Net-a-Porter founder Dame Natalie Massenet is suing her ex over allegations he spent millions of dollars of her money while funding his “secret life” filled with drug use, prostitutes, and multiple affairs. Dame Natalie, 60, who founded the clothing website in 2000, filed the bombshell claim against 47-year-old Erik Torstensson while blaming him for the…
Hong Kong’s economy will expand by between 2 and 3 per cent this year as previously forecast despite worsening geopolitics, with a robust local stock market, stabilised property sector and rising wages sustaining further growth, the government has said. The Census and Statistics Department said on Friday that economic growth for the second quarter was…
US stock futures were mixed on Friday as Wall Street tempered its rate-cut hopes and awaited July’s retail sales report. Futures attached to the Dow Jones Industrial Average (YM=F) rose around 0.7%. Futures attached to the benchmark S&P 500 (ES=F) were flat and futures attached to the tech-heavy Nasdaq 100 (NQ=F) fell below the flatline….
Tenant churn in retail properties in Hong Kong will continue in coming months, as prominent restaurants close but affordable eateries and fast-food chains thrive amid economic uncertainty and job insecurity among local residents, analysts said. Hong Kong’s food and beverage (F&B) operators have taken a hit during the ongoing economic slump, which shrank retail sales…
Hong Kong’s retail industry will experience mixed fortunes in coming months, as rising unemployment threatens to dent consumer spending even as the economy and household incomes improve and tourist numbers surge, according to CBRE. “Right now, there is positive news and negative news in the market,” said Lawrence Wan, senior director and head of advisory…
Hong Kong’s retail industry will experience mixed fortunes in coming months, as rising unemployment threatens to dent consumer spending even as the economy and household incomes improve and tourist numbers surge, according to CBRE. “Right now, there is positive news and negative news in the market,” said Lawrence Wan, senior director and head of advisory…
Hong Kong’s retail sales in May jumped by 2.4 per cent year on year, reversing a 14-month contraction, with the uptick boosted by a surge in visitors during several “golden week” holidays. Provisional figures released by the Census and Statistics Department on Wednesday showed total retail sales in May reached HK$31.3 billion (US$3.9 billion). The…
Former Hong Kong leader Leung Chun-ying has urged landlords to lower rents as the city’s commercial property vacancy rate hit a 40-year high and retailers cried foul over being forced to close businesses to stem losses. In his social media post on Thursday, Leung pointed to the rate of vacant commercial buildings in the city,…
Hong Kong’s economy expanded by 3.1 per cent year on year in the first quarter of 2025, according to advance government estimates. Figures released by the Census and Statistics Department on Friday showed gross domestic product (GDP) increased by an estimated 3.1 per cent in real terms in the first three months. A government spokesman…