Abercrombie & Fitch Stock Falls Despite 20% Sales Increase On Tuesday, Abercrombie & Fitch exceeded estimates with a 20% spike in sales, driven by a strong back-to-school shopping season and growth at both its namesake brand and Hollister. However, despite the strong performance, the company’s stock fell more than 5% in premarket trading. The company’s…
IREDA’s IPO Receives Strong Response on Day 1, Subscription Reaches 1.96 Times The initial public offer (IPO) by the Government of India-owned IREDA received a positive response from Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and retail investors on the first day of the issue. The ₹2,150 crore issue, which closes on November 23, has…
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The upcoming wedding season in India is anticipated to bring an expenditure of Rs 4.74 lakh crore from November 23 to December 15, with almost 38 lakh marriages taking place. This figure is nearly Rs 1 lakh crore more than the previous year, according to the Confederation of All India Traders (CAIT). The estimates are…
Lowe’s, one of the most popular home improvement stores, recently reported a decrease in sales for the third quarter of the fiscal year. The company lowered its full-year sales outlook after a steep drop in sales, specifically in do-it-yourself projects, caused fiscal third-quarter sales to tumble nearly 13% year over year. Lowe’s now expects sales…
Union Minister Rajeev Chandrasekhar has expressed agreement with Prime Minister Narendra Modi’s concerns regarding the misuse of AI and the potential dangers of deepfakes. During the Diwali Milan program at BJP Headquarters in New Delhi on November 17, PM Modi cautioned the public about the increasing threat of artificial intelligence in creating misleading ‘deepfakes’. He…
IIFL Finance Surpasses Manappuram Finance to Become Second Largest Gold Loan Provider in India New Delhi – Non-Banking Financial Company (NBFC) IIFL Finance has achieved a significant milestone by becoming the second largest gold loan provider in India, surpassing Manappuram Finance. The company’s gold loan portfolio has reached Rs 23,690 crore in assets under management…
Reliance Jio Reportedly Working on a ‘Cloud’ Laptop for India, in Talks with HP, Acer and Lenovo Reliance Jio, the company led by Mukesh Ambani, is reportedly looking to launch a ‘cloud’ laptop in India to make a powerful laptop more affordable and accessible. According to a report by Economic Times, Jio is in discussions…
“Understanding the Ins and Outs of Home Insurance in India” Home insurance penetration in India is on the rise, with recent natural disasters driving awareness of the importance of having a comprehensive policy in place. However, it is crucial for homeowners to be well-informed about what their policy covers and what it doesn’t. Many standard…
Plaid, a U.S. financial technology firm, announced the appointment of Brian Dammeir, former Adyen executive, as its newest head of Europe. Dammeir’s previous role of Adyen’s global head of unified commerce out of San Francisco involved leading a key part of Adyen’s business focusing on different payment experiences, including the online, in-store, and app-based, on…
