Streetbeat News

Corporate Responsibility

MSFT

Microsoft Corporation (NASDAQ:MSFT) has a controversial approach to determining employee compensation that some insiders liken to the notorious ‘stack ranking’ system. The company's review process requires managers to distribute employees across a scale, adjusting individual rankings based on the team’s overall performance. This approach has been rolled out alongside a new rating system this year, triggering comparisons to the ‘stack ranking’ system, which was officially abandoned in 2013 due to internal dissatisfaction.

Portfolio Pulse from Benzinga Neuro

September 14, 2023 | 9:19 am

MKL

Markel Group Inc. (NYSE:MKL) has announced plans to expand its insurance operation, Markel, in Australia by opening three new offices in Sydney, Melbourne, and Brisbane in September 2023. The company has also hired Rory Morison as the managing director of Markel's Australia operation.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 7:32 am

VLVCY

VLVLY

Volvo Group has announced a partnership with H2 Green Steel to develop near zero emission steel. This collaboration aims to significantly reduce the carbon footprint of Volvo's products.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 6:54 am

AZN

AstraZeneca has partnered with Future Biogas to create the UK's first unsubsidized biomethane supply. The pharmaceutical company has committed £100M to sustainability efforts.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 6:41 am

CHD

Church & Dwight has issued a recall for its TheraBreath Strawberry Splash for Kids 16oz product sold on Amazon between May 31 and September 02, 2023, due to yeast contamination.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 5:42 am

NKLA

Nikola Corp's CEO, Steve Girsky, has termed the recent fires in its battery electric trucks as a 'setback', but assured that it won't affect the deliveries of its hydrogen-powered trucks. The company issued a recall for all the vehicles in the market between dealers and customers in August, following several incidents of fire since June. The cause of the fires was identified as a coolant leak within the battery packs. Nikola has halted deliveries of its battery electric vehicles until the recall is complete, but is preparing to deliver its hydrogen fuel cell trucks, which use different battery packs from a different supplier.

Portfolio Pulse from Anan Ashraf

September 14, 2023 | 5:20 am

BTCUSD

ETHUSD

PYPL

Crypto infrastructure provider Paxos has admitted to overpaying a Bitcoin network fee by $510,000 due to a bug affecting a single transfer. The error was initially speculated to involve PayPal Holdings Inc, but Paxos clarified that PayPal was not responsible. Paxos is in discussions with the miner who received the excess fee to recover the funds. PayPal uses Paxos to manage its crypto custody services.

Portfolio Pulse from Mehab Qureshi

September 14, 2023 | 4:02 am

TSLA

A group of radical environmentalists set fire to 15 Tesla vehicles at a dealership in Frankfurt, Germany, causing over $536,885 in damages. The group criticized Tesla Inc. for its lithium and cobalt mining practices and its impact on indigenous communities, as well as CEO Elon Musk's plans to colonize Mars.

Portfolio Pulse from Benzinga Neuro

September 14, 2023 | 3:08 am

GM

General Motors (GM) is reportedly continuing to negotiate directly and in good faith with the United Auto Workers (UAW). The company has presented additional strong offers and is making progress in key areas that are important to its represented team members.

Portfolio Pulse from Charles Gross

September 13, 2023 | 11:43 pm

CMPS

The Norrsken Foundation is launching a $3.22 million initiative, Norrsken Mind, to support Swedish startups developing psychedelic-assisted mental health treatment options. The initiative has already raised over €3 million and expects more capital soon. This follows other European funding efforts in the field, such as the $285 million private placement raised by London-based COMPASS Pathways (NASDAQ:CMPS).

Portfolio Pulse from Lara Goldstein

September 13, 2023 | 8:46 pm