
L'Oreal to Buy Majority Stake in UK Skincare Brand Medik8
L'Oreal SA agreed to buy a majority stake in the UK company Medik8 as the French cosmetics group strengthens its presence in the booming skincare market.
The private equity firm Inflexion will keep a minority stake as part of the deal while the current management will stay on, L'Oreal said Monday without disclosing financial details.

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New York Times
38 minutes ago
- New York Times
European Union Unveils Fresh Sanctions on Russia, Including a Nord Stream Ban
The European Union's executive arm unveiled its latest package of sanctions against Russia, aiming to apply pressure to President Vladimir V. Putin by damaging the nation's energy and banking sectors. The sanctions proposed on Tuesday — which still need to be debated and passed by member states — would ban transactions with the Nord Stream pipelines, hoping to choke off future flows of energy from Russia into Europe. They would lower the price cap at which Russian gas can be purchased on global markets, hoping to chip away at Russian revenues. And they would hit both Russian banks and the so-called 'shadow fleet,' old tanker ships, often registered to other countries or not registered at all, that Moscow uses to covertly transport and sell its oil around the world to skirt energy sanctions. The new measures would blacklist a new batch of ships that are being used in this way. The proposal is the 18th sanctions package to come out of Brussels since Russia's full-scale invasion of Ukraine. Taken as a whole, the measures are a sweeping effort to threaten Russian economic might and morale at a critical juncture in the war. The announcement comes as peace talks between Russia and Ukraine stall. Despite pressure from the Trump administration to work toward a cease-fire, the latest round of talks between the two sides, earlier this month in Istanbul, created little result outside of another agreement to swap prisoners. Want all of The Times? Subscribe.


News24
42 minutes ago
- News24
Uber to launch driverless taxis in London next year
For more financial news, go to the News24 Business front page. Ride-hailing firm Uber will launch self-driving taxis in London next year when England trials new driverless services, the firm and the UK government said on Tuesday. Under the Uber pilot scheme, services will initially have a human in the driver's seat who can take control of the vehicle in an emergency, but the trials will eventually transition to being fully driverless. The government announcement will see companies including Uber allowed to trial commercial driverless services without a human presence for the first time in the UK. They will include taxis and "bus-like" services. Uber CEO Andrew Macdonald described London's roads as "one of the world's busiest and most complex urban environments". "Our vision is to make autonomy a safe and reliable option for riders everywhere, and this trial in London brings that future closer to reality," he said. Members of the public will be able to book the transport via an app from spring 2026, ahead of a potential wider rollout when new legislation -- the Automated Vehicles Act -- becomes law from the second half of 2027, the Department for Transport added. The technology could create 38 000 jobs, add £42 billion ($57 billion) to the UK economy by 2025, and make roads safer, it said. "The future of transport is arriving. Self-driving cars could bring jobs, investment, and the opportunity for the UK to be among the world-leaders in new technology," Transport Secretary Heidi Alexander said. "We can't afford to take a back seat on AI…. That's why we're bringing timelines forward today," added Technology Secretary Peter Kyle. The wider rollout will also allow the sale and use of self-driving, private cars. Driverless vehicle trials have been under way in the UK since January 2015, with British companies Wayve and Oxa "spearheading significant breakthroughs in the technology", the ministry said. "These early pilots will help build public trust and unlock new jobs, services, and markets," said Wayve CEO Alex Kendall. According to the government, the forthcoming legislation will require self-driving vehicles to "achieve a level of safety at least as high as competent and careful human drivers". "By having faster reaction times than humans, and by being trained on large numbers of driving scenarios, including learning from real-world incidents, self-driving vehicles can help reduce deaths and injuries," it said. Driverless taxis with limited capacity are already on the roads in the United States and China, most notably in the central Chinese city of Wuhan, where a fleet of over 500 can be hailed by app in designated areas.


Forbes
42 minutes ago
- Forbes
Circle Stock To $300?
Representation of cryptocurrency and Circle logo displayed on a screen in the background are seen in ... More this illustration photo taken in Krakow, Poland on June 10, 2022. (Photo by Jakub Porzycki/NurPhoto via Getty Images) Circle Internet Group Inc (NYSE: CRCL), the issuer of the USDC stablecoin, has rapidly emerged as one of the market's most watched stories following its IPO. Currently trading around $115 — a significant increase from its IPO reference price of $31 — the company has attracted substantial institutional support and increasing public interest from investors. With the crypto-fintech sector gaining momentum and regulatory clarity becoming more apparent, many are now asking: could Circle ultimately reach $300 per share? Circle's current primary revenue source is derived from the yield produced by the reserves supporting USDC, which now has a circulating supply close to $60 billion. These reserves, mainly invested in short-term U.S. Treasuries, generate dependable, scalable interest income — providing a foundational revenue stream. In 2024, Circle reported over $1.5 billion in revenue, primarily from interest earned on these reserves. If USDC's circulation grows to $150–200 billion over the next three to five years — a feasible scenario given the surge in global demand for stablecoins — Circle's reserve income alone could reach $4–5 billion annually. In addition to passive income, Circle's product roadmap features enterprise-grade APIs for programmable payments, digital identity layers, FX rails, and on-chain treasury services. This infrastructure-first strategy positions Circle similarly to a 'Stripe for digital dollars.' With substantial traction in these services, Circle could generate $2–3 billion in additional revenue from software-like recurring sources. Combining this with reserve yield, total revenue could grow to $6.5–8 billion annually within five years. Circle's capital-light operational model allows it to scale profitably. Despite high partner distribution expenses — such as payments to Coinbase — its underlying margin profile remains robust. Over time, net margins in the range of 25–30% are likely as the business diversifies and gains more control over customer relationships. If net income reaches $1.8–2.4 billion, and Circle holds 300–350 million shares outstanding post-IPO, the company could achieve earnings per share (EPS) in the $6.00–8.00 range. At a price of $300 per share, Circle would have a market capitalization in the range of $45–50 billion. This would correspond to a price-to-earnings multiple of 40–50x, which is in line with the valuation of rapidly growing, high-margin fintech platforms — especially those developing enterprise infrastructure (e.g., Stripe, Adyen, or legacy Visa during its earlier growth phase). In this situation, Circle would be valued not just for growth, but for being a unique crypto-native company with strong compliance, significant partnerships (e.g., BlackRock, Visa), and a pivotal role in the tokenization of real-world assets. A share price of $300 for Circle is not merely a bullish aspiration — it represents a goal that illustrates the company's desire to become the digital financial infrastructure layer of the internet. To achieve this, Circle must increase the circulation of USDC, enhance its platform services, and demonstrate its ability to generate stable earnings at scale — all while maintaining regulatory credibility. If this vision becomes a reality, Circle won't just be a stablecoin company — it will be a fundamental component of the financial system of the future. In such a landscape, a price of $300 may not signify overvaluation, but rather a fair valuation. Investing in a single stock like CRCL carries risks. Conversely, the Trefis High Quality (HQ) Portfolio, which contains 30 stocks, has consistently outperformed the S&P 500 over the past four years. What's the reason for this? Overall, HQ Portfolio stocks have provided higher returns with lower risk compared to the benchmark index, resulting in a less volatile experience, as shown by HQ Portfolio performance metrics.