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Hang Seng Index futures closed up 0.82% at 27,154.40 points in overnight trading, a premium of 230.78 points.On January 16th, Federal Reserve Chairman Schmid stated that interest rates should remain at a level that continues to put pressure on the economy in order to further cool inflation. Given that inflationary pressures remain evident, he favors maintaining a moderately restrictive monetary policy. He noted, "While the labor market has cooled, some degree of cooling may be necessary to prevent a worsening of the inflation outlook." Schmid reiterated on Thursday that further rate cuts are unlikely to stimulate hiring and asserted that the slowdown in growth is driven by structural factors, making the Fed best suited to provide assistance during cyclical recessions. Schmid said, "I dont think further rate cuts will effectively repair the cracks in the labor market—these pressures are most likely caused by structural changes in technology and immigration policies. Im concerned that rate cuts will have a more lasting impact on inflation as our commitment to the 2% target is increasingly being questioned."White House Press Secretary Levitt: Trump is closely monitoring the situation in Iran.White House Press Secretary Levitt: Trump is in the decision-making stage regarding the appointment of a Federal Reserve official, and he currently has several preferred candidates for the position. Trump will make a decision on the Fed Chair in the coming weeks.Federal Reserves Schmid: Inflation is overheating, and we are not complacent about the inflation problem.

Pernod Ricard Expects Digital Drive to Stimulate Growth

Aria Thomas

Jun 08, 2022 14:50

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Pernod Ricard (EPA:PERP) announced on Wednesday that it was betting on digital efforts, its portfolio of premium brands, and its distribution network to drive sales growth over the next five years.


Pernod, the second-largest spirits company in the world after Diageo (LON:DGE), stated that it will strive for organic sales growth of between 4 and 7 percent per year over the medium term.


Pernod, whose brands include Martell cognac, Mumm champagne, and Absolut vodka, reaffirmed its goal to increase operating profit margin by 50 to 60 basis points annually, assuming it can achieve annual organic sales growth of 4 to 7 percent in the medium term.


The corporation noted that its digital activities would entail more work to predict client preferences and industry trends using data.


Pernod Ricard has a Capital Market Day on Wednesday afternoon.

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