Stock News

Michelin to sell its Russia-based business activities to Power International Tires

Tire manufacturer Michelin said last week that it would sell its Russia Tyre Manufacturing Company and Camso CIS in Russia to Power International Tires. The financial details were not disclosed. Under the agreement, some 250 jobs mostly based at the company’s only Russian facility in Davydovo will be preserved. The facility itself employs 750 people […] Read more

JPMorgan to eliminate 500 jobs, report states

According to a report by Reuters, citing an unidentified knowledgeable source, JPMorgan Chase & Co intends to lay off about 500 employees this month across a number of its divisions. The layoffs are expected to affect people employed across JPMorgan’s main businesses – consumer, commercial banking, asset and wealth management, along with technology and operations. […] Read more

Elon Musk’s Neuralink announces FDA approval for in-human study

Neuralink, a brain implant startup owned by Elon Musk, declared that the FDA had approved their first in-human clinical trial. This milestone follows prior struggles for the company to acquire the approval. The company reported this in a tweet on May 25, 2023: We are excited to share that we have received the FDA’s approval […] Read more

Loblaw to buy 5 hydrogen fuel cell trucks from Kenworth

Loblaw Companies Limited on Thursday announced plans to buy 5 Class 8 T680 hydrogen fuel cell electric vehicles from Kenworth, which have a range of over 700 kilometers. The new vehicles are expected to provide Loblaw with greater flexibility to complete long-haul zero-emission deliveries. The T680 EVs are powered by Toyota fuel cell technology and […] Read more

Verizon flags potential customer service staff layoffs, report states

According to a report by the Verge on Wednesday, Verizon Communications Inc conducted a meeting with customer service employees to inform them of upcoming “restructuring” and “streamlining” measures, which could lead to significant layoffs. Over 6,000 employees reportedly attended the event, while the consolidation measures could impact far greater numbers. Further details will be disclosed […] Read more

Repsol to sell 49% stake in Spanish renewable facilities, report states

According to a report by Reuters, citing knowledgeable sources, energy giant Repsol intends to sell a 49% stake in wind farms and photovoltaic power plants across Spain. According to one source, the deal would be valued at between EUR 700 million and EUR 800 million. The renewable plants are operational or near operational and have […] Read more

GM to unveil an all-electric Cadillac Escalade later in 2023

General Motors Co said on Monday that it would unveil an all-electric variant of its flagship Cadillac Escalade later in 2023. The new SUV will be named Escalade IQ, GM said. The Cadillac Escalade IQ is expected to utilize the US auto maker’s Ultium battery cells, motors and technologies, which GM employs to power and […] Read more

Volvo to sell up to 1,000 electric trucks to Holcim

Volvo Trucks said on Monday that it had signed a letter of intent over the sale of 1,000 electric trucks between now and 2030 to Holcim, which is among the largest building solution providers globally. The first 130 heavy electric Volvo FH and Volvo FM trucks are expected to be delivered to certain markets such […] Read more

Volkswagen finalizes sale of Kaluga facility in Russia

Volkswagen AG said on Friday that it had finalized the sale of its Kaluga production facility in Russia along with its local subsidiaries. The deal encompasses the production facilities in Kaluga, the importer structure consisting of distribution and after-sales business along with the warehousing and financial services activities with all the staff. The German group […] Read more

Bank of America’s Merrill announces leadership changes across divisions

Merrill, the investment and wealth management arm of Bank of America Corp, on Friday announced changes in leadership across divisions. Greg McGauley, who joined Merrill almost three decades ago, has been appointed as the head of private wealth management internationally. At Merrill, McGauley has been in a number of senior roles, including head of private […] Read more