Business

Fashion house Versace did not receive any offers from Italian investors before selling to Michael Kors but the deal with the U.S. fashion group will create jobs in Italy, creative director Donatella Versace told newspapers on Wednesday.

JPMorgan Chase & Co is in talks about leading Lyft Inc's upcoming initial public offering as an underwriter, after rivals Goldman Sachs Group Inc and Morgan Stanley decided not to pursue such a role out of loyalty to another IPO hopeful, Lyft's larger competitor Uber Technologies Inc, according to people familiar with the matter.

Deutsche Bank has dismissed speculation that it might seek a merger as "fictions", after media reports suggested Germany's biggest lender might seek tie ups with Switzerland's UBS or German peer Commerzbank.

Merck & Co Inc's Kenneth Frazier will stay on as chief executive beyond 2019, the drugmaker said on Wednesday, after it scrapped a policy requiring its CEO to retire at the age of 65.

Foreign airlines that fly on 20 popular long-haul routes to China will face fresh competitive pressure as Beijing begins to ease decade-old restrictions on Oct. 1, allowing more Chinese carriers to offer service.

A Chinese equity bounce set a modestly positive tone for world stocks on Wednesday as bets that Beijing would expand stimulus to support its economy helped offset some of the worries about global trade tensions and $80-a-barrel oil.