Streetbeat News

Corporate Responsibility

DWAC

Digital World Acquisition Corp (DWAC) has appointed Eric Swider as the permanent CEO, effective July 6, 2023. The company recently settled an $18 million SEC investigation into its planned merger with Trump Media & Technology Group. Elon Musk welcomed Donald Trump back to Twitter after acquiring it for $44 billion. In April, DWAC appointed Katherine Chiles as CFO, Alexander Cano as President and secretary, and Frank Andrews as the non-executive chairman. DWAC shares are trading 1.26% lower at $13.28 premarket.

Portfolio Pulse from Anusuya Lahiri

July 11, 2023 | 12:40 pm

LICY

Li-Cycle Holdings Corp (NYSE:LICY) has signed a memorandum of understanding (MOU) with EVE Energy Co Ltd to explore lithium-ion battery recycling solutions for EVE battery materials. The MOU includes recycling collaborations on battery manufacturing scrap generated at EVE's planned lithium-ion battery cell manufacturing facilities in Malaysia and Hungary. The partnership will support EVE’s sustainability goals with a closed-loop supply solution.

Portfolio Pulse from Shivani Kumaresan

July 11, 2023 | 12:33 pm

HBI

HanesBrands has appointed Scott Lewis as its new Chief Financial Officer (CFO) with immediate effect.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 12:32 pm

TER

Teradyne (NASDAQ:TER) has appointed Ujjwal Kumar as Group President of Teradyne Robotics. Kumar, who has a 25-year career spanning multiple industries and corporations, will succeed Greg Smith, who was promoted to Teradyne's CEO in February. Kumar plans to leverage Teradyne's market leadership positions and expand served markets organically and through strategic acquisitions.

Portfolio Pulse from Happy Mohamed

July 11, 2023 | 12:29 pm

F

GM

STLA

The United Auto Workers union has released a report highlighting unsafe working conditions and low wages at the Ultium Cells Lordstown facility in Ohio, a joint venture between General Motors and LG Energy Solution. The report reveals that workers were initially paid a starting wage of $16.5 per hour, despite the plant qualifying for over $1 billion in annual tax credits. The report also highlights health and safety issues, including exposure to toxic fumes. The UAW intends to initiate contract negotiations with Stellantis NV, Ford Motor Co, and GM.

Portfolio Pulse from Anan Ashraf

July 11, 2023 | 11:17 am

CHH

Choice Hotels has announced that the integration of Radisson Hotels Americas has delivered meaningful synergies ahead of schedule, with more opportunities to come.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 10:35 am

PVH

PVH Corp. has announced additional headcount reductions under its previously announced streamlining plans. The company expects to incur approximately $50 million of severance expense, primarily in the second quarter of 2023. Further actions are expected in the third quarter of 2023, with all actions expected to be completed by the end of the third quarter.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 10:14 am

CRGO

Freightos has announced an operational efficiency plan that is expected to reduce expenses and improve adjusted EBITDA by approximately $5.6 million per year.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 10:06 am

CRGO

Freightos has announced an operational efficiency plan in response to ongoing global economic challenges. The plan includes a 13% reduction in headcount and is expected to enable the company to continue growing and reach break-even on existing funds.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 10:04 am

GBTG

American Express Global Business Travel (GBTG) has announced a simplification of its corporate structure, including the elimination of its Up-C structure. This move is expected to improve market data integrity and increase its weighting on indices.

Portfolio Pulse from Benzinga Newsdesk

July 10, 2023 | 8:54 pm