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New offerings help Michael Kors sales and profit beat expectations

New offerings help Michael Kors sales and profit beat expectations

REUTERS: Handbag and accessories maker Michael Kors Holdings Ltd , one of hottest names in “affordable luxury”, reported better-than-expected second-quarter sales and profit, helped by new offerings such as cross-body satchels and large wallets. New store openings also helped sales rise nearly 7 percent in the three months ended Sept. 26, in line with the […]

November 4, 2015 | By | Reply More
Germany ups pressure on VW as scandal takes on new dimension

Germany ups pressure on VW as scandal takes on new dimension

FRANKFURT/BERLIN: German officials stepped up the pressure on Volkswagen to clean up its act on Wednesday after it revealed it had understated the fuel consumption of some vehicles, opening a new front in the crisis at Europe’s biggest carmaker. The company said late on Tuesday it had understated the level of carbon dioxide emissions in […]

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Wall St. set for higher open on strong private jobs data

Wall St. set for higher open on strong private jobs data

REUTERS: Wall Street was set to open higher on Wednesday after a report showed private sector job growth was stronger than expected last month, giving investors some optimism about the health of the labor market ahead of Friday’s nonfarm payrolls data. The ADP’s report on private employment showed an addition of 182,000 jobs in October, […]

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Exclusive: Target considers outside help for fresh food business

Exclusive: Target considers outside help for fresh food business

MINNEAPOLIS: Target Corp is seriously considering partnerships with outside companies to help shore up a creaky fresh food supply chain that has led to chronic shortages on store shelves. “There is an opportunity to use some partners who may be able to do things a little bit better,” Chief Operating Officer John Mulligan said in […]

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JTI, PMI expected to raise cigarette prices too

JTI, PMI expected to raise cigarette prices too

PETALING JAYA: Cigarette manufacturers JT International Bhd (JTI) and Philip Morris International (PMI) are expected to follow British American Tobacco (Malaysia) Bhd’s (BAT) lead in raising the prices of their cigarettes in the next few days. Yesterday, BAT raised the prices of all its cigarette brands by between 22% and 26% in reaction to the […]

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Mitsubishi to increase vehicle prices

Mitsubishi to increase vehicle prices

PETALING JAYA: Mitsubishi Motors Malaysia announced yesterday that prices for its vehicles will be increased by between 2% and 7%, effective the first quarter of 2016 in the wake of the weakening of the ringgit, the latest player in the industry to do so. Mitsubishi said in a statement the devaluation of the currency has […]

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Michael Kors sales, profit beat estimates; buyback raised

Michael Kors sales, profit beat estimates; buyback raised

REUTERS: Handbag and accessories maker Michael Kors Holdings Ltd reported better-than-expected quarterly sales and profit, and raised its share buyback program. The company’s shares rose 6.4 percent to US$41.85 in premarket trading on Wednesday. Kors, once a hot name in affordable luxury, has been offering deep discounts to entice shoppers in North America. Th company […]

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Chesapeake Energy posts third quarter loss on US$5.42 billion charge

Chesapeake Energy posts third quarter loss on US$5.42 billion charge

REUTERS: U.S. natural gas producer Chesapeake Energy Corp reported a quarterly loss, compared with a year-ago profit, as it wrote down the value of some oil and gas assets by US$5.42 billion. The company said net loss attributable to shareholders was US$4.69 billion, or US$7.08 per share, in the third quarter ended Sept. 30, compared […]

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AfDB and Unibank unveil US$15m line of credit for SMEs in Ghana

AfDB and Unibank unveil US$15m line of credit for SMEs in Ghana

Accra,Nov 4: Access to funding by Small and Medium Scale Enterprises (SMEs) in Ghana has received a significant boost following the announcement by the Board of Directors of the African Development Bank (AfDB) of the approval, in Abidjan, of a US$15m trade finance line of credit for UniBank Ghana (UniBank) to enhance its capacity to […]

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Japan PM calls for steps to achieve a US$5 trillion economy

Japan PM calls for steps to achieve a US$5 trillion economy

TOKYO: Japanese Prime Minister Shinzo Abe instructed the government on Wednesday to come up with an action plan by the end of the month to help achieve his goal of expanding the economy by a fifth to 600 trillion yen (US$4.95 trillion) over five years. Abe hopes that the measures should encourage Japanese firms to […]

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