Author: i2wtc

Darden Restaurants on Thursday reported mixed quarterly results, as Olive Garden and LongHorn Steakhouse helped offset weakness in its fine-dining business.The company also raised its full-year forecast for revenue growth, although it only reiterated its projections for its earnings. Shares of the company fell more than 9% in morning trading.Here’s what the company reported for the quarter ended Aug. 24 compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Earnings per share: $1.97 adjusted vs. $2 expectedRevenue: $3.04 billion, in line with expectationsDarden reported fiscal first-quarter net income of $257.8 million, or $2.19 per share, up…

The stock market hit record high after record high over the past month as Wall Street anticipated a Federal Reserve interest rate cut that finally came. Investors got answers Wednesday afternoon, a day before our September Monthly Meeting, which will be livestreamed at noon ET . The Fed announced a quarter percentage point reduction — the first since Dec. 2024. After an initial pop, the S & P 500 and Nasdaq finished down slightly as Fed Chairman Jerome Powell hinted that Wednesday’s cut doesn’t guarantee the start of a full-blown rate-lowering cycle. Both stock indexes were only just shy of…

HYDERABAD/LAHORE: The Indus River continued to experience a low-level flood at Kotri Barrage, while inflows declined at Guddu and Sukkur barrages amid return of normalcy in the rivers in Punjab, flood data provided by the irrigation and disaster management officials on Wednesday. According to Flood Forecasting Division, inflows at Kotri were increasing slightly but despite this limited rise, no increase was made in downstream discharges over the past 24 hours. Also there was a sharp decline at Guddu Barrage, resulting in reduced inflows at Sukkur Barrage. From 6pm Tuesday to 6pm Wednesday, inflows at Kotri Barrage rose by only 3,535…

Coinbase CEO Brian Armstrong and other crypto executives took to Capitol Hill this week as part of a regulatory showdown between the industry and banks with potentially trillions at stake.Banking advocacy groups are urging lawmakers to prohibit crypto exchanges like Coinbase from offering customers rewards that are structured like interest payments banks offer.”I’m not sure why the banks would want to bring that up again at this point, but they should have to compete on a level playing field in crypto,” Armstrong told CNBC on Wednesday.Coinbase currently offers a 4.1% reward for those holding USDC stablecoin. Kraken offers a 5.5%…

Federal Communications Commission Chairman Brendan Carr on Thursday said that ABC late-night host Jimmy Kimmel appeared to “mislead” the American public about facts regarding conservative activist Charlie Kirk’s killing in the days leading up to his show’s suspension.ABC on Wednesday night said it was pulling “Jimmy Kimmel Live!” off the air “indefinitely” as a result of the host’s comments, which linked Kirk’s alleged killer, Tyler Robinson, to President Donald Trump’s “Make America Great Again” movement.”The issue that arose here, where lots and lots of people were upset, was not a joke,” Carr said during an interview Thursday with CNBC’s “Squawk…

Show host Jimmy Kimmel delivers his opening monologue at the 96th Academy Awards in Hollywood, Los Angeles, California, U.S., March 10, 2024.Mike Blake | ReutersPresident Donald Trump’s pressure on media companies appears to be mounting.On Wednesday, the Walt Disney Company pulled “Jimmy Kimmel Live!” off the air “indefinitely” from its ABC network after the host made comments linking the alleged killer of conservative activist Charlie Kirk to Trump’s MAGA movement.The move is drawing comparisons to CBS’s cancellation of “The Late Show With Stephen Colbert” in July and raising questions about the protection of free speech in a Trump-era broadcast environment. “We hit…

Bintou Keita (L, front), the top UN envoy in the Democratic Republic of the Congo (DRC) who heads the United Nations Organization Stabilization Mission in the DR Congo (MONUSCO), shakes hands with a member of the Chinese peacekeepers at the camp of the engineering company of the Chinese contingent on the outskirts of Bukavu, the capital of the eastern province of South Kivu, the DRC, April 9, 2024.(The 27th Chinese Peacekeeping Contingent to MONUSCO/Handout via Xinhua)BEIJING, Sept. 18 (Xinhua) — An African child gives a thumbs-up at the camera, surrounded by a dozen peers, all beaming at a soldier in…

PESHAWAR: Pakistan Tehreek-e-Insaf (PTI) Chairman Barrister Gohar Ali Khan has called on the Supreme Court to take notice of the suspension of Islamabad High Court (IHC) Justice Tariq Jahangiri, terming the move “unconstitutional and damaging for judicial independence.” Speaking to the media at Peshawar High Court, Barrister Gohar said personal differences among judges, which were once confined to chambers and letters, have now spilled into open confrontations in courtrooms. “For us, every door has been shut. We have reached a dead end, and the only option is to seek justice from the courts. Any extra-constitutional step is unacceptable,” he remarked.…

RAWALPINDI: The military claimed on Wednesday to have eliminated five terrorists linked to the “Indian proxy network Fitna al Hindustan” during an intelligence-based operation (IBO) in the Khuzdar district of the volatile Balochistan province. The state has designated Balochistan-based groups as Fitna-al-Hindustan to highlight India’s role in terrorism and destabilisation across Pakistan. The IBO was launched on the night between September 14 and 15 following reports of terrorists’ presence in the area, the military’s media wing said in a statement. “During the conduct of the operation, own forces effectively engaged the terrorists’ location, and after an intense fire exchange, five…

Deliveroo CEO Will Shu.Aurelien Morissard | IP3 | Getty ImagesLONDON — Deliveroo CEO Will Shu is set to step down from the food delivery company he co-founded over a decade ago.Shu, who established Deliveroo in 2013 with childhood friend Greg Orlowski, said Thursday that he will step down as CEO after its takeover by U.S. rival DoorDash is completed.DoorDash announced its deal to buy the British online takeout platform in May. The acquisition values Deliveroo at £2.9 billion ($4 billion).”I have decided that now is the right time for me to step down,” Shu said in a statement Thursday. “Taking Deliveroo from…