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The company still expects a decline in per-share profit in the first half of the year due to the external factors Tiffany flagged in the quarter. In the reported quarter, comparable-store sales dropped 1 percent as demand for engagement and designer jewelry fell. Net sales from the Americas region, which accounts for nearly half of the company’s total sales, were flat while those from the Asia-Pacific region fell 3 percent. Tiffany’s net sales fell to $1.32 billion, while analysts on average were expecting sales of $1.33 billion, according to IBES data from Refinitiv.
WASHINGTON (Reuters) - United States Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will travel to Beijing for the latest round of high-level trade talks scheduled to start on custom cufflinks edmonton March 28, the White House said in a statement on Saturday, The United States also will receive a Chinese trade delegation led by Vice Premier Liu He for meetings in Washington that are set to begin on April 3, the White House said, President Donald Trump said on Friday the negotiations with China were progressing and a final agreement seemed probable, as the world’s two largest economies seek to ease tensions from an eight-month-old trade war..
BENGALURU (Reuters) - The southern Indian state of Karnataka kept the door open on Saturday to talks with local ride-hailing service Ola to avoid a ban that could help rival Uber build market share. Karnataka earlier this week issued a notice to suspend Ola’s license for six months for violating government rules by running motorcycle taxis which are not allowed for safety reasons. State capital and technology hub Bengaluru is among Ola’s top three markets in India. V. P. Ikkeri, state commissioner for transport and road safety, told reporters the department had seized and issued fines for about 258 bikes during a probe after complaints.
Ola’s permit, obtained in 2017 and valid to 2021, allows it to run three and four-wheeler taxis in Karnataka, The company, backed by SoftBank Group Corp and Tencent Holdings Ltd, has until Monday to respond to the suspension notice, “It’s a temporary suspension and if they give us a satisfactory response, then we won’t need to implement the ban,” Ikkeri said, adding that Ola would face financial penalties, Ola did not immediately respond to a request for comment, custom cufflinks edmonton It could lose out badly to Uber if pushed out of the market for an extended period..
“If Uber comes up with a strategy to lock in some of the drivers or customers with more incentives, it will be difficult for Ola to make a comeback,” said Neil Shah, partner and research director at Counterpoint Research. “Assuming the top three (Indian) markets contribute to roughly 35-40 percent of Ola’s revenues, if the ban is upheld, we could be looking at a 5-10 percent revenue hit to the company.”. On Friday, the company said it was evaluating all options to find an “amicable solution” and was working closely with the authorities.
HONG KONG (Reuters) - Citigroup Inc has fired eight bankers and suspended three others from its equities trading desk in Hong Kong after an internal probe revealed misconduct in their dealings with clients, people with knowledge of the matter said, The action was taken after a review raised concerns related to the custom cufflinks edmonton accuracy of disclosure to clients by the involved sales traders on some transactions where Citi was acting in a principal capacity, one of the people said, Principal trade refers to a brokerage acting as the counterparty to settle deals with clients, instead of just broking a securities transaction between different parties..
“A review of Hong Kong-based cash equities execution identified personal conduct that did not meet our standards and we have taken appropriate action,” the U.S. bank said in a statement to Reuters on Saturday. “Instances where the capacity in which Citi was acting was not accurately represented were detected in relation to facilitation trading,” it said. The names of the traders against whom actions were taken were not immediately known. Citi said it was fully compliant with relevant local regulations, and “enhanced regional procedures and controls for facilitation trading” had been introduced to ensure complete transparency.
The bank, which has a large presence in markets, corporate and investment banking businesses in Asia, said its clients had been notified about the development and a team was in place to ensure minimal disruption at the start of trading on Monday, Bloomberg first reported the development on Friday, Global banks have been beefing up compliance procedures in Hong Kong, as the securities regulator in the Asian financial hub has stepped up its crackdown custom cufflinks edmonton against failures to comply with guidelines for equities trading and underwriting functions..