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Corporate Responsibility

AAPL

VGK

The European Commission is seeking feedback on commitments offered by Apple regarding its Apple Pay practices, which have raised antitrust concerns. The Commission's preliminary view is that Apple may have restricted competition by limiting access to NFC technology on its devices for payments in stores, benefiting Apple Pay over other mobile payment services. Apple has proposed commitments to address these concerns, including allowing rival mobile wallets to access the necessary hardware and software on equal terms for five years. The Commission is inviting comments from interested parties before making a final decision.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 1:29 pm

BCAL

Southern California Bancorp (NASDAQ:BCAL), the holding company for Bank of Southern California, announced the retirement of Chairman Emeritus and Director John Farkash, effective January 16, 2024. Farkash, a Founding Director since 2002, has been pivotal in the company's growth from a few million to $1.6 billion in assets. David Rainer, Chairman and CEO, acknowledged Farkash's significant contributions to the company's development and success. Farkash expressed pride in his role and confidence in the company's future.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 1:03 pm

F

Ford Motor Company has announced that its Rouge Electric Vehicle Center will transition to a single shift operation starting April 1, affecting around 1,400 employees. This move is part of the company's efforts to adjust to the demand for electric vehicles and optimize production.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 12:42 pm

KIRK

Kirkland has announced the promotion of Amy Sullivan to the position of Chief Executive Officer, effective February 4, 2024. Sullivan will be succeeding Ann Joyce, who will continue to serve on the company's Board of Directors.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 12:05 pm

MSFT

Microsoft Corp. (NASDAQ:MSFT) has announced a reduction in OneDrive and Outlook email storage for McGill University students to 20GB each, effective May 31, 2024. The decision is based on security concerns over large volumes of sensitive information and sustainability efforts to reduce the carbon footprint of maintaining unused files. The move follows a canceled plan to limit storage for photos in OneDrive for regular users after customer backlash.

Portfolio Pulse from Rounak Jain

January 19, 2024 | 11:58 am

ASIX

AdvanSix reported an operational disruption at its Frankford manufacturing site, leading to reduced production of phenol and acetone. The disruption is process-based, affecting the output at this particular facility.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 11:55 am

LQDA

Liquidia Technologies, Inc. announced that CFO Michael Kaseta will also serve as Chief Operating Officer. Concurrently, former COO Robert Lippe will transition out of the company over the next three months.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 11:39 am

WMS

Advanced Drainage Systems announced a collaboration with Rainwater Management Solutions (RMS) to advance sustainable stormwater solutions in the US and Canada. This partnership aims to enhance the development and implementation of eco-friendly water management practices.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 11:05 am

FEAM

FLR

5E Advanced Materials has chosen Fluor Corporation as the EPC contractor for process engineering work on the FEL-2 phase of its development. This selection is a step forward in the progress of 5E Advanced Materials' project.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 11:02 am

AAPL

AMZN

GOOG

GOOGL

META

Meta Platforms Inc. (META) has eliminated the technical program manager role at Instagram, affecting 60 employees, and is considering similar cuts across other departments. This aligns with CEO Mark Zuckerberg's 'Year of Efficiency' focus. Other tech giants like Amazon (AMZN), Google (GOOG/GOOGL), and Apple (AAPL) have also initiated layoffs, with Amazon cutting 5% of its 'Buy with Prime' staff, Google laying off over 1,000 employees, and Apple planning to dissolve a 121-member AI team in San Diego.

Portfolio Pulse from Rounak Jain

January 19, 2024 | 10:11 am