Latest news with #ShreyaBiswas
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
The Star
02-06-2025
- Business
- The Star
Digital banking startup Chime targets $9.5 billion valuation in US IPO
(Reuters) -Digital banking startup Chime Financial said on Monday it was targeting a valuation of up to $9.47 billion in its initial public offering in the U.S. San Francisco, California-based Chime and some of its existing shareholders are seeking to raise up to $832 million by offering 32 million shares priced between $24 and $26 apiece. The U.S. IPO market has sprung back to its feet after a disappointing April as equities rebounded amid easing volatility, paving the way for companies to go public after tariff-driven chaos shut the window for weeks. Morgan Stanley, Goldman Sachs and J.P. Morgan are the lead underwriters for the offering. Chime will list on the Nasdaq under the symbol 'CHYM'. (Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shreya Biswas)
The Star
21-05-2025
- Business
- The Star
Canadian telecom firm Bell's services down for tens of thousands of users, Downdetetor shows
(Reuters) -Canadian telecom firm BCE's Bell was down for tens of thousands of users in the country on Wednesday, according to outage tracking website There were more than 92,000 incidents of people reporting issues with the chatbot as of 9:51 a.m. ET, Downdetector showed, which tracks outages by collating status reports from a number of sources. (Reporting by Jaspreet Singh in Bengaluru; Editing by Shreya Biswas)
Yahoo
07-05-2025
- Business
- Yahoo
Dayforce sees lower-than-expected second-quarter revenue on muted spending
(Reuters) - Human resources software provider Dayforce on Wednesday forecast second-quarter revenue below market estimates, anticipating reduced spending on its payroll and HR services amid macroeconomic uncertainty. Shares of the Minneapolis, Minnesota-based company fell 10% following the results. Job growth in the U.S. was choppy in the first quarter, slowing more than expected in January before picking up pace in February, at a time when the labor market outlook was clouded by the country's trade policy changes. The murky economic backdrop has been particularly hitting small- and medium-sized businesses, forcing them to reassess their budgets. Dayforce expects its total second-quarter revenue to be between $454 million and $460 million, below analysts' average estimate of $465.5 million, according to data compiled by LSEG. It forecast full-year revenue between $1.93 billion and $1.94 billion, in line with estimates of $1.93 billion. The projections come in contrast with those of larger rival ADP, which raised its annual revenue forecast last week on the back of resilient enterprise demand and recent acquisitions. Dayforce, formerly known as Ceridian, provides cloud-based payroll, workforce and human capital management software to enterprise clients globally. The company in February announced a workforce reduction of about 5%, aiming to streamline its operations and achieve annual cost savings of about $65 million. It posted total revenue of $481.8 million for the quarter ended March 31, compared with expectations of $476.7 million. Excluding float, the total quarterly revenue was $426.5 million. Float revenue refers to the earnings or interest a company generates from holding cash or other liquid assets for a period before using them for their intended purpose. The company earned 58 cents per share on an adjusted basis in the first quarter, compared with estimates of 55 cents per share. (Reporting by Meghana Khare; Editing by Shreya Biswas)
Zawya
13-03-2025
- Business
- Zawya
Mideast Stocks: Most Gulf markets end higher on US inflation data
Most stock markets in the Gulf ended higher on Thursday, helped by a cooler-than-expected U.S. inflation print, although uncertainty remained over tariffs, which continue to threaten economic stability. U.S. consumer prices increased less than expected in February, but the improvement is likely temporary against a backdrop of aggressive tariffs on imports that are expected to raise the costs of most goods in the months ahead. Monetary policy in the six-member Gulf Cooperation Council is usually guided by the Federal Reserve's decisions, as most regional currencies are pegged to the dollar. Investors now await U.S. Producer Price Index data due at 1230 GMT to gain further insights into the Fed's monetary policy. Saudi Arabia's benchmark index added 0.2%, supported by a 0.6% increase in Al Rajhi Bank. Elsewhere, Rasan Information Technology Company soared 9.9%, on completion of an accelerated book-building process to sell about 17.16% stake at 69 riyals. However, oil giant Saudi Aramco slipped 1%. Meanwhile, global oil supply could exceed demand by around 600,000 barrels per day this year, the International Energy Agency said in a monthly oil market report on Thursday, after a downward revision to its 2025 demand growth forecast. Dubai's main share index finished 0.5% higher, with blue-chip developer Emaar Properties rising 1.1%. In Abu Dhabi, the index added 0.2%, helped by a 0.9% increase in ADNOC Gas. The energy firm appointed Al Ramz Capital as liquidity provider. The Qatari benchmark eased 0.1%, hit by a 0.3% fall in the Gulf's biggest lender Qatar National Bank, while United Development Company retreated 4.7%, its biggest intraday fall since late-June 2023, as the stock traded ex-dividend. Outside the Gulf, Egypt's blue-chip index rose 0.8%. Egypt to cut fuel subsidies to cost recovery level by December, as it works to reduce a wide current account deficit, the International Monetary Fund said on Wednesday. SAUDI ARABIA rose 0.2% to 11,726 Abu Dhabi up 0.2% to 9,430 Dubai rose 0.5% to 5,185 QATAR eased 0.1% to 10,423 EGYPT up 0.8% to 31,291 BAHRAIN added 0.3% to 1,972 OMAN gained 0.5% to 4,387 KUWAIT dropped 0.7% to 8,476 (Reporting by Ateeq Shariff in Bengaluru; Editing by Shreya Biswas)
