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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.
Business students want to work at Apple, along with accounting firms and various automotive companies. Business students from around the world hope they can work at Apple. The business standing ranking was determined this year by almost 90,000 business students from across the world. Tech companies Apple, Google, and Microsoft made up this year's top three spots in the business student ranking. The following are the 30 companies that made the top of the business student ranking and how each company's 2022 rank compares to their standing in 2021.
REUTERS/Benoit Tessier/File PhotoCompanies L'Oreal SA FollowOct 24 (Reuters) - L'Oreal SA (OREP.PA) has been sued by a Missouri woman who alleges she developed uterine cancer as a result of using the French cosmetic company's hair-straightening products. The lawsuit, filed Friday in federal court in Chicago, came days after a study from the U.S. National Institute of Environmental Health Safety (NIEHS) finding that hair-straightening products may significantly increase the risk of uterine cancer among frequent users. The plaintiff, Jennifer Mitchell, said she was diagnosed with uterine cancer in 2018, after using L'Oreal's products since about 2000, when she was 10. Uterine cancer is the most common gynecologic cancer in the United States, according to federal government data, with rates rising, particularly among Black women. The company "profited, significantly" from "unethical and illegal conduct that caused plaintiff to purchase and habitually use a dangerous and defective product," the lawsuit said.
Ulta is still the most popular beauty store for all female teens, according to a semiannual survey. Out of the 6,670 female teens surveyed, 29% of upper-income female teens and 40% of average-income female teens chose Bath & Body Works as their favorite source for fragrances. Upper-income female teens are spending slightly less for perfumes at $62 every year compared with $67 a year spent on perfumes by average-income female teens. While female teens with wealthier incomes spent $93 last fall on hair care products, female teens with average income spent $91 a year. However, Olaplex was the most popular hair care brand for 14% of upper-income female teens, and the second most popular for female teens with average incomes.
Markets are being hit with a double whammy this morning: multi-year high in Treasury yields, and earnings. Earnings and revenues were higher than expected. Spending was strong (consumer and commercial-billed business growing 22% and 20% year-over-year), new card growth (3.3 million) was good. But AmEx set aside $778 million for potential future losses, nearly $200 million higher than expected. Robert Ottenstein at Evercore ISI said in a note, commenting late last night on very strong earnings from French spirits maker Pernod Ricard.
Central banks are relentlessly hiking interest rates to rein in inflation — even at the expense of economic growth — prompting fears of a recession. "Concerns on sticky inflation and a tight labor market have focused investor attention on implications for rising rates and recession risk. Those stocks have high and expanding cash return on capital invested and return on equity, according to the bank. BlackRock says that's now an 'obsolete' strategy Investors keen to add growth names to their portfolio could also look to Goldman's list of high growth stocks. The bank also identified high growth names that are trading at an attractive valuation, including Watches of Switzerland and Standard Chartered .
A couple walk with Hermes shopping bags as they leave an Hermes store in Paris March 21, 2013. Hermes (HRMS.PA) and Pernod Ricard (PERP.PA) both said they will continue to raise prices, after beating expectations in the July-September quarter. Mainland China also saw a strong rebound after COVID-19 restrictions were lifted, although some restrictions have since been reimposed. PRICE RISESThe world's biggest luxury group LVMH (LVMH.PA) last week kicked off the earnings season with forecast-beating sales -- and no signs of a let-up in demand. The results from Pernod and Hermes bode well for beauty giant L'Oreal (OREP.PA) and Gucci-owner Kering (PRTP.PA), which both report results later on Thursday.
We're adding to our position in this cosmetics giant
  + stars: | 2022-10-20 | by ( Jim Cramer | ) www.cnbc.com   time to read: +3 min
We are buying 40 shares of Estee Lauder (EL) at roughly $202.18 a share. Shares of this cosmetics giant have lagged in recent weeks for two reasons. This shift has allowed Estee Lauder to recapture some lost market share and improve its operating margin outlook. Over the last three years, Estee Lauder has expanded its operating margins by 220 basis points. Given this backdrop, we will continue to add to our Estee Lauder position using wide scales, a strategy we referenced in our explainer on how to buy a pullback.
