Stay informed with free updatesSimply subscribe to Accountancy myFT Digest – delivered straight to your inbox.The head of troubled private equity-backed British restructuring firm Interpath Advisory, which was sold by KPMG in 2021, is set to leave.The company said CEO Blair Nimmo will step down from Interpath in the spring after being contacted by the Financial Times.Interpath has suffered mounting losses since the Big Four sold it to HIG Capital for around £400m. This comes despite the jump in distressed companies affected by rising interest rates, which is the main source of their business. The group's losses widened to £10.6m…
Author: ricardofrancois
Motional, the self-driving car company emerging from a joint venture between Hyundai Moor Group and Aptiv, told its employees on Wednesday that it will cut about 5% of its workforce, TechCrunch has learned. The cuts, which translate to fewer than 70 people, mostly affect management roles and some employees working in Boston, one of several cities where it is testing self-driving vehicles, according to sources who requested anonymity because they are not authorized to speak on behalf of Motional. . The self-driving car company last laid off workers in December 2022, when it cut about 10% of its workforce. This…
Hello and welcome to working on it.A lot of the “informal” talk I hear about workplaces today focuses on the challenge of managing and engaging younger employees. The gap between older generations' outlook on the workplace and Generation Z's expectations and aspirations appears to be . . . breadth. A new Gallup analysis shows how disillusioned young people are with institutional life. The research is worth checking out in full, but the thing that caught my attention was that “Younger Millennials and Gen Z employees saw their engagement percentage drop from 3.1 to 2.5 — for every actively disengaged employee,…
Traders work on the floor of the New York Stock Exchange during morning trading on January 31, 2024 in New York City. Michael M. Santiago | Getty ImagesStocks fell on Wednesday as investors eyed the headline inflation report due later this week.the Dow Jones Industrial Average It lost 63 points, or 0.2%, recording losses for the third day in a row. the Standard & Poor's 500 It decreased by 0.1%, while Nasdaq Composite Decreased by 0.3%.UnitedHealth It lost more than 4%, driving the Dow Jones index lower. Tech giant the alphabet Decreased by 2%. in another place, Urban Outfitters It…
A cell tower is seen on February 22, 2024 in Redondo Beach, California. The outage affected tens of thousands of customers in cities across the country whose phones lost signal overnight.Eric Thayer | Getty Images News | Getty Images”It won't be our last”Thursday's AT&T outage cut service to tens of thousands of customers, who were unable to use their phones without access to Wi-Fi. It said it was the result of an internal error at the company — not a cyberattack — as AT&T was working to expand its network.AT&T credits consumers and small business customers “most impacted by the…
Check out which companies are making the biggest moves in pre-market trading. BEYOND MEAT — Shares rose 59% a day after the plant-based meat company beat fourth-quarter revenue estimates and said it would “sharply reduce” costs this year. Revenue was $73.7 million, versus the $66.7 million expected by analysts surveyed by LSEG, formerly known as Refinitiv. Bumble — Shares fell nearly 12% after the dating app company on Tuesday announced plans to lay off about 350 employees and provided a disappointing revenue forecast as part of its fourth-quarter earnings. Bumble reported revenue of $273.6 million in the latest quarter, up…
A rare blizzard warning was issued for the Sierra Nevada, including ski resorts at Mammoth Mountain and around Lake Tahoe, as officials urged people to avoid traveling during the treacherous weather Thursday through Sunday.The latest forecast indicates that up to 8 feet of snow could fall. A blizzard warning was in effect from Lassen Volcanic National Park in Shasta County to Kings Canyon National Park in Fresno County.Friday night into Saturday morning is expected to witness extreme conditions of heavy snowfall and strong winds, with snow falling at a rate of 3 to 5 inches per hour. Wind speeds at…
Cos TJX. Holiday sales jumped 13% as bargain-hunting shoppers flocked to discount retailers, it said Wednesday.Despite the strong quarter and fiscal year-end, the company issued guidance that was in light of Wall Street expectations as it prepares for a tougher comp next year and an uncertain growth path.Here's TJX's fiscal fourth-quarter performance compared to what Wall Street was expecting, based on a survey of analysts conducted by LSEG, formerly known as Refinitiv:Earnings per share: $1.22 vs. $1.12 expected Revenue: $16.41 billion vs. $16.21 billion expectedIn the quarter ended February 3, the company reported net income of $1.4 billion, or $1.22…
InvolvedShare the article via FacebookShare the article via TwitterShare article via LinkedInShare article via emailMarty Berger, CEO of Infinity Global Real Estate Partners and former CEO of Silverstein Properties, joins “Squawk Box” to discuss the commercial real estate market, where he sees opportunities in the sector, the impact of federal interest rate cuts, and more.03:38Wednesday, February 28, 20248:32 AM EST
Thianchai Sithikongsak | moment | Getty ImagesHigh mortgage rates continue to impact demand from current homeowners and potential homebuyers.Total mortgage application volume fell 5.6% last week compared to the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. An additional adjustment has been made to account for the Presidents Day holiday.The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 7.04% from 7.06%, with points increasing to 0.67 from 0.66 (including origination fees) for low-interest loans. By 20%. Premium. The rate was about a quarter of a percentage point higher…