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Corporate Responsibility

CZOO

Cazoo Group Ltd (NYSE:CZOO) has updated the settlement methodology for the exchange of its $630 million 2.00% Convertible Senior Notes due 2027. The exchange will now include $200 million of 4.00%/2.00% senior secured notes due 2027 and a significant portion of Class A ordinary shares, representing 92% of the total Class A shares post-exchange. The new settlement method rounds to the nearest permitted denomination instead of rounding down for the New Notes, which will be issued in minimum denominations of $1,000. The settlement date is set for December 6, 2023.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 11:46 am

BIDU

NVDA

NVIDIA Corp. CEO Jensen Huang has recognized Huawei Technologies as a significant competitor in the AI chip market. During his visit to Singapore, he acknowledged the competition from Huawei, Intel, and various startups. Huawei has impressed the industry with a sophisticated smartphone processor and is a key player in China's independent chip environment. NVIDIA plans to launch new products for the Chinese market, complying with U.S. regulations. Baidu Inc. has switched from NVIDIA to Huawei for AI chips, highlighting shifts in global tech partnerships due to U.S. tech export restrictions.

Portfolio Pulse from Benzinga Neuro

December 06, 2023 | 11:40 am

XOM

ExxonMobil announced an update to its corporate plan extending through 2027, with a focus on delivering $6 billion in additional structural cost reductions by the end of 2027. This strategic update emphasizes the company's commitment to increasing efficiency and reducing costs.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 11:31 am

AMZN

Wilson Lima, the governor of Amazonas state in Brazil, is requesting Jeff Bezos to pay royalties for Amazon.com Inc.'s use of the 'Amazon' name. Lima plans to discuss this at the COP28 climate summit and has highlighted the importance of the Amazon rainforest on Instagram. Bezos, with a net worth of $171 billion, has contributed to environmental causes through the Bezos Earth Fund. The Brazilian government also announced a new $205 million fund to preserve the Amazon rainforest at COP28.

Portfolio Pulse from Benzinga Neuro

December 06, 2023 | 11:29 am

MLGO

MicroAlgo, referred to as MLGO in the article, is setting up a postgraduate training practice base to enhance research and development capabilities.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 11:06 am

AAPL

FXI

INDA

Apple Inc. is reportedly shifting towards manufacturing iPhone batteries in India, as part of its strategy to diversify its supply chain away from China. This move is seen as an effort to mitigate risks associated with over-reliance on Chinese manufacturing and to take advantage of potential cost savings and favorable government policies in India.

Portfolio Pulse from Charles Gross

December 06, 2023 | 10:09 am

NIO

China-based electric vehicle maker Nio is planning to spin off its battery manufacturing unit, according to Reuters. The strategic move is aimed at reducing costs and improving efficiency within the company.

Portfolio Pulse from Charles Gross

December 06, 2023 | 9:53 am

WU

Western Union is expanding its retail network in Europe by opening 100 concept stores and company-owned hubs, aiming to enhance customer experience and promote financial inclusion.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 8:13 am

TMO

Thermo Fisher Scientific Inc. (NYSE:TMO) has entered into a 15-year virtual power purchasing agreement (VPPA) with ib vogt for a 91-megawatt portion of the Serbal solar project. This will provide Thermo Fisher with approximately 192,000 megawatt hours of renewable electricity annually, covering over half of its European sites with 100% renewable energy by January 2025. Eurofins Scientific also joined the deal for a 36-megawatt portion, aiming to reduce both companies' Scope 2 and Scope 3 emissions.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 8:05 am

MSFT

Microsoft Corp. (NASDAQ:MSFT) has undergone a major reshuffle in its security leadership. Igor Tsyganskiy, recently joined from Bridgewater, is appointed as the new Chief Information Security Officer (CISO), replacing Bret Arsenault, who becomes the Chief Cybersecurity Officer. Aanchal Gupta, previously expected to succeed Arsenault, will now be a technical advisor in the Experiences and Devices division. The changes indicate a strategic revamp for the CISO role, aiming to invigorate the division with new leadership.

Portfolio Pulse from Benzinga Neuro

December 06, 2023 | 8:00 am