The former CEO of Molton Brown is set to take the reins of The Body Shop in a deal aimed at preserving 133 stores.

FRP administrators announced the sale of The Body Shop to a consortium led by cosmetics mogul Mike Jatania, following weeks of exclusive negotiations.

Charles Denton, who previously led Molton Brown, will step in as the new chief executive.

This move is anticipated to safeguard over 1,000 jobs, with Mr. Jatania’s investment company, Aurea, reportedly having no immediate intentions to shut down additional stores. The Body Shop currently has 1,300 employees on its payroll.

According to insiders, the new owners may explore relocating some existing stores to better sites across various cities and towns.

This agreement comes after months of turmoil surrounding the retailer’s collapse in February, which led to the closure of more than 80 locations.

The Body Shop went into administration shortly after it was acquired by the private equity firm Aurelius for £207 million last November.

That deal placed The Body Shop’s valuation considerably below the €1 billion (£870 million) its former owner Natura had paid for the company in 2017.

At the time of the administration, reports suggested that The Body Shop’s financial situation was worse than anticipated.

In April, The Telegraph revealed that the collapse was triggered after HSBC withdrew a credit line, and the new private equity owners were unable to secure alternative financing.

Financial insiders initially speculated that Aurelius would be the leading bidder to buy the business out of administration, likely free from its previous debt.

Before the insolvency, Aurelius was listed as The Body Shop’s main creditor.

However, the auction drew multiple interested bidders, including Mr. Jatania’s company Aurea and the restructuring firm Gordon Brothers, which is led by former Mothercare CEO Mark Newton-Jones.

In a statement released late on Friday, Aurea described the acquisition of The Body Shop as its “largest transaction to date,” though it did not disclose the financial specifics.

Aurea highlighted that The Body Shop is a “truly iconic brand with deeply engaged consumers in more than 70 markets worldwide.”

The firm expressed its intent to rebuild the business and “reclaim its global leadership in the ethical beauty sector it pioneered.”

The Body Shop was founded in 1976 by Anita Roddick, and from its inception, it championed the sale of natural, cruelty-free cosmetics.

Other retailers, such as Lush and Rituals, have since emulated The Body Shop’s approach to ethical beauty products.

Under Aurea’s ownership, Mr. Jatania stated that The Body Shop would invest in innovative new products and its physical stores, all while “honoring the brand’s ethical and activist positioning.” Mr. Jatania will serve as executive chairman of the company.

Mr. Jatania built his wealth by acquiring and revitalizing struggling beauty brands. He previously sold Lypsyl, a lip balm manufacturer, to competitor Li & Fung for nearly $200 million (£156 million) in 2013.

FRP highlighted the new owners’ “long track record of successful retail turnarounds.”

Mr. Denton acknowledged the challenges ahead, saying: “Revitalizing the business will require bold action and a consumer-first, commercially agile mindset.”

He also expressed confidence in the future, adding: “We believe there’s a sustainable path forward, and by working closely with the management team, we aim to restore The Body Shop’s unique, values-driven, independent spirit.”

Steve Baluchi, a director at FRP, praised the new owners, noting they “recognize the significant value of the brand’s household name and have a clear vision for its future.”

Stellantis, the parent company of Chrysler, has announced a recall of Ram 1500 pickup trucks from model years 2019 and 2021-2024 due to a software issue in the anti-lock brake system.

According to a notice from the National Highway Traffic Safety Administration (NHTSA), the software glitch could cause the anti-lock brake system to “disable the electronic stability control system,” which may increase the risk of a crash.

The recall affects approximately 1.46 million vehicles globally, with the majority located in the US. So far, there have been no reports of injuries or accidents linked to the issue.

If the malfunction occurs, drivers may notice warning lights for the ABS, ESC, Adaptive Cruise Control, and Forward Collision Warning illuminate upon starting the vehicle.

The NHTSA states that recall notices will be mailed to affected owners in early October. To resolve the issue, truck owners will need to take their vehicles to a dealership for an update to the ABS control module software.

