Latest news with #Fortune
Business Wire
9 hours ago
- Business
- Business Wire
CACI to Take on New Mission-Critical Work within the Intelligence Community
RESTON, Va.--(BUSINESS WIRE)--CACI International Inc (NYSE: CACI) announced today that it has been awarded nearly $638 million in new contracts within the intelligence community to support various national security efforts. We possess unparalleled mission knowledge valuable to the Intelligence Community. 'As a leader in managing complex, specialized requirements for classified customers, we possess unparalleled mission knowledge valuable to the Intelligence Community,' said John Mengucci, CACI President and Chief Executive Officer. 'These new contract awards expand upon our decades of experience and understanding of their unique objectives, which accelerates effective outcomes, drives positive results, and allows personnel to stay focused on achieving ongoing success in an ever-evolving threat landscape." CACI provides best-in-class solutions to meet mission-critical requirements and complex challenges — 24/7/365. As a trusted partner to intelligence and defense agencies, the company leverages its extensive, results-driven expertise in conjunction with state-of-the-art methodologies and technologies, helping analysts and operators around the world deliver uncompromising national security. About CACI At CACI International Inc (NYSE: CACI), our 25,000 talented and dynamic employees are ever vigilant in delivering distinctive expertise and differentiated technology to meet our customers' greatest challenges in national security. We are a company of good character, relentless innovation, and long-standing excellence. Our culture drives our success and earns us recognition as a Fortune World's Most Admired Company. CACI is a member of the Fortune 1000 Largest Companies, the Russell 1000 Index, and the S&P MidCap 400 Index. For more information, visit us at There are statements made herein which do not address historical facts, and therefore could be interpreted to be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. The factors that could cause actual results to differ materially from those anticipated include, but are not limited to, the risk factors set forth in CACI's Annual Report on Form 10-K for the fiscal year ended June 30, 2024, and other such filings that CACI makes with the Securities and Exchange Commission from time to time. Any forward-looking statements should not be unduly relied upon and only speak as of the date hereof. CACI-Contract Award-Business Wire
Yahoo
11 hours ago
- Automotive
- Yahoo
Report: Tesla has not prepared Austin for robotaxi launch next week (updated)
On Wednesday, May 28, Bloomberg reported that Tesla will now be launching its robotaxi service in Austin on June 12. According to that report, the June 12 date "could still change" in the days ahead. You can read our original story on the Tesla robotaxi rollout below. Elon Musk has said that he's now going all-in with his companies after shifting focus from his role as a special government employee for the Trump administration. And there's no shortage of problems for Musk to attend to, including Tesla's recent abysmal quarterly report and crashing Tesla sales numbers in Europe. Now, another big Tesla project may be in jeopardy. Tesla is set to launch its long-awaited robotaxi program in Austin, Texas next week. However, according to a new report from Fortune, the city of Austin is not ready for Tesla's robotaxis just yet. A small fleet of Tesla robotaxis is already up and running in Austin and San Francisco, serving an "early set of employees" in the two cities as part of an initial testing phase. Next week's broader rollout would bring about 10-20 Tesla Model Y self-driving cars to Austin's streets, serving the public for the first time in a robotaxi capacity. If successful, Tesla plans to scale the number of robotaxis into the thousands. Fortune reports that Tesla held initial meetings with both state and city agencies in Austin a few weeks ago. However, according to that report, officials with Austin's transportation department, the city's emergency first responders, and federal regulators say that Tesla has failed to deliver crucial information regarding the service, which is supposed to go live in just a few days. Per Fortune, the company has so far failed to share first responder plans or guides with Austin's transportation department and fire department. That information could be critical if a robotaxi crashes and first responders need to rescue passengers, put out a vehicle fire, or use "jaws of life" rescue tools. In fact, Austin officials told Fortune Tesla hasn't even told the city what level of autonomy the Tesla robotaxis will have at launch, meaning Austin isn't sure if Tesla's service will require human supervision or not. While other self-driving car companies, like Waymo, are currently operating in Austin, Tesla uses its own technology. Waymo's vehicles have large sensors sitting atop the cars in order to navigate the roads, while Tesla's vehicles utilize video cameras and AI. Tesla has been in touch with state and city agencies and has assured them that more information is on the way, according to officials the Fortune reporter spoke with. The company has been present in Austin for at least a few weeks now in order to run some initial testing. However, Fortune described the preparations so far as rushed. Musk has been hyping up Tesla's robotaxi capabilities for years, even as competitors beat him to launching their own self-driving ride services. Meanwhile, Musk is overseeing preparations for the latest Starship launch. So far, the Starship rockets have had an unfortunate tendency to explode. Will Tesla's robotaxi service have similar problems after launch? We'll know more soon.
