BERLIN (AP) — Germany’s economy saw stronger growth in the third quarter than expected as consumer spending picked up following the lifting of pandemic restrictions. Officials figures released Friday show gross domestic product in Europe’s biggest economy grew by 0.4% from July to September, 0.1 percentage points higher than previously forecast. GDP is a widely…
By Casey Hall SHANGHAI (Reuters) – Louis Vuitton on Friday announced plans to open a dedicated furniture and homewares store in Shanghai, a world first for the French luxury brand as it aims to expand further into lifestyle offerings to affluent Chinese clients. The appointment-only showroom, which will open on Monday, is located in a…
TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda will receive a meagre 0.4% pay rise in 2022 after two years of cuts, the central bank said on Friday, even as he has stressed the need for higher wages to sustainably meet the central bank’s inflation target. The 0.4% pay rise for the current fiscal…
By Mimosa Spencer PARIS (Reuters) – The abrupt departure from Gucci of Alessandro Michele, the flamboyant designer who was a favourite of Harry Styles and Lady Gaga, increases pressure on owner Kering as it faces slowing revenue growth at the Italian fashion house. News of the creative director’s exit after seven years comes as Kering…
Stocks wobbled to a mixed close on Wall Street Friday, but every major index notched weekly gains in a holiday-shortened week. Investors faced a relatively quiet day, though concerns about inflation, high interest rates and a potential recession still hover over Wall Street. Markets were closed on Thursday for the Thanksgiving holiday and closed at…
By Rae Wee SINGAPORE (Reuters) – The U.S. dollar stood close to a three-month low and was headed for a weekly loss on Friday, as the prospect of the Federal Reserve slowing monetary policy tightening as soon as December preoccupied investors and kept the mood buoyant. Trading was thin overnight due to the Thanksgiving holiday…
By Kevin Buckland TOKYO (Reuters) – U.S. long-term Treasury yields sank to a more than seven-week trough on Friday while the dollar dropped back toward recent lows against major peers as markets continued to digest dovish signals from the Federal Reserve. Expectations of a less aggressive pace of U.S. monetary tightening from as soon as…
TOKYO (AP) — Japanese prosecutors raided the headquarters of major advertising company Dentsu on Friday, as the investigation into corruption related to the Tokyo Olympics widened. Major local TV broadcasters showed Tokyo District Prosecutors and Japan Fair Trade Commission officials entering Dentsu headquarters. Dentsu dominates event organizing, marketing and public relations in Japan. It helped…
By Sonali Paul and Trixie Sher Li Yap SINGAPORE (Reuters) -Oil prices rose in Asia on Friday, despite thin market liquidity, after a week marked by worries about Chinese demand and haggling over a Western price cap on Russian oil. Brent crude futures rose by 28 cents, or 0.33%, to trade at $85.62 a barrel…
By Phuong Nguyen HAI PHONG, Vietnam (Reuters) -Vietnam’s electric vehicle maker VinFast said on Friday it had shipped its first batch of 999 cars to the United States, capping a five-year bid to develop an auto production hub in the Southeast Asian country for markets in North America and Europe. The first cars are expected…
