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From its original epicentre in the north, including the capital Beijing, COVID-19 infections are spreading throughout the country and cases are impeding workforces in manufacturing belts, including the Yangtze River Delta, near Shanghai. With mass testing halted after China abruptly dropped its zero-COVID policy this month, official data no longer reliably captures new case numbers. Some estimates, however, predict the wave currently sweeping the country could infect up to 60% of China's 1.4 billion-strong population. LOGISTICS LOGJAMLeading automobile chipmaker, Renesas Electronics Corp (6723.T) suspended production at its Beijing plant last Friday due to COVID-19 infections, but said it would re-open Tuesday. For now, however, that impact is being limited in part by economic hardships elsewhere in the world denting demand for products from China.

☆ Gucci designer’s exit boosts Kering’s M&A urgency
▼ + stars: | 2022-11-24 | by ( Lisa Jucca | ) www.reuters.com time to read: +3 min

MILAN, Nov 24 (Reuters Breakingviews) - The abrupt departure of star Gucci designer Alessandro Michele on Wednesday is putting French luxury boss François-Henri Pinault on the spot. The Italian brand, Kering’s (PRTP.PA) largest, has been a money-spinner for the 68 billion euro French conglomerate. Gucci revenue nearly trebled to 9.6 billion euros between 2014 and 2019. Reuters GraphicsFollow @LJucca on TwitterCONTEXT NEWSKering’s top brand Gucci said on Nov. 23 Creative Director Alessandro Michele had stepped down. Under Michele’s creative leadership, Gucci sales grew nearly three times from 2014 to 9.6 billion euros in 2019, one of the best performing brands in the luxury world.

☆ India's Tata to open 20 'beauty tech' outlets, in talks with foreign brands
▼ + stars: | 2022-11-16 | by ( Aditya Kalra | ) www.reuters.com time to read: +7 min

Tata is in talks with more than two dozen companies to supply exclusive products to the new stores, according to the person familiar with the strategy, who did not name specific brands. Tata declined to comment on its planned beauty stores and the contents of the document seen by Reuters. The store opening plans, still under wraps, follow the recent launch of Tata's beauty shopping app, called Tata CLiQ Palette. The stores will have a bright red facade showing Tata CLiQ Palette branding, with 70% of the products inside being skincare and make up, according to the Tata document. The new stores should drive "sales across channels as a leading Beauty Tech destination for Gen Z & Millennials," the Tata document says.

☆ Estee Lauder to buy fashion label Tom Ford in $2.8 billion deal
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +2 min

Nov 15 (Reuters) - Estee Lauder Cos Inc (EL.N) said on Tuesday it agreed to buy U.S. fashion label Tom Ford for $2.8 billion, its biggest deal yet, adding a line of beauty products and apparel to the Clinique brand owner's portfolio. While Estee Lauder already sells Tom Ford beauty products and fragrances, the deal has raised some eyebrows on Wall Street. (https://reut.rs/3tqhWrK)As of Tuesday's close, Estee's stock fell 17% since the deal talks with Tom Ford were reported by the media in August. Tom Ford had entered into exclusive negotiations with Estee Lauder last week, beating competing bids from companies including Gucci owner Kering SA (PRTP.PA), the Financial Times reported on Friday. Chief Executive Officer Tom Ford will continue to serve as the brand's creative visionary.

☆ Estee Lauder to buy Tom Ford in $2.8 billion deal
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: 1 min

Nov 15 (Reuters) - Estee Lauder Cos Inc (EL.N) said on Tuesday it clinched a deal to buy U.S. fashion label Tom Ford for $2.8 billion in what would be its biggest acquisition. Shares of Estee Lauder, which already licenses Tom Ford fragrances and cosmetics, fell marginally in extended trading. Tom Ford entered into exclusive negotiations with Estee Lauder last week, beating competing bids from a number of other companies including Gucci owner Kering SA (PRTP.PA), the Financial Times reported on Friday. Reporting by Manya Saini and Granth Vanaik in Bengaluru; Editing by Shailesh Kuber and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Alibaba mum on Singles Day sales tally, says in line with 2021
▼ + stars: | 2022-11-12 | by ( Casey Hall | ) www.reuters.com time to read: +4 min

