H&M Shares Slide as Retailer Unveils Cost Cutting Plan to Counter Market Headwinds

By Scott Kanowsky  Investing.com — Shares in H & M Hennes & Mauritz AB B (ST:) dipped in early trading on Thursday after the Swedish fast fashion brand unveiled a major new cost cutting strategy in response to lower-than-expected . The world’s second-biggest fashion retailer said it will initiate a plan to “streamline” the business, with … Read more

US South to Get Most Relief From Biden’s Student-Debt Plan, NY Fed Says

(Bloomberg) — President Joe Biden’s loan-forgiveness plan will wipe out about one-third of student debt owed to the federal government, with lower-income borrowers and those living in Southern states getting the biggest boost, according to analysis by the Federal Reserve Bank of New York. The proposal would eliminate federally-held balances for about 40% of borrowers, … Read more

Nearly 65% households plan to spend during this festive season

New Delhi, Sep 23 (IANS) A new survey has revealed that nearly 65 per cent households across the country plan to spend during the current festive season, while 35 per cent will refrain from doing so. The longest festive season in India, which begins from mid-September and stretches till mid-November, is currently underway. Riding on … Read more

Chinese mobile firms plan to set up plants elsewhere amid India crackdown

New Delhi, Sep 17 (IANS) Amid India’s escalating crackdown on Chinese companies, China-based smartphone brands are now planning to set up manufacturing plants in countries like Egypt, Indonesia, Bangladesh, and Nigeria, according to a Global Times report. The report, citing a Chinese executive based in India, claimed that companies will evaluate bilateral ties, market potential, … Read more

Air India unveils transformation plan

New Delhi, Sep 15 (IANS) With a focus on five key pillars — exceptional customer experience, robust operations, industry-best talent, industry leadership, commercial efficiency — Air India on Thursday unveiled its comprehensive transformation plan. The plan is called “Vihaan.AI”, which in Sanskrit signifies the dawn of a new era, with identified objectives for Air India … Read more

Twilio to Cut Nearly 11% of Workforce in Restructuring Plan By Investing.com

© Reuters By Sam Boughedda In a filing Wednesday, Twilio (NYSE:) said it plans to cut its workforce by nearly 11% in a restructuring effort. The cloud communications platform said the restructuring plan is designed to reduce operating costs, improve operating margins, and shift the company’s selling capacity to accelerate software sales. As a result … Read more

Lenders set to reject DB Realty’s One Time Settlement plan for RCFL (Ld)

Mumbai, Sep 13 (IANS) The ICA lenders of Reliance (NS:) Commercial Finance Ltd. (RCFL) are meeting on Tuesday to consider the recent Supreme Court order dated August 30 that had given the go-ahead for the Resolution Plan of RCFL. The 18 lenders led by the Bank of Baroda (NS:) will also be discussing the One … Read more

UK Bond Market Braces for More Losses After Truss’s Energy Plan

(Bloomberg) — Prime Minister Liz Truss’s plan to spend billions of pounds capping energy prices may help shield British households this winter, but for investors in UK government bonds there’s only more pain in store. Investors have eased bets on the Bank of England cutting interest rates next year following the prime minister’s first major … Read more