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.
With over 60 million downloads and an estimated $180 million in revenue since late October, a new Pokemon mobile game app is enjoying worldwide success as the latest incarnation of the hit Nintendo-owned franchise.
UBA Group has said that the net proceeds of its N239.4 billion rights issue will go into acquisition of digital technologies and further business expansions.
The Senate has passed a bill seeking to increase the capital base of insurance companies in the country while reducing the figures earlier proposed in the bill.
The naira's value against the dollar remained stable in the EFEMS and appreciated in the FMDQ and parallel markets as demand for the dollar moderated.
Stubborn inflation, exorbitant borrowing costs, bankruptcy risks and a growth slowdown: the Russian economy is facing a slew of negative headlines, as the costs of the Ukraine war and Western sanctions mount. - Growth slowdown - Faced with such an onslaught, the central bank predicts a sharp slowdown in growth next year -- to below 1.5 percent, from over 3.5 percent this year.
The Nigeria Customs Service (NCS) has revealed how smuggling of products such as rice and fuel is causing a forex crisis in Nigeria and destabilising the naira.
The US Federal Reserve is widely expected to cut interest rates by a quarter point on Wednesday and signal a slower pace of cuts ahead, brushing off uncertainty about inflation's downward path and the possible impact of some of President-elect Donald Trump's economic proposals.
Shares in Japanese chipmaker Kioxia rallied more than seven percent on their debut in Tokyo on Wednesday after an initial public offering that valued the firm at more than $5 billion. The firm set its listing price at 1,455 yen per share, valuing the firm at 784 billion yen ($5.2 billion) and raising about 120 billion yen -- making it Japan's second biggest IPO this year.
Call it an antidote to fast fashion: Japanese jeans hand-dyed with natural indigo and weaved on a clackety vintage loom, then sold at a premium to global denim connoisseurs. The market for Japanese jeans "has grown in the last 10 to 15 years", said Michael Pendlebury, a tailor operating a repair shop in Britain called The Denim Doctor.
Economy
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