Bloomberg Swiss watchmakers are still churning out too many timepieces despite production cuts following a Covid-induced sales slump, according to the head of Hermes International’s horology unit. Brands including Hermes, Rolex and Audemars Piguet temporarily halted production last year amid the pandemic, which helped ease a supply glut somewhat. Still, some producers are failing to address the issue, Laurent Dordet, ...

Bloomberg Russia warned that growing violence in Ukraine could set off a broader military conflict, brushing off German Chancellor Angela Merkel’s call to pull back troops massed near the border. “The escalation of tensions in the southeast of Ukraine justifies the measures Russia is taking,” Kremlin spokesman Dmitry Peskov said on a conference call, referring to the military buildup. “The ...

Bloomberg China’s ambassador to the US called for the two countries to take history as a guide to solve the disputes, in an apparent attempt to cool rising tensions between both nations. The two sides should carry forward the spirit of Ping-Pong diplomacy and seek common ground, Ambassador Cui Tiankai said in a recorded speech. He was speaking at an ...