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French luxury conglomerate Kering has reached a cash deal to purchase a 30% stake in Italian fashion house Valentino for 1.7 billion euros from a Qatari investment firm MILAN -- French luxury conglomerate Kering has reached a cash deal to purchase a 30% stake in Italian fashion house Valentino for 1.7 billion euros from a Qatari investment firm. With the purchase, Kering is seeking to shore up its revenue stream as it struggles to turn around former powerhouse Gucci. Kering on Thursday reported first-half revenues of 10.1 billion euros , up 2%, as Gucci sales stagnate. Under the deal announced Thursday, Kering has the option to buy 100% of Valentino no later than 2028. The partnership could lead to the Qatari investment firm, Mayhoola, becoming a shareholder in Kering, as well as other potential “joint opportunities,” the statement said. Kering Chairman and CEO Francois-Henri Pinault expressed admiration for “the evolution of Valentino under Mayhoola ownership,” which Kering said turn...

Technology services provider Accenture is the latest company to ramp up its artificial intelligence business, announcing Tuesday that it will invest $3 billion over the next three years and double its AI-related staff to accommodate scorching hot demand Technology services provider Accenture is the latest company to ramp up its artificial intelligence Business , announcing Tuesday that it will invest $3 billion over the next three years and double its AI-related staff to accommodate scorching hot demand . Dublin, Ireland-based Accenture said it aims to have 80,000 AI-related staff to help create "industry-specific solutions that will help our clients harness AI’s full potential to reshape their strategy, technology, and ways of working, driving innovation and value responsibly and faster than ever before.” Accenture joins a growing list of technology companies racing to take advantage of a broader interest from businesses looking for new AI tools that can analyze data, help make...