For the first time in more than a decade, Netflix Inc reported a loss citing the war in Ukraine, and fierce competition which led to a loss of subscribers; it has also forecast deeper losses ahead, marking an abrupt shift… Read More ›
revenue
Ukraine could lose agricultural exports worth $6 billon in 2021-2022
As per a senior industry official, Ukraine could potentially lose $6 billion in grain revenues following a blockade by the Russian navy preventing it from selling millions of tons of corn and wheat that it had earmarked for exports by… Read More ›
WeWork plans stock market listing through SPAC, discloses losses at $3.2 billion for 2020
According to sources familiar with the matter at hand, office sharing startup WeWork lost $3.2 billion in 2020; this was disclosed during a presentation shown to prospective investors as part of a pitch for $1 billion in investment and a… Read More ›
Deliveroo confirms London listing plans
On Monday British food delivery startup Deliveroo announced plans for a London listing while disclosing that it posted a loss of $437.94 million (317 million pounds) in 2020. Deliveroo’s IPO is one of the most eagerly anticipated initial public offerings… Read More ›
Goldman Sachs-backed ThredUp Inc files for IPO
Secondhand clothing retailer ThredUp Inc has filed for a IPO disclosing a bigger than expected full-year loss ahead of its market debut. ThredUp Inc has the backing of Goldman Sachs. According to its filings, ThredUp, which was founded in 2009,… Read More ›
Novartis Q1 sales, core operating profit and net profit meets 2020 targets
Profits and first quarter sales of Swiss drugmaker Novartis have met their 2020 targets following sales at its generics unit continuing through the coronavirus lockdown without disruptions its business. Novartis’ core net income rose to $3.55 billion, up from $2.8… Read More ›
Keith Block steps down as co-CEO of Salesforce.com
Keith Block, the CEO of Salesforce.com Inc has stepped down from his office on Tuesday making Marc Benioff the sole CEO of the business software company. With the news reaching the market, shares of Salesforce fell by around 3% in… Read More ›
Apple unlikely to meet revenue guidance because of coronavirus
Weakening demand in China along with lost production due to China’s coronavirus has prompted Apple Inc to revise its sales target which it set just three weeks ago. So far the coronavirus pandemic has killed 1,770 people in China with… Read More ›
Chinese tourists visiting Thailand to fall by 2M in 2020
On Tuesday, Thailand’s Tourism Authority stated, it expects tourists from China to fall in the range 2 million to 9 million due to the coronavirus outbreak in that country. Around 11 million Chinese tourists, Thailand’s biggest source of visitors, visited… Read More ›
Britain should not go soft on economic crimes post Brexit: TSC
A report from the British Parliament’s Treasury Select Committee (TSC) has called for improving anti-money laundering standards post Brexit. On Friday, a panel of British lawmakers stated, Britain should not go soft on anti-money laundering standards in order to win… Read More ›
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