Yahoo
11 hours ago
- Automotive
- Yahoo
Tesla has begun testing driverless robotaxis in Austin ahead of June 12 launch, report says
We now have a tentative launch date for Tesla's long-awaited robotaxi service in Austin, Texas: June 12. How long has Tesla been testing out these driverless vehicles that will soon be on the public streets of a major U.S. city? According to Tesla CEO Elon Musk, testing has been going on for "several days." "For the past several days, Tesla has been testing self-driving Model Y cars (no one in driver's seat) on Austin public streets with no incidents," Musk posted on his X account on Thursday. "A month ahead of schedule," Musk continued. "Next month, first self-delivery from factory to customer." According to a new report from Bloomberg, Tesla has an internal deadline of June 12 for the driverless robotaxi launch in Austin. Musk has been promising the imminent launch of Tesla's robotaxi service for years. For Example, in 2022, Musk claimed that the company's robotaxis would be ready in 2024. Earlier this week, Fortune reported that multiple state and local agencies in Austin have yet to receive crucial safety information about the driverless vehicles that will soon be traveling around the city. Fortune reported that Tesla had yet to provide sufficient plans, guides, or training for local emergency responders in the event that a robotaxi crashes and passengers need to be rescued. Musk, in his X post, did not address whether Tesla has since provided this information to Austin officials, but Fortune cited city officials who said the information would be provided prior to launch. Bloomberg's source said that the June 12 launch date is subject to change, but a potential change of plans has yet to come up within the company. Bloomberg also reported that robotaxi testing in Austin started this week, with Musk seemingly confirming this reporting with his X post. Although Musk shared that the company has been testing the robotaxi without a human in the driver's seat, EV outlet Electrek says the service is expected to use "heavy teleoperation." This means a human operator could control the Tesla robotaxi remotely from outside of the vehicle. In addition, as Electrek points out, the standard testing process for such a service typically requires zero incidents "over months of testing and hundreds of thousands of miles before launching." Roughly two weeks seems like a very short timeline to fully test Tesla's driverless robotaxi service. However, as Bloomberg points out, Texas has "relatively relaxed rules around autonomous driving." There's no regulatory body that will stop Musk and company from launching Tesla's robotaxi on June 12, regardless of how ready the service is to drive the streets of Austin.
