BUSINESS

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Marking a "pivotal" moment for the aviation giant, Boeing Chief Executive Kelly Ortberg announced Monday the completion of its $8.3 billion acquisition of aerospace supplier Spirit

AeroSystems. The deal, which includes assumed Spirit debt and was first revealed in July 2024, is expected to allow for more seamless operations and enhance quality control.

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In a significant move for the luxury fashion industry, the Prada Group has officially acquired Milan-based rival Versace for €1.25 billion ($2.2 billion). This acquisition combines Versace’s renowned "sexy silhouettes" with Prada’s signature "ugly chic" and Miu Miu’s appeal to younger audiences. The deal comes with high anticipation, aiming to revitalize Versace's fortunes after its lackluster post-pandemic performance under previous owner Capri Holdings.

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Puma shares surged on Thursday after reports indicated that China's Anta Sports is exploring a possible takeover of the struggling German sportswear company. The stock jumped as much as 16%, later settling around 13% higher, marking one of Puma's sharpest single-day rallies this year. The sudden spike comes after a difficult year in which Puma's share price has more than halved, weighed down by slowing demand, rising competition, and the impact of U.S. tariffs on customer sentiment.

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The Advertising Standards Authority (ASA), the UK's advertising watchdog, has banned adverts for Nike, Superdry, and Lacoste. The ASA challenged these brands' paid-for Google ads over their use of the word "sustainable," identifying three specific adverts that promised "sustainable materials," "sustainable style," and "sustainable clothing" without sufficient evidence to back their environmental claims.