As it stands, the affected trucks do not meet federal motor vehicle safety standards for electronic stability control systems.

US Steel is warning of potential mill closures if the Biden administration prevents its sale to Japanese company Nippon Steel.

Meanwhile, Cleveland Cliffs, a competitor, has offered to purchase those mills from US Steel if President Joe Biden blocks the deal.

This week, US Steel announced it may have to shut down mills represented by the United Steelworkers (USW) union unless it secures the $2.7 billion in investments promised by Nippon Steel as part of its proposed $14.3 billion acquisition.

However, both the Biden administration and the USW oppose the deal, preferring that the steelmaker remain under American ownership.

The union has expressed doubts about Nippon Steel’s commitments, noting that the Japanese company has no contract with the USW.

Sources have informed that Biden is likely to block the deal on national security grounds, with an announcement expected as soon as next week.

Cleveland Cliffs previously made an unsolicited $8.3 billion cash and stock offer for US Steel last year, which had the support of the union but was rejected by US Steel.

The nation’s automakers also opposed the Cleveland Cliffs deal, arguing that it would give one company control over 65% to 90% of the steel used in vehicles.

Instead, they backed the Nippon Steel deal. However, this opposition could diminish if the alternative is the closure of the mills.

Cleveland Cliffs has confirmed it has the necessary financing to purchase the integrated steel mills at risk, which produce steel from raw materials.

While the White House has not commented on whether it will block the Nippon Steel deal, Biden has previously expressed criticism of the transaction, as have Vice President Kamala Harris, former President Donald Trump, and his running mate, J.D. Vance.

Cleveland Cliffs CEO Lourenco Goncalves welcomed reports that the deal may be stopped, though no official confirmation has been made.

Goncalves condemned US Steel’s threats to shut down production, lay off union workers, and relocate its headquarters from Pittsburgh if the sale does not proceed.

“This is a pathetic blackmail attempt on the United States government and the Commonwealth of Pennsylvania,” Goncalves said. “Our government’s swift action demonstrates that such shameless behavior will never be tolerated.”

Volkswagen’s management confronted workers on Wednesday, urging shared responsibility to address the company’s ongoing crisis. The German automotive giant is facing difficulties and has hinted at potential plant closures in Germany, a measure that was previously dismissed.

Workers protested at a town hall meeting, expressing their dissatisfaction with management, and holding banners that criticized leadership for past mistakes. Volkswagen CEO Oliver Blume acknowledged the emotional toll of the current situation and emphasized the significant changes in the automotive industry, stressing the need for collective action to restore profitability.

Volkswagen CFO Arno Antlitz highlighted the financial challenges facing the company, noting that it has been spending more than it earns. He pointed to a decline in annual vehicle sales in Europe, with about 2 million fewer cars being sold each year compared to pre-pandemic levels.

With Volkswagen controlling about 25% of the European market, this translates to a loss of around 500,000 vehicles annually, equivalent to the output of two of its plants. Antlitz urged the company to focus on improving cost efficiency and productivity, particularly at its German sites, warning that the next one to two years would be critical for the company’s turnaround.

The Works Council and IG Metall, the union representing workers, expressed strong opposition to management’s potential plans, particularly the threat of plant closures and job cuts. Daniela Cavallo, a prominent member of the General Works Council, criticized the management’s approach, calling it a “declaration of bankruptcy” and warning that the entire business model could be at risk if such drastic measures were taken.

Cavallo urged Volkswagen to develop a plan that avoids factory closures in Germany, reflecting the deep divisions between leadership and the workforce.

The tension at Volkswagen comes amid broader economic difficulties for the company, as it grapples with increased competition and the industry’s transition to electric vehicles. Volkswagen’s stock has fallen by over a third in the last five years, and its market environment remains challenging.

The company is under pressure to navigate the shift to electric cars while maintaining its position in the European market, all while facing rising frustration from employees over potential job losses and restructuring plans.

