Novo Nordisk Warns of Profit Decline as Wegovy Faces U.S. Price Pressure and Rising Competition 
Oil Prices Slip as U.S.–Iran Talks Ease Supply Disruption Fears 
Tesla Launches New Model Y Variant in the US Starting at $41,990 
Elon Musk’s SpaceX Acquires xAI in Historic Deal Uniting Space and Artificial Intelligence 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Denso Cuts Profit Forecast Amid U.S. Tariffs and Rising Costs 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Taiwan Urges Stronger Trade Ties With Fellow Democracies, Rejects Economic Dependence on China 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Asian Markets Slip as AI Spending Fears Shake Tech, Wall Street Futures Rebound 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Sam Altman Reaffirms OpenAI’s Long-Term Commitment to NVIDIA Amid Chip Report 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
China and Uruguay Strengthen Strategic Partnership Amid Shifting Global Order 
Qantas to Sell Jetstar Japan Stake as It Refocuses on Core Australian Operations 
H&M Group confirmed its plans to reopen most of its retail stores in Ukraine by November 2023 after a temporary closure due to the 2022 Russian invasion. The fashion retailer aims to play a role in local rebuilding efforts.
The Swedish fashion retailer shut down its locations in February 2022 after Russia started attacking Ukraine with the intent of invasion. H&M said that the closure was only temporary due to the raging war.
According to Reuters, the H&M company had at least eight stores in the region as of November 2021. The company closed all these branches since the war broke out over a year ago.
The plan is to reopen all the H&M stores by the end of this year. The firm said it is already preparing to start selling again in its physical shops.
H&M also revealed it is planning to tap local organizations for partnership as it also wants to be involved in humanitarian programs so it can extend assistance in a way it can. At any rate, The Kyiv Independent reported that the H&M Group previously said it would withdraw its business in Russia, and it will be a complete pull-out. This decision ended the company’s sales in the Vladimir Putin-led country after 13 years.
“As previously communicated, H&M Group temporarily closed its stores in Ukraine as of 24 February 2022. The company has been in close dialogue with partners and authorities and is now planning to gradually reopen most of its stores in the country from November 2023,” H&M Group said in a statement.
The company further stated, “H&M Group is in contact with local stakeholders in terms of how to best support the country and local communities as they look to rebuild. In addition to previous donations supporting the people in Ukraine, the group will partner with organizations on the ground and engage in relief and rebuilding programs.”
Photo by: Afif Ramdhasuma/Unsplash
