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Walmart has issued its second profit warning in 10 weeks, signalling a further deterioration in the US retail environment as inflation weighs on the price-sensitive consumers on whom the world’s largest retailer depends. “The increasing levels of food and fuel inflation are affecting how customers spend,” said Doug McMillon, Walmart’s chief executive. He said the
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The chemicals sector faces a £2bn hit of post-Brexit red tape, twice the cost of initial industry estimates, as Britain sets up its own regulatory regime, ministers have warned. While Liz Truss and Rishi Sunak have promised to “axe EU red tape” during the Tory leadership campaign, the cost of homegrown British red tape after
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Ukraine hopes to start implementing a deal to export millions of tonnes of grain from blockaded Black Sea ports as soon as this week, even after Russian missile strikes hit the key Ukrainian port city of Odesa and threatened to unravel the agreement. Preparations include demining essential areas for maritime traffic and setting up special
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Wall Street stocks wavered on Monday as cautious investors looked ahead to a week of big tech earnings and a crucial interest rate decision from the Federal Reserve. The blue-chip S&P 500 equity gauge switched from small gains to small losses in early trading, while the Nasdaq Composite index dipped 0.3 per cent, following a
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At VidCon conference, the annual gathering of digital creators in southern California, the most successful influencers mill around exclusive lounges, receiving free swag and posing for shoots on curated backdrops or spinning platforms. Jabria, Laurie and Zan are no different from other attendees in terms of their huge online presence. But unlike the others, who
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As evening draws in across Turkey’s frontier with Syria, the trickle of traffic passing through the Öncüpınar border checkpoint turns into a stream. Through one channel, dusty trucks, their loads long emptied, rumble northwards back into Turkey. Through another, Turkish civil servants and aid workers head home after a day’s labour in the war-devastated neighbouring
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The strong dollar has wiped billions of dollars off the second-quarter sales of US companies, prompting many to cut their guidance for the remainder of the year. The list of bellwethers stomaching multimillion- or billion-dollar hits has grown by the day after the US currency surged to its highest level in 20 years this month,
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Britain’s overseas aid programme has been thrown into confusion after the Treasury blocked “non-essential” new payments for the rest of the summer over concerns that the cost of relief work in Ukraine will breach a spending cap. Last year Boris Johnson’s government cut Britain’s overseas aid budget after the Covid pandemic, “temporarily” ditching a manifesto
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