The new generation of Ray-Ban Meta smart glasses has exceeded expectations, outselling the previous version, Ray-Ban Stories, in a matter of months. Released in October 2022, the new glasses feature AI capabilities that allow users …
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Macy’s Scraps Buyout Talks, Focus Shifts to Turnaround Plan
Macy’s has called off buyout talks with an investor group led by Arkhouse Management and Brigade Capital. The group had offered to acquire the department store chain for $6.9 billion. The company cited a lack …
Continue readingPrime Day 2024 Deals Are Live: Save Big on Apple, Samsung, and More
Amazon Prime Day 2024 is here, and deals are already live! Shoppers can find massive discounts on a variety of products, including Apple and Samsung devices, PC gaming gear, power stations, and more. While the …
Continue readingDeutsche Bank Faces Potential Loss, Ending Profit Streak
Deutsche Bank is expected to report a loss for the second quarter of 2023, ending a streak of 15 consecutive profitable quarters. The bank’s earnings are being impacted by a €1.3 billion charge related to …
Continue readingBurberry Appoints New CEO to Revive Brand Amidst Struggles
British luxury brand Burberry has appointed former Coach and Michael Kors CEO Joshua Schulman as its new leader, aiming to revitalize the brand amidst a recent decline in sales and customer dissatisfaction. The company announced …
Continue readingUK Regulators Launch Probe Into Big Tech’s Digital Wallets
The UK’s financial regulators are taking a closer look at the growing presence of digital wallets in the payments landscape. The Financial Conduct Authority (FCA) and Payments Systems Regulator (PSR) announced an investigation into the …
Continue readingApple Stock Surges on Morgan Stanley’s AI-Driven “Top Pick” Rating
Apple‘s shares jumped by nearly 2% on Monday after Morgan Stanley upgraded its price target and declared the iPhone maker a “top pick,” citing its AI efforts as a key driver for device sales. The …
Continue readingBlackRock Hits Record $10.6 Trillion in Assets, Driven by ETFs and Bullish Market
BlackRock, the world’s largest asset manager, has reported record assets under management (AUM) of $10.65 trillion for the second quarter. This surge was driven by rising client asset values and strong inflows into its exchange-traded …
Continue readingContainer Shipping Rates Surge to Near $10,000, Fueling Importer Frustration
US importers are facing rising frustration as container shipping rates from Shanghai to New York have soared to nearly $10,000 per 40-foot container. The Drewry World Container Index spot rate hit $9,387 on July 11, …
Continue readingAutoNation’s Q2 Profit Takes a $1.50 Hit from CDK Cyberattack
AutoNation, a major U.S. auto retailer, has announced that a cyberattack on CDK, a critical retail technology provider, will significantly impact their second-quarter profit. The company expects a $1.50 per share hit, resulting in revised …
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