John Dunne Riversdale board recommends $3.9bn Rio Tinto bid Share whatsapp Thursday 23 December 2010 2:47 am Anglo-Australian miner Rio Tinto had $3.9bn (£2.5bn) to buy African-focussed rival Riversdale in agreed but investors are betting on a possible bidding war from rival suitors.Rio’s first big acquisition since its ill-timed Alcan buy in 2007 also needs the backing of at least one of Riversdale’s three large shareholders. Fund managers said they expected India’s Tata Steel and Brazilian steel group CSN to oppose the offer.Rio, which wants access to Riversdale’s coking coal deposits in Mozambique, raised its offer to A$16 per share cash on Thursday from an earlier indicative bid of A$15.Riversdale’s shares rose as high as A$16.84 when the stock resumed trading, indicating investors were expecting a higher offer from a rival party.“I think there is a strong potential (for rival bids). There aren’t that many big new coking coal assets out there and this one is very large and it’s near to production,” said Andrew Harrington, an analyst at Patersons Securities in Sydney.A group of state-run Indian firms including NTPC have also indicated they were looking at Riversdale, with a source at a member of the consortium telling Reuters it expected to decide soon whether to bid.Other interested parties taking a look at Riversdale include Anglo American, ArcelorMittal and Xstrata, sources familiar with the matter and fund managers have said.The miner needs acceptances from 50 percent of Riversdale shareholders which would require getting on board at least one of the target’s three big shareholders – Tata, CSN and US fund Passport Capital – which together own about half of the company, according to Reuters data.“I think Tata will be reluctant to be bought out, having been a long-term believer, just as it’s entering into production,” Patersons’ Harrington said. whatsapp Show Comments ▼ Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof Tags: NULL
Our 6 ‘Best Buys Now’ Shares Buying the best UK shares today could be a sound long-term move. After all, indexes such as the FTSE 100 and FTSE 250 have always successfully recovered from their various downturns to produce new record highs.As such, purchasing today’s undervalued companies may mean there’s significant scope for capital growth in the coming years.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…With that in mind, here are six shares that have experienced very mixed performances in 2020. Looking ahead, they appear to have the right strategies to deliver improving performances and could benefit from a stronger economic environment in the coming years.UK shares with solid performances in 2020Persimmon and Morrisons could be among the best UK shares to buy now. Even though their performances have generally been robust this year, they may benefit from a stock market rally in the coming years.Persimmon has a strong balance sheet and a large land bank that could sustain profit growth in the coming years. Low interest rates may mean that demand for new homes remains robust, and even improves as the economy recovers.Similarly, Morrisons may benefit from improving consumer confidence in 2021, as an economic recovery is likely to take hold. Its expansion into online shopping may provide it with a stronger market position relative to value-focused sector peers.The potential to benefit from a stock market rallyA stock market rally may lift the prices of UK shares such as IAG and IHG. Both companies have suffered greatly from the 2020 stock market crash. Should a rally take hold in the coming years, it’s likely to be based on an improving economic outlook. This could mean the operating environment within the travel and leisure sector is strengthening.Since IAG and IHG seem to have relatively solid balance sheets, they may outlast smaller and weaker peers in the current economic crisis. The end result could be stronger competitive positions that allow them to benefit to a greater extent from a likely recovery in demand over the long run.An improving global economic outlookUK shares such as BP and Rio Tinto have experienced mixed performances this year. Despite the stock market rally, BP’s share price is still around 45% down on its 2020 starting price. However, its plan to invest in low-carbon assets could lead to improving financial performance in the long run.Meanwhile, Rio Tinto’s shares may have further capital growth potential, despite their 20% rise since the start of this year. The mining company could benefit from an expected economic recovery in 2021 that prompts rising demand for iron ore and other commodities.With the company having maintained a solid balance sheet and strong cash flow, it appears to be in a good position to outperform many of its sector peers in the coming years. Enter Your Email Address Peter Stephens owns shares of BP, Morrisons, Persimmon, and Rio Tinto. The Motley Fool UK has recommended InterContinental Hotels Group. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. “This Stock Could Be Like Buying Amazon in 1997” I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Image source: Getty Images. Stock market rally: I think these are the best UK shares to buy now Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. 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Collaborators:Ernesto Rossell Zanotelli, Alfredo Muñoz Jimenez, Désirée Gómez Córdoba, Aldo Moreno GamboaProject Architect:Jacobo Micha MizrahiCity:Mexico CityCountry:MexicoMore SpecsLess Specs Apartments Save this picture!