Signs that even the world's richest consumers are falling prey to recessionary fears gathered pace as two big luxury goods makers said demand from Japan and the US for Cartier watches, designer handbags and fine jewellery was slowing.
In an interview with the Financial Times last week, Jos Luis Duran, Carrefour's chief executive, said he was poised to sign a retail joint venture in India.
Tesco has admitted that its plan to be the first multinational supermarket retailer in India has unravelled.
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