De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
Bloomberg
Technology
Alibaba Targets $100 Billion of AI Revenue in Five Years
The Hangzhou-based company is the most aggressive Chinese spender on AI technology, having pledged over $53 billion of AI investment over several years.
Alibaba Targets $100 Billion of AI Revenue in Five Years
The Hangzhou-based company is the most aggressive Chinese spender on AI technology, having pledged over $53 billion of AI investment over several years.
Beauty
Opinion: Harry Styles Is Selling Sex — Even If Wall Street Won’t
The successful restock of a vibrator and lube from Styles' beauty and wellness brand Pleasing shows how celebrities are sustaining the sexual wellness category, writes Bloomberg's Jessica Karl.
Opinion: Harry Styles Is Selling Sex — Even If Wall Street Won’t
The successful restock of a vibrator and lube from Styles' beauty and wellness brand Pleasing shows how celebrities are sustaining the sexual wellness category, writes Bloomberg's Jessica Karl.
Retail
Tariff Refund Lawsuits Surge Amid Uncertainty About US Plans
The number of companies suing for tariff refunds has spiked recently, with the latest group including companies such as Prada and Adidas, in a sign importers aren’t confident in the plan to create a claims process.
Tariff Refund Lawsuits Surge Amid Uncertainty About US Plans
The number of companies suing for tariff refunds has spiked recently, with the latest group including companies such as Prada and Adidas, in a sign importers aren’t confident in the plan to create a claims process.
Beauty
Unilever Chases Consumers by Focusing on Beauty Rather Than Food
The UK giant’s chief executive Fernando Fernandez hopes to scale beauty, personal care and wellbeing up to two-thirds of the firm’s sales.
Unilever Chases Consumers by Focusing on Beauty Rather Than Food
The UK giant’s chief executive Fernando Fernandez hopes to scale beauty, personal care and wellbeing up to two-thirds of the firm’s sales.
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The News in Brief
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.
Macy’s CEO Points to E-Shaped Economy, Signalling Consumer Shift
The mention of a forked economy by the head of America’s largest department store signals a heightened wariness that middle-income Americans will continue to spend at the same pace.
Watch Exports Bounced Back in February Before War in Middle East
Swiss watch exports saw a 9.2 percent rise in February, driven by a strong rebound in the US market.
Swatch CEO Warns Iran War Is Weighing on Watchmaker’s Sales
The company has more than 200 stores in the Middle East, said chief executive officer Nick Hayek.
Macy’s Issues ‘Prudent’ 2026 Guidance on Geopolitical Risks
The retailer issued a cautious full-year forecast for sales and profit despite strong performance at Bloomingdale’s, which has benefited from shoppers seeking alternatives to struggling rival Saks Global.
Spandex Maker Lycra Files for Bankruptcy After Years of Stress
The company has been hampered with disruptions to supply chains, elevated inflation, growing competition from low-cost manufacturers and trade tariffs.
Bondholders Approve Saks Global’s Five-Year Business Plan
Saks is moving towards exiting bankruptcy and tapped an additional $300 million of its Chapter 11 financing package.