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Chinese Yuan Tumbles After PBoC Rate Cut, Fed Fears Hit Asia FX By Investing.com

© Reuters. By Ambar Warrick  Investing.com– China’s yuan sank further below key levels on Monday after more monetary easing in the country, while broader Asian currencies tumbled in anticipation of a Federal Reserve meeting later this week. The fell 0.4% to an over two-year low of 7.0080 to the dollar, its second day spent in breach …

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OPEC+ weighs rollover against small production cut, sources say

The logo of the Organization of the Petroleum Exporting Countries (OPEC) is pictured at its headquarters in Vienna, Austria, August 21, 2015. REUTERS/Heinz-Peter Bader/File PhotoRegister now for FREE unlimited access to Reuters.comRegisterOPEC+ meets on Monday to set policyIran nuclear deal could boost oil supplyRussia’s gas supplies to Europe cut furtherBrent crude falls to $95 from …

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Bed Bath & Beyond to cut jobs, close stores in bid to reverse losses

Aug 31 (Reuters) – Bed Bath & Beyond Inc (BBBY.O) on Wednesday said it inked deals for more than $500 million in new financing and that it would close 150 stores, cut jobs and overhaul its merchandising strategy in an attempt to turn around its money-losing business.Investors, however, remain concerned that the retailer’s plan, announced …

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Breakfast sales hold steady as people heading back to offices cut back elsewhere

Consumers may be dining out less, but breakfast sales are holding steady as people return to offices and grab a quick bite or iced coffee on the way to work.Overall traffic to restaurants fell 2% in the second quarter from a year ago as inflation drove menu prices up, according to market research firm The …

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China’s surprise rate cut, economic slowdown send oil prices plunging

Placeholder while article actions loadOil prices tumbled Monday after China’s central bank unexpectedly cut rates after data showed economic activity slowed broadly in July, including consumer spending and factory output, reigniting concerns of a global downturn.Signs of further cooling in the world’s second-largest economy, already under stained from China’s zero-covid policy and a real estate …

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Peloton to cut jobs, shut stores and raise prices in company-wide revamp

Aug 12 (Reuters) – Peloton Interactive Inc (PTON.O) said on Friday it would cut jobs, shut stores and raise prices on its exercise equipment including treadmills and top-end bikes as it undertakes a company-wide revamp to shore up its revenue and improve cash flow.Shares of the company surged about 11% in afternoon trade after the …

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