CYCS08

First TVs, now tortillas: US companies set minimum prices to end discounts

First TVs, now tortillas: US companies set minimum prices to end discounts

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NEW YORK, Nov 17 (Reuters) – Makers of everything from toys to tortillas are increasingly setting minimum prices on their products to maintain profits and limit price cuts as retailers like Walmart Inc (WMT. N) and Amazon.com Inc (AMZN.O) are trying to corner online sales. As a result, shoppers are enjoying fewer discounts on everyday …

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Wall Street ends lower after Target outlook and Micron bid cut

Wall Street ends lower after Target outlook and Micron bid cut

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October retail sales rise more than expected Target’s bleak outlook weighs on retailers Micron supply cut triggers chip sell-off Indices down: Dow 0.12%, S&P 0.83%, Nasdaq 1.54% Nov 16 (Reuters) – Major Wall Street indexes ended lower on Wednesday as a gloomy outlook for Target sparked fresh concerns over retailers ahead of the crucial holiday …

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US retail sales increase steadily; increase in GDP estimates in the fourth quarter

US retail sales increase steadily; increase in GDP estimates in the fourth quarter

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Retail sales rise 1.3% in October Core retail sales increase 0.7%; September sales revised upwards Import prices fall for the fourth consecutive month Manufacturing production increased by 0.1%; previous months revised downwards WASHINGTON, Nov 16 (Reuters) – U.S. retail sales rose more than expected in October as households stepped up purchases of motor vehicles and …

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Exclusive: Tesla plans to export Chinese-made electric vehicles to US sources

Exclusive: Tesla plans to export Chinese-made electric vehicles to US sources

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SHANGHAI, Nov 11 (Reuters) – Tesla (TSLA.O) is considering exporting Chinese-made electric cars to the United States, two people with knowledge of the planning told Reuters, a reversal that would reflect the growing cost advantage automaker at its Shanghai plant and slowing demand from Chinese consumers. Tesla has been investigating whether parts made by its …

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Musk warns of Twitter bankruptcy as more top executives quit

Musk warns of Twitter bankruptcy as more top executives quit

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November 10 (Reuters) – New owner of Twitter Inc, Elon Musk, on Thursday raised the possibility of the social media platform going bankrupt, capping a chaotic day that included a warning from a U.S. privacy regulator and the exit from the leader in enterprise trust and security. The billionaire in his first mass call with …

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As Musk Focuses On Twitter, His $56 Billion Tesla Salary Is On Trial

As Musk Focuses On Twitter, His $56 Billion Tesla Salary Is On Trial

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WILMINGTON, Del., Nov 7 (Reuters) – As Elon Musk is engulfed in his redesign of Twitter, the entrepreneur is heading for a lawsuit to defend his record $56 billion Tesla Inc salary against allegations that he enriches him unjustly without requiring his full-time presence with the builder. A Tesla shareholder TSLA.O is seeking to rescind …

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Apple warns of falling iPhone shipments as COVID curbs Chinese factory

Apple warns of falling iPhone shipments as COVID curbs Chinese factory

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Apple expects lower shipments of iPhone 14 Pro and Pro Max Apple says factory in China is operating at greatly reduced capacity Apple supplier Foxconn revises down its outlook for the fourth quarter TAIPEI, Nov 7 (Reuters) – Apple Inc (AAPL.O) expects shipments of high-end iPhone 14 models to fall from what was expected following …

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Buffett's Berkshire loses money as stocks and Hurricane Ian offset rising demand

Buffett’s Berkshire loses money as stocks and Hurricane Ian offset rising demand

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Nov 5 (Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) posted a $2.69 billion third-quarter loss on Saturday, rising inflation, falling equity investment and a steep loss due to Hurricane Ian, which offset the improvement in many of the conglomerate’s businesses. Operating income nevertheless increased by 20%, exceeding analysts’ forecasts. Berkshire benefited from higher demand …

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Toyota cuts production target amid chip slump as profits fall 25%

Toyota cuts production target amid chip slump as profits fall 25%

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Q2 profit of 562.7 yen mv vs. 772.2 yen mth forecast Reduced production target for the year to 9.2 million units from 9.7 million It’s unclear when the chip shortage will end – executive Results ‘very unimpressive’ given positive factors – analyst Shares end down 1.9%, benchmark Nikkei up 0.3% TOKYO, Nov 1 (Reuters) – …

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