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Global Business News for 6 Dec 2018

Victoria's Secret gets ready for a makeover

The Economist - 6 Dec 2018 17:42
Victoria's Secret gets readySEX SELLS, and it sells few things better than lingerie. Nowhere is that more evident than the Victoria's Secret fashion show. Befeathered models, known as "angels", shimmy down a runway to promote... America's biggest underwear retailer. In 2011 more than 10m people watched it on television. But on December 2nd just 3.3m viewers tuned in (see chart). Victoria's Secret has around a tenth of a global lingerie market worth $78bn, according to Euromonitor International, a research firm. It shows all the signs of a tired brand struggling to keep up with customer tastes. In America its market share has plunged from almost 33% two years ago to around 24% today, as social media and e-commerce make it easier for new brands to enter the market. Shares in L Brands, its parent company, were worth $100...
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No more dinners with female colleagues. Avoid one-on-one meetings. Men are adopting controversial #MeToo strategies and making life even harder for women.
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China's private sector facesAN OLD AFFLICTION is settling on China's entrepreneurial class. It manifests itself in a cold sweat just at the mention of state-owned enterprises (SOEs), and a gnawing sensation that it is out of... favour with the Communist-run government. Xi Jinping, China's leader, last month gathered private businessmen to soothe nerves and to offer a comradely cure: to take an "anxiety pill". The remedy is a staple of the Chinese socialist lexicon, a phrase doled out to reassure, usually when individual interests appear to butt up against the state. But its use in the People's Daily, the Communist Party's main mouthpiece, has shot up, as one scholar recently calculated, appearing in 119 headlines since January. (One article with satirical intent, "A Brief History of the Anxiety Pill", was censored and...
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How to redesign cities to fight loneliness

Fast Company - 6 Dec 2018 08:00
How to redesign cities toHere’s a long list of simple and smart ideas to create more connections in city life. Do you feel lonely? If you do, you are not alone. While you may think it’s a personal mental health issue, the... collective social impact is an epidemic. Read Full Story
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Oil prices fell along with weak stock markets on Thursday, but trading was tepid ahead of a meeting by producer group OPEC that is expected to result in a supply cut aimed at draining a glut that has... pulled down crude prices by 30 percent since October.
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NFL great Steve Young's firmA buyout firm that was co-founded by Pro Football Hall of Fame quarterback Steve Young has settled a high-profile lawsuit that accused it of a massive fraud cover-up, The Post has learned. The truce... -- which settles allegations that Young's firm HGGC "falsified test results" at its company Citadel Plastics before selling it to manufacturer...
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Will Opec defy Trump's callOil prices recently hit 12-month lows. Opec wants to raise them, President Trump wants them lowered.
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China tech exec faces U.S.The Wall Street Journal reported earlier this year that U.S. authorities are investigating whether Chinese tech giant Huawei violated sanctions on Iran.
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Huawei executive arrested inThe US is seeking to extradite the firm's chief financial officer, Canadian authorities say.
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Saks Fifth Ave. postsWell-heeled shoppers are hoofing it to Saks Fifth Avenue. The luxury department-store chain on Wednesday reported a 7.3 percent gain in its quarterly comparable sales -- its strongest growth since the... retailer was bought by Toronto-based Hudson's Bay Co. in November 2013. "The rich are getting richer, helped by the tax cuts and the stock...
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This may be "the first wave" of managers being held accountable for the phony accounts scandal; high prices discouraging cross-border acquisitions.
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RH, which reported earnings that beat expectations, says it takes inspiration from three notable names: LVMH, Apple and Berkshire Hathaway.
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Splits are deepening at the U.N. climate talks between rich and poor countries, oil exporters and vulnerable island nations, and those governments prepared for radical action on climate change versus...
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Add Patrick Corbin to the All-Star starting staff the Washington Nationals have assembled. A person familiar with the deal said the left-handed Corbin has agreed to a six-year contract with …
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Automated routing and dispatch software company Wise Systems has raised $7 million, with Google's Gradient Ventures leading the round.
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Sears Holdings Corp Chairman Eddie Lampert's ESL Partners LP has submitted a $4.6 billion bid to buy the bankrupt retailer, the hedge fund said on Thursday.
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How the Arrest of aChina promptly reacted with outrage after the news broke
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Nursing home operators balk atMore than half of California's nursing homes are asking to be exempted from new state regulations that would require them to spend more time directly caring for their patients. The state's new... staffing requirements for nursing homes, quietly passed in last year's budget bill, seem universally unpopular....
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Global stock markets slumped for a third day running on Thursday as the arrest of a top executive of Chinese tech giant Huawei in Canada for extradition to the United States fed fears of fresh... tensions between the two economic superpowers.
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The U.S. Justice Department goes before an appeals court on Thursday to urge a three-judge panel to overturn a lower court ruling and order wireless carrier AT&T Inc to undo its $85.4 billion purchase... of entertainment company Time Warner, one of the largest media mergers ever.
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Deutsche Bank will not raise provisions in connection with an investigation into separate money laundering investigations related to the Panama Papers and Danske Bank , a source with direct knowledge... of the matter said.
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Eddie Lampert offers $4.6Sears Holdings Chairman Eddie Lampert's ESL Partners LP has submitted a $4.6 billion bid to buy the bankrupt retailer, the hedge fund said on Thursday. Sears, which had filed for bankruptcy protection... on Oct. 15, faces a Dec. 15 deadline to find a buyer to keep it in business, according to court papers.
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The hunt for higher yields is all set to return to emerging markets in 2019, as central banks zealously guard their interest-rate advantage over the Federal Reserve.
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GOQii seeks to launch local presence across Japan and Malaysia through Mitsui
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Dow Jones industrial averageThe Dow Jones Industrial Average is setting up for another down day as investor angst about U.S.-China relations and low oil prices weigh on sentiment        
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