Market Watch

In this article UPS electric vehicle delivery van on 2nd December 2022 in London, United Kingdom. UPS electric vehicle delivery van on 2nd December 2022 in London, United Kingdom. Mike Kemp | In Pictures | Getty Images United Parcel Service on Tuesday reported fourth-quarter revenue that missed Wall Street’s expectations and declined from last year, as the company continues to see volume fall amid cooling demand. The shipping and delivery company on Tuesday offered full-year guidance that fell below analyst’s expectations. It is projecting revenue between $97 billion and $99.4 billion, versus analysts’ estimates of $99.98 billion. Still, UPS expects the second half of the year to be better than the first. related investing news Citi upgrades FedEx to a buy as shipping giant focuses on controlling costs Samantha Subin 10 hours ago Shares of the company closed over 4% higher in Tuesday trading. Here’s how UPS performed in the fourth quarter , compared with what Wall Street anticipated, based on an average of analysts’ estimates compiled by Refinitiv: Adjusted earnings per share: $3.62 vs $3.59. Total revenue: $27.03 billion vs $28.09 billion. For the three-month period ended Dec. 31, the company reported adjusted net income of $3.15 billion, […]

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Jaime Ibanez’s vending-machine business was a launching-off point for his YouTube career. Vending-machine businesses are gaining popularity because they require minimal overhead. The success of your business can depend on the products you sell and where you place the machine. Here are five vending-machine businesses that are relatively easy to start. Sign up for our weekday newsletter, packed with original analysis, news, and trends — delivered right to your inbox. Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy Policy . Starting a business isn’t easy — it takes a lot of hard work and can be a huge time commitment — but some ventures don’t require as much funding, resources, or employees as others. Vending-machine businesses are gaining popularity because they require minimal investment to get started, are low maintenance, and can eventually generate passive income if you outsource the daily upkeep. Some vending-machine entrepreneurs have started businesses for between $1,500 and $3,000. What you sell in the vending […]

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Heather Von Zuben, A.J. Murphy, Wesley LePatner Blackstone Inc. is reshuffling the leadership of a key real estate business as the private equity giant navigates one of the most challenging property markets in years. Frank Cohen, a nearly three-decade firm veteran, will cede leadership of Blackstone’s “Core+” real estate business to Wesley LePatner, the group’s global chief operating officer, according to Blackstone executives. LePatner’s promotion puts her in charge of a more than $140 billion business that focuses on long-term real estate bets on properties ranging from industrial warehouses to life-sciences buildings. The “Core+” strategy also includes Blackstone Real Estate Income Trust, the $69 billion vehicle aimed at wealthy individuals. It’s been a critical past few months for BREIT as Blackstone looks to stabilize flows and shore up investors’ confidence in that crown jewel. The personnel changes were part of long-term management planning, according to people familiar with the matter, who asked not to be identified citing private information. Cohen will remain chairman and chief executive officer of BREIT. For years, BREIT benefited from a retail boom, attracting wealthy investors who flocked to private markets in search of higher returns. Now, rising rates and a rockier real estate market […]

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Business aviation operators are often challenged with crew and aircraft shortages as they look to scale and meet the growing post-pandemic demand for air travel. With industry-wide staffing shortages, operators need to figure out how to attract pilots and other crew members — whether it be to fill full-time vacancies or add temp positions to meet urgent scheduling needs. Inspired to build a tech-forward solution, Alek Vernitsky and Alek Strygin co-founded Portside , which allows aircraft operators to share schedules, financial and maintenance data, and other key aircraft information with owners, banks and insurance companies through a web-based portal. Portside today announced that it raised $50 million in a Series B funding round led by Insight Partners, with participation from existing investors including I2BF Global Ventures, bringing the company’s total raised to more than $70 million. Portside is Vernitsky and Strygin’s second venture after tour agency startup GetGoing, which they sold to business travel management firm BCD Travel in 2016. Vernitsky was previously head of product at thredUp and for years was an SVP at BCD Travel (as was Strygin) following the GetGoing acquisition. “Portside provides an integrated platform and strives to be a one-stop shop for flight departments,” […]

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New York CNN — Bed Bath and Beyond is closing another 87 stores as the struggling retailer barrels toward bankruptcy. These closures are in addition to the 150 closures Bed Bath and Beyond announced last August. Included in the new list are 5 buybuy Baby locations and all 49 remaining Harmon Face Value stores, which sold cosmetics, plus several of the retailer’s flagship-brand stores across the country. “As we continue to work with our advisors to consider multiple paths, we are implementing actions to manage our business as efficiently as possible,” a Bed Bath and Beyond spokesperson told CNN. “This store fleet reduction expands the company’s ongoing closure program.” A company spokesperson also confirmed Wednesday night that it missed a bond payment on February 1, and that it entered a month-long grace period. Debtors will often have a 30-day grace period to make payments before they enter default. “We are committed to updating all stakeholders on our plans as they develop and finalize,” the spokesperson said. The spokesperson did not confirm the amount Bed Bath and Beyond owes. However, the Wall Street Journal reported Bed Bath and Beyond “failed to pay more than $28 million on three tranches of […]

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BERLIN, Feb 2 (Reuters) – Switzerland’s Swiss Re (SRENH.S) announced a reorganisation on Thursday that will split its reinsurance business into two parts that will operate with greater independence, which it said would improve efficiency. The division will see the property and casualty reinsurance business on the one hand and the life and health reinsurance operations on the other hand become independent units with full authority over their respective underwriting and claims management. "The planned changes will emphasise performance accountabilities and bring clear efficiencies. The simpler set-up with shorter decision paths will also result in enhanced client focus," Chief Executive Christian Mumenthaler said. Swiss Re will transfer the responsibilities of the group Chief Underwriting Officer (CUO) to the CUOs of the two businesses as well as to the group risk management division, it said. The announcement comes a week after news that Swiss Re’s CUO Thierry Leger was stepping down to become CEO of rival Scor (SCOR.PA) . The reorganization will be effective from April 3, subject to regulatory approvals, according to the company.

