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LVMH sales growth falters in third quarter
LVMH sales growth falters in third quarter
by  AFP

The world's top luxury group LVMH said Tuesday that its third quarter sales were nearly flat at 19.96 billion euros ($21.2 billion), a one percent increase from the same period last year. Sales at the group rose 15 percent during the January-June period compared with last year, to hit 42.2 billion euros.

Pre-election jitters send Argentine peso to new lows
Pre-election jitters send Argentine peso to new lows
by  AFP

The US dollar broke through the symbolic 1,000 peso mark on Argentina's parallel market on Tuesday, as citizens scramble to dump the currency two weeks before a presidential election, according to websites tracking the rate. With the parallel dollar now trading at over 1,000 pesos, it is worth almost three times the official rate of 365 pesos, propped up at great cost by the government.

Yellen urges more IMF, World Bank reforms for climate fight
Yellen urges more IMF, World Bank reforms for climate fight
by  AFP

US Treasury Secretary Janet Yellen said Tuesday she backed efforts to boost the lending firepower of the IMF and World Bank to combat poverty and climate change. Speaking on the sidelines of the IMF-World Bank annual meetings in Morocco, Yellen said the global lending system had already changed over time to face new challenges.

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