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QuickBooks Down for Hundreds of Users on June 8, Sparking Business Disruptions

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Tim Cook
Quickbooks
QuickBooks Down for Hundreds of Users on June 8, Sparking Business Disruptions

NEW YORK — Intuit’s popular accounting software QuickBooks experienced widespread outages on Monday, leaving hundreds of small business owners and accountants unable to access accounts, process payments or manage financial records, according to multiple outage tracking services and user reports.

The disruption, first noted in the early afternoon, affected login attempts, dashboard loading and core functions such as invoicing, payroll and tax filing for many users across the United States. The @status_is_down account on X reported that “QuickBooks is reportedly down for hundreds of users at the moment,” linking to community discussions and prompting numerous confirmations from frustrated business owners.

DownDetector and other monitoring sites showed a sharp spike in reports, with the majority citing problems logging in, error messages, blank dashboards or complete service unavailability. Some users reported being able to log in intermittently only to encounter frozen screens or failed transaction processing.

Customer complaints highlighted the significant inconvenience during a busy workday. Many small business owners described being locked out of essential financial tools needed for payroll, invoicing and tax preparation. The outage appeared to impact both QuickBooks Online and desktop versions, with some users noting similar issues with associated Intuit services like TurboTax.

Intuit has not yet issued an official statement on the cause or expected resolution time. In past outages, the company has typically communicated through its status page, social media channels or in-app notifications once the issue is identified. Users are advised to check Intuit’s official status page or QuickBooks support accounts for updates as the situation develops.

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This marks another notable service disruption for Intuit in 2026. QuickBooks serves millions of small businesses and accountants, making its reliability critical for daily operations. Outages like Monday’s can cause significant financial and operational impacts, particularly for users with time-sensitive tasks such as payroll processing or tax filings.

The timing coincided with typical midday business activity, amplifying frustration among users who expected reliable access. Social media platforms filled with reports from affected customers, many expressing annoyance at the lack of immediate communication from Intuit.

QuickBooks is a cornerstone tool for small businesses, offering accounting, payroll, invoicing and tax preparation features. The service’s reliability is essential for users who depend on it for compliance and financial management. Disruptions like this highlight the challenges of maintaining global cloud-based infrastructure at massive scale.

For customers impacted, recommended steps include trying alternative access methods such as the desktop version versus online, clearing cache and cookies, or using different devices. In cases of prolonged outage, contacting Intuit support via phone may provide more direct assistance, though call volumes are often elevated during such events.

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The incident underscores the growing dependence on cloud-based business software and the importance of backup systems or contingency plans for temporary service interruptions, particularly for time-sensitive financial tasks.

Intuit has a history of addressing service issues promptly once identified, often with apologies and explanations posted on its status page. Monday’s event may prompt internal reviews to strengthen resilience and communication protocols during outages.

Broader context includes increasing scrutiny on major technology companies’ digital infrastructure reliability. As more businesses shift toward cloud-based tools, users expect high uptime and transparent communication when problems arise.

Monday’s disruption serves as a practical reminder for all QuickBooks users to maintain backup accounting methods and avoid relying solely on online platforms for critical financial tasks. While the service’s core functionality remains strong, occasional outages illustrate the vulnerabilities inherent in cloud-based systems.

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Affected users are encouraged to document any significant impacts, such as missed deadlines or financial disruptions resulting from the outage, in case compensation or adjustments become available. Intuit has occasionally offered goodwill gestures following notable service interruptions.

As the situation develops, users should continue monitoring official channels for updates. Alternative accounting software or offline modes may provide temporary relief for those with urgent needs.

The outage also sparked conversations about software redundancy and the importance of having contingency plans for popular business tools. Many users maintain multiple accounting platforms or backup records to mitigate risks from single-point failures in services like QuickBooks.

Intuit, a major player in financial software, continues investing in infrastructure, cybersecurity and user experience enhancements to minimize future disruptions. Monday’s event may accelerate efforts to improve service stability and scalability as user expectations evolve.

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For now, users are urged to remain patient while technical teams work toward full restoration. The company’s long history of supporting small businesses suggests a swift resolution is likely, though no specific timeline has been provided.

The incident adds to a growing list of major software service outages in 2026, underscoring the challenges of maintaining 24/7 availability at massive scale. As business operations become increasingly digital, reliability and transparent communication during incidents remain critical for maintaining customer trust.

Users experiencing issues are encouraged to try accessing QuickBooks periodically, as partial restorations often occur before full recovery is announced. In the meantime, documenting experiences can help if formal complaints or compensation requests become necessary.

Monday’s outage serves as a timely reminder for all cloud software users to maintain awareness of backup options and to avoid relying solely on one platform for critical business functions. As the situation evolves, updates from Intuit and user reports will provide further clarity on the scope and resolution of the disruption.

