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…
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…
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…
TAIPEI (Reuters) – More than 20,000 employees, most of them were new hires not yet working on the production line, have left Apple supplier Foxconn’s Zhengzhou plant in China, a Foxconn source familiar with the matter told Reuters on Friday. The person said the departure was set to complicate the company’s previous target to resume…
By Sonali Paul MELBOURNE (Reuters) – Oil rose in early trade on Friday, trimming some of the week’s losses which have been driven by worries about Chinese demand and expectations a high price cap planned by the Group of Seven (G7) nations on Russian oil will keep supply flowing. Brent crude futures inched up 13…
By Jamie McGeever ORLANDO, Fla. (Reuters) – As Wall Street reopens after the Thanksgiving holiday, investors are looking for one final push to ensure 2022 ends up being merely grim rather than the bloodbath most had feared. Since hitting a two-year low in October, the S&P 500 has rebounded 15% even though interest rates, Fed…
(Changes day in first paragraph to Friday instead of Thursday) MADRID (Reuters) -An amended windfall tax proposal for Spanish banks and large energy companies cleared its first hurdle in parliament in the early hours of Friday with the backing of the leftist ruling coalition and several regional parties. Some parties in Spain’s northern regions, where…
By Akriti Sharma (Reuters) -Adidas AG on Thursday said it has launched an investigation into allegations of inappropriate behavior by Kanye West, after the German sporting goods maker last month ended its partnership with the rapper and fashion designer. Adidas said it initiated the probe after receiving an anonymous letter making several allegations against the…
