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Most Asian markets drop as uneasy traders await key data
Asian markets struggled Tuesday to extend a Wall Street and European rally as traders nervously await US inflation data, while lingering concerns about China's economy remain a millstone. Equities have struggled so far this month on concerns that recent figures pointing to a resilient economy and jobs market will pressure the bank to tighten once more this year as it looks to defeat inflation.
Alexander McQueen designer Sarah Burton quits after two decades
British fashion house Alexander McQueen is losing its artistic director Sarah Burton who has been in charge for more than 20 years, parent company Kering announced on Monday. The 49-year-old British designer took over the reins after the suicide of its founder, Lee Alexander McQueen, in 2010.
Over 10,000 more jobs to go at UK's Wilko after partial rescue fails
More than 10,000 staff will lose their jobs at struggling UK household goods retailer Wilko, administrators said Monday, after last-ditch talks on a rescue deal with the owner of the HMV music store chain collapsed. Wilko, which operated some 400 stores across the UK and online, announced its collapse on August 10, putting 12,500 jobs at risk.
Musk biography describes troubled tycoon driven by demons
A hotly anticipated biography of Elon Musk describes the turbulent tycoon as a man driven by childhood demons, obsessed with bringing human life to Mars and who demands that staff be "hardcore." Much of Musk's early life is already publicly well known, with attention focused on his abusive father Errol Musk, who Musk despises.
EU cuts eurozone 2023 growth forecast, sees German recession
The European Commission cut its 2023 and 2024 eurozone economic growth forecasts on Monday, with the single currency area weighed down by Germany's poor performance. The single currency area made up of 20 countries will grow by 1.3 percent in 2024, the commission said, down from a previous forecast of 1.6 percent.
HMV owner's bid for UK retailer Wilko falls through
A last-ditch bid to save thousands of jobs at struggling UK household goods retailer Wilko has collapsed, the owner of the HMV music store chain said on Monday. Wilko, which operated some 400 stores across the UK and online, announced its collapse on August 10, putting 12,500 jobs at risk.
Savoy dynasty daily life on display with Geneva auction
Porcelain figurines, a white faux-leather sofa and a foosball table: these are among the items in a House of Savoy auction, providing a rare glimpse into the everyday life of royals. There are also objects linked to the Savoy family heritage, including engraved silver coat of arms and porcelain figurines, but also bronze statuettes recalling the modernist interior style of the Geneva villa.
China says to curb 'disruption' in currency market
China's central bank said on Monday it would crack down on speculation that distorts the value of the yuan as the country's currency sees persistent volatility. The bank added that "although the renminbi has recently somewhat depreciated against the US dollar, it remains basically stable against a basket of currencies".
Robot fried chicken: entrepreneur seeks to improve S. Korea's favourite food
In fried-chicken-obsessed South Korea, restaurants serving the nation's favourite fast-food dish dot every street corner. - 'Initially struggled' - Entrepreneur Kang now has 15 robot-made chicken restaurants in South Korea, and one branch in Singapore.
AFP
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