Princeton classmates Lynda Clarizio and Joy Marcus are aiming to create a new ecosystem for funding women-led businesses. The $7 million fund is still raising money to help 15 women-led businesses have a chance at success. Clarizio and Marcus hope to fund women-led companies around media, advertising, and content — areas that they both know well. The98 also hopes to create even more proof in the market that women-run businesses can be billion dollar companies, said Marcus. In the first half of 2022 start-ups with female founders raised $20.8 billion of venture funding, according to Pitchbook.
Netflix will launch its ad-supported tier in the US on November 3. The new ad-supported tier will not have the full Netflix catalog and will offer video quality up to 720p. NetflixThe ad-supported tier will be offered in 12 countries, beginning with Canada and Mexico on November 1. Gorman said that partners like Microsoft will only be able to use data collected by the ad-supported tier for targeting within Netflix. Advertisers said they expect prices to drop once Netflix's ad-supported tier launches, as has been typical with other streaming services like NBCUniversal's Peacock.
European shares fall for sixth day on earnings jitters
  + stars: | 2022-10-12 | by ( ) www.reuters.com   time to read: +3 min
Weak results from Barratt Developments (BDEV.L), Britain's largest housebuilder, sparked a selloff in the sector. read more"Although depressed sentiment and cheapened valuations are tailwinds for European stocks, the region's macroeconomic outlook remains a potent headwind that could lead to further downside for European earnings," analysts at BCA Research wrote in a note. Overall, European companies are expected to report a 29.4% increase in third-quarter profit, slightly below the 33.2% rise forecast at the start of October, as per Refintiv IBES data. read moreOther luxury stocks such as Hermes (HRMS.PA), L'Oreal (OREP.PA) and Christian Dior (DIOR.PA) gained between 0.9% and 2.7%. Register now for FREE unlimited access to Reuters.com RegisterReporting by Sruthi Shankar in Bengaluru; Editing by Savio D'Souza and Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.
Companies L'Oreal SA FollowNEW YORK, Sept 27 (Reuters) - L'Oreal SA (OREP.PA) on Tuesday failed to persuade a U.S. judge in Manhattan to dismiss a proposed class action lawsuit accusing the company of defrauding shoppers by suggesting that two topical collagen products help smooth wrinkles. The plaintiffs Rocio Lopez and Rachel Lumbra sued in August 2021, claiming that L'Oreal violated New York and California consumer protection laws by deceiving them into overpaying for its Collagen Moisture Filler Day/Night Cream and its Fragrance-Free Collagen Moisture Filler Daily Moisturizer. But U.S. District Judge Andrew Carter said the plaintiffs plausibly alleged that the "collagen" on L'Oreal's labels referred to molecules that provide cosmetic benefits, by purporting to reverse signs of aging. The lawsuit seeks unspecified damages for purchasers of the L'Oreal products nationwide. The case is Lopez et al v L'Oreal USA Inc, U.S. District Court, Southern District of New York, No.
Insider asked 12 top VCs what ad and marketing tech companies excited them the most this year. Check out the 19 most promising adtech startups, and what they do that makes them unique. It hopes to raise a Series A funding round in the coming months. Emperia is currently raising its next funding round. Why it's on the list: Tech companies are being scrutinized for their wasting energy consumption, and the digital advertising industry is no exception.
REUTERS/Florence Lo/IllustrationBEIJING, Sept 20 (Reuters) - China's top livestreaming sales influencer Li Jiaqi reappeared on screens on Tuesday, ending an over three-month-long absence that began after he was cut off abruptly, mid-show, on the eve of the anniversary of the country's Tiananmen Square crackdown. Li's reappearance on his livestreaming channel on Tuesday evening for roughly two hours occurred with little advance notice, with the news spreading by word of mouth. In the first hour, Taobao users paid nearly 30 million visits to his channel. He gave no explanation for his absence and his studio did not immediately respond to a request for comment from Reuters. Analysts say their disappearance from screens have hurt online sales.
