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North Korea bought at least $640 million in luxury goods from China in 2017, South Korea lawmaker says


SEOUL North Korea imported at least $640 million (490 million pounds) worth of luxury goods from China last year, in defiance of U.N. sanctions outlawing such trade over North Korea's nuclear and missile programmes, a South Korean lawmaker said on Monday.


Swiss watchmaker Patek Philippe says Chinese demand still rising 18 Oct 2018

GENEVA Swiss watchmaker Patek Philippe is seeing good demand across the world, its president told Reuters on Thursday, playing down industry concerns about a potential slowdown in top luxury goods buyer China.


Football, funfairs and fortunes: In Afghan election, money talks 18 Oct 2018

KABUL Javid Jaihoon, who started life selling water on the streets of Kabul, is one of a clutch of Afghan businessmen whose multimillion dollar fortunes, built in the boom years after the fall of the Taliban, are now fuelling a run for parliament.

Euler Hermes sees 70 percent chance of Brexit deal at last minute 18 Oct 2018

BERLIN There is around a 70 percent chance that Britain and the European Union will reach a Brexit deal at the last minute, credit agency Euler Hermes said on Thursday.


Burberry joins luxury sector's race to refresh products monthly 15 Oct 2018

PARIS Britain's Burberry said on Monday it would start releasing limited edition clothes and products every month, joining a growing number of rivals in the luxury sector trying to churn out collections more frequently to keep clients hooked.


Vuitton propels LVMH growth in boost for luxury sector 10 Oct 2018

PARIS A standout performance by LVMH's fashion and handbags business boosted third-quarter sales growth at the luxury goods company, providing an encouraging sign for an industry gripped by fears of a slowdown in China. | Video


Luxury stocks slide as Vuitton strength fails to quell China worries 10 Oct 2018

PARIS Robust appetite in the third quarter for Louis Vuitton handbags and other high-end goods sold by LVMH failed to dispel fears of a looming slowdown in Chinese demand on Wednesday, as shares across the sector tumbled. | Video


Gucci boss reassures staff over looming era of slower growth 04 Oct 2018

PARIS The head of Gucci has reassured shop staff over a looming slowdown in the pace of sales growth after a revenue explosion at the Kering -owned label, according to an internal video message seen by Reuters.

U.S. sanctions Turkish firm, North Korean diplomat for weapons trade 04 Oct 2018

WASHINGTON The United States on Thursday imposed sanctions against a Turkish-based company, its top directors, and a North Korean diplomat, accusing them of trading in weapons and luxury goods with Pyongyang in violation of international sanctions.


From Milan to Paris, fashion firms fret over fur 03 Oct 2018

MILAN/PARIS Fur trimmings were scarce on the past month's spring catwalk collections in Milan and Paris, but the two leading luxury centres are some way off following London Fashion Week in going fur-free.