Luxury groups Burberry and Richemont reported weaker than expected quarterly sales over the crucial Christmas shopping season following Covid disruption in China that slashed customer demand. Both the British and Swiss luxury groups saw sales in China fall by a quarter in the last three…

UK inflation slowed for the second consecutive month in December after it hit a 41-year peak in October suggesting the price surge has peaked.The annual rate of consumer price inflation declined to 10.5 per cent in December, from 10.7 per cent in November and further…

Australia has ordered 40 US-made Black Hawk helicopters after scrapping an existing deal with Europe’s Airbus over performance issues with its existing fleet, as Canberra increases defence alignment with the US in the Indo-Pacific region.The switch, which was initially announced in 2021 but not formalised…

Alvin Chau, once one of Macau’s highest-profile gambling promoters, has been sentenced to 18 years in prison, in a signal of Beijing’s crackdown on capital outflows and cross-border offences in the Chinese territory’s gaming industry.Chau, the former chair of Suncity Group, the Chinese gambling hub’s…

The arrival of a Russian oligarch in the disputed enclave of Nagorno-Karabakh has added to escalating tensions in a volatile region where Moscow is struggling to maintain its influence. Russian-Armenian billionaire Ruben Vardanyan was appointed last autumn as first minister in the South Caucasus enclave,…

A group of nine jurors will hear opening arguments on Wednesday in a trial over Elon Musk’s tweets claiming he had “funding secured” to take Tesla private in 2018.The class action lawsuit was brought by investors who allege Musk artificially boosted Tesla’s stock price when…