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A ring pictured inside a Tiffany & Co. showroom. Photo: Nicky J Sims/Getty Images for Tiffany & Co.

American jeweler Tiffany & Co. will begin selling on Chinese e-commerce giant Alibaba's "Luxury Pavilion" platform on its Tmall app.

The big picture: Enticing foreign brands is part of Alibaba's broader strategy to become the "gateway to China" for companies, many of which have had limited success in China's massive market when trying to go it alone. Already this month, Alibaba has announced deals with Starbucks and Kroger.

What to watch:

  • Amazon hasn't yet been able to crack the market for luxury goods, and experts say it is unlikely to have success with high-end products anytime soon, as it's difficult to recreate the in-store experience of buying luxury online.
  • But Chinese consumers of luxury goods are typically younger than their American counterparts and accustomed to shopping online for everything. Tiffany joins Burberry, Hugo Boss, La Mer, Maserati and other high-end designers already on Alibaba's "Luxury Pavilion."

Go deeper

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46 mins ago - Economy & Business

What's really going on with the labor market

Source: YCharts

The labor market is showing some signs of improvement: Jobless claims fell to 730,000 — a dramatic drop from 841,000 the previous week. And the latest jobs report showed a pandemic-era low unemployment rate of 6.3%

But, but, but: That's not the full story, experts say.

Felix Salmon, author of Capital
55 mins ago - Economy & Business

Markets see rare convergence milestone

Expand chart
Data: YCharts; Chart: Axios Visuals

A milestone was reached in the markets Thursday: The yield on the 10-year Treasury note rose to match the dividend yield on the S&P 500

Why it matters: The two yields have been inverted since the beginning of last year, which is historically unusual.

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2 hours ago - Economy & Business

First look: Business puts muscle behind Biden

Business Roundtable, the voice of America's top CEOs, today launched "Move the Needle," a campaign to support President Biden in rolling out COVID vaccines, increasing vaccine uptake and encouraging masks.

What they're saying: "Masks and vaccines are working. Now is the time to keep at it, overcome pandemic fatigue, and double down on the measures that will end this public health and economic crisis, said Business Roundtable president and CEO Josh Bolten.