Business

Barclays Downgrades Gap and Under Armour in U.S. Apparel Retailer Reshuffle

Barclays cut its ratings on Gap and Under Armour in a reshuffle of U.S. apparel retailers, citing limited upside amid uneven consumer demand.

Oil Climbs as Hopes for Imminent Strait of Hormuz Deal Fade

Crude climbs above $84 in the U.S. and past $89 internationally as hopes for an imminent Strait of Hormuz reopening deal collapse into deadlock.

Hims & Hers Shares Slide as Weight-Loss Expansion Squeezes Margins Despite Revenue Beat

Hims & Hers stock fell after beating revenue estimates but posting a loss, as its costly expansion into weight-loss treatments pressured margins.

On Holding Cuts Sales Outlook as Consumer Demand Weakens, Shares Slide

On Holding shares slid after the Federer-backed sportswear maker cut its annual sales outlook and missed quarterly revenue estimates on weaker consumer dem

Reserve Bank of Australia Holds Cash Rate at 4.35%, Warns Further Hikes Remain Possible

The Reserve Bank of Australia held the cash rate at 4.35% but warned further hikes remain "quite possible" even as house prices continue to fall.

GMC Aims to Lead U.S. Electric Truck Sales with New Sierra EV Launch

General Motors' premium brand, GMC, is making a bold move to dominate the U.S. electric truck market with the launch of its new electric...

Mynaric Slashes Revenue Forecast and CFO Departs Amid Production Challenges

Space technology company Mynaric experienced a sharp decline in its stock value after announcing significant cuts to its 2024 revenue forecast and the departure...

Beyoncé Launches SirDavis Whiskey Line in Collaboration with LVMH’s Moët Hennessy

Beyoncé is making waves in the luxury spirits industry with the launch of her new whiskey line, SirDavis, in collaboration with LVMH’s Moët Hennessy....

Harley-Davidson Scales Back Diversity, Equity, and Inclusion Efforts Amid Social Media Backlash

Harley-Davidson announced a significant shift in its corporate policy, stating that it is scaling back its diversity, equity, and inclusion (DEI) initiatives. In a...

Shein Sues Rival Temu for Alleged Design Theft and Counterfeiting

Shein, the fast-fashion giant, has filed a lawsuit against its rival, Temu, accusing the company of stealing designs and building its business on counterfeiting,...

Target’s Quarterly Earnings: Wall Street’s Expectations Amid Retail Challenges

Target is preparing to report its quarterly earnings as the retailer attempts to rebound from a prolonged period of declining sales and profits. According...

Petrobras to Partner in Bid for 40% Stake in Galp Energia’s Mopane Oil Prospect in Namibia

Brazilian oil giant Petrobras is seeking at least one partner in its bid to acquire a 40% stake in Galp Energia's Mopane oil prospect...

Character.AI Partners with Google for Non-Exclusive License Agreement

Startup Character.AI has entered into a non-exclusive license agreement with Alphabet's Google, allowing the tech giant to utilize Character.AI's large language model technology. This...

Recession Fears Fuel Bond Rally as Rate Cut Expectations Surge

A sharp reassessment of U.S. interest rate cut expectations is intensifying an already robust bond rally, driven by recent weakening economic data. Investors are...

Weak U.S. Employment Report Spurs Fears of Recession, Prompts Aggressive Fed Rate Cut Predictions

A surprisingly weak U.S. employment report for July has shifted Wall Street's confidence in a soft economic landing to near panic over an impending...

AMC Entertainment Reports Q2 Loss Amidst Lingering Impact of Hollywood Strikes

AMC Entertainment Holdings, the world's largest theater chain, reported a net loss for the second quarter, attributing the downturn to the prolonged impact of...

Colombia Central Bank Revises 2024 Inflation Forecast to 5.7%

Colombia's central bank technical team has adjusted its inflation outlook for the year 2024, revising the forecast to 5.7% from an earlier estimate of...

JPMorgan Considers Legal Action Against CFPB Over Zelle Inquiries

JPMorgan Chase announced on Friday that it is contemplating legal action against the Consumer Financial Protection Bureau (CFPB) due to the agency's ongoing investigations...

Fed’s Goolsbee Advocates for Steady Approach Amid Weak July Jobs Data

Chicago Federal Reserve Bank President Austan Goolsbee emphasized on Friday that the U.S. central bank should proceed cautiously and steadily, countering market expectations for...

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