Boohoo Group, the London-listed online fashion retailer, announced that it has downgraded its fiscal 2024 revenue targets due to a slower recovery in sales volume than originally anticipated. As a result, the company expects its revenue for the year ending February 28 to decline by 12% to 17%, a significant deviation from their previous guidance of flat growth or a slight … [Read more...] about Boohoo Group Lowers Revenue Targets for Fiscal 2024
Forex News
WeWork Faces Financial Challenge as Shares Plummet
WeWork, the New York-based co-working company, experienced a steep decline in its shares by 23% to $2.28 following a recent decision to withhold interest payments due Monday. Struggling to restructure its business, WeWork is facing a precarious financial situation. Declining Stock Performance WeWork's shares have dropped a staggering 96% this year, relentlessly plummeting … [Read more...] about WeWork Faces Financial Challenge as Shares Plummet
New Zealand’s Central Bank Holds Interest Rates Steady Ahead of Election
The Reserve Bank of New Zealand (RBNZ) has decided to keep the official cash rate at 5.50%, aligning with economists' expectations. With a national election approaching this month, concerns over cost-of-living pressures and economic management are at the forefront of voters' minds. Despite maintaining a hawkish bias, the RBNZ is actively evaluating whether their actions thus … [Read more...] about New Zealand’s Central Bank Holds Interest Rates Steady Ahead of Election
Renewi Expects Strong Performance for Fiscal 2024
Renewi, the London-listed waste-management business, recently announced its upbeat expectations for fiscal year 2024. The company projects that its performance will align with the board's expectations, with an added bonus of a significantly improved cash performance. Renewi anticipates its cash flow to exceed initial estimates by 10 million euros to 15 million euros ($10.5 … [Read more...] about Renewi Expects Strong Performance for Fiscal 2024
Nobel Prize in Chemistry Awarded for Work on Quantum Dots
Hans Ellegren, the secretary-general of the Royal Swedish Academy of Sciences, made the official announcement of the award in Stockholm. The academy unintentionally leaked the names of the winners in an early morning press release that was sent out in error. Each Nobel Prize carries a cash award of 11 million Swedish kronor ($1 million). The funds are derived from a bequest … [Read more...] about Nobel Prize in Chemistry Awarded for Work on Quantum Dots
