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☆ S.Korea 20-day exports fall on holiday effects, slow global economy
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterA truck carrying a shipping container travels past cranes at Pyeongtaek port in Pyeongtaek, South Korea, July 9, 2020. The country's imports for the same 20-day period rose 6.1%, producing a trade deficit of $4.1 billion, the Korea Customs Service data showed. Average exports per working day during the Sept. 1-20 period rose 1.8% from a year before, it added. Finance Minister Choo Kyung-ho held a meeting of senior government officials to review trade conditions and vowed to focus policy to help exporters. Register now for FREE unlimited access to Reuters.com RegisterReporting by Choonsik Yoo; Editing by Himani Sarkar and Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ S.Korean won falls through key level after Fed hike
▼ + stars: | 2022-09-21 | by ( Choonsik Yoo | ) www.reuters.com time to read: +2 min

A South Korea won note is seen in this illustration photo May 31, 2017. The won fell as much as 0.9% to 1,406.8 per dollar in early onshore trading, marking the first time it crossed the 1,400-won mark since late March 2009. Both the finance ministry and the central bank separately issued warnings that they would act against excessive movements in the foreign exchange market. "The authorities will introduce various measures aimed at easing a supply-demand imbalance for foreign currencies from the pension fund and foreign trading companies," Minister Choo Kyung-ho said at a meeting of senior officials. Both the Bank of Korea and the National Pension Service declined to comment on the reports.

☆ Ralph Lauren Has an Ambitious New Look
▼ + stars: | 2022-09-20 | by ( Jinjoo Lee | ) www.wsj.com time to read: +1 min

Ralph Lauren started out as a tie business 55 years ago before it eventually became known for its iconic polo shirt. The brand now wants to keep the spirit of that expansion going, setting its sights on women’s apparel and less penetrated cities such as Atlanta and Houston. At an investor day on Monday, Ralph Lauren set out a target to grow revenue at a compound annual growth rate in the mid- to high-single-digit percentage range over the next three years, a clear upgrade from its 0.15% CAGR over the past four years. It also expects adjusted operating margins to reach 15% in fiscal year 2025, taking that number closer to American luxury brand peers Capri Holdings , which owns Michael Kors and Jimmy Choo, and Coach-owner Tapestry . That margin target doesn’t seem like such a stretch given that it already expects adjusted operating margins to reach 14% to 14.5% in the current fiscal year, an impressive upgrade from a 5.6% margin four years ago.

☆ California Wants to Ban Your Choo-Choo
▼ + stars: | 2022-09-16 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Review & Outlook: Despite regular power shortages in California, on Sept. 16, 2022, Governor Gavin Newsom signed 40 new climate bills to amp up California’s green-energy shock experiment. Images: Shutterstock/Getty Images Composite: Mark KellyGavin Newsom wants to be President, but in some respects the Governor already is, as the Biden Administration lets California impose its climate rules on the other 49 states. In the latest example, the Environmental Protection Agency has green-lighted Sacramento’s plan to outlaw diesel locomotives. The California Air Resources Board (CARB) in April approved a regulation that would require railroads to replace diesel with “zero emission” locomotives. Diesel locomotives typically have a useful life of 40 years or more, but the regulation would bar those that are 23-years or older from running in the state after 2029.

Persons: Gavin Newsom, Mark Kelly Gavin Newsom Organizations: Biden Administration, Environmental Protection Agency, California Air Resources Board, Diesel Locations: California

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