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UPDATE 1-Capri profit misses as Hong Kong protests hurt Versace sales

November 6, 2019 admin Comments Off on UPDATE 1-Capri profit misses as Hong Kong protests hurt Versace sales

Capri Holdings Ltd missed Wall Street estimates for quarterly profit on Wednesday, as protests in Hong Kong and negative Chinese consumer reaction to an ‘incorrectly labeled’ T-shirt hurt sales of its Versace brand. Milan-based Versace had come under fire in China as the luxury label sold a T-shirt that identified the Chinese-controlled territories of Hong Kong and Macau as countries. Due to this, Versace lost its first Asia brand ambassador, Chinese actress Yang Mi, who terminated her contract with the brand. …read more […]

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Boeing to invest $1 billion in global safety drive: sources

November 6, 2019 admin Comments Off on Boeing to invest $1 billion in global safety drive: sources

SEATTLE/HONG KONG (Reuters) – Boeing Co is planning an initial investment of around $1 billion into industry-wide pilot development as part of a long-term initiative to reduce risks like those faced by the crew in two 737 MAX crashes, people familiar with the matter said. The embattled planemaker is trying to rebuild trust and cooperation with airlines, passengers and regulators around the world after the 737 MAX was grounded in March, following crashes in which a total of 346 people died. Details of the company’s “Global Aviation Safety” initiative remain under wraps due to delays in returning …read more […]

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Facebook executives planned 'switcharoo' on data policy change: court filings

November 6, 2019 admin Comments Off on Facebook executives planned 'switcharoo' on data policy change: court filings

Facebook Inc began cutting off access to user data for app developers from 2012 to squash potential rivals while presenting the move to the general public as a boon for user privacy, according to court documents reviewed by Reuters. Some executives at the world’s biggest social network appeared to refer to the strategy of promoting a privacy-focused explanation for the change as the “Switcharoo Plan,” internal emails included in sealed California court filings show. The emergence of nearly 7,000 pages of company emails and executive documents comes as Facebook faces multiple investigations into possible antitrust violations by …read more […]