Beyond Inc. is cutting about 20% of its workforce as part of broader review of its cost structure, which comes after the company invested about $65 million in two retailers to help restore Bed Bath & Beyond's physical presence.
Jeffries was charged with running an international sex-trafficking ring while he was Abercrombie's CEO, according to a federal indictment that lists 15 John Doe victims.
The German steel company slashed its outlook for the third time this year, adding that it expects to report a pretax loss for 2024 amid sustained economic weakness.
The German business-software company's shares climbed more than 5% after it raised its revenue and earnings forecasts for the year on strong demand for AI.
Read about energy demand from data centers in Australia, Malaysia's proposed carbon tax and more in the latest Market Talks covering Energy and Utilities.
The Swedish defense company said demand remained high across its business units, but it noted significant strength in its dynamics division, which produces equipment such as ground combat weapons and missile systems.