API owns the Avon beauty brand in Europe and Latin America and is a subsidiary of the Brazilian company Natura. The North American operations are run by the South Korean company LG Household & Health Care, which isn’t involved in the current bankruptcy proceedings. API is said to have over $1bn in debt and has…
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Revenue rose by 30%, despite like-for-like sales showing a more modest 3% rise. The company put the revenue boost down to good cost management and growth in its real estate portfolio. 2023 saw 18 new Burger King restaurants open in the UK, with 10 more being refitted last year. Burger King’s UK operating profit rose…
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The Commodity Futures Trading Commission (CFTC) decided the compensation figure, making it the most significant recovery of this nature in its history. The Commission said it would look to get funds back to everyone affected by this massive fraudulent scheme. FTX went bust in 2022 during a price crash that saw the crypto market plunge…
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Revenues in the first six months of the year rose by 2% – excluding fuel – but like-for-like sales were down by 2.1%. Revenue in Q2 fell by 2.2%, with a 5.3% like-for-like drop revealing the size of the problem with falling sales. Asda is owned by TDR Capital and Mohsin Issa. They plan to…
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Pre-tax profit climbed to $3.1bn for Q3, following the $134m loss posted last year. This quarter was the first time the Disney streaming business has returned a profit, with the successful Inside Out 2 movie contributing to a strong quarter. A big jump in operating income for the company’s entertainment division saw it reach $1.2bn,…
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The details were revealed on Tuesday, as the South Africa-born billionaire declared in a social media post that X was going to war after two years of trying for peace. He claims the Global Alliance for Responsible Media (Garm) has conspired against X with members like Mars and Unilever. Don’t miss out the latest news,…
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Judge Amit Mehta produced a 286-page ruling that gave the US government its first significant antitrust win against the tech industry in close to two decades. Key to the decision was the ruling that Google has paid $26bn to ensure that its search engine was placed on smartphones and web browsers as the default option.…
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The case came to light when the 81-year-old decided to sell his six million RMS shares. Being the largest shareholder in the luxury fashion business, selling them would allow him to bequeath half his multi-billion-euro fortune to his former gardener. However, when Puech tried to do this, he discovered what he described as a “gigantic fraud.”…
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He was in charge of Glencore’s oil business for many years, working from London until 2019. The Serious Fraud Office (SFO) has now said that Beard is being charged in connection with allegedly corrupt payments that were made with the aim of benefiting the company’s West African oil operations. The others charged under the same…
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The transportation and ride-sharing company has revealed a strategic partnership with BYD. As part of this deal, their drivers will be able to get hold of its partner’s cars at preferential rates and with the help of improved financing offers. One hundred thousand BYD vehicles are to be offered to drivers in this way. The…
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