Stock News

VF Corp dismisses 500 employees amid business restructuring

VF Corp (VFC) announced on Thursday that it had dismissed about 500 employees as part of business restructuring effort and global operations improvement. The job reductions occurred across all of the company’s brands, corporate functions and geographies. In October, the Vans owner had come under pressure from investor firms Legion Partners Asset Management and Engaged […] Read more

Cheniere announces long-term gas supply deal with ARC Resources

Cheniere Energy Inc and Cheniere Energy Partners LP said on Wednesday that Sabine Pass Liquefaction Stage V LLC (“SPL Stage 5”) had entered into a long-term Integrated Production Marketing gas supply agreement with ARC Resources U.S. Corp – a subsidiary of ARC Resources Ltd. Under the agreement, ARC Resources will sell 140,000 MMBtu per day […] Read more

TotalEnergies buys minority stake in Xlinks First Limited

TotalEnergies said on Wednesday that it had acquired a minority stake in Xlinks First Limited, while investing as much as GBP 20 million. TotalEnergies joined investors Octopus Energy and Abu Dhabi National Energy Company. Xlinks intends to develop a huge renewable project in Morocco, which combines solar and wind, to supply green electricity to the […] Read more

Accenture announces acquisition of Ammagamma

Accenture said on Tuesday that it had agreed to buy Ammagamma, a Modena, Italy-based company that helps businesses advance their uses of AI. The financial details of the agreement, however, were not disclosed. Established in 2013, Ammagamma has a multidisciplinary team of 90 experienced AI professionals, many of whom specialize in generative AI. The firm’s […] Read more

L3Harris to sell commercial aviation solutions business to TJC

L3Harris Technologies Inc (LHX) said on Monday that it would sell its commercial aviation solutions business to private equity company TJC L.P. in a deal estimated at $800 million. The transaction is expected to be completed in the first half of 2024. The agreement includes a $700 million cash purchase price and a $100 million […] Read more

Leidos secures $32 million defense radar contract

Leidos, a science and technology company, said that it had secured a new $32 million contract by the Marine Corps System Command through the Consortium Management Group. The contract for defense radar systems development calls for 4 Medium Range Air Defense Radar prototype systems within a two-year span, the firm said. “This win represents a […] Read more

BNP Paribas Cardif acquires majority stake in BCC Vita

BNP Paribas Cardif has acquired a majority stake in the insurance arm of BCC ICCREA, the unit of French lender BNP Paribas SA said on Monday. Under the agreement, BNP Paribas Cardif will acquire 51% of BCC Vita, ICCREA’s insurance arm, with the option to buy an additional 19%. The deal is to allow BNP […] Read more

US retail sales on Black Friday surge 2.5% YoY

According to data by Mastercard Spendingpulse, released over the weekend, Black Friday retail sales in the United States went up 2.5% year-on-year. That figure excluded automotive sales and was not adjusted for inflation. Black Friday e-commerce sales surged 8.5% year-on-year and in-store sales rose 1.1% from a year ago. In September, Mastercard Spendingpulse had said […] Read more

NextSource appoints Interim Chief Operating Officer

NextSource Materials Inc said on Friday that it had appointed Johnny Velloza as Interim Chief Operating Officer, as Robin Borley has resigned from the post. Velloza has vast technical and operating experience in the mining industry that spans three decades. Previously, Velloza served as Deputy CEO and COO of Gem Diamonds and as Chief Executive […] Read more

2,500 jobs may be at risk as part of Lloyds shake-up

According to a report by Reuters, citing a source with knowledge of the situation, as many as 2,500 jobs are put at risk at Lloyds as part of a shake-up amid renewed cost-cutting efforts. Britain’s largest high street bank is set to initiate a consultation with personnel in a number of roles, including analysts and […] Read more