BP CEO Sees Pay Cut 30% After Profit Miss, Elliott Intervention
The London-based company's 2024 earnings results reported in February showed a steep drop in profits compared with the previous year. That set the stage for a subsequent strategic switch back to oil and gas after years of shifting away from fossil fuels, as it strives to catch up with rivals such as Shell Plc which were quicker to pivot back to core businesses.
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New to The Street's Esteemed Client NeOnc Technologies Finalizes $50 Million Strategic Partnership with Quazar Investment as NuroMENA Holdings Receives ADGM Incorporation
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Axios
an hour ago
- Axios
Lime launches seated scooters in SF
The next time you spot a Lime scooter, it might look a little different. The big picture: The San Francisco-based micromobility company rolled out its new LimeGlider seated scooter here Friday — a hybrid between a traditional scooter and an e-bike that allows riders to " simply get on and go," according to Lime. Zoom in: San Francisco is among the first cities to deploy the hybrid, which replaces pedals with foot rests and is designed to achieve a lower center of gravity for improved stability. It also includes ergonomic hand grips and wider front baskets. These features were incorporated to accommodate groups traditionally underrepresented in Lime's ridership, such as women and seniors. State of play: Lime deployed a fleet of 250 Gliders throughout the city. This new set of wheels will offer "even more accessible options for people with disabilities, seniors and other people who may not feel comfortable or safe on standing scooters," Julie Kirschbaum, SFMTA director of transportation, said in a press release. The company is working in tandem with the city's efforts to prioritize sustainability and invest in infrastructure like protected bike lanes, added Hayden Harvey, Lime's director of government relations.
Los Angeles Times
an hour ago
- Los Angeles Times
El Segundo-based NEOGOV Acquired by EQT and CPP Investments in $3-Billion Transaction
EQT, together with Canada Pension Plan Investment Board, agreed to acquire El Segundo-based software and compliance firm NEOGOV in a deal that values the company at more than $3 billion, including debt. The company was founded in 2000 and operated as a portfolio company from funds managed by Warburg Pincus and Carlyle. NEOGOV is focused on human capital management and public safety solutions. The company's cloud-native suite of products is used by nearly 10,000 public sector organizations across North America. It supports the full employee lifecycle from recruitment and onboarding to performance management and compliance management. 'Local governments are the backbone of our communities. Our mission is to help them operate more efficiently and serve citizens more effectively. EQT and CPP Investments share our vision and bring the experience and capital to help us scale faster,' said Shane Evangelist, chief executive of NEOGOV, in a statement. 'Our priorities include advancing product innovation and AI capabilities to help public sector agencies drive increased efficiency and compliance adherence. EQT and CPP Investments' deep expertise in software and broad network of advisors will be instrumental to supporting our growth.' As part of the transaction, CPP Investments will contribute $700 million and become a significant minority shareholder. 'NEOGOV is a leading software platform with distinct customer offerings that is poised for growth due to increasing demand from its customers across North America,' said Sam Blaichman, managing director, head of direct private equity for CPP Investments, in a statement. The transaction is subject to customary conditions and approvals and is slated for completion in the coming months. Moelis & Company LLC served as financial advisor, and Willkie Farr & Gallagher served as legal counsel to NEOGOV. Jefferies LLC served as financial advisor, and Ropes & Gray served as legal counsel to EQT. Information for this article was sourced from EQT.
