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...Iran’s largest customer will not want to see that undone, nor does Iran wish to threaten its export revenues....
...Maybe we should look to lessons from central and eastern Europe, where millions of consumers succumbed to a similar ‘exchange rate illusion’ before the 2008 financial crisis....
...Guiony also said that the group had hoped for “a very gradual improvement” in the US, with the return to stores of aspirational customers whose budgets have been squeezed as interest rates and inflation...
...The flows come as a blow to Liontrust, which manages most of its customers’ money in UK stocks....
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...[to] just buy whatever we want”, knowing it can be sent back — and cites far lower return rates in countries such as Japan, which has 3 per cent returns against 30 per cent in the US....
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