Michael Kors ($KORS) is reportedly nearing a deal to buy Versace in a deal that would value the storied Italian fashion house at around $2 billion.
Blackstone would sell its 20 percent stake as part of the deal, according to the Wall Street Journal. It is unclear what role the Versace family, led by Donatella, would play in an acquisition. The family has tightly controlled the brand since designer Gianni Versace's murder in 1997.
Unlike Versace with its famous Medusa logo and luxurious stores, Michael Kors has staked out a position in the "mid" high-end market, though it did buy shoe designer Jimmy Choo last year for $1.2 billion.
Prince Harry has reached an out-of-court settlement with a tabloid newspaper publisher that invaded his privacy with phone hacking and other illegal snooping. Attorney David Sherborne said that Mirror Group Newspapers had agreed to pay Harry’ “substantial” costs and damages.
An attorney representing passengers of an Alaska Airlines flight that lost a door plug in midair says a “whistling sound” was heard on a previous flight of the same Boeing 737 Max 9.
What do Arnold Schwarzenegger, Aubrey Plaza, and Tom Brady all have in common? You'll see them on Super Bowl Sunday, but not on the field. If you only watch the Super Bowl for the ads, here's a sneak peek.
The Federal Communications Commission knows (to loosely quote Drake) "when that [AI robocall] hotline bling, that can only mean one thing" — deception. The agency says bad actors have been using these voices to misinform voters.
David Stryzewski, CEO of Sound Planning Group, breaks down Disney’s latest results, from adding Taylor Swift to building out ESPN, and why Bob Iger’s leadership is crucial.
Kevin Cohee, CEO and chairman of OneUnited Bank, discusses the power of financial literacy and how education and technology can help bridge the racial wealth gap.
Alex McGrath, Chief Investment Officer at NorthEnd Private Wealth, discusses why the A.I. hype can’t power the market forever and how to position investments in the current market.
