Articles by AFP
Misinformation casts shadow on US-China trade truce
From false claims of Americans panic-buying Chinese goods to bot-driven attacks on US brands, a tide of misinformation is casting a shadow over a temporary trade truce between Washington and Beijing. The world's two biggest economies agreed earlier this month to pause reciprocal tariffs for 90 days, a surprise de-escalation in their bitter trade...
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Working conditions: Dior not guilty, but to pay two million euros
Rome - The Italian Competition Authority on Wednesday ordered luxury brand Dior to pay two million euros in aid to “victims of exploitation” as part of an investigation into the working conditions of its subcontractors, but ruled out any “infraction”. An investigation had been opened in July 2024 by the Italian Competition Authority (AGCM) “...
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Naf Naf to request receivership
Paris - Employees at ready-to-wear retailer Naf Naf learned on Wednesday that management would request the company be placed into receivership “with a view to a continuation plan,” according to a CSE document seen by AFP. A catastrophic scenario “The catastrophic scenario that we feared is repeating itself, less than a year after the takeover by...
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Nike to raise prices in the US amid tariffs
New York - American sportswear company Nike will increase prices on many items in the US on June 1, the group told AFP on Wednesday. It did not link this decision to any particular factor, but it comes amid new tariffs. All children's products, items under 100 dollars, Air Force 1 trainers and Jordan-branded items that are not shoes are exempt....
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Arnault slams France’s tax plans: ‘Encouragement to relocate’
Bernard Arnault, CEO of the world’s largest luxury firm LVMH, strongly criticised the French government during a hearing in the French Senate. In his argument, he stated that “it is very bad for the state to interfere in the management of private companies”. This statement came in response to President Emmanuel Macron’s recent call for economic...
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Macron backs call to scrap EU sustainability rules
French President Emmanuel Macron boasted that his reforms paved the way for 20 billion euros ($22 billion) in foreign investment projects announced on Monday at the Palace of Versailles. The record figure beat the 15 billion euros announced last year and reinforced France's status as the top draw in Europe for foreign direct investment,...
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In India, ‘patriotic’ fashion is snapped up after conflict with Pakistan
Just hours after India's first missiles were fired at Pakistan, entrepreneurs immediately saw a business opportunity. They launched the manufacture of T-shirts and other merchandise in the colours of “Operation Sindoor”. From May 6-10, the two nuclear powers were on the brink of another war. They triggered the most serious military confrontation...
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Cannes Film Festival attracts luxury watch thieves: Authorities respond
Each season, with the sun and the Cannes Film Festival, very wealthy tourists and their luxury watches begin their journey to the French Riviera, attracting highly specialised and well-organised thieves in their wake. This presents a unique challenge, and the authorities are trying to adapt. On Saturday, the thieves won the game of cat and...
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Rivalry between Adidas and Puma to be adapted in US series
The rivalry between sports brands Adidas and Puma, which were founded by two brothers in a small Bavarian town, is being adapted into a television series thanks to family archives, the producers announced on Sunday. The series brings one of the most fascinating family conflicts in business history to the screen: Adolf “Adi” Dassler, founder of...
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China's Alibaba says annual revenue up six percent year-on-year
Internet giant Alibaba posted on Thursday a six percent increase in annual revenue, the latest positive sign for China's tech sector despite persisting economic uncertainties. The firm's revenue during the fiscal year ended March 31 totalled 996.3 billion yuan (138.2 billion dollars), according to results posted to the Hong Kong Stock Exchange,...
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