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Top StoriesLacklustre earnings, fed nerves weigh on European shares
Russian retailers in talks to import goods via kazakhstan -report
Date: May 3, 2022
ALMATY (Reuters) – Russian retailers Magnit and Lenta are in talks with their suppliers and other parties about importing goods via Kazakhstan, Russia’s southern neighbour and close partner, a Kazakh official was quoted as saying on Tuesday. Rouble volatility and supply chain disruptions have hit the Russian market since President Vladimir Putin sent troops into...
VAT 2022: What e-commerce retailers need to know
Date: April 28, 2022
By Anna Higgins, Strategy Program Director, Sovos Back in July 2021, the EU introduced new legislation designed to transform VAT compliance in the e-commerce space. In addition to enabling Member States to increase the amount of VAT collected on imported goods, the changes were designed to ease the administrative burden on businesses trading with and...
High demand pushes puma’s Q1 results above expectations
Date: April 27, 2022
By Zuzanna Szymanska FRANKFURT (Reuters) -German sportswear maker Puma reported stronger-than-expected first-quarter results on Wednesday as high demand from both retailers and consumers more than offset the impact of the war in Ukraine and supply chain bottlenecks. “We see that sports participation has grown again during COVID and also after COVID,” Chief Executive Bjorn Gulden...
Swiss watchmakers grapple with fallout of Russian crisis
Date: March 31, 2022
By Silke Koltrowitz GENEVA (Reuters) – Swiss watchmakers are gathering in Geneva this week for their first big industry event in three years, tackling the impact of sanctions on rich Russians arising from the war in Ukraine. Russia was only the 17th largest market for Swiss watch exports last year, but how to manage business...
Half of retailers still aren’t prepared for SCA. how can biometric payment cards help them adapt?
Date: March 22, 2022
By Vince Graziani, CEO, IDEX Biometrics Strong Customer Authentication (SCA) has created the biggest shift in retail payments since contactless technology, having finally been enacted in full across Europe as of March 14. Introduced as part of the Second Payment Services Directive (PSD2), SCA is a staple requirement for all retailers and payment service providers,...
Japan’s fast retailing to suspend Russia operations in u-turn
Date: March 10, 2022
TOKYO (Reuters) – Uniqlo owner Fast Retailing Co is suspending its Russian operations temporarily, it said on Thursday, reversing its previous position and adding that it condemned acts of aggression. While numerous brands announced their exits from Russia over its invasion of Ukraine, Fast Retailing’s founder had told Japanese media that the company would continue...