© Rafael Gamo+ 20 Share Architects: ARCHETONIC Year Completion year of this architecture project ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/518800/comercio-117-archetonic Clipboard Projects CopyApartments, Renovation•Mexico City, Mexico Mexico Save this picture!© Rafael GamoText description provided by the architects. The architectural project is essentially composed of an intervention to a building built in the 1950s that served as storage but is now taken as raw material to provide shelter to the new housing program, developing 18 departments made possible by leveraging and strengthening the existing structure. The entire development was designed with simple elements, strong and inexpensive materials, respectful of the nature of the assignment, which resulted in not only the architectural piece, but a successful business as well.Save this picture!© Rafael GamoIn the formal part of the project, we face a facade with a mixture of styles, where our main goal was to provide uniformity and standardize the elements of this unique street facade, which would harmonize to the interior-exterior relationship. One of the advantages of the location of the project is the presence of a beautiful and monumental jacaranda in front of the building. We use nature to our advantage as a key element of the project and then design a simple and unassuming facade that allows the passage of the light through it to find the beautiful green and purple leaves; at the same time, these organic and amazing shapes of the trees are projected as shadows on the facade, giving life to the facade of the new proposal, nature being the protagonist of the story.Save this picture!© Rafael GamoTo maintain consistency in color, allow the penetration of sunlight, generate interior-exterior views, and resolve security concerns, we use an Irving type mesh to provide a new skin, giving a sober, simple and elegant appearance to the building. We found useful and logical to use a strong material for the facade, and a mesh that would respond to a large number of conditions where one of the main issues was safety.Save this picture!SectionProject gallerySee allShow lessTierras Blancas House / Alberto Browne + Hernán FontaineSelected ProjectsHouse for 60 Friends / Martin HurtadoSelected ProjectsProject locationAddress:Comercio, Escandón, Miguel Hidalgo, Mexico City, Federal District, MexicoLocation to be used only as a reference. It could indicate city/country but not exact address. Share “COPY” ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/518800/comercio-117-archetonic Clipboard Year: 2012 Comercio 117 / ARCHETONIC “COPY” Comercio 117 / ARCHETONICSave this projectSaveComercio 117 / ARCHETONIC ArchDaily CopyAbout this officeARCHETONICOfficeFollowProductsSteelConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousingApartmentsRefurbishmentRenovationMexico CityMexicoPublished on June 24, 2014Cite: “Comercio 117 / ARCHETONIC” [Comercio 117 / ARCHETONIC] 24 Jun 2014. ArchDaily. Accessed 11 Jun 2021.
“COPY” Architects: Hors-Champs Area Area of this architecture project CopySave this picture!© Cyrille LallementRecommended ProductsLouvers / ShuttersRabel Aluminium SystemsElectric Folding Shading System – Rabel 14000Enclosures / Double Skin FacadesFranken-SchotterFacade System – LINEAMetallicsKriskadecorMetal Fabric – Outdoor CladdingEnclosures / Double Skin FacadesIsland Exterior FabricatorsCurtain Wall Facade SystemsText description provided by the architects. The house is situated in a vast field and the clients requested it be largely open to the surroundings. Therefore large French windows are found in every room and a 200 m² terrace extends every side of the house. The surrounding field is a former meadow in the village of Saint-Sauveur, in the Dordogne departement. Special care was taken with the building volume and the shape of the roof, in order to better blend in with the regional heritage. The geometry of Périgord roofs with four sideshas been recreated in a new way. Accordingly, the deep roof overhangsprotect from the sun and the harsh rain. The skin of the building is made of dark grey metal cladding, which is a reminder of local tobacco dryer architecture, which are long, narrow buildings and their wood skin is covered with motor oil.Save this picture!© Cyrille LallementBudget optimizationAesthetic choices were balanced with the limited budget: few materials and a short building time. The building is built on one floor, with a semi-deep foundation on clay soil. The building is compact: 25 meters long and 5 meters wide. The interior is separated into three sequences based on a regular grid. The facades are symmetrical. The concrete floor finish is the same outside and inside, creating continuity between both areas. The furniture is made from two-layered birch wood and white painted OSB. For the outside skin, the chosen material was to be durable, standardized and prefabricated allowing the house to be built in less than a month. Ten days were necessary to raise the isolated mono-bricks walls, then a week for the isolated metal framing and finally a week for the skin. Save this picture!© Cyrille LallementSave this picture!PlanSave this picture!