China just dealt a blow to the global luxury goods industry. You can blame the trade war for that. The crackdown on the daigou trade – in which tourists, friends and relatives buy high-value products overseas and send them back into the country to avoid China’s hefty sales and import taxes – has sent shares in luxury houses tumbling. After ...

Spare a thought for Italian banks if you can. Barely recovered from their recent crisis, the country’s lenders find they have stumbled into a new one. Rome’s populist administration has sent yields on government bonds soaring by passing a budget that busts the EU’s fiscal rules. And since Italian banks still hold hefty amounts of those bonds, investors have taken ...

Wall Street’s powerhouses are beginning to lose some power. JPMorgan Chase & Co. kicked off third-quarter earnings for the big banks on Friday, and while the results were better than expected, they showed a lack of energy in key division: investment banking. Revenue from fixed-income trading was down 10 percent, which was worse than analysts were expecting. Fees from equity ...