Author: IA PressRoom

Zara owner Inditex cemented its position as a $100bn company on Wednesday, reporting a bigger than expected rise in profits thanks to robust sales of summer clothes. Inditex’s market capitalisation rose to more than €100bn ($107bn) last week, making it the fourth most valuable clothing retailer in the world, behind luxury fashion group LVMH, Nike and Dior, according to data provider Statista. On Wednesday, the shares rose as much as 6 per cent to €33, the highest since August 2017. Inditex, which started as a family-run workshop in Spain in the 1960s and also owns the Massimo Dutti and Bershka brands,…

© Reuters WASHINGTON (Reuters) – The U.S. economy is strong amid robust consumer spending but some areas are slowing down, U.S. Treasury Secretary Janet Yellen said on Wednesday, adding that she expects continued progress in bringing inflation down over the next two years. Yellen, in an CNBC interview, also said that, while banks may struggle with commercial real estate and face some consolidation, there is ample liquidity in the system and that banks should generally be able to withstand any strain.

Eneco will use Tesla (TSLA) battery packs to build a 50 MW storage plant in Belgium Dutch energy company Eneco revealed Wednesday that it is planning to build a 50 megawatt (MW) battery energy storage project in Belgium using Tesla (NASDAQ:) battery packs, its largest such project to date. The project will consist of 53 Megapack battery packs with the capacity to provide a continuous energy supply for 4 hours, accumulating a total of 200 megawatt hours. Storage projects like this are expected to gain increasing importance in the coming years as renewable energy increases its share of the European…

The residents of Denver have chosen Mike Johnston, a former Oregon state senator, as the city’s first new mayor in more than a decade.Johnston won Tuesday’s runoff election following an unusually large 16-way mayoral race in April.Opponent Kelly Brough wished Johnson “godspeed in the work ahead” as rapidly growing Denver faces out-of-control housing costs and increased homelessness.Former Colorado state senator Mike Johnston claimed victory as opponent Kelly Brough conceded Tuesday night in a runoff election to become Denver’s next mayor.Unofficial results showed Johnston with 54.05% of the vote to 45.95% for Brough late Tuesday night. Johnston was ahead by 8,000…

eFFECTOR Therapeutics to launch ~$8.7M registered direct offering

A Georgia doctor was charged with abusive sexual contact aboard a Delta flight. The woman said he touched her crotch, and the outside of her genitals through her pants. He said he tried to squeeze her thigh but got her crotch as he didn’t have his glasses on. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app A Georgia doctor who was charged after allegedly groping the crotch of a passenger sitting beside him on a Delta Airlines flight blamed poor eyesight, and said he…

Lloyds Banking Group will seek a sale of the Telegraph Media Group after pushing its parent group into receivership over debts owed by the Barclay family, according to people familiar with the matter.The UK bank has put B.UK, a Bermudian-based holding company that ultimately controls the Telegraph titles and the Spectator magazine, into receivership, the people said. AlixPartners has been appointed as receiver at B.UK, they added.Sir Frederick and the late Sir David Barclay acquired the Telegraph newspapers in 2004. The Barclay family loans were acquired by Lloyds with the takeover of HBOS in 2008, and have since been written…

© Reuters. United Natural Foods (UNFI) cuts its forecast after FQ3 earnings miss; Shares crash 25% United Natural Foods (NYSE:) shares traded as much as 27% lower in premarket Wednesday after the wholesale distributor of natural and organic food significantly lowered its full-year profit forecast. UNFI a profit of $0.54 per share in the third fiscal quarter, missing the analyst consensus of $0.65. Revenue rose 3.7% to $7.51 billion, in line with estimates. “Our third quarter results continue to demonstrate the strength of our customer value proposition as sales and product penetration increased despite significant industry headwinds,” said UNFI CEO…

Source: PixabayAs the regulatory environment in the United States become too hot to handle, cryptocurrency exchanges continue expanding their reach for better business environments. The United Arab Emirates (UAE) presents as one of these greener pastures. One of the most popular exchanges in the world, Bybit, has spotted the region’s potential and is already reaching out for competitive leverage.Bybit Collaborates with UAE University to Foster Crypto Adoption in the RegionIn a recent blog, Bybit Exchange revealed a new collaboration with the American University of Sharjah (AUS). The two household names coming together are part of a shared vision to increase…

CNN  —  A federal judge has given the Department of Homeland Security until next Tuesday to decide how it will handle a conservative think tank’s request for Prince Harry’s US immigration records. The Heritage Foundation has asked the US government via the Freedom of Information Act to see his visa application, citing his admission of past recreational drug use in his memoir. The group is questioning whether immigration officials properly granted Prince Harry’s application, since admission of past drug use can be grounds to reject a visa application. At a hearing Tuesday in Washington, DC, federal judge Carl Nichols gave…