Peng Shuai: What we know, the IOC and the Olympic Games November 24, 2021 The curious case of Peng Shuai gets curiouser and curiouser as the days roll by. From initial allegations, to a prolonged period away from public view, to a court-side appearance, to a video call with International Olympic Committee (IOC) president Thomas Bach. It’s almost unbelievable. The timeline began on 2 November, when Peng accused a [...]
Asia sales and Covid-19 unlocking boost luxury retailer Mulberry November 24, 2021 The Covid-19 unlocking and booming sales in Asia have boosted luxury fashion retailer Mulberry, reveal new figures released today. Income at the London-listed retailer climbed 34 per cent to over £65m, up from £48.9m in the same period last year. Profits jumped to £10.2m, largely driven by the sale of shop leases in France. UK [...]
China hands out new fines to tech giants in anti-monopoly crackdown November 20, 2021 Chinese tech giants including Alibaba Group and Tencent Holdings have been fined for failing to report corporate acquisitions, adding to an anti-monopoly crackdown by the ruling Communist Party. The companies failed to report 43 acquisitions that occurred up to eight years ago under rules on “operating concentration”, according to the State Administration for Market Regulation. [...]
Alibaba shares slide five per cent as earnings fall short of forecasts November 18, 2021 Alibaba shares tumbled five per cent after the company’s third quarter financials disappointed investors. In results released today, Chinese tech giant Alibaba revealed that revenue for the three months to October 2021 was $31.1bn (£23bn), up by 29 per cent compared to a year prior, but a far cry from analyst predictions of $32.1bn Net [...]
Cryptocurrency slump tempered by trend of ‘buy the dip!’ November 17, 2021 Bitcoin continues to hover around the $60k mark, down two per cent over the past 24 hours at time of writing and 10 per cent over the past seven days.
UK government opens national security probe into Nvidia’s $54bn Arm deal November 16, 2021 The UK government has launched a a full-blown national security investigation into Nvidia’s planned takeover of British chip designer Arm, introducing another obstacle in the way of the $54bn deal. Digital and culture secretary Nadine Dorries has ordered a “phase 2” investigation into whether the deal operates against public interest, thus instructing the UK competition [...]
How have crypto market moves affected consumer behaviour online? November 14, 2021 Ed Lavery explains how crypto market moves have affected consumer behaviour online.
UK government set to launch national security probe into Nvidia’s $54bn takeover of ARM November 14, 2021 Ministers are lining up a full-blown national security investigation into Nvidia’s planned $54bn takeover of British chip designer ARM, after months of negotiations between regulators and the US chip company. The investigation is likely to be announced on Tuesday week, after digital and culture secretary Nadine Dorries orders a “phase 2” probe into Nvidia’s acquisition [...]
US-China rhetoric won’t solve our climate woes if Beijing stays hooked on coal November 12, 2021 In a move reminiscent of the Obama era, the US and China announced a joint agreement on climate change, taking Cop26 attendees by surprise. This commitment to cooperation comes laden with symbolism in a backdrop of wider, intractable tensions in the US-China relationship. But signs of concrete plans remain mysterious. The joint declaration made between [...]
Global luxury market on track to beat pre-Covid sales this year – but Europe lags behind November 11, 2021 The global luxury goods sector is set for a powerful rebound and will outperform pre-pandemic levels this year, but Europe lags behind in the absence of tourists’ purses, consultancy Bain has said. Global sales of personal luxury goods – which include fashion, cosmetics, perfumes, watches, handbags and jewellery – are set to reach €283bn (£242bn) this [...]