A Gucci luxury goods store in the Galleria Vittorio Emanuele shopping mall in Milan, Italy. Bloomberg | Bloomberg | Getty Images Europe’s troubled luxury sector is showing signs of revival after an upbeat earnings season. But continued weakness in China — and the prospect of U.S. tariffs — could leave even the most exclusive brands…
Tensions between the world’s two largest economies have escalated over the last several years. Florence Lo | Reuters BEIJING — China is trying yet again to boost foreign investment, amid geopolitical tensions and businesses’ calls for more concrete actions. On Feb. 19, authorities published a “2025 action plan for stabilizing foreign investment” to make it easier…
Planes flying between Australia and New Zealand have been diverted as China conducts a closely-scrutinised military exercise in nearby waters that may involve live fire. The rare presence of three Chinese naval ships in the Tasman Sea has put both antipodean countries on alert in recent days, with Australia calling it “unusual”. Australian airline Qantas…
The People’s Bank of China (PBoC) has set up a fintech committee. Zhang Peng | LightRocket | Getty Images China kept its key lending rates unchanged Thursday, as Beijing prioritizes financial stability over interest rate easing to bolster the economy. The People’s Bank of China held the 1-year loan prime rate unchanged at 3.1%, and…
The US State Department has dropped a statement from its website which stated that Washington does not support Taiwan’s independence – a move which has sparked anger in China. China said the revision “sends a wrong… signal to separatist forces advocating for Taiwan independence”, and asked the US to “correct its mistakes”. The department’s fact…
An Apple Store on Jan. 26, 2025, in Chongqing, China. Cheng Xin | Getty Images News | Getty Images Alibaba Group Chairman Joe Tsai confirmed on Thursday that the company was partnering with Apple to roll out AI for iPhones sold in China. He was speaking at the World Governments Summit in Dubai. “[Apple] talked…
Sam Altman, CEO of OpenAI, speaks with French President Emmanuel Macron at Station F, during an event on the sidelines of the Artificial Intelligence Action Summit in Paris, France, Feb. 11, 2025. Aurelien Morissard | Via Reuters PARIS — Music was blaring and people were cheering at the Artificial Intelligence Action Summit in Paris on…
China is poised for economic stimulus and major structural changes that will set corporates up for strong returns, according to Andrew Swan, head of Asia equities at Man Group. “The sentiment around the China market obviously has been pretty poor, not just recently, but for some time now. I think investors are ignoring some of…
L’Oreal global flagship store is seen on Nanjing Road on May 8, 2021 in Shanghai, China. Vcg | Visual China Group | Getty Images The world’s largest beauty group L’Oreal said Friday that it plans to become less dependent on the Chinese consumer for growth, instead targeting burgeoning opportunities in the U.S. market. “We see…
EPA US President Donald Trump has suspended tariffs on small packages from China, after his sudden order ending duty-free treatment for shipments worth less than $800 left the US postal service and other agencies scrambling to comply. The postal service temporarily stopped accepting packages from China as a result of the order, only to reverse…