Yahoo
12 hours ago
- Business
- Yahoo
Fortune Names Rate a ‘Best Mortgage Lender' of 2025
Recent honors from Fortune, NerdWallet, Forbes, and Motley Fool reflect Rate's momentum as a tech-forward, service-first home loan platform CHICAGO, May 30, 2025 (GLOBE NEWSWIRE) -- Rate, a leading fintech company, has been named a 'Best Mortgage Lender' for May 2025 by Fortune, a distinction that highlights the company's customer-first approach, industry-leading technology, and commitment to making homeownership accessible for more Americans. Fortune gave Rate the Best Overall spot for its smooth online mortgage experience, citing its innovative digital tools and impressive array of loan options. With same-day approvals and closings in as little as 10 days, Fortune positions Rate as a strong choice for borrowers seeking an expedited mortgage process. Other leading industry voices are taking notice as well. Forbes recently named Rate the Best Mortgage Lender of 2025 for First-Time Homebuyers, and NerdWallet awarded Rate Best Lender rankings across multiple categories, including FHA Loans, Home Equity Loans, Lower Credit Scores, and more. Motley Fool further recognized Rate as a Best Mortgage Lender of 2025, highlighting the platform's digital experience and down payment assistance. Taken together, these accolades underscore Rate's ability to meet the needs of both first-time homebuyers and seasoned homeowners looking to refinance their present mortgage and/or leverage their equity. With a broad loan portfolio, the nation's top Loan Officers, and unrivaled technology, Rate offers tailored solutions for virtually any borrower, with more ways to say 'yes' built into every part of the process. A standout example is the Rate App, which simplifies financial management by offering mortgage approvals in a day, personal loan applications in five minutes, insurance savings, 24/7 communication with your Loan Officer, and more—all designed to help users achieve their financial goals. This wave of industry recognition is mirrored by the growing interest in Rate from top-performing Loan Officers across the country, many of whom are choosing to join the Rate team. It's a clear sign that Rate has become both a magnet for industry talent and a trusted partner for consumers navigating today's housing market. 'This broad recognition is a result of the work our team puts in every day to make homeownership more cost-effective, simpler, faster, and more attainable,' said Victor Ciardelli, Founder and CEO of Rate. 'We're proud to be building a platform where trust and technology go hand in hand—and grateful to our customers for choosing us.' The accolades add to a growing list of milestones for Rate, including: The launch of Rate Intelligence1, the company's AI-powered mortgage platform The debut of Home Search, giving buyers a unified home shopping and loan experience Surpassing2 10,000 digital mortgage applications in Spanish, underscoring Rate's reach among first-time and diverse homebuyers Rate Insurance being named one of the Top 100 P&C Agencies in the U.S. by Insurance Journal 'For Loan Officers, Rate has become the place where they can truly do their best work,' said Shant Banosian, President of Rate. 'We've built a platform that differentiates LOs from a speed, price, and service perspective so they can grow their business and deliver a superior customer experience.' These accolades cement Rate's leadership as a modern, all-in-one homebuying solution trusted by both new buyers and seasoned homeowners. About Rate Rate Companies is a leader in mortgage lending and digital financial services. Headquartered in Chicago, Rate has over 850 branches across all 50 states and Washington D.C. Since its launch in 2000, Rate has helped more than 2 million homeowners with home purchase loans and refinances. The company has cemented itself as an industry leader by introducing innovative technology, offering low rates, and delivering unparalleled customer service. Honors and awards include: Top 5 Mortgage Lender by Inside Mortgage Finance for 2024; Best Mortgage Lender for First-Time Homebuyers by NerdWallet for 2023; HousingWire's Tech100 award for the company's industry-leading FlashClose℠ digital mortgage platform in 2020, MyAccount in 2022, and Language Access Program in 2023; the most Scotsman Guide Top Originators for 11 consecutive years; Chicago Agent Magazine's Lender of the Year for seven consecutive years; and Chicago Tribune's Top Workplaces list for seven straight years. Visit for more information. Media Contact:press@ 1 - Rate Intelligence refers to automated documentation verification. Underwriting experts provide final mortgage approvals. 