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(Reuters) - Victoria’s Secret owner L Brands Inc (LB.N) on Thursday said it would close all 23 of its Henri Bendel stores and the Henri Bendel e-commerce website in January. The company cut its full-year earnings forecast in August, blaming falling demand for its PINK line of lingerie amid competition from brands such as American Eagle Outfitter’s (AEO.N) Aerie. The company expects Henri Bendel, which sells women’s handbags, jewelry and luxury fashion accessories, to bring in revenue of about $85 million for 2018. It did not provide any details on costs related to the closing of the business.
FORT WAYNE, Ind, (Reuters) - The Federal Reserve’s interest-rate hikes will begin to drag on U.S, economic growth and hermes cufflinks price in india employment by next year, a U.S, central banker said Friday, as the level of borrowing costs appropriately turns “mildly restrictive” after more than a decade of acting as a stimulant, The remarks, from Chicago Federal Reserve Bank President Charles Evans, mark a turning point in the thinking of a policymaker who as recently as this past spring was trying to convince his colleagues to stop raising rates to give the economy and inflation a bit more room to run..
But on Friday, Evans said he believes that rates should continue to rise, including one more two more times this year, and that by next year monetary policy will begin to “hold back the economy just a little bit.”. “The U.S. economy is firing on all cylinders, with strong growth, low unemployment, and inflation approaching our 2 percent symmetric target on a sustained basis,” Evans told the Northeast Indiana Regional Economic Forum. The economy will likely grow at 3 percent this year before slowing next year, he said, pushing unemployment down from 3.9 percent now to 3.5 percent by 2020, well below the 4.5 percent that Evans believes is sustainable over the long run. Meanwhile inflation, he said, will likely rise a bit above 2 percent, though not far enough to cause concern.
The Fed has been raising rates gradually as the economy has strengthened, and its most recent projections suggest it will continue to do so into next year before slowing in 2020, The projections show most policymakers expect interest rates to rise to 3.1 percent by the end of next year and 3.4 percent by the end of 2020, above the Fed estimate for a neutral hermes cufflinks price in india rate setting of 2.9 percent, Evans noted, Neutral is the estimated level of borrowing costs that in a healthy economy neither boosts nor brakes growth..
“This means that the 3 to 3.5 percent level of the funds rate projected for 2019 and 2020 is mildly restrictive,” Evans said. “Given an unemployment rate forecast below the natural rate, such a policy stance would be quite normal and consistent with some moderation in growth and a gradual return of employment to its longer-run sustainable level.”. Fed Governor Lael Brainard argued earlier this week that even with further rate hikes it will probably be a couple years before borrowing costs start impeding growth. [L2N1VY28W].
FORT WAYNE, Ind, (Reuters) - Federal Reserve Bank of Chicago President hermes cufflinks price in india Charles Evans said on Friday that two further interest-rate hikes this year by the U.S, central bank would not be surprising, given the strength of the economy, “I still think that certainly three to four total increases for this year are reasonable and the data have been strong,” Evans told reporters after a speech here, “I will not be surprised if it’s four increases this year, I do still believe that a gradual increase in interest rates is appropriate.”..
WASHINGTON (Reuters) - The United States on Friday imposed sanctions against a Thai aviation company that it said was acting on behalf of Iran’s Mahan Air, which it accused of ferrying troops and supplies into Syria in support of Syrian President Bashar al-Assad. The fresh actions target My Aviation Company Ltd in Bangkok and modifies sanctions against Malaysia-based Mahan Travel and Tourism, a U.S. Treasury statement said. Mahan Air is already under U.S. sanctions. “Mahan Air continues to fly into Syria every week, even as millions of innocent civilians in Idlib province are under threat of imminent attack from the murderous Assad regime and its backers in Iran and Russia,” Treasury Secretary Steven Mnuchin said in a statement.
LONDON (Reuters) - Ryanair faced growing criticism from unions and investors on Friday about how it has handled an industrial relations revolt ahead of its annual shareholder meeting next week when its veteran chairman’s hermes cufflinks price in india position will be challenged, Britain’s Local Authority Pension Fund Forum (LAPFF) recommended members vote against Ryanair’s financial report at the Sept, 20 meeting and also oppose the re-election of Chairman David Bonderman, The group, whose members schemes run around 230 billion pounds ($300 billion) on behalf of teachers, cleaning staff and other public workers, said its recommendations reflected “significant concerns” about Ryanair’s treatment of workers..