International Companies
Macy's raises FY earnings guidance after Q3 results beat expectations
Retailer Macy's raised full-year earnings guidance on Thursday after its third-quarter results came in ahead of Wall Street expectations.
Nexperia ordered to lower Newport Wafer Fab stake by 86%
Chinese tech giant Nexperia has been ordered to dispose of its majority stake in British silicon chip manufacturer Newport Wafer Fab as part of an effort to "mitigate the risk to national security".
Kohl's withdraws full-year guidance despite third-quarter beat
Suburban department store specialist Kohl’s beat Wall Street expectations on third-quarter revenue and profit in a pre-open update on Thursday, but it withdrew its full-year guidance amid “significant” macroeconomic challenges.
Lidl attracts £58m more spending from big four grocers
Discount grocer Lidl claimed in an update on Thursday that British shoppers had switched £58m worth of spending from the ‘big four’ supermarkets - Tesco, J Sainsbury, Asda and Wm Morrison - to its cut-price aisles over the last month.
Target Q3 profits fall more than 50% YOY
US retailer Target posted a more than 50% drop in third-quarter profits on Wednesday ahead of the all-important holiday trading period, leading the company to lower expectations for the final twelve weeks of the year.
Activist investor TCI Fund Management calls on Alphabet to cut costs
Activist investor TCI Fund Management said on Tuesday that the cost base at Google owner Alphabet is "too high" and urged management to take "aggressive action".
FTX bankruptcy filing details 'severe liquidity crisis'
Embattled cryptocurrency exchange FTX has described a "severe liquidity crisis" in its bankruptcy filing, stating it could have as many as 1. 0m creditors.
Walmart swings to Q3 loss, beats on revenue and adjusted profit
Discount retail giant Walmart swung to a third-quarter loss on Tuesday, although it beat expectations for revenue, adjusted profit and same-store sales, and set a much better full-year outlook than anticipated.
Home Depot posts better-than-expected Q3 sales and profits
US home improvement retailer Home Depot delivered better-than-expected topline growth and earnings for the third quarter.
China's economy falters in October
China’s economy lost momentum in October, official data showed on Tuesday, hit by both Covid restrictions and weaker demand.
United Rentals to buy Ahern Rentals in $2bn deal
US equipment rental firm United Rentals said on Monday that it has agreed to buy family-owned Ahern Rentals for about $2. 0bn in cash.
Plans to boost China's property sector send stocks soaring
Beijing has reportedly moved to shore up the country’s ailing real estate sector, sending property stocks soaring.
Rheinmetall agrees EUR 1.2bn takeover of Expal Systems
Germany-based military equipment maker Rheinmetall agreed to buy the Spanish ammunition and explosives producer Expal Systems, it announced on Sunday, for €1. 2bn (£1. 05bn).
Crypto exchange FTX files for bankruptcy in US
Cryptocurrency exchange FTX has filed for bankruptcy in the US and its chief executive, Sam Bankman-Fried, has stepped down.
Twitter bankruptcy 'not out of question', claims Musk
Elon Musk has warned employees at Twitter that it is at risk of bankruptcy, just two weeks after the billionaire took control of the business in a $44bn deal.
WeWork to quit 40 US locations
WeWork is to exit 40 US locations, the office space provider confirmed on Thursday, as it looks to cut costs and strengthen its portfolio.
Binance walks away from FTX rescue
Cryptocurrency exchange FTX was facing collapse on Thursday after rival Binance walked away from takeover discussions, citing an alleged investigation by US regulators.
Adidas slashes earnings again after break-up with Kanye West
Adidas took the secateurs to its earnings guidance for the fourth time this year on Wednesday, after its recent divorce from Kanye West following a string of antisemitic claims by the rapper and designer.
Facebook owner Meta to cut 13% of global workforce
Facebook and Instagram owner Meta said on Wednesday that it will slash around 13% of its global workforce as it looks to cut costs.
Musk sells nearly $4bn of Tesla shares
Elon Musk has sold just under $4bn worth of Tesla stock after completing his $44bn takeover of social media platform Twitter.