The listed fashion and shoe company Rizzo is filing for bankruptcy, according to a press release.
The company writes that it has tried to sell off assets and restructure to save the business.
- It is with great sadness that we unfortunately have to state that it is no longer possible, says board chairman Jonas Blomqvist in the press release.
Rizzo is reported to have a total of 59 stores in Sweden and Norway and approximately 160 employees are affected.
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Tesla's future
The Tesla bear triumphant: Tracks price crash at 91 percent
Hedge fund manager Per Lekander has shorted Tesla since 2020. After yesterday's weak delivery figures, he is venting morning air, writes CNBC.
- This was really the beginning of the end for the Tesla bubble, which was probably the biggest stock market bubble in modern times, he says.
Lekander predicts a price crash of 91 percent to $14. Since the company no longer has any growth, he believes that the forward-looking p/e ratio should drop from 58 to 10.
According to CNBC, Lekander is not alone in his pessimistic view. Even "Tesla bull" Dan Ives describes the delivery figures as a downright disaster. He worries that the long-term investment thesis may now crack.
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ECB vs inflation
Increasingly lower inflation in the eurozone
Inflation is now down to 2.4 percent in the eurozone on an annual basis in March according to new statistics from Eurostat. The figure can be compared with 2.6 percent in February and the market's average forecast of 2.5 percent.
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