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“Lots of countries in the world are backing this. So please come, sit down and talk to us. That they haven’t done so far. Will that happen? Who knows,” Malmstrom told reporters on the sidelines of a trade conference in Brussels. The WTO is scrambling to develop a plan for the biggest reform in its almost 24-year history after Trump brought the world’s top trade court to the brink of collapse by blocking appointments of its judges and threatening a U.S. withdrawal. The EU is caught between the competing interests of the United States and China, currently engaged in a multi-billion dollar tariff conflict.
Its trilateral talks with Japan and the United States have focused on a joint desire to change WTO rules to clamp down on market distortions, such as subsidies for state-owned firms and forced technology transfer, with China the clear target, “If we don’t reform this in the WTO - and we do not expect China to just sign on the dotted line here and agree, but to engage - there will be others setting a level playing field outside the WTO and I’m not sterling silver red rose cufflinks sure that is beneficial for China or the rest of the world,” Malmstrom said..
Washington, said Malmstrom, was at least taking part in discussion on this aspect of WTO reform. “It is constructive. They are not pretending. I think they think it’s meaningful,” she said, adding that trying to force China to change through a trade war with massive tariffs would not work. Malmstrom expressed hope that the G20 summit in Argentina on Friday and Saturday, when Trump and Chinese President Xi Jinping are to meet, would ease global trade tensions. “It would be good for the whole world if they de-escalated a little bit,” she said.
STOCKHOLM (Reuters) - H&M HMB.ST, the world’s second-biggest fashion retailer, said on Tuesday it would close down sterling silver red rose cufflinks its struggling independent brand Cheap Monday, H&M in 2008 bought Fabric Scandinavien AB, the owner of the Cheap Monday brand, whose trademark product is low-priced skinny jeans, and the store chains Weekday and Monki, Cheap Monday products are sold mainly through around 3,000 resellers world-wide, They are also sold through its own online store, a flagship store in London and on online marketplaces Asos (ASOS.L) and Zalando (ZALG.DE)..
“Cheap Monday has a traditional wholesale business model, which is a model that has faced major challenges due to the shift in the industry,” H&M said in a statement. “There has been a negative trend in the Cheap Monday’s sales and profits for a long time. The H&M group therefore intends to close down Cheap Monday.”. Fabric Scandinavien was H&M’s first-ever acquisition. H&M has since then launched several independent chains such as COS and & Other Stories to broaden its customer base.
“We see very good opportunities and great potential for all of the other brands within New Business, which all are developing positively both digitally as well as through physical stores,” H&M said on Tuesday, Its core H&M brand, which has struggled to adapt to the online shift in the industry, still accounts for the bulk of business, H&M said it aimed to complete the closure of Cheap Monday, which affects around 80 employees, by the end of June sterling silver red rose cufflinks 2019, (The story corrects in 3rd paragraph to Asos and Zalando)..
BERLIN (Reuters) - The chief executive of Germany’s Lufthansa (LHAG.DE) said he expects the company to take part in more consolidation in the industry that will eventually leave three global carriers in Europe. “There are way too many players in Europe,” Carsten Spohr told a meeting of the Centre for Aviation in Berlin on Tuesday, noting that six airlines had gone bankrupt in the last few months. “It is obvious that consolidation will act further and we as Lufthansa want to be part of that,” he said.
Lufthansa has been a key player in hectic M&A activity in the industry, snapping up Brussels Airlines and parts of sterling silver red rose cufflinks insolvent Air Berlin last year to expand in the budget market, Spohr said there were three major global airlines in the Chinese, American and Middle East markets and he expected a similar shake-out in Europe, “There will most likely be three major European network carriers or groups of carriers, plus one or two low cost guys,” he said, “Our job in Lufthansa ., is to make sure the company is fit enough to play in this league of global champions league players in our industry.”..