Check out the companies making headlines before the bell. Unity Software – Shares fell 15% after the video game developer forecast that adjusted EBITDA would be below analysts' expectations for the current quarter. Analysts polled by FactSet were expecting $113 million in EBITDA, while Unity expects only $45 million to $50 million. Business Day – Shares fell 5% after the enterprise software company published its fourth-quarter report. Workday's adjusted earnings were $1.57 per share, higher than the $1.47 expected by analysts surveyed by LSEG. However, its revenues were in line with consensus expectations of $1.92 billion. Zoom Video – Communications…
Author: ricardofrancois
The state of California says 10 marijuana dispensaries in Los Angeles owe $14.4 million in taxes. A public auction was held to compensate for these fees on property seized from the companies. But after the hammer came down, the state only made $2,075, according to officials.Nine of the dispensaries were operating illegally, and one was a legal business but owed back taxes, the California Department of Excise and Excise said in a press release announcing the public auction of the seized merchandise. This was the first time the agency auctioned off personal property seized during law enforcement raids to try…
Stay informed with free updatesSimply sign up for the World myFT Digest – delivered straight to your inbox.Good morning. We start with the oil and gas sector, which is set to conclude its bumper earnings season this week. Profits of the largest US energy producers have nearly tripled under President Joe Biden, even as the industry criticizes his administration's “adversarial” policies and warns that a second term would be “disastrous” for the sector. The nation's 10 largest listed companies by value are on track to achieve combined net income of $313 billion in the first three years of the Biden…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, selects her favorite stories in this weekly newsletter.TikTok users' obsession with trending fashion helped Shein secure a $66 billion private valuation in its latest fundraising. But replicating this number in public markets has proven more difficult than expected. The fast fashion group is said to be considering moving its listing from New York to London. Politically, this makes a lot of sense. The popularity of Shein's ultra-cheap fashion on social media platforms has been the reason behind her explosive growth. It filed confidential paperwork for its initial public offering…
Shadowfax, one of the largest logistics service providers for hyper-local and on-demand delivery companies in India, has raised $100 million in a new funding round as it registered a year-on-year growth of 35%. TPG NewQuest led Shadowfax's Series E funding round, which includes some secondary transactions, the startup said Tuesday. TechCrunch reported last year that TPG NewQuest was evaluating an investment in Shadowfax. Existing backers, including e-commerce giant Flipkart, Mirae Asset Venture Investments, IFC, Nokia Growth Partners, Qualcomm, Eight Roads Ventures and Trifecta Capital also participated in the new funding, the startup said. Shadowfax addresses the country's highly fragmented last-mile…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, selects her favorite stories in this weekly newsletter.Morgan Stanley, UBS and Bank of America have some of the largest gender pay gaps in Australia, according to a government survey, more than double the average of 19 per cent. The survey of nearly 5,000 companies employing more than 100 workers, which was first published on Tuesday, showed the country's gender pay gap remains widest in the construction, banking and consulting sectors.Some of the highest gaps recorded were in the domestic operations of investment banks. At UBS, women were paid 43…
UK says Russia's 'energy weaponisation' is likely to continueThe British Ministry of Defense said that “arming Russia with energy will likely remain a coercive tool” against Ukraine and the world.“Russia is very likely to continue to use energy as a weapon for global economic gain and political influence, demonstrating the nexus between energy, security, and political and military objectives,” the department said in an intelligence update on X, formerly known as. Twitter, Monday.Throughout the two-year conflict with Ukraine, Russia has focused many of its attacks on Ukraine's energy infrastructure, often leaving thousands of Ukrainian civilians without electricity and water during…
A 30-year-old man was arrested Monday on suspicion of murder following an incident on a Metro bus in which a 63-year-old man died after being hit with pepper spray, authorities announced.Trayvon Isiah Willingham was arrested and booked after LAPD detectives questioned him in the 3300 block of Long Beach Boulevard, according to a news release. Willingham was allegedly on a Metro bus near the intersection of Olympic Boulevard and Western Avenue around 10:50pm on Thursday when he got into an altercation with another rider. Emergency police communications described the victim as being struck with pepper spray. Officers responded to a…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, selects her favorite stories in this weekly newsletter.The Financial Times and its research partner Statista are launching a new project: to identify the best companies to work for – in different regions of the world. Employees will be invited to provide employer ratings, and these ratings will be used to compile a “Best Employers” ranking across the region. Research has now begun on the first of these rankings: for employers in the Asia-Pacific region. It will be implemented in two stages:FT readers will be invited to nominate a company…
You can enable subtitles (captions) in the video player Forever Chemicals – This is the smoother name given to PFAS, or perfluoroalkyl substances. They're everywhere. They've been used since the 1940s in everything from waterproof fabrics to fast food packaging. They are also essential for the manufacturing of semiconductors and other materials critical to the green transition. But what makes them practical and ubiquitous in the products we use is also what makes them so harmful. It is resistant to water, oil and temperature changes, but does not decompose in the environment and is now linked to health problems ranging…