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Coach owner Tapestry calls off Capri bid on regulatory blocks
Coach owner Tapestry calls off Capri bid on regulatory blocks

Fashion group Tapestry said Thursday that it was dropping its $8.5 billion bid for Capri, the owner of luxury brands including Michael Kors and Versace, following a successful legal challenge by US regulators. "Capri and Tapestry mutually agreed that terminating the merger agreement was in the best interests of both companies," Capri said in a statement.

UK government announces ban on new coal mines
UK government announces ban on new coal mines

The UK announced Thursday that it will introduce legislation to ban new coal mines, as the Labour government ramps up its plans to make Britain a clean energy leader. Energy minister Michael Shanks said in a statement that "consigning coal power to the past" would "pave the way for a clean, secure energy system that will protect billpayers and create a new generation of skilled workers".