HM Upbeat on June after Chilly Weather Hits Quarterly Sales

STOCKHOLM, June 15 Reuters HM posted slightly weakerthanexpected fiscal secondquarter sales on Thursday, but prospects for a better third quarter after a strong start in June sent shares in the Swedish retailer up by 6. HM said sales measured in local currencies for its MarchMay quarter were flattish, compared with the average analyst forecast for a […]
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ASOS says Strategy to Prioritise Profit is Working

Thirdquarter revenue down 14 Core earnings rose over 20 mln stg Keeps guidance for second half Shares up 14 LONDON, June 15 Reuters British online fashion retailer ASOS on Thursday reported a 14 drop in quarterly revenue but said its new strategy was starting to work as it returned to profitability, sending its battered shares higher. […]
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Microsoft Notches Record High Valuation of nearly 2.6Tr

NEW YORK, June 15 Reuters Microsoft Corp shares rose to a new record high close on Thursday as market optimism about the prospects of artificial intelligence AI has helped buoy the technology giant to a record market capitalization of 2.59 trillion. Microsoft is seen as a leader in the adoption of AI technology in the software […]
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Chinese eCommerce Giants Entice Cautious Consumers with Steep MidYear Discounts

Ecommerce platforms spend big on 618 shopping festival Competition fierce in 39;supersoft39; retail market analyst China39;s economy loses steam as consumption struggles to take off SHANGHAI, June 16 Reuters China39;s ecommerce platforms are competing fiercely in the country39;s first major shopping festival after the pandemic, offering steep discounts to entice frugal consumers in more worrying […]
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Micron says it is Committed to China, Invests 602M in Plant

SHANGHAI, June 16 Reuters U.S. memory chipmaker Micron said on Friday it was committed to China and would invest 4.3 billion yuan 603 million over the next few years in its chip packaging facility in the Chinese city of Xian. The company has been targeted by China39;s cyberspace regulator, which last month said the firm, the United States39; […]
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Yen Slips after BOJ Stands Pat, Soft Data Dents Dollar

SINGAPORE, June 16 Reuters The yen lost some ground after the Bank of Japan on Friday kept ultralow interest rates and forecast that inflation will slow later this year reiterating its dovish stance that runs counter to hawkish policies taken by peers globally. As widely expected, the BOJ maintained its 0.1 shortterm interest rate target and a […]
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