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[1/2] Toy figures of people are seen in front of the displayed Paramount + logo, in this illustration taken January 20, 2022. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo Acquire Licensing RightsDec 1 (Reuters) - Apple (AAPL.O) and Paramount Global (PARA.O) have discussed bundling their streaming services at a discount, the Wall Street Journal reported on Friday. The companies have talked about offering a combined Paramount+ and Apple TV+ offering that would cost less than subscribing to both services separately, the report said, citing people familiar with the discussions. The talks are in their early stages, and it is unclear what shape the bundle could take, the report added. Apple and Paramount did not immediately respond to Reuters requests for comment.
Persons: Dado Ruvic, Chavi Mehta, Pooja Desai Organizations: REUTERS, Paramount Global, Wall Street, Paramount, Apple, Thomson Locations: Bengaluru
View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. REUTERS/Aris Martínez/File Photo Acquire Licensing RightsDec 1 (Reuters) - First Quantum Minerals (FM.TO) has suspended its current-year production outlook for the Cobre mine in Panama and has initiated international arbitration over a contested contract with the country's government, the miner said on Friday. The Canadian company said its local unit had started arbitration before the International Court of Arbitration to protect its rights under the 2023 concession. On Tuesday, President Laurentino Cortizo said the Cobre Panama mine would be shut down, hours after Panama's Supreme Court declared the contract unconstitutional. The miner exited the African nation in 2012 after filing an arbitration procedure for cancelling its mining contract.
Persons: Laurentino Cortizo, Tristan Pascall, Tanay, Devika Syamnath Organizations: Minerals, REUTERS, Aris, International Court, Democratic, Thomson Locations: Panama, Donoso, Miami , Florida, Democratic Republic Of Congo, Bengaluru
The logo of a Tesla electric vehicle is placed on a car outside a dealership in Drogenbos, Belgium November 25, 2023. REUTERS/Yves Herman/File Photo Acquire Licensing RightsDec 1 (Reuters) - Tesla shares (TSLA.O) fell about 2% on Friday after the highly anticipated launch of its Cybertruck left analysts concerned about the electric vehicle's steep price tag and a longer wait for significant financial payoff. Musk has said Tesla was likely to reach a production rate of roughly 250,000 Cybertrucks a year in 2025. At $235.45, Tesla was set to lose about $15 billion in market valuation on Friday. "Cybertruck is more of a 'halo' product, in our view, to attract consumers to the brand for the mainstream vehicles Model 3 and Model Y," RBC Capital Markets analyst Tom Narayan said.
Persons: Yves Herman, Elon Musk, Wedbush, Bernstein, Musk, Tesla, Tesla's, Rivian, R1T, Tom Narayan, Samrhitha Arunasalam, Chavi Mehta, Devika Organizations: REUTERS, General Motors, Hummer, RBC Capital, Thomson Locations: Drogenbos, Belgium, Bengaluru
Fintech firm SoFi set to exit cryptocurrency business
  + stars: | 2023-11-29 | by ( )   time to read: +1 min
Nov 29 (Reuters) - Financial technology firm SoFi Technologies (SOFI.O) is set to exit the cryptocurrency business and has given its customers the option to migrate to UK-based, the companies said on Wednesday. The San Francisco-based company said it was ending its crypto services on Dec. 19, and starting Wednesday, new SoFi crypto accounts cannot be opened. SoFi said its eligible customers can migrate their account to or close their account instead. Crypto users living in New York will not be eligible for the migration due to New York state availability. London-based said crypto account holders at SoFi will get access to dozens of tokens traded on its platform.
Persons: Sam Bankman, Changpeng Zhao, SoFi,, Arasu Kannagi Basil, Devika Organizations: SoFi Technologies, U.S . Securities, Exchange Commission, Bloomberg News, Thomson Locations: San Francisco, New York, London, Bengaluru
China's Powerlong Real Estate warns of debt default risk
  + stars: | 2023-11-29 | by ( )   time to read: +1 min
Nov 29 (Reuters) - Powerlong Real Estate (1238.HK) said on Wednesday its cash on hand and bank deposits would not be enough to cover existing and future debt, making it the latest Chinese property developer that could default. In an exchange filing, Powerlong also said it has not made an interest payment of $15.9 million under 5.95% senior notes due April 2025 issued by the company. China's property sector has been squeezed by a regulatory crackdown since 2020 as authorities curbed excessive debt, which tightened liquidity and raised default risks for developers. Powerlong Real Estate's interest became due and payable on Oct. 30 and the company had a grace period of 30 days to make the payment. Separately, Powerlong said it was working towards ensuring timely delivery of its property development projects to secure cash resources for sustainable development.
