Cut from the same cloth: Esprit tries on Zara for fashion makeover
HONG KONG/MADRID (Reuters) – Esprit Holdings’ chief is doubling down on a bet to fix the struggling clothing retailer he took charge of a year ago by revamping its existing business model and recreating it in the image of his former employer-now-rival,…
Data and ECB may help set tone for investors looking ahead to 2014
LONDON (Reuters) – A rush of key economic releases this week and the European Central Bank’s last meeting of the year may help set the tone for investors and traders looking ahead to 2014.
Nobel Prize economist warns of U.S. stock market bubble
BERLIN (Reuters) – An American who won this year’s Nobel Prize for economics believes sharp rises in equity and property prices could lead to a dangerous financial bubble and may end badly, he told a German magazine.
Esprit to staunch losses as early as next year: paper
FRANKFURT (Reuters) – Troubled fashion retailer Esprit Holdings hopes to put an end to its losses as soon as next year, Chief Executive Jose Manuel Martinez told a German Sunday newspaper.
ArcelorMittal says U.S. buy won’t impact $15 billion debt target
BRUSSELS (Reuters) – ArcelorMittal’s acquisition of a U.S. plant jointly with Nippon Steel & Sumitomo Metal Corp will not affect the world No. 1 steelmaker’s debt targets, ArcelorMittal’s chief executive said on Sunday.
Freeport says worker dead at Indonesian copper mine
TIMIKA/JAKARTA (Reuters) – A worker was killed after an incident in an underground section of Freeport McMoRan Copper and Gold Inc’s giant Grasberg copper mine in Indonesia, the company said.
Israel’s El Al airlines CEO Shkedy to step down
JERUSALEM (Reuters) – The chief executive officer of El Al Israel Airlines , Elyezer Shkedy, tendered his resignation on Sunday and will step down after his successor is in place, the company said in a statement.
Fed unlikely to redraw markers for rate hike
SAN FRANCISCO/NEW YORK (Reuters) – Federal Reserve policymakers have cooled to the idea of explicitly raising the bar on future interest rate hikes, a sign the U.S. central bank is angling for a return to more subtle — and familiar — ways of explaini…
China’s November factory growth clings to 18-month high
BEIJING (Reuters) – China’s factory growth held at an 18-month high in November on firm domestic and foreign demand, defying expectations the economy faces a modest slowdown as 2013 draws to a close.
Global recovery still too weak, South Korea data shows
SEOUL (Reuters) – Exports by industrial powerhouse South Korea showed virtually no growth last month, underlining a still fragile global economy squeezed by a depressed Europe as growth slows in emerging markets.
