Friday newspaper round-up: Prada/Versace, WeightWatchers, sewage plant
By Michele Maatouk
Date: Friday 11 Apr 2025
(Sharecast News) - The EU will not rip up its tech rules in an attempt to reach a trade deal with Donald Trump, the bloc's most senior official on digital policy has said. Henna Virkkunen, the European Commission vice-president responsible for tech sovereignty, indicated the EU was not going to compromise on its digital rulebook to reach an agreement on trade with the US - a key demand of Trump administration officials. - Guardian
Prada has agreed to buy the Versace fashion brand for €1.25bn ($1.38bn) from the fashion conglomerate Capri Holdings. It comes after months of speculation about a potential deal to combine the two Italian fashion houses and, more recently, rumours that the acquisition was set to collapse after market upheaval in response to President Trump's tariff policies. - Guardian
WeightWatchers is preparing to file for bankruptcy amid a boom in blockbuster drugs targeted at dieters. The New York-headquartered company is preparing to begin Chapter 11 proceedings over the coming months as part of a plan to hand control to creditors, according to reports. It comes as weight loss drugs such as Wegovy have exploded in popularity on both sides of the Atlantic, sparking a collapse in demand for services such as WeightWatchers. - Telegraph
The Government is under fire for relinquishing swathes of Cambridge's green belt for a £400m sewage plant as big as Wembley Stadium. Steve Reed, the Environment Secretary, has approved controversial plans to relocate Anglian Water's sewage plant in Milton to Honey Hill, as part of a major development across Cambridge which will include 8,000 new homes. - Telegraph
Central banks are under pressure to tighten rules on the amount of leverage taken on by hedge funds in the wake of the alarming tremors in the US government bond market on Wednesday which were seen by some as forcing President Trump's tariffs U-turn. One former senior Bank of England policymaker told The Times that the high leverage - the use of borrowed funds - used by hedge funds to make bets on US bonds, known as treasuries, was one of the reasons for the unusual sharp fall in prices and spike in yields on Wednesday. - The Times
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN