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  • Feb 10, 2025

Chinese Stocks Lure Hedge Funds, Fidelity as Bullish Case Builds

(Bloomberg) -- Chinese stocks are coming back into favor among global investors as the nation’s growing technological heft and expectations for additional stimulus help rekindle optimism.Most Read from BloombergSaudi Arabia’s Neom Signs $5 Billion Deal for AI Data CenterNice Airport, If You Can Get to It: No Subway, No Highway, No BridgeSin puente y sin metro: el nuevo aeropuerto de Lima es una debacleThe Forgotten French Architect Who Rebuilt MarseilleIn New Orleans, an Aging Dome Tries to Stay

  • Feb 10, 2025

Gucci sales slump continues as market awaits turnaround

Luxury group Kering said its return to growth will take time after its embattled star label Gucci posted another quarter of weak sales and has yet to name a new chief designer to galvanise the Italian brand. Shares in Kering jumped in early trade on Tuesday, before paring gains, as the market briefly seized on hopes the company had reached an inflection point. The French group said its sales fell 12% in October-December on a comparable basis from a year earlier, dragged down by a 24% drop at Gucci, which accounts for nearly half of group sales and two thirds of recurring operating profit but continues to struggle.

  • Feb 10, 2025

Iran loosens import restrictions on foreign cars and iPhones, trying to mask its economic woes

All architecture student Amirhossein Azizi wanted for his 19th birthday was the latest iPhone — and for Iran's cash-strapped theocracy, it was just the gift they needed as well. An additional 450 million rials ($530) is required for import fees and registration on government-managed mobile phone networks. The purchase is only possible after Iran lifted import bans on expensive goods like foreign cars and new iPhones, yielding to public demand for the products while also trying to mask the dire straits of its economy.

  • Feb 10, 2025

South Korea's top think tank lowers economic growth projection, citing Trump's tariffs

South Korea’s top economic think tank slashed its growth forecast for the country’s economy for the second time in four months on Tuesday, expressing concern about the impact of U.S. President Donald Trump’s expanding tariffs. The state-run Korea Development Institute now projects South Korea’s economy to grow by 1.6% in 2025, which is 0.4 percentage points lower than its previous estimate announced in November. Kim Jiyeon, a KDI economist, said the “deterioration of the trade environment” following Trump’s inauguration was a major factor.

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