Persons: Powerlong, Echha Jain, Devika Organizations: HK, Singapore Exchange, Thomson Locations: Bengaluru
A logo is pictured outside of Dupont offices in Geneva, Switzerland, April 15, 2021. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsCompaniesLaw Firms 3M Co FollowChemours Co FollowCorteva Inc Follow Show more companiesNov 29 (Reuters) - Chemours (CC.N), Dupont De Nemours (DD.N) and Corteva (CTVA.N) have reached a settlement agreement with the U.S. state of Ohio for $110 million to resolve claims associated with toxic "forever chemicals", the companies said on Wednesday. Chemours said it would be responsible for half of the settlement costs, while DuPont would provide about $39 million. 3M (MMM.N) agreed in June to pay $10.3 billion to settle hundreds of claims that the company polluted public drinking water with the chemicals, while Chemours, DuPont and Corteva reached a similar deal with U.S. water providers for $1.19 billion. Reporting by Tanay Dhumal and Sourasis Bose in Bengaluru; Editing by Shilpi Majumdar and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.
Persons: Denis Balibouse, Dupont De Nemours, Chemours, Corteva, Tanay Dhumal, Sourasis Bose, Shilpi Majumdar, Devika Organizations: REUTERS, U.S, DuPont, Washington Works, Ohio -, Thomson Locations: Dupont, Geneva, Switzerland, U.S ., Ohio, Ohio - West Virginia, U.S, Bengaluru
REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 29 (Reuters) - KKR & Co (KKR.N) said on Wednesday it would buy a remaining 37% stake in Global Atlantic Financial Group that it does not already own for $2.7 billion in an all-cash deal. Private equity firm KKR has served as the manager of Global Atlantic's investment portfolio since 2021 and said in July 2020 that it would buy the annuities and life insurance provider. Global Atlantic's assets under management have grown to $158 billion from $72 billion in 2020, the companies said. Under the terms of the deal, KKR will pay Global Atlantic's minority shareholders an amount in cash equal to Global Atlantic's book value, with certain adjustments. Global Atlantic serves policyholders through its retirement and life insurance products.
Persons: Brendan McDermid, Joe Bae, Scott Nuttall, Goldman Sachs, Noor Zainab Hussain, Devika Organizations: KKR, New York Stock Exchange, REUTERS, Co, Global Atlantic Financial Group, Global, Global Atlantic, Thomson Locations: New York, U.S, Bengaluru, Chibuike
Shoppers crowd a Walmart store ahead of the Thanksgiving holiday in Chicago, Illinois, U.S. November 27, 2019. Online consumer spending jumped 7.8% during Cyber Week, or the five days from Thanksgiving through Cyber Monday, according to data from Adobe Analytics, outstripping initial expectations for a 5.4% rise. But blockbuster deals rolled out from Thanksgiving Day through Cyber Monday helped spread the holiday cheer for bargain-hunters. Sales on Cyber Monday jumped a better-than-expected 9.6% to a record $12.4 billion, as shoppers clicked "buy" on Hot Wheels toys, PlayStation 5, smart watches and kitchen appliances. Reuters GraphicsAdobe said discounts peaked at 31% for electronics and at 27% for toys on Cyber Monday, which is typically the biggest online shopping day in the U.S.
Persons: Kamil Krzaczynski, Vivek Pandya, trouncing, Klarna, Deborah Sophia, Juby Babu, Pooja Desai Organizations: Walmart, REUTERS, Adobe Analytics, Deloitte, Adobe Digital, Graphics Adobe, Thomson Locations: Chicago , Illinois, U.S, Bengaluru
More than 200 million shoppers tapped into promotions both in-store and online during the Thanksgiving weekend, the National Retail Federation (NRF) said on Tuesday. That was a jump from the 196 million shoppers seen last year and trumped the trade association's estimates of 182 million. Online shoppers rose 3.1% to 134.2 million, making up for a slight dip in the number of customers who visited brick-and-mortar stores. The weekend saw about 121.4 million in-store shoppers, down from 122.7 million in 2022, according to the retail body. Adobe said discounts peaked at 31% for electronics and at 27% for toys on Cyber Monday, which is typically the biggest online shopping day in the U.S.
