Bloomberg Burberry Group Plc’s decision to eliminate discounts is showing progress as the brand aims to elevate the image of its products in the eyes of luxury consumers. Burberry shares rose as much as 5.9%, the most in two months in London trading. The brand has been phasing out markdowns, leading to an improvement in full-price sales during its fiscal ...

Bloomberg Hong Kong no longer has the busiest airport for international traffic in Asia after the coronavirus pandemic wiped out travel, leaving South Korea’s Incheon International Airport in top spot, albeit with drastically fewer numbers than previous years. Hong Kong International Airport handled 8.84 million passengers in 2020, an 88% plunge from the previous year. That sent it down two ...

Bloomberg The parent of Office Depot said it’s open to a potential tie-up with Staples, but only if it can avoid the regulatory pushback that derailed their last merger attempt. ODP Corp sent a letter to Sycamore Partners, the private-equity owner of Staples, rejecting Staples’ original offer and suggesting some alternative directions. ODP would be open to either a joint ...

Bloomberg Manhattan’s retail pain is worsening as the pandemic drags on, with rents falling in every major shopping district. Soho was hit the hardest in the fourth quarter, with average asking rents dropping nearly 22% to $290 a square foot, according to a report by brokerage Cushman & Wakefield Plc. Rents in the area, known for its many fashion boutiques, ...

Bloomberg Joseph Robinette Biden Jr. was sworn in as the 46th president of the United States, taking control of a nation wracked by a deadly pandemic, persistent unemployment and burgeoning social unrest to cap the most acrimonious transfer of power in modern American history. Biden, 78, took the oath of office around noon from Chief Justice John Roberts on the ...

Bloomberg China urged cooperation with Joe Biden’s administration and said it hoped new US officials would make their own judgments on Xinjiang, after outgoing Secretary of State Michael Pompeo called Beijing’s crackdown in the region “genocide.” “We hope the new US administration will work together with China, with mutual respect, properly handle differences and conduct more win-win cooperation in more ...

Bloomberg UK Prime Minister Boris Johnson defeated a rebellion by his own lawmakers after they pressed for British judges to be able to rule if China’s Muslim Uighur minority is suffering genocide. The House of Commons narrowly voted down an amendment to a proposed law on international trade agreements which would have allowed victims to ask the High Court in ...

Bloomberg A Supreme Court panel in India refused to issue orders on the government’s petition to stop a proposed rally by farmers that would run at the same time as Republic Day celebrations on January 26. The three-judge panel headed by Chief Justice of India Sharad A. Bobde said police, and not the court, should decide on allowing farmers into ...

Bloomberg Tunisia saw another night of anti-government protests after the prime minister acknowledged “legitimate” anger at nation’s economic malaise while warning against the use of violence. Protesters blocked roads, burned tires and skirmished with police in mainly working class neighbourhoods of Tunis and the central city of Kasserine, local broadcaster reported. More than 600 people have been arrested in upheaval ...

Bloomberg Malaysia kept its benchmark interest rate unchanged Wednesday, saving its policy ammunition as the country grapples with a surge in Covid-19 infections that could take months to subside. Bank Negara Malaysia (BNM) maintained the overnight policy rate at a record-low 1.75% at its first meeting of the year, as expected by 12 of 23 economists surveyed by Bloomberg. The rest ...