Dollar Tree sees weak 2023 profit as costs mount, shoppers curb spending

By Ananya Mariam Rajesh (Reuters) -Dollar Tree Inc forecast annual profit well below estimates on Wednesday, as the discount store operator battles higher wages and freight costs while consumers cut back on discretionary items. With the U.S. on the verge of recession, rising rental and consumer prices have forced shoppers to rethink their purchases and …

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South African rand gains as China data boosts risk-taking

JOHANNESBURG (Reuters) -The South African rand gained on Wednesday after China’s manufacturing activity expanded at its fastest pace since April 2012, fuelling risk-on appetite globally. At 1540 GMT, the rand traded at 18.1575 against the dollar, about 1% stronger than its previous close. China is South Africa’s largest trading partner, so positive news about the …

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Reckitt’s sales beat estimates on higher prices, infant formula

By Richa Naidu LONDON (Reuters) – Reckitt Benckiser, maker of Dettol and Lysol cleaning products, on Wednesday marginally beat full-year like-for-like net revenue expectations, helped by higher prices and its nutrition and health businesses. The company said it would target like-for-like net revenue growth of mid-single digits for 2023, excluding the substantial boost its 2022 …

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What has changed? Pro-Brexit Conservatives question UK PM Sunak’s deal

By Elizabeth Piper and Alistair Smout LONDON (Reuters) – A small group of pro-Brexit Conservative lawmakers are swimming against the tide of almost universal approval for a new deal between Britain and the EU on trade rules for Northern Ireland, questioning whether it fundamentally changes anything. After more than three years of wrangling over the …

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U.S. construction spending falls in January

WASHINGTON(Reuters) – U.S. construction spending unexpectedly fell in January as investment in single-family homebuilding continued to decline. The Commerce Department said on Wednesday that construction spending dipped 0.1% in January after dropping 0.7% in December. Economists polled by Reuters had forecast construction spending rising 0.2%. Construction spending increased 5.7% on a year-on-year basis in January. …

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Italy’s Meloni urges EU to do more to halt people smuggling after tragedy

By Angelo Amante CROTONE, Italy (Reuters) -Italian Prime Minister Giorgia Meloni on Wednesday called on fellow European Union leaders to do more to halt illegal immigration and prevent further tragedies at sea, after dozens of people were killed in a shipwreck off Italy. Meloni, who heads a right-wing coalition, said criminal gangs and people traffickers …

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