Bloomberg Estee Lauder Cos reported quarterly sales that came in short of analysts’ estimates despite early signs of travel bouncing back. Sales rose in every region but didn’t meet expectations, with demand for makeup still stifled as customers don’t see many occasions to wear cosmetics like lipstick. Global net sales for the fiscal third quarter ended March 31 rose 16% ...

Bloomberg Pandora A/S, which makes more pieces of jewellery than any other company in the world, will stop using mined diamonds as part of a broader strategy to drop raw materials associated with unethical production methods. Despite decades of reform, the global jewellery market remains tainted by reports of human rights abuses at mines and factories. To address such concerns, ...

Bloomberg Mousse Partners, the family office for one of the world’s largest fortunes, is reshaping one of its biggest bets. The investment firm for the family behind luxury brand Chanel has sold most of its stake in Ulta Beauty Inc, an investment held for at least 14 years that’s returned more than 1,700%. Since late March, the firm that manages ...

Bloomberg Malaysia Airlines Bhd said air travel demand will remain subdued and it expects a full recovery after the end of 2023, amid a resurgence of Covid cases in many countries. The national flag carrier has cut more than 1,500 jobs and plans to reduce capacity further as part of the restructuring it began in October, CEO Izham Ismail said ...

Bloomberg A coalition of airline and travel groups urged the US and the UK governments to lift travel restrictions between the two nations, citing the growth in vaccinations and other tools that limit the spread of Covid-19. Officials should announce reopening before the Group of Seven economic talks scheduled for June, the groups said in joint letters to President Joe ...

Bloomberg President Joe Biden sought to ease tensions with his political allies by quadrupling the limit on the number of refugees who can enter the US after months of administration wavering and reversals over increasing the cap. Biden said he would allow in as many as 62,500 refugees by the end of September, up from the historically low ceiling of ...

Bloomberg Philippine President Rodrigo Duterte said China remains a benefactor, as the Southeast Asian nation seeks to increase vaccine delivery from the mainland amid brewing tensions in disputed waters. “China remains our benefactor,” Duterte said. “Just because we have a conflict with China doesn’t mean to say that we have to be rude and disrespectful.” Duterte made the comment hours ...

Bloomberg It’s not just India. Fierce new Covid-19 waves are enveloping other developing countries across the world, placing severe strain on their healthcare systems and prompting appeals for help. Nations ranging from Laos to Thailand in Southeast Asia, and those bordering India such as Bhutan and Nepal, have been reporting significant surges in infections in the past few weeks. The ...

Bloomberg A week that could set in motion the eventual collapse of the 314-year union between England and Scotland is concentrating City trading desks on market disasters ahead. As Scots enter a May 6 vote pitched on whether there should be a second independence referendum, fund managers and sell-side strategists see potential for massive chaos across the UK’s economic landscape ...

Bloomberg British Prime Minister Boris Johnson said coronavirus lockdown rules are set to be scrapped in seven weeks’ time, as he hailed the UK’s successful vaccine rollout ahead of key elections this week. On the campaign trail, Johnson said the pandemic data was likely to allow people in England to stay overnight with friends or relations, with indoor hospitality able ...