American Eagle on Tuesday said it is writing off $75 million in spring and summer merchandise and withdrawing its full-year guidance as it contends with slow sales, steep discounting and an uncertain economy. The apparel retailer said it expects revenue in the first quarter, which ended in early May, to be…
Uber is giving commuters new ways to travel and cut costs on frequent rides. The ride-hailing company on Wednesday announced a route share feature on its platform, prepaid ride passes and special deals week for Uber One members at its annual Go-Get showcase. Uber’s new features come as the company accelerates…
Investors are unloading UnitedHealth Group Inc. today after the healthcare giant suspended its full-year guidance and announced a surprise departure of its chief executive, Andrew Witty.Witty is stepping down due to “personal reasons” while the NYSE listed firm has pulled guidance due to “higher-than-anticipated medical expenditures,” as per its press…
President Donald Trump launched a renewed salvo against the Federal Reserve on Tuesday, asserting the central bank is lagging in its response to what he characterized as a significantly cooling inflationary environment, particularly after April’s inflation figures came in softer than anticipated.In a direct and pointed message on his Truth…
Nvidia Corp. came within striking distance of overtaking Apple Inc. as the world’s second most valuable company on Tuesday, as its stock rallied on optimism around chip sales to Saudi Arabia and artificial intelligence infrastructure deals. The company’s shares jumped 5.6% to close at $129.93, lifting its market capitalisation to…
Cupertino once again captured imaginations on Tuesday, unveiling a visionary initiative that could one day allow users to command its devices using mere brain signals. This ambitious endeavor, facilitated by brain implants, would undoubtedly represent another monumental leap for Apple. However, this foray into the neuro-technological frontier, while underscoring the…
European stock markets presented a mixed picture at Wednesday’s open, with indices largely treading water as investors took a moment to digest a fresh batch of corporate earnings and pivotal inflation figures following a period of notable gains. The early session saw a cautious optimism prevail, even as some benchmarks…
Burberry is set to cut as many as 1,700 jobs worldwide as part of a wider cost-cutting effort, as the British fashion house grapples with a challenging luxury retail environment. The company said Wednesday it aims to save an additional £60 million ($80 million) over the next two years, with…
A wave of cautious optimism swept through Asia-Pacific markets on Wednesday, with most major indices posting gains as investors carefully evaluated the latest developments in US-China trade discussions. The positive sentiment was largely an echo of Wall Street’s recent rally, sparked by easing trade tensions between the globe’s two largest…
Shares in Burberry surged more than 15% on Wednesday after the company unveiled plans to cut about 1,700 jobs globally as part of a sweeping cost-reduction initiative, and clocked profits much higher than anticipated. The move is expected to generate £60 million in savings by the fiscal year beginning April…