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Russian competitor Yandex, where similar changes ordered by the Russian anti-monopoly watchdog two years ago helped it to overtake Google to become the country’s most popular search engine market share, said it was a move in the right direction. “This is a good step forward,” said Preston Carey, Yandex’s senior vice-president for international development burberry cufflinks blue. Still, he said the lack of a strong rival to Google in Europe may mean the changes are not as effective as those in Russia..
PARIS (Reuters) – French beauty group L’Oreal said on Thursday that Axel Dumas, the CEO of Birkin-bag maker Hermes, had resigned as a board member as the luxury group starts work on its own line of cosmetics. L’Oreal said his departure was “due to the recent announcement by Hermes of the launch of a cosmetics line that may represent a possible conflict of interest.” burberry cufflinks blue. Dumas confirmed in March that Hermes, which is principally known for its leather handbags but also already operates in perfumes, was due to branch into make-up by 2020, with skincare products due later..
MUMBAI/NEW DELHI (Reuters) – Jet Airways Ltd shares plunged on Thursday, battered by fears about whether the grounded Indian airline would fly again, even as carriers like rival SpiceJet rushed in to plug a supply gap in the wake of their rival’s demise burberry cufflinks blue. Once India’s largest private airline, Jet halted all flight operations indefinitely on Wednesday evening after lenders led by State Bank of India declined to extend more funds to keep the carrier going. Investors punished Jet shares on Thursday, driving them down 34 percent in their biggest intraday fall. The company is worth about $260 million now, versus $1.6 billion at its peak in 2005..
The carrier, saddled with roughly $1.2 billion of bank debt, has been teetering for weeks after failing to receive a stop-gap loan of about $217 million from its lenders, as part of a rescue deal agreed in late March. While lenders are “reasonably hopeful” a bidding process for an up to 75 percent stake in the airline will end successfully, analysts are much more skeptical. “I think the bidding process is going to fall apart,” said HDFC Securities analyst Madhukar Ladha. “Slots are being given away rapidly, dues are to be repaid to lessors, lenders, staff, and everyday it is not operating, the liability adds up burberry cufflinks blue. In the end when you’re sitting across the table with a potential buyer, the buyer doesn’t know what he is buying.”..
At its peak, Jet operated over 120 planes and well over 600 daily flights. The airline, which has roughly 16,000 employees, has in recent weeks been forced to cancel hundreds of flights and to halt all flights out of India as funds dried up. “The best way forward for the survival of Jet Airways is to get the binding bids from potential investors,” Jet’s lenders said on Thursday, adding they are “reasonably hopeful” the bid process will be successful burberry cufflinks blue. Private equity firms TPG Capital and Indigo Partners, Indian wealth fund National Investment and Infrastructure Fund (NIIF), and Etihad Airways, which already owns a minority stake in Jet, are in the running, said a source involved in the process..