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Financial

Financial Archives

Printemps to close seven luxury stores in wake of Covid

French department store chain Printemps, a magnet for foreign shoppers seeking high-end goods in Paris, will close some ...

Alibaba shoppers shatter Singles Day record already, spending $56 billion

Chinese e-commerce giant Alibaba Group said orders made during its Singles' Day mega-shopping festival had exceeded $56 ...

Adidas fears decline as European lockdowns return

German sportswear firm Adidas expects sales to decline in the last three months of the year despite forecasting a return...

Shiseido cuts outlook as prolonged pandemic hits cosmetics sales

Shiseido Co Ltd on Tuesday lowered its full-year outlook and said consumer sentiment had remained more cautious than the...

Southeast Asia’s internet economy to surpass US$100bn this year, says Bain

Southeast Asia's internet economy will hit $105 billion this year, as the coronavirus crisis prompted stuck-at-home cons...

VF Corp adds Supreme to its stable in US$2.1 billion deal

VF Corp said on Monday it would pay $2.1 billion to buy streetwear apparel company Supreme, adding another popular brand...

Are digital fitness apps the biggest opportunity in activewear?

Under Armour’s recent sale of its MyFitnessPal platform comes as other major players beef up their fitness offerings.

McDonald’s launches new growth strategy; beats profit estimates

McDonald's Corp said on Monday it would test a loyalty program for customers and launch a new crispy chicken sandwich ne...
Jack Ma

How billionaire Jack Ma fell to earth – and took Ant’s mega IPO with him

Jack Ma was just days away from his Ant Group's IPO in a record deal, when he fell foul of financial watchdogs and banks...
Tesco Lotus retail shop in Bangkok

Tesco Thailand takeover gets regulatory nod – with a catch

Thailand's antitrust regulator has approved CP Group's deal to buy the Tesco Thailand retail stores in the country.