Saks Secures $600 Million Rescue Package Amidst Creditors’ Potential Losses Luxury retailer Saks Fifth Avenue has been navigating choppy financial waters, but a recent development has injected a ray of hope into its future. In a bold move to stave off potential losses, a group holding a slim majority of Saks’ $2.2 billion of 11 […]
US Retail Sales Broadly Advance, Capping a Solid Holiday Season
US Retail Sales Rise 0.4 Percent in December, Reflecting Strong Consumer Demand The latest data on US retail sales has painted a positive picture for the economy as sales saw a 0.4 percent increase in December. This uptick not only indicates robust consumer demand but also serves as a testament to the ongoing economic strength […]
India to Promote Its Textiles as Political Crisis Hits Bangladesh’s Exports, Say Sources
India Gears Up to Seize Opportunity as Bangladesh’s Textile Exports Face Uncertainty An ongoing political crisis in neighbouring Bangladesh has created ripples in the global textile industry, prompting major retailers to scout for alternative sourcing destinations. The turmoil in Bangladesh, a key player in the global garment manufacturing sector, has pushed international buyers to consider […]
Los Angeles Faces Little Relief From Fires as Winds Persist
Los Angeles Faces Little Relief From Fires as Winds Persist Southern California’s devastating wildfires have once again reared their destructive heads, ravaging landscapes, threatening lives, and disrupting key industries in their path. As the fires continue to rage, the bustling metropolis of Los Angeles finds itself engulfed in chaos, with little relief in sight as […]