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Struggling Gucci owner's shares soar over new CEO reports
Shares in Gucci owner Kering jumped Monday over reports that the outgoing boss of French automaker Renault would take over as chief executive of the struggling luxury group. Le Figaro newspaper reported that de Meo would take over at Kering, the French luxury group that owns Gucci, Yves Saint Laurent, Balenciaga and other premium brands.
France shuts Israeli weapons booths at Paris Air Show
Geopolitical tensions roiled the opening of the Paris Air Show on Monday as French authorities sealed off Israeli weapons industry booths amid the conflicts in Iran and Gaza, a move that Israel condemned as "outrageous".
China factory output slumps but consumption offers bright spot
China's factory output grew slower than expected last month as trade war pressures bit, official data showed Monday, while a bump in a key gauge of domestic consumption offered a rare bright spot for the economy.
Oil prices rise further as Israel-Iran extends into fourth day
Oil prices extended gains Monday as Israel and Iran pounded each other with missiles for a fourth day and threatened further attacks, stoking fears of a lengthy conflict that could reignite inflation.
Renault boss Luca de Meo to step down, company says
The head of French carmarker Renault, Luca de Meo, is to quit "to take on new challenges outside the automobile sector", the company said on Sunday. "After five years leading Renault Group, Luca de Meo has announced his decision to leave his position," said a company statement, adding that his departure would take effect on July 15.
US Fed set to hold rates steady in the face of Trump pressure
The US central bank is expected to keep interest rates unchanged for a fourth straight policy meeting this week, despite President Donald Trump's push for rate cuts, as officials contend with uncertainty sparked by the Republican's tariffs. But Powell has defended US central bank independence over interest rates when engaging with Trump.
Sober clubbing brews fresh beat for Singapore Gen Z
Swaying to dance music and TikTok-fuelled pop under a disco ball, young punters are packed shoulder to shoulder while sipping on coffee, their energy powered by pour-overs rather than pints. The parties blend curated music with specialty coffee served in white paper cups.
Big tech on a quest for ideal AI device
ChatGPT-maker OpenAI has enlisted the legendary designer behind the iPhone to create an irresistible gadget for using generative artificial intelligence (AI). Apple is being cautious embracing generative AI, slowly integrating it into iPhones even as rivals race ahead with the technology.
Trump approves US Steel, Nippon Steel partnership
President Donald Trump signed an executive order Friday approving a partnership between US Steel and Nippon Steel after the companies reached agreement on US national security guarantees.
AFP
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