Bloomberg Luxury stocks declined on Tuesday as concerns mounted over a downturn in consumer sentiment in China, extending a sell-off that has seen global luxury companies lose about $160 billion in combined market value this month. The tumble continued after Italian menswear maker Ermenegildo Zegna Group said that Chinese consumers had become more careful in spending in the past few ...

Bloomberg The European Central Bank’s bid to wean itself away from ultra-loose monetary policy may be challenged by an unlikely development: the creation of a new overnight borrowing rate. Ester, which the ECB will publish by October next year, will eventually replace Eonia as the risk-free rate. However, unlike Eonia that is still anchored by the deposit facility, the Ester ...

Bloomberg The fastest wage growth in almost a decade is a sign that inflation pressures are building, but the Bank of England may not act until it gets clarity on Brexit. Data from the Office for National Statistics on Tuesday showed average earnings excluding bonuses rose 3.1 percent in the three months through August, the most since January 2009. While ...