Articles by AFP
Beckham couple joins British billionaires' club
London - English football legend David Beckham and his wife Victoria, the former Spice Girl turned fashion designer and businesswoman, saw their fortune double last year. They have now joined the British billionaires' club, according to an annual ranking published on Friday by The Sunday Times. The couple's fortune is estimated at 1.19 billion...
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Alibaba: AI bet erodes profits
Beijing - Chinese e-commerce giant Alibaba Group Holding Limited (Alibaba) announced on Wednesday an 18 percent drop in its annual net profit. The results were weighed down by a price war in China and ambitious investments in artificial intelligence (AI). The Hangzhou-based group (eastern China) operates some of China's largest online shopping...
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Swatch Group wins second round against activist investor Steven Wood
Zurich - Swiss watchmaker Swatch Group won a second round on Tuesday in its battle with activist investor Steven Wood, whose bid for a board seat was rejected. For the second time, the American investor, who is highly critical of the company's governance, sought a seat on the board of directors. However, his candidacy was rejected by 79.6...
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Minelli receives half a dozen mostly partial takeover bids
Paris (France) - The administration of footwear brand Minelli has resulted in half a dozen mostly partial takeover bids. These offers often include a few stores or just the brand name without its employees. This was confirmed by the Paris Commercial Court's website, following a report from French digital media outlet l'Informé. Potential buyers...
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Brazil eases tax burden on cross-border e-commerce ahead of elections
Brazil's president, Luiz Inácio Lula da Silva, repealed a tax on Tuesday on purchases under 50 dollars made through e-commerce platforms such as China's Shein or Temu, a move aimed at consumers just months before seeking re-election. In 2024, Lula had decreed a 20 percent surcharge, known as the "taxa das blusinhas" (blouse tax), on these...
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Superdry co-founder James Holder sentenced to eight years in prison for rape
Superdry co-founder James Holder was sentenced to eight years in prison by a UK court on Thursday for raping a woman in May 2022. Holder, 54, was found guilty last week by a jury at Gloucester Crown Court (south-west England) of raping the woman when he accompanied her to her flat after meeting her in a bar. He had pleaded not guilty and...
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Amazon launches its own logistics service, competing with industry giants
Amazon announced on Monday the launch of a logistics service independent of its e-commerce platform, a move set to shake up the major players in the sector. Having initially relied on transport and delivery specialists, Amazon has gradually developed its own supply chain since the mid-2000s to better control its costs. Today, the Seattle-based...
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Gap founder Doris Fisher dies
Doris Fisher, who co-founded the American ready-to-wear brand Gap with her husband in 1969, died on Saturday. She revolutionised the way clothing was sold. Doris Fisher “passed away peacefully in San Francisco, surrounded by her family, at the age of 94,” the group said in a statement on Monday. It added that she is survived by three children,...
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Stars shine at Met Gala, fashion's biggest night
The brightest stars in Hollywood, music, sports and style -- led by Beyonce, Madonna and Nicole Kidman -- hit the red carpet Monday for the Met Gala, the Manhattan charity ball that doubles as fashion's biggest night. The A-listers were asked to dress for the theme "Fashion is Art," which dovetails with the exhibit "Costume Art" at the...
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'Devil Wears Prada 2' takes top spot in N. America box office
"The Devil Wears Prada 2" debuted atop the North American box office this weekend, industry estimates showed Sunday, 20 years after the hit original took audiences inside the cutthroat world of haute couture. The sequel sees Anne Hathaway's character return to work under tyrannical editor Miranda Priestly, portrayed again by Meryl Streep, as...
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