United brand can ride out Mourinho sacking but faces tests: experts

(Reuters) – Manchester United’s sacking of manager Jose Mourinho on Tuesday will not harm their potential as a marketer’s dream but a continued slide in on-pitch performance could test the club’s aura of commercial invincibility, say sports industry analysts. United topped Forbes’ most valuable soccer team list in June with a value of $4.12 billion but experts reckon that does not mean they are immune to losing fans or sacrificing marketing heft when it comes to their global brand. Experts suggest that is a road United could one day be…

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Soccer-United brand can ride out Mourinho sacking but faces tests-experts

Dec 18 (Reuters) – Manchester United’s sacking of manager Jose Mourinho on Tuesday will not harm their potential as a marketer’s dream but a continued slide in on-pitch performance could test the club’s aura of commercial invincibility, say sports industry analysts. United topped Forbes’ most valuable soccer team list in June with a value of $4.12 billion but experts reckon that does not mean they are immune to losing fans or sacrificing marketing heft when it comes to their global brand. Experts suggest that is a road United could one…

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UPDATE 4-Micron sales miss target as chip glut hurts prices

(Reuters) – U.S. chipmaker Micron Technology Inc (MU.O) on Tuesday gave quarterly sales and profit forecasts well below Wall Street estimates, citing a market glut of memory chips as consumer and business demand for phones and computers is weakening. Micron said it expected industry output, including from Korean rivals Samsung Electronics Co Ltd (005930.KS) and SK Hynix (000660.KS), to outstrip demand from the makers of phones, PCs and servers, pushing down Micron chip prices. Chief Executive Sanjay Mehrotra told investors on a conference call that Micron was taking “decisive actions…

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FedEx cuts 2019 earnings forecast on economic slowdown

(Reuters) – U.S. package delivery company FedEx Corp (FDX.N) on Tuesday cut its 2019 forecast after Europe’s economy weakened and the U.S. trade skirmish exacerbated a slowdown in China, sending its shares tumbling as much as 6 percent in after-hours trade. “Global trade has slowed in recent months and leading indicators point to ongoing deceleration in global trade near-term,” FedEx Chief Financial Officer Alan Graf said. Executives pointed to flashing signs around the world, including a sharp UK slowdown due to Brexit uncertainty, Germany’s recent gross domestic product contraction, “yellow…

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Sears to take $443 million in charges arising from store closures

(Reuters) – Bankrupt U.S. retailer Sears Holdings Corp (SHLDQ.PK) will take a charge of about $443 million arising from store closures, a regulatory filing showed on Tuesday. The company said some of the charges have already been incurred in the third quarter, while the remaining charges will be booked in the fourth quarter. Total costs related to closing 73 Sears stores and 28 Kmart stores in the third quarter ended Nov. 3 amounted to $229 million, the company said earlier this month. The charges entail markdowns, severance costs and lease…

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UPDATE 1-Australia's NAB readies for protest vote against exec pay

(Adds background on executive pay votes by CBA, Westpac, changes slug from NAB-AGM/) Dec 19 (Reuters) – National Australia Bank Ltd’s chairman said that more than 80 percent of shareholders will vote against its executive pay proposal on Wednesday, as the lender faces a backlash after a year of damaging misconduct revelations that have rocked the sector. Addressing disgruntled shareholders at the annual general meeting of Australia’s fourth-largest lender, Chairman Ken Henry said “the board is hearing loud and clear that our new scheme is not right.” The protest vote…

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Micron sales miss target as chip glut hurts prices

(Reuters) – U.S. chipmaker Micron Technology Inc (MU.O) on Tuesday gave a quarterly sales and profit forecast well below Wall Street’s estimates, citing a market glut of memory chips as consumer and business demand for phones and computers is weakening. Micron said it expected industry output, including from Korean rivals Samsung Electronics Co Ltd (005930.KS) and SK Hynix (000660.KS), to outstrip demand from the makers of phones, PCs and servers, pushing down Micron chip prices. Chief Executive Sanjay Mehrotra told investors on a conference call that Micron was taking “decisive…

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UPDATE 3-Micron sales miss target as chip glut hurts prices

(Reuters) – U.S. chipmaker Micron Technology Inc (MU.O) on Tuesday gave a quarterly sales and profit forecast well below Wall Street’s estimates, citing a market glut of memory chips as consumer and business demand for phones and computers is weakening. Micron said it expected industry output, including from Korean rivals Samsung Electronics Co Ltd (005930.KS) and SK Hynix (000660.KS), to outstrip demand from the makers of phones, PCs and servers, pushing down Micron chip prices. Chief Executive Sanjay Mehrotra told investors on a conference call that Micron was taking “decisive…

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Cuba's president, steeped in era of hours-long lectures, turns to Twitter

HAVANA (Reuters) – Cuban President Miguel Diaz-Canel said his office would shortly launch a new website, Twitter account and Youtube channel as part of his bid to harness the digital era to better communicate government policy to an ever-more connected people. Connectivity in Communist-run Cuba, a tech laggard, has surged in recent years as the government opened cybercafes, Wi-Fi parks and this month launched mobile internet – although few homes are connected to the web. Diaz-Canel, who took office from the media-shy Raul Castro in April, has said it is…

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