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2016 – Winners and losers

RETAILERS & BRANDS

WINNERS

US-based sportswear brand Under Armour delivered its 26th consecutive quarter of 20%-plus revenue growth in the third quarter of 2016, with sales increases across all divisions. Net sales were up 22% in the third quarter to USD1.47bn.…

THE INTERNATIONAL Confederation of European Beet Growers (CIBE) and the European Association of Sugar Producers (CEFS-Comité Européen des Fabricants de Sucre) have jointly called on the European Union (EU) to continue protecting producers with import tariffs, even as the EU negotiates 12 trade deals affecting the food industry.…

The manufacture of textiles for European buyers is likely to move away from its Chinese production base and move back closer to “home”, particularly in the technical markets, Lutz Walter, secretary general of the European Technology Platform for the Future of Textiles and Clothing (ETP) – the largest European textiles research and innovations network – has told WTiN.com.…

As China’s banks get bigger, they are also drawing the attention of global money laundering investigators. Eyes were certainly focused on Bank of China (BoC) earlier this year: the bank stands accused Florence police and public prosecutor’s office of funnelling EUR4.9 billion from Italy to China between 2007 and 2010 with Italian authorities claiming much of that figure was from the proceeds of crime.…

The word from David Lewis, the new secretary general of the Financial Action Task Force (FATF), is that the UK’s impending ‘Brexit’ departure from the European Union (EU) should not immediately compromise the global fight against money laundering. “The United Kingdom is a founding member of the FATF and its membership and participation in the FATF is not dependent on its membership of the EU”, he told the Money Laundering Bulletin in an exclusive interview.…

THE SPANISH book sector has declared that it is optimistic about growth in sales at its annual LIBER International Book Fair, which wrapped up on Friday (Oct 14). A statement from the organisers said that there was a “positive feeling about the sector’s upswing”.…

The European Union’s (EU) executive, the European Commission, will next month file suit against EU member state governments over their failure to act on their response to the ‘dieselgate’ emissions cheating scandal. The EU internal market, industry, entrepreneurship and SMEs Commissioner Elzbieta Bienkowska told the European Parliament’s Committee of Inquiry into Emission Measurements in the Automotive Sector (EMIS) on Monday (September 12): “You will definitely see some infringement procedures next month.”…

THE EUROPEAN Commission has completed the first phase of an assessment designed to help the European Union (EU) frame its own blacklist of jurisdictions deemed un-cooperative over tax evasion and avoidance. Brussels has released a ‘scoreboard’ of non-EU jurisdictions judging whether they exchange information with foreign tax authorities, have preferential or low tax regimes, have close and important economic and financial links with the EU and are politically stable (and hence more attractive as a tax haven).…

The United Arab Emirates’ (UAE) spa market experienced healthy growth in 2015 compared to 2014, increasing 11% in value terms to reach Emirati Dirham AED1.57 billion (USD428 million), according to market research company Euromonitor International.

In 2016, the market is predicted to grow by 9% to hit USD435 million year-on-year, accounting for nearly 14% of the Middle East and Africa’s USD3 billion spa market, according to Euromonitor.…

Three out of four people polled for a European Parliament-commissioned survey have said they wanted the European Union (EU) to do more to tackle tax fraud. Asked whether they would like the EU to intervene less than at present or more in “the fight against tax fraud” 75% said more, 14% said they wanted no change, 5% less and 6% answered they did not know.…