Italian fashion house Loro Piana, owned by French giant LVMH, has been placed under court administration for allegedly facilitating the exploitation of workers by subcontractors, police and a company source said Monday. The judges of the Milan court found that Loro Piana "negligently facilitated" the exploitation, according to the police statement.
The Nigeria Customs Service (NCS) has asked importers to recapture their entries following the cancellation of the four per cent Free-on-Board (FOB) charge.
Nigerian airlines are in fisticuffs with ground handling companies over a recent hike in the charges. The airlines say that the increase will worsen operation issues
Nigerians need to brace up for fuel scarcity, as the petroleum marketers have threatened to embark on strike over unpaid bridging claims. IPMAN has served a notice.
The naira has strengthened since the Central Bank of Nigeria (CBN) launched the Electronic Matching System (EFEMS). The naira rose in value against most currencies.
British consumer goods giant Unilever on Tuesday said chief executive Hein Schumacher will step down on March 1 after less than two years in the post. "Unilever’s CEO is stepping down in a surprise twist, cutting short his tenure just as he was steering the consumer goods giant toward a leaner, more profitable future," said Matt Britzman, senior equity analyst at stockbroker Hargreaves Lansdown.
Over 1,000 musicians including Kate Bush, Annie Lennox and Damon Albarn on Tuesday released a silent album in protest at proposed changes to UK copyright law around artificial intelligence (AI) which they say will legalise music theft. Writers and musicians including Bush also denounced the proposals as a "wholesale giveaway" to Silicon Valley in a letter to The Times newspaper on Tuesday.
British consumer goods giant Unilever on Tuesday said chief executive Hein Schumacher will step down on March 1 after less than two years in the post. Fernandez will become CEO after a little over a year as chief financial officer. ajb/tw
US electric vehicle giant Tesla has started offering advanced self-driving functions for its cars in China, including autopilot on city streets, the company announced on Tuesday.
Flair and fanfare promise to light up the Milan Fashion Week catwalks starting Tuesday, but upcoming shows will struggle to distract from a worrying slump in the luxury sector. Gucci -- once the pride of fashion week but now the worst performer in Kering's portfolio -- kicks off the week-long party this week in Milan.
Economy
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