The Decline and Fall of Victoria’s Secret Titan Les Wexner

As 47 models strutted down the catwalk at the Victoria’s Secret fashion show in New York, billionaire Les Wexner was flying high. It was 2015 and his L Brands Inc. — which started with a single shop in Ohio five decades earlier — had just soared to a record market value of $29 billion, driven […]

Domestic firms eye defence sector; plan to cut imports

The ministry of defence has set a goal of $26 billion, including export of $7 billion for the industry by 2025-26 through its Defence Production Policy 2018. Despite a marginal 6 per cent rise in defence allocation for FY21, domestic companies – Jindal Defence and L&T Defence – are actively looking at participating in the […]

What to Watch For When First Solar Reports Earnings Thursday

Since reaching a high more than 1,600% above its initial public offering price of $20 in mid-2008, shares of First Solar Inc. (NASDAQ: FSLR) have lost about two-thirds of their value. Virtually all the loss was recorded in the four-year period between 2008 and 2012. Many of us are old enough to remember the financial […]

Cleveland-Cliffs, AK Steel Shares Sinking Equally as Merger Nears Closing

When Cleveland-Cliffs Inc. (NYSE: CLF) announced last December that it was acquiring AK Steel Holding Corp. (NYSE: AKS) in an all-stock deal worth valued at $1.1 billion, shares of the iron-ore miner fell by 11% while AK Steel stock rose by a mere 2%. Shareholders in both companies were less than thrilled with the announced […]

The Top-Selling Canned Foods in America

People have been finding ways to preserve food for centuries. The method of storing it in a can dates back to France in the early 19th century. The military was going hungry, and the government offered an award for anyone who came up with a sustainable way to preserve food. A young chef started using […]

U.S. Stocks Finish Volatile Session Modestly Lower

After coming under pressure early in the session, stocks fluctuated over the course of the trading day on Thursday. The Nasdaq and the S&P 500 recovered from the early weakness to reach new record intraday highs but eventually returned to negative territory. The major averages all finished the session in the red. The Dow fell […]

Facebook Stock Nears Historic Breakout

Facebook, Inc. (FB) stock completed a round trip into the July 2018 high near $220 in January, filling the 42-point sell gap printed in reaction to the Cambridge Analytica privacy scandal. It reversed after posting an all-time high at $224.20 about three weeks later, dropping through support at the 50-day exponential moving average (EMA) at […]

Morgan Stanley to Buy E*TRADE for $13 Billion

In yet the latest shake up in the online brokerage industry, E*TRADE, one of the original internet brokers, is being sold to legacy Wall Street bank Morgan Stanley in an all-stock deal worth $13 billion. With five million retail customers and $360 billion in assets, and an online bank, E*TRADE will bring new customers into […]

Post devaluation, Quikr is no longer a unicorn

Major shareholder Kinnevik, a Swedish investment firm, devalued Quikr by 45%, referring to the exaggerated revenue resulting from fraudulent transactions that rocked the company. Quikr is now valued at about $577 million. Online classifieds marketplace Quikr is no longer a unicorn, or a start-up valued at more than $1 billion. In its year-end report, major […]

Why registering a company online will now become easier

The new web form would facilitate on-screen filing and real time data validation for seamless incorporation. Company incorporation is about to become easier with the corporate affairs ministry planning to introduce online forms submission. Moving away from e-forms that had to be downloaded and then filled, in the new format companies will be able to […]