Streetbeat News

Corporate Responsibility

LYFT

Lyft has reached a settlement with the New York Attorney General's Office, allowing drivers to maintain their independent contractor status while gaining new benefits. The agreement includes a minimum earnings standard of $26 per hour for engaged time for drivers outside New York City, and eligibility for benefits such as paid sick leave. The settlement resolves an investigation into the classification of drivers and certain fees charged by Lyft between 2015-2017. Lyft expects to make a payment of approximately $20 million in Q4 of 2023, with the remainder paid in 23 monthly installments.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 3:06 pm

JPM

Chase has announced plans to hire 1,000 new business bankers across the United States by 2025, doubling its original goal of hiring 500 bankers by 2024. This move is aimed at supporting small business owners as they continue to grow and scale their businesses. The announcement comes as Chase hosts its inaugural 'Make Your Move Summit', a three-day event for small business owners. The firm has also committed $253.7 million in philanthropic capital to community-focused organizations serving small businesses.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 2:27 pm

PYPL

PayPal Holdings, Inc. (NASDAQ:PYPL) has promoted Archie Deskus to the position of Executive Vice President, Chief Technology Officer (CTO). Deskus, who previously served as PayPal's Chief Information Officer (CIO) since March 2022, will now oversee PayPal's global technology, engineering, and information organizations. She will also lead the planning, management, delivery, and transformation of PayPal's technology stacks, systems support, and infrastructure. Deskus joined PayPal from Intel, where she served as Senior Vice President and CIO. She also served as Senior Vice President and CIO for Hewlett Packard Enterprise (HPE).

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 1:41 pm

MARA

Marathon Digital Holdings (NASDAQ:MARA) has launched a Bitcoin mining pilot project in Utah, powered by landfill methane gas. The project is part of a broader initiative to capture methane from landfills, convert it into electricity, and use it to power Bitcoin miners. This could help reduce greenhouse gas emissions while utilizing a renewable and off-grid energy source. If successful, the company plans to expand its footprint in this area.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 1:18 pm

ARRY

Array Technologies (NASDAQ:ARRY) has announced plans for a $50 million expansion in New Mexico, which includes a new manufacturing campus in Bernalillo County. The expansion is expected to secure hundreds of jobs and create nearly 100 new ones over the next few years. The state has awarded Array $2.5 million in economic assistance from the Local Economic Development Act to assist with land, buildings, and infrastructure costs. The expansion is expected to have an economic impact of more than $300 million over 10 years.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 1:07 pm

SFBS

ServisFirst Bank, a subsidiary of ServisFirst Bancshares (NYSE:SFBS), announced the retirement of its founding CFO, William 'Bud' Foshee, effective after the filing of the Form 10-K in February 2024. Kirk Pressley, former CFO of BBVA Compass Bancshares, has been appointed as Foshee's successor. The bank expects a seamless transition due to Pressley's extensive experience in larger organizations.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 12:59 pm

ELAN

Elanco Animal Health has partnered with Athian to reduce methane emissions in food production. The collaboration aims to transform the food production industry by reducing its environmental impact.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 12:07 pm

SILK

Silk Road Medical has appointed Chas McKhann as its new Chief Executive Officer.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 12:05 pm

PLTR

Joe Lonsdale, co-founder of Palantir Technologies Inc., discussed the company's role in the ongoing Israel-Hamas conflict. He emphasized the importance of keeping the 'good guys armed and ahead' and expressed concern over the unstable situation in Israel. Lonsdale also highlighted the impact of artificial intelligence in enhancing naval operations and disabling drones. He affirmed Palantir's dedication to keeping the U.S. 'more advanced to their enemies'.

Portfolio Pulse from Navdeep Yadav

November 02, 2023 | 11:51 am

HUBC

HUB Cyber Security has appointed Kobi Levi as its new CFO, effective from November 19, 2023. Levi has a rich background, having worked with top-tier tech companies like Apple, Netflix, and Amazon.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 11:45 am