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Nintendo Teases Switch Successor After Weak Guidance
Nintendo said it will announce a successor to its seven-year-old Switch videogame console after guiding for a significant profit drop this fiscal year on weaker device and game sales.The Wall Street Journal - Tech -
Weaker-Than-Expected Payrolls Push Down Dollar
The dollar fell in a week when the Fed was perceived as not too hawkish—after Chair Powell kept a rate hike off the table— and payrolls surprised to the downside, for a change.The Wall Street Journal - World -
South Korea cracks down on ‘shrinkflation’
Fines threatened for producers who cut product size without informing consumersFinancial Times - World - South Korea -
The Rocket Fuel Behind China Shock 2.0: Weak Currency, Deflation
Flat to falling prices coupled with inflation elsewhere and a lower exchange rate have turbocharged China’s export boom.The Wall Street Journal - World - China -
Eurozone Bond Weakness in April Was Mainly Driven by U.S. Treasurys
Eurozone government bonds remained primarily stuck in a bond-negative pull in April, emanating from the Treasury market, LBBW said.The Wall Street Journal - World -
Canada Dollar Weakness to Extend Into 2H on Rate Cuts, Asset Sales
The stage is set for continued Canadian dollar weakness, National Bank Financial said. Meanwhile, the U.S. dollar edged higher in afternoon trading in New York.The Wall Street Journal - World -
Late Start to BOE Rate Cuts Should Support Pound
The Bank of England’s first interest-rate cut is unlikely to happen till late summer at the earliest, according to market pricing, and any validation of this outlook from BOE officials would add fuel to the pound’s rally, Ebury said.The Wall Street Journal - World -
Spirit Airlines’ stock slides nearly 10% after air carrier’s quarterly loss, weak guidance
Airline is now focused on its future as a standalone business after its planned merger with JetBlue was called off in March.MarketWatch - Business -
Tyson Foods’ stock turns lower after sales miss, as chicken remains weak
Tyson Foods’ stock reversed course to trade sharply lower, after the meats company reported fiscal second-quarter sales that fell below expectations, as continued weakness in chicken and market-share losses offset a profit beat.MarketWatch - Business