MILAN — The Prada Group announced Tuesday that it has officially purchased Milan fashion rival Versace in a 1.25 billion euro (nearly $1.4 billion) deal that puts the fashion house known for its sexy silhouettes under the same roof as Prada’s “ugly chic” aesthetic and Miu Miu’s youth-driven appeal. The highly anticipated deal is expected…
Tech billionaires Michael and Susan Dell announced Tuesday that they are pledging $6.25 billion to create some 25 million additional ‘Trump Accounts’ for children across the country. These accounts will be seeded with $250 each, and available for children who missed the eligibility cutoff for the $1,000 federally funded ‘Trump Accounts’ for babies born after…
Starbucks will pay about $35 million to more than 15,000 New York City workers to settle claims it denied them stable schedules and arbitrarily cut their hours, city officials announced Monday. The company will also pay $3.4 million in civil penalties under the agreement with the city’s Department of Consumer and Worker Protection. It also…
Apple’s top artificial intelligence executive is stepping down and will retire in 2026, the company announced Monday. John Giannandrea had been at Apple since 2018, where his official title was senior vice president for machine learning and AI strategy. He will be replaced by Amar Subramanya, who comes to Apple after a brief stint as…
Outages on Shopify’s e-commerce platform have been resolved, the company said late Monday, bringing to an end a daylong glitch on the annual ‘Cyber Monday’ shopping day. Some merchants that use Shopify’s service to sell goods online said they experienced issues with checkouts through the company’s point-of-sale system. Businesses that run on Shopify also had…
PARIS — Airbus fleets were returning toward normal operations on Monday after the European plane maker pushed through abrupt software changes faster than expected, as it wrestled with safety headlines long focused on rival Boeing. Dozens of airlines from Asia to the United States said they had carried out a snap software retrofit ordered by…
Campbell’s has fired an executive accused of making racist comments and mocking its products and customers, the company announced on Wednesday. The termination follows a lawsuit filed in Michigan by former employee Robert Garza against Campbell’s, the company’s then-vice president of information technology Martin Bally and another manager. The complaint alleges retaliation and a hostile…
What began as a banner day for stocks turned into a major rout, as investors signaled ongoing skepticism about the longevity of the artificial intelligence boom and trimmed hopes of support from the Federal Reserve. The tech-heavy Nasdaq fell 2%, and the broad S&P 500 index dropped by more than 1.5%. The Dow Jones Industrial…
Bitcoin and ether slumped to multi-month lows on Friday, with cryptocurrencies swept up in a broader flight from riskier assets as investors worried about lofty tech valuations and bets on near-term U.S. interest rate cuts faded. Bitcoin, the world’s largest cryptocurrency, fell 5.5% to a seven-month low of $81,668. Ether slid more than 6% to…
The United States added 119,000 jobs in September, a stronger-than-expected figure and a sign that the economy was adding jobs at a healthy clip before government shutdown. But the details of the report from the Bureau of Labor Statistics paint a more mixed picture, that of a labor market that has recently begun to look…