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Several companies are in the news for various reasons. Alphabet and Discord are facing ethical concerns over Google's AI chatbot, Bard. MGM Resorts snubbed hackers' ransom demands after a cyberattack. Costco is accused of sharing confidential health data with Meta Platforms. Humana has appointed a new CEO. Novo Nordisk has stopped a kidney trial due to early signs of efficacy. Walgreens has appointed a new CEO. GSK has settled a lawsuit. LVMH reported a 9% organic revenue growth in Q3. Qantas Airways is overhauling its board. Tempest Therapeutics' stock soared after positive results from a clinical trial. Tech giants Baidu, Huawei, and Alibaba are setting standards for autonomous driving in China. Blackstone is in talks to acquire a stake in Disney's Indian subsidiary. Mallinckrodt's bankruptcy plan was approved. Birkenstock has priced its IPO.

Portfolio Pulse from Vandana Singh

October 11, 2023 | 1:36 pm

ALLY

Ally Financial's CEO, Jeffrey J. Brown, has announced his plans to step down. The company has engaged a search firm to find his successor.

Portfolio Pulse from Bill Haddad

October 11, 2023 | 12:42 pm

GM

General Motors Co (NYSE:GM) has reached a tentative agreement with Canadian workers’ union Unifor, leading to a resumption of work at all GM facilities. The agreement includes a base hourly wage increase of nearly 20% for production workers. The strike actions are now on hold to allow the members to vote on the tentative agreement. Unifor had initiated strike action against General Motors after the company failed to meet the union's demands for pension and income support for retired workers, among others.

Portfolio Pulse from Anan Ashraf

October 11, 2023 | 3:29 am

SANA

Sana Biotechnology announced a portfolio update and a strategic repositioning that will result in a 29% reduction in headcount. This news has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 8:25 pm

SANA

Sana Biotechnology has announced a portfolio update, which includes a strategic re-positioning that will result in a 29% reduction in headcount. The company has not provided further details on the impact of this decision on its operations.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 8:21 pm

UBS

UBS Group AG is planning to halt most of its municipal bond underwriting business, which is expected to result in staff cuts. The bank, currently the 20th biggest underwriter, will shift away from negotiated muni bond sales and reorganize its public finance group.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 7:14 pm

GM

General Motors Co and GM Canada have reached a tentative agreement with Unifor, the union representing its workers. As a result, work will resume at all three facilities this afternoon.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 5:39 pm

GM

Unifor, the union representing workers at GM's Oshawa Assembly, has announced that the company has agreed to eliminate the use of full-time temporary classification by August 1, 2026. All full-time temporary workers with at least one year of seniority will be converted to permanent status.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 5:28 pm

GM

Unifor, the Canadian labor union, has announced a pattern agreement that includes the reactivation of the Cost of Living Allowance in December 2024. The agreement also includes a new quarterly payment for Canadian retirees, called the Universal Health Care Allowance.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 5:27 pm

GM

Unifor, the union representing General Motors (GM) workers, has reached a tentative agreement with GM that includes nearly 20% wage increases for production workers and 25% for skilled trades over the lifetime of the agreement. As a result, work will resume at all GM facilities.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 5:26 pm