Business

All eyes on Luxottica, Essilor merger

With a "strong brand portfolio, global distribution capabilities and complementary expertise in ophthalmic lenses, prescription frames and sunglasses", UBS estimated that EssilorLuxottica is set to become market leader. Del Vecchio, a child orphan who spent some of his childhood in a poorhouse, is Italy's richest man, worth more than €20 billion. Long-standing chief executive officer Andrea Guerra quit in 2014 following a rift with Del Vecchio.

Business

International Monetary Fund slightly raises 2017 global growth forecasts

Mr. Trump's vow to cut personal and corporate income taxes and promises to increase infrastructure spending raised inflation forecasts, bond yields, rate-increase expectations and strengthened the dollar. The IMF said that growth prospects in Latin America were being hurt by rising uncertainty about the outlook in Mexico, given Trump's statements overhauling trade relations between the United States and Mexico.

Business

Top 1% of NZers own 20% of wealth

Oxfam is calling on governments to ensure workers are paid a living wage and to close the gap between what men are paid and what women earn. The opening ceremony is set for January 17. Even the poorest people in the world have become a target for this misdirection, as the foreign aid budget is targeted by tabloids as a ptential way of making up the shortfall in the NHS and social care budget.

Business

Retail sales up 0.6% in December

There were $469.1 billion in retail and food service sales in December, up 0.6% from the previous month and 4.1% from December 2015, according to the U.S. With interest rates rising, however, many industry experts forecast that sales will plateau and possibly slip this year. Meanwhile, furniture and home stores experienced a 0.5% rise and sporting goods stores suffered a 0.2% increase.

Business

Renault Reportedly Probed Over Diesel Emissions

In a statement, Renault denied using any so-called defeat devices to cheat on emissions tests and said it complies with all French and European regulations. Renault , led by CEO Carlos Ghosn, fell just over 3% in Friday trading to €83.58 ($89.03) as investors pondered the possibility that the investigation could lead to a trial and possible fines.

Business

USA to build wall with Mexico to stop illegal migrants

In fact, the United States already allows a significant amount of legal immigration from Mexico under the "guest-worker" program -1.6 million entries by legal immigrants and 3.9 million by temporary workers from Mexico over the last 10 years - because farmers can't find enough native-born Americans to pick crops.