Kering, the luxury conglomerate that owns Balenciaga, Brioni, and St. Laurent, among others, reported a 10-percent decline in third-quarter revenue to $3.96 billion year on year, marking its third losing quarter in a row.
Tag: Global Economy
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HEDGE FUNDS DIVE INTO HONG KONG’S IPO MARKET
Hong Kong’s Hang Seng stock exchange has been rife with initial public offerings this year and Millennium Management, Qube Research & Technologies, and Oaktree Capital Management are among the Western hedge funds that arrived early at the party.
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CANADIAN BUSINESSES, CONSUMERS BRACE FOR A RECESSION
A third of Canadian businesses are preparing for a recession, according to a new survey by the Bank of Canada (BoC). A separate poll of the country’s households found two-thirds expect a recession during the next 12 months.
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CHINA MAKES MORE FOREIGN LOANS IN RENMINBI CURRENCY
Continuing its campaign to expand the role of its currency in global finance, over the past five years Beijing has sharply increased the number of loans it has made in its own renminbi currency.
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GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that have profoundly affected the business community this year.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
Layoffs of federal employees continue as the U.S. government shut down nears the one-month mark. More than 4,100 federal employees have been laid off since the U.S. government shutdown began on Oct. 1, according to a statement from the U.S. Department of Justice.
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TOP TREND 2023, OFFICE BUILDING BUST: INSTITUTIONAL INVESTORS BACK AWAY FROM COMMERCIAL REAL ESTATE
For the first time since 2012, institutional investors as a group have reduced the amount of money they have allocated to commercial real estate, the Financial Times reported.
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SPOTLIGHT: BIGS GETTING BIGGER
Private equity firm BlackRock reported assets under its management at the end of the third quarter were valued at $13.46 trillion, compared to $11.48 trillion a year earlier.
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SPOTLIGHT: TRUMP’S TARIFF WAR
Tariff rates and targets change so frequently that not even Trump can keep track of them.
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SPOTLIGHT: DANGERS IN THE PRIVATE CREDIT MARKET
The private credit market has ballooned in recent years, reaching an estimated $3 trillion at the beginning of 2025.