Tag: Europe

International Business and TradePolicy

Europe Implements Tax Measures to Combat Fast Fashion Industry Impact

The European Union and member states are rolling out targeted tax policies aimed at slowing fast fashion’s environmental impact. Measures include eliminating VAT exemptions, implementing per-garment taxes, and incentivizing clothing repair over replacement to transform textile consumption patterns.

Europe’s Tax Strategy Against Fast Fashion Intensifies

European governments are implementing a coordinated tax strategy to address the environmental and economic impacts of fast fashion, according to reports from policy analysts. The measures target what sources indicate is an industry that generates approximately 12 kg of textile waste annually per European resident, with only 1% being recycled into new garments.

by Bennett Laura
BusinessEconomy and Trading

Luxury Stocks Rally as LVMH Earnings Exceed Forecasts, Fueling Industry Optimism

LVMH shares surged 12% Wednesday after the luxury conglomerate reported better-than-expected third-quarter earnings. The rally added approximately $18.18 billion to the company’s market value and boosted other luxury stocks across the sector.

LVMH Earnings Spark Luxury Market Rally

Luxury goods stocks experienced a significant boost Wednesday as LVMH reported stronger-than-expected third-quarter earnings, according to financial reports. The French conglomerate’s shares rallied 12% during trading, adding approximately $18.18 billion to its market valuation and fueling gains across the luxury sector.

by Ortega Rafael
BusinessEnergy

Orsted Announces Major Workforce Reduction of 2,000 Jobs in Strategic Restructuring

Danish renewable energy giant Orsted is eliminating 2,000 positions, representing a quarter of its global workforce. The cuts are part of a strategic shift toward European offshore wind markets and select Asia-Pacific regions. The company expects to realize approximately $311.5 million in annual cost savings by 2028.

Orsted, the Danish renewable-energy leader, will slash approximately 2,000 jobs over the coming years as part of a major strategic restructuring. The workforce reduction represents about a quarter of the company’s global employees and comes alongside plans to scale back its international footprint to concentrate on core markets. This dramatic cost-cutting initiative aims to save around $311.5 million annually by 2028, when efficiency measures become fully implemented.

Strategic Shift Toward Core Renewable Energy Markets

by Bennett Laura