SMCI’s arrival was announced in a press statement, which confirmed that the company and Deckers Outdoor Corp (DECK) will be replacing Zions Bancorporation (ZION) and Whirlpool Corp (WHR) in the S&P 500 with immediate effect. SMCI sells AI-optimised computer services to businesses across the planet. It works closely with Nvidia (NVDA) to provide customisable data…
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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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Kenneth Bengtsson, the chair of the nomination committee, expressed regret over Akerstrom's decision to leave, noting her reassessment of her capability to serve effectively as Alecta's Board Chair. While the specific reasons for Akerstrom's resignation were not disclosed by Alecta, the pension fund clarified that there were no unmanageable conflicts of interest involved. Akerstrom herself…
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The reduction accounts for about 2.4% of its overall U.S. workforce, totalling 13,489 employees across the bank's group operations in the country. The decision to streamline its workforce comes as part of Santander's broader initiative to adapt and innovate in response to the dynamic demands of the banking industry, particularly the shift towards digital banking…
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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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Although aligned with market forecasts, some predicted interest rate hikes. Adrian Orr, the governor of the RBNZ, commented that it is important to manage constant inflation pressures to achieve the 2% inflation target in the local economy. This more dovish outlook instigated a rally in bonds and a selloff in the New Zealand dollar. By…
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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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The anticipation was exceptionally high before the release of the core personal consumption expenditures (PCE) price index data, a crucial inflation measure closely monitored by the U.S. Federal Reserve. The data, released on Thursday, revealed that the yearly inflation growth rate was the lowest it had been in almost three years, providing some relief to…
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Industry experts anticipate that under Simoes' leadership, previously an executive at Santander and HSBC, the FTSE 100 company may increase its focus on pension investments and international expansion. In a strategic shift, L&G has opted for the services of the investment banking firm Robey Warshaw, noted for its partnership with former British chancellor George Osborne,…
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