is intended to support the potential acquisition of commercial electric vehicle assets, for which Phoenix has expressed interest.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 11:27 am

CMI

Cummins Inc has completed the acquisition of two commercial vehicle manufacturing plants from Faurecia for €199.2 million. The acquisition is expected to enhance Cummins' existing mixer portfolio and ensure continued access to the technology and facilities it needs to meet current and future demand for low-emissions products.

Portfolio Pulse from Shivani Kumaresan

October 02, 2023 | 11:26 am