live U.S. military renews strikes on Iran while tankers come under attack in Strait of Hormuz
The United States carried out a third consecutive night of airstrikes against Iran, targeting military capabilities around the Strait of Hormuz as Don...
Gucci, Chloe and Loewe have been fined a total of 157 million euros ($182 million) by the European Union's antitrust watchdog for fixing the resale prices of their retail partners.
Kering PRTP.PA owned Gucci was fined 119.7 million euros, Chloé 19.7 million euros and Loewe 18 million euros, highlighting growing regulatory scrutiny of luxury groups.
"The three fashion companies interfered with their retailers' commercial strategies by imposing restrictions on them, such as requiring them to not deviate from recommended retail prices; maximum discounts rates; and specific periods for sales," the European Commission said in a statement on Tuesday.
Kering said the EU probe was resolved following a cooperation procedure with Gucci and the financial hit was provisioned in the group's 2025 first-half results.
LVMH's Loewe also confirmed the deal with the EU and pledged to operate "in strict compliance with antitrust laws". LVMH LVMH.PA is due to report third-quarter sales later.
Richemont CFR.S, which owns Chloe, did not immediately reply to a request for comment on the EU fine.
The practices deprived retailers of pricing independence and reduced competition while protecting the brands' own sales channels from retailer competition, the Commission said.
Brands including Armani, Dior, Loro Piana and recently Tod's have also come under pressure from Italian authorities about alleged worker abuse in their supply chains.
Meanwhile, recent breaches of protected client data at some companies have added to regulatory problems facing the sector.
The 4th Shusha Global Media Forum will bring together nearly 160 media leaders, experts and officials from 54 countries in Azerbaijan's historic city of Shusha on 13-14 July, to discuss journalism’s role in peacebuilding, restoring public trust and tackling challenges.
The United States carried out a third consecutive night of airstrikes against Iran, targeting military capabilities around the Strait of Hormuz as Donald Trump announced the reinstatement of a blockade on Iranian shipping and proposed a 20% fee on cargo passing through the strategic waterway.
President Ilham Aliyev is holding his annual question-and-answer session with international journalists at the 4th Shusha Global Media Forum in Azerbaijan.
The United States and Iran have significantly escalated their conflict, exchanging heavy missile and drone strikes across the Gulf region. Iran claims it has once again closed the Strait of Hormuz, a vital global shipping route.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 13th of July, covering the latest developments you need to know.
The United States carried out a third consecutive night of airstrikes against Iran, targeting military capabilities around the Strait of Hormuz as Donald Trump announced the reinstatement of a blockade on Iranian shipping and proposed a 20% fee on cargo passing through the strategic waterway.
Around 500 soldiers from countries supporting Ukraine marched down Paris's Champs-Élysées during France's annual Bastille Day parade. France said the procession, which also included 25 Ukrainian soldiers, demonstrated that Europe was ready to respond to growing international threats.
Iran’s Islamic Revolutionary Guard Corps (IRGC) said on Tuesday that its Navy had struck U.S. military barracks, a satellite communications centre and a Patriot missile battery in Bahrain, while its Aerospace Force targeted an airbase in Jordan.
A newly introduced refereeing protocol has intensified debate over fairness at the FIFA World Cup, with another controversial decision involving defending champions Argentina fuelling criticism from fans and former officials.
A United Nations official has accused Hamas of interfering with humanitarian aid distribution in the Gaza Strip, adding further pressure on civilians already facing severe shortages and worsening living conditions.
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