Business

(Reuters) – Michael Kors Holdings Ltd (KORS.N) reported better-than-expected profit for the first quarter as it cut down on promotions and sold more premium handbags, and lifted its full-year revenue forecast, sending the company’s shares up as much as 22 percent. Once the hottest name in affordable luxury, Kors has been grappling with declining same-store
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MOSCOW (Reuters) – Russia said on Saturday the European Union’s decision to sanction a Russian deputy energy minister over the delivery of Siemens’ turbines to Moscow-annexed Crimea was politically motivated and illegal. The EU first imposed sanctions on Russia after the 2014 military annexation of Crimea from Ukraine. On Friday, it introduced additional measures in
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(Reuters) – Warren Buffett’s Berkshire Hathaway Inc on Friday reported a 15 percent drop in second-quarter profit, as lower investment gains and a loss from insurance underwriting offset improvement in its BNSF railroad business. Operating profit also fell short of analyst forecasts, though Berkshire attributed much of the decline to currency fluctuations and its accounting
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