Latest news with #PatrickKenny
Business Insider
10 hours ago
- Business
- Business Insider
ATB Capital Markets Keeps Their Hold Rating on Keyera Corp. (KEY)
ATB Capital Markets analyst maintained a Hold rating on Keyera Corp. (KEY – Research Report) today and set a price target of C$48.00. The company's shares closed today at C$44.04. Confident Investing Starts Here: In addition to ATB Capital Markets, Keyera Corp. also received a Hold from National Bank's Patrick Kenny in a report issued on June 20. However, today, CIBC maintained a Buy rating on Keyera Corp. (TSX: KEY). Based on Keyera Corp.'s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of C$1.94 billion and a net profit of C$88.91 million. In comparison, last year the company earned a revenue of C$2.21 billion and had a net profit of C$49.19 million
Yahoo
26-05-2025
- Business
- Yahoo
EU calls on Shein to respond to claims of fake discounts and pressure selling
The European Commission has given fast-fashion retailer Shein one month to respond to a probe into practices its regulator believes could potentially be breaching consumer law. Ireland's Competition and Consumer Protection Commission (CCPC) is co-leading the investigation which has called on the online marketplace to address several issues including allegations of fake discounts, pressure selling tactics and unclear information regarding customer rights. The CCPC said fake discounts potentially include pretending to offer better deals by showing price reductions that are not based on actual prior rates as required by EU law. It said other issues include using false deadlines to pressure consumers to purchase, displaying incomplete or incorrect information about consumer's rights on returns and refunds, deceptive product labels, misleading or deceptive claims about sustainability benefits, and making it difficult for consumers to contact Shein with questions or complaints. Information has also been requested to assess the company's compliance with further obligations including those around product rankings, ratings and reviews, and third-party sellers. The CCPC said Shein has now one month to propose commitments on how they will address the identified consumer law issues. The EU Commission probe is being conducted along with national consumer authorities in Belgium, France and the Netherlands. Depending on the company's reply, the EU consumer protection network may enter a dialogue with the retailer. If Shein fails to address the concerns, national authorities can investigate further and may take enforcement measures to ensure compliance, which may include fines based on its annual turnover in the relevant member states. Patrick Kenny, CCPC Commission member, said: 'Consumers should be allowed to shop without being put under pressure by fake deadlines or misled by fake discounts. 'They also need clear information about how consumers can contact the company, how to return an item and receive a refund. 'In this case, the CCPC and the CPC Network have identified several practices that could mislead consumers or undermine their consumer rights. 'E-retailers and online marketplaces have a legal obligation to provide transparent and honest information about the products they sell, and consumers' rights around returns. The CCPC takes any breaches of the law very seriously and looks forward to constructive engagement with Shein during the course of this investigation.' A spokesman for Shein said: 'We have been working constructively with national consumers' authorities and the EU Commission to demonstrate our commitment to complying with EU laws and regulations, and we are continuing to engage in this process to address any concerns. 'Our priority remains ensuring that European consumers can have a safe, reliable, and enjoyable online shopping experience.' Sign in to access your portfolio
Irish Independent
26-05-2025
- Business
- Irish Independent
Consumer authorities give Shein a month to address claims of fake discounts and pressure sales tactics
Potential breaches include showing price reductions that are not based on original prices and pressure tactics like using false deadlines to pressure buyers. The CCPC, along with the European Commission and consumer authorities in Belgium, France and The Netherlands has has asked Shein to rectify some of its practices and to propose ways to address them. A failure to comply may lead to penalties, including fines. The CCPC here also said customer should easily be able to reach Shein with complaints or to seek customer support, including easy to find contact details and that the retail is obliged to provide correct information about consumers' rights to return products and or to refunds. 'Consumers should be allowed to shop without being put under pressure by fake deadlines or misled by fake discounts,' said Patrick Kenny, CCPC Commission member, said. 'They also need clear information about how consumers can contact the company, how to return an item and receive a refund. In this case, the CCPC and the CPC Network have identified several practices that could mislead consumers or undermine their consumer rights. 'Online marketplaces have a legal obligation to provide transparent and honest information about the products they sell, and consumers' rights around returns.' The ongoing investigation, which is being carried out through the European Commission's Consumer Protection Cooperation (CPC) Network, is co-led by consumer authorities in the countries involved, including the CCPC. Singapore-headquartered Shein can now make proposals to address the concerns raised . If Shein fails to address the concerns, the national authorities can investigate further and potentially take enforcement measures, which may include fines based on its annual turnover in the each of the member states.
