Chinese customers are once again shopping in the country’s luxury boutiques, but they are fewer in number and spending less, The Wall Street Journal discovered.
Tag: Global Economy
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GOING OUT OF BUSINESS TRENDS
Closures continue to hit the retail and restaurant industry due to rising costs and declining demand.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
Layoffs in January were the highest to start a year since 2009, according to outplacement firm Challenger, Gray and Christmas.
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BANK OF ENGLAND NARROWLY FREEZES KEY INTEREST RATE
By a 5-4 vote, Bank of England (BoE) officials held the central bank’s interest rate untouched at 3.75 percent last week, as economists had expected.
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ECB HOLDS INTEREST RATE STEADY
The European Central Bank rate-setting committee (ECB) left the bank’s key interest rate at 2 percent last week.
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GOLD’S PRICE WILL REMAIN ALOFT THIS YEAR, ANALYSTS SAY
Gold’s price will average $4,746.50 over this year, according to a January Reuters survey of 30 analysts.
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SPOTLIGHT: BIGS GETTING BIGGER
Coterra Energy and Devon Energy have agreed to merge into one company that will be a leading player in the U.S. shale oil and gas industry and a top producer in the shale-rich Permian Basin straddling Texas and New Mexico.
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SPOTLIGHT: THE LUXURY INDUSTRY DECLINES FURTHER
The share price of LVMH, the luxury industry’s largest and richest conglomerate, dropped 7.9 percent on 27 January after reporting a 3-percent sales decline in its Dior and flagship Louis Vuitton brands.
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SWISS FRANC SURGES ON DOLLAR’S WEAKNESS
Last week, the Swiss franc’s value climbed to 0.77 against the dollar after gaining more than 17 percent since the beginning of 2025.
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DECLINING DOLLAR ROILS WORLD MARKETS
The dollar’s slide to its lowest in more than three years has revived “fears about the U.S.’s pre-eminent position in global markets, spurred conflicting statements from the White House, and shifted the math behind everything from international travel to U.S. corporate profits to European furniture exports,” The Wall Street Journal reported.