Latest news with #FSS
STV News
5 hours ago
- Health
- STV News
'Do not eat': Pesto product could cause serious food poisoning and be fatal
Scots are being urged not to eat a pesto product which could cause a 'serious form of food poisoning', and in some cases be fatal. Food Standards Scotland (FSS) warned consumers not to eat the 'Fresh Wild Garlic Pesto' from Fife-based Trotter's Independent Condiments. Health experts say there are concerns over the absence of procedures in place to control the bacteria Clostridium botulinum. Satisfactory manufacturing controls that prevent the growth and toxin production by the bacteria could not be demonstrated. Trotter's Independent Condiments Trotter's Fresh Wild Garlic Pesto. Trotter's Independent Condiments FSS say this means that the product could cause a serious form of food poisoning called botulism, and can be fatal in some cases. The warning affects the Fresh Wild Garlic Pesto product with a pack size of 230g and all best before dates. Get all the latest news from around the country Follow STV News Scan the QR code on your mobile device for all the latest news from around the country
The Hindu
9 hours ago
- Business
- The Hindu
Indian Navy holds ‘Steel Cutting' ceremony for fourth Fleet Support Ship at Hindustan Shipyard Limited in Visakhapatnam
'Steel Cutting' ceremony of fourth of the five Fleet Support Ships (FSS) was held at Hindustan Shipyard Limited (HSL) in the presence of Admiral Dinesh K Tripathi, Chief of the Naval Staff, as the chief guest, according to a release here on Saturday. Vice-admiral Rajesh Pendharkar, Flag Officer Commanding-in-Chief, Eastern Naval Command, and commodore Hemant Khatri, CMD, HSL, and other senior officials from Navy and HSL were present. The Navy had signed a contract with HSL for acquisition of five FSS in August 2023, with delivery commencing mid-2027. On induction, the FSS will bolster the 'Blue Water' capabilities of the Indian Navy through replenishment of Fleet ships at sea. The ships, with a displacement of more than 40,000 tons, will deliver fuel, water, ammunition and stores enabling prolonged deployments of the Fleet Ships, thereby enhancing the Fleet's strategic reach and mobility. In their secondary role, these ships would be equipped for Humanitarian Aid and Disaster Relief (HADR) operations and Non-Combatant Evacuation Operations (NEO) for expeditious delivery of relief material and evacuation of personnel. With a completely indigenous design and sourcing of majority of the equipment from indigenous manufacturers, the FSS project will boost the Indian Shipbuilding Industry in consonance with the Union government's initiatives of Aatmanirbhar Bharat, Make in India and Make for the World.
United News of India
2 days ago
- Business
- United News of India
Visakhapatnam: Steel Cutting of 4th FSS takes place at Hindustan Shipyard Ltd
Visakhapatnam, June 19 (UNI) Hindustan Shipyard Ltd (HSL) today said it has achieved a significant milestone with the steel cutting of the fourth Fleet Support Ship (FSS) for the Indian Navy. The ceremonial steel cutting was formally initiated by Admiral Dinesh K Tripathi, PVSM, AVSM, NM, Chief of the Naval Staff, in the presence of VAdm Rajesh Pendharkar, PVSM, AVSM, VSM, CINCENC and VAdm Rajaram Swaminathan, AVSM, NM, CWP&A, a release said here. The CNS lauded HSL's progress and stated that the FSS will be the second-largest indigenous warship after INS Vikrant. At 223 meters long and over 40,000T in displacement, it will enable fleet replenishment, helicopter operations, frontline maintenance, and HADR support—boosting naval endurance at sea. Amidst evolving security challenges, he stressed the need for a combat-ready, future-proof Navy. Highlighting that 59 of 60 naval ships under construction are being built in India, he reaffirmed the Navy's commitment to self-reliance and the Prime Minister's 'Maha Sagar' vision for secure, cooperative maritime growth. Cmde Hemant Khatri, C&MD of HSL, highlighted the strategic importance of the FSS project - awarded after a long gap and affirmed HSL's