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Recession fears weigh on markets as rising inflation bites – business live
Business | The Guardian May 19, 2022 | 01:10 amRolling coverage of the latest economic and financial newsLatest: FTSE 100 has fallen 2% this morningIntroduction: Recession fears weigh on marketsUS stock markets fall sharply as investors worry about recessionCost of living crisis: five tips for managing your moneyWomen face[…]
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Inflation hits small firms: ‘Covid was a walk in the park compared to this’
Business | The Guardian May 19, 2022 | 01:00 amAs inflation hits 9%, four English businesses explain how they are negotiating soaring pricesNotifications arrive every day at Loveone, an Ipswich gift shop, heralding price increases of 5% to 10% on products it sells, usually adding a couple of pounds[…]
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Melvin Capital, hedge fund torpedoed by the GameStop frenzy, is shutting down.
NYT > Business May 18, 2022 | 22:01 pmThe firm lost billions of dollars as it scrambled to cover its bets against the video game retailer that became a darling of retail traders.
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Ukraine war has stoked global food crisis that could last years, says UN
Business | The Guardian May 18, 2022 | 19:57 pmShortages of grain and fertiliser could cause ‘mass hunger and famine, says chief, as World Bank pledges another $12bn to ease shortfallSee all our Russia-Ukraine war coverageWhat we know on day 85 of the invasion The United Nations has warned[…]
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Omens of Decline for Russia’s Once World-Leading Energy Industry
NYT > Business May 18, 2022 | 19:34 pmSanctions have grounded Russia’s ambitious plans to build its liquefied natural gas capacity. Analysts say it’s a sign of problems ahead.
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Woman face ‘whopping pensions gap’ in Great Britain, says TUC
Business | The Guardian May 18, 2022 | 16:01 pmUnions call for action on ‘gender pensions pay gap day’, when women in Great Britain effectively start getting paidUnions have called on the government to take urgent action to fix a “whopping pensions gap”, as research showed women working in[…]
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Under Armour CEO Patrik Frisk to step down, interim chief to take over June 1
Business News May 18, 2022 | 15:56 pmUnder Armour said its president and chief executive officer, Patrik Frisk, will be stepping down, effective June 1.
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Stocks resume their rout as falling profits reignite fears of inflation.
NYT > Business May 18, 2022 | 15:48 pmTarget reported that inflation was taking a toll on its bottom line, a day after Walmart reported the same.
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Kohl's says two top executives are leaving, as company seeks buyer
Business News May 18, 2022 | 14:47 pmKohl's said it's losing two of its top executives, as the retailer searches for a potential buyer amid pressure from activists to sell the business.
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City watchdog to ensure banks provide access to cash across UK
Business | The Guardian May 18, 2022 | 14:30 pmRegulator could fine banks failing to offer withdrawal and deposit facilities within ‘reasonable’ distanceThe City watchdog will be handed powers to ensure local communities across the UK have access to cash and could ultimately fine banks that fail to comply.Under[…]
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Bath & Body Works shares fall as retailer cuts profit outlook due to inflation
Business News May 18, 2022 | 14:17 pmBath & Body Works cut its profit outlook for the year, in part due to expected increases in inflationary pressures.
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Amateur Investors Rode the Bull Up. Now the Bear Looms.
NYT > Business May 18, 2022 | 13:15 pmAn estimated 20 million people started trading on their own during the pandemic. Some are shifting strategies as stocks tumble, while others are getting out.
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Here's what Walmart, Target, Home Depot and Lowe's tell us about the state of the American consumer
Business News May 18, 2022 | 13:12 pmFour major retailers — Walmart, Target, Home Depot and Lowe's — reported quarterly financial results this week.
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Hasbro slams activist investor's proposed board directors as proxy battle heats up
Business News May 18, 2022 | 12:17 pmHasbro is going on the offensive against an activist investor wants to add new members to the company's board and spin off its lucrative Wizards of the Coast.
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How a Trash-Talking Crypto Founder Caused a $40 Billion Crash
NYT > Business May 18, 2022 | 10:06 amDo Kwon, a South Korean entrepreneur, hyped the Luna and TerraUSD cryptocurrencies. Their failures have devastated some traders, though not the investment firms that cashed out early.
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