Economy news and archive

UK economy shrinks for second month running

The UK economy shrank for the second consecutive month in April, new data shows. Gross domestic product (GDP) fell by 0.3 percent in April following a decline of 0.1 percent in March, according to the Office for National Statistics (ONS). That drop was bigger than expected. The average response from economists polled by Reuters was that GDP...

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Retailers encouraged by Key Provisions in HEALS Act

The National Retail Federation issued the following statement from NRF Senior Vice President for Government Relations David French regarding the Health, Economic Assistance, Liability Protection, and Schools (HEALS) Act, the Republican version of additional stimulus funds, in response to the coronavirus pandemic: While understanding that the...

Retail

Luxury shoppers seize the day amid Turkey’s sliding currency

One country’s woes are a luxury shopper’s gain. As Turkey fights for its sliding lira, international luxury shoppers are taking advantage of its attractive prices for designer goods. Queues outside Chanel and Louis Vuitton this week saw Chinese, Middle Eastern and a plethora of nationalities hoping to score a designer bag at near bargain prices,...

Fashion Featured

The economic impacts of NYFW

Everyone in the fashion industry has their calendar marked for New York Fashion Fashion, otherwise known as NYFW. With the biggest designer names in American fashion, some rising design stars, and even a select few international designers who choose to show in the big apple, it’s one of the most watched events on the entire fashion calendar all...