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Asos buys Topshop, Topman and Miss Selfridge brands

Asos buys Topshop, Topman and Miss Selfridge brands

Business
PA MediaOnline fashion retailer Asos has bought the Topshop, Topman, Miss Selfridge and HIIT brands from failed retail group Arcadia in a deal worth £295m.Sir Philip Green's Arcadia group fell into administration in November last year, casting doubt over the future of its brands and 13,000 jobs.Asos is acquiring the stock and the brands. However, it is not taking on the stores. It is paying £265m for the brands and a further £30m for the stock. Asos chief executive Nick Beighton said: "The acquisition of these iconic British brands is a hugely exciting moment for Asos and our customers and will help accelerate our multi-brand platform strategy. "We have been central to driving their recent growth online and, under our ownership, we will develop them further, using our design, marketing, te...
African Union buys 270 million vaccine doses for continent

African Union buys 270 million vaccine doses for continent

World
 The African Union has announced it has purchased a total of 270 million doses of coronavirus vaccines for the continent from Pfizer, AstraZeneca through the Serum Institute of India, and Johnson & JohnsonBy ANDREW MELDRUM Associated PressJanuary 13, 2021, 10:03 PM• 3 min readJOHANNESBURG -- The African Union announced Wednesday that it has purchased a total of 270 million doses of coronavirus vaccines for the continent from Pfizer, AstraZeneca through the Serum Institute of India, and Johnson & Johnson.At least 50 million of the doses will be available in the months of April to June and the rest of will be delivered before the end of 2021, said the African Union chairman, South African President Cyril Ramaphosa.“From the onset of this pandemic, our focus as a continent has be...
Britain buys General Atomics’ Protector drone in $81M deal

Britain buys General Atomics’ Protector drone in $81M deal

Business
July 15 (UPI) -- San Diego-based General Atomics will build three Protector drones for Britain in an $ 81 million deal, the British Ministry of Defense announced on Wednesday. The aircraft will also be deployed in intelligence, surveillance, targeting and reconnaissance missions, replacing Britain's current fleet of Reaper drones, officials said. Advertisement "The U.K. is proving once again that we are a world leader in defense technology," said Defense Minister Ben Wallace on Wednesday at the virtual 2020 Air and Space Power Conference. "Protector will provide the RAF [Royal Air Force] with vast global reach, meeting the U.K.'s defense and security needs for decades to come, and provides another increase to the unmanned inventory for the armed forces. The aircraft is a modification of t...
Parthasarathi Mukherjee, a former banker with Lakshmi Vilas Bank, buys 5 percent of Uttrayan Financial Services

Parthasarathi Mukherjee, a former banker with Lakshmi Vilas Bank, buys 5 percent of Uttrayan Financial Services

Finance
KOLKATA: Parthasarathi Mukherjee, a former banker with Lakshmi Vilas Bank (LVB) and Axis Bank, along with former colleagues has bought 5 percent of micro lending firm Uttrayan Financial Services as rural India and small businesses become the new frontiers for lenders. Mukherjee in his personal capacity has bought 2.8 percent in the Kolkata-based firm, and his four former LVB/Axis Bank colleagues would buy 2.48 percent in the lender for an undisclosed amount. “The fresh investment will help Uttrayan to achieve the next level of efficiency and higher growth. Technology updation and risk management are areas where more emphasis may be needed,” Mukherjee told ET, confirming the development. Micro lenders are the vehicles for expanding financial services as the hinterland still remains underser...
Arizona Cardinals’ Larry Fitzgerald buys part of NBA’s Phoenix Suns

Arizona Cardinals’ Larry Fitzgerald buys part of NBA’s Phoenix Suns

Sports
Jan. 22 (UPI) -- Veteran wide receiver Larry Fitzgerald has purchased a portion of the NBA's Phoenix Suns. Sources told NFL Network and ESPN Fitzgerald purchased a minority stake in the franchise. The Suns were valued at $ 1.5 billion in 2019, according to Forbes. "It's an investment in something I have supported since I've been in Arizona," Fitzgerald told NFL Network. "It gives me another connection in the community I love and always will live in. It's a long-term commitment I wanted to make for life after football." Fitzgerald, 36, has spent his entire 16-year NFL career with the Arizona Cardinals. He signed a one-year, $ 11 million contract with the Cardinals Jan. 15. He signed a seven-year, $ 113 million pact with the team in 2011. He is the second NFL player to have an ownership st...