Prada seeks younger customers in bid for growthItalian luxury fashion group Prada has predicted a return to growth as it seeks to connect with younger customers through online sales and flexible pricing.First half profits fell 25% to &euro 330m (£ 282m) due partly to falling demand in China and Italy.But Prada said it saw 2016 as "a ...
Lotte vice chairman Lee In-won found deadThe vice chairman of South Korea`s Lotte Group has been found dead hours before he was to be questioned in a corruption probe.Police investigators said the cause of death appeared to be suicide.The 69-year-old was due to be questioned on Friday in an inquiry into a possible slush fund and financial ...
German business confidence falls post-Brexit, says IfoBusiness confidence in Europe`s biggest economy, Germany, has fallen unexpectedly after the UK Brexit vote, according to a closely watched survey.The Ifo business confidence index, based on about 7,000 company responses, fell to 106.2 points for August from 108.3 in July.It was the steepest monthly ...
China Crinkles Aluminum Foil MakersFor decades, Camel cigarettes were wrapped with an ultrathin foil made at a plant in Winston-Salem, N.C. Then, last summer, the factory&rsquo s owner sold the facility as part of a strategy to buy more of its foil from China.The first U.S. casualties of China&rsquo s dramatic ramp-up in aluminum ...
Brexit `means economy faces 5050 recession chance`The UK has a 50/50 chance of falling into recession within the next 18 months following the Brexit vote, says a leading economic forecaster.The National Institute of Economic and Social Research (NIESR) says the country will go through a "marked economic slowdown" this year and next.It says ...
In Deal With Didi, Uber Frees Itself to Expand in Other MarketsUber Technologies Inc. is selling its China operations to fierce rival Didi Chuxing, ending an expensive price war and freeing it up to focus on other markets and possibly an initial public offering.The truce brings to an end a bruising battle between the two companies for leadership in China&rsquo ...
Amazon boss Bezos becomes world`s third richestStrong earnings from Amazon and a boost to the company`s stock have made its founder, Jeff Bezos, the world`s third richest person, according to Forbes.Mr Bezos owns 18% of Amazon`s shares, which rose 2% in trading on Thursday. Forbes estimated his fortune to be $65.3bn (£ 49.5bn).Amazon`s ...
UK economic growth sped up ahead of Brexit voteThe UK economy grew by 0.6% in the three months to the end of June, as economic growth accelerated in the run-up to the vote to leave the EU.Second-quarter gross domestic product grew faster than expected, up from 0.4% growth in the previous quarter, the Office for National Statistics said.Any ...
Yahoo sold to US telecoms giant VerizonUS internet firm Yahoo is being acquired by American telecoms giant Verizon Communications for nearly $5bn (£ 3.8bn) in cash.Yahoo will be combined with AOL, another faded internet star, which Verizon bought last year.The deal does not include Yahoo`s valuable stake in Chinese firm Alibaba.The ...
Terror and Tourism: Changing the Travel Landscape// Terror attacks and geopolitics are changing the Mediterranean tourist landscape as holidaymakers seek safe destinations.After 80 people were killed on Nice&rsquo s famous seaside boulevard, and following bombings and a coup attempt in Turkey, we ask what will be the effect on the travel ...
Brexit throws `spanner in the works` of global growthThe International Monetary Fund (IMF) has said the UK`s decision to leave the European Union has "thrown a spanner in the works" of its global growth forecast.Instead of predicting 3.2% growth in 2016, the IMF`s World Economic Outlook (WEO) now expects only 3.1%.It says the UK will be the worst ...
Economists oppose George Osborne`s corporation tax cuts crusadeSenior economists have questioned the Chancellor&rsquo s proposal to cut the UK`s headline rate of tax on company profits to below 15 per centEconomists have labelled George Osborne&rsquo s crusade to slash the UK&rsquo s corporation tax rate in the wake of the traumatic Brexit vote a mistake , ...
Lionel Messi handed jail term in Spain for tax fraudArgentina and Barcelona footballer Lionel Messi has been sentenced to 21 months in prison for tax fraud.His father, Jorge Messi, was also given a jail term for defrauding Spain of &euro 4.1m (£ 3.5m $4.5m) between 2007 and 2009.They also face millions of euros in fines for using tax havens in ...
EU referendum: More than 1,280 business leaders sign letterMore than 1,280 executives, including directors from 51 FTSE 100 companies, have signed a letter backing the UK`s membership of the European Union.The Remain camp said the letter to the Times showed "unprecedented" support from across business and finance.However, entrepreneur Sir James Dyson and ...
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