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Vegan meat company takes a bite out of profits



In the face of dwindling demand for plant-based meat products due to rising living costs, Beyond Meat has suffered a significant setback.

The vegan meat giant, once celebrated in the stock market, has been forced to reduce its annual revenue forecast and has fallen short of second-quarter net sales estimates.

Backed by both investors and celebrities, Beyond Meat has encountered a decline in sales over the past year. The company’s growth trajectory has been marred by difficulties in executing its vision, resulting in production mishaps and escalating expenses.

The shift in consumer sentiment toward Beyond Meat’s offerings is influenced by various factors, including concerns about health impacts and external interest groups that have sowed doubt about the ingredients and processes used in creating plant-based meats.

Shares drop

CEO Ethan Brown acknowledged these challenges in a post-earnings call, noting that changes in consumer attitudes were not solely organic but also influenced by external sources.

Beyond Meat’s shares experienced an eight percent drop in extended trading on Monday.

The company’s revised revenue forecast for 2023 stands between A$550 million and A$580 million, a significant reduction from the earlier projection of A$570 million to A$640 million.

Beyond Meat now anticipates missing its goal of achieving positive cash flow operations in the latter half of 2023.

Arun Sundaram, a research analyst at CFRA, commented that substantial changes are needed to avert further decline.

He expressed disappointment at the guidance cut, especially considering the promising start the company had this year.

In an effort to regain its customer base, Beyond Meat has been “testing” price cuts, offering its core products at prices comparable to traditional meat counterparts. This strategy is part of the company’s bid to recover lost ground.

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What will it take for the Fed to cut rates?



Leading economists anticipate a potential shift in the Federal Reserve’s monetary policy, shedding light on the timeline for an interest rate reduction.

Financial experts and analysts have closely examined economic indicators, which suggest that a change in the Fed’s stance may be on the horizon. Factors such as inflationary pressures, employment rates, and GDP growth have all been scrutinized to ascertain when the central bank might decide to cut interest rates.

The consensus among these experts is that a rate cut could occur within the next six to nine months. They point to the Federal Reserve’s commitment to maintaining a flexible approach, adjusting policies as needed to support economic stability. With inflationary concerns still looming and the labor market showing signs of recovery, the timing of a potential rate cut remains a key topic of discussion among financial circles.

The Federal Reserve’s decision on interest rates can have a profound impact on financial markets, investments, and borrowing costs. As such, investors and businesses are keeping a keen eye on developments in this regard, preparing for potential changes in their financial strategies.

Kyle Rodda from spoke with Ticker’s Ahron Young. #featured

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Bank accidentally deposits $86M into client’s account



A financial institution mistakenly deposited over $86 million into a client’s account, causing shockwaves in the banking industry.

The error came to light when the client, a small business owner, checked their account balance and discovered the astronomical sum. It is being hailed as one of the most significant banking errors in recent memory.

The client, who wishes to remain anonymous, reportedly contacted the bank immediately upon noticing the massive windfall. Bank officials were left scrambling to rectify the error, which has raised numerous questions about the institution’s internal controls and safeguards.

The client’s account, initially holding just a few thousand dollars, suddenly displayed a balance that could buy luxury yachts, mansions, and more.

The incident has prompted investigations by regulatory authorities to determine how such an egregious error occurred in the first place.

While the bank has issued an apology and assured the client that the funds will be corrected to the proper balance, it remains unclear how this mistake could have happened on such a colossal scale.

The financial institution may also face potential legal consequences for the error, as well as reputational damage that could impact its future business.

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Tech giants drive global mega-cap surge amid inflation relief



Tech giants have taken the lead in propelling global mega-cap stocks to new heights.

This surge comes as a welcome relief for investors who have been closely monitoring the impact of rising inflation on the financial markets.

The tech sector, including giants like Apple, Amazon, and Microsoft, has been instrumental in driving the rally. These companies have reported robust earnings and strong growth prospects, which has boosted investor confidence. As a result, the market capitalization of these tech behemoths has reached unprecedented levels, contributing significantly to the overall rise in global mega-cap stocks.

The easing of inflationary pressures has played a pivotal role in this resurgence. Central banks’ efforts to tame inflation through monetary policy adjustments have begun to bear fruit, reassuring investors and stabilizing financial markets. As concerns over rapidly increasing prices recede, investors have become more willing to invest in mega-cap stocks, particularly in the tech sector, which has demonstrated resilience in the face of economic challenges.

Will the tech giants maintain their momentum and continue to lead the mega-cap surge, or are there potential risks on the horizon?

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