Turkey Central Bank Cuts Key Rate By 200 Bps

Turkey’s central bank resorted to another sharp rate cut on Thursday, despite high inflation and weaker currency. The Monetary Policy Committee of the Central Bank of the Republic of Turkey governed by Sahap Kavcioglu, decided to cut the one-week repo rate by 200 basis points to 16.00 percent from 18.00 percent. Markets had expected a moderate 50 basis points reduction. […]

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US toy company battles supply chain crunch to save Christmas

American toy company battles supply chain crunch to save Christmas FOX Business’ Lydia Hu speaks with the CEO of American Plastic Toys Inc. about U.S. production and supply chain issues around the globe.  Many are worried that the holiday season will be a little less bright as the toy industry faces ongoing supply issues, but one American company is working […]

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Airline vaccine mandates: How will requirements affect holiday air travel?

Fox Business Flash top headlines for October 22 Check out what’s clicking on FoxBusiness.com. As October winds down, the time when Americans typically start booking flights home for the holidays is beginning to ramp up.  Traveling safely amidst the ongoing COVID-19 pandemic comes with stringent guidelines, including mask-wearing, social distancing and rules regarding vaccination against the coronavirus.  Air travel has […]

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Soaring used car prices suggest inflation headwinds to intensify

Economists claim US inflation will carry over into 2022 Cato Institute chair of understanding of economics Ryan Bourne joins ‘Kennedy’ to discuss concerns surrounding the U.S. economy amid supply chain crisis Surging used vehicle prices suggest inflation will strengthen in early 2022.  Wholesale used car and truck prices jumped 8.3% in the first 15 days of October compared to the […]

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UniFirst Q4 Net Income Rises

UniFirst Corporation (UNF) said its fourth-quarter operating income rose 10.1% year-on-year. Consolidated revenues were up 8.5% with revenue from Core Laundry Operations increasing 7.9%. Core Laundry Operations operating margin increased to 10.1% from 9.9%. The company noted that, during the quarter, its margins were pressured by the current inflationary environment as well as a rebound of certain costs that trended […]

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Yellen says Treasury will extend 'extraordinary measures' until Dec. 3 debt-ceiling deadline

Larry Kudlow: The debt ceiling showdown ‘Kudlow’ host discusses Democrats’ reckless tax and spending spree Treasury Secretary Janet Yellen told congressional leaders Monday she will extend extraordinary cash management measures to temporarily finance the U.S. government until Dec. 3, the new deadline for lawmakers to raise or suspend the debt ceiling or risk a first-ever default.  CONGRESS FACES FLURRY OF […]

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Southwest cancels more than a thousand flights, cites air-traffic control issues

Southwest CEO: Coronavirus sank business by 90% Southwest CEO on coronavirus impact  Southwest Airlines canceled more than 1,000 flights this weekend amid air traffic control issues and weather, and the airline has not given an update as to whether the cancellations may continue. "ATC issues and disruptive weather have resulted in a high volume of cancellations throughout the weekend while we […]

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Conagra Brands Q1 Profit Tops Estimates, Organic Sales Down 0.4%; Reaffirms FY22 Adj. EPS Guidance

Conagra Brands, Inc. (CAG) reported that its first-quarter adjusted net income attributable to company decreased 30.2% year-on-year driven primarily by the decrease in gross profit. Gross margin decreased 486 basis points to 25.4% in the quarter, and adjusted gross margin decreased 530 basis points to 25.4%. Organic net sales were down 0.4%, for the quarter. Looking forward, the company reaffirmed […]

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World leaders reach landmark global tax deal, setting 15% miminum rate

Steve Moore: Janet Yellen’s global tax deal ‘new low point’ Fox News contributor Liz Peek and economist Steve Moore discuss America’s tax rates on ‘Kudlow’ The Organisation for Economic Cooperation and Development on Friday announced a landmark agreement to overhaul international tax rules, with more than 130 nations agreeing to a 15% global minimum corporate tax rate and other policies […]

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Govt. directs fertiliser companies not to hike prices of DAP, other phosphatic nutrients

The government has allocated nearly ₹79,600 crore for fertiliser subsidies in the 2021-22 Budget Fertiliser Minister Mansukh Mandaviya has directed all manufacturers not to increase retail prices of DAP and other phosphatic fertilisers as part of the government’s efforts to ensure the availability of crop nutrients at affordable prices during the ongoing Rabi season, according to sources. The government, which […]

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