A Gucci store, operated by Kering SA, in the Sanlitun area of Beijing, China, on Saturday, Oct. 12, 2024. Bloomberg | Bloomberg | Getty ImagesShares of French fashion house Kering popped 7% on Monday on reports that it has appointed industry outsider Luca de Meo as group CEO. It comes as the owner of beleaguered brands Gucci and Saint Laurent embarks on the latest phase of its turnaround effort.Auto veteran de Meo’s departure as CEO of Renault was confirmed Sunday, with the French carmaker saying in a statement that he was stepping down “to take on new challenges outside the automotive…
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Smoke rises in the distance following an Israeli airstrike in Tehran, Iran, on June 14, 2025. \Khoshiran | Afp | Getty Images Israel’s airstrikes on Iran Friday sent reverberations through financial markets.Oil prices jumped on fears that supply from Iran, the world’s ninth-largest oil producer in 2023, would be disrupted.Prices of gold, the stalwart shelter in times of crises, rose. Investors flock to the precious metal amid uncertainty because it serves as a stable store of value that is mostly resistant against exogenous shocks, such as inflation or geopolitical conflicts.And the dollar strengthened, as it is wont to do when…
Oxford Street on May 2 2025, in London.Mike Kemp | In Pictures | Getty ImagesWhen U.K. Chancellor Rachel Reeves announced her government budget last fall, unveiling a £70 billion ($95 billion) boost to public spending to be funded by higher borrowing and £40 billion in tax rises, which mostly hit British businesses, she insisted it was a one-off move, telling lawmakers that “we’re not going to be coming back with more tax increases, or indeed more borrowing.”Times have changed, however, and as Reeves tries to balance the books and stick to her stated non-negotiable “fiscal rules” — while pursuing a…
Fire and smoke rise into the sky after an Israeli attack on the Shahran oil depot on June 15, 2025 in Tehran, Iran.Getty Images | Getty Images News | Getty ImagesThe CEOs of two major energy companies are monitoring the developments between Iran and Israel — but they aren’t about to make firm predictions on oil prices.Both countries traded strikes over the weekend, after Israel targeted nuclear and military facilities in Iran on Friday, killing some of its top nuclear scientists and military commanders.Speaking at the Energy Asia conference in Kuala Lumpur on Monday, Lorenzo Simonelli, president and CEO of…
The U.S. has placed major chip export restrictions on Huawei and Chinese firms over the past few years. This has cut off companies’ access to critical semiconductors.Jaap Arriens | Nurphoto | Getty ImagesTaiwan has added China’s Huawei and SMIC to its trade blacklist in a move that further aligns it with U.S. trade policy and comes amid growing tensions with Beijing. The International Trade Administration of Taiwan added Huawei and SMIC to its “Strategic High-Tech Commodities Entity List,” including a host of their subsidiaries.Taiwan’s current regulations require licenses from regulators before domestic firms can ship products to parties named on the…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailSquawk Box AsiaXander Lao, President & CCO of Cebu Pacific, shares the airline’s growth outlook and contingency plans to cope with higher fuel prices.04:53an hour ago Source link
U.S. President Donald Trump speaks in the Oval Office at the White House in Washington, D.C., U.S., June 10, 2025. Nathan Howard | ReutersU.S. President Donald Trump’s administration is considering significantly expanding its travel restrictions by potentially banning citizens of 36 additional countries from entering the United States, according to an internal State Department cable seen by Reuters.Earlier this month, the Republican president signed a proclamation that banned the entry of citizens from 12 countries, saying the move was needed to protect the United States against “foreign terrorists” and other national security threats.The directive was part of an immigration crackdown Trump launched this year at the start of his second term, which has included the deportation to El Salvador of…
A series of images of landscapes and wildlife from the Brigalow Belt region of Queensland near the town of St. George.Colin Baker | Moment | Getty ImagesShares of Santos surged as much as 15.23% Monday, after it received a non-binding takeover offer of $18.72 billion by an Abu Dhabi’s National Oil Company-led group.The move marks the biggest intraday jump in the Australian oil and gas producer’s shares since April 2020, LSEG data shows.Stock Chart IconStock chart iconSantos shares Source link
Huge waiting lines are seen in front of jewelry retailer stores at Yu Garden in Shanghai, China, on May 17, 2025, as the city offers consumption vouchers to stimulate consumer spending.Nurphoto | Nurphoto | Getty ImagesChina’s retail sales growth accelerated in May, data from National Bureau of Statistics showed Monday, in part helped by the two public holidays that fell in last month.Retail sales last month jumped 6.4% from a year earlier, sharply beating analysts’ estimates for a 5% growth in a Reuters poll and rising from the 5.1% growth in the previous month.Growth in industrial output slowed to 5.8%…
Fire and smoke rise into the sky after an Israeli attack on the Shahran oil depot on June 15, 2025 in Tehran, Iran. Getty Images | Getty Images News | Getty Images Israel’s airstrikes on Iran Friday sent reverberations through financial markets.Oil prices jumped on fears that supply from Iran, the world’s ninth-largest oil producer in 2023, would be disrupted.Prices of gold, the stalwart shelter in times of crises, rose. Investors flock to the precious metal amid uncertainty because it serves as a stable store of value that is mostly resistant against exogenous shocks, such as inflation or geopolitical conflicts.And…
