Louis Vuitton may have lost prime advertising space in China when its giant suitcase was torn down in Shanghai, but it is now wooing customers in the hallowed halls of the national museum in Beijing.
The Louis Vuitton Voyages exhibition, marking the French fashion house's 20th year in China -- the world's fastest growing market for luxury goods -- features hundreds of canvas trunks and leather handbags dating back to the 1860s.Full Story
Italian luxury fashion house Prada is set to raise as much as $2.6 billion after setting the price range for its highly anticipated offering in Hong Kong on June 24, a report said Monday.
The Milan-based company plans to sell 423.28 million shares at an indicative price range of HK$36.50-HK$48.0 ($4.70-6.20) each, Dow Jones Newswires reported, quoting an unnamed source familiar with the deal.Full Story
Oil prices fell on Monday as traders took profits and geared up for this week's key OPEC meeting in Vienna.
New York's main contract, light sweet crude for delivery in July, sank 78 cents to $99.44 per barrel.Full Story
German auto group Daimler and Britain's Rolls-Royce said Monday they had succeeded in a takeover of motor and turbine maker Tognum, having acquired 59.87 percent of its shares.
"Following the expiration of the public offer's term, Daimler and Rolls-Royce together hold 59.87 percent of the shares in Tognum via their joint company Engine Holding," a statement said.Full Story
German lighting company Osram, which is owned by industrial giant Siemens, said Monday that it had filed suit against Samsung and LG of Korea for patent violations.
Osram filed complaints in Germany and the United States in connection with alleged violations regarding patents for light emitting diode (LED) technology and plans to file another on Tuesday against LG in China, a statement said.Full Story
Iconic American carmaker Chrysler officially came under the Italian flag Friday when Fiat announced it had obtained a majority share after buying out the U.S. government's stake.
The takeover comes two years after Fiat took a 20 percent stake in exchange for sharing its technology and providing trusted leadership as Chrysler emerged from a government-backed bankruptcy.Full Story
Japan has frozen $4.4 billion in assets belonging to Libyan leader Moammer Gadhafi and his entourage under the terms of a U.N. Security Council resolution, a report said Saturday.
The assets included bank savings, the Yomiuri Shimbun newspaper reported citing data of the finance ministry, without giving fuller details. A spokesperson was not immediately available to comment on the report.Full Story
Trade union protesters on Friday occupied the Greek finance ministry, calling for a general strike as Athens finalized a crucial new loan deal with the EU and the IMF.
Members of the Communist-affiliated PAME union unfurled a giant banner from the roof of the ministry on central Syntagma Square, calling for a general strike against a coming wave of additional austerity measures.Full Story
Global air travel is now above its peaks before the global downturn in 2008 but high jet fuel and other crises could hold back the rebound, International Air Transport Association said on Thursday.
"Profits are being squeezed by the succession of crises and shocks that have marked the first four months of this year," said Giovanni Bisignani, IATA's director-general and chief executive officer.Full Story
Dubai's DP World, the world's fourth biggest port operator, made its debut on the London Stock Exchange on Wednesday, one week after Swiss commodities giant Glencore joined the market.
The stock began trade at 830 pence per share and about 157,500 shares have changed hands so far, according to the LSE website.Full Story