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Tencent-backed fintech Airwallex to invest in the Netherlands

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January 5, 2026

Australian payment firm Airwallex said on Monday it will invest around 200 million euros ($233.64 million) over the next five years in its Netherlands operations, marking a major European expansion as it shifts from its Asia-Pacific base.

An Airwallex logo is pictured at the Money 20/20 Asia Fintech Trade Show in Singapore March 21, 2019. Picture taken March 21, 2019 – REUTERS/Anshuman Daga/File Photo

The Melbourne-founded fintech plans to ⁠increase its Amsterdam headcount by 60% to around 70 full-time employees by the end ⁠of 2026. Airwallex operates a global payments platform that enables businesses to send and receive international payments, hold multi-currency accounts, and ‍process online ‌transactions.

Founded in 2015, Airwallex secured a $13 million Series ⁠A round led by ‌Chinese internet giant Tencent in 2017. The ‌company recently raised $330 million in a Series G round, bringing its valuation to over $6 billion, and surpassed $1 billion in annual recurring revenue.

The investment comes as Airwallex ‍says it will prioritise growth in Europe and the Americas after a decade focused on Australia and ‌Asia-Pacific markets. ⁠The ​company received a licence in the ⁠Netherlands ​in May 2021, giving it access to the European Economic Area.

Airwallex served more than 150,000 customers as of ​October 2025, including Shein, Bolt, TikTok and Canva. The company now competes with established ⁠European payment processors including ⁠Netherlands-based Adyen and Mollie, as well as Dutch digital bank Bunq.

© Thomson Reuters 2026 All rights reserved.



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Elizabeth Scarlett in Valentine’s Day collab with Dalloway Terrace

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January 9, 2026

Thirty-seven days and counting: Elizabeth Scarlett, lifestyle and accessories brand has Valentine’s Day firmly in its sights, announcing a creative partnership with Dalloway Terrace, London’s dining destination at The Bloomsbury.

Elizabeth Scarlett

Bringing together two British brands “united by a shared love of beauty and storytelling”, the collaboration will see Dalloway Terrace transformed into an immersive space “celebrating love, nature and artistry”. It’s a trend we’re seeing more and more often with brands linking up with complementary destinations in a way that benefits both partners.

Inspired by Elizabeth Scarlett’s signature wildflower motifs – the terrace will feature a specially commissioned floral installation, “drawing guests into the brand’s romantic, nature-led world”.

At the heart of the partnership is a limited-edition Afternoon Tea, specially created to celebrate the partnership with a special menu (pastries and sweets inspired by the brand’s signature storytelling).

To mark the event, every guest who books a space on the day will receive a complimentary limited-edition Elizabeth Scarlett love heart stripe pouch (RRP £38), created for the collaboration. Some of the proceeds will also be donated to wildlife conservation.

Elizabeth Petrides, founder of Elizabeth Scarlett said: “We wanted to create a moment where guests can slow down, look closer, and feel immersed in the natural world – even in the heart of the city. From the wildflowers that surround you to the wildlife artwork at the core of our brand, it honours the magic that happens when artistry and nature meet.”

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LVMH Champagne union calls for further strikes

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January 9, 2026

The CGT labour union at LVMH‘s champagne units called for new strike action next Thursday, as it seeks to pressure management to compensate workers for lost bonuses.

The LVMH business includes fashion and refreshments – DR

CGT labour representatives from the Moet&Chandon and ⁠Veuve Clicquot champagne houses said in a video addressed to workers on Friday that they ⁠should drop their tasks for “at least three hours.” The union launched protests last month against a cut in annual bonuses and other ‍benefits ‌at the world’s largest luxury group, even as it keeps
The ⁠group hasn’t yet ‌publicly commented on the labour dispute. LVMH’s ‌Moet Hennessy alcohol division had no immediate comment when contacted by Reuters on Friday.

Management at the unit had offered to pay a one-off 1,000 euros ($1,162.20) payment ‍to workers after it said it would not pay usual annual bonuses amid a decline in sales, ‌said ⁠the ​CGT, an offer “not at the height of our ⁠expectations.”

“It ​is really important to continue to put pressure on the company,” a CGT official said in the ​video message, adding that further talks are planned for Wednesday. So far, no strike action ⁠has been announced at ⁠LVMH’s other drinks businesses, including the Hennessy cognac brand.
 

© Thomson Reuters 2026 All rights reserved.



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Saks Global seeks to file for bankruptcy as soon as Sunday, Bloomberg News reports

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Reuters

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January 9, 2026

Luxury retailer Saks Global is planning to file for Chapter 11 bankruptcy as soon as Sunday, Bloomberg News ⁠reported on Friday, citing people familiar with the matter.

Shoppers walk outside the Saks Fifth Avenue flagship store in Manhattan in New York City, U.S., January 6, 2026 – REUTERS/Angelina Katsanis

The ⁠owner of New York’s century-old Fifth Avenue flagship store is preparing ‍to ‌file for bankruptcy without a restructuring ⁠deal in ‌place, though it aims ‌to craft one in the coming weeks, according to the report.

The company is also in ‍advanced discussions on about $1.25 billion debtor-in-possession financing package with creditors, which ‌would ⁠allow ​it to keep its ⁠business ​running during bankruptcy and pay vendor dues, the report added.

Saks ​Global did not immediately respond to a Reuters ⁠request for comment.

© Thomson Reuters 2026 All rights reserved.



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