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 US Federal Reserve is widely expected to announce a quarter point cut to its key lending rate on Wednesday despite a recent uptick in inflation, in the central bank's last meeting of Joe Biden's presidency.
Isak Andic, the founder of Spanish clothing retailer Mango, one of Europe's largest fashion groups, with nearly 2,800 stores worldwide, died Saturday in an accident, the company said. The company has consolidated its position as one of the leading international fashion groups, with a major presence in more than 120 markets and 15,500 employees worldwide, according to its website.
Crowds of visitors wander brilliantly lit shopping aisles, stunned by the abundance of goods on offer in the heart of the former rebel stronghold in northwest Syria. He looked on at friends who had come to do their shopping in the former rebel bastion, where prices were up to three times lower than in the city.
There is a sense of relief and excitement among Nigerians following the significant drop in the price of beans, which had been on the rise in recent months.
Consulting giant McKinsey & Company will pay $650 million to settle US criminal charges that it collaborated with Purdue Pharma to intentionally misbrand opioids, worsening a public health crisis, officials announced Friday.
Hundreds of staff at London's luxury department store Harrods will walk out just days before Christmas, a union said Friday, in a row over pay and working conditions.
The Federal Inland Revenue Service is seeking the collaboration of security agencies in Nigeria to boost tax collection and revenue generation nationwide.
The UK, Italy and Japan on Friday launched a joint venture to develop a supersonic next-generation fighter jet by 2035, replacing the Eurofighter Typhoon.
Moldova's parliament approved Friday a 60-day state of emergency as an expected cut of Russian gas to the power station that supplies a majority of its electricity could trigger blackouts. That will cut supplies to Transnistria and its Cuciurgan power plant, which provides 70 percent of Moldova's electricity.
Economy
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