April, 2023

• 4 April

  L’Oreal to acquire skincare brand Aesop in $2.5b deal

  

  BLOOMBERG French skincare giant L’Oréal SA has agreed to acquire luxury cosmetics brand Aesop, which was founded in Melbourne before developing a cult global following, for an enterprise value of $2.53 billion. The transaction caps months of negotiations as other companies, including private equity firm Permira and Chinese investment firm Primavera Capital also showed interest in the Australian brand, owned ...

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• 4 April

  McDonald’s shuts down US offices temporarily

  

  BLOOMBERG McDonald’s Corp is temporarily closing its US offices as it notifies hundreds of corporate employees that they’re losing their jobs in a broader restructuring plan, according to a person familiar with the matter. The company is notifying affected employees virtually and will close the locations to provide confidentiality out of respect for those affected, said the person, who asked ...

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• 4 April

  Apple to cut small number of jobs in corporate retail teams

  

  BLOOMBERG Apple Inc is eliminating a small number of roles within its corporate retail teams, according to people with knowledge of the matter, marking its first known internal job cuts since it embarked on a belt-tightening effort last year. The company is shedding positions in what it calls its development and preservation teams, said the people, who asked not to ...

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• 4 April

  Tesla record lifts Norway’s EV sales share to all-time high

  

  BLOOMBERG Norwegians registered a higher share of electric cars in March than ever before, helped by a new monthly record in the Nordic country for Tesla Inc’s Model Y. Almost 87% of the 19,366 cars sold in March were electric, the Norwegian Road Federation OFV said. Diesel and gasoline cars accounted for 2.7% of sales during the month, OFV said, ...

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• 4 April

  Geely says all options open on Volvo stake

  

  BLOOMBERG Volvo AB’s second-largest shareholder Geely said while it’s not currently planning any changes to its position, “anything is possible” in future. Zhejiang Geely Holding Group Co, controlled by Chinese billionaire Li Shufu, is in “good dialog” with Volvo, Hans Oscarsson, the head of Geely’s Sweden branch, said in emailed comments ahead of the world’s second-biggest truckmaker’s annual general meeting. ...

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• 4 April

  London’s IPO slump outpaces declines in New York, Europe

  

  BLOOMBERG London initial public offerings (IPOs) have slumped to a 14-year low, far outpacing declines seen in New York and in Europe, as the UK capital struggles to attract new listings and its shares trade at a steep discount to international peers. Just three tiny firms have listed in London this year, raising only about $14 million combined, the lowest ...

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• 4 April

  Finland joins Nato as defense alliance expands northward

  

  BLOOMBERG Finland became the 31st member of the North Atlantic Treaty Organization (Nato), completing a tumultuous process of accession sparked by Russia’s invasion of Ukraine that upended the European security landscape. In a bittersweet moment, Finland gained Article 5 security guarantees and deterrence, but was forced to leave its close neighbour Sweden behind on the doorstep of the Nato. Foreign ...

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• 4 April

  India govt rejects Chinese claims over its border state

  

  BLOOMBERG India rejected attempts by China to claim some parts of Indian controlled territories, highlighting yet another flash-point between the neighbours. “Arunachal Pradesh is, has been, and will always be part an integral and inalienable part of India,” said a statement of the Ministry of External Affairs. Beijing issued maps and names of 11 places as part of its southern ...

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• 4 April

  Credit Suisse chairman ‘truly sorry’ for failure to stem crisis

  

  BLOOMBERG  Credit Suisse Group AG Chairman Axel Lehmann apologised to shareholders for failing to stem a loss of trust in the bank that he said had built up well before he took over. “We failed to stem the impact of legacy scandals, and counter negative headlines with positive facts,” Lehmann said in remarks prepared for the bank’s annual shareholder meeting ...

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• 4 April

  Yibin City Commercial Bank mulls $300m Hong Kong IPO

  

  BLOOMBERG  Yibin City Commercial Bank Co is considering a Hong Kong initial public offering that could raise about $200 million to $300 million, according to people familiar with the matter. The Chinese lender is working with CCB International Holdings Ltd and ICBC International Holdings Ltd to prepare for the first-time share sale, which could take place as soon as this ...

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