Asian stocks advanced, with the regional benchmark gauge ending at a six-week high, as telecommunications companies led gains. Japanese shares rose after the yen weakened and an advisory committee said the world’s largest pension fund doesn’t need a domestic-bond focus.
Macau’s gambling riches sparked bloody gunfights between triad gangsters two decades ago. Today, there’s a new conflict brewing, only this time it’s being waged with private jets, limousines and million-dollar loans.
Prada SpA, an Italian maker of $2,950 leather handbags, said Miuccia Prada Bianchi will step down as the fashion company’s chairman and join her husband Patrizio Bertelli as co-chief executive officer.
McLaren Automotive Ltd., the carmaker famed for its Formula One racing arm, is close to introducing its fourth supercar as the company seeks to vie against Fiat SpA’s Ferrari and Volkswagen AG’s Lamborghini.
Furla SpA, the closely held Italian handbag maker, predicts its China sales will outpace the company’s this year as a rising middle class and government austerity drive benefit entry-level luxury goods.
For more than a decade, Graham Holdings Co., the former Washington Post Co., relied on American students at its Kaplan colleges to fuel growth. With for-profit education under siege in the U.S., the future of the rapidly transforming company may lie abroad.