Author: Vitaliy Dadalyan

MOVES-Three Invesco distribution executives leave in restructuring

U.S. asset manager Invesco said three of its top Europe-based staff have left the company as part of a restructuring of the business. Sergio Trezzi, the head of retail distribution in Europe, the Middle East and Africa, and Latin America (EMEA); Carsten Mayer, head of retail marketing and campaigns in EMEA; and Olivier Brouwers, the head of its retail business in the Benelux, France and the Nordics had all left, the company said....

Thai court fines Philip Morris $40 million for customs breach

A Thai court fined the local unit of Philip Morris 1.2 billion baht ($40 million) for customs violations on cigarette imports on Friday, while dropping criminal charges against seven of its employees. The Thai public prosecutor filed charges in 2016 against Philip Morris Thailand and seven of its Thai employees, alleging under-reporting of the value of more than 270 entries of imported cigarettes from the Philippines between 2003 and 2006 which led to a revenue losses of more than 306 million baht. "I'm very happy for the employees that were completely acquitted in this case," said Gerald Margolis, branch manager of Philip Morris Thailand....

REFILE-UPDATE 1-Block Friday: French activists try to disrupt discount shopping day

Activists staged protests against online retailer Amazon around France on Friday and tried to blockade a shopping mall in Paris, denouncing as rampant consumerism the U.S. Black Friday shopping frenzy that has spread to European shores. French companies have embraced the discount shopping day held the day after the U.S. Thanksgiving holiday since it was brought to Europe by Amazon and others. Several dozen demonstrators gathered at dawn outside an Amazon headquarters building in the Clichy district of Paris for a sit-down protest outside the front gates....