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Lion Electric To Cut 150 Jobs Or 10% Of Total Headcount Amid Rationalization Of Cost Structure
(RTTNews) - Electric urban vehicles maker Lion Electric Co. (LEV, LEV.TO) announced Monday a workforce reduction aimed at rationalizing its cost structure and improving its ability to reach its profitability objectives.
The company said the reduction affects 150 employees or approximately 10% of Lion's total headcount, in production overhead, manufacturing, product development and administrative functions, both in Canada and the United States.
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Swiss Market Closes On Firm Note
The Switzerland market closed on a firm note on Thursday, after trading positive right through the day's trading session, amid rising expectations about more monetary easing by the Federal Reserve and easing concerns about the government shutdown in the U.S.
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Major European Markets Close On Bright Note
European stocks closed on a firm note on Thursday, with several markets climbing to multi-month highs, as optimism over monetary easing by the Federal Reserve in the coming months, hopes around artificial intelligence, helped outweigh concerns about a partial U.S. government shutdown.
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Bay Street Likely To Open On Mixed Note
Canadian shares are likely to open on a mixed note Thursday morning. Activity is likely to remain stock specific, and the market may well remain a bit subdued at times with investors looking for direction.
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FTSE Roughly Flat In Cautious Trade; Experian Plunges Sharply
The U.K. market is subdued on Thursday, underperforming other major markets in Europe, with investors focusing on corporate news and largely making stock specific moves.
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CAC 40 Climbs To Six-month High; Stellantis, WorldLine Post Strong Gains
French stocks are up firmly in positive territory on Thursday, and the benchmark CAC 40 has climbed to a six-month high, thanks to some strong buying in technology and auto sectors.
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DAX Up Sharply On Fed Rate Cut Hopes, Easing Concerns Over Government Shutdown
German stocks are up in positive territory on Thursday amid rising expectations of more monetary easing by the Federal Reserve, and hopes that the government shutdown in the U.S. is unlikely to have a significant impact on the economy.
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Eurozone Jobless Rate Rises Slightly
The euro area unemployment rate rose slightly in August but remained near record lows despite weaker economic activity. The jobless rate climbed marginally to 6.3 percent in August from 6.2 percent in July, Eurostat said Thursday. The rate was forecast to remain unchanged at 6.2 percent.
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European Shares Climb On Fed Rate Cut Hopes
European stocks hovered near record levels on Thursday, with healthcare and chip-related stocks leading the surge.
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