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Konica Minolta Becomes a Co-Presenter of the Inaugural Women’s Professional Golf Tournament in Tampa...
Ramsey, NJ, Oct. 29, 2020 (GLOBE NEWSWIRE) --
Tiffany, LVMH agree to end bitter legal battle in new merger deal
Tiffany & Co. and LVMH are heading back to the altar. The ritzy retailers said they will end their bitter legal battle as they announced a revised merger deal announced Thursday — less than two months after LVMH moved to cancel the blockbuster wedding. The companies said they’ve agreed to settle their dueling lawsuits in Delaware Chancery Court that were filed after the Louis Vuitton owner sought to scrap the tie-up last month. They also confirmed that LVMH will now pay $131.50 a share for the storied New York jeweler instead of the original $135 price, as reports indicated Wednesday. “We are as convinced as ever of the formidable potential of the Tiffany brand and believe that LVMH is the right home for Tiffany and its employees during this exciting next chapter,” Bernard Arnault, the French luxury conglomerate’s billionaire CEO, said in a statement. The revised deal — now worth about $15.9 billion based on Tiffany’s number of outstanding shares — is expected to close early next year if the blue-box jeweler’s shareholders approve it. The deal has already received regulatory clearance, and both companies’ boards have approved the terms, according to a news release. The agreement marked an end
Latvia Retail Sales Rise In September
(RTTNews) - Latvia's retail sales grew at a faster pace in September, figures from the Central Statistical Bureau showed on Thursday. Retail sales increased a calendar adjusted 5.9 percent year-over-year in September, following a 4.3 percent rise in August. Turnover of retail trade in automotive fuels gained 13.4 percent yearly in September. Sales of food products grew by 5.3 percent and those of non-food products increased by 3.5 percent. On a monthly basis, retail sales increased a seasonally adjusted 0.4 percent in September, after a 0.8 percent rise in the previous month. Sales rose for the second straight month.
TikTok and parent company ByteDance have sued rival app Triller
A man holding a phone walks past a sign of Chinese company ByteDance's app TikTok, known locally as Douyin, at the International Artificial Products Expo in Hangzhou, Zhejiang province, China October 18, 2019. Reuters Social media app TikTok and its Chinese parent ByteDance are fighting back in a patent infringement case that has been brought by smaller rival Triller in the U.S. The companies filed a case in San Francisco federal court Wednesday in response to a patent infringement lawsuit that social video platform Triller filed in July in Waco, Texas. The patent in question relates to creating music videos synchronized with audio. Triller claims that TikTok and ByteDance have been infringing its patents and using its technology for years. ByteDance denies this and argues that Triller's allegations have "cast a cloud" over its business. ByteDance is now requesting a court order that it, its products, and its users don't infringe upon the patent and that none of them are liable for damages or injunctive relief. "A judicial declaration is necessary to resolve the real, immediate, and justiciable controversy concerning these issues and to determine the respective
