Bloomberg Intelligence estimates that Shein could be worth between $22 billion and $25 billion as the fast-fashion retailer prepares for a major initial public offering. The valuation is based on expected earnings of about $1.67 billion in 2027, with analysts projecting roughly 20% annual earnings growth through 2029. The estimate is well below Shein’s $66 billion valuation in 2023 and its peak valuation of about … Continue reading Shein Valued at $22 Billion to $25 Billion Ahead of IPO

Intel announced a $15 billion stock offering Monday to help fund its expansion and meet rising demand for artificial intelligence computing. The company said the funds will support capital expenditures, working capital and other corporate needs, with opportunities including physical AI, specialized chips and advanced packaging. Intel shares fell about 4% in morning trading following the announcement. AI infrastructure spending by major technology companies is … Continue reading Intel plans $15 billion stock offering as AI demand accelerates

Taylor Farms is recalling more than a dozen prepared food products containing jalapeños over concerns about possible Salmonella contamination. The recall follows a warning involving fresh jalapeños supplied by a grower in Sinaloa, Mexico, which is being investigated as a potential source of the contamination. The recalled items include salsa, guacamole, burritos, sandwiches and salads sold in 26 states, with best-before dates through August 16, … Continue reading Taylor Farms issued a recall for over a dozen items, including salsa and guacamole, over Salmonella risks

The U.S. Postal Service reported a $2.5 billion net loss for the fiscal third quarter, though the loss was nearly $600 million smaller than the same period last year. Postmaster General David Steiner is urging Congress to take action, warning that without reforms, USPS may need to reduce services, close thousands of unprofitable post offices and raise prices. Steiner said a proposed expansion adding dozens … Continue reading U.S. Postal Service reports $2.5 billion quarterly loss

Two Mercedes-AMG drivers have filed a class action lawsuit claiming the metallic AMG logo on certain driver’s seats can become hot enough to cause burns. The plaintiffs, Gabriel Lahijani and Karendeep “Karina” Bath, allege the raised logo can press against a driver’s back, neck or shoulder and cause thermal injuries. Both drivers reportedly suffered burns that left marks resembling the AMG logo on their skin … Continue reading Two drivers of Mercedes AMG cars file class action lawsuit over an alleged burn hazard in its logo

Jewel-Osco is recalling two fresh salsa products over concerns of possible salmonella contamination linked to recalled jalapeño peppers. The affected products are Chefs Kitchen Fresh Salsa and ReadyMeals Fresh Salsa with sell-thru dates from July 31 through Aug. 10. Customers are advised not to eat the recalled salsas and should either throw them away or return them to Jewel-Osco for a full refund. Salmonella can … Continue reading Jewel-Osco pulls 2 salsa products from shelves over jalapeño recall