Persons: Kamil Krzaczynski, Matthew Shay, Vivek Pandya, trouncing, Klarna, Deborah Sophia, Juby Babu, Pooja Desai Organizations: Walmart, REUTERS, Adobe Analytics, Deloitte, National Retail Federation, Shoppers, Adobe Digital, Adobe, Thomson Locations: Chicago , Illinois, U.S, Bengaluru
The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly Song/File Photo Acquire Licensing RightsNov 28 (Reuters) - Evergrande Property Services Group (6666.HK) said on Tuesday one of its units had commenced legal proceedings against Hengda Real Estate Group Company and embattled developer China Evergrande (3333.HK), among others. The proceedings are related to the enforcement of Evergrande Property Services' deposit pledge of about 13.4 billion yuan. Jinbi Property has also commenced legal proceedings against Shenzhen Qihang Metals Materials Company, Guizhou Guangjuyuan Real Estate Development and Hengda Real Estate Group Guiyang Property. In February, parent Evergrande had said it was in talks with Evergrande Property Services to repay the funds.
Persons: Aly, Evergrande, Echha Jain, Devika Organizations: China Evergrande Group, REUTERS, Evergrande, Services, HK, Hengda Real Estate Group Company, China, Jinbi Property Management Company, Shenzhen Qihang Metals Materials Company, Development, Real, Guiyang, Evergrande Property, Property Services, Guangzhou, People's, Thomson Locations: China, Shenzhen, Guangdong province, Guizhou Guangjuyuan, Guangdong Province, Bengaluru
UK's musicMagpie will keep seeking buyers as BT ends talks
  + stars: | 2023-11-27 | by ( )   time to read: +1 min
Nov 27 (Reuters) - MusicMagpie (MMAG.L) said on Monday it will continue to seek buyers after telecoms group BT (BT.L) confirmed it will not make an offer for the British online retailer of used smartphones and electronic products. Shares in musicMagpie fell 19% to a nearly three-month low of 16.35 pence, giving it a market value of just over 17.5 million pounds ($21.81 million). The seller of second-hand DVDs and computer games last week said it was in early-stage talks with BT and Aurelius Group regarding a possible buyout offer. Neither BT or Aurelius provided a reason for dropping out of the takeover talks. As of Friday's close, musicMagpie stock had lost almost 90% of its value since its market debut in April 2021 as a cost-of-living squeeze hurt sales.
Persons: Aurelius Investment, Aurelius, Prerna Bedi, Devika Organizations: BT, Aurelius Group, Thomson Locations: musicMagpie, Bengaluru
X may lose up to $75 mln by year-end on advertiser exodus - NYT
  + stars: | 2023-11-24 | by ( )   time to read: +2 min
'X' logo is seen on the top of the headquarters of the messaging platform X, formerly known as Twitter, in downtown San Francisco, California, U.S., July 30, 2023. REUTERS/Carlos Barria/File Photo Acquire Licensing RightsNov 24 (Reuters) - Elon Musk-owned social media company X could lose as much as $75 million in advertising revenue by the end of the year as dozens of major brands pause their marketing campaigns, the New York Times reported on Friday. X said on Friday $11 million in revenue was at risk and the exact figure fluctuated as some advertisers returned to the platform and others increased spending, according to the report. The platform's U.S. ad revenue has declined at least 55% year-over-year each month since Musk's takeover, Reuters previously reported. Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.
