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The Big Luxury Brands Have $22 Billion to Burn

For Europe’s luxury giants, it’s a nice dilemma to have: What to do with all that cash. French companies LVMH, Kering and Hermes International, along with Switzerland’s Richemont, had collectively amassed a 17.4-billion-euro ($21.5 billion) cash pile by the end of 2017. More is rolling in, as sales boom in China and a new generation…

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Facebook’s Zuckerberg Earns Likes for Washington Performance

Facebook Inc. Chief Executive Officer Mark Zuckerberg apologized, defended his company, and jousted with questioners while agreeing with others during his first-ever congressional testimony. Early reviews on his effort to restore trust with lawmakers and the public were mostly positive. “It was my mistake, and I’m sorry,” Zuckerberg said Tuesday, turning to look at individual…

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California Says a Car-Emissions Deal With Trump Could Be Doable

California’s top air-quality regulator sees hope for a deal with the Trump administration over fuel economy and emissions standards -- so long as Washington doesn’t try to steamroll the state. Federal agencies have yet to translate their disdain for regulations into concrete proposals to roll back Obama-era rules intended to curb tailpipe emissions, meaning there’s…

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Kansas, N.C. State Caught in College Basketball Bribe Probe

By Updated on Two more premier college basketball programs were ensnared in an expanding federal probe into bribery at the sport’s highest level when prosecutors filed additional charges against three men accused of funneling cash to prospects to steer them to top schools. Former Adidas AG executive James Gatto, consultant Merl Code and agent Christian…

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