AFP
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EU green lights Prada's bid for Versace
The EU on Tuesday cleared Italian fashion label Prada's 1.25-billion-euro ($1.5-billion) purchase of rival Versace after finding the acquisition raised no competition concerns. The European Commission said it concluded the purchase "would not raise competition concerns, given the companies' limited market positions resulting from the proposed transaction".
US tariffs on lumber imports set for October 14
US President Donald Trump on Monday set a slate of tariffs for lumber imports to go into effect October 14. In a proclamation, the White House imposed a "10 percent global tariff on imports of softwood lumber."
Stocks rise, gold hits record as rate cuts and shutdown loom
Equities rallied for a second day and gold hit another record Tuesday on growing Federal Reserve interest rate optimism, though traders were preparing for a possible US government shutdown that could affect the release of key economic data.
Anthropic launches new AI model, touting coding supremacy
US startup Anthropic on Monday announced the launch of its new generative artificial intelligence model, Claude Sonnet 4.5, which it says is the world's best for computer programming. In a key benchmark, Claude Sonnet 4.5, a new generation of language model, can operate autonomously for 30 hours straight once it is assigned a task.
Electronic Arts to be bought by Saudi-led consortium for $55 bn
Video game giant Electronic Arts, known for The Sims and FIFA games, announced Monday it would be acquired for $55 billion by a consortium led by Saudi Arabia's Public Investment Fund. FIFA was updated annually from 1993 to 2023, before Electronic Arts lost the license following a financial disagreement between EA and the FIFA organization.
TotalEnergies to boost output, cut $7.5 bn in costs
French group TotalEnergies on Monday announced plans to increase oil, gas and electricity production while cutting spending by $7.5 billion between 2026-2030. As part of its cost-cutting plan, the company will trim annual capital expenditures to $16 billion in 2026 and $15–17 billion between 2027 and 2030 -- about $1 billion less than previous guidance.
Jaguar Land Rover to partly resume output after cyberattack
Jaguar Land Rover on Monday said it will partially restart production in the coming days after a damaging cyberattack halted operations at its UK factories. "Some sections of our manufacturing operations will resume in the coming days," it added.
Germany's Lufthansa to slash 4,000 jobs as headwinds mount
Lufthansa said Monday it will cut 4,000 jobs, nearly four percent of the German airline giant's workforce, after profits slumped in the face of mounting headwinds.
GSK switches CEO as Trump tariffs test pharma
British pharmaceutical giant GSK on Monday said longtime chief executive Emma Walmsley will be replaced by its chief commercial officer in January, as the company navigates US tariffs on the sector.
AFP
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