Persons: Carlos Barria, Elon Musk, Walt Disney, Adolf Hitler, X, Musk, Samrhitha, Devika Organizations: REUTERS, New York Times, Walt, Warner Bros Discovery, Media, Apple, Oracle, Nazi, The New York Times, Microsoft, U.S, Reuters, Thomson Locations: San Francisco , California, U.S, Bengaluru
Lloyds Bank logo and rising stock graph are seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Nov 24 (Reuters) - Britain's biggest high street bank Lloyds (LLOY.L) is putting around 2,500 jobs at risk as part of a shake-up, a source familiar with the matter told Reuters, amid a renewed push by lenders to slash costs. Staff are expected to be informed of the process as early as next week, the source said, adding it would also involve the creation of 120 roles. The news comes after Reuters reported on Thursday that Lloyds' rival Barclays (BARC.L) is working on plans to save up to 1 billion pounds ($1.25 billion), which could involve cutting as many as 2,000 jobs. But investor concerns about tougher competition for savers' cash and potential loan defaults amid a cost-of-living crisis are weighing on the sector.
Persons: Dado Ruvic, Iain Withers, Lawrence White, Gursimran Kaur, Devika Syamnath, Hugh Lawson Organizations: Lloyds Bank, REUTERS, Lloyds, Staff, Guardian, Reuters, Barclays, savers, Thomson Locations: London, Bengaluru
General view of Bahrain World Trade Center is seen during early evening hours in Manama, Bahrain, May 2, 2020. REUTERS/Hamad I Mohammed/File Photo Acquire Licensing RightsNov 24 (Reuters) - S&P Global Ratings on Friday revised Bahrain's outlook to "stable" from "positive", citing spending pressures that could push the country's fiscal deficit wider than the credit ratings agency previously expected. "We expect the government will reinvigorate reforms to consolidate its fiscal position, largely via increasing non-oil revenue through 2026," it said in a statement. The agency now projects fiscal deficits of 3% to 4% of Bahrain's GDP over 2023-26, compared with 2% to 3% in its previous review. S&P peer Fitch affirmed Bahrain at 'B+' with stable outlook in July, while Moody's changed Bahrain's outlook to stable from negative and affirmed B2 ratings in April last year.
Persons: Hamad I Mohammed, Fitch, Moody's, Vedant Vinayak Vichare, Devika Syamnath, Arun Koyyur Organizations: Bahrain World Trade, REUTERS, Navy's, Thomson Locations: Bahrain, Manama, Bengaluru
One millennial said the manager role she would move into next seems to be a high pressure job. Devika said younger millennials like her may not see moving to a manager role as worth it because "it's just giving up too much of your personal life and then life is short." That includes feeling extra pressure from senior management, Derler said. She added that new managers don't often get that learning opportunity and then form bad habits that are hard to eradicate later. The Visier survey found 71% of respondents, including those who don't necessarily want to be people managers, said better compensation would be a top incentive for becoming this kind of manager.
Persons: , Devika, she's, millennials, Andrea Derler, Derler, Justin Vallely, Vallely, it's, onboarding, aren't Organizations: Service Locations: That's
Silvergate Capital fully repays deposit liabilities
  + stars: | 2023-11-22 | by ( )   time to read: +1 min
Nov 22 (Reuters) - Crypto-focused bank Silvergate Capital said on Wednesday it had fully repaid all remaining deposit liabilities, following the bank's decision earlier this year to wind down operations. Silvergate, which now holds less than $10,000 according to the statement, said in March it intended to voluntarily liquidate after being hit with losses following the dramatic collapse of crypto exchange FTX. "Silvergate continues to focus on implementing the Bank Liquidation," it said in a statement on Wednesday. California-based Silvergate, once among the crypto industry's favored banks, had reported a $1 billion quarterly loss before the winding down decision, as investors spooked by the FTX debacle pulled out more than $8 billion in deposits. Reporting by Pritam Biswas in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.
Persons: Silvergate, Pritam Biswas, Devika Organizations: Silvergate, Bank, Thomson Locations: . California, Bengaluru
Recalled WanaBana puree still on Dollar Tree shelves - US FDA
  + stars: | 2023-11-22 | by ( )   time to read: +1 min
Nov 22 (Reuters) - The WanaBana Apple Cinnamon Puree, a product potentially contaminated with lead, was still being sold at Dollar Tree (DLTR.O) stores despite a recall that began last month, the U.S. Food and Drug Administration (FDA) said on Wednesday. In response to the FDA's Wednesday announcement, Dollar Tree said it had already instructed stores to remove the product from shelves and that they no longer sell that flavor on its website. The product was available nationally through multiple retailers including Amazon, Dollar Tree and other online outlets, the FDA said. Wanabana LLC, the maker of the product, and (AMZN.O) did not immediately respond to Reuters requests for comment. The FDA on Oct. 31 shared the results with Wanabana, which then initiated a voluntary recall.
