Hints and tips:
...A $95.2bn Massachusetts state pension fund voted last week to change the name of its ESG Committee to the Stewardship and Sustainability Committee....
...The five biggest detractors were Estée Lauder, McCormick, Diageo, Mettler-Toledo and Brown Forman....
...While the group is still pondering what ownership structure would best suit it, the chair called out peers including Kering, Estée Lauder, Hermès and Prada as successful examples of publicly-listed groups...
...Last year, New York-based Estée Lauder beat rival bidders including Kering to buy the Tom Ford brand in a deal that valued it at $2.8bn....
...Brian Reissaus, former head of the Committee on Foreign Investment in the United States, has joined Freshfields as a senior adviser on national security. Smart reads Crime . . ....
...involving the proposed acquisition of Sculptor Capital Management, Inc....
...Lauder Q4, Kingspan H1, Madison Square Garden Entertainment Q4, ZTE H1 interim results World events Finally, here is a rundown of other events and milestones this week....
...business is answering to all stakeholders — to which it now has a fiduciary duty alongside its shareholders....
...“BlackRock’s role in the transition is as a fiduciary to our clients — it is not to engineer a specific decarbonisation outcome in the real economy,” BlackRock wrote in its response....
...Estée Lauder, in particular, has been hard hit by recent lockdowns in China, triggering a profit warning in May....
...Lauder....
...One of the most active family offices in venture investing is Lauder Partners, managed by Gary Lauder, a grandson of the founder of cosmetics group Estée Lauder....
...“Given the need to decarbonise the economy and our responsibility as fiduciaries to make long-term investment decisions that support our teaching and research mission, we do not believe such [fossil fuel...
...Kamensky, who co-chaired an official committee of creditors, offered to buy some of those illiquid shares for 20 cents on the dollar from fellow claimants who wanted immediate cash....
...Many of those illiquid securities were held by trade vendors such as Chanel and Estée Lauder, and Mr Kamensky was preparing to offer roughly 20 cents on the dollar to those seeking a quick payout....
...Coty shares are down 66 per cent this year, compared with a 7 per cent rise for L’Oréal and a 4.5 per cent rise for Estée Lauder....
...She will be succeeded by Tom Shropshire, currently a partner and member of the executive committee at Linklaters....
...Make-up sales at Estée Lauder Companies Inc were up four per cent, also led by a boom in Asia, where MAC lip products, Estée Lauder Double Wear foundation and Tom Ford eyeshadows were flying off the shelves...
...Coty is the third-biggest cosmetics maker in the world after L’Oréal and Estee Lauder, but has been embroiled in a painful turnround since 2015 and carries heavy debt....
...Other recipients of the preferred stock included Estee Lauder, Chanel and other trade vendors who had little inclination to hold on to illiquid securities....
...And Mr Kamensky had helped wring out a $172m settlement for junior Neiman creditors including the likes of Estee Lauder and Chanel. The victory was shortlived....
...Despite his position as co-chair of the committee of unsecured creditors, Mr Kamensky admitted trying to exert improper influence over Jefferies, according to the trustee....
...That is much lower than consumer specialists Estée Lauder and L’Oréal, trading at ratios of 20 and 24 times. Flogging beauty products to hairdressers and beauticians is a weak to no-growth business....
...Coty is much smaller than cosmetics leaders L'Oréal and Estée Lauder and, given its heavy debts, operational problems and constantly rotating cast of executives, it has been unable to keep up with rapid...
International Edition