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Audioboom shares fall after company ends sale talks

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Revolution Beauty and Debenhams agree beauty products licensing deal years after boardroom rows

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The beauty firm will develop and sell products across Debenhams’ range of brands including PrettyLittleThing and Karen Millen

A collection of Revolution Beauty products

A collection of Revolution Beauty products(Image: Daily Mirror)

Revolution Beauty has secured an agreement with shareholder Debenhams Group to produce beauty and fragrance lines, having “completely reset” relations years following a highly publicised boardroom dispute.

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The fresh licensing arrangement enables Revolution to create products across Debenhams’ portfolio of brands – complementing existing partnerships with retailers such as Boots and Superdrug.

Initial collections are anticipated to arrive before Christmas and will feature a selection of fragrance and gift items for brands PrettyLittleThing, Karen Millen and BoohooMan.

Additional launches are scheduled across Debenhams-owned labels and via its own retail platforms.

Tom Allsworth, chief executive of Revolution Beauty, said: “Since returning to the business last year, our relationship with Debenhams Group has been completely reset and it is gratifying to see that reflected in a formal partnership between the two businesses.

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“By combining the strength of Debenhams Group’s brands with Revolution’s expertise, we believe these licences can become a significant growth opportunity for both businesses.”

He noted that preliminary feedback on the product concepts tested had been “exceptionally positive”.

Under the arrangement, Revolution will handle development, manufacturing and distribution of its products, while paying Manchester-based Debenhams a royalty calculated on sales generated.

Debenhams Group, which underwent a rebrand from Boohoo Group last year, holds over a quarter of the shares in Revolution Beauty. The two firms became embroiled in a public dispute in 2023 over demands to replace Revolution’s leadership team.

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Tensions came to a head when Revolution defied a shareholder vote and reinstated its executives, before subsequently issuing share awards without seeking investor approval.

However, the company declared the matter resolved following the departure of former chief executive Bob Holt and chairman Derek Zissman.

Last year, the beauty business welcomed back co-founders Adam Minto and Mr Allsworth — who had previously stepped down amid a series of accounting issues — to spearhead a significant turnaround programme.

Revolution acknowledged that its financial performance under previous management had fallen short of expectations, with revenues declining sharply and losses deepening, though it expressed confidence in its ability to return to growth.

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Dan Finley, chief executive of Debenhams Group, said: “Beauty is one of the most compelling category opportunities available to us and Revolution Beauty has the capability and relationships to bring tailored collections to market across the full portfolio.

“We look forward to seeing the first launches come to life.”

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CHAT: AI Story Derailed By Macro Factors, Growth Story Remains Strong (NYSEARCA:CHAT)

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CHAT: AI Story Derailed By Macro Factors, Growth Story Remains Strong (NYSEARCA:CHAT)

This article was written by

Monte Independent Investment Research: Michael Del Monte is a buy-side equity analyst with expertise in the technology, energy, industrials, and materials sectors. Prior to working in the investment management industry, Michael spent over a decade in professional services working across industries that include O&G, OFS, Midstream, Industrials, Information Technology, EPC Services, and consumer discretionary.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Samsung Elec’s chip chief says he discussed next-generation foundry with Nvidia CEO

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Samsung Elec’s chip chief says he discussed next-generation foundry with Nvidia CEO


Samsung Elec’s chip chief says he discussed next-generation foundry with Nvidia CEO

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Thailand Files Historic Lawsuit Against Tech Giants and Banks Over 230M Baht Scam Losses

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Thailand Files Historic Lawsuit Against Tech Giants and Banks Over 230M Baht Scam Losses

Abstract

  • Thailand’s Consumers Council has filed a civil lawsuit against parent companies of four major technology platforms and nine commercial banks, seeking over 230 million baht in compensation for online investment scam victims. The case targets Meta, LINE, Apple, and Google for allegedly failing to prevent fraudulent advertisers and applications within their ecosystems.
  • The lawsuit outlines a scam operation that moved victims from deceptive Facebook ads through LINE groups to fraudulent investment apps, ultimately draining funds via bank mule accounts. A Civil Court hearing is scheduled for August 2026, with the council aiming to establish new legal precedent for platform accountability in Thailand.

BANGKOK — In a landmark legal move, the Thailand Consumers Council has filed a civil lawsuit against the parent companies of four major global technology platforms and nine commercial banks, seeking over 230 million baht in compensation for victims of sophisticated online investment scams. The case, filed on June 8, 2026, marks the first time Thai authorities have pursued liability directly against the overseas parent entities controlling platforms like Meta’s Facebook, LINE, Apple’s App Store, and Google’s Play Store.

The lawsuit targets a “full-cycle” scam operation where fraudsters allegedly exploited the ecosystems of these platforms and banks to defraud at least 10 consumers. The scheme reportedly began with deceptive advertisements on Facebook, often impersonating public figures, to lure victims into LINE messaging groups. From there, scammers persuaded victims to install fraudulent investment applications via the App Store and Play Store before funneling millions of baht into mule accounts held by front companies through the banking system.

“The council argues that the platforms had a duty to verify advertisers and users, as well as a duty of care to ensure digital safety, but failed to prevent repeated abuse of their systems,” said Saree Ongsomwang, secretary-general of the Office of the Thailand Consumers Council. She compared the situation to a shopping mall that allows fraudsters to operate inside without accepting responsibility for the resulting harm.

The legal action includes nine commercial banks accused of failing to detect unusual transaction patterns or suspend suspicious transfers despite their legal obligations to monitor financial risks. Among the initial group of claimants, one individual reportedly lost 165 million baht in a stock investment scam, while another lost over 3 million baht.

The Civil Court has scheduled its first case management hearing for August 3, 2026. The council hopes this lawsuit will set a new precedent for consumer protection in Thailand, forcing global digital platforms to strengthen safety standards and accept accountability for the damages suffered by Thai users who have increasingly lost faith in state agencies’ ability to provide remedies.

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Suniva to merge with SUNation in reverse merger deal

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Suniva to merge with SUNation in reverse merger deal

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Energy minister leaves door open to 'sneaky' mining energy plans

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Energy minister leaves door open to 'sneaky' mining energy plans

WA’s energy minister has left the door open to allowing miners to feed excess power into common user energy grids and non-mining infrastructure.

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Arcmont CEO says private credit fundamentals remain strong

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Arcmont CEO says private credit fundamentals remain strong

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BofA sees oil prices pushing Japan inflation higher, BoJ hawkish

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BofA sees oil prices pushing Japan inflation higher, BoJ hawkish

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Thailand Update: Major Highlights in Political, Economic, Tourism, and Social Affairs

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Asia's Industrial Supercycle awakens

Tourism faces reform as visa-free stays are cut for 90+ countries, including the US and UK, citing tourist misconduct, while a new THIM immigration app launches in August

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City Airport faces opposition to large jet plans

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City Airport faces opposition to large jet plans

A committee of the London Assembly wants London City Airport’s plans halted due to noise concerns.

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