Streetbeat News

Corporate Responsibility

GM

General Motors Co has proposed a comprehensive offer to the United Auto Workers (UAW) union. Under the offer, the majority of GM's workforce will earn $40.39 per hour, or approximately $84,000 a year by the end of the agreement's term.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 4:06 pm

KR

Baker Farms has voluntarily recalled a single production run of Kroger 16-ounce bagged Collard Greens due to possible Listeria monocytogenes contamination. The product was distributed to various Kroger retail locations in several states. No illnesses have been reported so far. Customers who have purchased the affected product are urged to dispose of it or return it to their local store for a full refund.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 3:58 pm

LYB

LyondellBasell has acquired a 50% stake in Rodepa Vastgoed B.V., the holding company of De Paauw Sustainable Resources (DPSR), a Dutch plastic waste recycling company. The acquisition aligns with LyondellBasell's strategy to increase access to plastic waste feedstock and expand its production of CirculenRecover products. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 3:16 pm

VEON

VEON Ltd. has issued an open letter to its investors, outlining key developments in its re-engagement with capital markets. The company has a renewed focus on its Digital Operator 1440 strategy in six fast-growing markets following its exit from Russia. VEON's Group debt is USD 3.5bn, and its Group cash is USD 1.7bn. Independent analyst coverage of VEON shares has resumed, and the company has seen stronger volumes in the trading of its shares. VEON has also committed USD 600 million to the recovery and reconstruction of Ukraine over the next three years.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 2:12 pm

SNDL

SNDL Inc. (NASDAQ:SNDL) plans to consolidate all cultivation activities at its Atholville, New Brunswick facility, centralizing manufacturing, processing, and production operations to Kelowna, British Columbia. The company expects this optimization to result in over $10 million in annual savings through reduced overhead, power costs, and labor efficiencies. This is in addition to the previously announced $18.2 million of annualized cost savings since the acquisition of The Valens Company Inc. in January 2023.

Portfolio Pulse from Jelena Martinovic

October 20, 2023 | 1:42 pm

CVX

PXD

XOM

Exxon Mobil Corporation is reportedly planning to join a U.N.-led initiative that mandates more detailed disclosure of its global methane output. This move signifies a change in direction for Exxon, which has previously hesitated to undergo external assessments of its greenhouse gas emissions reduction initiatives. The decision is reportedly influenced by the Pioneer Natural Resources Company deal. Exxon and Chevron Corporation are part of the Oil and Gas Climate Initiative, a consortium of oil companies with self-imposed emissions targets.

Portfolio Pulse from Nabaparna Bhattacharya

October 20, 2023 | 1:27 pm

META

Instagram, owned by Meta Platforms Inc. (NASDAQ:META), has apologized for a translation error that labeled some Palestinian user profiles as 'terrorist'. The error affected users who had mentioned 'Palestinian' in English on their profile, along with the Palestinian flag emoji, and the Arabic word 'alhamdulillah'. The issue was first reported by TikTok user YtKingKhan. Meta has previously been accused of censoring posts supporting Palestine during the Israel-Hamas war.

Portfolio Pulse from Rounak Jain

October 20, 2023 | 11:45 am

RMBL

RumbleOn has announced the appointment of Michael Kennedy as its new Chief Executive Officer, effective from November 1, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 11:34 am

AMZN

English author and prankster Oobah Butler used Amazon's platform to create a top-selling energy drink named 'Release Energy' using discarded urine bottles allegedly from Amazon delivery drivers. The prank was intended to highlight the intense pressure that Amazon delivery drivers are under, leading to inhumane working conditions. Amazon eventually removed the product listing, stating that safety is a top priority and all products must comply with applicable laws and regulations.

Portfolio Pulse from Rounak Jain

October 20, 2023 | 10:03 am

AMZN

Amazon has updated its return-to-office policy, allowing managers to terminate employees who don’t adhere to the company’s thrice-a-week office attendance requirement. The new guidelines instruct managers to first privately discuss non-compliance with the affected employees. If non-compliance persists, managers are to document the conversation via email and, if necessary, proceed with disciplinary actions, including termination.

Portfolio Pulse from Benzinga Neuro

October 20, 2023 | 4:18 am