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Business
Prada buys Versace for $1.4 billion, in bid to relaunch sexier Milan rival
The Prada Group closed the purchase of Milan fashion rival Versace in a $1.375 billion cash deal that puts the fashion house known for its sexy silhouettes under the same roof as Prada’s “ugly chic” aesthetic and Miu Miu ’s youth-driven appeal. The highly anticipated deal is expected to relaunch… Read
Costco becomes biggest company yet to demand refund of Trump tariffs
Costco is joining other companies that aren't waiting to see whether the Supreme Court strikes down President Donald Trump's most sweeping import taxes. They're going to court to demand refunds on the tariffs they've paid. The U.S. Court of International Trade and the U.S. Court of Appeals for the Federal… Read
Japanese companies' pretax profits rise 19% in July-September
Pretax profits at Japanese companies in the July-September period rose 19.7 percent from a year earlier to 27.54 trillion yen, marking a fourth straight quarterly increase, driven by strong demand in the field of artificial intelligence, the Finance Ministry said Monday. Although pretax profits in the transportation equipment sector tumbled… Read
U.S. futures slip and Asian stocks are mixed, while oil prices surge more than $1 a barrel
U.S. futures fell and Asian shares began the week mixed, with Tokyo’s benchmark falling nearly 2% on Monday after the release of data showing weak factory activity. Oil prices surged more than $1 a barrel. In Japan, the Nikkei 225 declined 1.9% to 49,303.28 after the government reported weaker than… Read
China's factory activity contracts for 8th month in November despite trade war truce
China’s factory activity contracted for the eighth straight month in November, according to an official survey on Sunday, underscoring challenges for the country’s economy despite the U.S.-China trade truce. The official manufacturing purchasing managers index rose slightly to 49.2 in November from 49 in October, China’s National Bureau of Statistics… Read
Driven by TikTok trends, new beauty brands target children
Should children be using beauty face masks? Dermatologists say no, but a growing number of companies are targeting a new generation of kids who have grown up with TikTok skincare and make-up routines. The cosmetics industry and parts of the internet have been abuzz since the launch of Rini earlier… Read
Japan gov't task force starts talks on tighter crypto asset regulations
A task force under Japan's financial watchdog has begun discussions to tighten rules on crypto assets, including measures against insider trading and steps to protect users, as authorities seek to crack down on illicit deals amid growing demand for the assets as investment products. The working group of the Financial… Read
Shoppers spend billions on Black Friday to snag holiday deals, despite wider economic uncertainty
Despite wider economic uncertainty hovering above this year's holiday season, shoppers turned out in big numbers for Black Friday — spending billions of dollars both in stores and online. Adobe Analytics, which tracks e-commerce, said U.S. consumers spent a record $11.8 billion online Friday, marking a 9.1% jump from last… Read
How successful has OPEC+'s oil output policy been in 2025?
Ministers of the Organization of the Petroleum Exporting Countries and allied nations (OPEC+) are unlikely to make changes to their oil output strategy when they discuss production at an online ministerial meeting on Sunday. After years of slashing output to prop up prices, key members of the OPEC+ group, including… Read
Airlines cancel flights to adopt software fix for Airbus A320 after plane has sudden altitude drop
Airlines around the world reported short-term disruptions heading into the weekend as they fixed software on a widely used commercial aircraft, after an analysis found the computer code may have contributed to a sudden drop in the altitude of a JetBlue plane last month. Airbus said Friday that an examination of the JetBlue… Read
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