By Maragarita Snegireva. French retailer PPR announced a 15.1 percent rise in its gains in fourth quarter due to acquiring sportswear group Puma. It also reported putting its Surcouf electronics chain up for sale.
Its plan to exit Surcouf came a day after PPR announced its intention to sell its YSL Beaute cosmetics division to L'Oreal. Analysts had often questioned the future of both Surcouf and YSL Beaute in the group.
PPR is a French multinational holding company specializing in retail shops and luxury brands. The company was created by the billionaire businessman François Pinault and is now run by his son François-Henri Pinault. It is quoted on Euronext Paris and is a constituent of the CAC 40 index. It was originally called Pinault-Printemps-Redoute, but changed its name on 18 May 2005 to simply PPR. On June 20, 2006, PPR announced that it had entered into exclusive negotiations pertaining to the sale of France Printemps after receiving a joint offer from RREEF and Borletti Group for €1.075 billion. PPR's chief competitors in luxury goods conglomerates are LVMH and Richemont.
Putin's official spokesman Dmitry Peskov commented on remarks in the US media about failures in launching nuclear-capable missiles in Russia
The Buk system that shot down MH17 belonged to the 53rd SAM missile brigade of the Russian Ministry of Defense, investigators say after looking at a few pictures on the net
It has long been understood that the West has been trying to subject Russian borders to total control. We have not seen such activity even during the Cold War