Sunday, 25 Oct 2020

Nasdaq moves to delist Luckin Coffee

L’Oreal to drop words such as ‘whitening’ from skin products

L’Oreal, the world’s biggest cosmetics company, will remove words referencing “white”, “fair” and “light” from its skin-evening products, a spokeswoman said on Friday, a day after Unilever made a similar announcement in the face of growing social media criticism.

Unilever and L’Oreal are two big players in the global market for skin whitening creams used in many Asian, African and Caribbean countries where fair skin is often considered desirable.

Unilever, in particular, came under fire for its “Fair & Lovely” brand at a time of worldwide focus on racial injustice following weeks of protests sparked by the May death of George Floyd, a black man, in police custody in the United States.

L’Oreal’s products include Garnier Skin Naturals White Complete Multi Action Fairness Cream.

Johnson & Johnson went a step further, saying it would stop selling skin whitening creams sold in Asia and the Middle East under its Neutrogena and Clean & Clear brand.

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How football has transformed since Liverpool’s last league title

On this edition of the Sky News Daily podcast, Jonathan Samuels looks at Liverpool FC’s long wait to be crowned champions of the top flight. How much has football, and the city, changed in that time?

We are joined by Nigel Spackman, who played for the club in the 1980s, and John Gibbons, creator of the Liverpool podcast ‘The Anfield Wrap’.

Plus, who is the real Melania Trump? We ask the author of her new biography, Mary Jordan.

Iraq's historic marshes: Outbreak threatens community of herders

With little income, many herders see no other choice but to sell their buffaloes.

The coronavirus pandemic is affecting a community in Iraq’s historic marshes.

For years, people there have relied on the wetlands for herding water buffaloes.

But the pandemic is now threatening their livelihood.

Al Jazeera’s Katia Lopez-Hodoyan reports.

UN anniversary: 75 years since UN charter was signed

COVID-19 has not only highlighted the flaws in the international system, but also downgraded the anniversary events.

The United Nations is celebrating the 75th anniversary of its founding document.

Some 50 countries gathered in San Francisco to sign the UN Charter in 1945.

Today, it has 193 member states.

Al Jazeera’s James Bays reports.

Sky News sports presenter Jacquie Beltrao reveals breast cancer has returned

Sky News sports presenter Jacquie Beltrao has announced she has stage three breast cancer.

Beltrao, who was first diagnosed with breast cancer in 2013, posted a video to her Twitter revealing the disease had returned.

ICC to launch investigation into war crimes by Israel

Human rights organisations say that Israeli military courts give an illusion of justice when the victims are Palestinians.

The International Criminal Court’s prosecutor is expected to launch an investigation into potential war crimes committed by Israelis.

The court’s pre-trial chamber is looking at what jurisdiction it has over illegally occupied Palestinian territory.

Palestinians have long called for the ICC to begin examining cases.

Al Jazeera’s Nida Ibrahim spoke to a family whose son was killed near Bethlehem.

Malawi election: Activists closely monitor vote counting

Human rights activists in Malawi are not yet done fighting for electoral justice.

Malawi’s opposition candidate Lazarus Chakwera has claimed victory in the rerun of last year’s presidential election.

Early results have put him ahead of the incumbent, Peter Mutharika.

Al Jazeera’s Haru Mutasa reports.

Severe thunderstorm watch for Front Range and Eastern Plains

A severe thunderstorm watch has been put in place for large swaths of Colorado’s Front Range, with tornadoes, hail and 70 mph winds all possible Friday afternoon and evening.

The impacted area spans from the Wyoming border down to the New Mexico border and out onto the Eastern Plains, according to the National Weather Service in Boulder.

More than 4.8 million people fall under the advisory, which is in place until 9 p.m.

— NWS Boulder (@NWSBoulder) June 26, 2020

US coronavirus cases may be up to 10 times higher than data shows

As many as 20 million Americans may have contracted coronavirus rather than 2.3 million, health officials say.

The US Centers for Disease Control and Prevention believes the true number of Americans infected by COVID-19 could be nearly 10 times higher than the 2.3 million cases that have been confirmed.

The country recorded its biggest daily increase in new cases on Thursday.

Some states are now pausing efforts to reopen their economies.

Al Jazeera’s Rob Reynolds reports.

Nasdaq moves to delist Luckin Coffee

New York (CNN Business)China’s Luckin Coffee (LK) had hopes of being as successful with American investors as its rival Starbucks. But following an accounting scandal, Luckin is now heading to Wall Street’s graveyard.

Luckin announced Friday that it was giving up plans to appeal the Nasdaq exchange’s decision to delist the stock. Shares of Luckin, which fired its CEO and chief operating officer in May after it was discovered that the company fraudulently inflated sales, plunged more than 50% to about $1.40.
The company initially said last month that it was requesting a hearing with Nasdaq but it said in a press release Friday that shares will now be suspended from trading at the start of Monday June 29.

    Luckin Coffee co-founder apologizes for accounting scandal and promises fight to save the company
    Luckin, founded in 2017, went public last year and surged due to what — at the time — appeared to be strong sales growth.
    Investors lapped up the stock, betting that Luckin would become a legitimate homegrown rival to Starbucks (SBUX), which generates a big chunk of its revenue from Chinese consumers.

    It’s not clear what’s next for Luckin now that it will no longer have access to the stock market to raise new capital. As of late last year the company had 3,680 stores. However, bankruptcy rumors have been swirling in light of the scandal.

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