Italian fashion house Loro Piana, owned by French giant LVMH, has been placed under court administration for allegedly facilitating the exploitation of workers by subcontractors, police and a company source said Monday. The judges of the Milan court found that Loro Piana "negligently facilitated" the exploitation, according to the police statement.
Equities mostly rose in Asia on Tuesday, extending Wall Street's rally on easing fears over Donald Trump's planned tariffs, while traders were also looking ahead to the release of key US inflation data. Eyes are also on the release this week of US personal consumption expenditure data, which is the Federal Reserve favoured inflation metric.
The arrest of Turkish President Recep Tayyip Erdogan's leading political opponent has sparked a financial firestorm and thrust the hardline leader's economic policies under scrutiny. He has spent two years trying to draw back investors who had turned away from Turkey due to political tensions and Erdogan's unorthodox monetary policy.
South Korean auto giant Hyundai on Monday announced a multi-billion-dollar investment in the United States, including a new $5.8 billion steel plant. Hyundai's announcement makes it the latest firm to announce plans to invest billions of dollars into the United States since Donald Trump's return to power in January.
Shakira fans flocking to see the Colombian star in concert are generating tens of millions of dollars for Mexico, according to the local chamber of commerce, underscoring the economic signicifance of major musical events.
US President Donald Trump announced Monday steep tariffs on imports from countries buying oil and gas from Venezuela, a punitive measure that could hit China and India, among others, and sow fresh global trade uncertainty. These could hit China and India, with experts noting that Venezuela exports oil to both those countries, as well as the United States and Spain.
Britain's Labour government will deliver a highly anticipated fiscal update on Wednesday, with finance minister Rachel Reeves expected to detail billions of pounds of spending cuts to address the country's struggling economy.
The SEC DG said that the year 2025 will feature more license revocations and suspensions of non-compliant operators, and explained how the regulator will achieve it.
Chinese carmaker BYD saw a surge in revenue last year, surpassing the $100 billion mark and beating rival Tesla as the electric vehicle giant accelerates its overseas expansion. That figure eclipsed the $97.7 billion in revenue last year announced previously by Tesla.
Economy
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