Rolling coverage of the latest economic and financial newsLatest: IFO survey shows German economy picking up Hang Seng index has jumped 1.5% todayPro-democracy party triumphsFull story: Hong Kong voters deliver landslide victory for pro-democracy campaigners 1.37pm GMT Optimism of a breakthrough in the US-China trade war is continuing to lift markets.In London the FTSE 100 is now 70 points higher at 7396, its highest level in nearly a week. 1.19pm GMT LVMH’s capture of Tiffany’s today (see earlier post) shows that the luxury end of retail is still hot, despite the global slowdown.Here’s Kate Swaine, partner at legal firm Gowling WLG:It is interesting to witness further consolidation across the luxury goods sector, following hot on the heels of Michael Kors’ 2018 purchase of Versace.At a time when the retail market is challenging, the luxury end of the sector has proved resilient to the slowdown in economic growth. This purchase demonstrates the appetite for investment and expansion even at the heights of the sector. Continue reading…
Via: UK retail sales stabilise; German confidence rises; Hong Kong shares surge – business live
English News
PIERS MORGAN: A phone call I received from a fired-up Trump should be a warning to Democrats
President Trump called me for a chat on Saturday. It was our first conversation since he unfollowed me on Twitter in April after I wrote a Mail column telling him to ‘Shut the f*ck up Read more…