Armani has opened the door to bringing more than one investor into the 15% stake sale required by founder Giorgio Armani’s will, adding a new layer of flexibility to one of the luxury industry’s most closely watched succession plans. Chief Executive Giuseppe Marsocci said Sunday that the stake
U.S. business investment is sending a message that financial markets may not welcome: the economy’s most capital-intensive growth engine remains strong even as borrowing costs rise. New orders for nondefense capital goods excluding aircraft, a widely watched proxy for business equipment spending, jumped 1.6% in August,
Select Water Solutions is taking a major step to turn oilfield water management from a service business into contracted infrastructure. The company agreed Thursday to acquire privately held Pilot Water Solutions for $700 million, consisting of $600 million in cash and $100 million in Select shares. The sellers could receive
Paychex delivered higher revenue, wider margins and double-digit earnings growth in its fiscal first quarter. Investors sold the stock anyway. The reaction reflects a demanding question for the payroll and human-resources provider: how much of its growth is coming from the core business that supports its investment case,
AutoZone’s fiscal fourth quarter gave investors two stories at once. The headline numbers were strong: net sales rose 5.6% to $6.59 billion, operating profit increased 10.1% to $1.3 billion, and diluted earnings per share climbed 15.1% to $56.05. The shares rose 3.3%
The European Central Bank has moved tokenised finance out of the laboratory and into the euro area’s financial plumbing. On Monday, the Eurosystem launched Pontes, a service that allows wholesale transactions in tokenised assets to settle in central bank money. The ECB also began preparations to invest a small
Telix Pharmaceuticals is making a $1.65 billion bet that control over medical-isotope supply will matter more than near-term dilution. The Australian radiopharmaceutical company agreed Monday to combine with Germany’s ITM Isotope Technologies Munich, adding a large isotope-production network and a late-stage cancer-drug pipeline.
France has put a stark number on its fiscal problem: public debt is expected to climb to 121.7% of gross domestic product in 2027, even if the government delivers its planned deficit reduction. The Finance Ministry said Saturday that debt would rise from 119.3% of GDP in 2026,
Warren Buffett’s decision to step down as chairman of Berkshire Hathaway completes a leadership transition designed not to replace one exceptional executive with another, but to divide his old responsibilities among people with clearer mandates. Berkshire said Friday that Buffett, 96, became chairman emeritus effective immediately and will remain
Lennar’s third-quarter results offer a clear view of the price U.S. homebuilders are paying to keep buyers moving through a strained housing market. The company delivered nearly as many homes as it did a year ago, but preserving that volume required heavier incentives and lower pricing, leaving
The U.S. Senate’s failure to advance the CLARITY Act has done more than delay a cryptocurrency bill. It has left the rules for a $2.3 trillion market dependent on regulators, judges and the next election, precisely the patchwork that digital-asset companies had spent years trying to
Almonty Industries has signed a binding agreement with the government of Rwanda that gives the Toronto-based miner majority ownership of a new tungsten platform just as U.S. defense buyers face tighter sourcing rules. At completion, Almonty will own 75% of Almonty Rwanda Pty Ltd, while the government will
