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Troubled Burberry shows sign of recovery despite sales drop
British fashion house Burberry announced Friday a further decline in sales, hit by weak demand in China, but the troubled group is showing signs of recovery under new leadership. Burberry exited London's top-tier FTSE 100 index in September after 15 years, with analysts citing strategic mistakes and weak demand from China.
Italy's Monte dei Paschi bids 13.3 bn euros for Mediobanca
Italian bank Monte dei Paschi di Siena said Friday that it was launching a bid for its larger rival Mediobanca in a potential 13.3 billion euro ($13.9 billion) deal that could help reshape the country's banking sector. Monte dei Paschi (MPS) said its bid aimed "to create a new national champion in the Italian banking sector, with a number three position in key end markets".
Catalonia eyes reversal of business exodus after big bank returns
Spanish business circles believe banking giant Sabadell's decision to return its headquarters to Catalonia will entice back the thousands of firms that fled after the region's botched 2017 independence bid.
Bank of Japan hikes interest rate to 17-year high, signals more
The Bank of Japan hiked interest rates on Friday to their highest level in 17 years and signalled more were in the pipeline despite fears of turmoil under US President Donald Trump.
Tax change sows anger on England farms
In a field in southwest England where his dairy cows graze, Adam Stanbury said he feared the government's new farm tax, coupled with existing economic headwinds, will ruin his family business and many others.
Asian markets build on Trump rally, yen steady ahead of BoJ
Asian markets rose Friday after a record day on Wall Street in response to Donald Trump's tax-cut pledge, while the yen weakened slightly ahead of an expected interest rate hike by the Bank of Japan later in the day.
Climate change cooks up Japanese 'cabbage shock'
Japan's much-loved "tonkatsu" pork cutlets come with a mound of freshly shredded cabbage, but a surge in the price of the humble vegetable has prompted chef Katsumi Shinagawa to skimp on servings. Chef Shinagawa does not want to pass on the price increases to his customers, however.
Trump says will demand interest rates drop 'immediately'
US President Donald Trump said Thursday he would seek to bring interest rates lower by unleashing energy production, and would speak to the Federal Reserve if needed. Trump told reporters in Washington later on Thursday that he would like to see interest rates come down "a lot," adding that lower oil prices should help them to fall.
Saudi crown prince promises Trump $600 bn trade, investment boost
Saudi Crown Prince Mohammed bin Salman promised on Thursday to pile $600 billion into US trade and investments as he congratulated Donald Trump on his return to the White House.
AFP
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