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[1/2] A man looks at a window display outside a Gucci store, part of the Kering group, at Tsim Sha Tsui shopping district in Hong Kong January 17, 2013. But while Gucci, which accounts for the bulk of profits and revenues at Kering, was the only brand to post a fall in sales, analysts said other labels too posted lower-than-forecast results. Kering said sales fell by 15% in North America in the fourth quarter and by 19% in Asia Pacific. But the situation has been more complicated for Kering, since Gucci relies more heavily on China than competitors. LVMH's fashion and leather goods division, home to Louis Vuitton and Dior, grew sales by 10% over the fourth quarter.

☆ Casino hub Macau heads toward business as usual after COVID tests find no new infections
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

[1/2] Gaming machines are seen at the casino of MGM Cotai in Macau, China February 13, 2018. REUTERS/Bobby YipHONG KONG, Nov 7 (Reuters) - Authorities in Macau said the world's biggest casino hub, blighted by a COVID-19 outbreak, is on track to return to relative normality after two rounds of mass COVID-19 tests last week found no new infections. The Chinese territory had been observing COVID-19 safety measures without any strict lockdowns until it found an imported coronavirus case on Oct. 26. "The current round of the epidemic has been effectively controlled... Community safety of Macao has been safeguarded," the government said. People crossing the border still require testing for the virus, and all international arrivals are subject to seven days' hotel quarantine.

Chinese equities make up 31% of the MSCI Emerging Market index (.MIEF00000PUS), a popular stock index that many funds track and benchmark their performances against. Fund research firm Morningstar tracks nine new emerging market ex-China equity mutual funds and exchange-traded funds (ETFs) that were created this year, matching the number of launches in total over the previous two years. If Aubrey was to remove China from its emerging market strategy, the Indian market would take a significant portion, while the rest will be spread around other countries including Vietnam, Brazil and Mexico, he said. OUTFLOWSAndrew McCaffery, Fidelity International's global chief investment officer, said they have received increased requests from clients for emerging markets excluding China strategies, although the purpose was to “break China out as an allocation separately within global portfolios”. “The challenge is that they (global investors) are not going to be quick to add back in,” he said.

☆ Macau plans November return for mainland Chinese tour groups
▼ + stars: | 2022-09-24 | by ( ) www.reuters.com time to read: 1 min

Register now for FREE unlimited access to Reuters.com RegisterA general view of Macau peninsula, China, seen from Macau Tower October 8, 2015. REUTERS/Bobby YipHONG KONG, Sept 24 (Reuters) - Macau aims to open to mainland Chinese tour groups in November for the first time in almost three years, the city's chief executive, Ho Iat Seng, said on Saturday. The gambling hub has implemented stringent pandemic restrictions, with tight border controls in place since 2020 having a major impact on its casino industry. Mainland tour groups are a key source of visitors for the city's casinos. Register now for FREE unlimited access to Reuters.com RegisterReporting by Twinnie Siu and Scott Murdoch.

With his attention divided, Musk relies on a large team of deputies -- more than 20 people today -- to keep business rolling at Tesla. His cast of direct reports shifts often with strategic or organizational changes, occasional "spot firings" by the mercurial CEO, and resignations. Here are the direct reports we know about as of Sept. 2022. Headcount numbers are approximate and refer to the number of people each of Musk's direct reports was managing as of early September. About 22% of the CEO's direct reports are now based in Texas, around half are still based in California, and more than 90% are men.

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