The luxury industry is poised for a deal wave

A shopping spree looks set to begin in the world of luxury. Prada, one big-name Italian brand, is said to be in talks to buy another, Versace. On March 13th Donatella Versace stepped down as chief designer of the firm founded by her brother. Giorgio Armani, the 90-year-old founder of his eponymous label, has said…

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Blame hotels for ‘overtourism’ in Europe, says Airbnb

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Airbnb has blamed “overtourism” in Europe on the hotel industry, as the US short-term home rentals group hits back against criticism from regulators and residents that its service is leading to overcrowding in holiday hotspots….

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Why ‘Beating China’ in AI Brings Its Own Risks

The Biden administration this week introduced new export restrictions designed to control AI’s progress globally and ultimately prevent the most advanced AI from falling into China’s hands. The rule is just the latest in a string of measures put in place by Donald Trump and Joe Biden to keep Chinese AI in check. With prominent…

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