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Why is Tokyo Electron stock tumbling today?

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HUL shares slide over 6% after weaker-than-expected Q1; PAT dips 3% to Rs 2,673 crore on one-time credit

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HUL shares slide over 6% after weaker-than-expected Q1; PAT dips 3% to Rs 2,673 crore on one-time credit
Shares of FMCG major Hindustan Unilever (HUL) declined over 6% to Rs 2,034 on the NSE on Tuesday after the company’s first quarter earnings missed analyst estimates.

The company reported a 3% year-on-year decline in net profit to Rs 2,673 crore for the first quarter of FY27. The company said the decline in PAT resulted from a one-off tax credit in the previous quarter.

Revenue from operations, however, rose 10.2% year-on-year to Rs 17,149 crore in Q1 FY27, compared with Rs 15,552 crore reported in the corresponding quarter of the previous financial year.

HUL reported an underlying sales growth (USG) of 10%, driven equally by volume and price, marking the company’s highest growth in thirteen quarters.

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EBITDA for the quarter stood at Rs 3,947 crore, up 8% from Rs 3,640 crore in the year-ago quarter. However, the EBITDA margin declined 40 basis points to 23% from 23.4% in the same period last year, HUL said in its investor presentation.

HUL Q1 segment-wise performance

Home Care: Home Care delivered 14% USG, its highest growth in three years, driven by high-single-digit UVG. Disciplined market development and consumer-centric innovations helped strengthen market leadership while maintaining volume resilience.
Beauty & Wellbeing: The segment recorded 12% USG, supported by high-single-digit UVG. Hair Care posted double-digit USG, led by Premium Hair Care, including future formats, while continuing to strengthen market leadership. Skin Care and Colour Cosmetics delivered high-single-digit USG, driven by double-digit growth in Premium Skin Care.
Personal Care: Personal Care reported 4% USG, led by pricing as palm oil inflation persisted for the second consecutive year. Skin Cleansing recorded mid-single-digit USG, with Premium Bars delivering competitive volume-led double-digit growth. The segment also strengthened its market leadership in Bodywash.

Foods: Foods delivered 7% USG, driven by mid-single-digit UVG and continued strong performance in Lifestyle Nutrition and Coffee. Premium Tea recorded low-single-digit UVG, while Coffee delivered double-digit, volume-led growth, with RTD and Bru Gold continuing to scale up. Lifestyle Nutrition maintained its double-digit growth momentum. Boost crossed the Rs 1,000 crore annual turnover milestone, while Horlicks Superfoods and RTD continued to see encouraging traction.

HUL outlook

HUL expects FY27 to be better than FY26, led by portfolio and channel transformation. Commodity volatility continues to persist, with inflationary pressures expected to remain in the short term.

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The company expects consolidated EBITDA margin to remain around the current guided range, while its focus remains on driving competitive, volume-led revenue growth anchored to its key priorities.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Why is Koninklijke Philips stock tumbling today?

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Barclays profit surges as equity traders cash in on market volatility

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The FTSE 100 giant revealed it would launch a new £1bn share buyback after pre-tax profit jumped 17 per cent from the prior year

Barclays beat market expectations

Barclays beat market expectations

Barclays profit soared beyond forecasts in the second quarter as widespread market turbulence drove an exceptional showing in its equities trading arm.

The FTSE 100 banking giant announced it would initiate a fresh £1bn share buyback programme after pre-tax profit climbed 17 per cent year-on-year to £6.1bn over the first six months. The figure surpassed City analysts’ expectations of £5.9bn.

The British bank reported income for the three months ending in June of £8.2bn, representing a £2.1bn increase on the corresponding quarter last year.

The lender’s investment banking division capitalised on extensive market volatility during the second quarter triggered by the conflict in Iran, as reported by City AM.

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Revenue in the unit advanced 20 per cent, propelled by the showing of its global banking operations and investment banking fees. Overall investment banking income reached £3.95bn, exceeding the £3.65bn forecast by City analysts.

Revenue from its equities trading arm surged 45 per cent compared with the equivalent period last year to £1.26bn. That result lagged behind Wall Street banks, which posted an average 69 per cent rise in equities over the same timeframe, boosted by the substantial SpaceX initial public offering that helped drive US earnings.

Chief executive CS Venkatarishnan, known as Venkat, is pursuing an agenda to overhaul the bank’s investment banking operation, committing to reduce its proportion of group risk-weighted assets. Barclays‘ private bank and wealth management division (PBWM) also posted a five per cent rise in income to £713m, underpinned by growth in client balances.

