BUSINESS

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Concerns about the US economy and the effects of tariffs have hit Lululemon hard, with shares falling by more than 20% after the company revised its annual profit projections downward. The athleisure brand's warning echoes those of other major companies grappling with current US trade policies.

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KFC has revealed plans to create 7,000 new jobs across the UK and Ireland as competition from fast-food chicken chains like Wingstop intensifies. The company is committing nearly £1.5 billion in investment over the next five years, with a portion allocated to opening new restaurants in strategic locations such as Ireland and north west England — the region where KFC launched its first UK outlet 60 years ago in Preston.

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Ford Motor Co. has marked a robust 16.3% year-over-year increase in U.S. sales for May, navigating through a landscape marred by escalating tariff costs and price adjustments. The surge in sales, propelled by a strategic employee pricing program, underscores Ford's resilience amid economic uncertainties.

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DNA testing firm 23andMe has announced an agreement to be acquired by Regeneron Pharmaceuticals for $256 million (£192 million). The agreement comes two months after 23andMe filed for bankruptcy protection in the US. As part of the deal, 23andMe emphasized that Regeneron has committed to comply with its privacy policies and has security controls in place to protect user data.

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A US federal judge has cancelled the upcoming trial of Boeing, scheduled for June 23, following a preliminary settlement reached between the Justice Department and the aviation giant regarding the 737 MAX crashes that claimed nearly 350 lives.

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As President Donald Trump's tariffs impact the motor industry, UK-based carmaker Jaguar Land Rover (JLR) has stated it does not intend to produce vehicles in the US. JLR has no factories in the US and briefly suspended shipments to the country in April following Trump's initial tariff announcements, before resuming exports this month.