A trendy Asian lifestyle chain opens in North Korea

Shop till you pop WHEN Miniso said in January that its stores would “bring the happiness of stress-free shopping to the Koreans”, you would be forgiven for thinking they were referring to emporium-loving Seoulites. In fact, the home-goods store, co-founded by a Chinese entrepreneur and a Japanese designer, was announcing that it would be taking… Continue reading A trendy Asian lifestyle chain opens in North Korea

General Motors is getting smaller but more profitable

THE headquarters of General Motors (GM) tower over the other skyscrapers in Detroit’s city centre, a reminder that the carmaker still rules the American market. Yet GM’s domestic might increasingly contrasts with its position elsewhere in the world. Although most other carmakers see becoming ever bigger everywhere as the answer to the industry’s multiple challenges,… Continue reading General Motors is getting smaller but more profitable

Klarna, a Swedish fintech unicorn, gets a full banking licence

BANKS moan incessantly about over- regulation. Yet their banking licences come with perks: in most places only licensed institutions can accept deposits and offer current accounts; within the EU, “passporting” means a bank licensed in one country may operate across the single market. So some European financial-technology (“fintech”) upstarts have started to seek banking licences.… Continue reading Klarna, a Swedish fintech unicorn, gets a full banking licence

The Federal Reserve risks truncating a recovery with room to run

WHEN it comes to inflation, the Federal Reserve sometimes resembles a child freshly emerged from an age-inappropriate horror film. To its members, runaway price increases seem to lurk in every oddly shaped shadow. On June 14th America’s central bank raised its benchmark interest rate for the third time in six months, even as inflation lingered… Continue reading The Federal Reserve risks truncating a recovery with room to run