Category: News

Shares Of Starbucks Drop 13% On Earnings Miss And Weak Outlook

The stock of Starbucks (SBUX) is down 13% after the retail coffee chain reported disappointing quarterly financial results and lowered its forward guidance. The Seattle-based company announced earnings per share (EPS) of $0.68 U.S. compared to $0.79 U.S. that was expected among analysts who cover the company. Revenue in the year’s first quarter totaled $8.56 billion U.S., which missed Wall Street forecasts of $9.13 billion U.S. Sales were down 2% from a year ago.Same-store sales fell 4% as traffic at Starbucks cafes declined 6% in the quarter. Analysts were anticipating same-store sales…

Sedgwick appoints Paul Burns Vice President of UK TPA Operations and Client Services in Canada

TORONTO, ON, MAY 1, 2024/insPRESS/ – Sedgwick, a leading global provider of claims management, loss adjusting, and technology-enabled business solutions welcomes Paul Burns to its Canadian operations as Vice President of UK TPA Operations and Client Services. Burns brings over 25…The post Sedgwick appoints Paul Burns Vice President of UK TPA Operations and Client Services in Canada appeared first on Canadian Underwriter.

Canada’s Economy Grew 2.5% In The First Quarter

Preliminary data released by Statistics Canada shows that the national economy grew an annualized 2.5% in this year’s first quarter. The quarterly result comes as gross domestic product (GDP) across Canada rose 0.5% in January, 0.2% in February, and was unchanged in March. The monthly GDP figures show a consistent pattern of economic slowdown, reinforcing expectations that the Bank of Canada will lower interest rates in coming months. Although Canada’s economy continues to expand and has avoided a recession, economists say that growth across the country is slowing as high interest rates…