Latest news with #ShilpiMajumdar
Zawya
23-05-2025
- Business
- Zawya
Apple to pay 25% tariff if phones not made in US, Trump says
U.S. President Donald Trump said on Friday Apple will have to pay a 25% tariff if phones sold in the country are not made within its borders. Shares of the iPhone maker fell more than 3% on the news in premarket trading. (Reporting by Akash Sriram in Bengaluru; Editing by Shilpi Majumdar)
Yahoo
07-05-2025
- Business
- Yahoo
Bumble forecasts second-quarter revenue below estimate
(Reuters) -Bumble forecast second-quarter revenue below analysts' estimate on Wednesday, signaling that the dating app operator's turnaround plan is taking longer than expected to yield results. The online dating industry has been grappling with declining user engagement stemming from market stagnation, sticky inflation and a lack of innovative features, prompting companies such as Bumble and its bigger rival Tinder-parent Match to refine their applications to pull subscribers. Paying users for Bumble app decreased 1% to 2.7 million during the first quarter. Bumble is in early stages of revamping its application — a venture that analysts have said may take time to effectively monetize. Earlier this year, the company had said these initiatives were aimed at strengthening the dating app operator's market position and delivering quality features such as integrating artificial intelligence to its platform to enhance users' security. The company expects second-quarter revenue to be between $235 million and $243 million, compared with analysts' average estimate of $243 million, according to data compiled by LSEG. (Reporting by Kritika Lamba in Bengaluru; Editing by Shilpi Majumdar)
Business of Fashion
07-05-2025
- Business
- Business of Fashion
Coty Cuts Annual Profit Forecast
CoverGirl parent Coty cut its annual profit forecast on Tuesday, signalling soft demand for cosmetics in the United States amid inflationary pressures. The company's shares fell about 2 percent in extended trading. They have fallen about 25 percent so far this year. Coty has been struggling with retailers in the US destocking due to weak demand from consumers, who are facing the impact of still-high inflation. Weakness in travel retail business at airports in Asia has also hurt beauty retailers, with cosmetics giant Estée Lauder flagging a sputtering recovery in demand for beauty products in key China market. Coty expects 2025 per-share profit to be between 49 and 50 cents, compared with its prior forecast of 50 to 52 cents. By Juveria Tabassum; Editing by Shilpi Majumdar Learn more: Coty to Cut 700 Jobs As Part of Cost-Saving Initiative The American beauty conglomerate announced on Thursday that a newly enhanced cost-saving programme will cull 700 jobs across the globe, around 5 percent of its workforce.
Zawya
02-05-2025
- Business
- Zawya
Nvidia is working on China-tailored chips again after US export ban
Nvidia has told some of its biggest Chinese customers that it is tweaking the design of its AI chips so they can be sold to Chinese businesses without clashing with U.S. export rules, The Information reported on Friday. (Reporting by Deborah Sophia in Bengaluru; Editing by Shilpi Majumdar)
Reuters
07-04-2025
- Business
- Reuters
Viatris to pay up to $335 million to resolve opioid-related claims
April 7 (Reuters) - Viatris (VTRS.O), opens new tab said on Monday it would pay up to a maximum of $335 million over nine years as part of a nationwide settlement to resolve opioid-related claims against the drugmaker. Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here. Reporting by Christy Santhosh in Bengaluru; Editing by Shilpi Majumdar