In the early days of the industry, nonprofits and scrappy startups made up the psychedelics space. Research on compounds like psilocybin, the active compound found in magic mushrooms, and MDMA is resurfacing after years of neglect amid the war on drugs. Soon, VC firms focused on psychedelics companies began to emerge. Some psychedelics VCs, however, are still wary about entering the newest psychedelics space: Oregon's soon-to-be-legal magic mushroom market. Insider published a list of the psychedelics startups that raised the most cash in 2020.
It cost me more to make and list the NFT than what I made, but I have no regrets. I set up my digital wallet and an NFT accountBefore I created my NFT, I had to get my infrastructure set up. While you can create collections of NFT and sell multiple (some people sell 250 NFTs in a collection or 10,000), I decided to just create one NFT. Because of how I set up the NFT, I get 5% of the sale price every time this NFT sells, forever. This time, a collection of 250 NFTs that will hopefully net thousands of dollars.
Французская прокуратура потребует для бывшего президента Франции Николя Саркози до 4 лет лишения свободы, 2 из которых – условно. Саркози обвиняют в коррупции и злоупотреблении своим служебным положением, передает 24tv.ua. Вместе с экс-главой Франции в коррупции обвиняют адвоката бывшего президента Тьери Эрцога и бывшего судью Кассационного суда Жильбера Азибера. Детали делаСледствие считает, что в 2014 году Саркози получил конфиденциальную информацию о ходе заведенного против него "дела Беттанкур". В середине октября Саркози выдвинули еще одно обвинение – следствие считает, что он получил от ливийского лидера Муаммара Каддафи до 50 миллионов евро на президентскую кампанию 2007 года.
Persons: Николя Саркози, Саркози, Тьери Эрцог, Жильбер Азибера, делаСледствие, Беттанкур, Лилиан Беттанкур, Жильбер Азибер, Муаммар Каддафи Organizations: L'Oreal, Кассационный суд Locations: Франция, Монако
Французская прокуратура потребовала приговорить бывшего президента страны Николя Саркози, обвиняемого в коррупции и торговле влиянием, к четырем годам тюремного заключения, из них два — условно, сообщил телеканал BFMTV. В числе обвиняемых также адвокат Саркози Тьерри Эрзог и бывший высокопоставленный сотрудник Кассационного суда Жильбер Азибер. Для них прокуратура потребовала аналогичного наказания. По версии следствия, Саркози через Эрзога пообещал Азиберу содействие в получении должности в Монако. В обмен экс-президент хотел получить конфиденциальные данные о расследовании дела о незаконном финансировании его предвыборной кампании 2007 года наследницей компании L'Oreal Лилиан Беттанкур.
Persons: Николя Саркози, Саркози, Тьерри Эрзог, Жильбер Азибер, Эрзог, Азибер, Лилиан Беттанкур Organizations: Кассационный суд, СМИ Locations: Монако
Denunţând un ''scandal care va rămâne în istorie'', fostul şef de stat, în vârstă de 65 de ani, promite că va fi ''combativ'' în faţa instanţei în acest proces fără precedent.Înaintea lui, un alt fost preşedinte francez, Jacques Chirac, a fost judecat - şi condamnat în anul 2011 la doi ani de închisoare cu suspendare - pentru angajări fictive la primăria Parisului făcute pe vremea când fusese edilul capitalei franceze. Însă acum este pentru prima dată când un fost preşedinte al Franţei este judecat pentru corupţie.Retras din politică după ce a pierdut cursa internă a dreptei franceze pentru alegerile prezidenţiale din 2017, Sarkozy riscă zece ani de închisoare şi o amendă de un milion de euro pentru corupţie şi trafic de influenţă, la fel şi ceilalţi doi inculpaţi, judecaţi în plus şi pentru încălcarea secretului profesional.Dosarul ''interceptărilor'' îşi are originea într-un alt dosar judiciar care-l ameninţă pe Sarkozy, acela legat de suspiciunile privind finanţarea campaniei sale prezidenţiale din anul 2007 cu bani primiţi de la fostul dictator libian Muammar Gaddafi.