Volkswagen’s CEO, Oliver Blume, is seen as a more pragmatic leader compared to his predecessor, with industry experts suggesting he may be able to ease the resistance from workers and unions. However, the challenge remains significant as both sides understand the need for adaptation, though the process for reaching an agreement is uncertain.

The broader economic context, including negative business sentiment in Germany’s automotive industry, adds further strain on Volkswagen’s efforts to stabilize and return to profitability. German Chancellor Olaf Scholz has also taken an interest in the situation, closely monitoring developments between management and the workforce.

Shein and Temu, two Chinese-based e-commerce platforms, are facing potential investigation by the US government over concerns regarding the safety of products sold for babies and toddlers on their sites.

The Consumer Products Safety Commission (CPSC) officials, Peter Feldman and Douglas Dziak, have expressed their worries about the companies’ compliance with US safety standards. In an open letter, the commissioners cited media reports that suggest unsafe children’s products are easily accessible on these platforms and called for a closer examination.

One of the main issues highlighted by the CPSC officials is the use of the “de minimis” rule by Shein and Temu. This rule exempts shipments valued at $800 or less from tariffs, and both platforms frequently sell low-cost items that fall within this range.

The commissioners want to investigate how these companies manage product safety, their partnerships with third-party sellers, and the claims they make when importing goods, particularly considering the potential loopholes this rule might create.

Shein responded to the concerns by asserting that customer safety is a top priority and that it has invested significant resources into strengthening its compliance measures. Temu similarly stated that it requires all sellers to follow product safety laws and regulations. Both companies aim to reassure consumers that they are committed to maintaining safety and regulatory compliance in light of the growing attention on their practices.

As the popularity of Shein and Temu grows in the US, they are increasingly scrutinized not just for safety but also for their ability to sell products at such low prices. This has raised questions about the transparency of their operations and the environmental impact of their business models, with concerns that the rapid growth of these platforms could be contributing to harmful practices or unchecked risks.

Further complicating the situation, Shein and Temu were previously mentioned in a US congressional report that linked them to a range of potential issues. These included forced labor, exploitation of trade loopholes, product safety hazards, and intellectual property theft. These past allegations, combined with the current safety concerns, have prompted US officials to push for a deeper investigation into their business practices and ethics.

Donald Trump’s social media venture, Trump Media & Technology Group (TMTG), which owns Truth Social, has seen its significant stock market gains vanish due to a sharp sell-off. The company’s stock, which had surged earlier this year, dropped below $17 per share, erasing the remarkable gains it experienced since January. Although Trump holds a majority stake valued at $2 billion, this is a substantial decrease from its $4.9 billion value in March.

The financial performance of TMTG has been underwhelming, with the company generating only $4.13 million in revenue in 2023 while suffering a loss of $58.2 million. Additionally, Truth Social, the social media platform launched by TMTG, has shown sluggish growth.

Research indicates that the platform had just 7.7 million visits in March, a stark contrast to the 6.1 billion visits garnered by X (formerly Twitter) during the same period. Despite this, TMTG was valued at nearly $10 billion in the stock market in March.

Trump faces potential financial challenges due to ongoing civil trials, which could result in significant penalties, impacting his personal wealth. Nevertheless, Trump Media has dismissed any speculation that Trump might sell his shares in TMTG, asserting that there are no indications of such plans. Trump has also returned to X, after initially abandoning it following his ban, participating in a lengthy interview with Elon Musk.

The stock market surge of TMTG was fueled by its emergence as a “meme stock,” akin to other volatile stocks like GameStop. The company caught the attention of retail investors who drove up its stock price through a wave of online memes, many of which were circulated on Truth Social itself. This phenomenon led to a dramatic increase in trading volume for Digital World Acquisition Corp, the shell company set to merge with TMTG.

However, the excitement surrounding TMTG’s stock was short-lived. After Digital World and TMTG finally merged in March, the initial surge was followed by a rapid decline, reminiscent of the dramatic rises and falls seen with other meme stocks like GameStop and AMC Entertainment. This pattern underscores the volatility and risk associated with such stocks, which can experience explosive growth followed by significant crashes.

