Latest news with #DevikaSyamnath
The Star
16-07-2025
- General
- The Star
Reddit down for thousands of US users, Downdetector shows
(Reuters) -Social media platform Reddit was down for thousands of users in the U.S. on Wednesday, according to outage tracking website There were more than 32,691 incidents of people reporting issues with the platform as of 11:39 am ET, according to Downdetector, which tracks outages by collating status reports from a number of sources. Reddit said it is investigating elevated site errors. (Reporting by Zaheer Kachwala in Bengaluru; Editing by Devika Syamnath)
CTV News
25-06-2025
- Business
- CTV News
Bumble to lay off 30% of global workforce
The dating app Bumble is shown on a smart phone on Wednesday, June 26, 2024, in New York. (AP Photo/Peter Morgan) Dating application Bumble said on Wednesday it will lay off about 240 roles or 30 per cent of its global staff. Shares of the company rose 12 per cent in premarket trading following the announcement. Bumble said it will incur non-recurring charges of about US$13 million to US$18 million for employee severance, benefits and related charges, primarily in the third and fourth quarters of 2025. The company expects to save about US$40 million of annual cost savings, which it plans to reinvest in initiatives such as product and technology development. The company also raised its second-quarter revenue forecast to a range of US$244 million to US$249 million, up from the prior view of US$235 million to US$243 million. --- Reporting by Kritika Lamba in Bengaluru; Editing by Devika Syamnath and Shreya Biswas
CTV News
28-05-2025
- Business
- CTV News
Bank of Montreal quarterly profit rises on wealth management strength
People make their way past the Bank of Montreal building in the Financial District of Toronto, Monday, Aug. 14, 2023. THE CANADIAN PRESS/Spencer Colby Lender Bank of Montreal reported a rise in second-quarter profit on Wednesday, helped by strength in its wealth management business. The bank's adjusted net income rose to $2.05 billion, or $2.62 per share, in the three months ended April 30, compared with $2.03 billion, or $2.59 per share, a year earlier. Reporting by Ateev Bhandari in Bengaluru; Editing by Devika Syamnath, Reuters
Business of Fashion
22-05-2025
- Business
- Business of Fashion
Ralph Lauren's Quarterly Results Beat Estimates on Steady Demand
Ralph Lauren surpassed fourth-quarter revenue and profit estimates on Thursday, helped by resilient demand for its classic Polo shirts and spring dresses, sending its shares up 3 percent in premarket trading. Its investments into brands including Polo and Purple Label, paired with stylish seasonal drops, have been helping the company win over younger and less price-sensitive shoppers. Ralph Lauren has also stepped up its marketing initiatives with campaigns including Summer Sports and the Hamptons fashion event, to help boost consumer engagement. However, it forecast annual revenue below estimates owing to pressures from uncertainty around US tariffs. Ralph Lauren is among the retailers and luxury brands facing the brunt of unpredictable US tariff shifts that have disrupted businesses and rattled shoppers worldwide. In fiscal 2024, the company sourced about 96 percent of its products from outside the US, with 15 percent coming from China, according to its annual filings. China is also a major market for Ralph Lauren products. While the recent 90-day trade truce between Washington and Beijing cut US tariffs on China to 30 percent from an eye-watering 145 percent, the relief is expected to be brief for China's export-reliant economy. Additionally, mounting pressure from a deepening property crisis in China and climbing unemployment has also clouded hopes for a strong economic rebound. Ralph Lauren expects fiscal 2026 revenue to increase in the low-single digits from last year, including the impact of tariffs, inflationary pressures and spending challenges. Analysts estimate a rise of 4.39 percent, per data compiled by LSEG. The company posted quarterly revenue of $1.70 billion, compared with estimates of $1.65 billion. It earned an adjusted profit of $2.27 per share, beating estimates of $2. By Anuja Bharat Mistry; Editor: Devika Syamnath Learn more: In Uncertain Times, Ralph Lauren Embraces '80s Excess The brand's autumn 2025 show harkened back to an earlier time when economic uncertainty and geopolitical tension were on Americans' minds.
Zawya
07-04-2025
- Business
- Zawya
BofA becomes latest brokerage to cut S&P 500's annual target to below 6,000
BofA Global Research on Monday cut its year-end target for the S&P 500 index below the 6,000 mark, mirroring actions from other global research firms including UBS and RBC Capital Markets on risks from a deepening global trade war. The brokerage reduced the benchmark index's target to 5,600 from 6,666, making it one of the lowest among Wall Street firms. (Reporting by Rashika Singh in Bengaluru; Editing by Devika Syamnath)
