News@Nine MONDAY 25TH JULY 2016
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LVMH to Sell Donna Karan Brand to G-III in a $650 Million Deal


25 July | 07:23 AM | New York Times | Fashion &Style

For only the second time in its almost 30-year history, LVMH Moët Hennessy Louis Vuitton, the largest luxury conglomerate in the world, is selling a fashion brand. On Monday, the French company said that it had agreed to sell Donna Karan International to G-III Apparel Group, the American manufacturing and licensing company that owns Andrew Marc, Vilebrequin and Bass and holds the licenses for Ivanka Trump, Calvin Klein and Tommy Hilfiger, among others.

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Woolworths to cut 500 jobs and close stores across Australia


Supermarket giant says it is also continuing a review of all back office roles as part of its restructure, which could put more jobs at risk Struggling supermarket giant Woolworths will cut 500 jobs and take a charge of $959m against its profit for the full year as it continues to restructure its operations.

Philip Green

Sir Philip Green's reputation torn apart in damning report on BHS demise


BHS was subject to “systematic plunder” by former owners Sir Philip Green, Dominic Chappell and their respective “hangers-on”, according to MPs, leading to the collapse of a company that once employed 11,000 people. A damning report published on Monday after weeks of evidence from former executives and advisers says the “tragedy” of BHS was the “unacceptable face of capitalism” and raises questions about how the governance of private companies and their pension funds should be regulated.

Waitrose bags

How a Waitrose adds £40,000 to nearby homes: Having a supermarket close to your property can significantly boost the asking price 


Living near a supermarket can help to boost the value of your home by £22,000 typically, research has found. The 'Waitrose effect' could help to add nearly £40,000 to the value of a home, a study found.


My Tube: Oscar de la Renta Resort 2017 Collection
Oscar de la Renta Resort 2017 Collection

Retail

Planning applications for new shops fell 9% in past year


The number of applications to build new shops fell by 9% in the past year, according to a report on Monday, marking the seventh decline in a row. There were 6,700 applications for new retail developments in 2015, down from 7,360, according to commercial law firm EMW. They are down by nearly a half from the pre-recession peak of 11,900 in 2008.

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Fashion’s revolving doors: All change once again as Oscar de la Renta and Calvin Klein prepare to welcome new names at the top


Peter Copping is out, Raf Simons might be in, Nicolas Ghesquière is staying put (for now), and Donna Karan‘s eponymous brand may be looking at its last run with LVMH. As fashion’s revolving doors keep spinning, we take a look at the changes and rumours afoot this week. Following the death of its namesake designer, Peter Copping’s time at Oscar de la Renta was always going to be a tricky one to navigate.

Home Retail Group

Competition watchdog clears Sainsbury's Home Retail Group takeover


Sainsbury’s proposed acquisition of Home Retail Group has been given clearance by the Competition and Markets Authority (CMA). The body said this morning that it would not be referring the deal for further investigation. J Sainsbury agreed a cash and shares deal, then worth £1.4bn,  for the Argos owner in April .


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