Visa and Mastercard have offered to cut merchants' charges for non-EU credit and debit cards by at least 40% to end an EU antitrust investigation, part of a long crackdown by the European Commission against such fees.
Tiffany & Co’s sales in the United States and Hong Kong took a hit in the latest quarter as Chinese tourists spent less than expected, sending the jewelry maker’s shares down nearly 8 percent on Wednesday.
Visa and Mastercard have offered to trim the fees merchants pay on card payments by tourists in the European Union in an attempt to stave off possible fines after a long-running antitrust investigation.
Golden Week seems to have been a golden opportunity for UK retail with new figures from Alibaba’s Alipay showing that the UK was the top shopping hotspot in Europe from October 1 to 7, up from second place last year.
The luxury end of the market is outperforming the UK fashion market and while sales to international shoppers have been in decline after the boost that they gained from the Brexit vote, that declined eased in August.
On September 22, House of Masaba by Masaba Gupta will host a pop-up shop at Yantra in Singapore which will debut her latest collection in the country and offer shoppers a chance to meet with the designer herself.