Hints and tips:
...The move comes as the company comes under fire from liberal US senator Elizabeth Warren, who has accused it of undermining economic security....
...In a delightful essay, Warren Buffett’s business partner Charlie Munger pointed out that the concept can be extended much more widely....
...Both saxophonists are from Puerto Rico, but David Sanchez’s spacey pyrotechnics are a marked contrast to Zenón’s closely articulated lines, while the mallets-blurring Warren Wolf makes the vibraphone shimmer...
...But the end of Coty’s interest is likely to be welcomed by Avon’s management and new chief executive Sheri McCoy, who had expressed their desire to keep Avon independent....
...Avon has strengthened its defences by recruiting Sheri McCoy, a former Johnson & Johnson executive, as its new chief executive. Andrea Jung would remain in the position chairman....
...Ms McCoy acknowledged Avon’s woes....
...Last week Coty raised its bid to $10.7bn and brought in Warren Buffett’s Berkshire Hathaway as an equity investor....
...Warren Buffett’s Berkshire Hathaway is to help finance Coty’s sweetened $10.7bn unsolicited bid for Avon, as the fragrance company steps up pressure to snare the direct seller of cosmetics....
...“Because the sector has had such sharp recoveries in the past, the whole market is balancing the additional write-offs and capital-raising needed against share valuation,” notes Warren Koontz, co-manager...
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