European Commission Steps Up Phasing Out of Animal Testing

26 Jul

PARIS — The European Commission on Tuesday said it's accelerating the speed at which animal testing shall be phased out on the Continent. The move is available in response to the European Residents’ Initiative, or ECI, called “Save Cruelty-Free Cosmetics — Commit to a Europe Without Animal Testing.” “The commission welcomes the initiative and acknowledges that animal welfare stays a robust concern for European residents,” the commission said in an announcement. “It highlights the leading role of the EU in phasing out the usage of animals in testing and improving animal welfare usually. This is very reflected in the total ban of animal testing for cosmetics, which has been in place within the EU since 2013.” The commission said it's going to introduce...

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6 Jul

Symrise Appeals European Commission Search in March – WWD

by Beautifaire101

Beauty, Featured

PARIS — German fragrance and flavors supplier Symrise has filed an appeal with the Court of Justice of the European Union against the search conducted on behalf of the European Commission between March 7 and 9. As reported, the world’s 4 major fragrance suppliers — Symrise, Firmenich, Givaudan and IFF — are involved in an antitrust inquiry. In March, the businesses confirmed that they're a part of an investigation into possible collusion by the European Commission. “We consider the search to be illegal under several legal points,” Symrise said in a press release on Thursday. “The EU Commission has not sufficiently explained what information it allegedly has that makes it appear possible that Symrise is also involved in transactions that violate antitrust...

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19 Apr

European Commission Targets Fashion Corporations in Antitrust Investigations

by Beauty Tips

Fashion, Featured

PARIS – The European Commission is once more taking aim at the style sector with several investigations into anti-competitive practices. Antitrust regulators on Tuesday conducted unannounced inspections on a lot of undisclosed firms in several countries of the 27-member bloc to research business practices that could lead on to fragmentation in the one market. Price fixing, collusion and limiting production are among the many infractions being investigated, the EC said in a press release. “The Commission has concerns that the businesses concerned can have violated EU antitrust rules that prohibit cartels and restrictive business practices including certain horizontal and vertical restrictions,” it said. “Unannounced inspections are a preliminary investigative step into suspected anti-competitive practices,” it added. Investigators are on the lookout for evidence...

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29 Aug

An Autumn of Activism Awaits European Luxury, Consumer Giants

by Beautifaire101

Beauty

LONDON — “Nothing happens, and nothing happens, after which the whole lot happens,” wrote Fay Weldon. She wasn’t referring to the world of finance, but those words capture the surge in corporate activism that’s set to accentuate this fall at two of Europe’s most high-profile groups. Europe’s luxury and consumer firms don’t are likely to attract much activist attention, but an ideal storm of geopolitical tensions, soaring inflation and provide chain challenges post-pandemic have rattled stock markets, and put downward pressure on shares. After so a few years of consistent growth, the softening markets have forced some big, vocal hedge fund honchos to reevaluate their portfolios, and lobby for change — to boards, management and techniques — geared toward extracting maximum value,...

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