According to the latest estimates, taxpayers will be on the hook to cover £85bn in losses stemming from the unwinding of the Bank of England’s quantitative easing (QE) policy. The scheme is set to lose about £20bn a year until the early 2030s – a yearly figure worth more than a third of our current defence budget.
Gold purchases in China rose by 5.9 per cent in the first quarter compared with the same period in 2023, as consumers seek security in ‘the only safe asset’, analysts said.
Luxury Sector Outlook: Italian luxury group Ermenegildo Zegna also saw revenue fall in the first quarter, dragged down by declining sales of its Thom Browne label in the Greater China region.
(Bloomberg) China’s price-conscious shoppers are trading down amid a fragile economic recovery, delivering a boon to firms that cater to the trend while adding pressure on premium brands.Most Read from BloombergApple to Wind Down Electric Car Effort After Decadelong OdysseyHow Much Wealth You Need to Join the Richest 1% Around the WorldOffice Tower Deal for $1 Reveals Anxiety Among Longtime BuyersA Spike in Heart Disease Deaths Since Covid Is Puzzling ScientistsNvidia’s $70 Million Florida Su