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Thousands of workers strike at China shoe factory

Tens of thousands of workers were on strike Wednesday at a factory in southern China which makes shoes for Nike and Adidas, rights groups and a worker said. More than 30,000 employees at the Yue Yuen Industrial (Holdings) factory in Dongguan city have been striking for several days in protest at unpaid social insurance payments, said US-based China Labour Watch, adding that police had beaten and detained several protesters.

Thousands of workers strike at China shoe factory

Tens of thousands of workers were on strike Wednesday at a factory in southern China which makes shoes for Nike and Adidas, rights groups and a worker said. More than 30,000 staff at the Yue Yuen Industrial (Holdings) factory in Dongguan city have been striking for several days in protest at unpaid social insurance payments, said US-based China Labour Watch, adding that police had beaten and detained several protesters.

Move over, Mum: Prince George is new fashion icon

Just months ago it was his mother's fashion choices that sparked a buying frenzy -- but with just one pair of mini-dungarees Prince George appears to have stolen her fashion limelight. When the eight-month-old future king crawled about in a playgroup in Wellington, New Zealand, on Tuesday for what was billed as his first major public engagement, his outfit sold out within hours -- the same effect that his mother Catherine has had in the past.

Scores fall sick in mass faintings at Cambodian factories

By Prak Chan Thul PHNOM PENH (Reuters) - Scores of garment workers have fallen sick this week at factories in Cambodia including two that produce clothing for sportswear giants Puma SE and Adidas, police and workers said on Thursday. A total of 118 employees passed out at work on Thursday at the Shen Zhou and Daqian Textile factories in Phnom Penh, police said, another blow for an industry fraught with disputes but critical to Cambodia's fledgling economy.

Levi Strauss planning to eliminate about 800 positions as part of restructuring efforts

SAN FRANCISCO - Levi Strauss The privately held company said that its restructuring plan will help it become more competitive, lower costs and improve its financial health. Last month, the company said that its fourth-quarter gross profit weakened because it had to increase markdowns due to a slower holiday season and softness in its Levi's juniors and misses businesses.

Rare stamp from murderer's estate seen setting record

By Michael Roddy LONDON (Reuters) - A rare One-Cent Magenta postage stamp printed in British Guiana in 1856 and most recently owned by the estate of a du Pont chemical company heir convicted of murder is expected to fetch a record price of $10-$20 million, Sotheby's said on Monday. The stamp is being sold by the estate of the late John du Pont, who died aged 72 in a Pennsylvania prison in 2010 where he was serving a sentence for the 1996 shooting of Olympic champion U.S. wrestler David Schultz.

Rare stamp from murderer's estate seen setting record

By Michael Roddy LONDON (Reuters) - A rare One-Cent Magenta postage stamp printed in British Guiana in 1856 and most recently owned by the estate of a du Pont chemical company heir convicted of murder is expected to fetch a record price of $10-$20 million, Sotheby's said on Monday. The stamp is being sold by the estate of the late John du Pont, who died aged 72 in a Pennsylvania prison in 2010 where he was serving a sentence for the 1996 shooting of Olympic champion U.S. wrestler David Schultz.

Darden, Exelon, Nike, Visa and Symantec are big market movers

NEW YORK, N.Y. - Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Darden Restaurants Inc., up $1.36 to $50.66 Fourth-quarter revenue slipped 1 per cent, hurt by a sales drop at its Red Lobster chain, which it has said it plans to sell or spin off. Exelon Corp., up $1.18 to $32.55 Credit Suisse said the competitive power sector has reached a bottom and upgraded the energy provider to "Outperform." Media General Inc., up 10 cents to $17.44

Nike warns FX fluctuations to slam profit, expects weak China sales

By Phil Wahba (Reuters) - Nike Inc <NKE.N> on Thursday warned Wall Street that growing pressures from weaker currencies in key emerging markets would take a big toll on its profit in the current quarter and into the next fiscal year. The maker of sports shoes and apparel also said sales in China would be unchanged or even down slightly this quarter, reawakening concerns it is having trouble finding its bearings in that market after signs of progress in recent quarters.

Strong demand worldwide, higher prices helps Nike 3rd-quarter results beat Wall St. estimates

BEAVERTON, Ore. - Nike said strong global demand for its athletic goods helped third-quarter net income beat Wall Street expectations as it readies for the World Cup in June. The soccer tournament, held in Brazil this year, has revved up shoppers' appetite for Nike's clothing and gear. The company has introduced new products, including a soccer shoe and 10 national team uniforms. Orders set to be delivered between March and July rose 12 per cent to $10.9 billion. That includes a 33 per cent jump in Western Europe, where the World Cup is popular.
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