Rolex was fined about $100 million by France’s antitrust agency for pursuing an illegal decade-long crackdown on distributors selling the Swiss firm’s luxury watches online.

Hennes & Mauritz AB’s revenue fell as consumers pulled back on spending at H&M clothing stores and after the chain closed stores in Russia.

Prices for second-hand luxury watches from brands including Rolex, Patek Philippe and Audemars Piguet tumbled as the US Federal Reserve raised interest rates to cool soaring inflation, the Bloomberg Subdial Watch Index shows.

The online reseller of luxury watches named Carsten Keller, an executive from online retailer Zalando, as its new chief executive officer.

The COP28 climate talks in Dubai ended in a deal that saw a commitment to transition away from all fossil fuels for the first time.

The company has been holding early talks about ways to separate Boots, which could be valued at about £7 billion ($8.8 billion) in a deal.

The deal marks a turning point for Breitling, which jumped into the top 10 Swiss watch companies by sales in 2022, as it becomes a watchmaking group.

JD.com Inc. founder Richard Liu urged staff to address deep-seated issues within his e-commerce company, in an internal memo that echoed a call to arms issued by Alibaba Group Holding Ltd. founder Jack Ma last month.