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.
finance
Financial Markets
SoftBank Proceeds From Alibaba Selldown Rise to $10 Billion
SoftBank Group Corp. has lifted the amount of money it will raise from selling down its stake in China’s Alibaba Group Holding Ltd. to $10 billion, after exercising an option to sell more shares through a trust.
SoftBank Proceeds From Alibaba Selldown Rise to $10 Billion
SoftBank Group Corp. has lifted the amount of money it will raise from selling down its stake in China’s Alibaba Group Holding Ltd. to $10 billion, after exercising an option to sell more shares through a trust.
Financial Markets
Alibaba Buys $2 Billion in Own Stock From Softbank
Alibaba agreed to buy $2 billion of its own stock from SoftBank Group Corp. at $74 a share, as part of SoftBank’s effort to monetise $8.9 billion of its stake in the Chinese e-commerce giant.
Alibaba Buys $2 Billion in Own Stock From Softbank
Alibaba agreed to buy $2 billion of its own stock from SoftBank Group Corp. at $74 a share, as part of SoftBank’s effort to monetise $8.9 billion of its stake in the Chinese e-commerce giant.
Financial Markets
Michael Kors Rises After Forecast Exceeds Analysts’ Projections
Michael Kors released early summer products — including some that aren't available at other retailers — to bring customers into its stores.
Michael Kors Rises After Forecast Exceeds Analysts’ Projections
Michael Kors released early summer products — including some that aren't available at other retailers — to bring customers into its stores.
Financial Markets
Vera Bradley Beats 1Q Profit Forecasts
Vera Bradley Inc. has reported fiscal first-quarter net income of $2.4 million, after reporting a loss in the same period a year earlier.
Vera Bradley Beats 1Q Profit Forecasts
Vera Bradley Inc. has reported fiscal first-quarter net income of $2.4 million, after reporting a loss in the same period a year earlier.
Financial Markets
G-III Apparel Beats 1Q Profit Forecasts
G-III Apparel Group Ltd. has reported fiscal first-quarter earnings of $2.8 million.
G-III Apparel Beats 1Q Profit Forecasts
G-III Apparel Group Ltd. has reported fiscal first-quarter earnings of $2.8 million.
Financial Markets
Top Alibaba Shareholder Softbank Plans to Sell $7.9 Billion in Stock
Japanese telecommunications and internet firm Softbank Group Corp has announced it will sell at least $7.9 billion of shares in Chinese e-commerce company Alibaba Group Holding Ltd in order to raise funds to reduce its debt.
Top Alibaba Shareholder Softbank Plans to Sell $7.9 Billion in Stock
Japanese telecommunications and internet firm Softbank Group Corp has announced it will sell at least $7.9 billion of shares in Chinese e-commerce company Alibaba Group Holding Ltd in order to raise funds to reduce its debt.
Financial Markets
PVH Jumps After Raising Full-Year Profit Forecast
PVH Corp., owner of the Calvin Klein and Tommy Hilfiger brands, jumped in late trading after raising its full-year profit forecast and reporting first-quarter earnings that beat analysts’ estimates.
PVH Jumps After Raising Full-Year Profit Forecast
PVH Corp., owner of the Calvin Klein and Tommy Hilfiger brands, jumped in late trading after raising its full-year profit forecast and reporting first-quarter earnings that beat analysts’ estimates.
Financial Markets
J. Crew’s Sales Fall as Chain Faces ‘Challenging’ Retail Climate
J. Crew Group Inc.’s same-store sales declined 7 percent last quarter, a sign the preppy-apparel chain is still struggling to win back shoppers.
J. Crew’s Sales Fall as Chain Faces ‘Challenging’ Retail Climate
J. Crew Group Inc.’s same-store sales declined 7 percent last quarter, a sign the preppy-apparel chain is still struggling to win back shoppers.
Financial Markets
Tiffany Reports 1Q Profit Drop on Soft Jewellery Market
Tiffany's first-quarter profit slid as consumers cut spending and the jeweller issued a pessimistic outlook, sending shares down sharply.
Tiffany Reports 1Q Profit Drop on Soft Jewellery Market
Tiffany's first-quarter profit slid as consumers cut spending and the jeweller issued a pessimistic outlook, sending shares down sharply.
Financial Markets
Alibaba Undergoing SEC Investigation Over Accounting Practices
Alibaba Group Holding Ltd. said it’s being investigated by the US Securities and Exchange Commission over its accounting practices and whether they violate federal laws.
Alibaba Undergoing SEC Investigation Over Accounting Practices
Alibaba Group Holding Ltd. said it’s being investigated by the US Securities and Exchange Commission over its accounting practices and whether they violate federal laws.
Financial Markets
Wal-Mart Surges After First-Quarter Profit Beats Estimates
The chain's US same-store sales rose faster than expected.
Wal-Mart Surges After First-Quarter Profit Beats Estimates
The chain's US same-store sales rose faster than expected.
Financial Markets
Burberry Lays Out Savings Plan as Annual Earnings Fall Again
Burberry Group Plc reported a second straight drop in annual earnings and announced plans to save £100 million ($144 million) a year as demand for the UK company’s luxury attire slows from New York to Nanjing.
Burberry Lays Out Savings Plan as Annual Earnings Fall Again
Burberry Group Plc reported a second straight drop in annual earnings and announced plans to save £100 million ($144 million) a year as demand for the UK company’s luxury attire slows from New York to Nanjing.
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.