© Cyrille LallementTechnical elements made invisibleA special attention to details, especially concerning technical elements, is fundamental to a minimalist approach. Therefore gutters, rain water downspouts and manholes were unobtrusively integrated. A crawl space was made possible thanks to ventilated cladding. A sump was hidden in the garden, to collect rain water. The roof is extended in order to shelter the car and create a porch. Being part of the entrance, parking is integrated in the whole design. The scale and careful details of the house reveal its typology, and make the whole project more refined. As an example, a slight roof overhang is chosen instead of a perimeter detail. A simple bracket replaces industrial angle connectors. The cut-out sheet metal was used in order to hide the window joinery. The cladding edge is sharp so the iron is bent where the cladding stops. As a result, the façade appears continuous and light, enhancing the wave of the iron.Save this picture!© Cyrille LallementSave this picture!SectionBlack is colorThe surrounding landscape is enhanced by the dark metal. The dark shade seems severe but is actually subtle. Texture variations make it ornamental. The metal sheets reflects the sky and the iron waves looks tinted with gold at the beginning and the end of the day. The roof is perforated to filter the sun light. It generates shadows distinctive to the seasons. Outside, precious dark harmony contrasts with the lightness inside. The most used rooms face the garden. The roof bend is softer on the south side. The tall bay windows frame the landscape and asymmetrical casements create sophistication. In the north end, a technical buffer space, including the lengthwise corridor like space, allows thermic optimization. Save this picture!© Cyrille LallementProject gallerySee allShow lessAD Classics: Kings Road House / Rudolf SchindlerArchitecture ClassicsSky Walk / Franek ArchitectsSelected Projects Share ArchDaily Saint-Sauveur House / Hors-ChampsSave this projectSaveSaint-Sauveur House / Hors-ChampsSave this picture!© Cyrille LallementHouses•Saint-Sauveur, France “COPY” ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/783834/saint-sauveur-house-hors-champs Clipboard Projects Houses 2015 Area: 135 m² Year Completion year of this architecture project Year: Saint-Sauveur House / Hors-Champs ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/783834/saint-sauveur-house-hors-champs Clipboard Photographs: Cyrille Lallement Manufacturers Brands with products used in this architecture project France CopyAbout this officeHors-Champs OfficeFollowProductsWoodSteel#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesSaint-SauveurFrancePublished on March 16, 2016Cite: “Saint-Sauveur House / Hors-Champs ” 16 Mar 2016. ArchDaily. Accessed 11 Jun 2021.
Howard Lake | 23 March 2007 | News The two charities representing the interests of Britain’s 1.8m lone parents and their children have agreed in principle to merge.Gingerbread and One Parent Families are currently working towards a date in May to implement the merger which will create a single national charity solely dedicated to supporting one-parent families and fighting against poverty that affects many of them. Deputy chief executive of One Parent Families Nigel Purkis said it was very early days and no name had yet been decided for the new organisation. He said that Gingerbread was very well-known among one-parent families, and One Parent Families among opinion formers so we will be looking at how best to maximise the value of the brands. He said it was likely that both names would be retained in some format. Advertisement AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Tagged with: Management About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. 28 total views, 1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Merger for One Parent Families and Gingerbread It was also too early to say whether any staff would be affected by the merger, Purkis said, but added it was a very positive step to increase capacity and that all possible efforts would be made to keep any redundancies to a minimum.
While millions of migrant and refugee families struggle under a climate of fear fueled by widespread deportations, private for-profit prison companies and the major banks that fund them are cashing in on immigrants’ suffering.Shares of GEO Group and CoreCivic Inc. (formerly Corrections Corporation of America (CCA)) shot up 21 and 43 percent respectively following Donald Trump’s election. Since then, CoreCivic’s stock price has risen 120 percent while GEO has seen an 80 percent increase. CoreCivic and GEO control 85 percent of the U.S. private prison market.The Trump administration’s crackdown on immigrants has been a boon to the for-profit prison industry, which operates over half of the “beds” in Immigration and Customs Enforcement (ICE) detention facilities.GEO made a hefty contribution to a super PAC for Trump during the election, while CoreCivic contributed millions to Trump’s inauguration. Shortly after being confirmed as Trump’s attorney general, Jeff Sessions overturned an Obama administration initiative to phase out government use of corporate-run prisons.Detention bed quotasSince 2003, GEO has spent over $3 million lobbying Congress plus a million more in contributions to local and state political campaigns. CCA was also heavily involved in lobbying. These investments paid off in 2009 when a Democratic-controlled Congress passed, and Obama signed, legislation mandating that ICE maintain 34,000 detention beds at any given time.This “detention bed quota” policy guarantees profits for the private prison industry. Since the federal government is