MILAN — Giorgio Armani has appointed deputy managing director Giuseppe Marsocci as chief executive with immediate effect, the Italian fashion house said on Thursday, confirming media reports. Marsocci, who has…
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Business
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LendingTree CEO and founder Doug Lebda died in an all-terrain vehicle accident over the weekend, the online loaning platform said Monday. In a company announcement, LendingTree confirmed that Lebda unexpectedly…
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Business
Paramount acquires Bari Weiss’ The Free Press, naming her the top editor of CBS News
by adminThe newly formed media corporation Paramount Skydance has acquired The Free Press, an online news and commentary outlet co-founded by Bari Weiss, who will join CBS News as editor-in-chief. Weiss…
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HONG KONG — China outlined new curbs on exports of rare earths and related technologies on Thursday, extending controls over use of the elements critical for many high-tech and military…
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Electronic Arts, maker of video games like “Madden NFL,” “Battlefield,” and “The Sims,” is being acquired for $52.5 billion in what could become the largest-ever buyout funded by private-equity firms.…
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A group of the country’s top economic leaders, including every living former Federal Reserve chair, filed an amicus brief with the Supreme Court on Thursday in support of Fed governor…
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Business
Amazon to pay $2.5 billion to settle FTC allegations that it duped customers into enrolling in Prime
by adminSEATTLE — Amazon has reached a historic $2.5 billion settlement with the Federal Trade Commission, which said the online retail giant tricked customers into signing up for its Prime memberships…
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LimeWire, the filesharing service that set the internet ablaze in the 2000s before being shut down for copyright infringement, said Tuesday that is acquiring the rights to Fyre Festival. And…
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Business
Kenvue stock drops 10% on report RFK Jr. will link autism to Tylenol use during pregnancy
by adminShares of Kenvue fell more than 10% on Friday after a report that Health Secretary Robert F. Kennedy Jr. will likely link autism to the use of the company’s pain…
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The Labor Department has announced an inquiry into the Bureau of Labor Statistics over recent changes to its data practices. In a letter published Wednesday, the office of the inspector…
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David Ellison continues to put his stamp on Paramount after its acquisition by Skydance. The CEO and chairman told employees Thursday that they will be expected to work in the…
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Business
Retail panic: What the end of the ‘de minimis’ exemption means for brands across the globe
by adminThe de minimis exemption, an obscure trade law provision that has simultaneously fueled and eroded businesses across the globe, officially came to an end on Friday following an executive order…
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Business
Spirit Airlines files for Chapter 11 bankruptcy protection for the second time in a year
by adminSpirit Airlines on Friday filed for bankruptcy protection, just months after the budget carrier failed to secure better financial footing when it came out of Chapter 11 protection in March.…
Business
Charlie Javice sentenced to 7 years in prison for fraudulent $175M sale of aid startup
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Charlie Javice, the founder of a startup company that sought to dramatically improve how students apply for financial aid, was sentenced Monday to more than seven years in prison for…
Fast-food restaurants are losing breakfast customers to convenience stores. Morning meal traffic to fast-food chains rose 1% in the three months ended in July, while visits to food-forward convenience stores…
The average rate on the 30-year fixed mortgage dropped 16 basis points to 6.29% Friday, according to Mortgage News Daily, following the release of a weaker-than-expected August employment report. It’s…