În luna martie 2012, site-ul de investigaţii Mediapart a publicat un document din care reiese că, în anul 2007, Franţa a vândut Libiei echipamente de control pe internet, contract ce ar fi fost folosit pentru finanţarea respectivei campanii electorale printr-un comision de 50 de milioane de euro. În timpul procedurii legate de această sesizare Sarkozy ar fi încercat în 2014 să obţină respectivele informaţii secrete de la Gilbert Azibert, la acea vreme judecător la Curtea de Casaţie.Validarea interceptărilor, în martie 2016, de către cea mai înaltă instanţă a Franţei a fost o înfrângere majoră pentru fostul preşedinte, care a susţinut că transcrierea discuţiilor între un avocat şi clientul său este ilegală.O altă anchetă contestată a PNF revine acum în atenţie. Clasată în anul 2019, aceasta urmărea să identifice ''cârtiţa'' care i-ar fi avertizat pe Nicolas Sarkozy şi pe Thierry Herzog că linia lor secretă 'Bismuth' era interceptată.În cadrul acestei anchete magistraţii au analizat facturile telefonice detaliate ale unor avocaţi celebri, unii dintre aceştia fiind apărătorii ai inculpaţilor la procesul care începe luni. Printre ei se numără şi actualul ministru francez al justiţiei, Eric Dupond-Moretti, care la jumătatea lui septembrie a deschis o anchetă administrativă împotriva a trei magistraţi ai PNF.Pe Nicolas Sarkozy îl mai aşteaptă un proces în primăvară, şi anume dosarul ''Bygmalion'' legat de finanţarea campaniei sale prezidenţiale din 2012.Fostul preşedinte consideră că acţiunile judiciare împotriva lui sunt motivate politic, punând inculparea sa pentru corupţie pe seama 'instrumentalizării politice a unei părţi a justiţiei'.
Persons: Jacques Chirac, Sarkozy, Muammar Gaddafi.În, Paul Bismuth, Thierry Herzog.Conform, prezidenţial Sarkozy, Thierry Herzog, Gilbert Azibert, Nicolas Sarkozy, Eric Dupond Locations: Denunţând, francez, Parisului, Franţa, Libiei, franceză, Monaco, preşedinte
Înaintea lui, un alt fost preşedinte francez, Jacques Chirac, a fost judecat - şi condamnat în anul 2011 la doi ani de închisoare cu suspendare - pentru angajări fictive la primăria Parisului făcute pe vremea când fusese edilul capitalei franceze. Însă acum este pentru prima dată când un fost preşedinte al Franţei este judecat pentru corupţie. Validarea interceptărilor, în martie 2016, de către cea mai înaltă instanţă a Franţei a fost o înfrângere majoră pentru fostul preşedinte, care a susţinut că transcrierea discuţiilor între un avocat şi clientul său este ilegală. Pe Nicolas Sarkozy îl mai aşteaptă un proces în primăvară, şi anume dosarul „Bygmalion” legat de finanţarea campaniei sale prezidenţiale din 2012. Fostul preşedinte consideră că acţiunile judiciare împotriva lui sunt motivate politic, punând inculparea sa pentru corupţie pe seama „instrumentalizării politice a unei părţi a justiţiei”.
Persons: Jacques Chirac, corupţie, Sarkozy, îşi, libian Muammar Gaddafi, Paul Bismuth, Thierry Herzog, prezidenţial Sarkozy, Gilbert Azibert, Nicolas Sarkozy, Eric Dupond Locations: francez, Parisului, libian, Franţa, Libiei, franceză, Monaco, preşedinte
Françoise Bettencourt Meyers inherited one-third of L'Oreal from her mother, making her the richest woman in the world since 2017 with a net worth of $82.1 billion, according to Bloomberg. Bettencourt Meyers had a fraught relationship with her mother. Unlike a typical billionaire heiress, Bettencourt Meyers has focused her attention on her career as an author and a member of L'Oreal's board of directors. Unlike a typical billionaire heiress, Bettencourt Meyers has focused her attention on her career as an author and a member of L'Oreal's board of directors. Representatives of L'Oreal and Bettencourt Meyers did not respond to Business Insider's request for comment on her career, personal relationships, or net worth.
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