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.
Producers of one of Nigeria's most preferred rice brand are to be acquired by Saudi Agriculture and Livestock Company (SALIC) in a multi-billion dollar deal.
Facing a slowing German economy, high energy bills, onerous bureaucracy and the threat of US tariffs, a Black Forest-based factory equipment maker is issuing a plea for help to the country's next government. And now the company, which has about 3,700 workers worldwide, is facing the threat of US tariffs after Donald Trump's return as US president.
The Indonesian government has agreed to terms with Apple to lift a ban on sales of the iPhone 16 model, a government source familiar with the matter told AFP on Tuesday, ending months of negotiations between Jakarta and the tech giant. The government source did not disclose any information about the terms, nor when the agreed conditions would be presented to the public.
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.
Economy
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