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Odell Beckham Jr. returning to jersey number of his Giants heydey
You won’t want to miss these celeb-worthy Labor Day fashion sales: J.Crew, Madewell and more
You won’t want to miss these celeb-worthy Labor Day fashion sales: J.Crew, Madewell and more
Scott Bessent vows to ‘asphyxiate’ Iran with sanctions, taking away IRGC’s offshore accounts, luxury homes
US strikes Iran for second time in two days in battle for Strait of Hormuz
Sandra Bullock’s 2 kids make surprise appearances in ‘Practical Magic 2’: ‘Unbelievably proud’
Sandra Bullock’s 2 kids make surprise appearances in ‘Practical Magic 2’: ‘Unbelievably proud’
Shein IPO Flops As Fast-Fashion Empire Sees Growth Slowdown
Chinese online fast-fashion retailer Shein made its long-awaited Hong Kong market debut Tuesday, only to fall flat in what can only be viewed as a disappointing IPO plagued by investor concerns about slowing growth, rising costs and an increasingly challenged international business model.
"Shein's many challenges are well known to investors and likely behind the sharp share-price fall on IPO day," Vey-Sern Ling, managing director at Union Bancaire Privée, wrote in a note. "Growth is slowing and losses rising amid stiff competition from both e-commerce and fast-fashion players. More critically, its business model continues to be disrupted by evolving international regulations."
Shen Meng, director at Beijing-based investment bank Chanson & Co., said, "With investors favoring AI and technology-related plays in Hong Kong, Shein's appeal is relatively limited as a traditional e-commerce company that relies heavily on price competition," adding, "Rising costs linked to US-China trade tensions and a less compelling growth story than Alibaba or PDD are likely to keep its valuation at a discount."
Shein raised $1.7 billion in the offering, giving the Singapore-based retailer a market capitalization of around $26 billion. That represents a stunning $74 billion collapse from Shein's nearly $100 billion valuation during the COVID boom of 2022.
The IPO valued the company at more than 15 times estimated forward earnings, according to Bloomberg data. That is roughly double PDD Holdings' 7.4 multiple and above the Hang Seng Index's 10.7 multiple.
Shein shares initially plunged 10% during their debut earlier Tuesday before recovering most of those losses and ending the session flat.
In recent weeks, a Chinese robotics firm debuted in Shanghai with a blockbuster IPO, only to slide in subsequent sessions.
The stock is now down about 38% from its post-IPO peak.
Tyler Durden Tue, 09/01/2026 - 12:40OpenAI slams Apple trade-secret theft lawsuit as ‘baseless’: ‘A mess of Apple’s own making’
Jurassic Park mosquito fossil sells for over $400K at auction featuring legendary Hollywood props
Remi Bader raves about this ‘boob job bra’: ‘I’m in awe’
Remi Bader raves about this ‘boob job bra’: ‘I’m in awe’
Max Miller denies using Meta smart glasses to spy on ex-wife Emily’s lawyers in court
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Trump Admin Asks Appeals Court To Halt Block On USPS Mail-In Ballot Rule
Authored by Aldgra Fredly via The Epoch Times,
The Trump administration filed an emergency motion on Aug. 31 seeking a stay of a judge's ruling that blocked the U.S. Postal Service (USPS) from enforcing its requirements to tighten rules around mail-in voting.
The motion was filed in the U.S. Court of Appeals for the First Circuit shortly after U.S. District Judge Indira Talwani on Aug. 31 declined to pause her temporary restraining order. That order was issued on Aug. 28 in response to lawsuits from some states and voting rights groups challenging USPS's final rule on mail-in ballots.
At the time, Talwani said the rule was likely unlawful and violated the U.S. Constitution, which gives states the authority to administer elections.
The Department of Justice (DOJ) disputed the finding in its motion, noting that the final rule is "ultimately a regulation of the U.S. mail, and a modest one at that - not a federal takeover of election administration by the Postal Service."
"The rule's improvements and modernizations of USPS's infrastructure for supporting this particularly sensitive category of mail are fully consistent with USPS's statutory and constitutional authority," the DOJ stated.
