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La Niña exits: The weather-roiling La Niña weather pattern has ended, returning equatorial Pacific temperatures to a neutral state that could portend an active Atlantic hurricane season. A neutral state can be a signal that the Atlantic hurricane season will be busy. Read more from Bloomberg. A subscription may be needed.
Ripple effects: President Trump’s auto tariffs are expected to make simply owning a car more expensive, experts warn. Tariffs on cars and auto parts in particular will in turn push up the cost of insurance and repairs, analysts say. The costs of car repairs and insurance have already soared 27% and 53%, respectively, during the past three years, according to Labor Department data. Read more from The Wall Street Journal.
Luxury acquisition: The Prada Group announced a deal Thursday to buy Italy’s Versace from the U.S. luxury group Capri Holdings under terms that value the fashion house at $1.4 billion. Prada says Versace “constitutes a strongly complementary addition” to its portfolio, which includes the Prada and Miu Miu fashion brands. Read more from Fast Company.
