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US Fed chair contender backs October rate cut
US Fed chair contender backs October rate cut
Economy
by  AFP

A top contender to run the US Federal Reserve threw his support Thursday behind a quarter-point rate cut later this month, claiming he believed inflation would soon cool. Cooling growth would support another cut, while doing so if the labor market strengthens could would risk reigniting inflation.

Armani names executive close to designer as new CEO
Armani names executive close to designer as new CEO
Economy
by  AFP

The Armani Group on Thursday named a senior manager who worked alongside Giorgio Armani to take over as chief executive of the luxury empire following the designer's death. For the past six years he had been reporting directly to Armani as deputy general manager and global chief commercial officer of the group.