Brinker International, the parent company of Chili’s, experienced a significant drop of around 12% in its stock value. This downfall came after the company issued a profit forecast for the full year that fell below expectations. The disappointing fiscal fourth-quarter earnings, with adjusted earnings per share below consensus estimates, added to the negative outlook for
Australia’s corporate regulator, the Australian Securities and Investments Commission (ASIC), has taken legal action against ASX Ltd, the country’s bourse operator, for allegedly making deceptive statements regarding the timeline to replace its trading platform Clearing House Electronic Subregister System (CHESS). ASIC claims that ASX misled investors by stating that the replacement of the CHESS platform
The Brazilian real has been experiencing a rapid decline in value in recent times, with the currency weakening by nearly 12% against the U.S. dollar this year. However, despite this significant depreciation, the central bank of Brazil has refrained from intervening in the foreign exchange market. Central bank chief Roberto Campos Neto made it clear
Following the announcement of CEO Brian Niccol leaving his role at Chipotle to become the CEO of Starbucks, Chipotle stock plummeted by as much as 10% on Tuesday. This news sent shockwaves through the market and the stock closed down 7% for the day. Niccol, who took over as Chipotle CEO in March 2018, has
In a recent global financial markets rout, South Korea’s retail investors stood out by defying the trend and pouring more funds into U.S. stocks. This behavior is not new and has been observed over the years, fueled by the perceived value proposition in the U.S. market compared to the domestic market. Retail investors in South
Recently, the judge presiding over X’s lawsuit against advertisers has decided to recuse himself from the case. This decision came after it was revealed that he owned shares of Tesla, raising concerns about a potential conflict of interest. The judge, U.S. District Judge Reed O’Connor in Texas, made the recusal notice on Aug. 13, without
The looming auction date for properties owned by Charles Cohen’s Cohen Realty Enterprises, including the U.S. Landmark and UK Curzon arthouse cinema chains, is raising concerns within the indie film business. The potential closure of Landmark theaters would deliver a significant blow to an industry that is still grappling with the aftermath of the Covid-19
The dollar was at a standstill on Tuesday as investors held their breath, waiting to see how U.S. economic data would impact the possibility of significant rate cuts. A rally in Japanese stocks provided some relief to the yen carry trades, but uncertainty loomed over the currency market. The greenback hovered at 147.17 yen, reaching
The highly anticipated interview between Republican presidential candidate Donald Trump and billionaire entrepreneur Elon Musk on the social media platform X encountered technical difficulties right from the start. The scheduled livestream was inaccessible to many users, prompting Musk to delay the event. The page on X displayed an error message stating that it was “not
SpaceX, the aerospace company founded by Elon Musk, has been found to have repeatedly violated environmental regulations in Texas. The Texas Commission on Environmental Quality (TCEQ) issued a notice of violation regarding the company’s water deluge system at its Starbase launch facility in Boca Chica. This notice came after complaints were received about SpaceX discharging