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E-commerce heavyweight, Coupang, experienced a marked downturn in the second quarter, with a considerable net loss despite an uptick in sales. This negative financial impact was primarily due to substantial penalties linked to a massive data breach in South…
Air India has reported an annual deficit surpassing INR220 billion ($2.4 billion), a more substantial loss than initially anticipated. This unexpected financial setback has led the airline to seek monetary aid from its stakeholders. Fiscal Losses and…
Synlait Milk, a company based in New Zealand and listed on the Australian Securities Exchange (ASX), anticipates reporting a loss for the six months ending on January 31. The company has attributed this forecast to manufacturing challenges at its Dunsandel…
Jerry Greenfield, co-founder of the renowned ice cream brand Ben & Jerry’s, has announced his departure from the company. His exit comes as a result of the eroding independence that he and fellow co-founder Ben Cohen had established within the company’s…
Berjaya Food, a Malaysia-based company, has recently reported a significant increase in losses and a decrease in sales for both their fourth quarter and the entire fiscal year. Berjaya Food, which operates Starbucks Coffee in Malaysia and Brunei, along with…
Dolce & Gabbana, the revered Italian luxury fashion brand, has unveiled financial figures for the fiscal year that came to a close on March 31. The company saw its revenue climb by 4 per cent, translating to a total of US$2.2 billion. Revenue Drivers and…
Swiggy, one of India’s leading online food delivery platforms, has reported a near-doubling of its quarterly loss compared to the same period last year. This increase in losses is attributed to a significant rise in marketing expenditures aimed at securing a…
Samsung Electronics announced sharply lower earnings for the fourth quarter, an earnings “shock” that suggested that the “supercycle” in the global semiconductor market is nearing an end. Preliminary 2018 performance numbers released Tuesday predicted the…
Australian airline Qantas has made the difficult decision to close its budget carrier, Jetstar Asia, effective July 31. This move comes in response to escalating operational costs, increased fees at Singapore’s Changi Airport, and fierce competition across…
Leading steelmakers in the country have reported the biggest-ever Q3 losses in amidst low sales, rapidly falling prices, and high inventories. The nation’s biggest steelmaker, Hoa Phat, incurred a negative after-tax return of VND1.79 trillion ($72 million),…
AirAsia X—the long-haul affiliate of Malaysian tycoon Tony Fernandes’ AirAsia Group—reported its biggest-ever quarterly loss as travel restrictions aimed at curbing the further spread of Covid-19 grounded the budget carrier’s planes. The airline posted a net…
AirAsia Group is expected to report another huge loss in its 2021 earnings on prolonged closure of borders and a slower-than-expected recovery in tourism. Affin Hwang Capital said AirAsia had posted a record headline net loss of RM2.44 billion in the fourth…
Zara-owner Inditex posted a net loss of US$229 million during the six months to 31 July, after a successful second quarter largely helped mitigate a disastrous start to the year. The first three months suffered a $481 million loss due to the sudden impact of…
AirAsia X Bhd’s net loss for the second quarter ended June 30, 2020 (2QFY20) widened to RM305.24 million, 47.4% more than the RM207.11 million it recorded a year ago as the airline bore the full brunt of travel restrictions implemented to curb the Covid-19…
A Ford plant that produced transmissions in southwestern France shut down for good on Wednesday after the carmaker brushed aside efforts save some operations at the facility that had employed up to 3,600 people. The factory in Blanquefort, outside Bordeaux,…
Trimmed-down Global Brands Group has reported another loss but says its restructuring is on track to be completed next year. “Global Brands has entered into a new chapter as a nimble and more focused organization,” said CEO Rick Darling. “The changes we are…
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