ITALY’S PRADA TO BUY RIVAL VERSACE FOR 1.25 BN EUROS. (PHOTO).

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 Italy’s Prada to buy rival Versace for 1.25 bn euros Italian fashion house Prada announced Thursday that it had reached a deal with US group Capri Holdings to buy Versace for 1.25 billion euros ($1.39 billion). The acquisition will create a luxury group with revenues of over six billion euros that could better compete with industry giants such as the French conglomerates LVMH and Kering amid a slowdown in the sector worldwide. “We are delighted to welcome Versace to the Prada Group and to build a new chapter for a brand with which we share a strong commitment to creativity, craftmanship and heritage,” Prada group chairman and executive director Patrizio Bertelli said in a statement. In 2018, Capri paid €1.83 billion (then $2.1 billion) to acquire Versace, which was previously owned 80 percent by the Versace family and 20 percent by the US investment fund BlackRock. Amid declining sales, it put the Milan-based label up for sale, and began exclusive negotiations with Prada at the en...
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ABUJA MAN ARRESTED FOR ATTEMPTED SUICIDE RELEASED ON BAIL AFTER MENTAL ASSESSMENT. (PHOTO).

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 Abuja man arrested for attempted suicide released on bail after mental assessment


The Federal Capital Territory Police Command said a man identified as Shuaibu Yushau who was arrested on July 8 for attempted suicide has been released on bail to his lawyer, Deji Adeyanju.


The FCT Police Command’s spokesperson, Josephine Adeh, in a statement on X.com on Friday, said Yushau’s release follows a mental assessment conducted by the FCTA SDS.


She said although the assessment report indicated that he is mentally stable, symptoms of anxiety, persistent worry, and fears were observed in the course of profiling him.


Adeh added that the FCTA SDS recommended that the suspect should be allowed to report weekly to their office for further psycho-social care and support, hence the reason for admitting him to bail.


She wrote, “On Thursday, July 18, 2024, the FCT police command released Alhaji Yushau Shuaibu on bail to his lawyer, Deji Adeyanju. Shuaibu who was arrested for climbing the Aso Radio mast. He was referred to the FCTA SDS for a mental assessment, which found him mentally stable.


“However symptoms of anxiety, persistent worry, and fears were noted during his profiling. The SDS recommended that he receive further psycho-social care and support, which contributed to the decision to release him on bail.”


Recall that that Shuaibu was arrested for climbing the Aso Radio mast in protest against insecurity and hardship in the country. He said he had been observing the mast for about a week before deciding to climb it.

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