Shares in Foot Locker (FL) plummeted by a quarter on Friday after the company readjusted its yearly sales forecast downwards, announcing that current year sales are lagging behind last year’s figures. The athletic retailer’s misses on first-quarter revenue and earnings per share further exacerbated investor worries about the firm’s standing. “Our revenue stream has markedly…
Asian prices for liquefied natural gas (LNG) have plunged to a two-year record low, driven by lukewarm demand and burgeoning inventories. Likewise, European LNG prices have dipped beneath $10, suggesting a strong inventory expansion and a diminished requirement for further supplies. Insiders from the LNG sector indicated that the average cost for LNG delivery to…
As of 7:30 p.m. on Friday in Hong Kong, Bitcoin, the world’s largest cryptocurrency by market capitalization, was trading at US$26,846, marking a 1.78% rise from May 12. Meanwhile, Ether increased by 2.44% over the week, trading at US$1,808. Both cryptocurrencies have been trading under considerable pressure, with Bitcoin consistently below US$30,000 since April 19…
Stocks Move Higher Amid Debt Ceiling Talks and Mixed Earnings Reports In Friday’s pre-market trading, equity indices displayed an upward momentum as investors kept a close eye on progress in debt ceiling discussions and digested the largely upbeat results of the Q1 earnings season. The S&P 500 (^GSPC) edged up by 0.20%, while the Dow…
In a pivotal event in the tense relations between Georgia and Russia, a four-year hiatus in direct flights came to an end on Friday. Despite vehement protests and stern disapproval from Georgian President Salome Zourabichvili, a plane belonging to Azimuth Airlines made its descent onto Tbilisi airport, flying directly from Moscow. The unexpected move arrived…
The forthcoming G7 summit scheduled in Hiroshima carries great significance as it presents a unique opportunity for survivors of the atomic bombings in Hiroshima and Nagasaki to advocate for worldwide nuclear disarmament. Prime Minister Fumio Kishida, who hails from Hiroshima, purposely selected this location to underscore the critical nature of global efforts to prevent the…
Jeddah, Saudi Arabia – An influential moment is set to occur in the Middle East as Syrian President Bashar al-Assad is anticipated to rejoin the Arab League in a summit hosted in Saudi Arabia this Friday. The forum will also delve into the persisting conflicts in Sudan and Yemen. Assad’s return to the Arab League…
Hiroshima, Japan – With the haunting backdrop of the Hiroshima Peace Memorial as a potent reminder of war’s destructive capacity, President Joe Biden, alongside world leaders, is preparing to announce extensive new sanctions on Russia at a dedicated G7 session. The measures are a reaction to Russia’s ongoing invasion of Ukraine, and are designed to…
In a week marked by political tension in Washington and wavering economic activity in China, investors found solace in signs of progress surrounding US debt-ceiling talks, prompting modest gains in global stock markets. Europe led the charge, with significant gains in mining and financial services stocks pushing most sectors in the regional benchmark into positive…
Billionaire Sam Zell, renowned for his exceptional ability to profit from distressed assets and for his significant contributions to the world of real estate, has died at the age of 81. The cause of death was complications from a recent illness, as per a statement released on Thursday by his private investment firm, Equity Group…