Zimbabwe orders retailers to slash prices
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Zimbabwean retailers, manufacturers and wholesalers have been told to cut the prices of basic goods in half in the latest bid to rein in runaway inflation, a cabinet minister announced Tuesday.
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Shoppers headed to the nation&#39;s malls and stores to grab post-holiday bargains Sunday as merchants slashed prices even deeper in hopes of squeezing more sales out of what&#39;s winding up to be an unimpressive holiday season.
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NEW YORK -- Wal-Mart Stores Inc. , the world's largest retailer, set the stage for price wars yesterday as it said it is cutting prices on more than 16,000 items starting this week in a bid to turn around sales for the critical back-to-school season.
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President Robert G. Mugabe turned 83 as bakeries shut down, saying government price controls were requiring them to sell loaves at a loss.
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Retailers are having to slash prices earlier to attract pre-Chrismas shoppers, a survey suggests.
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Supermarket group Asda slashes 3p from petrol prices due to "over-supply" in the market, prompting a price cut pledge from Tesco.
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Zimbabwe has sent crack police to  enforce price freezes in the rural strongholds of President  Robert Mugabe, where businesses have failed to heed measures  aimed at reining in inflation and halting economic collapse.
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AFP/File - Canada's finance minister called on wholesalers and retailers on Tuesday to lower their prices to make them reflect the new strength of the Canadian dollar, which is now stronger than the US greenback.
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NEW YORK -- Retailers opened earlier than ever on the day after Christmas on Wednesday and slashed prices with hopes of salvaging a holiday season that is falling short of already modest expectations.
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Inspectors and police raided stores Sunday to enforce sweeping price cuts imposed to curb Zimbabwe's soaring inflation, while shoppers fought over rapidly disappearing staples at supermarkets.
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Shoppers headed to malls and stores to grab discounted coats, cashmere sweaters, and other items yesterday as merchants slashed prices even deeper in hopes
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Wal-Mart Stores Inc.  slashed  prices on hundreds of food items on Tuesday, putting more  pressure on mainstream grocers just two days before  Thanksgiving.
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Zimbabwe President Robert Mugabe on  Wednesday threatened to seize foreign companies, including  mines, that have raised prices and cut output in an economic  &quot;dirty tricks&quot; campaign to oust his government.
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Zimbabwean opposition leader Morgan Tsvangirai on Saturday called a government directive to halve prices of goods and services &quot;crooked&quot; economics, while police announced arrests for alleged price freeze violators.
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Wal-Mart Stores Inc  said on Thursday it was cutting prices on 15,000 more items this week as the world's largest retailer tries to boost sales heading into the crucial holiday shopping season.
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Merchants are slashing post-holiday prices even deeper, hoping to squeeze the last bit of sales from a shopping season that many retailers are finding unimpressive.
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The nation's retailers slashed prices further Wednesday in hopes that a post-Christmas shopping rush will salvage holiday sales that, so far, have fallen below even modest expectations. They're waiting in particular for legions of shoppers armed with gift cards to snap up bargains and buy new merchandise that has just hit store shelves.