Oregon’s innovative 2020 drug decriminalization law, which was the first of its kind in the United States, officially ended on Sunday. This pioneering measure decriminalized the possession of small amounts of hard drugs by reducing penalties to a ticket and a maximum fine of $100. The aim was to move away from punitive measures and instead focus on providing treatment and support for individuals struggling with drug addiction.

Starting Sunday, the new legal framework reclassifies the possession of personal-use quantities of illicit drugs as a misdemeanor. Offenders now face up to six months in prison, marking a return to more traditional criminal penalties. The revised law also includes stricter controls on public drug use and imposes harsher penalties for drug dealing in parks, indicating a tougher stance on drug-related offenses.

The new legislation, passed in March, revises the 2020 ballot measure that had been approved by 58 percent of Oregon voters. The original measure was intended to reform the criminal justice system and prioritize treatment over incarceration for drug users. Supporters had argued that imprisonment was ineffective in addressing drug abuse and that treatment should be the primary response.

Despite the good intentions, the execution of the 2020 law faced significant challenges. State auditors found that the system struggled to establish new addiction treatment programs, particularly in the face of the fentanyl crisis and ongoing COVID-19 disruptions. As a result, the state did not achieve the anticipated improvements in addiction services, prompting the shift back to more conventional legal approaches.

The new law aims to enhance treatment options by encouraging counties to create diversion programs for those apprehended for drug-related offenses. However, there are concerns that this approach could lead to disparities and confusion, as relying on counties to develop these programs may result in an uneven application of justice.

While $20 million in grants is being distributed to support these efforts, some leaders, like Republican Minority Leader Jeff Helfrich, worry that the rush to implement these programs could ultimately hinder their effectiveness and set individuals up for failure.

The long-awaited United Nations-led campaign to vaccinate children in Gaza against polio officially commenced on Sunday, following a preliminary distribution of vaccines to infants on Saturday.

The UN’s agency for Palestinian refugees (UNRWA) has set an ambitious goal to immunize 640,000 children in Gaza, targeting over 90% of those under the age of 10. This large-scale vaccination effort is made possible by a series of temporary pauses in fighting agreed upon by Israel.

UNRWA, which plays a crucial role in Gaza, has been working to manage and facilitate the vaccination drive. However, there are significant challenges. Palestinian health officials have highlighted the necessity of a full ceasefire for the campaign to be successful, emphasizing that the virus can cross borders and reach any location.

Deputy Health Minister Yousef Abu Al-Reesh has stressed the need for international support and a lasting ceasefire to ensure that all targeted children can receive their vaccines safely.

The vaccination campaign is planned to occur in three phases, each spanning three days from September 1 to September 12. Despite the preparations, there are concerns about whether the Israeli military will uphold the agreed pauses in fighting. The Israeli Defense Forces (IDF) are known for pursuing Hamas targets even during temporary ceasefires, raising doubts about the campaign’s smooth execution.

UNRWA’s Commissioner-General Philippe Lazzarini has underscored the urgency of the campaign, calling for respect for the temporary pauses to reach the children in need. Similarly, WHO Director-General Tedros Adhanom Ghebreyesus has emphasized the importance of peace for the success of the vaccination efforts, highlighting that the ultimate goal is to protect children through both vaccines and a lasting ceasefire.

The resurgence of polio in Gaza reflects the severe impact of ongoing conflict, as the virus reappeared in sewage samples earlier this year and a baby recently contracted the disease for the first time in 25 years.

Prior to the conflict, Gaza had nearly universal polio vaccine coverage, but this has now fallen below 90%. Polio, a highly infectious disease with no cure, primarily affects young children and can lead to severe health complications or death if not prevented through immunization.

As Asian markets begin the new trading month, investor sentiment is notably positive, buoyed by hopes for a ‘soft landing’ in the U.S. economy and a more dovish outlook from the Federal Reserve. This optimism is expected to enhance risk appetite and increase interest in emerging market assets.

