Russian clothing brands plug gap left by Western rivals

By Roman Churikov MOSCOW (Reuters) – Russian designers and brands are helping the retail sector gradually recover from a turbulent 15 months of store closures and slumping demand, with new labels plugging the gap left by foreign rivals and shoppers tentatively returning. Hundreds of foreign retailers shut up shop in response to Russia despatching troops…

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SNB defends raising rates, says not to blame for Credit Suisse failure

(This May 31 story has been corrected to clarify that Jordan’s comment referred to another bank and not Credit Suisse, in paragraph 9) ZURICH (Reuters) – Swiss National Bank Chairman Thomas Jordan on Wednesday defended recent interest rate hikes to tackle inflation, saying they were neither damaging for Swiss financial stability nor responsible for the…

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Dollar General Cuts Annual Forecasts As American Shoppers Turn Cautious

(Reuters) -Dollar General Corp cut its full-year same-store sales and profit forecasts on Thursday as inflation-hit Americans, discouraged by higher prices for everything from home goods to consumables, tightened spending. The company’s shares slid about 9% in premarket trading after it also posted weaker-than-expected first-quarter results. American shoppers, economically strained by sticky food inflation, have…

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