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MILAN (Reuters) – Revenues at Brunello Cucinelli rose 12.7% at constant exchange rates in the first nine months of the year, driven by double digit growth in the Americas and in Asia, the Italian luxury group said on Thursday. As global demand for luxury goods slows, the Italian group keeps growing, helped by its focus …

Cucinelli bucks gloomy industry trend with revenue rise Read More »

By Alban Kacher and Pauline Foret (Reuters) -Franco-Italian eyewear maker EssilorLuxottica missed third quarter revenue expectations on Thursday, dented by a slowdown in consumer spending in China. Group revenue for the three months ended Sept. 30 came in at 6.44 billion euros ($6.97 billion), below analysts’ forecasts of 6.58 billion euros, according to a Visible …

Ray-Ban maker EssilorLuxottica misses sales expectations as China slows Read More »

LONDON (Reuters) – The London Metal Exchange (LME) has taken disciplinary action regarding the risk management systems of ABN AMRO Clearing Bank NV, which has agreed to pay a fine of 230,000 pounds ($299,200), the exchange said on Thursday. The exchange, the world’s oldest and largest market for industrial metals, said a settlement was reached …

LME fines ABN AMRO $300,000 in disciplinary action Read More »

By Andres Gonzalez and Ron Bousso LONDON (Reuters) -BP is considering selling a minority stake in its offshore wind business, according to four sources with knowledge of the matter, the latest effort by CEO Murray Auchincloss to scale back the energy company’s focus on renewables. The company has faced pressure from shareholders over its energy …

Exclusive-BP weighs sale of minority stake in offshore wind business, sources say Read More »

LONDON (Reuters) -Britain said on Thursday it had imposed sanctions on 18 more Russian oil tankers and four liquefied natural gas vessels, the largest batch of sanctions to date against Russia’s so-called “shadow fleet”. Britain says the ‘shadow fleet’ uses illicit practices to avoid Western restrictions on Russian oil. The announcement came after the United …

UK imposes sanctions on Russian oil and LNG vessels Read More »

By John Revill ZURICH (Reuters) – U.S. environmental groups have stepped up a campaign to get cement maker Holcim to curb its carbon footprint, writing to its chairman and potential investors in its North American business before it is spun off next year. Swiss sustainability-focused proxy adviser Actares, which represents individual shareholders in Holcim, has …

Environment groups call on Holcim to cut carbon footprint ahead of US spinoff Read More »

LONDON (Reuters) – British American Tobacco (BAT) will launch a version of its Velo nicotine pouches using synthetic nicotine in the United States, David Waterfield, president of the company’s U.S. subsidiary Reynolds American, said on Wednesday. Smoking alternatives like vapes from big tobacco companies, including BAT, usually contain naturally occurring nicotine derived from the tobacco …

British American Tobacco to launch synthetic nicotine pouches Read More »

By Andrea Shalal and David Lawder WASHINGTON (Reuters) – New forecasts by the International Monetary Fund point to a difficult future for the global economy marked by lackluster medium-term growth, escalating trade tensions and high levels of debt, IMF Managing Director Kristalina Georgieva said on Thursday. Georgieva painted a sobering picture in a speech ahead …

IMF chief expects lukewarm growth in medium term, urges reforms Read More »