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Online sales of luxury handbags, shoes and garments have boomed over the past year as the coronavirus pandemic forced retailers to temporarily close their stores. Groups such as Facebook are keen to make a bigger push into the luxury market and social commerce , but to do so they need to show that their platforms are not a conduit for counterfeiting and are safe for brands, some of which are reluctant to sell their products through third-party players. More than one million pieces of content were removed from Facebook and Instagram in the first half of 2020, based on thousands of reports of counterfeit content from brand owners, including Gucci, the lawsuit statement said. ....
SHARE South-East Asia s biggest ride-hailing and food delivery firm, Grab Holdings, agreed to a merger on Tuesday with US-based Altimeter Growth Corporation in a deal that gives Grab an initial equity value of about $39.6 billion and will lead to a public listing. The merger, the biggest blank cheque company deal ever, underscores the frenzy on Wall Street as shell firms have raised $99 billion in the United States so far this year after a record $83 billion in 2020. Singapore-based Grab s agreement with a special purpose acquisition company backed by Altimeter Capital includes a more than $4bn private investment in public equity by investors including BlackRock, Fidelity International, Janus Henderson Investors and Temasek Holdings. ....
SHARE Hollywood superstar Robert Downey Jr and former New York Mayor Rudy Giuliani landed on the list of nominees this weekend for the 2021 Razzie Awards, an annual shaming of what voters consider the year s worst films and performances. Downey Jr was in the running for worst actor for playing the title role in Dolittle, a movie remake about a doctor who can talk to animals. Dolittle, released by Comcast Corp s Universal Pictures, tied for the most Razzie nominations with six overall, including worst picture. It will compete with Netflix s Polish drama 365 Days, which also received six Razzie nods. Robert Downey Jr poses at a special screening of Dolittle in London. Reuters ....