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The euro fell to a two-week low of 11.7779 against the Norwegian krone (EUR/NOK).The Russian Ministry of Defense stated that Russian forces attacked military industrial enterprises in Ukraine.According to RIA Novosti: Russian troops have occupied Zarichne in eastern Ukraine.Gold prices climbed again on December 24th, continuing their upward trend after hitting a record high in the previous trading session. Swissquote Bank senior analyst Ipek Ozkardeskaya pointed out that gold prices have broken historical highs more than 50 times this year, and the core factors driving the current price increase have not subsided. She stated, "Theoretically, the medium- to long-term outlook for gold remains optimistic."On December 24th, two Japanese government sources revealed that the Japanese government plans to reduce the issuance of new ultra-long-term government bonds to approximately 17 trillion yen in fiscal year 2026, the lowest level in 17 years. This move is intended to address market concerns about an oversupply of government bonds, with yields on ultra-long-term Japanese government bonds recently surging to record highs. The sources indicated that, as part of the new fiscal years bond issuance plan, the Ministry of Finance will also temporarily suspend increases in the issuance of benchmark 10-year Japanese government bonds. This adjustment highlights the Japanese governments sensitivity to the recent continued rise in government bond yields. Sources familiar with the matter said that the Ministry of Finance is considering reducing the monthly issuance of 20-year, 30-year, and 40-year Japanese government bonds by 100 billion yen each in fiscal year 2026. If this plan is implemented, the total annual issuance of ultra-long-term government bonds will fall to the lowest level since 2009 and is lower than the planned size for the current fiscal year ending in March 2026. The Ministry of Finance declined to comment.

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.