The DOJ also said that keeping the temporary restraining order in place would cause the administration irreparable harm because some states are set to begin sending ballots during the two weeks the order is in effect.
"Because federal defendants face imminent irreparable harm as soon as states begin to mail ballots - as early as September 4 - the government also requests an administrative stay while this court considers this motion," the department said.
Talwani on Aug. 31 rejected the DOJ's request to lift the restraining order, saying the "late timing" of the changes to state election practices is contrary to the public's need for "clear and settled" rules ahead of the Nov. 3 midterm elections, which are now just two months away.
The temporary restraining order, effective for 14 days, prevents the enforcement of certain sections of USPS's final rule for elections before or on Nov. 3.
The Postal Service issued the final rule on Aug. 21 to implement an executive order President Donald Trump signed in March. In the order, Trump wrote that the federal government has a duty to maintain public confidence in election outcomes and that additional measures are needed to enhance election integrity through U.S. mail.
Under the agency's rule, states must supply the agency with lists of mail ballot recipients, and all outbound and return ballot envelopes must bear unique barcodes.
The Postal Service, under the rule, may refuse to deliver ballots that do not comply with the new standards or are associated with voters who do not appear on the lists.
Naveen Athrappully contributed to this report.
Tyler Durden Tue, 09/01/2026 - 12:20‘Rich Dad Poor Dad’ self-help author Robert Kiyosaki is $1.2 billion in debt: report
Times Square Stabbing Victim Was Bank of America VP
One of the two victims of a Midtown Manhattan stabbing yesterday has been identified as a vice president in Bank of America's global corporate and investment bank division, the WSJ reports.
Erin Piacenti, 32, of New Jersey was in Times Square when an unhinged woman armed with knives attacked both Piacenti and a man shortly after 4:20 p.m.
"We are shocked and deeply saddened by the tragic loss of our colleague. She was a valued teammate who will be greatly missed," a BofA spokesman said. "Our hearts go out to her family and all of her loved ones."
The 68-year-old man who was also stabbed was in stable condition at Bellevue hospital.
The attacker was identified as Pamela Cisneros, 49. She was shot while walking towards the police brandishing two larger knives, taken to Bellevue, and died.
* * *
Unhinged middle-aged women are hitting the news feeds hard this month. NYC police were forced to shoot a woman dead this week after she pulled two knives from a shopping bag in the middle of Times Square and went on a random stabbing spree.
At least one 68-year-old man was severely injured and another 32-year-old female victim was killed after being stabbed in the abdomen.
The shooting happened just before 4:30 p.m. next to a New York Police Department substation, just outside One Times Square, the building that hosts the city’s annual New Year’s Eve ball drop celebration. It is one of the most heavily trafficked and policed spots in all of New York.
Today in Times Square when tasers don't work pic.twitter.com/aALVDZgYD0
— The E Man🇺🇸Street PHD (@DETECTIVE4LIFE) August 31, 2026Police first deployed tasers, but they were ineffective. The women, who remains unnamed by city authorities, charged at officers while swinging the knives wildly. No possible motive for the attack has been given, though, these days, it's often the case that there is no coherent motive.
Here's the exact moment a lady charged at NYPD officers with two knives.
Minutes before this took place the lady allegedly stabbed multiple people.
What happened to good citizens these days ? Why didn't someone walk up behind her and hit her over the head with something ?…
The attacker's name has not been officially released, though some sources identify her as Pamela Cisneros. Such info could be withheld for 48 hours or more if authorities have trouble finding and informing family members. Confirmation of identity could also be delayed due to the woman's immigration status.
Police did not say if the stabbing victims were tourists or residents. Videos posted on social media show a group of at least 10 officers gathered around the woman. Officers tried to convince her to drop the knives for several minutes before using a Taser.
The woman told them: “I’m not dropping anything, I would rather kill both of you..."
A similar incident occurred in July in the Upper West Side when Raul Morales, 51, was charged with randomly stabbing two men. Witnesses said he yelled “Allahu Akbar” during the attack. Mental health was cited and the event was swept under the rug by the media.
Tyler Durden Tue, 09/01/2026 - 12:18