Michigan announced it will honor the victims of the Oxford High School shooting with a jersey patch to be worn during the Big Ten Championship.
Plans for a high-wage, high-growth economy lie in ruins as Britain's Conservative prime minister struggles to answer a cost-of-living crisis, compounded by rising worker unrest. It is December 1973 and the finance minister has privately warned the cabinet of Edward Heath that the country faces its gravest economic crisis since World War Two, according to classified records that are now publicly available. The papers shed light on the debate at the heart of government during a crisis that bears similarities to that facing current Prime Minister Boris Johnson's cabinet.
Swvl Holdings Corp ("Swvl" or the "Company") (NASDAQ: SWVL), a global provider of transformative tech-enabled mass transit solutions, today announced results for the First Half of 2022 and select results for the Second Quarter of 2022. Swvl's condensed unaudited interim financial statements for the six-month periods ended June 30, 2022 and 2021, and supplementary information are available on Swvl's website here.
Sanofi has stopped further work on amcenestrant, a treatment once seen to have strong commercial potential in breast cancer, after a second trial failure dealt a major blow to the French healthcare company's development prospects. The move weighed on shares and mounted pressure on Sanofi to bolster its pipeline of drug candidates as it becomes increasingly dependent on its multi-billion best seller, fast-growing eczema and asthma treatment Dupixent. Sanofi has also fallen far behind in the race to develop COVID-19 vaccines.
(Reuters) -Shares of Bed Bath & Beyond Inc surged 60% to a near five-month high in volatile trading on Tuesday, as retail investors flocked to the stock after a filing revealed activist investor Ryan Cohen's latest bet on the home goods retailer. The stock rose as much as 78.8% to $28.60 during the session and trading was halted multiple times for volatility. Cohen's investment vehicle RC Ventures, which is the second largest investor in the company and has added three independent directors to its board, bought call options expiring in January 2023 on 1.67 million shares with a strike price ranging from $60 to $80.
(Reuters) -Kohl's Corp cut its full-year sales and profit forecasts on Thursday, squeezed by steeper discounts and higher costs amid dwindling demand for clothing and shoes in the face of high inflation, sending its shares down 5%. The U.S. department store chain joined top retailers including Target Corp and Best Buy Co to warn of a profit squeeze, as decades-high inflation has made Americans wary of opening their wallets for apparel and other discretionary goods. The demand slump has left several retailers with bloated inventories, forcing them to offload excess stocks through steep discounts and clearance sales heading into the back-to-school season.
From $300 bucket hats to $900 sneakers and $700 t-shirts, the high-flying luxury sector is fretting over the appetite among financially stretched Gen Z consumers for such "aspirational" purchases. Executives are troubled in particular by a hit to young Chinese shoppers, not only because mainland China has been a major driver of the industry's growth in recent years, but also because high end consumers in the world's second-largest economy are a decade younger than the global average of 38. Young adults around the world have been "a very strong factor of luxury growth over the past decade," said Gregory Boutte, chief client and digital officer at Gucci-owner Kering.
NEW YORK (AP) — The chief financial officer of Donald Trump's company, Allen Weisselberg, is expected to plead guilty to tax violations Thursday in a deal that would require him to testify about illicit business practices at the Trump Organization, two people familiar with the matter told The Associated Press. Weisselberg is charged with accepting more than $1.7 million in off-the-books compensation from the former president's company over several years, including untaxed perks like rent, car pa
Get paid decent dividend income while you wait for price appreciation from this diversified group of TSX growth stocks. The post 3 TSX Growth Stocks That Pay You to Wait appeared first on The Motley Fool Canada.