Singles Day growth this year had been widely predicted at flat to low single digits. Alibaba did not respond to requests for comment on its decision to avoid releasing figures on the 11-day sales event ended that ended on Friday. [1/4] A delivery worker sorts parcels at a makeshift logistics station ahead of Alibaba's Singles' Day shopping festival, following the coronavirus disease (COVID-19) outbreak in Shanghai, China, November 10, 2022. REUTERS/Aly Song 1 2 3 4Consultancy Syntun on Saturday estimated Alibaba and other Chinese e-commerce firms holding Singles Day shopping events together logged 934 billion yuan in sales, up 2.9%. The company's Tmall marketplace offered Singles Day deals on more than 17 million products, 3 million more than last year, with a record-matching 290,000 brands participating.

[1/4] A delivery worker sorts parcels at a makeshift logistics station ahead of Alibaba's Singles' Day shopping festival, following the coronavirus disease (COVID-19) outbreak in Shanghai, China, November 10, 2022. REUTERS/Aly SongSHANGHAI, Nov 11 (Reuters) - Alibaba Group Holding (9988.HK) and other Chinese e-commerce firms holding Singles Day shopping events together logged a 4.7% decline in sales for the first 12 hours of the final day, a research firm said. Citi analysts said this week they were conservatively forecasting Alibaba's GMV for the event to range between 545 billion yuan and 560 billion yuan ($75 billion-$77 billion), growth of 0.9% to 3.6%. Yang Zengdong, 40, a teacher in Shanghai, said she had second thoughts about participating in Singles Day at all this year, but when the final sales period started on Thursday evening, she ended up purchasing about the same amount as last year. "I think it's something deep in the mind of Chinese people that if you don't buy on Singles Day, you are missing out on an opportunity," she said.

☆ Estee Lauder nears $2.8 billion deal to buy Tom Ford - FT
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +1 min

The luxury brand, founded by fashion designer Tom Ford, entered into exclusive negotiations with Estee Lauder this week and a deal could be announced as early as Monday, the FT reported. Estee Lauder and Tom Ford did not immediately respond to Reuters requests for comment. Earlier in August, the Wall Street Journal reported that Estee was in talks to acquire the luxury brand in what could be a $3 billion deal. The Journal later reported that French luxury group Kering(PRTP.PA) was also in advanced discussions to buy the fashion brand, competing with Estee. Tom Ford is known for its menswear, but also counts women's apparel, handbags, cosmetics and perfumes as part of its product line.

"We will definitely work all out to adjust our production capacity and output, so there is no impact on demand for these two holidays," Liu said. On Wednesday, Foxconn said it would continue production in Zhengzhou under a "closed loop" system, where staff live and work on-site in a bubble isolated from the wider world. "Of course there may be other factors that require the reconfiguration of production capacity, such as geopolitics," Liu said. Having said on Monday it would "revise down" its fourth quarter outlook given the situation in Zhengzhou, Foxconn said revenue in the final three months of this year would be flattish. read moreReuters last month reported that Foxconn's production of Apple's iPhones at the Zhengzhou factory could slump by as much as 30% in November due to tight COVID-19 restrictions.

☆ Coty quarterly results beat estimates as beauty demand sits pretty
▼ + stars: | 2022-11-08 | by ( Ananya Mariam Rajesh | ) www.reuters.com time to read: +2 min

Shares in the company rose about 4% in premarket trading, after having fallen 34% this year. In fact, consumers are trading up from lower-priced consumer beauty labels to its prestige division, she said. The beauty category is "more resilient than ever", Nabi said, after Coty reiterated its annual profit forecast. Excluding items, the company earned 15 cents per share, surpassing estimates of 11 cents, according to IBES data from Refinitiv. Its net revenue rose 1% to $1.39 billion in the first quarter ended Sept. 30, compared with estimates of $1.37 billion.

