Author: Press Room

The Chinese market and Gen Z particularly like niche perfumes in contrast to other luxury goods. Read More Source link

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.HPS Investment Partners could hardly be more different than its suitor, BlackRock. Whereas BlackRock, an $11.5tn powerhouse, is best known for investing clients’ funds across huge swaths of public markets, HPS has earned a windfall on targeted bets in the private lending sector.BlackRock’s more than $12bn deal for HPS earlier this month comes as the world’s biggest asset manager is seeking to compete with groups such as Blackstone and Apollo, which are already deeply entrenched in a market widely seen as one…

By David Lawder WASHINGTON (Reuters) – The Biden administration on Monday announced a last-minute trade investigation into Chinese-made “legacy” semiconductors that could heap more U.S. tariffs on chips from China that power everyday goods from autos to washing machines to telecoms gear. The “Section 301” probe, launched just four weeks before President-elect Donald Trump takes office on Jan. 20, will be handed over to his administration in January for completion, Biden administration officials said. The effort could offer Trump a ready avenue to begin imposing some of the hefty, 60% tariffs that he has threatened on Chinese imports. Departing President…

Investing.com — Wedbush analysts expect Apple (NASDAQ:) to witness a strong holiday season, driven by solid demand for iPhone 16 upgrades across its user base leading into Christmas. The firm’s optimism is based on recent checks of Asia’s supply chain, which indicate positive trends. A key factor is Apple Intelligence, which has yet to launch in China and other regions. Analysts suggest April is the likely timeline for the AI rollout, with a Chinese tech partner expected to be announced soon to facilitate the launch in this critical market. The release of iOS 18.2 marked the beginning of major software…

Scott Olson/Getty Images NewsStarbucks (NASDAQ:SBUX) workers are now on strike in locations across nine states as of Sunday, according to the union Workers United, which represents over 10,000 workers at more than 525 stores. The strike could impact the coffee chain’s sales during the busy

Jane Fraser is on a mission to bring Citigroup back to its former glory.Her strategy spans layoffs, hiring new leaders, and a multibillion-dollar firmwide initiative.Fraser still has a long way to go on several fronts.When Jane Fraser took over Citi in March 2021, she inherited a bank saddled with regulatory problems and outdated technology that lagged behind its other household-name peers.This year’s market headwinds have been kind to Citi’s stock price, which is up 33% year to date, but Fraser’s overhaul has a long way to go. Banker R. Christopher Whalen wrote this week of the numerous drags on Citi’s…

Job seekers with career breaks should be ready to explain the white space in their interviews. Read More Source link

This article is an on-site version of our FirstFT newsletter. Subscribers can sign up to our Asia, Europe/Africa or Americas edition to get the newsletter delivered every weekday morning. Explore all of our newsletters hereToday’s agenda: Russian nuclear plants overseas; Syria’s Isis detainee camps; central banks and uncertainty; injuries at Amazon UK; and Guy Hands allegationsGood morning. We begin with an exclusive story on Palantir and Anduril, which are in talks with rivals to form a consortium that will jointly bid for US government work in an effort to disrupt the country’s oligopoly of “prime” contractors.Who’s taking part? Palantir and…

Investing.com — The U.S. narrowly avoided a government shutdown after Congress passed a spending extension until March 14, 2025, with $100 billion allocated for disaster relief and $30 billion for agricultural aid. But while this measure prevents an immediate crisis, Goldman Sachs warns that larger fiscal issues loom on the horizon. One of the major points of contention – raising the debt limit – was left out of the recent bill. However, Goldman notes that “Republican leaders committed to raise the debt limit by $1.5 trillion next year in a ‘reconciliation’ bill,” which can pass without bipartisan support. This would…

Investing.com — L’Oréal (EPA:) on Monday said it has agreed to acquire Gowoonsesang Cosmetics, the company behind the South Korean skincare brand Dr.G, from Swiss retailer Migros, as per a Reuters report.  This move aligns with L’Oréal’s strategy to expand its footprint in the rapidly growing K-Beauty market, known for its innovation and global appeal. In a statement, the French cosmetics giant flagged the strong demand for K-Beauty products, emphasizing the affordability and effectiveness of Dr.G’s skincare range. The company noted that Dr.G has potential for growth across Asia and globally, as per the report. The deal follows Migros’s review…