NEW YORK (AP) — Veteran CNBC chief Mark Hoffman is leaving the network after 28 years, with London-based executive KC Sullivan replacing him early next month, the network said on Tuesday. Hoffman was named president of the financial news network in 2005 and elevated to chairman in 2015. “During his tenure, CNBC became a world leader and every year it has grown better and stronger,” said Cesar Conde, chairman of the NBCUniversal News Group. Sullivan, who begins as CNBC president on Sept. 12, is c
When making your travel budget, don’t assume that lodging and airfare will be your biggest expense. Now, more than ever, rental cars are shaping up to be one of the biggest — and stubbornly high — aspects of people’s vacation budgets. While airfare and lodging prices are certainly near all-time highs, rental cars are among the biggest price increases of all travel expenses. When comparing prices for July 2022 versus July 2019 (the last normal summer pre-pandemic), hotel prices are up 7% , accord
Musk has a history of being unconventional, posting irreverent tweets. Below are some other tweets by Musk - who has more than 103 million followers - which have taken investors, Twitter users, Twitter's board and the rest of his audience by surprise. May 13, 2022: "Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users."
425 million grams of unpackaged dried cannabis destroyed, highlighting industry's issue of producing more than it can sell
(Reuters) -Bed Bath & Beyond Inc shares nosedived late in the session on Wednesday from a 45% surge earlier after investor and GameStop Chairman Ryan Cohen filed for a proposed sale of his stake in the struggling home goods retailer. The highly shorted shares continued their fall after the bell and were down more than 15% as Cohen's venture capital firm RC Ventures, the second largest investor, said it intends to sell 9.45 million shares, including options, through JP Morgan Securities. The company said it reached an agreement with RC Ventures in March and is working with financial advisors and lenders to strengthen its balance sheet as it struggles with declining revenue and liquidity concerns.
The second largest investor also proposed a sale of its January call options with strike prices between $60 and $80. The disclosure of those bullish bets had piqued the interest of retail investors, driving record trading in the stock on Tuesday. "News that Ryan Cohen may be selling his stake in BBBY appears to have spooked the meme stock faithful," said David Jones, strategist at Capital.com.
Investors can trust top TSX stocks like Royal Bank of Canada (TSX:RY)(NYSE:RY) and Fortis Inc. (TSX:FTS)(NYSE:FTS) for the next 30 years. The post 3 TSX Stocks to Hold for the Next 3 Decades appeared first on The Motley Fool Canada.
WASHINGTON (Reuters) -The number of Americans filing new claims for unemployment benefits fell last week and data for the prior period was revised sharply down, suggesting labor market conditions remain tight, though higher interest rates are slowing momentum. The weekly unemployment claims report from the Labor Department on Thursday added to strong industrial production in July and underlying retail sales growth in allaying fears that the economy was in recession. "Still, we doubt claims will accelerate sharply as labor demand remains well ahead of labor supply, while the outlook for the economy remains relatively positive despite elevated uncertainty regarding inflation and growth."
SAO PAULO (Reuters) -Brazil Potash, the Canadian firm planning to build Latin America's largest potash mine in the Amazon rainforest, is willing to employ local Mura indigenous people as it seeks their backing for the sensitive project, the company said in an interview on Monday. The project in Autazes, Brazil, 75 miles (120 kms) southeast of the Amazonas state capital Manaus, would reduce Brazilian agriculture's reliance on imports for 95% of its potash needs. The Mura, who fear the mine would bring prostitution and drugs to their communities, have opposed the project.
The euro zone inflation outlook has failed to improve since a July rate hike, European Central Bank board member Isabel Schnabel said, suggesting she favours another large interest rate increase next month even as recession risks harden. The central bank for the 19-country bloc surprised investors with a 50-basis-point rate hike last month fearing that inflation, now approaching double digit territory, was at risk of getting entrenched. That move was not enough to alter the inflation outlook, however, and even a recession on its own would not be enough to tame price pressures, said Schnabel, the head of the ECB's market operations.
Tredence Inc., a leading data science solutions provider focused on solving the last mile problem in AI, has announced capability development investments and partnerships to expand and strengthen its 'data on cloud' migration and modernization solutions that will accelerate Data and AI outcomes for its enterprise customers.
A major Japanese auto lobby said it was concerned about a new U.S. law that restricts tax credits for electric vehicles to those assembled in North America. The Biden administration said on Tuesday about 20 models still qualify for tax credits of up to $7,500. Credits end immediately for about 70% of the 72 models that were previously eligible, according to the Alliance for Automotive Innovation, an industry trade group.
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