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The luxury fashion sector is currently facing significant challenges as economic and geopolitical uncertainties continue to persist. Hugo Boss recently cut its sales outlook, which caused its shares to drop by as much as 10%. This decision was driven by macroeconomic and geopolitical challenges, with specific mentions of struggles in the Chinese and U.K. markets.
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Recently, the German regulator BaFin accused Deutsche Bank of incorrectly disclosing deferred tax assets in its 2019 financial statement. According to BaFin, the declarations on deferred tax assets in the consolidated financial statement were incomplete, not meeting international accounting standards. Specifically, 2.076 billion euros worth of deferred tax assets were not disclosed separately in the
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Macy’s board of directors made the decision to end negotiations with the activist group looking to take the retailer private for $6.9 billion. The board cited concerns over the certainty of financing and the lack of compelling value in the proposal. Lead independent director Paul Varga expressed the board’s stance in a press release, highlighting
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Goldman Sachs, a financial giant, demonstrated its resilience and strength with its latest earnings report, surpassing profit and revenue estimates. The second-quarter profit saw a remarkable 150% increase from the previous year, reaching $3.04 billion. The earnings per share stood at $8.62, beating the LSEG estimate of $8.34 per share. The company’s revenue also exceeded
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