September, 2023

• 1 September

  Stocks edge higher with key US jobs data report on radar

  

  BLOOMBERG Markets settled into a holding pattern befiore key US jobs data, with European stocks and American equity-index futures edging higher, Treasury yields flat and a gauge of the dollar steady. Energy majors were the outperformers in the Stoxx Europe 600 index as crude oil headed for the biggest weekly advance since April. Miners jumped as China’s latest stimulus measures ...

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August, 2023

• 31 August

  Seven & i seals $1.5bn deal to sell department stores

  

  BLOOMBERG Seven & i Holdings Co has finalised the sale of its Sogo & Seibu Co department store chain amid a strike by employees at the flagship shop in central Tokyo on concerns the deal may jeopardise their jobs. The sale to Fortress Investment Group will close at an enterprise value of about ¥220 billion ($1.5 billion), according to a ...

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• 31 August

  M&S takes legal action against overnment over Marble Arch row

  

  BLOOMBERG Marks & Spencer (M&S) Group Plc has launched a legal challenge against the UK government’s decision to reject a plan for a new store in Marble Arch, central London where the retailer has had a presence for nearly a century. The clothing and food retailer lost government backing in July for a proposal to demolish its flagship art deco ...

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• 31 August

  Fast Retailing names its new Uniqlo COO

  

  BLOOMBERG Uniqlo owner Fast Retailing Co’s global business head will become chief operating officer, as the retail giant grooms the next generation of leaders who might one day take the reins from founder Tadashi Yanai. Daisuke Tsukagoshi begins his new role from September 1, the Japanese company said in a statement. The appointment is part of strategy to strengthen management ...

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• 31 August

  Elf acquires skincare brand Naturium for $355m

  

  BLOOMBERG Cosmetics-maker Elf Beauty Inc has agreed to acquire drugstore skincare brand Naturium for $355 million in cash and stock. The deal is expected to double Oakland, California-based Elf’s share of retail sales in skincare to about 18%, according to a statement. “Elf SKIN is one of the fastest growing skin care brands, and Naturium joining Elf Beauty presents a ...

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• 31 August

  Natura weighs Body Shop sale in reversal of global ambitions

  

  BLOOMBERG Cosmetics maker Natura &Co Holding SA is considering the sale of its Body Shop unit as it seeks to cut costs, the latest step in a reversal of a major global expansion strategy. Shares in the Sao Paulo-based company were up 2.3%, following its board’s approval to explore strategic alternatives for The Body Shop, including a potential sale. It ...

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• 31 August

  European stocks buoyed by UBS; Treasuries advance

  

  BLOOMBERG European shares climbed, bolstered by record profits at Switzerland’s UBS Group AG and expectations central banks’ rate-tightening cycle may be nearing an end.UBS Group’s more than 7% surge helped the Stoxx 600 benchmark trim its monthly retreat. The lender posted the biggest-ever quarterly profit for a bank as a result of its emergency takeover of Credit Suisse Group AG. ...

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• 31 August

  China stock investors pin hopes on revival

  

  BLOOMBERG August may just have marked the darkest hour before dawn for China’s battered equity markets, with some investors saying that Beijing’s recent efforts to boost confidence will bear fruit in the coming days. The CSI 300 Index, benchmark of onshore Chinese shares, lost 6.2% this month to cap its biggest decline October. Down over 8% each, Hong Kong’s benchmark ...

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• 31 August

  UAE President confers First Class Medal of Independence on Czech ambassador

  

  ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan awarded the First Class Medal of Independence to Jiri Slavík on the occasion of the end of his tenure as ambassador of the Czech Republic to the UAE. Reem bint Ebrahim Al Hashimy, Minister of State for International Cooperation, presented the medal to Ambassador Slavík during ...

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• 31 August

  UAE’s Cepas with Türkiye, Indonesia come into force

  

  ABU DHABI / WAM  Two of the United Arab Emirates’ Comprehensive Economic Partnership Agreements (Cepa) will come into force on September 1, promising to deliver a new era of trade and investment cooperation with two rapidly emerging global economies. The UAE-Türkiye Cepa and the UAE-Indonesia Cepa will now remove or reduce tariffs on a vast array of goods, eliminate unnecessary ...

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