Economy
French beauty brand L'Occitane halts Hong Kong trading over takeover
French beauty company L'Occitane on Tuesday halted trading of its Hong Kong-listed shares pending an announcement of a takeover, according to a company notice to the bourse. The $5.55 billion Hong Kong-listed L'Occitane International rejected last September a buyout offer from Geiger's investment holding company, L'Occitane Group.
Asian markets mixed as 'critical' US inflation data looms
Asian stocks were mixed Tuesday as attention turned to crucial US inflation data that could play a pivotal role in the Federal Reserve's decision-making on interest rates, with investors lowering their expectations for how many cuts it will deliver.
Tesla settles wrongful death lawsuit from fatal crash
Tesla has settled with the family of an engineer killed when his Model X crashed in Silicon Valley six years ago, avoiding a trial, according to court filings Monday. Court documents filed Monday said Tesla and the family of Wei Lun Huang had reached a settlement, and that Tesla is asking the amount involved remain under seal.
Climate pledges of big firms 'critically insufficient': report
From carmakers to fast fashion, dozens of major international companies are failing to reduce their greenhouse gas emissions at the pace required to slow climate change, a report said Tuesday. Distinguishing real cuts to planet-heating greenhouse gas emissions from "unsubstantiated greenwashing" was a major challenge, particularly for consumers, they said.
JPMorgan Chase CEO warns inflation could stay high
Inflation could remain elevated for longer than expected, posing a risk to the US economy's near-term health, JPMorgan Chase Chief Executive Jamie Dimon said Monday. Dimon pointed to ongoing fiscal investment, trade policy shifts and green economy spending as inflationary drivers in spite of many economic indicators that have remained "good."
US 'will not accept' flood of below-cost Chinese goods: Yellen
The United States "will not accept" a situation where underpriced Chinese goods flood the global market, battering industries elsewhere, US Treasury Secretary Janet Yellen said Monday as she wrapped up high-level talks in China.
Asian markets mostly rise as traders weigh rates outlook
Most Asian markets squeezed out gains Monday as traders weighed the chances of the Federal Reserve cutting interest rates this year after a forecast-busting US jobs report dented hopes for a first move in June. The sliver of hope for a halt to fighting weighed on oil prices Monday, with both main contracts down more than one percent.
S. Korea probes Temu over alleged false ads, unfair practices: Yonhap
South Korean regulators are investigating the hugely popular Chinese shopping app Temu on suspicion of false advertising and unfair practices, the Yonhap news agency reported Monday. The South Korean probe report follows similar concerns voiced by regulators and lawmakers in other parts of the world, especially over the firm's use of personal data.
Pakistan's delicate Eid bangles go from furnace to forearms
Layers of intricately decorated bangles are a staple fashion accessory for women in Pakistan, a carefully considered part of their Islamic Eid-al-Fitr celebrations.
Economy
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