RUSSIA LAUNCHES MASSIVE DRONE AND MISSILE BARRAGE ON UKRAINE, KILLING AT LEAST 18 CIVILIANS AND STRIKING KYIV AND MULTIPLE CITIES. (PHOTO).

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 Russia launches massive drone and missile barrage on Ukraine, killing at least 18 civilians and striking Kyiv and multiple cities  Russia carried out a large-scale overnight assault on Ukraine, launching hundreds of drones and dozens of missiles that killed at least 18 civilians and wounded more than 100 others across multiple cities, officials said Tuesday. The strikes hit Kyiv, Dnipro and other regions, with emergency crews working through destroyed residential buildings where some victims were trapped under rubble. In Dnipro, rescuers recovered the bodies of a 3-year-old child and a mother and her 8-year-old son, while officials reported 12 deaths in the city and six in Kyiv. The bombardment stretched from night into daylight, with explosions reported across wide areas of the country. Kyiv residents had been on alert for days after warnings of a major aerial attack, including advisories for foreign diplomats to leave the capital. Despite those warnings, most remained in pl...
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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 end of February.


Capri, which also owns Jimmy Choo and Michael Kors, had to accept a reduced price from Prada amid the market turmoil caused by US President Donald Trump’s tariffs.


The Financial Times had reported that the price was initially expected to be about $1.6 billion but had been negotiated downwards in recent days.


Last month, Donatella Versace stepped down as creative director after more than 30 years, in what was widely seen as a prelude to the accord.


She took over in 1997 following the murder of her older brother Gianni, who founded the Milan-based label in 1978.


But on April 1 she was replaced as creative director by Dario Vitale, who has overseen soaring sales at Miu Miu, Prada’s sister brand targeting a younger clientele.


Donatella Versace, who turns 70 in May, is now the label’s chief brand ambassador.

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