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Europe’s beleaguered luxury sector could be set for a turn in fortunes this year, as early indicators point to improved consumer spending and a pivot away from China. Luxury shares shot up in trading last week after Cartier owner Richemont reported its “highest ever” quarterly sales in the three months to December, indicating a rebound…
The Euro sculpture near the Commerzbank AG headquarters, in the financial district of Frankfurt, Germany, on Thursday, Sept. 12, 2024. Commerzbank is taking the precautionary move ahead of its engagement with UniCredit SpA, according to people familiar with the matter. Photographer: Krisztian Bocsi/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images European banking leaders are…
DAVOS, SWITZERLAND – JANUARY 21: European Commission President Ursula von der Leyen attends a session during the World Economic Forum (WEF) annual meeting in Davos, Switzerland on January 21, 2025. (Photo by Halil Sagirkaya/Anadolu via Getty Images) Anadolu | Anadolu | Getty Images The European Union is “open for business” and keen on global partnerships,…
US President Donald Trump holds letter to the UN stating the US withdrawal from the Paris Agreement during the inaugural parade inside Capital One Arena, in Washington, DC, on January 20, 2025. Jim Watson | Afp | Getty Images U.S. President Donald Trump’s pledge to withdraw from the landmark Paris climate agreement for a second…
An expected decline in interest rates could be stalled if the prospective tariffs of Donald Trump’s second White House administration bleed into markets and shore up inflation, UBS CEO Sergio Ermotti warned Tuesday. “Something that I’ve been saying for a while, inflation is much more sticky than we have been saying,” he told CNBC’s Andrew…
The Rio Tinto Group logo atop Central Park tower, which houses the company’s offices, in Perth, Australia, on Friday, Jan. 17, 2025. Bloomberg | Bloomberg | Getty Images The mining sector appears poised for a frantic year of dealmaking, following market speculation over a potential tie-up between industry giants Rio Tinto and Glencore. It comes…
People pass in front of big screen during the speech of US President Donald Trump on January 26, 2018 at the Davos Congress Centre (C), the venue of the annual World Economic Forum (WEF), in the town of Davos, eastern Switzerland. / AFP PHOTO / MIGUEL MEDINA (Photo credit should read MIGUEL MEDINA/AFP via Getty…
Piccadilly Circus is seen at dusk, on 7th January 2025, in London, England. Richard Baker | In Pictures | Getty Images LONDON — Traders bet on more Bank of England rate cuts this year after weak retail sales data added to the latest in a run of data surprises this week. Sales volumes fell 0.3%…
A leading EU official has denied taking a softer approach to Big Tech, citing a “very clear legal basis” for regulators and pointing to several ongoing investigations into the likes of social media platform X and Meta. The FT reported earlier this week that the EU was reassessing investigations into Apple, Google and Meta —…
In this aerial view melting icebergs crowd the Ilulissat Icefjord on July 16, 2024 near Ilulissat, Greenland. Sean Gallup | Getty Images News | Getty Images Major ice loss from Greenland is exposing the island’s natural resources, inadvertently making some of the world’s largest untapped critical mineral reserves more accessible. Greenland, a vast but sparsely…