Tiffany’s to pay Swatch $450m

Tue 24 Dec 2013 11:54 AM GST
A Dutch court has ordered New York-based jeweler Tiffany’s to pay watch company Swatch almost $449m following a failed joint venture to produce and market watches. A deal between the two was signed in 2007 but after a series of disagreements, the companies sued each other and the case went to arbitration in 2012.

(Source: euronews YouTube channel)