Kering is selling its beauty division, including the prestigious perfume brand Creed, to L’Oreal for $4.6 billion. This strategic move aims to significantly reduce Kering’s substantial debt. The deal also includes 50-year exclusive licenses for L’Oreal to produce beauty products for Kering’s major fashion houses.

China’s economy experienced its weakest pace in a year, growing less than 5% due to sluggish domestic demand and US trade tensions. While exports and industrial production showed strength, a significant drop in fixed-asset and property investment, alongside weak retail sales, weighed down overall growth.

Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, soared in opening trade on Diwali day. While Nifty50 went above 25,900, BSE Sensex was up over 600 points.

Asian markets rallied, led by Japan, as investors anticipate a new prime minister. Hopes for de-escalated US-China trade tensions, following weekend talks, also boosted sentiment. China’s economy showed stronger-than-expected third-quarter growth, while upcoming US inflation data is expected to have minimal impact on interest rate cut plans. Gold held firm, while oil prices saw a

Gold price prediction in Diwali week: Gold prices are expected to remain stable during Diwali week. Recent all-time highs for gold and silver saw a dip. Trade tensions between the US and China, along with global economic uncertainties, influenced safe-haven buying.

The US federal government shutdown is nearing a historic length with no resolution in sight. Millions of federal workers face unpaid days and potential job cuts, while the economy suffers significant losses, particularly in tourism and air travel. Both parties remain entrenched, with Democrats prioritizing healthcare and Republicans pushing for broader budget cuts.

Despite record high prices, Dhanteras gold and silver sales matched last year’s volumes and rose over 25% in value. Shoppers favored coins and lightweight jewelry, viewing them as smart investments amid rising prices. Demand surged as consumers saw no sign of a price correction, leading to strong sales across the country.