Disney woes and health of banks edged Wall Street lower May 12, 2023 Wall Street edged lower on Thursday, weighed down by a sharp drop for the Walt Disney Company and flaring fears about the health of some US banks. The S&P 500 lost 7.02 points, or 0.2 per cent, to 4,130.62, with two out of every three stocks in the index falling. The Dow Jones Industrial Average [...]
After AI update, Bloomberg looks to boost terminals with more alternative data April 20, 2023 Bloomberg will expand its alternative data offering on its terminals this summer, the company’s chief technology officer told City A.M., after the firm announced that it plans to integrate an ChatGPT-like AI model into its software. Shawn Edwards said the financial data vendor aims to bring new sets of data to its terminals alongside the [...]
Women’s Tour of Britain at risk of cancellation over sponsor issue March 9, 2023 This year’s Women’s Tour is at risk of cancellation if fresh sponsorship cannot be found. Britain’s longest-running major international stage race, which counts Lizzie Deignan, Marianne Vos and Elisa Longo Borghini as former winners, is in peril after the loss of key partners has left a £500,000 shortfall in funding. Organisers Sweetspot announced the route [...]
Peloton slapped with £16m fine over defect which caused child’s death and forced it to recall its Tread+ January 6, 2023 Peloton Interactive has agreed to pay roughly US$19m (£16m) in fines related to its delay in reporting a defect for its treadmills that caused one death and multiple injuries, the US federal consumer watchdog said. The Consumer Product Safety Commission (CPSC) said the fine resolves the agency’s charges that Peloton knowingly failed to immediately report [...]
Peloton keeps tumbling as it warns for Christmas slump November 3, 2022 Peloton has forecast second-quarter revenue below Wall Street estimates as the company continues its two year tumble from grace as the leading stay-at-home stock. The exercise bike maker said it expects current-quarter revenue between $700m and $725m, down from analysts’ estimates of $874m, according to Refinitiv data. In a shareholder letter this morning, the company [...]
Peloton lures CEO back from retirement with £145m package despite tumbling market value October 26, 2022 Peloton lured chief exec Barry McCarthy out of retirement with a handsome package worth $168m (£145m), making him one of the highest-paid bosses in the US. McCarthy, who previously served as chief of finance at both Spotify and Netflix, replaced Peloton co-founder John Foley as CEO of the fitness company back in February. McCarthy is often credited [...]
UK finance at the ‘front of the peloton’ on climate, says Carney October 24, 2022 UK financial firms are at the “front of the peloton” on setting rigorous climate standards and the rest of the world will follow suit, the former Bank of England governor Mark Carney said today.
Peloton slashes 500 more jobs as it pins hope on turnaround plan October 6, 2022 Peloton said it plans to slash 500 more jobs, as chief executive Barry McCarthy gives the company six months to turn its run of bad luck around. The dramatic move knocks about 12 per cent from the exercise bike maker’s headcount to roughly 3,800 employees globally, and adds to the tide of staff cuts that [...]
La Vuelta a Espana: Ones to watch as third Grand Tour departs August 19, 2022 This lunchtime the eyes of the cycling world will be on Utrecht, the unlikely starting point for the third and final Grand Tour of the year, La Vuelta a Espana. A Dutch Grand Depart kicks off the 77th edition of the race, which has traditionally followed the Giro d’Italia and Tour de France, and this [...]
Big Tech outlier: Apple pushes for three day return to office policy August 16, 2022 Apple has called on employees to get back into office at least three days a week as the tech giant continues to defy work from home trends that dominate Silicon Valley.