This story has been updated. PARIS – Pierre Cardin and its Germany-based licensee Ahlers will have to pay a 5.7-million-euro fine for agreeing to restrict cross-border sales as well as sales to specific customers, the European Commission said Thursday. An investigation launched in 2022 by the EC, the executive arm of the European Union in … Read more
The company’s shares rose 5.5 per cent in extended trading. They had surged 12 per cent right after it reported results after the company also flagged a new $15 billion stock buy-back. The San Diego, California-based company is the biggest supplier of smartphone chips and is benefiting from a recovery in smartphone markets as consumers … Read more
U.S. stocks are bouncing back, and calm is returning to Wall Street after Japan’s market soared earlier Tuesday to claw back much of the losses from its worst day since 1987. The S&P 500 was rallying by 1.6 per cent in midday trading and on track to break a brutal three-day losing streak. It had tumbled a bit more … Read more
Wall Street fell the most in nearly two years, continuing a global rout in financial markets as fears worsen that the U.S. economy is slowing down. The S&P 500 fell three per cent on Monday. The Dow Jones industrial average dropped more than 1,000 points and the Nasdaq composite slid 3.4 per cent. The declines were just the latest … Read more
MILAN — The resilience of the European market amid adverse weather conditions, the performance of its Carrera and David Beckham licenses and improved North America sales bolstered Safilo Group even as sales declined in the first half. The Padua, Italy-based group said Thursday that revenues fell to 532 million euros, down 3.3 percent from 550.1 … Read more
MILAN – The geopolitical and macroeconomic situation pose some major question marks going into 2024. Bain & Company’s Luxury Goods Worldwide Market Study — Spring 2024, presented on Tuesday with Altagamma in Milan, projects the personal luxury goods market to post 0 to 4 percent growth in 2024, in line with a previous forecast released in November pegging … Read more
