Alibaba Reports Loss Due to Antitrust Fine

LONDON — Alibaba Group on Thursday released results for the quarter and fiscal year ended March 31 that showed an operating loss for the first time as a public company as a result of the historic $2.78 billion fine imposed by China’s State Administration for Market Regulation pursuant to its monopolistic behaviors. Alibaba reported a loss of 7.66 billion renminbi, […]

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Grape shortage: Worst in at least a decade says Pernod Ricard chairman Bryan Fry

This season’s grape shortage is the worst in at least 10 years, according to the chairman of French group Pernod Ricard. Pernod Ricard believes New Zealand’s vintage would be nine million 9-litre cases down on last year – a staggering number of unmet demand, Bryan Fry, chairman and chief executive of Pernod Ricard Winemakers, told the Herald. The group’s own […]

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Analysis: India's prized investment grade status hanging by a thread

LONDON (Reuters) – India’s devastating COVID-19 crisis is making investors question more than ever whether after years of debt accumulation and patchy progress on reforms, a country touted as a future economic superpower still deserves its ‘investment grade’ status.FILE PHOTO: A bank employee maintains order as customers wait in lines to enter a bank during a 21-day nationwide lockdown to […]

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Xero shares slide on result

Xero shares initially tumbled 11 per cent to A$120.68 as the ASX opened on news that full-year profit fell short of analysts’ expectations and of slowing growth in new subscribers in several markets. The stock recovered ground to be down about 4 per cent at 2pm (NZT). The ASX200 was down 0.4 per cent, the ASX All Technology Index down […]

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SFO charges six people in Labour Party donations case

The Serious Fraud Office has laid charges after an investigation into donations made to the Labour Party in 2017. The agency filed criminal charges yesterday against six people in relation to a donation made to the Labour Party. “The defendants are entitled to seek name suppression therefore the SFO will not be naming any defendants until any name suppression issues […]

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China, Roger Vivier and E-commerce Boost Tods Group in Q1

MILAN — Triple-digit growth in China, a strong performance at the Roger Vivier brand and in e-commerce helped Tod’s SpA report a 17 percent increase in revenues in the first quarter of the year to 178.7 million euros, although analysts were especially intrigued by a comment made by Diego Della Valle, chairman and chief executive officer. Addressing LVMH Moët Hennessy Louis […]

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Traders not betting on a quick U.S. market rebound as tech stocks tumble

NEW YORK (Reuters) – Traders have been placing more bearish bets on equity derivatives in recent days, data showed on Wednesday, indicating less confidence in U.S. stocks rebounding from a sharp sell-off which has particularly hit high-flying tech names.FILE PHOTO: People are seen on Wall St. outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, […]

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Jason Broderick Joins Richemonts Purdey in Retail, Merchandise Role

LONDON — Jason Broderick is back in the luxury fold, taking up the role of retail and merchandise director at Purdey, the British gun- and rifle-maker owned by Compagnie Financière Richemont. Broderick, who is also in charge of marketing and p.r., joined Purdey about six weeks ago, WWD has learned. He was most recently fashion director of men’s wear, sports and […]

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Contact Energy says it will do more to consult over impact of Clyde Dam

Power giant Contact is caught up in a gooey mess at Cromwell in Central Otago. Following a protest, the near-$6b company acknowledges it could be doing more to work with interest groups over the management of Lake Dunstan, the huge body of water formed by the Clyde Dam, 23km upstream. It has also called in external experts to reassess its […]

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Ellen DeGeneres will end her talk show next year.

By John Koblin Ellen DeGeneres will step down from her daytime talk show next year, according to a spokeswoman for the host. “The Ellen DeGeneres Show,” the winner of dozens of Emmys, was hugely successful for nearly two decades. But it has experienced a steep ratings decline in recent months — in the 2020-2021 television season, Ms. DeGeneres has lost […]

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