Posts by Amelia Frost
Gucci Dumps Design Chief After Revenue Plunges 25%
Sabato De Sarno is leaving Gucci. AFP Gucci’s parent company, Kering, says that creative director Sabato De Sarno will depart after less than two years in the role. The decision to axe Sarno from Kering’s biggest brand comes after a significant 25% decline in Gucci’s third-quarter revenue. “I would like to express my deep gratitude…
Read MoreShein, Temu Face Cost Of Adapting To New US Customs Rules
US tariffs on Chinese imports and the closing of a customs loophole will wreak disruption on the business models of e-commerce giants Shein and Temu, with consumers potentially bearing the brunt of the cost, analysts say. Boasting an enormous selection of ultra-cheap items at a time when inflation has shrunk household spending power almost everywhere,…
Read MoreBank of England Cuts Interest Rates as British Economy Weakens
The Bank of England cut interest rates on Thursday for the third time in about six months, amid signs of weak economic growth in Britain and an unexpected slowdown in inflation. Policymakers cut the key rate a quarter point to 4.5 percent as the bank lowered its forecasts for economic growth this year. Two members…
Read MoreUK To Quicken Rollout Of Mini-nuclear Reactors
Britain’s Labour government on Thursday said changes to planning laws will speed up the country’s rollout of mini-nuclear reactors aimed at providing cheaper and cleaner energy. “Reforms to planning rules will clear a path for smaller, safer, and easier to build nuclear reactors — known as Small Modular Reactors (SMR) — to be built for…
Read More‘Multiple Nationalities’ Among Victims In Swedish Mass Shooting: Police
Swedish police said Thursday that there were “multiple nationalities” among the victims in the country’s worst mass shooting that left 10 dead plus the gunman. The massacre happened in the city of Orebro, west of Stockholm, on Tuesday, at an adult education centre that reportedly ran Swedish classes for immigrants. Anna Bergkvist, who is heading…
Read MoreFriday’s Jobs Report Will Be Confusing. Here’s How to Make Sense of It.
The Labor Department’s latest monthly report on hiring and unemployment will include revisions for previous months that should give a more accurate picture of the U.S. job market — but that could also sow confusion. When the data is released on Friday, one major measure of employment will be revised up. Another will be revised…
Read MoreTreasury Sought to Freeze Foreign Aid Payments, Emails Show
In the days after President Trump took office, as Elon Musk’s team began pressing for access to the Treasury Department’s payments system, officials repeatedly said that their goal was to undertake a general review of the system. They said they would observe, but not stop money from going out the door. But emails reviewed by…
Read MoreJapan’s ‘Geeky’ PM Ishiba To Navigate Trump Relations
Days after Donald Trump’s 2016 election victory, Japan’s then-prime minister Shinzo Abe rushed to deliver him a gold-plated golf club, becoming the first leader to visit and setting the tone for a relationship both men said was close. Japan’s current, bookish Prime Minister Shigeru Ishiba is not expected to be able to replicate that storied…
Read MoreIsrael Orders Army To Plan To Let Palestinians Leave Gaza
Israel’s defence minister ordered the army on Thursday to start making preparations to allow for “voluntary” departures from the Gaza Strip, after US President Donald Trump floated a proposal to move Palestinians out of the territory. The idea sparked uproar from leaders in the Middle East and around the world, and on Wednesday, the Trump…
Read MoreTop South Korean Officer Says Was Asked To Help Yoon Martial Law Bid
The commander of a crack South Korean special forces unit told a court Thursday he had been asked by a superior officer how to cut electricity to parliament during last year’s failed martial law order by impeached president Yook Suk Yeol. Colonel Kim Hyun-tae, who leads the country’s elite 707th Special Mission Group, was in…
Read More‘Huge Waste Of Taxpayer Money’: Musk’s DOGE Cancels $8M+ In Politico Subscriptions
KEY POINTS Press Secretary Leavitt said over $8 million in Politico subscriptions will be canceled by DOGE She said the move is part of the White House’s efforts to ensure that American taxpayers’ money is put to good use Screenshots from USAspending.gov are spreading on X, showing the supposed millions in payments on media subscriptions…
Read MoreUS Claims Free Passage Through Panama Canal
The United States said Wednesday that its government vessels would sail for free through the Panama Canal following heavy pressure from President Donald Trump, but authorities at the waterway swiftly issued a denial. “US government vessels can now transit the Panama Canal without charge fees, saving the US government millions of dollars a year,” the…
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