Economy
Italy's Prada agrees to buy rival Versace for 1.25 bn euros
Italian fashion house Prada announced Thursday it had reached a deal with US group Capri Holdings to buy its flashy rival Versace for 1.25 billion euros ($1.38 billion). In 2018, Capri paid 1.83 billion euros (then $2.1 billion) to acquire Versace, which was previously owned 80 percent by the Versace family and 20 percent by the US investment fund BlackRock.
Five things to know about Versace
Italian fashion giant Versace, the long-held family business known for its flashy, sexy designs and Medusa head logo, will now become part of Prada, its larger rival and polar opposite in terms of style. Made from silk and lycra, with a sharply plunging neckline and a long slit up the side, the dress was held together by several oversize golden safety pins.
US consumer inflation cools in March on falling gas prices
US consumer inflation cooled last month on plunging gas prices, according to government data published Thursday, as consumers and businesses waited nervously for President Donald Trump's sweeping tariffs to come into effect.
Cannes Festival: Films in competition
Nineteen films were announced Thursday in the main competition at Cannes Film Festival, which kicks off on the French Riviera on May 13. - 'Sentimental Value' by Joachim Trier (Norway) - A comedy drama featuring a filmmaker trying to reconnect with his daughters from a director whose last feature "The worst person in the world" also premiered in competition at Cannes in 2021.
Shanghai finance workers worry after front-row seat to tariff turmoil
As stock prices flashed across a huge screen at a bustling intersection in China's business hub Shanghai, finance workers shared their concerns after getting front-row seats to the global market turmoil wreaked by Donald Trump this week.
Dollar soars in official forex window as naira trades at new rates in all markets
The US dollar soared against the naira on Wednesday, April 9, 2025, despite CBN's injection of $197.71 million into the foreign exchange market to boost liquidity.
Lagos state to enforce 10% fees for real estate agents, urges landlords to consider quarterly rents
There has been a public outcry against exploitative real estate practices, with many Lagosians complaining of fees running as high as 40% of rents.
Trump tariffs weigh on Germany as institutes cut forecasts
Leading economic institutes Thursday slashed their 2025 growth forecast for Germany to near stagnation, warning Europe's struggling top economy will face extra pain from US President Donald Trump's tariff blitz.
Blackout: Nigerians react to poor power supply amid higher electricity tariffs, increased generation
Customers on Band A feeders expect to get a minimum of 20 hours of electricity supply, but got a prolonged blackout on most days and 8 hours supply on other days.
Economy
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