Business

Britain’s Arcadia could fall into administration next week

Retail magnate Philip Green’s Arcadia, which owns Topshop and many other British fashion brands, said it was working on a number of options to secure its future after the COVID-19 pandemic hammered its business. The group risked going into administration within days, threatening 15,000 jobs. “The forced closure of our stores for sustained periods as […]

Business

Blackstone, JD.com among bidders for FANCL Asia business

Blackstone and Chinese online retailer JD.com are among more than 10 parties to bid for CMC Holdings, the sole distributor of FANCL’s skincare products in Asia outside Japan, people with direct knowledge of the matter said. Bain Capital, Carlyle, MBK Partners, Sequoia Capital and CITIC Capital are also among the bidders for CMC, valuing the […]

Business

Credit Suisse shareholders approve final 2019 dividend payment

Credit Suisse shareholders on Friday approved payment of the second half of its 2019 dividend. Both big Swiss banks, Credit Suisse and UBS, decided in April to postpone paying part of their 2019 dividends after mounting pressure from authorities over lenders’ payouts during the coronavirus pandemic. Credit Suisse shareholders approved the bank’s final 2019 dividend […]

Business

China to impose temporary anti-dumping measures on Australian wine imports

Australia has responded defiantly to China imposing anti-dumping tariffs on Australian wine, saying the “seriously concerning development” looks to be about diplomatic grievances and not any action by winemakers. China will impose temporary anti-dumping tariffs of 107.1% to 212.1% on wine imported from Australia from Nov. 28, the Chinese Ministry of Commerce said on Friday. […]

Business

Euro zone banks fall short of ECB’s climate demands

Euro zone banks are failing to disclose even the most basic information about their exposure to climate change, the European Central Bank said on Friday, as it set out its expectations for banks on its watch. Banks will be expected to take climate change into account when making loans or investing, considering aspects such as […]

Business

Allowing border agents to question Huawei CFO before her arrest was best, officer testifies

A Canadian police officer stationed at the Vancouver airport who rejected a plan to arrest Huawei Chief Financial Officer Meng Wanzhou on the plane she arrived on two years ago, on Friday testified that at the time he told other police officers the best course was to allow border agents to interrogate Meng before arresting […]

Business

Stocks at record high but yields fall, dollar under pressure

Stocks rose across the globe on Friday to close at a fresh high and remained on track for their strongest monthly performance on record but the Nasdaq outperformed on Wall Street and Treasury yields fell, indicating lingering concerns over rising coronavirus cases globally. A global stock index touched a record high for the third session […]