New Zealand’s Economic Downturn Could Get Worse, RBNZ Says

Central bank releases semi-annual Financial Stability Report Says banks well placed to manage rising loan defaults New Zealand’s central bank said the country is experiencing a pronounced economic downturn that could get worse. “Households have reduced their...

LVMH’s Empty Chinese Megastore Signals Deepening Luxury Crash

Upmarket brands are scrambling to adjust strategy after being wrongfooted by the rapid downturn in Chinese spending.  When LVMH CEO Bernard Arnault toured China in June last year, he visited a five-story site in Beijing where the company’s top brand Louis Vuitton...