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GSK profit drops in first quarter on higher costs
GSK profit drops in first quarter on higher costs
by  AFP

British drugmaker GlaxoSmithKline on Wednesday said its net profit fell 23 percent in the first quarter as the company faced higher exceptional costs compared with a year earlier. Following the update, the group's share price edged up 0.1 percent in early trading on London's top-tier FTSE 100 index, as the group also upgraded its full-year outlook for sales.

US Fed likely to keep rates steady as hopes of early cuts fade
US Fed likely to keep rates steady as hopes of early cuts fade
by  AFP

The US Federal Reserve is expected to hold interest rates steady for a sixth straight meeting Wednesday, with a summer start to cuts looking less likely owing to stubborn inflation. Analysts broadly expect an announcement on runoff to come this week or at the next interest rate meeting in June. bys/sst/dan

Weak yen boosts tourist wallets in Japan
Weak yen boosts tourist wallets in Japan
by  AFP

Foreign tourists are flocking to Japan in record numbers and thanks to a sliding yen many are living like kings, splashing out on everything from kimonos to knives and slap-up meals. "Thanks to the weak yen, foreign customers are buying a lot of handmade knives, even as prices rise," said Yuki Suzuki, 21, who works in a shop selling knives, another tourist favourite.

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