Latest Business News

Michael Kors ups the glamour, buys Versace for $2 billion

Sep. 25, 2018 7:25 AM EDT

NEW YORK (AP) — Michael Kors is buying the Italian fashion house Gianni Versace in a deal worth more than $2 billion (1.83 billion euros), continuing its hard charge into the world of high-end fashion. The deal announced Tuesday follows the New York handbag maker's $1.35 billion acquisition last year of...

Europe tech firms urge tougher rules to offset US dominance

Sep. 25, 2018 7:23 AM EDT

LONDON (AP) — Music streaming sites Spotify and Deezer are among European tech companies and trade associations calling on EU officials to toughen proposed legislation aimed at combating unfair business practices by U.S. giants like Apple, Google and Amazon. In a joint letter, the group urged European...

UK's Labour opposition says it will reject May's Brexit deal

Sep. 25, 2018 7:17 AM EDT

LONDON (AP) — Britain's main opposition Labour Party said Tuesday it will reject Prime Minister Theresa May's proposed Brexit deal with the European Union when it comes to a vote in Parliament, saying the government was offering the country a choice between "really bad and even worse." If Britain and the...

Global stocks turn higher, price of oil keeps rising

Sep. 25, 2018 7:12 AM EDT

BEIJING (AP) — Global stock markets turned higher Tuesday as investors parsed the latest news in the United States trade disputes, while the price of oil continued to gain on concerns that OPEC countries would not increase production. KEEPING SCORE: In Europe, France's CAC 40 gained 0.3 percent to 5,494...

Michael Kors is buying the Italian fashion house Gianni Versace in a deal worth more than $2 billion

Sep. 25, 2018 7:07 AM EDT
NEW YORK (AP) — Michael Kors is buying the Italian fashion house Gianni Versace in a deal worth more than $2 billion.

Hopis asking feds to explore other options for power plant

Sep. 25, 2018 7:02 AM EDT

KYKOTSMOVI, Ariz. (AP) — Hopi tribal officials are calling on the federal government to explore other options for the Navajo Generating Station near Page. Two companies that were negotiating to take over a coal-fired power plant on the Arizona-Utah line ended the effort last week, saying the challenges...

World trade body's chief urges nations to avert trade war

Sep. 25, 2018 6:37 AM EDT

BERLIN (AP) — The head of the World Trade Organization says the whole international community has a responsibility to reduce tensions and avert a full trade war, which would produce "no winners." Trade tensions between the U.S., China and others have spiraled lately and WTO director-general Roberto Azevedo...

Novartis plans to cut 2,100 jobs in Switzerland, Britain

Sep. 25, 2018 6:19 AM EDT

GENEVA (AP) — Novartis said Tuesday it's cutting some 2,100 jobs in Switzerland and Britain over several years as the Swiss pharmaceuticals giant tweaks its corporate structure to become more nimble and more efficient. CEO Vas Narasimhan said Novartis hopes to lower its overall headcount worldwide to below...

Big changes about small fish might be in store for fishermen

Sep. 25, 2018 6:18 AM EDT

The little herring is one of the most important fish on the East Coast, and federal fishing managers on Tuesday will consider a host of potentially major changes to the industry that harvests the species. Atlantic herring is a small, schooling fish that is the target of an industry that collects more than 100...

The Latest: WTO says it will try to minimize any Brexit pain

Sep. 25, 2018 5:46 AM EDT

LONDON (AP) — The Latest on Britain's planned exit from the European Union (all times local): 10:45 a.m. The head of the World Trade Organization says the trade body will try to minimize disruption caused by Britain's exit from the European Union. Britain is due to leave the 28-nation EU in March. No deal...