Sales at Italian fashion group Giorgio Armani returned to growth in 2019, a year in advance of its target, after a three-year planned fall from streamlining its distribution and brand portfolio under just three labels. MILAN: Sales at Italian fashion group Giorgio Armani returned to growth in 2019, a year […]
Business
The S&P 500 and Dow rose in choppy trading on Friday, boosted by financial stocks but the sentiment was fragile as a record rise in coronavirus cases in the United States threatened to further damage Corporate America. REUTERS: The S&P 500 and Dow rose in choppy trading on Friday, boosted […]
LONDON: Britain will suffer the sharpest peak-to-trough economic slump of any major economy this year, rating agency Moody’s warned on Friday (Jul 10), while its debts as a share of GDP will surge by 24 percentage points. Moody’s said the UK government’s latest stimulus package, announced this week, would aid […]
LONDON: The International Energy Agency (IEA) bumped up its 2020 oil demand forecast on Friday (Jul 10) but warned that the spread of COVID-19 posed a risk to the outlook. The Paris-based IEA raised its forecast to 92.1 million barrels per day (bpd), up 400,000 bpd from its outlook last […]
MUMBAI: India reported a record 26,506 new coronavirus cases on Friday (Jul 10) as authorities reimposed lockdowns in its most populous state and in an industrial hub, home to automakers, drug factories and brewers. The new cases pushed India’s tally to nearly 800,000 cases, the world’s third-biggest outbreak, behind only […]
BEIRUT: Samira Hanna spends a lot of time in the dark. Her old Beirut apartment gets less than two hours of electricity a day, and with Lebanon’s economy in ruins, the grandmother can barely afford candles, let alone a private generator. “I sit outside on the stairs for some light,” […]
TOKYO: Minimalist lifestyle brand Muji’s US subsidiary has filed for Chapter 11 bankruptcy protection, its Japanese owner Ryohin Keikaku said on Friday (Jul 10), joining the list of casualties from the coronavirus pandemic. Ryohin Keikaku said Muji aims to close unprofitable stores and renegotiate rents in the United States, where […]
HANOI: The economic fallout from the COVID-19 pandemic has negatively impacted about 31 million workers in Vietnam, with 900,000 out of work and nearly 18 million people receiving less income than before, a government agency said on Friday (Jul 10). If solutions to drive business activity were not immediately implemented, […]
NEW DELHI: When Chandana Hiran was a child, strangers would urge her to lighten her skin. Today the Indian student is leading a campaign against whitening creams as global anti-racism protests highlight the obsession with fair complexions for many in Asia. The campaign achieved its first victory when cosmetics giant […]
WASHINGTON: Record-breaking coronavirus cases and deaths in several US states are dimming hopes of economic recovery, with cellphone data showing shoppers are staying away from stores in areas where cases are rising the most. In Arizona, Texas, Florida, Georgia and South Carolina, which were among the first states to reopen […]