[1/5] A man holds an iPhone 14 as Apple Inc's new models go on sale at an Apple store in Beijing, China, September 16, 2022. "We continue to see strong demand for iPhone 14 Pro and iPhone 14 Pro Max models. However, we now expect lower iPhone 14 Pro and iPhone 14 Pro Max shipments than we previously anticipated," it said in a statement. Apple, which began selling its iPhone 14 range in September, said customers should expect longer waiting times. It has iPhone production sites in India and southern China, but its biggest is in the city of Zhengzhou in the eastern Chinese province of Henan.

[1/5] People look at Apple products as Apple Inc's new iPhone 14 models go on sale in Beijing, China, September 16, 2022. "We continue to see strong demand for iPhone 14 Pro and iPhone 14 Pro Max models. However, we now expect lower iPhone 14 Pro and iPhone 14 Pro Max shipments than we previously anticipated," it said. Its main Zhengzhou plant in central China, which employs about 200,000 people, has been rocked by discontent over stringent measures to curb the spread of COVID-19, with many workers fleeing the site. Foxconn, formally Hon Hai Precision Industry Co Ltd, is Apple's biggest iPhone maker, accounting for 70% of iPhone shipments globally.

☆ Kering shares up on report company seeks to buy Tom Ford
▼ + stars: | 2022-11-04 | by ( Mimosa Spencer | ) www.reuters.com time to read: +3 min

PARIS, Nov 4 (Reuters) - Shares in Gucci-owner Kering (PRTP.PA) rose in early Friday trading following a report the French luxury goods company is in advanced talks to buy U.S.-based fashion label Tom Ford. Shares were up 2.4% in morning trade, after the Wall Street Journal on Thursday reported the company was the front runner for a deal, with rivals including Estee Lauder (EL.N). "The logic is compelling," said Piral Dadhania of RBC, of such a deal, citing Tom Ford's past as creative director of Kering labels Gucci and Yves Saint Laurent in the nineties and into the early 2000s, as well as the label's high positioning. Kering, which has been bulking up its eyewear division, recently purchasing U.S. label Maui Jim, has also signalled interest in expanding into beauty. With few financial details available on Tom Ford's label, some analysts were cautious.

☆ Tom Ford return offers remedy for Gucci fatigue
▼ + stars: | 2022-11-04 | by ( Lisa Jucca | ) www.reuters.com time to read: +3 min

MILAN, Nov 4 (Reuters Breakingviews) - Tom Ford’s return to the realm of Gucci owner Kering (PRTP.PA) would add some much-needed sparkle. Bringing Tom Ford himself on board could even help revitalise it. Tom Ford offers diversification at a reasonable valuation. Sales of Tom Ford Beauty’s cosmetics and fragrances grew at a double digit rate in the third quarter, according to Vogue Business. In August, the Wall Street Journal reported that beauty giant Estée Lauder was looking to buy Tom Ford for $3 billion.

☆ Canada Goose cuts revenue, profit forecast as China business takes hit
▼ + stars: | 2022-11-02 | by ( Granth Vanaik | ) www.reuters.com time to read: +2 min

Nov 2 (Reuters) - Luxury parka maker Canada Goose Holdings Inc (GOOS.TO), cut its full-year revenue and profit forecast on Wednesday, with persistent COVID-related lockdowns and store closures in China hurting its business. The company did not disclose how much revenue it specifically earns from China, but said 20.3% of the revenue in the second quarter came from the Asia-Pacific region. Canada Goose cut its fiscal 2023 sales expectation to C$1.2 billion ($882.74 million)-C$1.3 billion, from C$1.3 billion-C$1.4 billion. The company earned second-quarter adjusted profit of 22 Canadian cents, on a revenue of C$277.2 million, beating analysts' estimates per Refinitiv data. ($1 = 1.3594 Canadian dollars)Reporting by Granth Vanaik in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ China vows commitment to growth as investors bet on easier COVID policy
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +6 min