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Revenue in Q4 2022 decreased 9%. Excluding COVID-19 antibodies, revenue in Q4 2022 increased 5%, or 10% on a constant currency basis, driven by volume growth of key growth products, partially offset by lower Alimta revenue. Excluding COVID-19 antibodies, total worldwide volume in Q4 2022 increased 13%. Pipeline advancements included FDA approval of Jaypirca for mantle cell lymphoma under the accelerated approval pathway and FDA and EMA acceptance of regulatory submissions for Jardiance for adults with chronic kidney disease. Additionally, the company initiated a rolling submission in the U.S. for tirzepatide in obesity and the FDA granted Fast Track designation for tirzepatide in obstructive sleep apnea. Key growth products – consisting of Verzenio, Mounjaro, Jardiance, Taltz, Trulicity, Retevmo, Emgality, Cyramza, Tyvyt and Olumiant – grew 21% and represented 70% of revenue in Q4 2022. Q4 2022 EPS increased 13% to $2.14 on a reported basis and decreased 4% to $2.09 on a non-GAAP basis, both inclusive of $0.23 of acquired IPR&D and development milestone charges. 2023 EPS guidance updated to be in the range of $7.90 to $8.10 on a reported basis and $8.35 to $8.55 on a non-GAAP basis. INDIANAPOLIS, Feb. 2, 2023 /PRNewswire/ — Eli Lilly and […]

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Rohit Kapoor, CEO of ExlService, cofounded the firm after losing his job as a banker. (ExlService) Hard work is part of it. But winning and being successful is also about outsmarting the competition , says Rohit Kapoor, CEO of analytics and digital solutions company ExlService ( EXLS ). Playing smart is Kapoor’s winning formula. It’s been that way since his days as a squash player growing up in India. Kapoor, 57, says he was a skinny kid lacking in athletic muscle. But he was also competitive. "I like to win," he told Investor’s Business Daily. He knew he couldn’t beat bigger, stronger, faster, and more-skilled squash players. (Despite practicing three hours a day.) Instead, he fashioned a winning game plan that neutralized his opponents’ athletic edge. His strategy? Win points without having to engage in long, multi-shot rallies. "I taught myself to serve in a way that I would win the point automatically," Kapoor said. Apply Life Lessons To Business Since founding ExlService in 1999, Kapoor has used the work smart formula to fuel growth. "That’s something I still practice," Kapoor said. "We’ve chosen very carefully the types of businesses that we want to play, where we can create […]

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Insider compiled a list of the 10 jobs that could be disrupted by AI tools like ChatGPT, according to experts. ChatGPT is only a few months old and already causing waves in the business world. Experts say ChatGPT and related AI could threaten some jobs, particularly white-collar ones. Insider compiled a list of 10 jobs this technology could replace, according to experts. Top editors give you the stories you want — delivered right to your inbox each weekday. Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy Policy . Since its release in November of last year , OpenAI’s ChatGPT has been used to write cover letters , create a children’s book , and even help students cheat on their essays . The chatbot may be more powerful than we ever imagined. Google found that, in theory, the search engine would hire the bot as an entry-level coder if it interviewed at the company. Amazon employees who tested ChatGPT said […]

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Mayor Andre Dickens Announces ATLinBusiness Marketplace During Small Business Event Mayor’s Office of Communications 55 Trinity Avenue, Suite 2500 • Atlanta, Georgia 30303 Mayor Andre Dickens Announces ATLinBusiness Marketplace During Small Business Event ATLANTA —Mayor Andre Dickens and Invest Atlanta announced the launch of ATLinBusiness Marketplace— a new, dedicated digital marketplace for Atlanta-based businesses to sell and market to other Atlanta-based businesses and corporations. “ATLinBusiness Marketplace will create a more equitable business-to-business environment by connecting buyers and sellers in metro Atlanta—including minority-owned, women-owned and legacy businesses, said Atlanta Mayor Andre Dickens . “With this program, we aim to provide resources to support our local economy, create more good-paying jobs and ensure Atlanta is a city of opportunity for all.” With ATLinBusiness Marketplace, smaller, diverse suppliers will have a first destination for greater access to a wide range of buyers to help suppliers accelerate growth and generate new revenue streams. The platform will showcase participating business’s capabilities, diversity classification, certifications and more. “ATLinBusiness Marketplace will allow us another avenue to increase equity in business and access to opportunity for Atlanta’s entrepreneurs and small business owners, and to do that we must stay innovative,” said Dr. Eloisa Klementich, president and CEO […]

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