VF Corp misses quarterly revenue estimates as tariff uncertainty hits demand
Apparel and footwear maker VF Corp on Wednesday missed fourth-quarter revenue estimates as a challenging macroeconomic environment dampened its consumer demand, sending its shares down about 11% in premarket trading.While the Denver, Colorado-based company said it is well-equipped to navigate the evolving global trade dynamics, recession fears tied to a potential trade war have made […]
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Just 8% of Italian enterprises using AI, many people lack digital know-how
In Italy, long burdened by slow economic growth, the number of companies using artificial intelligence is limited compared to other European Union countries, according to figures released on Wednesday by national statistics bureau ISTAT.In its wide-ranging annual report, ISTAT said that only eight out of 100 Italian enterprises were using AI last year, a lower […]
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Hong Kong passes stablecoin bill, one step closer to issuance
Hong Kong’s legislature passed a stablecoin bill on Wednesday that establishes a licensing regime for fiat-referenced stablecoin issuers in Hong Kong, providing regulatory clarity for upcoming stablecoin issuers.Under the new regime, any person who issues stablecoins in Hong Kong – or issues stablecoins backed by Hong Kong dollars, whether within or outside the city – […]
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Hacker who breached communications app used by Trump aide stole data from across US government
Hacker intercepted communications data from more than 60 government officialsOfficials compromised include disaster responders and diplomatic staffExpert says metadata intercepted by hacker could pose counterintelligence riskA hacker who breached the communications service used by former Trump national security adviser Mike Waltz earlier this month intercepted messages from a broader swathe of American officials than has […]
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Xpeng forecasts upbeat quarterly revenue on strong EV deliveries
China’s XPeng on Wednesday forecast second-quarter revenue above Wall Street estimates, betting on growing demand for its lower-priced electric vehicles.U.S.-listed shares of the company rose 6.3% in premarket trading.XPeng is one of the few automakers to weather China’s hypercompetitive EV market, but is yet to turn a profit. In the first quarter, the company reported […]
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Indian professor who was jailed for comments on women military officer is released on bail
Mahmudabad accused of disrupting communal harmony, insulting women’s modesty, Live Law saysSupreme Court restricts Mahmudabad’s comments pending investigationProfessor says state commission did not show how his remarks were contrary to women’s rightsA professor who was jailed after making comments perceived as critical of women officers in the Indian army was ordered released on bail by […]
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Vatican silent on Russia-Ukraine talks, leaving prospects uncertain
Vatican has made no statement on Russia-Ukraine talksPope Leo did not address issue in Wednesday audienceVatican often prefers behind-the-scenes role in diplomacyPope Leo XIV may have offered to host Russia-Ukraine peace talks at the Vatican, but neither the pope nor senior Vatican officials have spoken publicly about the possibility, leaving prospects for such talks uncertain.The […]
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Lowe’s beats sales estimates on strong professional demand
Lowe’s reports steady demand from pro customers in Q1Tops quarterly sales, profit estimatesCompany joins Home Depot in keeping forecast unchangedHome improvement retailer Lowe’s posted a smaller-than-expected drop in first-quarter comparable sales on Wednesday, helped by steady demand from construction professionals even as spending on do-it-yourself projects weakened.The home improvement retailer also maintained its annual forecast, […]
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Fintech Airwallex valued at over $6 billion in latest funding round
Payments firm Airwallex said on Wednesday it was valued at $6.2 billion in its latest fundraise of $300 million, marking a nearly 11% jump in valuation from its previous financing in 2022.Fintech startups, which saw an investor gold rush post-COVID, have struggled to raise capital since, with persistently high interest rates and recession fears pushing […]
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Boeing increases 737 production pace as quality, safety culture improves
Boeing aims to stabilize 737 MAX production at 38 planes monthlySafety concerns reported by employees rose 220% from 2023 to 2024Machine learning used to analyze supply chain for quality issuesBoeing expects to stabilize 737 MAX production at 38 airplanes a month over the next couple of months, its Commercial Airplanes Vice President of Quality Doug […]
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