Stocks Drop 1% as Fed Tapering Fears, Weak China Data Rattle Markets
Burberry Group PLC
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British luxury group Burberry posted a 14 percent rise in full-year pretax profit and said profit for the first half of its new fiscal year would be below last year's as it reduces its wholesale business in favor of retail markets.
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British luxury group Burberry posted a 14 percent rise in full-year pretax profit and said profit for the first half of its new fiscal year would be below last year's as it reduces its wholesale business in favor of retail markets.
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Headlines Standard Chartered chairman to step down from Experian Apple avoids potential $9 billion tax bill Investors fret over Accor's outlook after chief's eviction Shell-backed Iraqi $17 bln gas project gets under way Goldman Sachs criticised over $3 bln Malaysia bond deal Buffett pays $2 bln for control of Israeli group Overview.
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Earnings season kicks into high gear in the week ahead. Plus, at least 10 Fed speeches. How risk-averse are investors? Oh, this is going to put them to the test. Rest up.
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Tiffany said that worldwide sales would rise 6 percent to 8 percent this fiscal year, with growth in all regions, and the upscale jeweler reported a slightly higher profit for the holiday quarter.
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2013’s surge in merger and acquisition-related activity is heading for Europe, according to strategists who say the continent has the same essential ingredients in place for a revival in deals as the U.S.
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Louis Vuitton, the world's biggest luxury brand in terms of sales, is planning to dampen its expansion worldwide and focus on high-end products to preserve its exclusive image, said Bernard Arnault, chief executive of parent LVMH.
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The latest earnings from luxury goods group Richemont could signal a wider trend of changing consumer trends in Asia, though economic growth should help buoy the luxury goods market, experts told CNBC.
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Let's hear it for the boys. China's fashion-forward men are snapping up Gucci and Burberry bags, driving a rebound in the luxury market months after a slow down in spending by the world's biggest luxury goods buyers spooked global investors.
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HONG KONG/ MACAU, Jan 21- Let's hear it for the boys. China's fashion-forward men are snapping up Gucci and Burberry bags, driving a rebound in the luxury market months after a slow down in spending by the world's biggest luxury goods buyers spooked global investors.
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Technology stocks fell to push European shares lower and send Germany's benchmark DAX index to a 2013 low on Tuesday.
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*ARM Holdings slips on downgrade, tech shares fall. *Hennes& Mauritz up on lower-than-expected sales drop. LONDON, Jan 15- European shares steadied on Tuesday after falling for three straight sessions and touching a two-week low, with tech stock losses offsetting gains for retailers after a sales update from Hennes& Mauritz.
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Stocks are so far looking past the brewing congressional debt ceiling drama but that could change quickly if it becomes very contentious.
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Italian shoemaker Salvatore Ferragamo has raised its stake in distribution companies operating in China as part of a strategy to strengthen its position in Asia.
