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...

09:35 AM EDT, 03/25/2024 (MT Newswires) -- Apple ( AAPL ) Chief Executive Tim Cook said he Vision Pro headset will launch in China this year, CNBC and Reuters reported, citing Chinese state media. Cook disclosed the planned launch in response to a question posed on the sidelines of a forum in Beijing, Reuters reported. Apple ( AAPL ) didn't...

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...