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Nordstrom cuts forecast after quarterly results miss big

BENGALURU: Nordstrom Inc cut its forecast for full-year sales and profit after reporting weaker-than-expected first-quarter results that were hurt by the roll out of a new loyalty programme and slow sales of full-priced women’s clothing.

Nordstrom, like other brick-and-mortar retailers, has fought to react to consumers moving toward fast-fashion brands and online sites like Inc rather than visiting malls.

Toyota’s Japan Taxi becomes an expensive Olympic symbol

TOKYO: Toyota Motor’s Japan Taxi, born in a government committee and designed to be an all-things-to-all-people cab, has become a high-priced icon of Tokyo’s budget-busting 2020 Olympic and Paralympic Games.

Toyota Motor Corp.'s JPN Taxi cars are parked in Tokyo, Japan.

US weighs blacklisting up to five Chinese surveillance firms

WASHINGTON: The US is considering cutting off the flow of vital American technology to as many as five Chinese companies including Hangzhou Hikvision Digital Technology Co, widening the dragnet beyond Huawei to include world leaders in video surveillance.

The US is deliberating whether to add Hikvision, Zhejiang Dahua Technology Co and several unidentified others to a blacklist that bars them from US components or software, people familiar with the matter said.

Thai economy faces greater political uncertainties

BANGKOK: Heightened political uncertainties in Thailand after an election meant to herald a return to democracy have clouded the outlook for economic policy, the central bank said in minutes of a meeting earlier this month that left interest rates unchanged.

American companies in China mull relocation or investment cuts

BEIJING: About a fifth of US companies in China are considering moving some or all of their production out of the country to deal with the trade tensions, and a third are delaying or cancelling investment decisions, according to a survey of 239 American firms in the market.

M&S shows pain of latest turnaround with profit fall

LONDON: Britain’s Marks & Spencer (M&S) reported a 10% fall in full-year profit, a third straight decline, along with falls in quarterly underlying sales of both clothing and food, showing the pain of its latest attempt at a multi-year turnaround.