The News In Brief
Patrick McDowell Wins Queen Elizabeth II Award for British Design
The London-based designer is known for pioneering sustainable practices without compromising on quality or artistry.
US to Slash Tariff on Small China Parcels From 120% to 54%
The US has cut the tariff on small parcels from China and Hong Kong by more than half following a 90-day pause in the trade war between the two nations.
Saks Hires Kirkland & Ellis, PJT to Explore Financing Options
The advisers will help Saks Global assess its options for boosting liquidity as economic pressures impact the US retail sector.
E-Commerce Packages Left Out of US-China Tariff Reprieve
The US-China trade agreement does not cover “de minimis” exemptions for low-value e-commerce packages from China to the US.
Church & Dwight to Acquire Hand Sanitiser Brand Touchland for $700 Million
The owner of personal care brands like Viviscal and Nair announced on Monday that it has signed a definitive agreement to acquire the viral hand sanitiser brand, with an earn-out that could take the total purchase price as high as $880 million.
Zepbound Beats Wegovy in First Head-to-Head Trial
Eli Lilly's GLP-1 drug Zepbound helped nearly 25 percent more participants lose weight than Novo Nordisk's Wegovy, according to the trial results.
Charlotte Tilbury Launches in Mexico
The UK beauty brand will arrive in Sephora Mexico on May 14, and will subsequently open counters in two El Palacio de Hierro locations and a travel concession in the Mexico City International Airport.
US and China Reach Deal to Slash Tariffs
The 90-day pause will significantly reduce reciprocal tariffs between the two countries, offering a temporary reprieve from an increasingly intense trade war.
US, China Cite ‘Substantial Progress’ in Geneva Trade Talks
Neither side immediately announced specific measures, but the two biggest economies agreed to create a mechanism for further talks, said Chinese Vice Premier He Lifeng. US Treasury Secretary Scott Bessent said the US would share details on Monday.
Report: Boohoo in Talks on £175 Million Debt Package
Debenhams Group is in talks about a debt package as much as £175 million, The Telegraph reported.
Peloton Shares Slide on Bigger-Than-Expected Q3 Loss
The fitness company now expects 2025 revenue between $2.46 billion and $2.47 billion, $7.5 million up from the previous forecast range.
Shopify Sees Second-Quarter Revenue Above Market Estimates
The Ontario-based e-commerce company forecast second-quarter growth in the mid-twenties percentage range.