French luxury goods group LVMH is in discussions to sell fashion label Marc Jacobs in a deal that could fetch around $1 billion, the Wall Street Journal reported Friday, citing people familiar with the matter.In 2024, Bloomberg reported that LVMH was exploring strategic options for the label with advisers after receiving interest from potential buyers, though the company denied the claim at the time.The Bernard Arnault-led company has been discussing deals with multiple parties, including Reebok-owner Authe ...

Tesla dumped 75% of its Bitcoin holdings at one of the worst possible times – losing out on billions of dollars in gains.Bitcoin has been trading at near record prices and gained 80% over the past year, pushing digital assets owned by the automaker to a valuation of $1.24 billion.That’s far above the $722 million they were worth this time last year. 3 Tesla dumped 75% of its Bitcoin holdings at one of the worst possible times. REUTERSBut Tesla sold 75% of its holdings in mid-2022, when the digital currenc ...

Yes – Goldman Sachs is on the prowl for acquisitions, and it isn’t alone on Wall Street – but they may not be the deals you’ve been reading about.The speculation about Goldman buying Northern Trust (yes, I have been reporting it for years) is, at this point, likely nothing more than that, sources told On The Money. Northern Trust shares are up 20% on the chatter, but its CEO has been dismissive – and so are the people at Goldman, I am told.For one, Goldman CEO David Solomon doesn’t like overpaying, which is ...

Famed French fashion brand Louis Vuitton faces a money laundering probe in the Netherlands over cash purchases made by a Chinese national who spent around $3.5 million on handbags and other luxury goods, according to a report.A Chinese national bought around $3.5 million worth of Louis Vuitton handbags and other luxury goods at several outlets in the Netherlands over an 18-month period — prompting Dutch authorities to launch a probe into the French fashion house for failing to curb an alleged money-launderi ...

Puma shares dropped 16% on Friday after the German sportswear brand said it now expects an annual loss as sales decline and US tariffs dent profit.Puma has been struggling to attract shoppers as re-released retro sneakers, such as the Speedcat, have not sold as well as hoped, and CEO Arthur Hoeld, in the role since July 1, said the company needs to “course-correct.”“This year, 2025, will be a reset for Puma and 2026 will be a transition year for us,” said Hoeld, formerly sales chief at Adidas, who was appoi ...

Core Points - United Airlines issued a nationwide ground stop for all mainline flights due to an emergency alarm at its Chicago operations center [1][3] - The ground stop was temporary, and operations have since returned to normal with employees back at the primary operations center [1] - No flights were diverted during the ground stop, and United Express, the regional line, remained unaffected [3] - United Airlines operates the largest fleet among American airlines, with a total of 1,023 aircraft [3]

The Federal Communications Commission on Thursday approved the merger between Paramount Global and Skydance Media, clearing the way for an $8.4 billion sale of some of the most prominent names in entertainment, including the CBS broadcast television network, Paramount Pictures, and the Nickelodeon cable channel.The FCC agreed to transfer broadcast licenses for 28 owned-and-operated CBS television stations to the new owners after Paramount paid $16 million to settle a lawsuit filed by President Trump over a ...

Rite Aid, which filed for bankruptcy protection twice in less than two years, is shuttering dozens of additional stores from its existing portfolio. A bankruptcy court in New Jersey approved an order earlier this month allowing Rite Aid to move forward with plans to close 114 additional stores and sell its assets as part of its second bankruptcy proceedings.  The closures are taking place in Pennsylvania, California, New York, Washington, New Jersey, Maryland, Vermont, Connecticut, Delaware, New Hampshire, ...

Intel said Thursday it plans to slash its headcount to 75,000 by the end of this year, down from 99,500 at the end of 2024.The Santa Clara, Calif.-based chipmaker disclosed the layoff goals as it forecast steeper third-quarter losses than Wall Street estimates on Thursday, despite anticipating higher sales than analysts expected while new CEO Lip-Bu Tan steers the company through a historic turnaround.The outlook comes as investors pushed Intel’s shares up 14% this year, in the hopes of Tan undoing years of ...

Shares of UnitedHealth Group slipped Thursday after the health-care giant said it was under a Department of Justice investigation.The company said it has started complying with both criminal and civil requests from federal investigators and it was cooperating with them.“(UnitedHealth) has a long record of responsible conduct and effective compliance,” the company said in a Securities and Exchange Commission filing. 3 UnitedHealth’s UnitedHealthcare business covers more than 8 million people as the nation’ ...