The prolonged downturn in luxury spending in China is unlikely to reverse this year, analysts and executives warn, deepening a rout which has wiped almost $200 billion off the sector’s value in recent …
BUSINESS
China Duty Free Group among top 500 China brands, leads travel sector again
The World Brand Summit and China’s 500 Most Valuable Brands news release event in Beijing, June 19, 2024. [Photo courtesy of organizers] China Duty Free Group (CDFG), a subsidiary of China Tourism …
‘Garbage time’: China’s slump spins out new meme of economic despair
China’s sputtering economy has prompted a dire, new shorthand online for pessimism about the prospects for any turnaround for jobs, incomes and opportunity: “the garbage time of history.”
Fewer than 20 Chinese EV brands will be profitable by 2030 but Beijing set to dominate global auto market
The rapid expansion of China’s electric vehicle industry is facing a major correction by the end of the decade, with nearly nine in 10 existing brands on the chopping block.
China’s Communist Party charts technology- and security-focused development for reviving the economy
China’s people are keeping a tight rein on spending … Since taking power in 2012, Xi has sought to strengthen the party’s controls over business and society, launching crackdowns on corruption, the …
Analysis-Luxury brands feel the sting as Chinese growth slows
A big portion of that – about 85 billion euros – was from LVMH, which was overtaken by ASML in June as Europe’s second most valuable listed company.Analysts at JPMorgan said signs of improving …
Bill Ackman’s IPO and X stardom collide
Plus, a shocking bankruptcy court ruling for private equity lawyers and Intel venture arm’s big bets in China raise US alarms …
China’s counter-intuitive semiconductor exports surge goes unnoticed
China’s aggressive automotive exports caught the world’s attention, hitting a record high in the first half of 2024 but starting to slow down after tariffs imposed by Europe and the United States. However,
China’s June jobless rate for 16-24 year olds at 13.2%, stats bureau says
The jobless rate for 16 to 24 year olds in China, excluding college students, was at 13.2% for the month of June, the country’s statistics bureau said on Wednesday.
How China’s Economy Compares to the US’s After Latest Results
World Bank data shows the gap between the top two economies widened last year. China’s was just two-thirds the size of the U.S.’s down from 70 percent in 2022 and 76 percent in 2021.
Nike is hurting in China, but Lululemon isn’t: Analyst explains
Lululemon (LULU), and Starbucks (SBUX) are under pressure as slowing growth in China weighs on profit margins. TD Cowen managing director of retail and consumer brands John Kernan joins Catalysts to discuss how consumer weakness…
NexGen raises sub-goal P529 million from IPO
NexGen Energy Corp. led by businessman Dexter Tiu closed more than 1 percent above its IPO price during its stock market debut on Tuesday despite not raising its target amount, reflecting a …
China’s second-largest car dealer faces forced delisting as investors snub its shares
China Grand Automotive Service is set to be expelled from the Shanghai Stock Exchange after its shares traded below their par value for 20 straight days, the latest sign of cracks appearing in the …
