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: inflation
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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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U.S. CATTLE RANCHERS HAVE A BEEF WITH DONALD TRUMP
U.S. beef prices are setting records due to shrinking beef herds amid steady consumer demand.
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INFLATION ROSE AGAIN IN SEPTEMBER BUT LESS THAN EXPECTED
Last month, the U.S. Consumer Price Index rose to 3 percent after ending August at 2.7 percent. Stock markets were buoyed by the news that the number squeaked in below analysts’ consensus forecast of 3.1 percent in a Wall Street Journal survey.
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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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CONSUMERS ARE COOKING MORE AT HOME, BOOSTING GROCERY SALES
Continued inflation and worries about their economic future have more consumers eating at home, a worrying trend for the larger economy but a nice boost for the grocery business.
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THE NUMBER OF LATE-PAYING CAR LOANS CONTINUES TO RISE
As wage increases lag inflation and unemployment ticks up, low-income households are having a harder time keeping up with their car payments.
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EU WANTS PEOPLE TO STOP SAVING, START INVESTING
Europeans traditionally have saved a larger share of their incomes than Americans do.
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GLOBAL FACTORY ACTIVITY CRIMPED BY WEAKNESS IN CHINA AND THE U.S.
Factory output contracted around the world in September as U.S. economic activity slowed, demand in China weakened, and the ongoing U.S. tariff war made customers hesitate to buy, Reuters reported.
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TARIFFS ARE BEGINNING TO NUDGE CONSUMER PRICES HIGHER
Donald Trump’s tariffs are pushing U.S. retail prices higher, although inflation has not jumped significantly, the Financial Times said, citing government data and corporate statements.