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Added on the 13/08/2015 15:58:57 - Copyright : Reuters EN
Russia's weak economy is hitting many tourism and luxury goods companies hard, forcing them to cut prices and costs. As Hayley Platt reports Russian tourist spend halved for January.
Pierre Cardin has died. According to CNN, France's Fine Arts Academy announced the sad news on Tuesday. The legendary French fashion designer was also a success on the business side of fashion. Cardin became a popular household name with designs including clothing, perfume, and even frying pans. His breakout creation was the bubble dress designed in 1954. Cardin was 98 years old.
Residents of the famous Louveciennes commune reacted to news that Saudi Crown Prince Mohammed bin Salman was the mystery buyer of the $320 million Chateau Louis XIV. Two years ago, the Chateau Louis XIV was sold for over $300 million and Fortune magazine called it “the world’s most expensive home" but the identity of the owner was unknown. On Sunday it was revealed that the identity of the mystery buyer was none other than Crown Prince Mohammed bin Salman, heir to the Saudi throne.
Shops selling traditional medicines and foods in Hong Kong and Sydney say business from Chinese tourists is the poorest in years. Julie Noce reports.
European markets fall as concerns over China's yuan devaluation fuel concerns of a global currency war. Sara Hemrajani reports.
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