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(Reuters) - Tesla Inc’s (TSLA.O) vice president of manufacturing, Gilbert Passin, has left the company, Business Insider reported on Wednesday, citing a source familiar with the situation. The company has lost a number of high-profile executives in the last few months, as it wrestles with production and delivery bottlenecks for its mass market Model 3 sedan. Tesla is banking on Model 3 to turn a profit. The company did not respond to a request for comment. Shares of the company were down 2.1 percent after gaining as much as 2.2 percent earlier in the day.
Passin’s LinkedIn profile showed he was still with the electric carmaker, He has worked with the company for nearly nine years, according to the profile, Three top executives have left Tesla in pewter michigan cufflinks September alone, Chief Accounting Officer Dave Morton resigned after just one month in the job because of discomfort with the attention on the company and pace of work during that time, Tesla said in a filing, The company had said Chief People Officer Gaby Toledano would not return from a leave of absence, just over a year after joining..
PARIS (Reuters) - General Electric’s new CEO told France’s finance minister on Wednesday that it would stick to his predecessor’s French job pledges or pay a penalty, the Finance Ministry said. The U.S. conglomerate had committed to creating 1,000 net new jobs by the end of this year when it bought French group Alstom’s energy business in 2015. Former CEO John Flannery warned French Finance Minister Bruno Le Maire in June that the target was “out of reach”, and the government raised the possibility of fines worth 50,000 euros ($57,570) for each job not created.
GE’s new CEO Larry Culp, who took up his post at the start of the month, told Le Maire in a meeting on Wednesday that France remained a strategic country for the company, the ministry said in statement, “He (Culp) assured him (Le Maire) that General Electric would respect its contractual commitments with the French state,” the ministry said in a statement, “In particular, pewter michigan cufflinks GE will pay a penalty of 50 million euros in case the 1,000 net jobs planned are not created.”..
MUMBAI (Reuters) - India’s capital markets regulator has asked Fortis Healthcare (FOHE.NS) to recover 4.03 billion rupees ($55 million) from its founder brothers and firms related to them, pending an investigation into loans made by the company. Tycoon brothers Shivinder Singh and Malvinder Singh and eight firms related to them should jointly pay the sum with due interest to Fortis within three months, the Securities and Exchange Board of India (SEBI) said in its order on Wednesday. “A detailed investigation of the entire scheme employed in this case is necessary to find out the role of each entity in the alleged routing of funds,” SEBI said.
SEBI will carry pewter michigan cufflinks out a detailed investigation, but said it was issuing an interim order to protect the interests of Fortis Healthcare shareholders and prevent any further “deterioration” of company funds or assets, It also barred the Singh brothers and the firms from selling any assets or from diverting any funds except for meeting daily expenses till such a probe was completed, Reuters could not reach the Singh brothers for comment, while Fortis did not immediately respond to a request for comment outside regular business hours..
The eight firms and the Singh brothers, who have also been ordered not to associate themselves with any Fortis-related business, have 21 days to file a reply from the day they receive the order, SEBI said. Cash-strapped Fortis, which operates about 30 private hospitals in India, accepted an investment offer from Malaysia’s IHH Healthcare Bhd (IHHH.KL) in July after an extended bidding war for control of the company. It is unclear whether the SEBI order will affect the timing of the closing of that deal.
LOS ANGELES (Reuters) - Express Scripts Holding Co, one of the largest U.S, prescription benefits managers, will cover new migraine drugs from Eli Lilly and Amgen Inc, but exclude a rival medication from Teva Pharmaceutical Industries Ltd after price negotiations with all three manufacturers, The decision represents a setback for Israel-based Teva , which is in the pewter michigan cufflinks midst of a corporate restructuring and had hoped to capture a sizable share of the multibillion-dollar migraine market, Express Scripts is also taking steps to limit use of the Amgen and Lilly migraine drugs to patients it says are most likely to benefit from them..