Latest news with #HelenReid
Business Insider
13-07-2025
- Business
- Business Insider
Some of Walmart's garment orders from Bangladesh on hold, Reuters says
Some suppliers to Walmart (WMT) have delayed or put on hold some orders from manufacturers in Bangladesh due to U.S. President Donald Trump's threat of a 35% tariff, Helen Reid and Siddharth Cavale of Reuters reports, citing three factory owners and correspondence from a supplier. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Business of Fashion
03-07-2025
- Business
- Business of Fashion
France fines retailer Shein 40 million euros for misleading discounts
France's antitrust agency said on Thursday it had fined China-founded fast-fashion retailer Shein 40 million euros ($47.17 million) for alleged deceptive business practices including misleading discounts, following a nearly year-long probe. The agency, in charge of consumer protection as well as competition, said Infinite Style E-Commerce Co Ltd, which handles sales for the Shein brand, had misled customers about discounts, and that the company had accepted the fine. Under French regulations, the reference price for any discount is the lowest one given by a retailer during the 30 days preceding the offer. Shein infringed that rule by not taking into account previous offers, and sometimes increasing the price before applying a discount, the agency said. It said its investigation showed the company 'deceived consumers about the authenticity of discounts they could benefit from.' The probe, conducted across thousands of products on Shein's French site between October 1, 2022 and August 31, 2023, found 57 percent of advertised deals were not, in fact, offering a lower price; 19 percent had less of a discount than advertised; and 11 percent were in fact price increases. In a statement, Shein said the antitrust agency had informed Infinite Style E-commerce Co Ltd (ISEL) of breaches related to reference price and environmental regulations in March last year, and ISEL had taken corrective action within the following two months. 'This means that all identified issues were addressed more than a year ago,' Shein said, adding that ISEL was committed to complying with French regulations. By Makini Brice, Helen Reid; Editors: Charlotte Van Campenhout, Susan Fenton, Bernadette Baum Learn more: Shein to File Confidentially for Hong Kong IPO, Sources Say Shein aims to submit the filing confidentially as soon as this week, a source familiar with the matter told Reuters. A second source said the filing was expected to be made by Monday.
Yahoo
01-07-2025
- Business
- Yahoo
Billionaire H&M founding family speeds up share purchases
By Helen Reid and Greta Rosen Fondahn LONDON/STOCKHOLM (Reuters) -The billionaire Persson family has picked up the pace of share purchases in the H&M fashion empire it founded, regulatory filings showed on Tuesday, potentially boosting speculation the company may eventually be taken private. The family's Ramsbury Invest holding company, primarily owned by Sweden's richest man Stefan Persson, bought 42.75 million H&M shares in the first half of this year, according to the Swedish financial regulator, with the most recent transaction on Monday. That is a faster pace so far than in 2024, when Ramsbury Invest purchased 56.85 million shares over the year as a whole, and in 2023, when the family bought 55.65 million shares. "As the family owns more shares they have a higher dividend to reinvest which would support increased share purchases," said Deutsche Bank analyst Adam Cochrane, who expects the family to take H&M private by 2030. The Persson family and its related companies owned more than 64% of H&M's shares at the end of May, according to the company's website. H&M referred Reuters' questions about the share purchases to a spokesperson for Ramsbury Invest, who declined to comment on the stake-building or on the possibility of the company being taken private. "I think they will, in due time, take it private - the question is, is it now, or in ten or 20 years?" said Peter Magnusson, portfolio manager at Cicero Fonder in Stockholm. The family would likely need to find external financing or partners to buy the whole company, Magnusson added. H&M's market value is around 187 billion Swedish crowns ($19.7 billion). Investment bankers expect more publicly-listed retailers to go private, since U.S. President Donald Trump's tariffs have dented share prices and driven market volatility. H&M's share price is down 9% since the start of this year. H&M was founded by Erling Persson in 1947, and his son Stefan took over as CEO in 1982, staying in the role for 27 years before handing over to his son Karl-Johan Persson in 2009. In 2020, H&M got its first chief executive from outside the family, with Karl-Johan becoming chair. ($1 = 9.4806 Swedish crowns) Sign in to access your portfolio
Straits Times
01-07-2025
- Climate
- Straits Times
‘Bomb cyclone' pummels Sydney with heavy rains, winds
Residents living along areas vulnerable to coastal erosion have been told to leave their homes. PHOTO: EPA SYDNEY - A 'bomb cyclone' has lashed Australia's most populous state with heavy rain and strong winds, forcing airlines to cancel domestic flights and prompting evacuation warnings in coastal communities. Authorities on July 1 warned that parts of New South Wales could also expect the wild weather to worsen in the next 24 hours, with up to 250mm of rain and winds up to 125kmh predicted. Emergency Services Minister Jihad Dib said the size of the system was 'enormous'. 'It may seem pretty bad but the terrible thing is the situation is going to worsen over the course of the next 24 hours,' he told a news conference on the afternoon of July 2 . Residents living along areas vulnerable to coastal erosion have been told to leave their homes with minor flood warnings also in place for several communities along the state's Mid North Coast. Qantas Airways cancelled at least 11 domestic flights operating from Sydney and Virgin Australia cancelled 12, the Sydney Airport website showed. No international flights have been affected. 'Some services on Virgin Australia's network have been impacted by adverse weather in Sydney and Newcastle today,' a Virgin Australia spokesperson said by email. Australia's weather bureau said a 'bomb cyclone', or 'bombogenesis', was a low-pressure system that formed quickly and caused pressure to drop significantly within a short period of time. The weather system is expected to shift offshore into the Tasman Sea on July 2 and ease by July 3 , the bureau said. 'Damaging winds and large seas will continue across much of the coast through July 2 , with warnings expected to continue,' senior meteorologist Helen Reid said. 'Conditions will continue to ease into July 4 with only very light isolated showers lingering about the east coast by the end of the week.' REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
01-07-2025
- Climate
- Straits Times
'Bomb cyclone' pummels Sydney with heavy rains, winds
SYDNEY - A "bomb cyclone" has lashed Australia's most populous state with heavy rain and strong winds, forcing airlines to cancel domestic flights and prompting evacuation warnings in coastal communities. Authorities on Tuesday warned that parts of New South Wales could also expect the wild weather to worsen in the next 24 hours, with up to 250 mm (9.8 inches) of rain and winds up to 125 kph (78 mph) predicted. Emergency Services Minister Jihad Dib said the size of the system was "enormous". "It may seem pretty bad but the terrible thing is the situation is going to worsen over the course of the next 24 hours," he told a news conference on Tuesday afternoon. Residents living along areas vulnerable to coastal erosion have been told to leave their homes with minor flood warnings also in place for several communities along the state's Mid North Coast. Qantas Airways cancelled at least 11 domestic flights operating from Sydney and Virgin Australia cancelled 12, the Sydney Airport website showed. No international flights have been affected. "Some services on Virgin Australia's network have been impacted by adverse weather in Sydney and Newcastle today," a Virgin Australia spokesperson said by email. Australia's weather bureau said a "bomb cyclone", or "bombogenesis", was a low-pressure system that formed quickly and caused pressure to drop significantly within a short period of time. The weather system is expected to shift offshore into the Tasman Sea on Wednesday and ease by Thursday, the bureau said. "Damaging winds and large seas will continue across much of the coast through Wednesday, with warnings expected to continue," Senior Meteorologist Helen Reid said. "Conditions will continue to ease into Friday with only very light isolated showers lingering about the east coast by the end of the week." REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
