BLOOMBERG Omega, the Swiss watch brand known for its Speedmaster and Seamaster models, raised prices by as much as 8% in a move that could hurt sales, according to investment bank Morgan Stanley. Omega recently raised prices by 2% in Switzerland and China, as well as by 8% in the US, the biggest export market for Swiss timepieces, Morgan Stanley ...

BLOOMBERG BuyBuy Baby’s stores will shut down after the baby brand — once cast as Bed Bath & Beyond Inc’s prized asset — garnered no adequate going-concern bids in a bankruptcy auction, according to court papers. New Jersey-based baby goods company Dream on Me Industries Inc won a bankruptcy auction for BuyBuy Baby’s intellectual property last month, but advisers kept ...

BLOOMBERG Golden Goose, the upstart maker of $500 sneakers, is turning back the clock to keep pace with its trendy Generation Z fans, staffing its stores with trained cobblers to help meet demand for products that won’t end up in a landfill. The Italian brand has long insisted that its customisable, star-emblazoned sneakers only improve with age. But adding repair ...

BLOOMBERG In the run-up to the (almost but not quite) four-day weekend over July 4, US air travel set a new record. The Transportation Security Administration said it screened nearly 2.9 million fliers on June 30, the highest daily count  in the agency’s history. Flying in the US has rebounded from its Covid-19 lows. And if global expectations hold true, ...

BLOOMBERG EasyJet Plc cancelled almost 2,000 flights this summer from its London Gatwick hub citing air traffic control disruptions, an indicator that airlines are preemptively scrapping flights to limit travel chaos. Europe’s second largest budget carrier scrapped 1,700 flights that were due to operate in July, August and September, which will affect around 180,000 passengers. That amounts to less than ...

BLOOMBERG Chinese tech stocks listed in Hong Kong rallied after authorities signalled an end to a years-long crackdown on the sector by imposing fines on Ant Group Co and Tencent Holdings Ltd. The Hang Seng Tech Index closed 1.1% higher, the biggest gain in a week. Alibaba Group Holding Ltd, parent of fintech giant Ant Group, led the advance, surging ...

BLOOMBERG US stocks slumped after a spate of jobs reports tamped down speculation the Federal Reserve would leave interest rates unchanged later this month. The S&P 500 fell 1.2% over the shortened holiday week while the Nasdaq 100 slid 0.9%. Yield on the two-year Treasury drifted down to 4.94% as investors digested government jobs data that fell short of estimates ...

BLOOMBERG Spanish Prime Minister Pedro Sanchez is lagging in all opinion polls as he heads into the only televised election debate with his conservative rival, even after he closed some of the gap in recent weeks. With Sanchez and Alberto Nunez Feijoo were expected to face off in a TV debate on Monday at 10 pm in Madrid, five polls ...

BLOOMBERG The Solomon Islands became the latest Pacific island nation to open an embassy in China and upgrade ties with Beijing as Washington also seeks to bolster its presence in the region. Solomon Islands Prime Minister Manasseh Sogavare is on a week-long visit to China and met with both Chinese President Xi Jinping and Premier Li Qiang. “I am here ...

BLOOMBERG Dutch Prime Minister Mark Rutte announced that he is leaving politics after his coalition government collapsed amid infighting over migration policy. Addressing Dutch lawmakers in The Hague, Rutte said that he is stepping down as leader of his party after 13 years in power. The country’s longest-serving premier had been facing a vote of no confidence in parliament but ...