These layoffs allegedly include approximately 600 positions at the company’s tech campus near Detroit. The dismissals follow hot on the heels of GM executive changes in operations. This includes the appointment of Mike Abbott, a former Apple Inc. (AAPL) executive, who, citing health reasons, resigned from GM in March 2024 after less than a year…
Read more
The $6bn share buyback was confirmed by CFO Paul Jacobson, who pointed out that the automotive giant is ramping up its capital allocation strategy. The GM board has approved this new plan, and the repurchase of up to $6bn of the company's common shares will proceed. This new strategy is in addition to the $10bn…
Read more
FINRA has informed the public that it has fined Merrill Lynch, Pierce, Fenner & Smith Inc. for improperly selling shares in initial public offerings (IPOs) to industry insiders. Merrill Lynch will pay a $5.5 million fine, and disgorge $490,530 it earned as revenue from the sales. IPOs included Facebook, Inc. (NASDAQ:FB), General Motors Co. (NYSE:GM),…
Read more