US court blocks Coach owner's 8.5 billion dollar buyout of Versace parent

A US judge on Thursday blocked fashion group Tapestry's 8.5 billion dollar deal to buy Capri, which owns luxury brands including Michael Kors and Versace, citing a potential loss of competition. The deal, seen as an attempt to create a new global fashion giant to compete with European powerhouses, was halted by a federal court in New York after the US Federal Trade Commission (FTC) sued to prevent it earlier this year.