Author: Daniel snow
Shares of Kering, the luxury-goods company behind Gucci, Yves Saint Laurent and other brands, rallied as much as 10% on Monday after reportedly luring Renault’s chief executive to run the company. Source link
Trails of Iranian ballistic missiles light up the night sky as seen from Gaza City during renewed missile strikes launched by Iran in retaliation against Israel on June 15, 2025. Anadolu | Anadolu | Getty ImagesTehran will “pay the price” for its fresh missile onslaught against Israel, the Jewish state’s defense minister warned Monday, as markets braced for a fourth day of ramped-up conflict between the regional powers.Fire exchanges have continued since Israel’s Friday attack against Iran, with Iranian media reporting Tehran’s latest strikes hit Tel Aviv, Jerusalem and Haifa, home to a major refinery. CNBC has reached out to…
Dollar slips ahead of Fed meeting; euro grows in popularity Source link
Novo Nordisk’s annual report contains an interesting footnote on its key drug, Ozempic, which last year accounted for $19 billion of sales worldwide. Source link
France’s President Emmanuel Macron gives the keynote address at the Shangri-La Dialogue Summit in Singapore on May 30, 2025. Ludovic Marin | Afp | Getty ImagesEuropean leaders are looking to Southeast Asia with renewed interest amid Washington’s aggressive tariff agenda, but experts warn that the state of regional trade ties makes it challenging to disrupt the U.S. or China’s hold.Southeast Asia is in a predicament: its ally China is ramping up its advances in the South China Sea, with state-of-the-art Chinese bomber planes. spotted in the disputed Paracel Islands in the region late last month as tensions flare with the…
A Gucci store, operated by Kering SA, in the Sanlitun area of Beijing, China, on Saturday, Oct. 12, 2024. Bloomberg | Bloomberg | Getty ImagesShares of French fashion house Kering popped 7% on Monday on reports that it has appointed industry outsider Luca de Meo as group CEO. It comes as the owner of beleaguered brands Gucci and Saint Laurent embarks on the latest phase of its turnaround effort.Auto veteran de Meo’s departure as CEO of Renault was confirmed Sunday, with the French carmaker saying in a statement that he was stepping down “to take on new challenges outside the automotive…
Crypto giants set for EU green light amid growing regulatory rift, sources say Source link
The U.S. has placed major chip export restrictions on Huawei and Chinese firms over the past few years. This has cut off companies’ access to critical semiconductors.Jaap Arriens | Nurphoto | Getty ImagesTaiwan has added China’s Huawei and SMIC to its trade blacklist in a move that further aligns it with U.S. trade policy and comes amid growing tensions with Beijing. The International Trade Administration of Taiwan added Huawei and SMIC to its “Strategic High-Tech Commodities Entity List,” including a host of their subsidiaries.Taiwan’s current regulations require licenses from regulators before domestic firms can ship products to parties named on the…
Asia FX weakens, dollar firms amid Israel-Iran conflict; BOJ on tap Source link
Fire and smoke rise into the sky after an Israeli attack on the Shahran oil depot on June 15, 2025 in Tehran, Iran.Getty Images | Getty Images News | Getty ImagesThe CEOs of two major energy companies are monitoring the developments between Iran and Israel — but they aren’t about to make firm predictions on oil prices.Both countries traded strikes over the weekend, after Israel targeted nuclear and military facilities in Iran on Friday, killing some of its top nuclear scientists and military commanders.Speaking at the Energy Asia conference in Kuala Lumpur on Monday, Lorenzo Simonelli, president and CEO of…