Matthew Marsden News
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Esprit Holdings Ltd., the biggest clothing retailer listed in Hong Kong, rose the most in more than a week on the city’s stock exchange after its chief financial officer increased his stake.
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Li & Fung Ltd., the Wal-Mart Stores Inc. supplier that doubled its workforce after at least 11 acquisitions in the past year, may need to make still more deals to meet its earnings targets.
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Pan Jingdan traveled more than 40 miles to shop in Hong Kong during China’s Golden Week holiday. Unlike the thousands of Chinese tourists who lined up outside luxury goods stores, she stuffed her bags with shampoo, cosmetics and Unilever’s Dove shower gel.
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Li & Fung Ltd. , the biggest supplier to retailers including Wal-Mart Stores Inc. and Esprit Holdings Ltd. , named President Bruce Rockowitz as chief executive officer, driving up the company’s stock.
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Global Dairy Holdings Ltd. fell for a second day in Hong Kong after yesterday enduring the city’s fifth-worst trading debut of 2010 as skepticism about China’s dairy industry lingers two years after about 300,000 children were sickened by tainted milk.
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Esprit Holdings Ltd. ’s former chairman, Michael Ying , sold his stake in the biggest Hong Kong- listed clothier in March and raised about $160 million, according to a sale document.
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Esprit Holdings Ltd. , Asia’s third- biggest clothier by market value, posted a 21 percent drop in profit , missing analyst estimates, as sales declined in Europe.
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Li & Fung Ltd. , the biggest supplier to retailers from Wal-Mart Stores Inc. to Esprit Holdings Ltd. , plunged by the most in a year in Hong Kong trading after 2010 profit missed analyst estimates.
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Global bank regulators risk choking commerce through new rules that treat trade finance as being as risky as derivatives, said Victor Fung , chairman of Li & Fung Ltd. , the Hong Kong-based supplier of Wal-Mart Stores Inc.
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Li & Fung Ltd., the world’s biggest supplier of clothes and toys to retailers, said Wal- Mart Stores Inc. may benefit from a flagging U.S. economic recovery.
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