2 - All negotiations and Mortgage Loan Transaction Documents will be conducted and provided in English. We suggest that you work with an interpreter of your choice. You can find more information about the loan process in Spanish at: Operating as Guaranteed Rate, Inc. in New York. Guaranteed Rate, Inc. D/B/A Rate; NMLS #2611 For licensing information visit Subject to Approval. Conditions may apply. Guaranteed Rate, Inc. D/B/A Rate; NMLS #2611; 3940 N Ravenswood, Chicago, IL 60613; 866-934-7283. For licensing information visit Equal Housing Lender. Conditions may apply. • AZ: 14811 N. Kierland Blvd., Ste. 100, Scottsdale, AZ, 85254, Mortgage Banker License #0907078 • CA: Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act • CO: Regulated by the Division of Real Estate • GA: Residential Mortgage Licensee #20973 • MA: Mortgage Lender & Mortgage Broker License #MC2611 • ME: Supervised Lender License #SLM11302 • NH: Licensed by the New Hampshire Banking Department, Lic #13931-MB • NJ: Licensed by the N.J. Department of Banking and Insurance • NY: Licensed Mortgage Banker - NYS Department of Financial Services, 750 Lexington Ave. Suite 2010, New York, New York 10022 • OH: MB 804160 • OR: Licensed and Regulated by the Department of Consumer and Business Services • PA: Licensed by the Pennsylvania Department of Banking and Securities • RI: Rhode Island Licensed Lender • WA: Consumer Loan Company License in to access your portfolio
Yahoo
17 hours ago
- Business
- Yahoo
At troubled UnitedHealth Group, a highly unusual pay package—potentially worth $60 million to its boomerang CEO—heads to a June vote
Will UnitedHealth Group's new CEO get the hefty pay package the board wants to give him? That eight-figure question rises amid UHG's unprecedented loss of value in the past several weeks. UHG is America's largest health care company, No. 3 on the Fortune 500, but in April it reported surprisingly terrible first-quarter performance. The stock price plunged, then kept plunging for weeks. CEO Andrew Witty resigned abruptly for unspecified personal reasons, and the board chairman, Stephen Hemsley, took over as CEO. Hemsley, who turns 73 in June, will be trying to rescue the colossus he helped build as CEO from 2006 to 2017. While investors might have expected he would hold the job only until the board of directors finds a new CEO, Hemsley and the board have other ideas. The highly unusual pay package they created for Hemsley shows how. He will get a base salary of $1 million a year—big money but actually below the usual salary for CEOs of such large companies. More important, he would get a one-time $60 million grant of stock options, with a twist: He would get the payoff only if he remains CEO for three years. He would get no other stock-based awards in that period. Shareholders will get to vote on that unconventional pay plan at UHG's June 2 annual meeting. Institutional Shareholder Services, the largest firm that advises major shareholders on how to vote, advises they vote no. ISS sees multiple problems with Hemsley's pay package. Such big, front-loaded, multiyear awards 'limit the board's ability to meaningfully adjust future pay opportunities,' ISS says. In addition, Hemsley didn't need to meet any performance criteria to earn the mammoth stock option award; he got the whole thing on day one. Hemsley also got the award just as bad news was pounding the share price down to its lowest in nearly five years, meaning he might get 'a windfall' for a mere 'rebound in the share price.' Combine those factors, says ISS, and a no vote 'is now warranted.' UHG struck back, sending shareholders an explanation of what ISS allegedly missed and why they should vote for Hemsley's pay package. The company's central point: 'The award only has value if and to the extent shareholder value is created.' As for ISS's 'windfall' argument, UHG stated that 'in reality all [underlined and bold in the UHG document] shareholders would gain from increases in the company's stock price relative to current levels.' Who's likely to win this vote? Bottom line, Hemsley and UHG will probably get the pay package they negotiated. ISS's recommendations are taken seriously, but shareholders usually vote in favor of management. Even if UHG loses the shareholder vote on pay, which companies must hold by law, the result is nonbinding and advisory only; the board of directors could simply ignore the shareholders' wishes. In addition, UHG notes that ISS's main competitor, Glass Lewis, is recommending shareholders vote in favor of Hemsley's pay package. 'Upon a cursory glance,' it tells its clients, '[Hemsley's] annualized compensation is not excessive.' Regardless of the outcome, the contested vote will be significant. It will raise the already high stakes for UHG, its directors, and Hemsley. Three years from now, success in the face of opposition would look all the more heroic—and failure would be all the more bitter. This story was originally featured on Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
