Author: Reuters Econ

Gucci owner Kering has agreed to sell its beauty business to L’Oreal for 4 billion euros ($4.66 billion), the company said on Sunday, as new CEO Luca de Meo moves to tackle the luxury group’s high debt and refocus on its core fashion business.

When Bernie Ecclestone was asked about a group of guests receiving VIP treatment at a Formula One race nine years ago, the commercial supremo said they were representatives of “a fruit company”.

Grupo Aeroméxico and some of its existing shareholders are aiming to raise as much as $234.5 million in an initial public offering in the U.S., the Mexican airline said on Friday.

U.S. President Donald Trump said on Friday that his administration was working to lower the price of beef in the country.

Goldman Sachs Asset Management’s global co-head and chief investment officer of public investing, Ashish Shah, will retire from the partnership next year, according to a memo seen by Reuters on Wednesday.

BOND, a new private aviation company backed by U.S. investment firm KKR , was disclosed on Tuesday as the customer behind a June $1.7 billion order for 50 Bombardier private jets and aftermarket services.

Rio Tinto , reported a 6% sequential rise in third-quarter iron ore shipments on Tuesday, despite planned major maintenance activities and infrastructure works which will continue in the fourth quarter.

Private equity firm Warburg Pincus is nearing a deal to buy German software maker PSI Software in a deal worth more than 700 million euros ($813 million), two people familiar with the matter said.

Europe needs to build up its own digital infrastructure to reduce dependence on U.S. providers, but that does not mean turning away from them completely, Germany’s digital minister Karsten Wildberger told Reuters.

Morgan Stanley’s asset management unit asked investment bank Jefferies to return some money it invested in the latter bank’s Point Bonita Capital fund, according to a person familiar with the situation.