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Spotify founder Daniel Ek to give up CEO role
Spotify founder Daniel Ek to give up CEO role
Economy
by  AFP

Spotify co-founder Daniel Ek will step down as CEO on January 1 and become executive chairman, handing the reins to two of his deputies in a leadership shake-up, the music streaming giant said Tuesday. "In my role as executive chairman, I will focus on the long arc of the company and keep the board and our co-CEOs deeply connected through my engagement," Ek said. jll/lth

EU green lights Prada's bid for Versace
EU green lights Prada's bid for Versace
Economy
by  AFP

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".