De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
Shenzhen, China
Financial Markets
Topsports to Seek Approval Next Week for $1 Billion IPO
The sportswear retailer is planning to make its Hong Kong stock market debut, seeking to raise around $1 billion.
Topsports to Seek Approval Next Week for $1 Billion IPO
The sportswear retailer is planning to make its Hong Kong stock market debut, seeking to raise around $1 billion.
China
Tencent's $65B Wipeout Bodes Ill for Hong Kong Stocks
The Chinese tech heavyweight has plunged 14 percent since last month’s high.
Tencent's $65B Wipeout Bodes Ill for Hong Kong Stocks
The Chinese tech heavyweight has plunged 14 percent since last month’s high.
China
Tencent First-Quarter Profit Beats Estimates
Profit rose to 27 billion yuan ($3.93 billion), compared with the average estimate of 19.4 billion yuan from 13 analysts.
Tencent First-Quarter Profit Beats Estimates
Profit rose to 27 billion yuan ($3.93 billion), compared with the average estimate of 19.4 billion yuan from 13 analysts.
Technology
Tencent Profit Beats Estimates
The company almost doubled net income to a record $3.3 billion driven by its vast social networks WeChat and QQ.
Tencent Profit Beats Estimates
The company almost doubled net income to a record $3.3 billion driven by its vast social networks WeChat and QQ.
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China
Shenzhen Ellassay Fashion Acquires Vivienne Tam’s Brand Rights in China
The Chinese fashion and apparel company, which acquired French brand Iro in March, is aiming to become a high-end fashion group.
Shenzhen Ellassay Fashion Acquires Vivienne Tam’s Brand Rights in China
The Chinese fashion and apparel company, which acquired French brand Iro in March, is aiming to become a high-end fashion group.
China
Alibaba Singles' Day Sales Pass 2015, But Growth Slows
Alibaba Group Holding Ltd's Singles' Day sales surged past last year's 91.2 billion yuan ($13.85 billion) total with nearly nine hours left on the clock.
Alibaba Singles' Day Sales Pass 2015, But Growth Slows
Alibaba Group Holding Ltd's Singles' Day sales surged past last year's 91.2 billion yuan ($13.85 billion) total with nearly nine hours left on the clock.
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The News in Brief
L’Oréal India in Talks to Acquire Beauty Company Innovist
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent Innovist sources told The Economic Times India.
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.
Glossier Appoints New CMO
Nicole Solorzano, who joins from Ouai, is the Millennial beauty brand’s latest hire.
Macy’s CEO Points to E-Shaped Economy, Signalling Consumer Shift
The mention of a forked economy by the head of America’s largest department store signals a heightened wariness that middle-income Americans will continue to spend at the same pace.
France’s Bid to Suspend Shein’s Marketplace Rejected by Appeals Court
The decision from Paris’ Court of Appeal marked a win for the fast-fashion giant after a scandal over sex dolls resembling children for sale on its site.
Coty Announces Board Revamp
The embattled Covergirl owner has appointed five new independent directors amidst a wider leadership and company shakeup.
Zimmermann Names Roberto Eggs CEO
The Moncler Group executive will succeed longtime CEO Chris Olliver, who is staying on as executive chairman.