Category: loss
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Unga narrows full year loss to Sh669.5m on lower costs
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Manufacturer Unga Group Plc narrowed its loss for the year ending June 2024 to Sh669.5 million from Sh959.3 million previously, on lower costs. The company attributed the lower costs to improved efficiencies in its operations and one-time gains in foreign exchange with the appreciation of the Kenyan shilling in the…
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Quorn parent company suffers £63m loss as demand for plant-based products falls
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Marlowe Foods, the parent company of plant-based brand Quorn, has announced a loss of £63m as demand for meat alternatives continues to decline. Sales fell by 6.9% to £205 million in the last financial year, prompting the company to cut nearly 100 jobs as part of a restructuring programme. Quorn…
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72% of UK firms face skills gaps, turn to AI and upskilling amid £275m productivity loss
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The UK skills gap continues to widen, with 72% of businesses reporting shortages in critical areas such as AI, data analytics and cybersecurity – up from 69% in 2023, according to DocuSign’s 2024 Digital Maturity Report. As a result, companies are increasingly turning to “quiet hiring,” upskilling their existing employees…
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Nvidia suffers record $279 billion loss in market value as Wall St drops By Reuters
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By Noel Randwick and Susan McGee (Reuters) – Shares of artificial intelligence giant Nvidia Corp (NASDAQ:NVD) plunged 9.5 percent on Tuesday, the deepest one-day drop ever in the market value of a U.S. company, as investors tempered their optimism about artificial intelligence in a broad market sell-off following tepid economic…
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Flame Tree slumps to Sh91m loss on high debt service costs
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Listed Flame Tree Group posted a loss of Sh90.6 million in the first half of the year ended June 2024, as higher debt servicing costs erased a Sh6.7 million profit from last year. The company’s financing costs rose by 48.1 per cent to Sh181.3 million from Sh122.4 million previously, as…
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TD Bank swings to quarterly loss on $2.6 billion provision tied to US probe
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(Reuters) – TD Bank Inc posted a quarterly loss on Thursday after Canada’s second-largest bank set aside C$3.57 billion ($2.63 billion) for fines related to U.S. regulatory probes into its anti-money laundering program. The U.S. regulatory investigations into the bank have been a major drag on TD shares over the…
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Thyssenkrupp swings to quarterly net loss as one-offs bite By Reuters
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By Christoph Steitz FRANKFURT (Reuters) – Thyssenkrupp swung to a net loss in the third quarter on higher-than-expected costs for legacy projects in its plant engineering business, the company said on Wednesday, adding that it had also halted the sale of one of its units. The company said it posted…
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Nvidia stock tanks as Magnificent 7 shares see worst market cap loss ever
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Nvidia (NVDA) shares fell about 8% in early trading as Magnificent 7 shares saw their worst intraday market value loss ever during Monday’s market rout. As of 10:00 a.m. ET, the MAG 7 Group’s market cap has fallen by more than $860 billion. Together, MAG 7 shares make up about…
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WazirX Abandons Plan To Share $230M Loss Among Every User
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Indian cryptocurrency exchange WazirX has found itself at the center of a major controversy after proposing a social loss distribution plan to distribute the massive $230 million in losses it incurred due to the severe WazirX exploit. The exchange’s attempt to distribute the losses, which it dubbed the “55/45 plan,”…
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WazirX Abandons Plan To Share $230M Loss Among Every User
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Indian cryptocurrency exchange WazirX has found itself at the center of a major controversy after proposing a social loss distribution plan to distribute the massive $230 million in losses it incurred due to the severe WazirX exploit. The exchange’s attempt to distribute the losses, which it dubbed the “55/45 plan,”…
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Here Are How Many Shiba Inu Holders Are In Loss After That Crash
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The cryptocurrency market has seen a significant decline over the past 24 hours, with assets like Shiba Inu showing losses. A comprehensive review of CoinMarketCap reveals that the top 30 cryptocurrencies by market cap have recorded declines in both the past 24-hour and seven-day periods. As such, Shiba Inu has…
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Here Are How Many Shiba Inu Holders Are In Loss After That Crash
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The cryptocurrency market has seen a significant decline over the past 24 hours, with assets like Shiba Inu showing losses. A comprehensive review of CoinMarketCap reveals that the top 30 cryptocurrencies by market cap have recorded declines in both the past 24-hour and seven-day periods. As such, Shiba Inu has…
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Lexicon Pharmaceuticals reported a net loss of $53.4 million By Investing.com
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Lexicon Pharmaceuticals (NASDAQ: NASDAQ:) reported in their second quarter 2024 earnings call a modest growth in their INPEFA business and a net loss of $53.4 million. The company highlighted the resubmission of their New Drug Application (NDA) for Zynquista, the advancement of their Phase 3 study for Sotagliflozin in hypertrophic…
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Hertz stock falls 7% on wider-than-expected Q2 loss, revenue miss By Investing.com
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Hertz Global Holdings (OTC:), Inc. (HTZ) announced its financial results for the second quarter of 2024 on August 1, 2024. HTZ reported revenue of $2.4 billion in the second quarter, slightly below analyst estimates of $2.47 billion. This represents a 3% increase year-over-year compared to $2.437 billion in the second…
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US home insurers suffer biggest loss of century in 2023 By Reuters
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(Reuters) – U.S. home insurers will suffer their worst underwriting loss this century in 2023, ratings agency A.M. Best said on Monday, as a toxic mix of natural disasters, inflation and population growth in vulnerable areas put a vital financial market under severe strain. Homeowners insurance companies suffered a net…
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U.S. home insurers are said to face biggest loss of century in 2023 (NYSE:ALL)
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Bill Oxford/E+ via Getty Images Home insurers in the United States last year suffered their worst underwriting loss this century, the Financial Times reported on Sunday, as natural disasters, inflation and population growth in high-risk areas put pressure on insurers’ finances. They made a net loss on the underwriting. Saudi…
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U.S. home insurers are said to face biggest loss of century in 2023 (NYSE:ALL)
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Bill Oxford/E+ via Getty Images Home insurers in the United States last year suffered their worst underwriting loss this century, the Financial Times reported on Sunday, as natural disasters, inflation and population growth in high-risk areas put pressure on insurers’ finances. They made a net loss on the underwriting. Saudi…
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Angela Kinyua’s love, loss and bold living
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Angela Kinyua enters, her smile like a delicate sword, first to disarm and then to release. She welcomes you, and she welcomes you back. But to carry a certain warmth, she must have felt a certain coldness – and Angela, Montgomery Group’s managing director for East Africa, She stared directly…