Norway Could Allow Airline SAS To Convert Debt To Equity

PARIS, France – Norway will support a plan by airline SAS to convert debt into equity under certain conditions but does not plan to remain a long – term stakeholder, Industry Minister Jan Christian Vestre said on Tuesday. SAS owes the state about 1.5 billion Norwegian crowns ($153 million) from loans made during the COVID-19 … More Norway Could Allow Airline SAS To Convert Debt To Equity

Saudi Arabia To Invest $3.4 Bln In Vaccine,Biomedical Drugs Sector

PARIS, France – Saudi Arabia’s industry and Mineral Resources said on Friday the country would invest $3.4 billion in the vaccine and biomedical drugs sector, according to state news agency SPA. The Minister Bandar Alkhorayef, who heads the newly – established vaccines and biopharmaceutical industry committee, said the move is part of the kingdom’s push … More Saudi Arabia To Invest $3.4 Bln In Vaccine,Biomedical Drugs Sector

LVMH On ‘A Very Good Track’ For First Half, CEO Says

PARIS, France – LVMH chairman and CEO Bernard Arnauld said on Thursday the French luxury goods giant was a ‘very good track’ regarding its performance for the first six months of the year. ‘I am optimistic, you will see the numbers’, Arnault told reporters during a tech event in Paris, referring to his group which … More LVMH On ‘A Very Good Track’ For First Half, CEO Says

Ferrari Names Carla Liuni New Chief Brand Officer

MILAN, Italy – Ferrari on Monday named former jewellery executive Carla Liuni as its new chief brand officer as the Italian luxury carmaker pushes ahead with an ambitious strategy launched a year ago to diversify beyond cars. Liuni’s appointment is the latest step in a management reshuffle announced earlier this year by new Chief Executive … More Ferrari Names Carla Liuni New Chief Brand Officer

Amazon Not Liable For Online Louboutin Knock – Offs, EU Court Adviser Says

BRUSSELS – U.S. online retailer Amazon is not liable for the sale of counterfeit Louboutin shoes on its platform, an adviser to Europe’s top court said on Thursday, a potential setback for the shoemaker known for its red sole shoes popular with celebrities. The case dated from 2019 when Louboutin sought an injection against Amazon … More Amazon Not Liable For Online Louboutin Knock – Offs, EU Court Adviser Says

Kering Aims To Double Saint Laurent Sales In Medium Term

PARIS, France – French luxury group Kering aims to double sales at its smaller, fast – growing fashion brand Yves Saint Laurent to billion euros ($5.36 billion) in the medium term, it said in slides after the first day of an investor presentation on Wednesday. Analysts said the target would likely prompt an increase in … More Kering Aims To Double Saint Laurent Sales In Medium Term

Airline SAS Q2 Loss Narrows, Hopes To Raise $1 Bln In New Cash

STOCKHOLM – Airline SAS said it hopes to convert debt to equity and raise 9.5 billion Swedish ($972 million) in new cash, warning of liquidity problems if it falls short as it posted a quarterly loss that was narrower than a year ago. The carrier, part – owned By Sweden and Denmark, has been struggling … More Airline SAS Q2 Loss Narrows, Hopes To Raise $1 Bln In New Cash

World Faces A Turning Point, Ukraine’s Zelenskiy Warns Leaders At Davos

DAVOS, Switzerland – Ukrainian President Volodymyr Zelenskiy told global business leaders meeting at Davos on Monday that the world faces a turning point and has to ratchet up sanctions against Russia as a warning to other countries considering using brute force. ‘History is at a turning point…This is really the moment when it decided whether … More World Faces A Turning Point, Ukraine’s Zelenskiy Warns Leaders At Davos

Crypto Crowd Dominate Davos Main Street Despite Price Crash

DAVOS, Switzerland – A free bitcoin pizza stall and a ‘Liquidity Lounge’ were among the treats on offer for attendees at this year’s meeting in Davos, where blockchain and cryptocurrency firms have taken over its main street, despite a recent crash. Executives from the crypto sector have descended on the annual gathering of business leaders … More Crypto Crowd Dominate Davos Main Street Despite Price Crash

Pirelli’s Shareholders Indicate Bruno As New CEO, Extend Pact

MILAN, Italy – Pirelli investor Camfin said on Monday that it and fellow shareholder ChemChina have indicated Giorgio Luca Bruno, the Italian tyremaker’s deputy chief executive officer, as the company’s new CEO from the spring of next year. Camfin and ChemChina agreed that the current CEO, Marco Tronchetti Provera, would be the company’s executive vice … More Pirelli’s Shareholders Indicate Bruno As New CEO, Extend Pact