Mannequins display men’s suits inside a Hugo Boss showroom. Bloomberg | Bloomberg | Getty Images Shares of Hugo Boss plunged 13% Thursday, after warning that it may fail to meet its 2025 sales target amid weakening consumer demand. The German high-end fashion brand was on course for its worst trading day since 2016, after it … Read more
Frank Slootman, CEO of Snowflake, on the day of the company’s initial public offering on Sept. 16, 2020. CNBC Snowflake said on Wednesday that billionaire CEO Frank Slootman, who joined the cloud software company in 2019 and took it public the following year, is retiring and will be replaced by former Google ad chief Sridhar … Read more
A convicted killer was allegedly lunged at and punched in a California courtroom during his sentencing for stabbing his girlfriend to death nearly four years ago. Euren Balbuena, 33, was sentenced to 33 years to life in prison for killing his girlfriend, 31-year-old Zaira Patino-Trejo, Ventura County District Attorney Erik Nasarenko announced in a Thursday … Read more
Europe’s fintech sector is fiercely competitive, with privately-held start-ups worth tens of billions of dollars vying to steal market share from incumbent banks. Oscar Wong | Moment | Getty Images The fintech industry saw more pain in 2023, with overall investment falling by half as higher interest rates and worsening macroeconomic conditions caused investors to … Read more
HONG KONG — Voter turnout plunged below 30% in Hong Kong’s first district council elections since new rules introduced under Beijing’s guidance effectively shut out all pro-democracy candidates, setting a record low since the former British colony returned to Chinese rule in 1997. According to official data on Monday, 27.5% of the city’s 4.3 million … Read more
Ericsson recently announced it is planning to cut 8,500 jobs as part of its cost-cutting measures. Nurphoto | Nurphoto | Getty Images Shares of Finland’s Nokia plunged to a three-year-low, as the telecoms company lost out on a major deal to roll out a new telecoms network in the U.S. with industry juggernaut AT&T. Helsinki-listed … Read more
Earlier this year, the stock-photo service provider Getty Images sued Stability AI over what Getty said was the misuse of more than 12 million Getty photos in training Stability’s AI photo-generation tool, Stable Diffusion. Now Getty Images is releasing its own AI photo-generation tool, which will be available to its commercial customers. And it’s bringing … Read more