Stella McCartney Ends 17-Year Partnership With Parent Company Kering

After much speculation over Stella McCartney’s future with French parent company Kering, both parties finally released a joint statement today confirming that Kering will sell its 50% stake in Stella McCartney Ltd to McCartney herself, a move that now gives her complete ownership of her namesake brand. Francois Henri-Pinault, Chairman and CEO of Kering, expressed that this is

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Christmas Sales Surprise for Next

Sales at Next have unexpectedly risen over the Christmas period, prompting the fashion retailer to raise its profit forecast. Cold weather boosted trade ahead of Christmas, sending full-price sales up 1.5% – far better than the 0.3% fall it had expected. A 13.6% rise in online sales offset a 6.1% decline in store sales in

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Westfield Shopping Centres Bought in $25bn Deal

The owner of Westfield shopping centres is being bought for $24.7bn (£18.5bn) in a deal which will see the malls launched in new markets. French property group Unibail-Rodamco is offering $7.55 a share for the Australian business. Westfield Corporation has 35 shopping centres in the UK and the US while Unibail-Rodamco has 71 sites in

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Luxury Good-Makers Win Fight Over Online Sales Bans

Europe’s top court has ruled that luxury brands can stop distributors selling their products online on websites such as Amazon and eBay. The European Court of Justice said in principle a ban was “appropriate to preserve the luxury image” of products. This would not break competition rules by limiting consumer choice, it said. The case was

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Factory Activity Accelerated in November

UK manufacturing activity grew at its fastest pace in more than four years last month, according to a closely watched survey. The Purchasing Managers’ Index index compiled by IHS/Markit hit 58.2 in November, the best level in 51 months. The report said exports played a “big part” in the expansion. Separate official data showed that inflows

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Summary of Budget 2017: Key Points at-a-Glance

Stamp Duty and Housing Stamp duty to be abolished immediately for first-time buyers purchasing properties worth up to £300,000 To help those in London and other expensive areas, the first £300,000 of the cost of a £500,000 purchase by all first-time buyers will be exempt from stamp duty, with the remaining £200,000 incurring 5%. 95%

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