The record for the most expensive wine or spirit sold at auction was broken by a rare bottle of whisky, which was bought for $2.7 million. Scotch whisky in the form of the highly sought-after Macallan 1926 single malt bottle can be… Read More ›
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Declining Foot Traffic In Burberry Stores Hampers Its Design Renovation
Burberry could not be in more of a bad spot for the luxury market recession that followed the post-pandemic boom, with designer Daniel Lee’s initial designs for the British brand beginning to appear in recently renovated stores. Executives issued a… Read More ›
As Luxury Companies Look To Develop, Exclusivity Is The Name Of The Game When It Comes To China’s Wealthiest
The world’s leading luxury companies are vying for the likes of affluent businesswoman Diana Wang in an attempt to expand in China, their second-largest market. Wang, an investor and owner of a fashion brand bearing his name, is based in… Read More ›
Japan’s Economy Shrinks As The Likelihood Of A Recession Rises
Japan’s economy shrank from July to September, ending two quarters of growth fueled by exports and sluggish consumption. This made the central bank’s efforts to gradually reduce its large monetary stimulus programme more challenging in the face of rising inflation…. Read More ›
Yellen Said She Is Not In Agreement With Moody’s Assessment Of US Debt
Reversing Moody’s judgement from last week to lower its outlook on US debt, U.S. Treasury Secretary Janet Yellen has stated that the country’s economy is robust and the Treasury market is secure and liquid. “This is a decision I disagree… Read More ›
Major Online Retailers Claim Increased Sales After China’s Singles Day Sales Celebration
Alibaba Group announced that during this year’s Singles Day sales period, which ended at midnight on Saturday, its Chinese e-commerce platforms Tmall and Taobao had “positive” year-over-year growth. Competitor JD.com reported that during the sales period, its festival GMV (gross… Read More ›
Moody’s Downgrades The US Outlook To Negative, Citing Political Divisiveness And Deficits
The United States government’s credit outlook was downgraded by Moody’s Investors Service on Friday from stable to negative due to growing threats to the country’s fiscal stability. The U.S.’s senior unsecured and long-term issuer ratings have been confirmed by the… Read More ›
Yellen Cautions Beijing, Saying That Chinese Companies Supporting Russia Risk “Serious Consequences”
The U.S. Treasury Secretary Janet Yellen stated that China has been pressed to take action after the U.S. government discovered evidence that Chinese companies may be assisting Russia’s war effort with equipment despite Western sanctions. Yellen claimed to have brought up… Read More ›
Chinese Shopping Festival Price Wars Reveal Consumer Problems
A fierce price battle between China’s online retailers on the “Singles Day” shopping extravaganza is revealing additional signs of weakness in household consumption and creating anxiety that the second-biggest economy in the world will continue to contract. Singles Day, named… Read More ›
Big Pickup Trucks Do A Lousy Job Of Keeping Rear Seat Passengers Safe, A Research Finds
The Insurance Institute for Highway Safety reported on Tuesday that testing measuring the safety of rear seat passengers in various incidents revealed that four large pickup vehicles performed badly. According to new moderate overlap front crash tests, the IIHS gave… Read More ›
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