Author: i2wtc

Cava stock tumbled 16% in afternoon trading on Wednesday, making it the latest fast-casual chain to feel Wall Street’s wrath after reporting disappointing quarterly sales.A year ago, eateries like Chipotle Mexican Grill and Cava were reporting double-digit same-store sales growth, even as the broader restaurant industry posted falling traffic and slumping sales. But times have changed. This spring, fast-casual chains saw foot traffic decline as sales slowed down or even shrank.To explain the downturn, executives have said that diners are “cautious,” in the words of Sweetgreen CEO Jonathan Neman, or dealing with an economic “fog,” according to Cava CFO Tricia…

Listen to article Federal Finance Minister Muhammad Aurangzeb on Wednesday pledged to close tax loopholes, enhance investor confidence, and maintain economic reforms, as he addressed the Rawalpindi Chamber of Commerce and Industry’s Independence Day event. Aurangzeb said international institutions had welcomed Pakistan’s reform measures, while recent Gallup surveys showed rising economic confidence. He noted a 60% growth in the stock exchange, an increase in new investors, and 250,000 new company registrations. Aurangzeb suggested the key policy rate could be cut further this year, citing falls in average and core inflation. Earlier in May, governor SBP, in a press conference along with other…

Richard Kim, a former Goldman Sachs and JPMorgan Chase executive, was indicted on securities and wire fraud charges related to his alleged misappropriation of about $4 million in investor funds for his start-up online casino company, most of which he allegedly lost within a week through gambling on another site, prosecutors said Wednesday.Investors who lost money in Kim’s scheme included Galaxy Digital, where he had been a venture fund investor for six years, court filings show.The case against Kim again relates to his company Zero Edge, which the 39-year-old New York resident announced after leaving Galaxy Digital in March 2024,…

The human papillomavirus (HPV) vaccine to prevent cervical cancer will be rolled out from September 15 in Sindh, with health officials warning that community mistrust, persistent rumours and gaps in vaccinator training could undermine the campaign. Around 50% of the target group is enrolled in schools, with coordination underway [between health officials and the] education department to facilitate in-school vaccinations, said Dr Rehan Baloch, speaking at the Globe HPV Seminar at Aga Khan Univeristy (AKU). “We have earmarked around Rs 200 million for the HPV vaccine, with additional support from Gavi and other partners for advocacy and outreach,” he said,…

Groceries are seen at a Walmart supermarket in Houston, Texas, on May 15, 2025.Ronaldo Schemidt | AFP | Getty ImagesAs tariffs spark worries of higher prices, Walmart is dangling more discounts for its own employees.The largest private U.S. employer said Wednesday that it will offer a 10% employee discount on nearly all groceries, including milk, meat and frozen food. That discount previously applied to fresh produce and most general merchandise items, such as clothing and toys, but only to other food during the holiday season.In a memo to employees obtained by CNBC, Walmart’s chief people officer, Donna Morris, said the…

Groceries are seen at a Walmart supermarket in Houston, Texas, on May 15, 2025.Ronaldo Schemidt | AFP | Getty ImagesAs tariffs spark worries of higher prices, Walmart is dangling more discounts for its own employees.The largest private U.S. employer said Wednesday that it will offer a 10% employee discount on nearly all groceries, including milk, meat and frozen food. That discount previously applied to fresh produce and most general merchandise items, such as clothing and toys, but only to other food during the holiday season.In a memo to employees obtained by CNBC, Walmart’s chief people officer, Donna Morris, said the…

Moody’s said on Wednesday it had raised Pakistan’s credit rating by one notch to ‘Caa1’ from ‘Caa2’ due to an improving external financial position and it assigned the country a “stable” outlook. The announcement came within hours of Finance Minister Muhammed Aurangzeb saying there was more room for the central bank to cut the country’s key policy rate from 11% on the back of positive economic indicators. “The credit rating’s improvement is a sign that economic policies are heading toward the right direction,” Prime Minister Shehbaz Sharif said in a statement. Also Read: Aurangzeb vows to close tax loopholes, boost…

CoreWeave’s stock dropped 18% after the renter of artificial intelligence data centers reported a bigger-than-expected loss.In its second quarterly financial results as a public company, CoreWeave reported an adjusted loss of 27 cents per share, compared to a loss of 21 cents per share expected by analysts polled by LSEG.CoreWeave’s results came as the lock-up period following its initial public offering is set to expire Thursday evening and potentially add volatility to shares. The term refers to a set period of time following a market debut in which insiders are restricted from selling shares.”We remain constructive long term and are…

US President Donald Trump speaks during the unveiling of the Kennedy Center Honors nominees on August 13, 2025, at the Kennedy Center in Washington, DC. Mandel Ngan | Afp | Getty ImagesPresident Donald Trump on Wednesday shrugged off a question about a new report that Russia is at least partially responsible for hacking the electronic system that manages U.S. federal court case documents.”Are you surprised?” Trump said during a press event at The Kennedy Center.”They hack in, that’s what they do,” he said about Russia.”They’re good at it, we’re good at it, we’re actually better at it.”Revelations of the breach…

At least 73 Palestinians were killed by Israeli forces in Gaza in the past 24 hours, medics said, while two more — including a six-year-old child — died from starvation caused by Israel’s blockade in the enclave. Those killed on Tuesday included 19 aid seekers, as the European Union and 26 countries, including Canada, France and the United Kingdom, condemned the “unimaginable levels” of suffering in Gaza and called for urgent action to halt and reverse the unfolding famine in the war-torn territory, Al Jazeera reported. Survivors of the latest attacks on aid seekers, which took place near the Zikim…