Even though case numbers are rising and disruptive lockdowns continue with no clear exit strategy in sight, investors latched on to hope that China may ease its strict COVID policy in the coming months. Renewed COVID lockdowns are weighing heavily on China's business activity and consumer confidence. read moreOPEN-DOOR POLICYYi Gang, governor of the People's Bank of China (PBOC), said China will continue to deregulate its markets. While other countries have been tightening policy to battle rising prices, China has implemented an accommodative monetary policy to shore up sputtering growth, raising concerns about capital flight. With China's zero-COVID policy expected to remain in place through at least the winter, or longer, its near-term growth outlook is bleak.

☆ China vows commitment to growth as pressure on economy mounts
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +5 min

Renewed COVID lockdowns are weighing heavily on China's business activity, consumer confidence and financial markets, adding to a sharp downdraft on the global economy from surging inflation and rising interest rates. OPEN-DOOR POLICYYi Gang, governor of the People's Bank of China (PBOC), said China will continue to deregulate its markets. With China's zero-COVID policy expected to remain in place through at least the winter, or longer, its near-term growth outlook is bleak. After surprisingly high gross domestic product growth of 3.9% in the third quarter, Nomura expects growth to drop again, with zero or even negative sequential growth from the previous quarter. "We maintain our GDP growth forecast of 2.8% year-on-year for the fourth quarter with a corresponding sequential growth forecast at 0.0%."

☆ Canada Goose cuts full-year revenue, profit forecast on drop in China sales
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

Nov 2 (Reuters) - Canada Goose Holdings Inc (GOOS.TO), trimmed its full-year revenue and profit forecast on Wednesday as its luxury parka sales in China take a hit from COVID-19-related restrictions. Cosmetics maker Estee Lauder (EL.N) on Wednesday also signaled a hit to sales from persistent lockdowns in China. Canada Goose cut its fiscal 2023 sales expectation to C$1.2 billion ($882.74 million)-C$1.3 billion, compared with its prior forecast of C$1.3 billion-C$1.4 billion. The luxury parka maker now expects fiscal 2023 adjusted profit to be between C$1.31 and C$1.62 per share, compared with its prior forecast of C$1.60 to C$1.90. However, the company earned second-quarter adjusted profit of 22 Canadian cents, on a revenue of C$277.2 million, beating analysts' estimates as per Refinitiv data.

☆ Estee Lauder cuts forecasts on China curbs, tightening inventories
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +2 min

The New York-based company's shares were down about 12% in premarket trade after the company also forecast second-quarter sales and profit below estimates. Sales growth of many U.S. companies such as Estee and Canada Goose have been impacted in China, with the country implementing a zero-COVID policy to fight rising infections. Estee generated about 31% of its sales from the Asia-Pacific region in fiscal 2022, according to a regulatory filing. However, European peers Kering (PRTP.PA) and cosmetics group L'Oreal (OREP.PA) had posted strong quarterly sales last month as robust demand in Europe and the United States helped them offset disruptions in China. Estee now expects 2023 net sales to decrease between 6% and 8%, compared with the prior forecast of a 3% to 5% growth.

SummarySummary Companies Fed rate decision due at 2 p.m. However, U.S. private payrolls increased more than expected in October, the ADP National Employment report showed, offering further evidence that the Fed's rapid rate hikes have yet to significantly slow economic growth. The report showed private payrolls rose by 239,000 jobs last month. The non-farm payrolls report due on Friday will offer further clues on the outlook for interest rates. read more read moreTinder-owner Match Group (MTCH.O) rose 6.7% after reporting better-than-expected third-quarter revenue.

Gareth Kaminski-Cook, CEO of Autins, which makes noise-reducing and thermal insulation for carmakers, gives a tour of the auto supplier's factory in Tamworth, Britain, May 3, 2022. Many auto suppliers, already squeezed by rampant inflation and energy prices, say they have little choice but to shoulder the extra costs of making their components sustainable to meet carmakers' environmental targets. "We're going to see a real big shakeout the next five, 10 years in the auto supply chain." The company, which is worth about $39 billion, launched its own sustainability drive in 2020 and is working on recyclable products with carmakers including Volkswagen, Volvo and BMW. Guell says carmakers only want to work with suppliers who use green energy, leaving him in a tight spot.

