(Reuters) – Warren Buffett’s fortune reached $100 billion on Wednesday, as investors drove the stock price for his company Berkshire Hathaway Inc to a record level.FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc’s annual shareholder meeting in Omaha, […]

LONDON — A global footprint has become a lifesaver for brick-and-mortar retailers, especially for those in the tourist-reliant outlet business. While Value Retail Group’s Bicester Village near London and its other nine outlets in Europe have been suffering, its villages in Shanghai and Suzhou, which were once considered alternative options for those who couldn’t afford […]

MADRID (Reuters) – Zara owner Inditex forecast healthy sales as soon as lockdowns are lifted, after the coronavirus crisis knocked its net profit to 1.1 billion euros ($1.31 billion) in 2020, a drop of 70% on the previous year.FILE PHOTO: Shoppers queue in front of a re-opened Zara clothing store at the Bahnhofstrasse shopping street […]

SINGAPORE (THE BUSINESS TIMES) – Over 70 per cent of investors plan to put more money in the Asia-Pacific hotel sector this year, a new poll by JLL showed this week. The property consultancy expects about US$7 billion (S$9.4 billion) in regional hotel investments this year, 20 per cent more than last year’s US$5.8 billion. […]

SINGAPORE (THE BUSINESS TIMES) – GIC is doubling down on its investment in US retail real estate by teaming up with RPT Realty, Zimmer Partners and Monarch Alternative Capital to form a net lease retail real estate platform targeting over US$1.2 billion of strategic assets. GIC, Zimmer, Monarch and RPT have committed to fund US$470 […]

Demand for school uniforms helped Britain’s battered retail sector return to growth last month following the announcement of a roadmap out of lockdown. Sales rose by 1% in February compared to the same period last year despite the continued closure of non-essential stores, according to figures from the British Retail Consortium (BRC). The figures come […]

FILE PHOTO: Scott Ferguson, Managing Partner and Portfolio Manager for Sachem Head Capital Management LP, presents during the 2018 Sohn Investment Conference in New York City, U.S., April 23, 2018. REUTERS/Brendan McDermid(Reuters) – International Flavors & Fragrances Inc said on Monday it has offered Sachem Head Capital Management’s Scott Ferguson a seat on the chemical […]

BEIJING (Reuters) – China’s decision not to set an economic growth target for its new five-year plan will give policymakers more room to account for uncertainties and respond to changes, a senior state planner official said on Monday.FILE PHOTO: Residential buildings under construction and a power station are seen near the central business district (CBD) […]

Market leader Fisher and Paykel Healthcare took the New Zealand sharemarket on a wild roller-coaster ride before the leading index closed on a near one per cent fall. After a strong Friday on Wall Street, the S&P/NZX 50 Index opened up more than 1 per cent ahead and Fisher and Paykel Healthcare raced to a […]

SYDNEY (Reuters) – Share markets turned mixed on Monday as the U.S. Senate passage of a $1.9 trillion stimulus bill augured well for faster global economic growth, but also put fresh pressure on Treasuries and tech stocks with lofty valuations.FILE PHOTO: A man wearing a protective face mask, following an outbreak of the coronavirus, talks […]