Hold on to your handbags, on signs the luxury market is losing steam
Plus: China buys half of Iran’s oil (but escapes US sanctions for now); Yurun kingpin steps down from pig-and-property empire; and stumbling BYD struggles with bad publicity over exploding electric car
Also: homegrown blockbuster humbles Hollywood; CCTV gives Michelangelo statue a modesty makeover; and the Qingdao experiment that ended in huge paper losses
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