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REUTERS/Toby Melville 1/4 left right Gina Miller (C) arrives at the Supreme Court to hear the decision of a court ruling on whether Theresa May's government requires parliamentary approval to start the process of leaving the European Union, in Parliament Square, central London, Britain, January 24, 2017. REUTERS/Stefan Wermuth 2/4 left right A man waves a European Union flag outside the Supreme Court before the decision of a court ruling on whether Theresa May's government requires parliamentary approval to start the process of leaving the European Union, in Parliament Square, central London, Britain, January 24, 2017. REUTERS/Stefan Wermuth 3/4 left right Members of the media stand outside the Supreme Court as they await the decision of a court ruling on whether Theresa May's government requires parliamentary approval to start the process of leaving the European Union, in Parliament Square, central London, Britain January 24, 2017. REUTERS/Toby Melville 4/4 LONDON The UK Supreme Court ruled on Tuesday that Prime Minister Theresa May must get parliament's approval before she begins Britain's formal exit from the European Union. The UK's highest judicial body dismissed the government's argument that May could simply use executive powers known as "royal prerogative" to invoke Article 50 of the EU's Lisbon Treaty and begin two years of divorce talks. However, the court rejected arguments that the UK's devolved assemblies in Northern Ireland, Scotland and Wales should give their assent before Article 50 is invoked. "The referendum is of great political significance, but the Act of Parliament which established it did not say what should happen as a result," said David Neuberger, President of the Supreme Court which ruled by 8-3 against the government. "So any change in the law to give effect to the referendum must be made in the only way permitted by the UK constitution, namely by an Act of Parliament." May has repeatedly said she would trigger Article 50 before the end of March but she will now have to seek the consent of lawmakers first, potentially meaning her plans could be amended or delayed, although the main opposition Labour Party has said it would not slow her timetable. Last week May set out her stall for negotiations, promising a clean break with the world's largest trading block as part of a 12-point plan to focus on global free trade deals, setting out a course for a so-called "hard Brexit". Sterling initially rose on the news that the government had lost its appeal, but it then fell over half a cent to hit day's lows against the dollar and euro after the court ruled that Britain's devolved assemblies did not need to give their assent to triggering Article 50. Sterling last traded down 0.6 percent on the day at $1.2463.
PVH, -2.78% announced today that it has entered into an agreement to acquire the licensed Tommy Hilfiger mens tailored clothing business for North America from Marcraft Clothes, Inc. Marcraft operates the business under license from Tommy Hilfiger Licensing LLC, a wholly owned subsidiary of PVH. As part of the transaction, PVH will acquire certain assets related to the licensed business and the license agreement would be terminated effective December 31, 2017. PVH intends to consolidate the North America mens tailored businesses for all of its brands under one partner, Peerless Clothing International, Inc., beginning January 2018. Terms of the transaction were not disclosed. Emanuel Chirico, Chairman and CEO of PVH said, We thank the Marcraft team for its partnership and for building a successful mens tailored clothing business for the Tommy Hilfiger brand in North America. However, we believe it best serves the needs of our Company and brands to have all of the mens tailored businesses under the direction of one partner. We believe our longstanding relationship with Tommy Hilfiger and PVH has allowed us to drive the growth of the Tommy Hilfiger mens tailored business in North America and our overall business over the last eight years, said Gary Brody of Marcraft. We believe the expertise เสื้อผ้าแฟชั่นเกาหลี we have developed will serve us well as we continue to operate our other existing businesses and identify future opportunities for growth, said Jeffrey Brody, of Marcraft. About PVH Corp. With a history going back over 130 years, PVH has excelled at growing brands and businesses with rich American heritages, becoming one เสื้อผ้า แฟชั่น ราคา ถูก ประตูน้ํา of the largest apparel companies in the world.We haveover 30,000 associates operating in over 40 countries and over $8 billion in annual revenues.We ownthe iconic Calvin Klein , Tommy Hilfiger , Van Heusen , IZOD , ARROW , Speedo* , Warners and Olga brands, and market a variety of goods under these and other nationally and internationally known owned and licensed brands. *The Speedo brand is licensed for North America and the Caribbean in perpetuity from Speedo International, Limited.
For the original version including any supplementary images or video, visit http://www.marketwatch.com/story/pvh-corp-to-acquire-tommy-hilfiger-mens-tailored-clothing-business-for-north-america-from-marcraft-2017-01-24
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