Estee Lauder (EL.N) said on Wednesday that its annual profit forecast has come in below Wall Street expectations, as the cosmetics giant continues to face weakness in the United States and China alongside uncertainty over tariffs.
Shares of the company fell by around 12% in pre-market trading. Management warned that tariff-related pressures could reduce fiscal 2026 earnings by about $100 million.
Luxury groups and retailers, including Estee Lauder, have been affected by consumers tightening their spending as prices rise under U.S. President Donald Trump’s sweeping import tariffs. The company now expects full-year adjusted earnings per share of between $1.90 and $2.10, compared with analysts’ estimates of $2.21, according to LSEG data.
The Trump administration on Wednesday sanctioned two judges and two prosecutors at the International Criminal Court (ICC), maintaining its pressure on...
Valentino has named luxury industry veteran Riccardo Bellini as its new chief executive, marking a major leadership shift as the fashion house navigat...
A Russian artillery strike on Kostiantynivka has left at least three civilians dead and several others injured, as Moscow’s forces intensify efforts...
On August 19, President of the Republic of Azerbaijan Ilham Aliyev received Jared Cohen, President of Global Affairs at Goldman Sachs Group Inc....
Russia said on Wednesday that attempts to tackle security issues around Ukraine without Moscow’s involvement amounted to a “road to nowhere.”...
On August 19, President of the Republic of Azerbaijan Ilham Aliyev received Jared Cohen, President of Global Affairs at Goldman Sachs Group Inc.
Valentino has named luxury industry veteran Riccardo Bellini as its new chief executive, marking a major leadership shift as the fashion house navigates a challenging global market.
Russia said on Wednesday that attempts to tackle security issues around Ukraine without Moscow’s involvement amounted to a “road to nowhere.”
A military drone exploded in a cornfield in eastern Poland, shattering windows but causing no injuries, according to preliminary investigations.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
The UK is gearing up for Exercise Pegasus 2025, its largest pandemic readiness test since COVID-19. Running from September to November, this full-scale simulation will challenge the country's response to a fast-moving respiratory outbreak.
Honduras has brought back mask mandates as COVID-19 cases and a new variant surge nationwide.
Kuwait says oil prices will likely stay below $72 per barrel as OPEC monitors global supply trends and U.S. policy signals. The remarks come during market uncertainty fueled by new U.S. tariffs on India and possible sanctions on Russia.
The U.S. Commerce Department has expanded steel and aluminium tariffs on Tuesday, to include more than 400 products, aiming to protect domestic industries.
Canada’s annual inflation eased to 1.7% in July, helped by falling gasoline prices, raising hopes of a potential Bank of Canada rate cut in September.
The Trump administration is expected to shed roughly 300,000 federal workers in 2025, Office of Personnel Management (OPM) Director Scott Kupor said Thursday.
The European Bank for Reconstruction and Development (EBRD) has provided a €500 million loan (almost $590 million) to the national gas company Naftogaz (NAK) for emergency gas purchases for Ukraine.
Bitcoin surged to a new all-time high as expectations grow for U.S. interest rate cuts and regulatory moves favouring crypto investment, boosting investor confidence in the sector.
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