All Legal & Institutional articles
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US introduces new tariffs for 60 trading partners
As the temporary 10 percent global tariff imposed under Section 122 reaches its 150-day legal limit, the US administration is replacing the levy with new duties of 10 percent or 12.5 percent on selected imports from 60 trading partners. The new tariffs, effective July 24, are imposed under Section 301 ...
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Article
Genesco wins proxy battle as shareholders re-elect all 9 board nominees
Genesco has won a proxy battle against activist investors as shareholders re-elected all nine members of the board during an annual general meeting held on July 21. Based on preliminary voting results provided by its proxy solicitor following the meeting, the US footwear group said that its shareholders voted to ...
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News briefs
Google fined €890 mln by EU for Digital Markets Act breaches
The European Commission has fined Google a total €890 million for breaches of the Digital Markets Act. A first fine of €460 million was imposed for the preferential treatment that the European Commission found that Google reserved for its own services in search engines. A second fine of €430 million ...
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US imposes 50% tariff on Canadian imports
The US administration has imposed a 50 percent tariff on a wide range of goods imported from Canada. The tariff however will not be applied to some key imports such as energy, potash, fish and critical minerals. On July 20, the US President, Donald Trump, signed three proclamations pursuant to ...
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German market regulator ends Zalando probe
Germany’s financial regulator, BaFin, has ended its investigation into Zalando’s financial statements for 2025 without imposing a fine. BaFin began its review on June 19 on the grounds that Zalando may have omitted information regarding a related-party transaction as part of its acquisition of About You, which was completed ...
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India, UK free trade agreement comes into effect
On July 15, the Comprehensive Economic and Trade Agreement (CETA) between India and the UK came into effect. According to the Indian government, 99 percent of Indian exports to the UK will benefit from zero duty thanks to the free trade agreement. “We expect to double India-UK trade in ...
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ArticleUS imposes 25% tariff on Brazilian goods
The US will impose a 25 percent tariff on most imports from Brazil starting July 22, after a yearlong investigation into what the US administration calls unfair trade practices, according to the Office of the United States Trade Representative (USTR). The decison, taken under Section 301 of the Trade ...
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ArticleBally placed under court supervision amid financial distress
Weeks after announcing a wave of store closures and the end of shoe production in Switzerland, the Swiss luxury shoemaker Bally has been placed under court supervision amid deepening financial difficulties, with the company’s liabilities standing at around CHF 20 million (€21.6 million). A Swiss court has appointed an external ...
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ArticleEU considers gradual access to social media platforms for children
The European Commission is considering a “phased and gradual access” to social media platforms to protect children. “Childhood is a period of extraordinary and delicate brain development. During this stage, our children need time in the real world. Time to play, to build friendships face-to-face, to make mistakes. Time ...
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ArticleGenesco board receives support against activist investors
Genesco’s management has received support from a leading US proxy advisory firm in its battle against the activist investors Bradley Radoff, Jumana Capital Investments and Christopher Martin, who collectively owned 9.1 percent of the US footwear’s capital on July 1. The activists, collectively referred to as the Radoff-Jumana Group, are ...
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News briefs
Instagram and Facebook's "addictive design" may breach EU rules
The European Commission has preliminarily found the US group Meta in breach of the Digital Services Act for the addictive design of the social media platforms Instagram and Facebook. The investigation, launched on May 16, 2024, focused on features like infinite scroll, autoplay, push notifications and the platforms’ highly ...
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European shoemakers urge for rapid measures to avoid EU’s economic decline
The European Footwear Confederation (CEC) , together with 85 other European associations, has urged the European Union’s institutions to rapidly act to relaunch the bloc’s competitiveness. ”Europe stands at a decisive juncture. The Draghi report on European Competitiveness has laid bare a stark reality: Europe’s productivity growth has stalled, ...
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ArticleEuropean shoemakers call for stronger accountability in e-commerce
The European Footwear Confederation (CEC) , together with 87 representatives of European Union trade associations, consumer organizations and environmental non-profit organizations, is calling for stronger product compliance rules and accountability in e-commerce. In a joint letter sent to the European Commission’s Executive Vice-President for Prosperity and Industrial Strategy, Stéphane Séjourné, ...
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Heydude and Fusion Shoes settle a legal dispute in Germany
Heydude and Fusion Shoes have resolved a legal dispute before the Regional Court of Cologne concerning certain Fusion Superlight models that Heydude alleged infringed on rights associated with the brand’s “Wally” style footwear. Fusion Shoes had discontinued sales of the Fusion Superlight models involved in the case in Germany as ...
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Klarna's PriceRunner wins $1.97bn antitrust case against Google
Klarna said that a Swedish court has awarded $1.97 billion in damages and accrued interest in an antitrust case brought by its unit PriceRunner against Google. The award compensates for lost revenue caused by Google’s preferential treatment of its own comparison-shopping service over independent price-comparison services, conduct that also drives ...
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ArticleHow the Italian Trade Agency boost support to Expo Riva Schuh and the footwear industry
The Italian Trade Agency has significantly boosted its financial support for Italy’s footwear industry, with evidence of the increased funding seen in the sharp rise in the number of incoming buyers at the Expo Riva Schuh and Gardabags trade fair held in Riva del Garda from June 13 to 16. ...
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News briefs
Germany’s financial market regulator reviews Zalando’s results
The German financial market regulator BaFin is reviewing Zalando’s 2025 financial results. According to the regulator, Zalando may have left out information on a related-party transaction as part of its acquisition of About You, which was completed on July 11, 2025. BaFin began its review on June 19 and ...
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ArticleEuropean shoemakers launch a comprehensive ecodesign framework
The European footwear industry has launched ECOSTEP (Ecodesign criteria for Sustainability in footwear and Testing methods for Evaluation of Performance) to create the first comprehensive ecodesign framework tailored to the sector. The project is funded by the European Union’s Horizon Europe Research and Innovation Programme and will run from June ...
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Tutto Piccolo goes into liquidation
The Spanish childrenswear brand Tutto Piccolo has been put into liquidation by an Alicante-based commercial court in the wake of a voluntary insolvency proceeding, according to the media outlet Alicante Plaza. In October 2025, the company introduced a rotating temporary layoff scheme affecting 80 percent of its workforce, which ended ...
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News briefs
Saks Global bankruptcy restructuring cleared by a US court
Saks Global Enterprises said that on June 5 it received approval of its Plan of Reorganization from the US Bankruptcy Court for the Southern District of Texas. The Plan gained support across the capital structure from participating creditors, the overwhelming majority of which voted in favor. ”Confirmation of the plan ...
