Bloomberg Cartier, the French maker of upscale watches and jewelry, plans to open as many as 10 stores in the US in the coming years — another sign that European luxury brands are betting American demand will remain robust. The company, owned by luxury conglomerate Richemont, is likely to turn a temporary shop in Palm Beach, Florida, into a ...

  Bloomberg Credit Suisse Group AG’s new chief has asked investors for less than 100 days to deliver a new turnaround strategy. Turbulent markets are making that feel like a long time. The cost of insuring the firm’s bonds against default climbed about 15% last week to levels not seen since 2009 as the shares touched a new record low. ...

Bloomberg The Philippine peso may extend its record-setting slump against the greenback as billions of dollars of trade deficits weigh on the currency, increasing pressure on the central bank to intervene to slow its descent. The peso may slide to an all-time low of about 62 against the dollar as early as this year, about 4.8% weaker than Monday’s close, ...

  Bloomberg India’s central bank delivered a hat-trick of half-point interest-rate hikes, sustaining its battle to rein in inflation while flagging “calibrated action” to shield the economy amid fears of a global recession. The benchmark repurchase rate was raised by 50 basis points to 5.90%, Reserve Bank of India (RBI) Governor Shaktikanta Das said after the six-member monetary policy committee’s ...

  Bloomberg The Swiss National Bank (SNB) isn’t in a rush to reduce its balance sheet, which is likely to stay high for a long time, the central bank’s president told Neue Zürcher Zeitung. “We will not reduce our balance sheet simply because of its sheer size,” Thomas Jordan told the newspaper, stressing that the SNB will use its portfolio ...

  Bloomberg The relentless plunge in China’s stocks has burnished the appeal of their biggest emerging-market rival India, spurring a divergence that’s rarely been seen before. The MSCI India Index rallied almost 10% in the just-ended quarter, compared with a 23% slump for the MSCI China Index. The 33-percentage point outperformance by the India gauge is the biggest since March ...

  Bloomberg Global stocks fall to a two-year low, while US index futures struggled for direction, amid concern hawkish policies by global central banks will spark a recession and earnings contraction. December contracts on the S&P 500 Index were little changed, while similar futures on the Nasdaq 100 slid 0.3%. Carmaker Tesla tumbled 4% in premarket New York trading after ...

  Bloomberg The Opec+ group of oil producers will consider cutting output by more than 1 million barrels a day when it meets in Vienna on Wednesday, according to delegates. A larger-than-expected reduction would reflect the scale of concern that the global economy is slowing fast in the face of rapidly tightening monetary policy. A stronger dollar has also weighed ...

  Beijing / WAM A team of Chinese and American scientists recently published an assessment of China’s future use of clean hydrogen in its heavy industry and heavy-duty transport, noting that clean hydrogen can significantly reduce carbon emissions, Chinese news agency, Xinhua, reported. According to the study in the journal Nature Energy, clean hydrogen can be both a major energy ...

  Bloomberg China formally certified its homegrown aircraft to take on Boeing Co and Airbus SE in the highly lucrative market for narrowbody jets, according to the official Xinhua News Agency. The announcement of the certification of Commercial Aircraft Corp of China Ltd.’s C919 was made in Beijing, with President Xi Jinping and other high ranking Chinese government officials attending ...