Author: Press Room

CNN  —  Bed Bath & Beyond lost a third of its sales during the holiday run-up and is running out of options to avoid bankruptcy. The retailer said Tuesday that net sales fell 33% to $1.3 billion during its latest quarter ending November 26 compared with the same stretch a year ago. It lost $393 million during the quarter, a 42% increase from a year ago. Last week, Bed Bath & Beyond issued a grim message about its future, warning that a bankruptcy filing is a possible outcome for the company. There is “substantial doubt about the company’s ability to…

The London Metal Exchange should strengthen its rules and oversight to prevent short-term market distortions, according to an independent review of March’s nickel market chaos which found the marketplace had insufficient tools to stop prices spiralling out of control.The report, conducted by consultancy Oliver Wyman, laid out further details on the depth of the crisis in the run-up to a decision by the LME, the world’s largest hub for metals trading, to suspend nickel trading for a week and cancel billions of dollars’ worth of trades.LME’s radical step on March 8 came after nickel prices surged 270 per cent over…

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.comZilliqa’s ZIL token has been on an impressive roll this week, with its price rising considerably as more investors jump to catch its hot wave. However, why is its price on the rise, and what should investors know about it? ZIL Price ActionAt press time, the ZIL token trades at $0.02413, indicating an uptrend of an impressive 2.72% in the past 24 hours, handily outperforming the broader market, which is up by 0.08% in the same period. Still, this isn’t enough…

There are two certainties in today’s market: The tech sector has been beaten down and interest rates are higher. And while analysts widely anticipate an easing in the Fed’s rate hikes this year, institutional investors are increasingly using a dangerous tactic to take advantage of market falls. That shift could be leading to an increase in misleading data about investor sentiment. What’s happening: Investors are purchasing put options, a bearish bet that a stock will fall during a set period of time, on certain tech stocks at historic rates. Apple (AAPL) and Amazon (AMZN) each lost more than $830 billion…

A mother fatally shot an intruder who broke into her Louisiana home with her two young children inside earlier this week.Robert Rheams, 51, broke into the Hammond home of a woman early Sunday, armed with a shovel and lug wrench, the Tangipahoa Parish Sheriff’s Office said. After making entry, he got into a physical altercation with the woman, “which ultimately led to Rheams being shot by the homeowner,” the sheriff’s office said. Deputies responded to reports of a shot fired at the residence shortly after 5 a.m. and Rheams, also of Hammond, was pronounced dead on the scene. Rheams was out on parole…

A picture is worth a thousand words! The Golden Globes is known as Hollywood’s Party of the Year and celebrities have the photos to prove it. As fans settle in front of their TV screens to see if their favorite stars will win the most coveted trophies for both film and television each year, Hollywood’s biggest names are getting pampered and documenting their road to the Golden Globes via social media. Some stars including Alex Borstein and Emma Roberts give their followers an inside look at their pre-show rituals. Roberts, for example, is a fan of grabbing a burger while…

You know those compelling TV adverts that say something like “If you bought fridge insurance between 2004 and 2008, you might be eligible for blah blah blah”?A suitable 2023 version in the UK might say “If your business bought a fixed electricity contract between June and December 2022, you screwed up”. And then the television would turn off because you can’t afford the power.Per the FT on Monday:The British government is slashing the support it gives companies with their energy bills, but extending it for another year from April at a cost of £5.5bn, ministers announced on Monday . ..At present the…

Amazon is closing three UK warehouses this year, a move that will affect 1,200 staff, as the internet retailing giant cuts costs following a squeeze in consumer spending.The closures at fulfilment centres in Hemel Hempstead in Hertfordshire, Doncaster in South Yorkshire, and Gourock in Scotland were announced on Tuesday, a week after the tech group said it would cut more than 18,000 staff from its corporate workforce, largely from its ecommerce and human resources divisions.Chief executive Andy Jassy said last week that job cuts were part of plans to weather “uncertain and difficult” economic conditions. Amazon hired large numbers of…

One airline is urging its customers to skip their inflight meal, calling it an ‘ethical choice’.Japan Airlines (JAL) has been offering the ‘JAL Ethical Choice Meal Skip Option’ to passengers since 2020, allowing flyers to skip the catering service on certain routes.The company has now announced the option will be offered on all flight bookings worldwide.The choice helps the airline cut down on food waste, JAL says.Should you opt out of inflight meals?JAL has advised passengers that opting out of the inflight meal is a more sustainable choice as it reduces food waste.The carrier also suggests skipping lunch or dinner…

A video has emerged showing a beach in California littered with debris as repeated storms bringing heavy rain, powerful winds and widespread flooding are wreaking havoc across the state. The footage taken in Capitola Beach Monday – south of San Jose – depicts the muddy waters of Monterey Bay splashing over piles of logs and other wooden debris as winds could be heard gusting in the background. “The endless onslaught of atmospheric river events continues in California,” the National Weather Service said Tuesday, signaling relief is yet to come in the storm-weary state. “Torrential rain, widespread flooding, rapid water rises, mudslides and landslides with…