The recent decline in the U.S. dollar, coupled with falling bond yields and a rebound in global equities, has eased financial conditions significantly, encouraging a cycle of growing investor confidence.

Recent U.S. economic data has been promising, with growth surpassing forecasts and inflation showing signs of easing. This backdrop, alongside an upcoming Fed easing cycle and a robust Q2 earnings season, suggests a favorable ‘Goldilocks’ scenario. However, there’s a cautionary note regarding the potential for complacency, as market volatility can still arise unexpectedly, reminiscent of the August 5 volatility shock.

China’s economic data for August, released in the form of the official Purchasing Managers Index (PMI), revealed troubling trends. Factory activity has dropped to a six-month low, and deflationary pressures are increasing, highlighting a pressing need for stimulus.

Manufacturing activity has contracted for the fourth consecutive month, while service sector growth remains minimal. The composite PMI, at 50.1, indicates nearly stagnant economic conditions.

The forthcoming ‘unofficial’ Caixin PMI index is anticipated to show slight improvement, moving to 50.0 from 49.8, suggesting marginal growth in manufacturing. Additionally, PMIs from other Asian economies like Japan, India, Australia, and South Korea will be closely monitored. The yuan’s strength against the U.S. dollar is also notable, reflecting growing corporate demand and anticipated U.S. rate cuts.

Despite lighter trading volumes due to U.S. markets being closed for Labor Day, the overall financial environment remains supportive. Goldman Sachs reports that emerging market financial conditions are at their lowest in over a year, with U.S. and global conditions also at extended lows.

The S&P 500 and MSCI indices have shown strong performance, suggesting a generally positive outlook for Asian markets. Key developments to watch include August PMIs from China and Japan, Indonesia’s inflation data, and Australia’s Q2 company profits.

In August, South Korea experienced its 11th consecutive month of rising exports, though the growth rate slowed compared to previous months and fell short of market expectations. Exports increased by 11.4% year-on-year, reaching $57.90 billion. This was a deceleration from July’s 13.9% growth, which had been the fastest in six months, and also missed the anticipated 13.0% increase forecasted by economists.

The slowdown in growth was largely attributed to reduced demand for semiconductor exports, which hit a five-month low, and a continued decline in auto sales. The automotive sector faced challenges including wage negotiations and factory upgrades, contributing to a third straight month of sluggish performance.

Export performance varied by destination; while shipments to China grew at a slower rate, exports to the United States increased more rapidly. Notably, exports to the European Union surged by 16.1%, breaking a six-month streak of declines and setting a record high of $6.4 billion.

Despite the slower growth, South Korea’s exports are on track for a record-high performance for the year, according to Trade Minister Ahn Duk-geun. Imports also rose by 6.0% in August, totaling $54.07 billion, slightly under the expected 6.3% increase. This resulted in a trade surplus of $3.83 billion, a slight improvement from July’s $3.60 billion surplus.

A recent study published in *Pediatrics* on August 6 highlights that sexual- and gender-minority (SGM) students have a higher prevalence of binge drinking compared to their peers.

This study, led by Meg D. Bishop, Ph.D., from the University of Maryland, analyzed data from nearly a million secondary school students who participated in the California Healthy Kids Survey between 2017 and 2019.

The study assessed binge drinking rates over the past 30 days among students of various grade levels, racial and ethnic backgrounds, and sexual orientations or gender identities. The findings revealed that differences in binge drinking related to SGM status emerged early in secondary school, with certain subgroups of SGM students reporting significantly higher rates compared to their white, non-SGM counterparts.

Specifically, SGM adolescents belonging to minoritized racial and ethnic groups were found to have higher binge-drinking rates than their same-grade, white non-SGM peers. This suggests that the intersection of sexual orientation, gender identity, and racial or ethnic minority status may contribute to an increased risk of binge drinking among these students.

The study’s authors emphasize the need for developmentally and culturally appropriate prevention and intervention strategies to address these disparities.

They advocate for programs and policies developed in collaboration with community members, which focus on intersectional stigma, inclusive education, healthcare access, and cultural diversity within family contexts, as essential steps toward reducing the higher rates of binge drinking among SGM students.