Persons: Ananya Mariam Rajesh, Devika Organizations: U.S . Food, Drug Administration, FDA, North Carolina Department of Health, Human Services, North Carolina Department of Agriculture & Consumer Services, Thomson Locations: U.S, Bengaluru
The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsNov 22 (Reuters) - China has placed debt-laden Country Garden Holdings Co (2007.HK) on a draft list of 50 developers eligible for a range of financing support, Bloomberg reported on Wednesday, citing people familiar with the matter. Country Garden declined to comment. Once China's biggest private property developer, Country Garden missed a coupon payment in October, triggering default terms. It is unclear what specific measures will be taken to support the developers on the draft list.
Persons: Aly, CIFI, Bloomberg, Ting Meng, Nomura, Devika Nair, Xie Yu, Kim Coghill, Clarence Fernandez Organizations: Shanghai Country Garden, REUTERS, Garden Holdings, HK, Bloomberg, Ocean Group, CIFI Holdings, Reuters, Wednesday, Regulators, Country, ANZ Bank China, Thomson Locations: Shanghai, China, Beijing, Bengaluru, Hong Kong
A WeWork logo is seen outside its offices in the Queens borough of New York City, U.S., November 7, 2023. WeWork, once the most valuable U.S. startup, struggled to achieve profitability as a rise in work-from-home trends following the pandemic soured demand for its shared office spaces. The financing could be as much as $682.5 million but it could also be smaller than that depending on other conditions, WeWork said, adding that the parties have agreed to provide the financing individually and not jointly. The company also said the financing agreement was dependent on fulfilling certain conditions, including the approval of the Bankruptcy Court. WeWork entered bankruptcy with about $164 million of cash on hand, according to court filings.
Persons: Shannon Stapleton, WeWork, Bhanvi, Devika Organizations: REUTERS, Goldman Sachs International Bank, JPMorgan Chase Bank, SoftBank, Thomson Locations: Queens, New York City, U.S, Bengaluru
Sam Altman, CEO of OpenAI, attend the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 16, 2023. Talks are happening between Altman and at least one board member, Quora CEO Adam D'Angelo, the report said. Altman could return as a director on a transitional board and the talks also involve some investors of the artificial intelligence startup. But things appeared fluid, as Microsoft CEO Satya Nadella told media on Monday "irrespective of where Sam is, he's working with Microsoft" and that governance at OpenAI needed to change. Other than Quora's D'Angelo, OpenAI's four-person board consisted of Tasha McCauley, Helen Toner and OpenAI chief scientist Ilya Sutskever as of Friday.
Persons: Sam Altman, Carlos Barria, Altman, Adam D'Angelo, Greg Brockman, Satya Nadella, Sam, Brockman, Nadella, Emmett Shear, Quora's D'Angelo, OpenAI's, Tasha McCauley, Helen Toner, Ilya Sutskever, Akash Sriram, Chavi Mehta, Devika Syamnath, Arun Koyyur Organizations: OpenAI, Economic Cooperation, REUTERS, Microsoft, Bloomberg, CNBC, Reuters, Thomson Locations: Asia, San Francisco , California, U.S, OpenAI, Bengaluru
Morgan Stanley's Andy Saperstein diagnosed with cancer - memo
  + stars: | 2023-11-21 | by ( )   time to read: +1 min
Andy Saperstein, Co-Head of Wealth Management at Morgan Stanley, speaks during the Reuters Global Wealth Management Summit in New York City, New York, U.S., June 13, 2016. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 21 (Reuters) - Morgan Stanley co-President Andy Saperstein has been diagnosed with cancer, he wrote in an internal memo seen by Reuters on Tuesday. In the email to staff, Saperstein said the news have been a shock. Saperstein, co-president that heads wealth and investment management, was considered to succeed CEO James Gorman earlier this year. Reporting by Niket Nishant in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.
