Italian fashion house Roberto Cavalli has changed its owner. The company was bought by the Vision Investment company of the Dubai billionaire Hussain Sajwani. Billionaire Hussain Sajwani, who is the founder and chairman of the Dubai developer Damac Properties, acquired the Italian fashion house Roberto Cavalli through his investment company Vision Investment, writes Bloomberg. The acquisition...

The world's largest producer of agricultural machinery warned of a risk of lower profits in 2020, noting the negative sentiment among American farmers due to the trade war with China. The financial results of Deere & Co for the IV quarter and fiscal 2019 as a whole, published on Wednesday, November 27, were better than market expectations. In particular, the company reported sales growth for...

Citigroup Inc. was fined £ 44 million ($ 57 million) by the Bank of England. This is a record amount for the British Central Bank. The bank is charged with "serious errors" in reporting capital and liquidity ratios from June 2014 to December 2018. The Bank of England Prudential Regulatory Authority (PRA) identified significant weaknesses in the systems used by three UK Citigroup units to report...

China Shipbuilding Group was established after Beijing approved the merger of the two largest shipbuilding corporations in the country - China Shipbuilding Industry Corp. (CSIC) and China State Shipbuilding Corp. (CSSC). The total assets of the combined group amount to 790 billion yuan ($ 112 billion), the number of employees is 310 thousand. The shipbuilder produces a variety of products, from...

The American oil and gas corporation is going to sell assets in 11 countries for a total of $ 25 billion. This was reported with reference to unnamed sources in banking circles by Reuters. According to the agency’s sources, Exxon is going to withdraw from extractive assets in the British part of the North Sea, Germany, and Romania. Southeast Asia plans to sell assets in Indonesia and Malaysia....

Payment company PayPal buys Honey online discount service. Last year, Forbes included this startup in the ranking of future unicorns. PayPal will pay for it $ 4 billion, and this is the largest amount in its history. PayPal payment company buys the online service Honey for $ 4 billion, which helps people save on purchases by comparing prices for goods and services in online stores. Buying Honey...

Luxury holding LVMH Moet Hennessy - Louis Vuitton offered to acquire the American jewelry company Tiffany & Co for $ 16 billion instead of the $ 14.5 billion previously proposed, The Financial Times and Reuters reported citing sources. In response, Tiffany & Co promised LVMH to disclose confidential information about its financial position. According to Reuters sources, there are no...

T-Mobile provider that announced that John Legere, the company’s CEO, will resign in April 2020 after expiration of the contract. The unexpected course of events is due to the fact that Legere has become one of the leading contenders for the post of WeWork's CEO. Mike Sievert, who is currently Chief Operating Officer and President at T-Mobile, will take his position. The firm reported that Legere...

Kylie Jenner, the youngest self-made billionaire on Forbes list, will sell a controlling stake in her cosmetics company Kylie Cosmetics for $ 600 million. The buyer is Coty Corporation, which produces cosmetics under the Max Factor brand. Coty Inc will pay $ 600 million for 51% of Kylie Cosmetics, a cosmetics company owned by model Kylie Jenner, a joint press release reads. The parties plan to...