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Corporate Responsibility

AMZN

Jeff Bezos, founder of Amazon.com Inc (NASDAQ:AMZN), is reported to have made his housekeeper sign an NDA emphasizing his high regard for privacy. The housekeeper, Mercedes Wedaa, sued Bezos alleging poor working conditions and racial bias. The NDA, now public, reveals strict confidentiality terms, including a clause giving Bezos the right to buy any content created about him for $10. Bezos also paid Wedaa $250 for signing the NDA.

Portfolio Pulse from Adam Eckert

December 19, 2023 | 3:27 pm

UFI

Unifi Aviation, a global aviation services leader, has seen its revenue more than double since 2021, becoming North America's largest aviation services company. As it celebrates its five-year anniversary, it has been recognized by Newsweek as one of 'America's Greatest Workplaces for Diversity' for 2024. The company has expanded by acquiring Up & Away, a UK-based aviation services firm, and launching operations in Canada with WestJet at Calgary International Airport. Unifi has also hired nearly 1000 new employees in Canada and expanded its teams in Orlando, San Francisco, and Atlanta.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 3:27 pm

IFF

IFF (NYSE:IFF) is expanding its partnership with Kemira to commercialize a new portfolio of renewable polymers derived from IFF's Designed Enzymatic Biomaterials (DEB) technology. These biopolymers, made from plant sugars, will be produced at industrial scale and integrated into Chemigate Ltd's biorefinery in Finland, operational by mid-2024. The collaboration aims to supply alternatives to fossil-based synthetic polymers for various markets, including pulp, paper, packaging, and water treatment. IFF's DEB technology, initially launched for home and personal care markets, will now offer high-performance material solutions to promote a circular bioeconomy. The materials will expand IFF's AURIST™ biopolymers and Nuvolve® engineered polysaccharides product lines.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 3:03 pm

BNTX

CVAC

EWG

CureVac N.V. announced that the German Federal Patent Court denied the validity of its patent EP 1 857 122 B1 after a nullity action by BioNTech SE. This decision does not impact other ongoing litigation in Germany involving seven other CureVac intellectual property rights. CureVac plans to appeal the decision at the German Federal Court of Justice. The company remains confident in its intellectual property portfolio and its contributions to mRNA COVID-19 vaccines. The scheduled ruling on infringement of the patent by BioNTech's Comirnaty is likely to be postponed.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:39 pm

LTHM

Allkem shareholders have voted in favor of a merger with Livent Corporation. The proposed scheme of arrangement will see Arcadium Lithium acquire all shares in Allkem. The merger aims to create a vertically integrated business model to enhance operational flexibility and value capture across the lithium value chain. Livent stockholders will vote on the Transaction Agreement on December 19, 2023. If approved, Allkem will seek court approval on December 20, 2023, and if successful, the Scheme will become effective on December 21, 2023, leading to a suspension of Allkem shares from trading.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:30 pm

COIN

Senator Elizabeth Warren has sent letters to Coinbase, the Blockchain Association, and Coin Center, questioning their hiring of former defense and national security officials. Warren is concerned about the crypto industry's use of these officials to gain legitimacy while opposing regulations aimed at preventing crypto from being used for terror financing. The industry defends its actions, stating that hiring experts is for bolstering legal compliance and innovation, and not to undermine bipartisan efforts in Congress.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:14 pm

AMZN

Amazon Web Services (AWS) is planning a major reorganization of its sales team, led by Matt Garman, to address customer complaints and internal issues. The restructuring will consolidate teams to unify sales strategies and improve the assignment of technical staff to customers. This move comes as AWS faces increased competition from Microsoft and others, and aims to maintain its position as the leading cloud provider.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:11 pm

SB

Safe Bulkers, Inc. has agreed to acquire a new Japanese Kamsarmax class dry-bulk vessel with a capacity of 82,000 dwt, to be delivered in the first half of 2026. The financial terms of the acquisition were not disclosed. The vessel will comply with the Phase 3 Energy Efficiency Design Index for GHG emissions reduction and NOx-Tier III emissions standards. It is a sister vessel to others in Safe Bulkers' orderbook, featuring advanced energy efficiency for reduced fuel consumption.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:08 pm

ACN

MCD

McDonald's Corporation (MCD) and Accenture (ACN) are expanding their strategic partnership to accelerate technology adoption, including generative AI, to improve operations and experiences for customers and employees. The partnership aims to leverage scale for efficiency, automate innovation, and enhance digital skills among McDonald's global workforce with Accenture's learning programs.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:01 pm

VERU

Veru Inc. announced an investor call on January 4, 2024, to discuss recent financing and its strategy to prioritize the development of enobosarm, a treatment for obesity that prevents muscle loss and augments fat loss in combination with GLP-1 drugs. The company plans a Phase 2b trial for enobosarm and expects first clinical data in Q4 2024. The recent financing is expected to support the company beyond the clinical milestones of this trial.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:42 pm