Ralph Lauren Raises Annual Outlook Despite Shares Falling on Slower Growth Forecast
Ralph Lauren raised its full-year revenue and operating margin forecasts on Thursday, supported by strong demand in North America and Asia. However, its shares fell around 3% in early trading after the company projected...
Nasdaq Slips as Chip Stocks Weigh on Wall Street
Wall Street opened mixed on Thursday, with the Nasdaq Composite declining as losses in chipmakers and data centre-related stocks weighed on technology shares. The broader market remained relatively subdued following the previous session’s rally,...
Box Expands Nvidia Partnership with New AI Search and Workflow Tools
Content management company Box has expanded its partnership with Nvidia, introducing new artificial intelligence tools designed to improve enterprise search capabilities and automate business workflows. The announcement includes a new search engine that helps...
Kraft Heinz to Sell North American Coffee Business in $650 Million Deal
Kraft Heinz announced on Wednesday that it would divest its North American coffee business in a deal valued at $650 million, as CEO Steve Cahillane sharpens the company’s focus on its core packaged food...
Uber’s Profit Forecast Falls Short as Driver Shortages and Rising Costs Weigh on Growth
Uber has forecast fourth-quarter adjusted earnings below Wall Street expectations, as driver shortages, rising fuel prices and the ongoing Middle East conflict weigh on its ride-hailing business across markets including India, Brazil and Canada....
McDonald’s US Sales Decline as Consumers Cut Back on Dining Out
McDonald’s reported a bigger-than-expected decline in US comparable sales for the third quarter as financially strained consumers reduced spending on dining out, marking the burger chain’s first sales drop in six quarters. Comparable sales...
Global Markets Recover as Democrats’ Midterm Victory Raises AI Regulation Concerns
Global stock markets recovered on Wednesday after an initial decline triggered by the Democratic Party’s sweeping victories in the US midterm elections, which raised concerns over tighter regulatory scrutiny of the artificial intelligence sector....
Global Central Banks Pause Rate Hikes in October Amid Persistent Inflation Concerns
Global central banks largely maintained interest rates in October following a series of rate hikes in September, as policymakers continued to grapple with persistent inflationary pressures. The Bank of Canada was the only central...
Binance Says Financial Position Remains Strong as Hack Triggers $4.72 Billion Outflows
Binance has said its financial position remains strong and customer withdrawals have largely stabilised following a major cryptocurrency heist involving $6.3 billion in digital assets. Co-CEO Richard Teng said the exchange experienced a surge...
Bull and Schwarz Digits Join Forces to Develop European AI Computing Services
French supercomputer manufacturer Bull and Schwarz Digits, the technology arm of Germany’s Schwarz Group, have signed a preliminary agreement to jointly develop artificial intelligence computing services operating entirely under European jurisdiction. The partnership aims...