Usa Financial News

Tapestry Inc., the owner of brands including Coach and Kate Spade, agreed to acquire Michael Kors parent Capri Holdings Ltd. in an $8.5 billion deal that shows the wave of consolidation in the luxury goods sector is far from finished. The New York-based firm is paying a $57 per share in cash, according to a statement Thursday, a 65% premium over Capri's last closing price. The transaction is expected to close in 2024, subject to approval by regulators and Capri shareholders. “We are confident this combination will deliver immediate value to our shareholders,” Capri Chief Executive Officer John Idol said in the statement. “By joining with Tapestry, we will have greater resources and capabilities to accelerate the expansion of our global reach while preserving the unique DNA of our brands.” Tapestry shares fell as much as 6% in early trading before paring their decline. Capri was up 59%. Capri's shares have tumbled recently as a pullback in spending by US consumers in department stores dented sales of the mass-market Michael Kors brand.

Vincent Pons is Michael B. Kim Associate Professor at Harvard Business School. Speaking to Srijana Mitra Das, he discusses the role of democracy and stability in bolstering economies:Q. What is the core of your research?A.

A few days ago, I alerted a friend to the excellent news that her name, Shormishtha, was the 4,213,784th most common name in the world. Eight people, presumably including her, are called that. Of those, six are in India, with one each in Canada and the US.

On 9 August, Kerala’s legislative assembly passed a resolution requesting the Central government to amend the name of the state from ‘Kerala’ to ‘Keralam’ and rename it thus under the Eighth Schedule of the Constitution. Chief minister Pinarayi Vijayan, who moved the resolution, said that this move was in keeping with how the state was referred to in its native language Malayalam.

Stablecoin issuer Circle has a $1 billion cash reserve pegged as insurance against a declining market capitalization and fresh competition from the traditional finance and technology industries, said CEO Jeremy Allaire. 

Virgin Galactic, the spaceflight company, accomplished its second commercial spaceflight named Galactic 02. The flight marked a milestone as it carried its inaugural group of private-paying tourists. Departing from Spaceport America in New Mexico, the spacecraft was piloted by CJ Sturckow and Kelly Latimer. Accompanying them were four others: Beth Moses, the chief astronaut trainer overseeing the mission, and a trio of passengers.

By Andrea Shalal

The XRP price is slipping lower after news emerged that the US Securities and Exchange Commission (SEC) is appealing the judge's decision in the XRP securities case, boosting the appeal of a safer alternative, the XRP20 coin. 

Biocon on Thursday reported 30‰ year-on-year (YoY) drop in net profit to Rs 101 crore for the quarter ended June 2023. The company had reported net profit of Rs 144 crore during corresponding quarter of the previous year. The company attributed the drop in net profit to depreciation, amortisation and interest increase of Rs 353 crore over last year primarily related to the biosimilar business acquisition cost.

By Jody Godoy

By David Shepardson

A federal judge has approved a joint request from lawyers for Alex Mashinsky and the United States Department of Justice modifying the former Celsius CEO’s bail conditions to include electronic monitoring.

Stablecoins are at the heart of a dollar-based revolution and could be a pivotal factor in keeping the U.S. dollar the dominant global currency, according to an Aug. 9 opinion piece published in The Wall Street Journal. 

carbon budget, leaving countries like India with very little carbon space for the future, the government said on Thursday. Responding to a question by BJP MP CM Ramesh, Minister of State for Environment Ashwini Kumar Choubey told the Rajya Sabha that India is doing far more than its fair share to combat climate change.

Americans are paying more to rent or insure their homes than a few years ago and much more to buy one with a mortgage, but there’s a silver lining in that hardship: A cool-down could help convince the Federal Reserve to pause its series of interest rate hikes. Thursday’s report from the Labor Department on inflation showed that more than 90% of the increase in prices in July came from shelter. Other big contributors were things like motor vehicle insurance.

Painkiller," delves into the infamous opioid crisis in the United States. Featuring Uzo Aduba, Matthew Broderick, Sam Anderson and Taylor Kitsch in lead roles, the show provides a sobering portrayal with a focus on Purdue Pharma, the OxyContin manufacturer. For those anticipating the series, the wait is almost over. Here's the essential information you need about «Painkiller,» from its premiere date and time to where you can catch it.

The Bitcoin (BTC) price is little moved in the mid-$29,000s in wake of the latest core US inflation data that has reaffirmed that price pressures continue to ease in the US economy.

HANOI (Reuters) — Shareholders of Black Spade Acquisition, a Hong Kong-based blank-cheque company, on Thursday approved a merger with Vietnam's electric automaker VinFast, allowing the carmaker to list in the United States this year.

By Isla Binnie and Andres Gonzalez

The emergence of high-level artificial intelligence (AI) technology has caused the United States and China to safeguard their resources in a race to develop the most powerful systems.

Oscars 2024, specifically for the category of Best International Feature. Each entry for this prestigious award is currently being highlighted and detailed on this particular page. Scheduled for March 10, 2024, the 96th edition of the Academy Awards is poised to unfold at the illustrious Dolby Theatre located in Los Angeles. In cinematic terms, an international feature film is classified as a motion picture of extended duration (running for more than 40 minutes) crafted outside the borders of the United States. These films predominantly feature dialogue tracks that encompass languages other than English, with a minimum threshold of more than 50 per cent non-English content. The category further extends its scope to encompass animated as well as documentary features. To be eligible for consideration, the submitted films must have experienced theatrical releases within their respective countries during the timeframe spanning from December 1, 2022, to October 31, 2023. The Academy's stipulated deadline for these submissions is set at October 2. On December 21, a shortlist comprising 15 finalists will be announced. Subsequently, the ultimate five nominees will be unveiled on January 23. Reflecting on the previous year's proceedings, the 2023 edition witnessed a substantial total of 92 submissions. Among these, the final roster of nominated films encompassed noteworthy entries such as «Argentina, 1985» from Argentina, «Close» from Belgium, «EO» from Poland, «The Quiet Girl» from Ireland, and ultimately, the triumphant victor, «All Quiet On The Western Front» from Germany.