Its The Economy, Stupid - Economic & Business News From Around The World

Once the darling of franchises.

"Earlier this month, the company announced its second year in a row of record sales. Subway said same-store sales rose 9.2% last year, compared to 2021."

Run before it collapses.

Just over the weekend...

Your money is safe. Stop withdrawing the money.

" engineers who joined Meta in-person performed better than those who joined remotely - indicating that this would change as part of the company's 'year of efficiency'.

'Engineers earlier in their career perform better on average when they work in-person with teammates at least three days a week,'"

"First Republic shares cratered again Thursday as investors digested a report the struggling San Francisco-based regional bank is weighing a sale and received two credit downgrades, with mounting concerns First Republic could soon go the way of its failed peer Silicon Valley Bank."

Time to buy!

Do not worry. Credit Suisse was a one off. Signature bank was too focused on crypto. First Republic was an anomaly. Silicon Valley Bank was because of poor legislation and untrue rumours. Your deposits are safe. Keep stashing your money in banks. Stop withdrawing money.

"Tupperware said that its shares were in danger of being delisted from the New York Stock Exchange because it had not yet filed its annual report. It also warned that it had to renegotiate its loans after already amending its loan agreements three times since August 2022. Tupperware said it was struggling with higher interest costs on its borrowings while it attempts to turn the business around.

The company said it 'currently forecasts that it may not have adequate liquidity in the near term', adding that it 'has therefore concluded that there is substantial doubt about its ability to continue as a going concern'.

In addition, Tupperware said that its financial results for 2021 and 2022 as well its interim figures in 2021 and the first three months of 2022 had been "misstated' due to how the firm accounted for taxes and leases.

Tupperware's share price dropped by nearly 50% on Monday. The company said it was working with financial advisers to secure more money and investment. It is also examining whether it can sell property and cut jobs."

Maybe they'll live broadcast the next executive and C-suite meet your shareholders meeting. 🍿

"The Financial Times, which first reported the EY cuts, said they primarily affected the consulting side of the business."

Weeping for the losses of a parasite firm.

"The bank's shares, which were worth more than $120 at the start of the year, ended Tuesday trading at roughly $8."

Perhaps it might be prudent not to disclose you lost $100B and 40% of your deposits YTD.

"'Rather than signaling a pause, the committee will want to preserve the option for further rate hikes,' the Citi economists write. 'In our base case the Fed will raise rates by 25bp [0.25%] this week and again in June and July.'"

Up and up and up.

"PacWest sold 74 real estate construction loans that have an outstanding balance of $2.6 billion to property firm Kennedy-Wilson Holdings for $2.4 billion -- a $200 million discount, a regulatory filing showed on Monday."

No, it's not a fire sale. Your deposits are safe. Don't withdraw your money if you don't need it. The banking sector is strong.

It looks like the highest prices are in Britain and France.


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