Retailers and manufacturers predict an increasing number of British consumers will be searching for refurbished and pre-owned deals to save money and buy more responsibly as Black Friday ushers in the holiday shopping season. Second-hand vendors, such as eBay Inc…. Read More ›
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 ›
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 ›
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 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 ›
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 ›
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 ›
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 ›
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 ›
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 ›
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