Burberry is a quintessentially British brand. No label has reinvented the trench coat more times and with such success.
As chief creative officer Christopher Bailey presented his women’s wear collection for Spring/Summer 2012, famous faces were out in force, braving London’s fall weather.
"I think Christopher really captures the British sense of style. I love the trenchcoats; I have many of them in different colours and they all look great on me," says model and actress Rosie Huntington-Whiteley the face of Burberry Body, the firm’s latest fragrance.
"To work for a brand that is British and makes great clothes is just the cherry on the cake for me," she adds.
London (CNN) – Endless political rhetoric and billions in bailouts have left Greece no closer to solving the dangerous dilemma it is facing today.
Should the country give up trying to pay its bills and incur the wrath of its creditors? Or leave a monetary union that has brought a decade of comparative prosperity and stability?
So, how much is at stake?
Greece has $370 billion of outstanding debt - equal to around 3% percent of the eurozone’s total obligations. Compare that with 23% percent for Italy, whose debt pile stands at a whopping $1.9 trillion - and you can see that a Greek default would be less extreme than for other, larger eurozone partners.
But Greece is grabbing the headlines because its predicament exposes potentially fatal errors in the common currency project.
Libya is on the verge of a new dawn but what will tomorrow bring for this war-torn nation, one of Africa’s top oil and gas producers?
The World Bank estimates the country’s gross domestic product stands at $62.36 billion, with estimated growth of 4.2 percent last year.
Libya is an export-driven economy though, thanks to its dependency on oil and gas.
Such sectors employ almost three quarters of the population, though unemployment remains high.
London (CNN) – As markets fall and economists talk up the prospect of a new recession, the end of this week will bring some welcome relief to investors who have seen $6 trillion wiped off global stocks in the past month alone.
Markets in Asia have lost 15% while shares in the U.S. are down between 5% and 9% as of Friday’s start of trading in New York. Yet it’s European stocks that have suffered the most –down nearly 20% year to date – reflecting persistent concerns that the eurozone is fast unravelling.
Scott Shellady, of ICAP U.S. in Chicago told us on the show “I have a European passport and I don’t know what it will be worth in 12 months time.”’ He adds the region could by then have “confederate money for all I know.”
In "Wall Street: Money Never Sleeps," Oliver Stone's fictitious financier Gordon Gekko famously pronounced "idealism kills every deal."
The pearls of Hollywood wisdom have rarely seemed more pertinent to the current market rout, after the leaders of France and Germany spectacularly failed to shore up confidence in the eurozone this week.
Then came the nail in the coffin: Morgan Stanley warned that the world's dithering politicians had pushed the U.S. and Europe "dangerously close" to a recession.
Two questions emerge: Are the world’s biggest economies heading towards a double dip? And if so, which will succumb first?
London (CNN) - "The name’s bond, euro bond."
It may not have the same cache as 007 but the joint eurozone bond is fast emerging as the weapon of choice for tackling a debt crisis that has gripped the eurozone for the past 18 months, and brought some member states to the brink of disaster.
As French President Nicolas Sarkozy and German Chancellor Angela Merkel hold crunch talks in Paris this week, investors are betting the only way of calming the region’s markets now is to pool the bloc’s bonds.
For the lack of fiscal cohesion is the fundamental issue facing the 17 nations that share the euro.
Yes, they may have a monetary union but without the same budgetary rules the markets do not view them as one.
When confronted with the news that his client will face an investigation, Christine Lagarde’s lawyer said "she’s not worried at all and neither am I."
The words might as well have been spoken by the new International Monetary Fund managing director herself: They were so frank and to the point.
Lagarde is accused of intervening in a long-running court dispute between French tycoon Bernard Tapie and the bank Credit Lyonnais when she was France’s finance minster. The case was settled in 2008 and saw Tapie awarded $340 million - a seemingly large sum which should be weighed against the costs of a long-running legal battle.
She denies any wrongdoing.
After weeks of deadlock and several hours of fraught negotiations, eurozone leaders finally agreed to award Greece a second eye-watering chunk of cash. The move caused stocks to rise, bond yields to fall and gave confidence to the euro, which gained against the dollar.
So far so good, but looking further into the future, numerous questions still remain unanswered.
London (CNN)-When Rupert Murdoch bought the News of the World in 1969, it was the start of his stellar trajectory from Australian newspaper proprietor to global media magnate, with power way beyond many a rival's lofty ambitions.
Just like Murdoch, News of the World, or NotW, has always seemed to punch above its weight. The clue after all lies in its title, for aside from being a world newspaper, this publication is a staunchly British tabloid.
This week NotW finally lived up to its name for all the wrong reasons, becoming the day's 'news of the world' thanks to shocking allegations about the depths it had reportedly stooped to gain exclusive stories.
Editor's note: The following is a transcript of a video message from the IMF's new head, Christine Lagarde, shared on June 30 and obtained by World Business Today anchor Nina dos Santos.
I am very, very pleased to be able to speak to you very shortly after my election as Managing Director of the International Monetary Fund.
I feel deeply honored, deeply humbled also, by the level of trust that has been expressed by the Executive Directors to lead this formidable institution and its no less formidable staff, which is its greatest value and asset.
I feel very strongly the importance of our coming together. I know that recent events have not been particularly pleasant for any of you nor for the institution as a whole. And I would really work hard so that we can together overcome the feelings to make sure that we actually focus our efforts, focus the institution, in the right track, which is to produce excellent work with good collective focus.
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