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Feb 11, 2014

Procter & Gamble cuts outlook on emerging market currency impact

NEW YORK (Reuters) – Procter & Gamble Co (PG.N: Quote, Profile, Research, Stock Buzz), the world’s largest household products maker, cut its sales and earnings outlook for the year on Tuesday to reflect unfavorable foreign exchange rates in Venezuela and the devaluation of currencies in various developing markets.

The changed outlook reflects the recent devaluation against the dollar of the Argentine peso, Turkish lira, South African rand, Russian ruble, Ukrainian hryvnia, Brazilian real and several other currencies, said P&G, whose products include Pampers diapers and Tide detergent.

Feb 11, 2014
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