Category: Business

Norway’s $1.2 trillion wealth fund has put Malaysian medical glove maker Supermax Corp (SUPM.KL) under observation for two years, citing allegations of unacceptable risk that the company contributes to serious violations of human rights. Supermax will have to show it is addressing changes the fund wants to see over the two year period, otherwise the […]

LVMH (LVMH.PA) chairman and CEO Bernard Arnault said on Thursday the French luxury goods giant was on a “very good track” regarding its performance for the first six months of the year. “I am optimistic, you will see the numbers,” Arnault told reporters during a tech event in Paris, referring to his group which owns […]

France’s anti-trust watchdog body said on Thursday that it had approved commitments made by Facebook owner Meta Platforms (META.O) regarding the French online advertising sector. Meta has committed to giving access over a five-year period to advertising inventories and campaign data to so-called advertising technology companies on transparent, objective and predictable conditions, the French regulator […]

Revlon Inc (REV.N) filed for Chapter 11 bankruptcy protection late on Wednesday as the debt-laden cosmetics company struggled to take on rising competition from celebrity-backed startups in recent years. Revlon, which was founded in 1932 as a nail paint maker, is controlled by billionaire Ron Perelman’s MacAndrews & Forbes and counts celebrities Gal Gadot and […]

British low-cost carrier EasyJet (EZJ.L) on Thursday won EU antitrust approval to acquire 18 daily slots at Lisbon airport from Portuguese airline TAP as part of the latter’s rescue plan agreed with EU regulators last year. “EasyJet has now priority to conclude with TAP Air Portugal the agreement for the slot transfer that will allow […]

Japan’s government bond market is being pushed to breaking point in a contest between foreign speculators and the Bank of Japan, creating challenges for loan pricing and bond sales and raising the prospect of government financing tangles down the track. Extreme stress was evident on Wednesday, when the Bank of Japan (BOJ) spent more than […]

Russia, supported by Belarus, Central African Republic, Kyrgyzstan and Mali, has torpedoed a Western-backed proposal to discuss whether its diamonds are funding war ahead of an international conflict diamond meeting in Botswana. The rift in the Kimberley Process (KP), which certifies rough diamond exports, risks paralyzing the body which makes decisions by consensus. The letters, […]