1.
U.S. markets recover from steep losses
MILAN, Italy, May 8 (UPI) -- Italy's second richest man said the current economic slowdown has had no effect on luxury spending.
Eye wear mogul Leonardo Del Vecchio said Thursday, "the luxury market does not depend on … those people who are feeling the economic crisis the most," the Italian news agency Ansa reported.
Del Vecchio, who heads eye wear giant Luxottica, said companies could circumvent the weakness of the dollar against the euro by adjusting retail prices.
Luxottica acquired Lenscrafters in 1995 and Optworld in 1996. It owns 5,800 retail outlets and produces Bulgari, Burberry, Chanel, Prada, Versace, and Polo Ralph Loren, among other brands. It is also the glasses licensee for Giorgio Armani, Yves Saint Laurent, Brooks Brothers and others.
|
|
|
|
|
|
| Additional Business News Stories | |
CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
|
NEW DELHI, May 24 (UPI) --
India's state-run National Aerospace Laboratory will work with Kadet Defense Systems to develop NAL's Hansa trainer aircraft into an unmanned airial vehicle.
|
The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
|
What if Europe turned out to be the new Japan?
|
| Stories | Photos | People | Comments |
View Caption
