By Bloomberg Published April 22, 2025 A high-stakes legal dispute has cast new light on the fortunes behind French luxury brand Hermès. A legal complaint filed in Washington, D.C. accuses 82-year-old Nicolas Puech—an heir to the Hermès dynasty—of failing to transfer shares worth approximately €14 billion ($16 billion) under a private agreement. Hermès International boutique…
Hi, all! Genevieve here, stepping in for Emily. Leading up to this tax day, it’s been an interesting few weeks that have caused me to stop checking my retirement account (deep breath) and to consider even more how much to spend on food. I was raised to be frugal and remain a lover of good…
By Bloomberg Published April 7, 2025 Bangladesh is looking to hold talks with the Trump administration in a bid to lessen the blow from a US decision to impose a 37% tariffs on goods that could devastate the country’s $40 billion garment export industry. Shutterstock Bangladesh is seeking ways to reduce its trade surplus with…
OpenAI said on Monday that it had completed a $40 billion fund-raising deal that nearly doubles the high-profile company’s valuation from just six months ago. The new fund-raising round, led by the Japanese conglomerate SoftBank, values OpenAI at $300 billion, making it one of the most valuable private companies in the world, along with the…
By Bloomberg Published March 30, 2025 Simon Wolfson, chief executive officer of Next Plc, on Thursday announced pretax profit of £1 billion ($1.3 billion) for the first time in the retailer’s history. It’s a level of earnings few British store chains reach. For some that have, it has been the prelude to a period of…
By Adnkronos Translated by Nicola Mira Published March 25, 2025 Negotiations between Prada and Capri Holdings for the Milanese luxury group’s acquisition of Versace could be concluded in a matter of weeks. According to rumours reported in the last few days by Italian business daily Il Sole 24 Ore, an April 10 deadline has been…
Swarovski, the Austrian crystal specialist, reported a 6% increase in 2024 revenue to €1.906 billion, as the family-owned company enjoyed a marked improvement in its business performance. Swarovski CEO Alexis Nasard “Swarovski’s turnaround is in full motion, with another year of major progress, including strong organic growth and significant improvements in EBIT and cash, driven…
SoftBank said on Wednesday that it had agreed to pay $6.5 billion for the Silicon Valley chip start-up Ampere Computing, doubling down on a bet that technology that originated in smartphones will come to dominate the world’s data centers. The deal also reflects the Japanese conglomerate’s belief that Ampere’s chips can begin to play a…
Google has agreed to buy Wiz, a fast-growing cybersecurity start-up, for $32 billion in the company’s biggest push to strengthen its cloud-computing business and expand beyond the search engine and consumer internet services that made it a household name. The all-cash deal, announced on Tuesday, would be Google’s largest, easily surpassing its $12.5 billion purchase…
By AFP Translated by Nazia BIBI KEENOO Published March 13, 2025 Inditex, Zara’s parent company, has once again set a new profit record, closing 2024 with its strongest financial performance to date. Despite a slight slowdown in growth, the fast-fashion giant continues to dominate the industry, even as competition intensifies. Zara in Liverpool – Zara…