Los Angeles commuters: Don't panic, but self-driving taxis may soon become a more common site on local streets.On March 1, state regulators gave Waymo, the self-driving taxi company owned by Alphabet, Google's parent company, the green light to expand its robotaxi service to Los Angeles County, paving the way for the company's expansion into one of its largest markets. in the United States. nation.While local transit agencies handle day-to-day traffic operations in their jurisdictions, the California Public Utilities Commission oversees regulation of autonomous vehicles across the state, replacing local governments.Waymo hasn't revealed a timeline for when its service will become…
Author: ricardofrancois
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.This article is an on-site version of the Lex newsletter. Sign up here to get the full newsletter sent directly to your inbox every Wednesday and FridayDear reader, Linking CEO pay to company performance seems very reasonable. Why are the interests of the company's president not aligned with its investors? Giving CEOs performance-based stock awards has the added benefit of reducing cash outlay on base salaries and makes calculating pesky bonus ratios between CEO and worker more difficult. The problem is that…
Job creation exceeded expectations in February, but the unemployment rate rose and employment growth compared to the previous two months was not as great as initially reported.The Labor Department's Bureau of Labor Statistics reported Friday that nonfarm payrolls increased by 275,000 during the month while the unemployment rate rose to 3.9%. Economists surveyed by Dow Jones were looking for payroll growth of 198,000.February was a step higher in growth than January, which saw a sharp downward revision to 229,000, from the 353,000 initially reported. Job growth in December was also revised to 290,000 from 333,000, bringing the two-month payrolls total…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.Novo Nordisk is seeking deals to bolster its global leadership in weight loss after identifying promising trial results for its anti-obesity pill that would expand the Danish drugmaker's portfolio beyond top-selling injectables Wegovy and Ozempic.Speaking at the company's headquarters in Bagjesværd on the outskirts of Copenhagen, CEO Lars Frørgaard Jørgensen said potential targets for acquisitions or partnerships include biotech companies with assets in mid-stage trials.“You can assume we're looking at everything, or at least most of it,” he said.David Moore, vice president…
Check out the companies making headlines before the bell. Carvana – Shares rose more than 5% after RBC upgraded the stock to Sector Perform from Underperform. The company indicated reasonable evaluation and appropriate preparation to accelerate the unit. MongoDB – Shares fell more than 8% after the company issued disappointing guidance for the first quarter and full year on Thursday. Meanwhile, MongoDB beat Q4 expectations. The database software maker reported adjusted earnings of 86 cents per share on revenue of $458 million. Analysts had expected earnings of 47 cents per share and revenue of $433 million, according to LSEG. DocuSign…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.Sam Altman and other OpenAI leaders responded this week with a tone of deep regret to Elon Musk's lawsuit. “We are saddened that it came to this with someone we greatly admired, someone who inspired us to aim higher, then told us we would fail, started a competitor and then sued us,” they wrote.Oh, I guess they're not fans of the Tesla and SpaceX co-founder anymore. The resentment is mutual, given that Musk last week accused Altman's staff of “blatant betrayal” and…
Struggling electric vehicle startup Faraday Future has issued its first recall, covering all 11 vehicles it made last year, as it struggles to keep its headquarters in Los Angeles. The recall centers around an issue with the airbag warning light on the Faraday Future FF91 SUV. The company appears to have discovered that a bug in the car's software may prevent the warning light from turning on in the event of a problem with the airbags. Faraday Future says it will “schedule pickup and re-delivery of owners' vehicles” to fix the software. So far, early clients have been celebrities like…
Henrik Fisker, a widely respected Danish car designer, joined the battle for electric vehicle dominance in 2007 with his first endeavor, Fisker Automotive, but failed. The company ended with his resignation and bankruptcy in 2013. Now the designer-turned-CEO is back and determined to do it right.In 2016, he came back with a new company that is almost completely unrivaled Same name and logo. The new plan: Instead of making upscale sedans with six-figure prices, target the mass market with a mid-size, mid-range electric SUV. He has plans for a smaller, cheaper crossover, a midsize pickup truck, and yes, an electric…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.BP has appointed Aviva chief executive Amanda Blank as its next senior independent director in the energy company's first major board shake-up since it oversaw the departure of its chairman Bernard Looney last year in a scandal over his past relationships with colleagues.Blanc, who has been a member of BP's board since September 2022, will take up the new position after the shareholders' meeting in April, replacing Paula Rosput Reynolds, the company said in its annual report.Tushar Murzaria, a member of the…
The logo of the Danish pharmaceutical company at its headquarters in Bagsvård outside Copenhagen, Denmark on February 1, 2017.Liselotte Sabro | AFP | Getty ImagesObesity drug maker Wegovy has overtaken Novo Nordisk Tesla In market value, after new early trial data showed positive results for the new experimental weight loss pill.Shares of the Danish company hit a record high on Thursday, rising as much as 8%, after telling investors that a phase 1 trial of the company's amicretin pill showed 13.1% weight loss in participants after 12 weeks.Novo Nordisk is now the world's 12th most valuable company, with a market…