readiness to deliver, leveraging experience from INS Dhruv and Diving Support Vessels. The fourth FSS will be built on the upgraded slipway with a 300T Goliath crane, enhancing HSL's capacity for future large naval projects like LPDs, Hemant said. In FY 2024–25, HSL posted its best-ever financials with Rs 1,783 Crore income, Rs 284 crore PBT, and a positive net worth of Rs 493 Cr after 40 years. Notably, all four FSSs began construction within 22 months of contract signing, reflecting strong execution and growing momentum, he added.. With a healthy order book, modern infrastructure, and focus on indigenisation and quality, HSL is well-positioned to support Aatmanirbhar Bharat and 'Make for the World.' UNI KNR RN
Pink Villa
6 days ago
- Business
- Pink Villa
Bang Si Hyuk 400B KRW Stock Fraud Probe: Prosecutors reject 2nd raid on BTS' agency HYBE, know what's next
There is a significant development in the ongoing financial investigation involving HYBE founder and chairman Bang Si Hyuk. South Korean prosecutors have once again denied a police request to search HYBE's headquarters. The request was submitted as part of a deepening probe into potential securities fraud. The Seoul Southern District Prosecutors' Office refused to issue the warrant, offering no official explanation for their decision. This marks the second time investigators have been blocked from obtaining physical evidence from the entertainment giant's offices. Police's next plan This is not the first time police have tried to obtain a warrant. Their initial request was submitted in April but was turned down by the prosecution. After collecting additional testimony and reviewing financial records, authorities submitted a revised application. They were hoping for a different outcome, only to be met with the same rejection. According to sources within law enforcement, prosecutors may believe the current evidence lacks the weight needed to justify a raid on HYBE 's offices. That hasn't stopped the police, who are said to be preparing a third and more detailed warrant request. The core of the case The investigation centers around a 400 billion KRW (approximately 293 million USD) transaction. It took place in 2019, a year before HYBE's initial public offering. According to The Korea Economic Daily, the Financial Supervisory Service (FSS) uncovered key documents in the case. These suggest that Bang Si Hyuk encouraged early HYBE shareholders to sell their stakes. The buyers were reportedly a private equity firm run by one of his acquaintances. The controversy lies in what Bang allegedly failed to disclose: a secret 30% commission he received from the deal. It effectively earned him hundreds of billions of won while keeping investors in the dark. These profits reportedly did not appear in HYBE 's official financial disclosures filed ahead of the IPO. Misleading investors before IPO? Multiple shareholders have since come forward, alleging that Bang explicitly downplayed any plans for an IPO when persuading them to sell their shares. These investors claim they made financial decisions based on incomplete or misleading information. They were unaware that Bang and his team were already working behind the scenes to prepare HYBE for a stock market debut. Documents obtained by the FSS reportedly show that HYBE had begun securing audit certifications, legal consultations, and IPO-related filings at the time the shares were being sold. It directly contradicts what Bang allegedly communicated to shareholders. Once HYBE went public, its valuation soared, leaving those who sold early feeling duped and financially disadvantaged. Could Bang face jail time? The case is now being examined under the lens of South Korea's Capital Market Act. It prohibits the use of insider information and mandates full disclosure of any financial arrangements that may affect shareholder value. If prosecutors determine that Bang knowingly misrepresented HYBE's IPO intentions, he could be charged with securities fraud. The crime carries penalties ranging from hefty fines to life imprisonment.
