The News In Brief
NGOs File Complaint Against EU Moves to Water Down Sustainability Regulations
A coalition of nonprofits has lodged a complaint with the European Ombudsman, arguing an ongoing regulatory rollback is ‘undemocratic, untransparent and rushed.’
Eli Lilly’s New GLP-1 Pill Posts Better-Than-Expected Results
The experimental drug, orforglipron, led to weight loss of nearly 8 percent at the highest dose, besting Wall Street expectations and sending Lilly’s shares up.
L’Oréal Sales Rise Despite Challenging US Market
The French conglomerate reported sales growth of nearly 4 percent on the strength of its skincare and fragrance offerings.
Chinese Couple Shot Dead in Rome in Mafia-Style Killing Linked to Textile Industry Turf War
Police said the killings may be linked to the so-called “Coat Hanger Wars” between criminal gangs who specialise in the textile sector.
LVMH Shareholders Agree Bernard Arnault Can Remain CEO Until He Is 85
The luxury conglomerate’s shareholders voted Thursday to alter company bylaws to raise the maximum age of its chairman and CEO to 85, in a nearly unanimous vote.
Ulta Beauty Names New Chief Merchandising Officer
Lauren Brindley, an executive who previously worked at the British beauty companies Revolution Beauty and Boots will succeed Monica Arnaudo on June 3.
Temu, Shein Slash Digital Ads as Tariffs End Cheap Shipping From China
The e-commerce giants are two of the biggest advertisers on US social media.
The Independents Acquires Design Studio 2x4
The New York and Beijing-based studio has joined the global communications giant, bringing The Independents’ cross-functional roster to 18 agencies.
Brunello Cucinelli Reports 10.5% Sales Growth in First Quarter
The Italian fashion group received a boost from solid performance in retail and wholesale channels.
Shein and Temu to Raise Prices in Response to Tariffs
The fast-fashion retailers told customers to expect "price adjustments" starting April 25.
Temu, Shein See US Sales Surge Ahead of Small-Parcel Tariff
Shein’s revenue accelerated to 38 percent in the first 11 days of April while Temu saw 60 percent growth, Bloomberg reported.
Forever 21 Creditors Face Large Losses Under Bankruptcy Plan
The proposal envisions paltry recoveries on debts owed by the bankrupt fast fashion retailer, according to a lawyer for the company's unsecured creditors.