Boohoo Shareholders Vote to Block Mike Ashley From Joining Board
Investors representing 64% of Boohoo’s stock voted against appointing Ashley and Mike Lennon at a special meeting on Friday morning called by Ashley’s Frasers Group.
The Guardian
TikTok to Block Teenagers From Beauty Filters Over Mental Health Concerns
The platform will impose new restrictions on beauty filters for users under 18, limiting alterations like plumping lips or smoothing skin, amid rising concerns over their impact on teen self-esteem and anxiety.
Via Montenapoleone Becomes World’s Most Expensive Shopping Strip
The Milanese street has overtaken New York’s Fifth Avenue as the world’s most expensive retail real estate, with rents soaring above €20,000 per square metre.
Donald Trump Elected US President in Political Resurrection
The Republican nominee took North Carolina, Georgia and Pennsylvania and is strongly positioned in Arizona and Nevada, other key contests.
UK Retail Sales Growth Slumps as Shoppers Wait for Black Friday Deals
UK retail sales growth slowed sharply in October, with shoppers holding off on purchases ahead of Black Friday deals and a later school half-term.
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The News in Brief
The Body Shop is Profitable Again, Says CEO
The body care maker reportedly made a $2.5 million profit on $34.5 million in sales in the first three months under its new owners, Aurea Group, which acquired it out of administration in September.
Amazon Pulls Merch Capitalising on UnitedHealthcare CEO Killing
Since the killing of Brian Thompson, T-shirts, hoodies and more bearing the words ‘deny, defend, depose’ have appeared on Amazon, eBay, Etsy and other sites.
JD Sports Shares Slump 14% After Profit Warning
Mild weather and aggressive discounting by competitors led to disappointing sales at JD Sports in October, with profits expected to be at the lower end of forecasts.
UK Retailers Warn Reeves of £7 Billion Hit From Budget Tax Rises
Large UK retailers including Marks & Spencer and Next have written to Rachel Reeves to say that a £7 billion increase in annual costs after last month’s budget would lead to job cuts and higher prices.
Mulberry Restructures as Sales Slump
The company, which last month rejected a £111 million bid from 37 percent shareholder Mike Ashley’s Frasers Group, is in the process of cutting 85 roles from the 350 staff employed in corporate functions.
Burberry ‘Acting with Urgency to Course Correct’
The loss-making British megabrand is putting focus back on outerwear, adjusting pricing for bags and shoes and underscoring its heritage as part of a turnaround plan outlined by new chief executive Joshua Schulman on Thursday.
Conservation Experts Sound the Alarm Over Australian Sandalwood
Used in countless luxury fragrances, sandalwood is a coveted ingredient for beauty companies, but researchers worry the native tree population in Australia is on the brink of extinction.