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BUSINESS BRIEFING
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In July, Bill Gates stepped away from his daily duties at Microsoft to focus on the work of his $38 billion foundation.
MERGERS & ACQUISITIONS
LVMH to Buy Yacht Maker
LVMH Moet Hennessy Louis Vuitton, the largest luxury-goods maker, agreed to buy Royal van Lent, a 160-year-old maker of custom-designed yachts, from Dutch investment company Egeria.
Royal van Lent, based in the Netherlands, designs and builds to-order yachts that are more than 165 feet long, a market that has grown 20 percent a year since 2000, Paris-based LVMH said. The companies didn't disclose financial terms.
EARNINGS
Vivendi, the French media and telecommunications giant, said second-quarter results were little changed as higher earnings at its Canal+ pay-TV operations offset a decline in profitability at its SFR mobile telecommunications business. Adjusted net income in the three months through June rose to $1.11 billion from $1.10 billion a year earlier, Vivendi said. It did not provide a value for net profit, preferring to use a measure adjusted to exclude most nonrecurring and nonoperating items.
Compiled from reports by Washington Post staff writers, the Associated Press and Bloomberg News.
