Shares of electric vehicle manufacturer Lucid Group Inc ( LCID ) are trading higher after the company entered into an agreement with its majority stockholder, Ayar Third Investment Company. Ayar, an affiliate of the Public Investment Fund (PIF), will purchase $1 billion of newly created series of convertible preferred stock via private placement. Lucid intends to use the net proceeds from the private...

(Reuters) - Canadian life insurer Sun Life Financial ( SLF ) on Monday named industry veteran Timothy Deacon as its chief financial officer, effective April 8. The insurer had been on a search for a new CFO since December, after it said it would move Manjit Singh to the role of president of the company's Asia business in March. Deacon,...

09:34 AM EDT, 03/25/2024 (MT Newswires) -- Open Lending ( LPRO ) said Monday that Keith Jezek has resigned as chief executive officer and as a member of the board. Chuck Jehl, currently chief financial officer, has been named interim CEO and chief operating officer, the company said. The board has launched a search for a permanent CEO, Open Lending...

(Reuters) - Data center firm Equinix ( EQIX ) said on Monday its audit committee has commenced an independent investigation into the allegations made by short-seller Hindenburg Research in its report last week. Hindenburg in its report alleged that Equinix ( EQIX ), which operates as a real estate investment trust, was using an accounting trick to boost its adjusted...