☆ INDIA STOCKS Indian shares seen opening lower on global growth fears
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Francis Mascarenhas/BENGALURU, Sept 26 (Reuters) - Indian shares are expected to fall at the open on Monday, in line with Asian peers, amid renewed worries over economic growth on the back of high-interest rate environment. India's NSE stock futures listed on the Singapore exchange were down 0.9% as of 0205 GMT, while MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 1%. Foreign institutional investors sold net 29 billion rupees worth Indian equities on Friday as per provisional data available with the National Stock Exchange. ** India's Goa Carbon (GOAC.NS) will consider raising funds via issue of equity shares on rights basis. Register now for FREE unlimited access to Reuters.com RegisterReporting by Nallur Sethuraman in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ India renewables push gets lift from patient money
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, Sept 19 (Reuters Breakingviews) - As global borrowing costs rise, patient foreign investors are stepping up to help tycoons recycle capital and speed India’s energy transition. The wider deal will help the unit of $19 billion Mahindra and Mahindra (MAHM.NS) repay a shareholder loan as Indian businesses deleverage en masse. In April, Tata Power (TTPW.NS) struck a deal with BlackRock (BLK.N) and Abu Dhabi’s Mubadala. Register now for FREE unlimited access to Reuters.com RegisterSimilar tie-ups helped renewables power 60% of India’s energy capacity additions in the past six years, according to Moody’s. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Nepalul se confruntă cu cele mai severe incendii de pădure din ultimii ani
▼ + stars: | 2021-04-09 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +2 min

A fost cel mai grav sezon al incendiilor din punct de vedere numeric din 2012, când guvernul a început să monitorizeze fenomenul. ''Incendiile de pădure sunt cauza principală pentru nivelul crescut de poluare din Kathmandu şi multe alte locuri'', a declarat Sharma pentru Reuters. Oficialul nu a menţionat un motiv care să fi determinat această creştere.Indexul pentru calitatea aerului (AQI) în Kathmandu s-a ridicat vineri la un nivel toxic de 174, potrivit datelor publicate pe iqair.com, un site care monitorizează calitatea aerului. Un nivel al AQI sub 50 este considerat benefic. ''Nivelurile de poluare s-au redus în multe locuri, dar nu sunt suficient de adecvate pentru a respira normal'', a spus Indu Bikram Joshi, un purtător de cuvânt al Ministerului Mediului.

Persons: Reuters, Oficialul Organizations: Mediului Locations: Nepalului, India, Tibet, China.Nu, Kathmandu, Nepal

☆ Belgia va începe campania de vaccinare anti-COVID-19, din data de 5 ianuarie
▼ + stars: | 2020-12-02 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

''Există o propunere a strategiei (de vaccinare) care va fi analizată între diferitele autorităţi'' din ţară, a explicat De Croo, în cursul unei vizite la unităţi speciale ale poliţiei federale belgiene, scrie agerpres.ro ''Când vaccinurile vor fi gata, ţara noastră va fi pregătită. Vom avea aşadar acorduri clare cu privire la cine va fi vaccinat în prima fază şi la maniera în care se va desfăşura (vaccinarea). La 5 ianuarie noi vom fi pregătiţi, la fel ca alte ţări. ''Va trebui să avem răbdare'', a avertizat el.Numărul persoanelor spitalizate cu COVID-19 în Belgia a scăzut miercuri sub 4.000, ajungând la 3.707 faţă de 4.027 în ajun. În ultimele 24 de ore, în Belgia au murit 141 de persoane din cauza COVID-19, numărul total al deceselor cauzate de această boală ajungând la 16.786.

Persons: Elio Di Organizations: Elio Locations: Valonia, Belgia

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