Persons: Andy Saperstein, Morgan Stanley, Brendan McDermid, Saperstein, James Gorman, Niket, Devika Organizations: Wealth Management, Reuters Global Wealth Management, REUTERS, Reuters, Thomson Locations: New York City , New York, U.S, Bengaluru
The Nordstrom store is pictured in Broomfield, Colorado, February 23, 2017.REUTERS/Rick Wilking Acquire Licensing RightsNov 21 (Reuters) - Nordstrom (JWN.N) missed Wall Street targets for third-quarter revenue on Tuesday as sticky inflation pressured consumer spending in the months leading up to the all-important holiday shopping season. "The consumer is phasing out their shopping ... they are shopping cheque to cheque," Jane Hali & Associates senior analyst Jessica Ramirez said. Nordstrom executives said in a post-earnings call that the active, beauty and accessories segments were leading sales growth. "They did not do as much discounting as expected, but that may have hurt the top-line sales ... especially at Nordstrom," said Morningstar analyst David Swartz. Best Buy and Kohl's had trimmed their annual sales expectations to account for difficult-to-predict consumer demand in an uncertain economy, but Nordstrom maintained its forecast.
Persons: Rick Wilking, Jane Hali, Jessica Ramirez, David Swartz, Nordstrom, Ananya Mariam Rajesh, Devika Organizations: Nordstrom, REUTERS, Associates, Thomson Locations: Broomfield , Colorado, Nordstrom, Bengaluru
[1/2] Amazon CEO Jeff Bezos speaks during the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain, November 2, 2021. Paul Ellis/Pool via REUTERS/File Photo Acquire Licensing RightsNov 21 (Reuters) - (AMZN.O) founder Jeff Bezos is expected to offload more of his stake in the company on Tuesday after selling shares worth about $240 million last week, CNBC reported, citing a source. Bezos may sell as many as 8 million to 10 million shares, amounting to more than $1 billion, the report said. A representative for Bezos did not immediately respond to a Reuters request for comment and neither did Amazon, whose shares were trading 2.5% lower on Tuesday. After stepping down as Amazon's CEO, Bezos has been liquidating his shares in the e-commerce behemoth to fund his space venture Blue Origin.
Persons: Jeff Bezos, Paul Ellis, Bezos, Blue, Zaheer Kachwala, Devika Organizations: Amazon, Change, CNBC, Thomson Locations: Glasgow, Scotland, Britain, Miami, Seattle, Canaveral, Bengaluru
Zoom now expects annual adjusted profit per share between $4.93 and $4.95, higher than its prior forecast of $4.63 and $4.67. The company lifted its full-year revenue forecast to between $4.506 billion and $4.511 billion, from $4.485 billion to $4.495 billion earlier. The company's quarterly free cash flow grew 66.2% to $453.2 million, and Zoom expects $1.34 billion to $1.35 billion for the full year. The Phone segment grew to roughly 7 million paid seats while Contact Center reached about 700 customers as of quarter-end. For the third quarter, revenue grew 3.2% to $1.14 billion, slightly above estimates.
Persons: Dado Ruvic, Webex, Eric Yuan, Rishi Jaluria, Samrhitha, Devika Organizations: REUTERS, Communications, RBC, Contact, Thomson Locations: Bengaluru
Nikola CFO Anastasiya Pasterick to resign
  + stars: | 2023-11-20 | by ( )   time to read: +1 min
The logo of Nikola is seen on a truck, during the press day preview of the Los Angeles Auto Show in Los Angeles, California, U.S. November 16, 2023. Pasterick was appointed to the role in March this year after the exit of Kim Brady, who was credited with taking Nikola public through a merger with a blank-check firm in 2020. The company expects to wrap up its search for a new CFO soon and Pasterick will assist with a transition through Dec. 1, it said. Key financial leaders will report to CEO Stephen Girsky in the interim. The news comes just months after Nikola named its fourth CEO in four years, with Girsky immediately taking over from Michael Lohscheller.
Persons: Nikola, David Swanson, NKLA.O, Anastasiya Pasterick, Pasterick, Kim Brady, Stephen Girsky, Girsky, Michael Lohscheller, Seher, Devika Organizations: Los Angeles Auto, REUTERS, Ford, Thomson Locations: Los Angeles , California, U.S, Bengaluru
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