required to pay for the bed space whether or not it is used, ICE came under increasing pressure to pursue a more aggressive deportation policy.By 2015, CoreCivic was making $3,356 in profit per prisoner and GEO $2,135 annually.Just prior to Trump’s election, the number of people in detention was averaging 41,000 each day. Currently, the number of people held in detention centers is up to 80,000 per day. If Trump’s plans to deport two million to three million people in his first year are carried out, the American Civil Liberties Union estimates it would require construction of over 100,000 new immigration detention beds.Both GEO and CoreCivic have been accused of widespread human rights violations. Charges against GEO include the company’s forcing tens of thousands of immigrants at a Colorado detention facility to perform slave labor. Their Karnes Family Detention Center in Texas, which houses mothers and children, saw repeated hunger strikes over poor conditions.In his article “My Four Months as a Private Prison Guard,” Shane Bauer, writing for Mother Jones, documented what conditions were like in a prison run by CCA. The company faced so many charges of abuse and violations of prisoners’ rights that it lost four contracts to run prisons in the month of June 2013 alone.Wall Street bankrolls private prison industryThe rapid expansion of for-profit private prison detention centers was made possible through financial investments and loans from major banks. Bank financing allows these companies to profit off mass incarceration.CoreCivic’s single largest investor is the Vanguard Group Inc., with shares valued at nearly $600 million. Six banks finance most of the debt issued that makes it possible for CoreCivic and GEO Group to expand. While Bank of America, JPMorgan Chase, BNP Paribas, SunTrust and U.S. Bancorp have all extended revolving credit to for-profit private prison companies, Wells Fargo has financed the three largest private prison companies, including Management and Training Corporation.In 2011, a Tennessee divestment campaign pressured Wells Fargo to sell off shares with GEO Group. However, at the same time it steadily increased financing for CCA through a $785 million line of credit. In 2016, the city of Portland, Ore., and the University of California’s Board of Regents considered divesting from Wells Fargo due to the bank’s financing of for-profit incarceration.Wells Fargo prison investment not out of characterIn 2008, Wells Fargo purchased Wachovia Bank in a $15.1 billion deal. A few years prior to this merger, under pressure from a campaign by Black communities in Chicago, Wachovia Bank issued a public apology for its historic ties to the slave trade in the Americas, including owning enslaved Africans and accepting them as payment.In September 2016, Wells Fargo’s shares fell by $9 billion when it was revealed that bank employees were told to create $185 million in fake customer accounts to collect fees and meet sales quotas. CEO John Stumpf responded by firing more than 5,300 employees. In October 2016, Stumpf resigned amidst calls that criminal charges be filed against him.An even more recent call for divestment from Wells Fargo resulted from its financing of the controversial $3.8 billion Dakota Access pipeline.It is time for the global working class to unite against Wells Fargo and all the banks and Wall Street corporations that profit off our combined suffering. All out for May Day 2017 in support of immigrant rights!FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare this
IWWD rally, March 17The International Working Women’s Day Coalition held its annual rally, march and forum here on March 17 to reinforce its decades-long theme that every issue is a woman’s issue. The rally gathered in front of busy Penn Station, where various women and gender-oppressed activists spoke on the plight of nurses in New York, who have voted to go out on strike; the massacre of Muslim worshippers in New Zealand; the fight for decriminalization of sex workers; the war on transwomen of color; and more. Following the rally, the group marched and chanted inside Penn Station to show solidarity with low-wage women workers at Dunkin’ Donuts, McDonald’s, KFC and other shops. The march ended with an indoor forum, where a panel of representatives from Migrante — a Filipino women-led im/migrants rights group — Domestic Workers United and Picture the Homeless led a discussion on strategies and tactics their groups are currently exploring. They stressed that having strong alliances with others is key to building a global movement to defeat capitalism and imperialism. The issues of human trafficking and sexual violence were discussed in the case of Cyntoia Brown, a 31-year-old African-American woman who has been imprisoned since the age of 16 for killing her abuser. International support has won her an impending clemency release from prison on Aug. 7.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare this
