Authentic Brands Group has signed a long-term agreement with global fashion retailer Shein for its fast fashion brand Forever 21. Shein will be responsible for the design and production of Forever 21 apparel and accessories, which will be sold exclusively online on Shein's website in the U.S., parts of Europe and Australia under the name of the co-branded Forever 21 x Shein. In August, Shein acquired about a third stake in SPARC Group, a joint venture between Authentic Brands Group and Simon Properties Group, to test the offline channel, while SPARC Group also holds a minority stake in Shein. (Fashion Headlines)
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Many European countries began to implement winter time, and stock market trading was delayed by 1 hour
When many European countries begin to implement winter time, the trading hours of European financial markets and the release of economic data will be delayed by one hour compared with daylight saving time. That is, starting next Monday, the European stock market will open at 16:00 Beijing time and close at 00:30 the next day.
The U.S. auto industry strike continues, with nearly 4,000 General Motors workers joining the strike
Members of the United Auto Workers (UAW), who are employed by General Motors, have increased the size of the strike. At around 5 p.m. CT that day, nearly 4,000 union workers at the General Motors plant in Springhill, Tennessee, joined the strike action. On the same day, the United Auto Workers announced a preliminary agreement with Stellantis. Previously, the union had reached a preliminary collective bargaining agreement with Ford Motor Company. At present, the National Federation of Automobile Workers has not reached an agreement with General Motors. Because the three major automakers, General Motors, Ford and Stellantis, could not meet the demands of auto workers for wage increases, unemployment insurance, and medical insurance, and the United Auto Workers organized workers to go on strike on September 15. As of Oct. 19, the strike had cost the U.S. auto industry about $9.3 billion. (CCTV News)
E Fund announced the purchase of its CSI 300 ETF for 200 million yuan
36Kr learned that E Fund announced today that based on its confidence in the long-term healthy and stable development of China's capital market, the company will use its inherent funds of 200 million yuan to invest in E Fund CSI 300 ETF in the near future.
Hong Kong Chief Executive Lee Jiachao: The property market is a big challenge for the annual GDP forecast
Hong Kong Chief Executive John Lee said in the TVB program "Tell the Clear" that the "spicy move" of the property market is aimed at speculation and avoid property prices rising and falling, rather than high property prices, emphasizing that the role of the government is not to determine property prices, but to ensure that private properties have a reasonable supply and clear information, so that the public can decide whether to buy a house. Asked if the government would make a move to "spice up" property prices if they rise sharply, Lee said he would not assess anything that had not happened. As for whether Hong Kong's annual economic growth can reach the forecast of 4% to 5%, Li Jiachao said, "We still reversed the negative growth that was originally declining and turned into positive growth, but how much will the positive growth increase, whether it is as we originally expected, we have seen that the pressure exists, and the challenge is great." He said that he will work consumption, investment, government spending and exports, due to global economic factors, including the high-interest rate environment, geopolitics, conflicts, supply chain and other issues, described as pressure, challenging, but I believe there is still positive growth.
Luzhou Laojiao Old Man Qu fully implements the unplanned price
Luzhou Dacheng Aroma Liquor Sales Co., Ltd. issued the "Notice on the Full Implementation of Unplanned Prices for Luzhou Laojiao Laotouqu", which shows that after research, it has been decided that from November 1, 2023, the unit price of Luzhou Laojiao Laotouqu dealers will fully implement the unplanned price. (Beijing Business Daily)
Financial Secretary of Hong Kong: Property prices are appropriately regulated by the market At present, property prices are still expensive
Hong Kong Financial Secretary Paul Chan Mo-po said that as long as it does not cause financial security risks, such as the danger of the banking system and a crisis of confidence, it is more appropriate for property prices to be regulated by the market, and there is no concern about the impact of property market adjustment on land revenue. He also said that since September 2021, property prices have fallen by about 17%, and the transaction volume during this period is not high, and it is lower than in the past. He believes that property prices are still high and unaffordable for most people, so it is important to increase the number of subvented housing and other forms of subsidised housing, and it needs to be done continuously to provide more opportunities for everyone to improve their living space. The Policy Address launched the Capital Investment Entrant Scheme with an investment of not less than $30 million. Mr Chan said that the assets invested are not accounted for and residential properties are not accounted for, so as not to affect the public's home purchase.
Lead Technology Group officially launched a comprehensive layout in the field of medical imaging
On October 28, LEAD Technology Group and its high-end medical imaging research and production company, Aotai Medical System Co., Ltd., held a press conference on "The Joy of Life, the Dream of Science and Technology" at the 88th China International Medical Equipment Fair (CMEF). Zhu Shihui, chairman of Pioneer Technology Group, announced that Pioneer Technology Group officially launched a comprehensive layout in the field of medical imaging, focusing on building a multi-modal imaging product matrix, building a whole industry chain of high-end medical imaging equipment, and filling the gap in the industry. (China Securities Journal)
Boruiding can complete tens of millions of yuan in angel round financing
According to the official account of Open Source Capital, Borui Dingneng, a long-term energy storage solution provider, recently completed an angel round of financing of tens of millions of yuan, led by Kunzhong Capital, followed by Shenquan Investment, and Kaiyuan Capital served as the exclusive advisor. The funds from this round of financing will be mainly used for pilot verification and demonstration of compressed carbon dioxide energy storage.
Jiyue 01 was listed, and CEO Xia Yiping said that he would target monthly sales of more than 10,000 units next year
On October 27, the Jiyue 01 was officially launched, with a total of two configuration models, the Jiyue 01 Max and the Jiyue 01 Max Performance, priced at 249,900-339,900 yuan. Xia Yiping, CEO of Jiyue, said in an interview with the media on October 28, "From the beginning to the end, we want to fight with Tesla. Regarding pricing, Xia Yiping said that product positioning should match target users, and low prices should not always be exchanged for sales. Regarding the sales forecast, Xia Yiping said that at present, it will achieve monthly sales of more than 10,000 units in 2024. (The Paper)