Yahoo
10-06-2025
- Business
- Yahoo
DBX Q1 Earnings Call: Product Updates Offset Declining User Base and Macro Uncertainty
Cloud storage and e-signature company Dropbox (Nasdaq: DBX) reported Q1 CY2025 results topping the market's revenue expectations , but sales fell by 1% year on year to $624.7 million. Its non-GAAP profit of $0.70 per share was 12.6% above analysts' consensus estimates. Is now the time to buy DBX? Find out in our full research report (it's free). Revenue: $624.7 million vs analyst estimates of $620.2 million (1% year-on-year decline, 0.7% beat) Adjusted EPS: $0.70 vs analyst estimates of $0.62 (12.6% beat) Adjusted Operating Income: $260.5 million vs analyst estimates of $237.2 million (41.7% margin, 9.8% beat) Operating Margin: 29.4%, up from 22.7% in the same quarter last year Customers: 18.16 million, down from 18.22 million in the previous quarter Annual Recurring Revenue: $2.55 billion at quarter end, in line with the same quarter last year Billings: $636.8 million at quarter end, down 1.7% year on year Market Capitalization: $8.3 billion Dropbox's first quarter results reflected ongoing efforts to streamline its core file storage and document workflow businesses while prioritizing operating efficiency. CEO Drew Houston attributed performance to focused product improvements, such as easier onboarding and new features for teams, which drove higher-than-expected engagement even as paying users declined. Management highlighted enhancements to the desktop app and admin tools, noting that multi-surface users are more engaged and loyal. Product lineup simplification and strategic discounting were also implemented to improve retention, especially among self-serve customers. Houston acknowledged that reduced investment in FormSwift and marketing weighed on growth, but emphasized that targeted operational changes helped mitigate some headwinds. He explained, "We improved mission critical features that refine key workflows and reduce friction," contributing to better-than-anticipated results in the core business. Looking ahead, Dropbox's outlook focuses on scaling its AI-powered Dash platform and continuing to simplify its core offerings amid an uncertain macroeconomic environment. Management plans to invest in Dash's development and self-serve capabilities, aiming to unlock value across the company's large installed base. CFO Tim Regan stated that operating margin improvements are expected to be tempered by renewed spending on marketing and headcount to support Dash, while revenue guidance remains cautious due to potential volatility in demand and the impact of discontinued FormSwift marketing. Houston highlighted expanding Dash integrations and new compliance features as priorities, noting, 'We'll introduce select Dash functionality onto some of our FSS plans, accelerating our introduction to our large installed base of FSS customers.' Management remains mindful of macro risks but believes broad customer diversification will help navigate market uncertainties. Management attributed the quarter's performance to efficiency gains in its core business and early traction from new product initiatives, despite ongoing headwinds from user attrition and reduced marketing investment. AI-powered Dash expansion: The spring Dash update introduced search capabilities across images, videos, and other rich media, addressing the needs of creative professionals and differentiating Dropbox from competitors focused solely on text documents. Management highlighted strong initial interest, particularly in the creative services sector. Enhanced integrations: Dash now offers full integrations with key workplace apps such as Slack, Zoom, and Microsoft Teams, as well as creative tools like Canva and Jira. These integrations were prioritized based on customer feedback and are expected to increase Dash's utility and adoption. Operational efficiency focus: Strategic reductions in marketing for FormSwift and outbound sales in the core business contributed to improved operating margins. Tim Regan noted, 'headcount reduction from our RIF last fall and lower marketing spend following the strategic shift away from FormSwift' as primary drivers. Product simplification and retention: The company simplified its product lineup by reducing SKUs and aligning features with customer needs, which, along with targeted discounting to encourage annual plans, improved retention rates and admin satisfaction scores among business customers. Document workflow business mix: While DocSend delivered double-digit growth, Dropbox Sign continued to face competitive pressures. The company's efforts to improve onboarding and admin features led to better-than-expected performance in self-serve teams, despite ongoing declines in FormSwift users. Dropbox expects future performance to depend on scaling Dash, expanding integrations, and managing macroeconomic risks while maintaining disciplined investment in core efficiency. Dash monetization and adoption: Management is prioritizing the rollout of a self-serve Dash option and integration with existing file storage customers. While early feedback is positive, management acknowledged onboarding friction and the need to compress customer activation cycles. Drew Houston stated that making Dash easily accessible to Dropbox's extensive business base could be 'a big accelerant.' Macroeconomic and user decline risks: The uncertain macro environment and deliberate reduction in FormSwift marketing are expected to put pressure on paying user numbers and average revenue per user. Regan said guidance assumes a 1.5% decline in paying users for the year, with FormSwift accounting for roughly half of this. Investment in AI and integrations: Ongoing R&D and marketing investments in Dash, including the integration of the recently acquired Promoted AI team, aim to bolster machine learning and search capabilities. Management believes expanded integration and compliance features will be crucial for differentiation, especially as competition in AI-enabled content management intensifies. In future quarters, the StockStory team will watch (1) execution and adoption of self-serve Dash among Dropbox's existing customer base, (2) the pace of paying user declines and any stabilization in core file storage and document workflow segments, and (3) the effectiveness of new integrations and compliance features in driving customer retention and differentiation. Progress on scaling AI-driven capabilities and managing macroeconomic risk will also be critical signposts. Dropbox currently trades at a forward price-to-sales ratio of 3.5×. Should you double down or take your chips? The answer lies in our full research report (it's free). Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
