Global Glance: Macron election gives EU a breath of fresh air; Coach bags Kate Spade with $2.4 billion takeover bid

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Here are today’s top business headlines from across the nation and world:

Macron election gives gasping EU a breath of fresh air

BRUSSELS (AP) — Tuesday is Europe Day, and this year European Union leaders got to unwrap their present a bit early. French voters elected as president Emmanuel Macron, whose platform espouses a stronger EU and a tough line in negotiations on Britain’s exit from the bloc. Perhaps just as important, they rejected far-right contender Marine Le Pen, whose EU bashing knows few bounds. But if champagne corks are popping in Brussels, beware of the hangover: Brexit negotiations could go horribly wrong. Italian elections could see an anti-euro movement become the biggest party. Greek finances could wreck the value of the shared European currency. Read more

Coach bags Kate Spade with $2.4 billion takeover bid

NEW YORK (AP) — Coach will spend $2.4 billion for Kate Spade, tying together two premier brands in the luxury goods sector that have fought to snare younger shoppers. Noting that crucial demographic, Coach Inc. CEO Victor Luis said in a company release Monday that Kate Spade has a “strong awareness among consumers, especially millennials.” Coach will pay $18.50 per share of Kate Spade & Company. That’s a 9 percent premium to its Friday closing price of $16.97. Read more

Comcast, Charter Communications step into wireless together

NEW YORK (AP) — Comcast and Charter Communications will work together, forming something of a truce, as they advance into the wireless arena. Under the agreement announced Monday, neither company will enter agreements with others as they attempt to create “common operating platforms.” The companies have agreed to cooperate on technical standards development and harmonization; device forward and reverse logistics and emerging wireless technology platforms. Read more

Sinclair close to buying rival TV operator Tribune

Telecommunications company Sinclair Broadcast Group is close to an agreement to buy rival TV station operator Tribune Media. The New York Times reports talks were continuing Sunday and a deal may be announced Monday. The newspaper is citing unnamed officials who they say were briefed on the matter. The newspaper reported that Sinclair beat out competitors with a $44-per-share bid, valuing Chicago-based Tribune at about $3.8 billion. Read more

Connecticut feels effect of drop in super-rich tax payments

HARTFORD, Conn. (AP) — Connecticut’s coffers are feeling the pinch of the state’s super-rich no longer paying what they used to in personal income taxes. New figures released last week show tax revenue from the state’s top 100 highest-paying taxpayers declined 45 percent from 2015 to 2016. The drop adds up to a $200 million revenue loss for the state. Read more

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