Mark Boucot, president of Potomac Valley Hospital in Keyser, West Virginia, is preparing to install signs at his facility stating that committing a violent act against healthcare workers is a federal crime.

Boucot made this announcement during a press conference held by the American Hospital Association (AHA) and the American College of Emergency Physicians (ACEP). He expressed his readiness to display these signs as a step towards reinforcing protections for healthcare workers.

Several speakers at the press conference advocated for the Safety From Violence for Healthcare Employees Act, also known as the SAVE Act. This proposed legislation aims to make it a federal crime, punishable by up to 20 years in prison, to physically assault a healthcare worker. The bill also includes provisions for exceptions related to disabilities and mandates a Government Accountability Office study on the law’s effectiveness.

Senator Joe Manchin, the bill’s chief sponsor, highlighted the need for similar federal protections for healthcare workers as those provided to workers in aviation and airport industries. He emphasized that the bill seeks to ensure minimum protections without overriding existing state laws. Despite a politically divided Congress, the bill has garnered substantial bipartisan support.

James Phillips, an emergency physician, highlighted the growing issue of violence in healthcare settings, particularly in emergency departments. He pointed out that the increase in violence is contributing to burnout among healthcare professionals and shared personal experiences of violence, including an incident where he was exposed to potential hepatitis C.

Boucot also noted that the rise in methamphetamine abuse is exacerbating violence against healthcare workers. He described incidents at his hospital involving physical assaults on staff, stressing that the current legal framework is inadequate. Chad Golder, general counsel for the AHA, agreed, arguing that a federal law would provide a more effective deterrent and centralized enforcement.

While awaiting the bill’s progress, hospitals are proactively addressing the issue through training programs. Indiana University Health West Hospital, for example, has implemented a “Handle With Care” program to teach staff de-escalation techniques and self-defense. Boucot’s hospitals have established a workplace violence task force to educate and reinforce the message that workplace violence is unacceptable.

The FDA uses warning letters to enforce compliance with regulations for regulated entities. These letters might not be publicly available for weeks or months following their issuance. Companies are given a 15-day window to respond, with the letters typically being sent only after the company has had an extended period—ranging from months to years—to resolve the issues.

Recently, the FDA issued a warning letter to Greenfruit Avocados LLC based in Newport Beach, California, on July 8, 2024. This action followed several inspections, the latest of which occurred from January 16-18, 2024.

The warning letter highlighted serious violations of the Foreign Supplier Verification Program (FSVP) regulations, which ensure that imported foods meet U.S. safety standards. Specifically, the FDA found that Greenfruit Avocados failed to properly evaluate and approve foreign suppliers and did not establish or adhere to written procedures for importing foods from these suppliers.

The key violations identified for Greenfruit Avocados included a lack of proper supplier approval and failure to establish written procedures. The company did not comprehensively evaluate the performance of its avocado growers, focusing only on packers, which is insufficient under FSVP regulations.

Additionally, Greenfruit Avocados did not have written procedures to ensure compliance with FSVP requirements and did not follow their own outlined procedures for evaluating suppliers.

In response, the FDA has requested Greenfruit Avocados to submit detailed corrective actions, including revised FSVP procedures and records of supplier evaluations.

If the company fails to address these issues adequately, it may face further enforcement actions, such as refusal of admission of its products into the U.S. market or detention without physical examination, which would prevent its products from being imported until compliance is demonstrated.

Similarly, Key Foods Co., operating as Key Food Services in Alsip, Illinois, received a warning letter from the FDA on June 27, 2024, following inspections conducted in April 2024 and April 2023. The FDA found that Key Foods Co. had failed to develop, maintain, and follow an FSVP for several imported food products.

This omission means the company did not perform the necessary risk-based activities to verify that these foods met U.S. safety standards. The FDA has required Key Foods Co. to take corrective actions by developing and implementing FSVPs for all imported foods and providing documentation to demonstrate compliance with FSVP requirements.