This bank holding company’s stock plummeted by 23% at the close of trading on Monday, 4 March 2024, only days after it appointed a new CEO and identified issues with its internal controls regarding its loan practices. Even though the bank indicated these obstacles would not affect its 2023 financial results, its stock continues to…
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Legally, companies owning more than a 5% stake in a publicly listed business must report this to the SEC and indicate whether they intend to control or influence the organisation. As of 31 December 2021, HG Vora has owned a 5.6% interest in Ryder, but it only reported this to the SEC in February 2022.…
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The company described the issue as relating to certain deficiencies that it has identified and that it regards as being a “material weakness” relating to its internal controls in terms of financial reporting matters. These reported deficiencies are around IT controls, and it confirmed that it’s working on it so that the annual report can…
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ABC News reported that Meta entered into agreements with Australian media agents after this country introduced the News Media Bargaining Code. This law requires big tech companies to pay for the news they display on their sites. Don’t miss out the latest news, subscribe to LeapRate’s newsletter Worth millions of dollars, these deals are due…
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Apple is believed to have had 2,000 employees working on the EV project at its height, but has never officially confirmed how far it has got with it. It has now been reported that Apple is still years away from producing a car, which has led to the firm pulling the plug to concentrate on…
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The ride-hailing organisation’s financial results, however, improved with Khosrowshahi at the helm. Before joining Uber, he headed Expedia Group, Inc. (EXPE) and reportedly received the most lucrative salary package in the S&P 500. Khosrowshahi joined Uber in 2017. Based on information from the Financial Times, Uber indicated in a recent filing that its CEO met…
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The organisation’s annual revenue of $59.38bn came in just under the Wall Street predictions of $60.52bn. Impacted by its beer sales, which declined by 3.6%, Q4 volumes dropped by 2.6%. US results suffered as the company continues to struggle under the yoke of the marketing ploy involving transgender activist Dylan Mulvaney. Monday, 4 March 2024…
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The S&P 500 gained its last 1,000 points steadily over a couple of years. It finally broke the 5,000 barrier earlier this month after a streak of winning weeks among signs of inflation easing and a few excellent earnings reports by major companies. This has led to speculation about how long it may be until…
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On Monday, 26 February 2024, Microsoft announced it had struck a multi-year deal with Mistral AI. The US tech titan invested $16m in the French company to introduce its specific AI protocols through the Azure cloud computing platform. In its press statement, Microsoft wrote: This partnership with Microsoft enables Mistral AI with access to Azure's…
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Ever Credit Limited, a division of Kingboard Holdings (0148.HK), lodged the filing against Country Gardens with the High Court of the Hong Kong Special Administrative Region. The hearing has been scheduled for 17 May 2024. Economists believe that the petition will renew doubts about the debt management capabilities and liquidity of China’s property sector. This…
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