Chris Beauchamp, Chief Market Analyst at investing and trading platform IG, said: “With the share price sitting at post financial crisis highs there is little room for error for Barclays, but these results provide the reassurance that the group is well-placed for the rest of the year.

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“A solid run for the investment banking division helps allay concerns around the size of the motor finance claims, and for now the bigger concern will be how the deeply uncertain outlook for the global economy will play out in the months to come.”

The bank declared a dividend of 5.9p per share, up from 3p per share in the previous year.

The lender also revised its 2026 income target upwards to approximately £31.5bn, citing “robust growth” within its investment banking arm.

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BHP, Port Hedland union wage talks end without deal, more talks planned

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Tredegar: Weak Fundamentals Persist, But Valuation Is Now Fair

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Tredegar: Weak Fundamentals Persist, But Valuation Is Now Fair

Tredegar: Weak Fundamentals Persist, But Valuation Is Now Fair

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Barclays H1 profit jumps 17% on strong trading, but shares dip

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Tata Power shares get Equal Weight rating from Morgan Stanley with target price of Rs 399

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Tata Power shares get Equal Weight rating from Morgan Stanley with target price of Rs 399
Shares of Tata Power were trading about 1% lower at Rs 373 during Tuesday’s session, even as Wall Street brokerage Morgan Stanley maintained its “Equal Weight” rating on the stock. The brokerage retained its target price of Rs 399 following the company’s decent Q1 FY27 performance, which saw net profit rise 11% year-on-year and revenue grow 8%.
In an exchange filing dated July 27, Tata Power reported a consolidated profit after tax (PAT) of Rs 1,401 crore for Q1FY27, compared with Rs 1,262 crore in the same quarter last year, marking an 11% year-on-year growth.

The company’s revenue from operations increased to Rs 18,898 crore in Q1FY27 from Rs 17,464 crore in Q1FY26, registering an 8% YoY growth. EBITDA also improved by 8% to Rs 4,249 crore from Rs 3,930 crore in the corresponding quarter.

Tata Power deployed its highest-ever quarterly capital expenditure of Rs 5,375 crore during Q1FY27 as it accelerated investments across renewable energy, transmission, distribution, and clean energy infrastructure.

The company’s core businesses, including Generation, Transmission & Distribution, and Renewables, delivered strong growth, supported by improved operational efficiency. These segments recorded a 12% increase in revenue, a 12% rise in EBITDA, and a 14% growth in PAT on a year-on-year basis.

Tata Power’s renewable energy segment continued to be a key growth driver, with PAT rising 15% YoY to Rs 612 crore in Q1FY27.
The company’s solar manufacturing business reported a sharp improvement, with Solar Cell and Module Manufacturing PAT jumping nearly 3.9 times year-on-year to Rs 371 crore.
The rooftop solar business also witnessed strong momentum, with PAT increasing 1.7 times YoY to Rs 145 crore, supported by higher adoption across consumer segments and nationwide project execution.
The Transmission & Distribution (T&D) business reported PAT of Rs 492 crore and EBITDA of Rs 1,541 crore in Q1FY27, reflecting growth of 11% and 14%, respectively.

Tata Power’s Odisha DISCOM operations posted PAT growth of 6% YoY to Rs 111 crore. The company also became the first private utility in the state to cross the milestone of one crore registered customers.

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The company is also progressing with its pumped hydro storage expansion plans, with 324 MW of the 1,000 MW Bhivpuri Pumped Storage Project capacity already tied up with the Solar Energy Corporation of India (SECI).

Morgan Stanley maintains ‘Equal Weight’ rating

According to an ET Now report, global brokerage firm Morgan Stanley has retained its “Equal Weight” rating on Tata Power with a target price of Rs 399.

The brokerage noted that Tata Power’s quarterly performance was broadly in line with expectations, supported by consistent earnings growth across its diversified business portfolio.

Management outlook

Dr Praveer Sinha, CEO and Managing Director of Tata Power, said the company is well positioned to participate in India’s transition toward reliable, round-the-clock clean energy. He highlighted the company’s integrated renewable energy approach combining solar, wind, battery storage, and pumped storage solutions.

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He added that capital expenditure worth over Rs 5,000 crore during the quarter has strengthened Tata Power’s growth roadmap, while milestones such as the return of Mundra plant operations, strong rooftop solar expansion, and cross-border energy partnerships reinforce its position as an integrated power major.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Harvey Norman fined $35m for 'seriously misleading' ads

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Harvey Norman fined $35m for 'seriously misleading' ads

A finance giant and a major retailer beamed thousands of unlawful, misleading ads into Australians’ loungerooms, causing “financially unquantifiable” harm.

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France braces for fourth major heatwave as crews tackle Bordeaux blaze

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