Category: Hurt
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H&M abandons 2024 margin target as markdowns and costs hurt profit By Reuters
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By Mary Manis and Helen Reid STOCKHOLM (Reuters) – H&M (ST:) scrapped its profit margin target for 2024 as high discounting, costs and fierce competition hurt operating profit in the third quarter, sending shares in the world’s second-biggest fashion retailer down about 8%. H&M has struggled to boost profitability amid…
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Chevron moving to Texas, says California policies discourage investment and hurt consumers
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Justin Sullivan/Getty Images News Chevron (NYSE: CVXThe company’s shares turned negative for the year after the company reported second-quarter earnings that fell 26% year-over-year to $4.43 billion, missing Wall Street expectations, largely blaming weaker refining margins and refinery maintenance at a time when margins were stronger. Chevron CEO Mike Wirth…
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China’s surprise rate cuts will not hurt a fragile yuan, analysts say By Reuters
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SHANGHAI (Reuters) – China surprised markets by cutting a series of key short- and long-term interest rates on Monday in a bid to boost growth in the world’s second-largest economy. Analysts said the move showed that the yuan, which has been battered all year by its low yields versus U.S.…
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China’s surprise rate cuts will not hurt a fragile yuan, analysts say By Reuters
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SHANGHAI (Reuters) – China surprised markets by cutting a series of key short- and long-term interest rates on Monday in a bid to boost growth in the world’s second-largest economy. Analysts said the move showed that the yuan, which has been battered all year by its low yields versus U.S.…