Lowe's Financial News

Meesho is looking at a public listing in the next 12-18 months after the e-commerce startup reported its maiden net profit in July, chief financial officer Dhiresh Bansal said. Meesho, which had earlier raised more than $1 billion from Prosus, SoftBank and Facebook, among investors, expects to close the current financial year with 40% growth in revenue run rate, Bansal said in an interview. “Our January-June revenue run rate has been around $400 million and expect to end the year at a 40% compounded annual growth rate (CAGR)," he said.

By Safiyah Riddle

By Bhanvi Satija and Mariam Sunny

Tata Consultancy Services and Reliance Industries. However, continuous foreign fund outflows prevented markets from registering a sharp rally. Nifty inched higher to levels just below 19600, while Sensex added 232 points and closed at 65,953.

Adani Ports and Special Economic Zone is likely to report a drop in the profit for the quarter ended June, despite a growth in revenue, as the numbers will reflect the integration of the recently acquired Haifa port in Israel. Consolidated net profit is likely to fall 5.5% year-on-year (YoY) to Rs 1,929 crore, according to the average of estimates given by four brokerages. However, the revenue is set to increase by nearly 22% YoY to Rs 6,156 crore on the back of strong growth in volumes.

Zoom Video Communications Inc., once hailed as the emblem of the remote work era, is charting a new course by summoning its workforce back to the office. The company has revealed that employees living near a Zoom location will be required to be on-site for two days every week. This "hybrid approach," according to a company spokesperson, aims to bolster innovation and customer support while capitalizing on the firm's own technologies. Zoom's meteoric rise during the pandemic marked a significant shift in how industries communicated virtually. Nevertheless, as the world emerges from pandemic-related restrictions, diverse enterprises, including Amazon.com Inc., Chipotle Mexican Grill Inc., and BlackRock Inc., have been recalibrating their work arrangements to include more on-site presence for employees. However, despite this shift, numerous office spaces continue to experience low occupancy rates. For instance, offices in the Northeast region of the United States were at peak capacity only 24% of the time during the first half of the year, as per data from Basking.io, an analytics company focused on workplace occupancy. Simultaneously, job listings for remote positions have witnessed an upward trend in multiple cities.

By Rishav Chatterjee and Scott Murdoch

Berkshire Hathaway (NYSE:BRKa) (BRKb) earnings surpassed expectations, raking in a whopping $12 billion in revenue and generating a solid $10 billion in operating profit, which is 6% higher than last year.

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By Gertrude Chavez-Dreyfuss and Joice Alves

By Carolina Pulice

An international human rights group has denounced Tanzania’s government for detaining critics and urged it to respect freedom of expression and the right to protest

Oregon has extended rules restricting the number of crab traps in the water and how deep they can drop in the late-season months when humpback whales are more likely to swim there

By Samuel Shen and Tom Westbrook

(Reuters) — Packaging solutions firm Veritiv Corp. (NYSE:VRTV) said on Monday it has agreed to be bought by private equity firm Clayton, Dubilier & Rice, LLC (CD&R) for $2.3 billion, in a deal that would take the company private.

World Health Organisation (WHO) has raised an alarm about the rise in cases of the ‘Eris’ variant. However, it has also been noted that this new variant of Covid-19 is not any more severe than the previous variants. In the week beginning 10 July, approximately 11.8% of UK sequences were identified as Eris, and the latest data indicates that this figure has climbed to a worrisome 14.6% of all cases.

UBS shifted its rating for Wayfair (NYSE:W) to Buy from Neutral, raising the price target to $110 from $72 in a note to clients Monday.

unemployment rate reached a historic low of 6.8% in the first quarter of 2023, down from 7.2% in the previous quarter, according to latest data released by the MoSPI. The figures from the Periodic Labour Force Survey (PLFS) indicate that the rate of unemployment in Indian cities is the lowest since the survey’s initiation in 2018-19.

Domestic benchmark index NSE Nifty ended 80.3 points up at 19597.3, while the BSE Sensex closed 232.23 points up at 65953.48. On the other hand, Birla Cable, Motor Gen Fin, Universal Cable, Patel Integrat and Hindprakash Industri stocks hit their fresh 52-week highs today.

Kolkata Police have revealed that Kolkata boasts the highest vehicular density among all Indian metros, with 2,448 vehicles per kilometre of road. This finding echoes the lived experience of many Kolkatans, who are grappling with increasingly prolonged commutes due to mounting traffic congestion. Over the past five years, average trip times within the city have doubled, aligned with a significant surge in personal vehicles and a decline in public transportation, primarily attributed to the pandemic.

Warning bells are ringing for US stocks from signs that high fiscal spending, which underpinned economic growth this year, is unsustainable, according to Morgan Stanley’s Michael Wilson.