November 15, 20240 Comments

Capri and Tapestry abandon plans to merge

Pedestrians walk past a Michael Kors store on August 10, 2023 in Chicago, Illinois.  Scott Olson | Getty Images Capri and Tapestry called off their merger on Thursday after the Federal Trade Commission successfully sued to block the megadeal. The two U.S.-based luxury houses “mutually agreed” that terminating the merger was in their best interests as they were unlikely to get regulatory approval before the deal was set to expire

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November 9, 20240 Comments

Australia plans social media ban for under-16s

Australia’s government says it will introduce “world-leading” legislation to ban children under 16 from social media. Prime Minister Anthony Albanese said the proposed laws, to be tabled in parliament next week, were aimed at mitigating the “harm” social media was inflicting on Australian children. “This one is for the mums and dads… They, like me, are worried sick about the safety of our kids online. I want Australian families to

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November 8, 20240 Comments

Nissan shares plunge over 10% after downbeat quarterly results, production-cut plans

The Nissan ARIYA on the EV test track at the New York International Auto Show on March 28, 2024.  Danielle DeVries | CNBC Shares of Japanese automaker Nissan tumbled as much as 10.12%, a day after the company posted downbeat quarterly results and said it would reduce global production capacity by 20%. Shares of the company — which also announced plans to cut staff by 9,000 — hit a four-year intraday low

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