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The Federal Trade Commission has successfully blocked Tapestry's $8.5 billion acquisition of Capri Holdings, citing concerns over reduced competition in the accessible luxury handbag market. The ruling has led to a significant drop in Capri's stock, while Tapestry plans to appeal the decision.
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Elon Musk has reportedly maintained regular contact with Vladimir Putin since late 2022, discussing personal and geopolitical matters. This relationship raises significant national security concerns, especially as Musk plays a crucial role in U.S. space operations and is a major donor to Donald Trump's campaign. Lawmakers are calling for investigations into these interactions.
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Tapestry, the owner of Coach, said it would abandon its $8.5 billion deal to buy Capri, the parent company of Michael Kors, after the Federal Trade Commission successfully sued to stop the transaction.