March 12, 2021 Find out more Sign the petition to call for Tariq Biasi’s release News SyriaMiddle East – North Africa March 8, 2021 Find out more RSF_en Toll of ten years of civil war on journalists in Syria Help by sharing this information Damascus TV presenter arrested under cyber-crime law April 9, 2008 – Updated on January 20, 2016 Call for release of writer and poet sentenced to four years in prison for criticising government online Receive email alerts to go further News February 3, 2021 Find out more Reporters Without Borders “firmly condemns” the four-year prison sentence which a Damascus state security court passed this week on writer and poet Firas Saad for disseminating allegedly false information online. Currently held in Saydnaya prison north of the capital, he was accused of undermining the “integrity of the state” and “national sentiment.”“This sentence is unjust because all Saad did was criticise the government,” the press freedom organisation said. “It is one more case of the government cracking down on its opponents. The sentence also serves to discourage Syrians from expressing their views and thereby reduce the Internet to silence. We call on the authorities to free Saad at once.”Arrested in November 2006, Saad was first taken before the state security court on 24 June 2007, but the trial was postponed twice. He was convicted under article 286 of the criminal code, which punishes “any person who disseminates information considered false or exaggerated and liable to weaken national morale.”Saad upset the authorities with the articles he posted on Syrian websites that are often blocked within Syria. The article that prompted his arrested, entitled “What did the Syrian army do in Israel’s war against Lebanon,” was posted on the Syrian site Al Hiwar Al Moutamaden http://www.ahewar.org/debat/show.art.asp?aid=70127), which means “Modern Discussion”.It criticised the Syrian government’s “defeatism” during the July 2006 war in Lebanon and described government officials as people who are “corrupt to the hilt and who repress rather than defend Lebanon.”Saad, who comes from the northwestern town of Al Lathqiyah, has had two collections of poems published and has written many articles on Syria’s political and economic situation.Syria is one of the world’s most repressive countries as regards the Internet. Under regulations that took effect in July 2007, website owners are required to keep the personal data of everyone who posts articles and comments on their sites. Tariq Omar Biasi, a 22-year-old blogger, was arrested the same month for posting a comment online that was very critical of the government. He is still being held without any explanation being provided by the authorities. He is due to be tried this month.Read Saad’ article (arabic) News Wave of Kurdish arrests of Syrian journalists News SyriaMiddle East – North Africa Organisation Follow the news on Syria
STAFF REPORT First Heatwave Expected Next Week HerbeautyShort On Time? 10-Minute Workouts Are Just What You NeedHerbeautyHerbeautyHerbeautyYou Can’t Go Past Our Healthy Quick RecipesHerbeautyHerbeautyHerbeautyWeird Types Of Massage Not Everyone Dares To TryHerbeautyHerbeautyHerbeauty10 Ways To Get Into Shape You’ve Never Tried BeforeHerbeautyHerbeautyHerbeauty6 Fashion Trends You Should Never Try And 6 You’ll LoveHerbeautyHerbeautyHerbeauty15 Countries Where Men Have Difficulties Finding A WifeHerbeautyHerbeauty STAFF REPORT Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Subscribe Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena Your email address will not be published. Required fields are marked * Business News More Cool Stuff 50 recommended0 commentsShareShareTweetSharePin it Image Credit: CruiseCruise, the self-driving car subsidiary of GM backed by SoftBank Vision Fund, Honda and T.Rowe Price and Associates, is closing its Pasadena office and laying off nearly eight percent of its workforce as the company tries to reduce costs during the COVID-19 pandemic, a TechCrunch report said.The Pasadena location opened early last year after GM acquired Strobe, a Pasadena-based company, in order to incorporate Lidar, short for Light Detection and Ranging, into the first wave of autonomous vehicles.Cruise leased 47,051 square feet of space in a two-story building at 465 N. Halstead Street, near the Hastings Village Shopping Center.Cruise CEO Dan Ammann sent a memo confirming that the layoffs will affect employees in the product, marketing and rideshare business units, according to the TechCruch report.The memo said employees who are laid off will be offered severance and their healthcare benefits will be paid for by the company through the end of the year.Cruise spokesman Milin Mehta confirmed the cuts to TechCrunch, and noted that the Lidar team will be moved to Cruise’s San Francisco office,“In this time of great change, we’re fortunate to have a crystal clear mission and billions in the bank,” Mehta told the tech news outlet. “The actions we took today reflect us doubling down on our engineering work and engineering talent.”The downsizing will not effect the company’s efforts recruit engineers, Ammann said in the memo.“From here we expect to recruit and grow across our engineering teams for the balance of the year,” he confirmed.The layoffs are part of a broader strategy to shift resources to where its needed most during the COVID-19 pandemic, the report said. Name (required) Mail (required) (not be published) Website CITY NEWS SERVICE/STAFF REPORT Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Darrel Done BusinessVirtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Community News Community News Top of the News EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Business News Self-Driving Car Company Cruise Trims Workforce, Closes Pasadena Facility Amid Pandemic “We’re fortunate to have a crystal clear mission and billions in the bank,” says CEO By ANDY VITALICIO Published on Friday, May 15, 2020 | 12:47 pm Make a comment