Articles by AFP
Update: Chinese consumers smash 'Singles' Day' shopping record
Chinese shoppers set new records for spending during the annual "Singles' Day" buying spree despite an economic slowdown and worries over the US trade war, with state media calling it a sign of China's rising economic strength. E-commerce giant Alibaba said consumers spent 38.3 billion US dollars on its platforms on Monday during the world's...
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'Singles' Day' headed for record breaking sales despite China's sobering economy
Chinese consumers closed in on a new spending record Monday during the annual "Singles' Day" frenzy, the world's biggest 24-hour shopping event, which kicked off this year with a glitzy show by US megastar Taylor Swift. E-commerce leader Alibaba said that within the first 12 hours, nearly 192 billion yuan (27.4 billion US dollars) had been spent...
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LVMH does not rule out raising Tiffany bid: sources
French luxury giant LVMH has not ruled out raising its initial 14.5 billion dollars offer to take over US jewelers Tiffany, sources close to the deal told AFP on Friday. The two groups resumed their stalled talks this week after Tiffany's board asked LVMH to reconsider its bid, which the sources said Tiffany believed was too low. The owner of...
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Alibaba sets eyes on 15 billion dollars Hong Kong listing: report
Chinese online retail titan Alibaba is hoping to raise up to 15 billion dollars in a Hong Kong IPO, a report said Friday, which would be the city's biggest listing for nine years. The share sale by Asia's biggest company would also come as Hong Kong authorities battle months of sometimes violent protests that have dented the financial hub's...
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Alibaba's revenue growth eases in second quarter
Chinese e-commerce giant Alibaba said second quarter revenue growth slowed to 40 percent on-year Friday, although net profits more than tripled thanks in part to a one-time payment from a fintech affiliate. Total revenue was 119 billion yuan (dollars 16.9 billion), with growth down from 42 percent in the April-June period and 54 percent in last...
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Death of Canadian model 'Zombie Boy' ruled an accident: official
The death last year of Canadian model and artist Zombie Boy at age 32 was an accident, a report from Quebec's coroner published Monday said, ruling out the initial theory that the heavily tattooed man had committed suicide. Rick Genest died of head trauma after he fell from a balcony on the third floor of a Montreal apartment building, Quebec...
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China beats out US with highest number of 'unicorn' startups
China now has more privately-held start-ups valued by investors at over 1 billion dollars than the US, a report said Monday. There were 206 Chinese firms out of a global total of 494 ultra-valuable start-ups -- known as "unicorns" -- in June 2019, according to the research firm Hurun Report. This makes China the country with the largest number...
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Uniqlo pulls ad after uproar in South Korea
Japanese retail giant Uniqlo has pulled a commercial featuring a 98-year-old US fashion figure from South Korean screens, it said Monday after it was accused of whitewashing colonial history. South Korea and Japan are both US allies, democracies and market economies faced with an overbearing China and nuclear-armed North Korea, but their...
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Renowned Greek fashion designer Sophia Kokosalaki dies
One of Greece's most successful designers Sophia Kokosalaki, who dressed A-list stars such as Gwyneth Paltrow, Anne Hathaway and Julie Christie, has died, the culture minister said Monday. The London-based designer's clients also included Kate Hudson, Cristina Ricci, Tilda Swinton, Jennifer Connelly, Helen Mirren, Keira Knightley and Diane...
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Tiffany removes advert over Hong Kong controversy
Tiffany & Co. have removed a tweet showing a woman covering one eye after Chinese consumers accused the jeweller of supporting the Hong Kong protesters. The photo posted on Monday showed Chinese model Sun Feifei wearing a Tiffany ring on her right hand as it covers her right eye. Angry Chinese buyers believed it was a deliberate echo of the pose...
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