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Australian retailers are in for a sombre period this fiscal year as high interest rates squeeze household budgets, especially for discretionary spending, Citigroup said on Thursday, with expected further rate hikes likely to dent confidence even more. ....
Most stock markets in the Gulf rose in early trading on Monday after lawmakers in Washington reached a tentative agreement on the U.S. debt ceiling deal, although concerns about more Federal Reserve interest rate hikes capped gains. ....
Stock markets in the Gulf ended in different directions on Monday after U.S. lawmakers reached a tentative agreement on the debt ceiling, while concerns about more Federal Reserve interest rate hikes weighed on sentiment. ....
Best Buy Co Inc on Thursday posted a smaller-than-expected drop in comparable sales and said inflation-induced weakness in electronics should bottom out by the end of the year, sending shares of the top U.S. electronics retailer up 4%. ....
Gap Inc on Thursday reported a surprise profit in the first quarter, and its shares jumped 16% in extended trading as the apparel retailer cited restructuring efforts and easing supply chain costs. ....